CHARITY REGISTRATION NUMBER- 1176572 SURFERS NOT STREET CHILDREN UK CHARITABLE INCORPORATED ORGANISATION UNAUDITED FINANCIAL STATEMENTS 12 MONTH PERIOD ENDED 31ST MARCH 2022
SURFERS NOT STREET CHILDREN UK FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 CONTENT5 Pa TRUSTEES REPORT INDEPENOENT EXAMINER'S REPORT 12 MONTH PERIOD ENDED 31ST MARCH 2022 BALANCE SHEET NOTES TO THE ACCOUNTS 10-15
SURFERS NOT STREET CHILDREN UK REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity No.. 1176572 Reglstered Office: Hi115 Court Cottage North Down Road Braunton EX33 2EE Trustees: Andrew Brookes Ichairl Jeremy Radcliffe Joe Walker Joel Meadows Bankers.. CAF Bank Limited (Charitie5 Aid Foundation) 25 Kings Hill Avenue West Malling Kent ME19 4JQ Independent examiner- Andrew Cribb FCA Smith Craven Sidings House Sidings Court Doncaster South Yorkshire DN45NU
SURFERS NOT STREEf CHILDREN UK REPORT OF THE TRUSTEE5 FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 The Trustees present their annual report and financial staternent5 of the Charity for the year ended 31 March 2022 The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities.. St3tement 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 IFRS 1021 (effective I january 20191. Oblectives and Artivitie5 The Charity wa5 e5t3blished as a Charitable Incorporated Organisation on the 8 January 2018. The principle purposes of the Charity are as follows.. To change the way that society perceives and treats street children globa11y ladvocacvl. 2. To support our partners in identifying and ernpowering street children in South Africa and Mozambique, enabling them to leave stieet life and reintegrate back into society successfully. To work with our partners to ensure that the children and youth that they work with are developed in order to be independent and sustainable in their adult lives. 4. To support our partners in their idelltification ol children at risk of becoming street children or at risk of street- involvement and to divert them. offering them new hope. It achieves this by advocating from the UK on the global phenomena of street children, 5UPPOrting partner organisations in South Africa and Mozarnbique through fundraising and the provision of grants, and through capacity building and other infrastructural support to local partners. Public Benefit The trustees confirm that they have complied with the duty in the section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit. The purpose of the Charity is enshrined in it5 objects as outlined above. The trustees ensure that this 15 carried out for the public benefit Achievement5 and Performance Advocacy and Awareness Raisin8 In 2021 we organi5ed a visit to the UK by Mini Cho of our Mozambican grant partner Tofo Surf Club and South African Ambassador Sne Makhubu. The visit enabled awareness raising. advocacy and fundraising with UK communities. including a trip to Scotland. The vislt resulted in a new film to promote the charity and the issues of 5tTeet children. To support our work and to raise awareness of what we do, we launched a new range of branded clothing in 2021. This increases not only our 5U5tain3ble income to the programme5 we support but a150 makes more people aware of our work and the plight of street childrèn. To support our advocacy, we organised a major reception in London for more than 100 people where we shared an update on i55ue5 around street children. rhe reception gave an opportunity to share stories from our partners and help rerrind people of the 51tuation facing street children in southern Africa. In October we spoke on a panel at the Blue Earth Summit in the UK about street children'5 issues and raising awareness of the post-covid situation in 50Uthern Africa. This advocacy opportunity was in front of influential individuals and businesses in the UK. During the year our CEO undertook multiple awareness raising activities including interview5 on podcasts, interviews with media and appearances at events.
SURFERS NOT STREET CHILDREN UK REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 Advocacy and Awareness Rai5in8- continued In February the charity organised a high-profile awareness raising and sharing of best practice trip to South Africa wirh leading 5urfer5 from Hawaii who also run their own NGO programmes working with vulnerable children. The year ended with a major advocacy and awareness campaign in partnership with internationally recognised Surfing brand and long-terrn charity partner. O'Neill. O'Neill created a clothing range to support the charity and comrnitted to three years of funding as part of the project. The new partnership included new films and prornotional activitie5 across social media challnels, Including with our joint Ambassador, leading surfer Jordy Srnith. The clothin8 design w35 based on indigenous art which had already been painted on to our partner surf club doors in Durban by the young peopl@ in our project5. It 15 a recognigable design for us ènd we were excited to connect our art project with the brand partnership with O'Neill. The films and product has helped raise issues affecting street children with a whole new audience who are learning about our work. Partner Support Surfers Not street Children UK ha5 supported partner programme5 in South Africa and MozaEnbique this year to deliver programmes that fuse surfing, mentorship and care for children at risk of street life or the dangers of street connectedness. During the year SNSC UK re-evaluated all monitoring, learning and evaluation IMLEI in partner prograrnmès and supported the implementation of a new N¢.L,E programme. During the year we undertook a full review of one of our local partners in South Africa, focusing on prograrn quality and effectiveness. Surfers Not street Children UK published the full report in March 2022 and is using this inforrnation in it5 learning and advocacy ènd informing our work around the world. The evaluation included ill-depth di5CU5sicn5 Wlth the children and youth in the program along with parent5 and staff. For the Evaluation the Surfers Not Street Children programme staff invited 30 children- 17 boy5 and 13 gir1s- to take part in the regular surfing programmè activity in the week of January 20th 2022. The children come from a rnix of backgrounds, some living in dangerou% shelters. some in hostels. Some are with their immediate family and sorne live with other relatives. All the children come from the Point Area of Ourban. an area of extreme urban poverty, which 15 a particular hazardous area lor children to live a5 It Is rife with prostitution. gangs, drugs and violence. All children would be considered 'vulnerable' to the violence of poverty where they live. At the time ol the review the Durban area was emerging from major riots that decimated the city, as well a5 Covid restrictions that stopped most work and kept children out ol school. and a rapidly increasing cost of livin8 crisis, especially for food. The evaluation summary said that our grantee, Surfers Not Street Children South Africa is a well-tested rnodel of fusing of surfing, mentorship and care is provided every single day to the most vulnerable gir15 and boys in Durban. The model in Durban is a deep and personal daily interaction in the lives of hundreds of children. It enables a positive surfing lifestyle focused on nutrition. fitness, friendship. plèy, self-worth, identity, well-being and education, and thi5 IS provided to the children and youth often excluded from society and most vulnerable to abuse, violence and exploitation.
SiJRFERS NOT STREET CHIIDREN UK REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 Partner Support- continued Our support for Surfers Not Streer Children South Africa is transforrring live5'. It is hard to lully quantify the scale ol the positive benefit of the program, but from all the research and detailed discu55ion5 With parerits, professional staff and children, it can be said that our support is the difference between a life on the street5 Wlth drugs, gangs, violence and prostitutitrn and having a positive childhood where you feel safe and secure and thrive at school. The results of the children's sell-evaluation as well as the discussions Wlth parents and professional staff show that the grantee programme is having a positive impart on children's Mèntal Health. This is particularly reflected in the high score for the Mental Well-8eing Study. Key Activities At the beginning of the reporting year, we were delighted that all our main partner activities could start to work normally again post-covid this included surfin8, back to School, tomputer lab, yoga, dance, social worker meetings and street outreach. We also made an organisational decision to continue supporting the emergency nutrition programmes in both Mozarnbique and South Africa set up undèr covid. The eost-of-living crisis has meant thi5 is Still needed. To support this the organisation has undertaken several lundr315ing drives and new grant application processes resulting in new partnerships. Our support to grantees in South Africa and Mozambique this year has specifically enabled.. All of the children in the partner prograrns to receive a regular rneal each day form the nutrition program provided dailv. All children in the program to be in school a5 0 result of the 'Back to School, program which helps with the c05t of school uniforms and books as well as registration and papenNork 5UPPOrt. Street outreach programrnes to continue despite the impart of riots in the area. Surfing and mentorship pro8ramrne5 to run every day giving children activity away from the danger5 of street connectedness. The effective runnin8 of a computer lab to support learning and homework for children unable to acces5 computers and wifi at home. In july, Durban wa5 hit by violent riots due to the cost ol living after the pandemic. The epicentre of the riots was in our partners programrne area, and we quickly had to mobi1ise to support an emergency response programme where our local partner wa5 protecting every one c>f the children and young people and then we supported the flying in food as normal supermarkets and 5tore5 had been emptied. We thank many of our Supporters who rallied with personal donation5 and actions to ensure all children in our partners programmes and their larnilie5 were protected and fed during this dangerous time.
SURFERS NOT STREET CHILDREN UK REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 Kèy Activltles. contlnued During the year there were a number of opportunities lor us to support thÈ total teams to attend surfing events to raise awareness of our work and the issues of street life and street connectedness. This is importani for advocacy and awareness raising as it gives a public platform to our organisation and the young people we support. We supported a nurnber of surfers to take part in the SA junior Champs in JBay in October, and KZN champs in Decernber. We supported our Ambassador Sne Makhubu to attend the SA Champ5 in Ballito. We were pleased that our local grantee in South Africa took the team win at the KZN Development surfing event in December. We were also delighted to 51JPPOrt an all-girl team in the cornpetition for the first time and they came fourth. This is the firsi ever all -black female surf team to compete in surfing in the history of South Africa. Throughout the year we supported our programmes in South Africa and Mozambique undertook environmental projects to increasè their own awareness ol ocean protection issues. This year it included regular beach cleans with focus n tackling single use p135tic. In the period under review we received E205,485 in donations. This wa5 raised through a variety of means from building corporate partnerships (such as Dry Robe), canv355ing individua15 for donations. holding fundraising events, completing trust applications and carrying out online fund raising campaign5. We spent £198,566 in the year 1st April 2021 to 31st March 2022. This was divided into threè main areas. Direct, SNSC UK oper3ting expense5 and Indirect support costs of South Africa. This left U5 Wlth a surplus of £8.626 which remained in the UK. Throughout the year under report the organisation undertook direct 5UPPOrt znd capacity building ol local partner5. Such as develop impact assessments, monitoring and evaluation, Support with report writing and structure, dat collection and policy development). Reserve5 Policy The trustee5 have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise commiited. The Trustees consider that, given the nature of the work of the CIO. it 15 prudent to have 3 months running costs as the targeted amount of reserves which is £20.000. We ended the financial year with £33,330 free reserves. Rlsk Management The trustee5 are aware of the operational and business risks and have e5tabli5hed controls place to mitigate any Statement of Trustee Responsiblllties Charity law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity at the period end and of its incoming re50urce5 and resources expended during that period. Ill preparing those financial statements, the trustees are required to.. Select suitable accounting policies and then apply them con51Stently', Make judgements and estimates that are reasonable and prudent.,
SLIRFERS NOT STREET CHILDREN UK REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2022 Statement of Trustee Responsibilities- continued State whether applicable accounting standard5 and statements of recommended practice have been followed Prepare Ihe financial statements on the going contern basis unless it is inappropriate to presurne that the charity The trustees are responsible for keepin8 proper accounting record5 which disclose with reasonable accuracy at ènv time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for 53fe8uarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. The statement of financial activitie5 includes all gains and Ios5e5 recognised in rhe year. All incoming resources and resources expended derive from continuing activities. Signed on behalf of the Trustees'.- Jeremy Radcli e (Jan 3, 2023 12'.21 GMT) A 8rookes Date.. J Radcliffe Date..
SURFERS NOT STREET CHILDREN UK INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the trustees of Surfers Not Street Children UK on the accounts for the period ended 31st March 2022 set out on pages 8 to 15. Respertive responsibilities of trustees and examiner As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Charity's accounts carried out under 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under section 14515llbl 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.. 12 MONTH PERIOD ENDED 31ST MARCH 2022 l accounting records were not kept in respect of the Trust as required by section 130 of the Act.. or 2 the accounts do not accord with those record5'. 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 4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practise for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.1 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. Andrew Cribb FCA For and on behalf of Smith Craven Sidings House Sidings Court Doncaster South Yorkshire DN4 5NU Date..
SURFERS NOT STREET CHILDREN UK STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI 12 MONTH PERIOD ENDED 31ST MARCH 2022 2022 Restricted funds 2021 Unrestricted funds Total funds Total funds Note INCOME Donations and legacies Trading activities 196,030 1,707 9,455 205,485 1,707 159,688 Total 197,737 9,455 207,192 159,688 CHARITABLE EXPENDITURE 189,111 9,455 198,566 158,087 TOTAL EXPENDITURE 189,111 9,455 198.566 158,087 NET INCOMEIIEXPENDITUREI 8,626 8,626 1,601 RECONCILIATION OF FUNDS Funds brought forward io 25,353 25,353 23,752 Transfer of fund5 Fund5 carried forward io 33,979 33,979 25,353 All operations of the charity in the year are continuing. The charity has no recognised gains or1055es Other than the net incoming resources for the above financial period.
SURFERS NOT STREET CHILDREN UK BALANCE SHEET AT31ST MARCH 2022 Unrestricted funds Restricted funds Total thls perlod Total 2021 Note FIXED ASSETS Fixed Assets 649 649 649 649 974 974 CURRENT ASSETS Stocks 2,377 9,706 23,437 35,520 2,377 9,706 23,437 35,520 Debtors Cash at bank and in hand 2,895 28,493 31.388 CURRENT LIABILITIES Amounts falling due within one year 2,190 2,190 7.009 NET CURRENT ASSETS 33,330 33,330 24,379 NET ASSETS 33,979 33,979 25,353 FUNDS OF THE CHARITY Unrestricted fund Igeneral reserve) Restricted funds 33,979 33,979 25,353 TOTAL FUNDS io 33,979 33.979 25,353 Approved on.. A Brookes J Radtllffe On behalf of the Charity's Trustees
SURFERS NOT STREET CHILDREN iJK NOTES TO THE ACCOUNTS FOR THE 12 MONTH PERIOD ENDED 31ST MARCH 2022 ACCOUNTING POLICIES The principal accounting policie5 adopted in the preparation of the financial stètements are set out below and also have been consistently applied within the accounts. 1.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Accounting and Reporting bv Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in ccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 leffective I january 20191. 1.2 Going Concern The financial staternent5 have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months frorn authori5ing these financial statements. The budgeted income and expenditure 15 Sufficient with the level of reserves for the charity to be able to continue a5 a going concern. 1.3 Fund accountin8 Unrestricted funds are available of use at the discretion of the trustee5 in furtherance of the general objectives of the charitable company 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 which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. 1.4 Incoming Resources All incoming resources are included in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions have been met, the amount can be measured reliably and it is probèble thèt the intome will be received. Grants receivable. funding the general activities of the charity, are included in the period in which they are receivable. 1.5 Incomin8 re50urces with related expenditure Where incoming resources have related expenditure las with fundraising or contract incom&l the incoming resources and related expenditure are reported gr055 in the SOFA. Oonations are recognised when receivable. In accordance with the Charities SORP IFRS 1021, the general volunteer time is not recognised. refer to the trustees report for more information about their contribution. 1.6 Stocks Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price le55 Costs to complete and sell. Provision is made for slow moving, ob501ete or damaged stock where the net reali5able value is less than cost. 10
SURFERS NOT STREET CHILDREN UK NOTES TOTHE ACCOUNTS FOR THE 12 MONTH PERIOD ENDED 31ST MARCH 2022 ACCOUNTING POLICIES- CONTINUED Expendlture All expenditure 15 accounted For on an accruals basis and has been classif1ed under headings rhar aggregate 311 CQ5ts related to the category. Expenditure is recognised where there 15 legèl or constructive obligation to fflake paymenrs to rhird parties, it S probable that the 5ettlernent will be reouired and the amount ol the obligation can be measured reliably. Glfts In kind Gifts in kind are accounted for ar a reasonable estimate ol their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounrs as gifts only when 501d or distributed by the charity. Gift5 in kind for use by the charity are included in the SOFA a5 incoming resources when receivable. Donated services and facFlities These are only included in incorning resources (with an equivalent amount in resources expended) where the benefit to the charity 15 reasonably ouanrifiable, measurable 3nd mat&ri31. The value placed on rhese resources is the e5tirnated value to the charity of the service or facility received. 1.10 Investment income Investment income is recorded under rhe accruals rnethod. 1.11 Liability recognition Liabilities are recognised 3S soon as there is a legal or construttive obligation comrnittinB the charity to pay out resources. Irrecoverable VAT Is charsed to rhe SOFA as incurred. 1.12 Governance cost5 Include costs of the preparation arid exatnination ol statutory accounts, the costs of trustee meetings and the cost of any l&gal advice to trustees on governance or constitutional matters. 1,13 Debtors Trade and other debtors are recognised at the sertlement amount due after any tr£de discounr offered. Prepayments are valued at rhe amount prepaid net ol any tr3de discounts due. 1.14 Creditors Creditors and provisions are recognised where the charity ha5 a Present obligation resulting from a past evenr thar will probably result in the trzn5fer ol fund5 to a third party and the arnovnt due to settle the obligation c3n be me3sured or e5tirnated reliably. Creditors and provisions are norrnally recogni5ed at their settlement after allowing lor any trade discounts due. 1.15 Tangible fixed 355et and depreciation Tangible fixed asets are stated at COSt le55 depreciation. Depreciation is provided at r3te5 to write off the cost less any residual value ol each asset over it's expected useful life as follows.. - Computer equipment- 25% Straight Line
SURFERS NOT STREET CHILDREN UK NOTES TO THE ACCOUNTS FOR THE 12 MONTH PERIOD ENDED 31ST MARCH 2022 ANALY515 OF INCOME 2022 Restricted funds 2021 Total funds Uniestr'd lunds Total funds Donations and lègacies Donarions and gifts Gilt Aid Donated goods, facilities and services 188.120 7,710 200 9,455 197,575 7,710 200 205,485 157,195 1,995 498 196.030 9,455 Isg,688 Trading activities Sales of merchandise 1,707 1,707 1,707 L,707 ANALYSIS OF CHARITABLE RESOURCES EXPENDED 2022 Z021 Urtrestr'd funds Restrlcted fund5 Total lunds Total funds CHARITABLE EXPENDITURE Salary costs IT costs Rent & room hire Subscriptions Telephone. fax & internet Printin8, Stationery & postage Travel expenses Motor expen5e5 Grant to Mozambique Grant to South Afric3 Governance costs15ee note 41 Sundry expenses Depreciation Purchase ol merchandise Professional Total 60,871 1.080 4.142 536 60,871 1.080 4,142 536 1,667 40 59.690 260 454 1,667 40 1,264 93 6.823 371 9,455 16,278 371 19,340 77.705 2.275 928 2,310 19.340 77.705 2,275 928 14,215 75,450 3,301 725 325 623 325 623 325 12,385 189,111 12.385 198,566 9,455 158,087 ANALYSIS OF GOVERNANCE COSTS 2022 Restricted funds 2021 Total fvnds Unrestr'd funds Total funds Professional fees Bank Charges Toral 1,400 875 1.400 875 2,275 2.870 431 2,275 3,301 12
SURFERS NOT STREET CHIDLREN UK NOTESTOTHE ACCOUNTS FOR THE 12 MONTH PERIOD ENDED 31ST MARCH 2022 DETAILS OF CERTAIN ITEMS OF EXPENDITURE 5.1 Trustee expenses No expen5e5 were paid to trustees of the charity during the year. 5.2 Fees for examination or audit of the account5 2022 2021 Independent examiner's fees for reporting on the accounts 1,400 1,350 1,400 1,350 PAID EMPLOYEES 2022 2021 6.1 Staff costs Gross wages Employer's national insurance costs Pension costs 55.500 2,439 2,933 53,329 4,256 2,105 Total staff costs 60,872 59,690 No remuneration was paid to trustees of the charity during the year. No employee earned more than £60,000 in the period. 6.2 Average number of full-time equivalent employees in the year 2022 No. 2021 No. The part5 of the charity in which the employee5 work Charitable activities Total 6.3 Defined contribution pension scheme Details of the scheme The or8anisation operates a contributory group personal pension scheme. 2022 2021 The costs of the scheme to the charity for the year 2,933 2,105 The amount of any contributlons outstanding at the year end 2,177 The amount of any contributions prepaid at the year end 70 13
SURFERS NOT STREET CHIDLREN UK NOTES TO THE ACCOUNTS FOR THE 12 MONTH PERIOD ENDED 31ST MARCM 20II TANGIBLE FIXED ASSETS Computer Equiprnent Total Cost At l Aprll 2021 Addition5 1,299 1,299 At 31 March 2022 1,299 1.299 Depreciatson At L April 2021 Charge for year At 31 March 2022 325 325 325 650 325 Net &ook Value At 31 March 2022 649 974 At 31 March 2021 974 1.299 DEBTORS Analy515 of debtors Amounts recelvable within one year 2022 2021 Gift Aid 9,706 1,995 900 Trade Oebtor5 Other Debtors Total 9,706 2,895 CREDITORS Analysis of creditors Arnounts falllng due within one year 2022 2021 Trade credirors 132 1,870 5.109 30 Social security & other ta¥ Other Creditors 506 1,552 Total 2,190 7,009
SURFERS NOT STREET CHILDREN UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 io MOVEMENT IN FUNDS 10.1 Analysls of net assets by fund Unrestricted Restricted Funds Funds Total Unre5trirted fund5 33,979 33,979 Net assets at 31 March 2022 33,979 33,979 10.2 Movements in funds Opening Incoming IResources balance resources expended) Closlng Balance Transfer Unrestrirted funds General Fund 25,353 197,737 1189,1111 33,979 Restricted funds Core activitie5 9,455 19,4551 10.3 Comparatlve for movement in funds Opening Incoming IResource5 balance resources expended) Closing Balance Transfer Unrestricted funds General Fund 23,752 159,688 1158,0871 25,353 Restrlcted funds Core activities li TAXATION As a registered charity, the trust dtses not pay any income taxes on its charitable activities. 12 RELATED PARTY TRANSACTIONS No trustee or other person related to the charity had any personal interest in any contract or tr3nsattion entered into by the charity during the year.