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2024-08-31-accounts

Christ Church Hemel

Report of the Trustees and

Financial Statements for the year ended 31 August 2024

Christ Church Hemel is a Charitable Incorporated Organisation. Registered Charity Number 1178976

Christ Church Hemel

Contents of the Report of the Trustees and Financial Statements for the year ended 31 August 2024


Report of the Trustees


Independent Examiner’s Report


Statement of Financial Activity

Balance Sheet


Cash Flow Statement


Notes to the Financial Statements
 Page
1 to 4
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CHRIST CHURCH HEMEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

The trustees present their report together with the financial statements of the charity for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and 10 of the attached financial statements and comply with the charity's constitution, applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) laws and 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 United Kingdom and Republic of Ireland (FRS 102).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1178976

Principal address

21 Ridge Lea Hemel Hempstead HP1 2AY

Trustees

S. Buckley R. Matheson D. Couch J. Petitt

Independent Examiner

John Caladine FCCA CTA FCIE Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Treasurer

R. Matheson

Bankers

Lloyds Bank plc 120 Lewisham High Street Lewisham SE13 6JG

Hanley Economic Building Society Granville House Forge Lane Festival Park Stoke-on-Trent Staffordshire ST1 5TB

Page 1

CHRIST CHURCH HEMEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The church is a Charitable Incorporated Organisation and its governing document is a written Constitution approved and adopted at a church members' meeting held on 28[th] March 2018. The church was registered with the Charity Commission on 28th June 2018, with registered charity number 1178976.

The church began operating as an independent charity on 1[st] September 2018, having started meeting as a congregation of Spicer Street Church (registered charity number 1173938) in 2014.

Recruitment and appointment of new trustees

Recommendations to appoint new Elders (who are also the Trustees) are brought to the church members' meeting by the existing Eldership. They are appointed at a church members’ meeting via a resolution that must be passed by a 75% majority of the quorum present at the meeting.

Induction and training of new trustees

New Elders are briefed as necessary on their obligations under charity law, the Constitution and the decisionmaking processes of the church.

Organisational structure

The Elders regularly review and discuss the affairs of the church. At church members' meetings, held regularly throughout the year, members review and make decisions concerning the affairs of the church in response to the leadership and work of the Elders and Treasurer.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The trustees are aware of the Charity Commission's guidance on public benefit and consider that the ministries and activities of the church in support of its objectives are consistent with that guidance.

The primary objective of the church is the advancement of the Christian faith primarily but not exclusively in Hemel Hempstead and the surrounding area, by teaching the Bible and promoting prayer and fellowship among believers. It also seeks to support other activities that put the Christian faith into practice, including the advancement for public benefit of religious education and the care of those who are aged, poor, sick or disabled.

The church's ministries

During the year, the church had a pastor, Sam Buckley, and an assistant pastor, Dave Couch, who were primarily responsible for maintaining a regular ministry and pastoral care for the congregation. Many church members also volunteer their time to support the activities of the church.

The church seeks to provide:

  1. A programme of meetings and events which seeks to deepen the spiritual lives of the individual members and provide opportunities for non-members to hear the Christian gospel, including:

  2. Sunday morning and evening meetings;

  3. Sunday school;

  4. Youth groups for secondary school age children;

  5. A mid-week programme, including bible study, prayer and teaching, which normally meet in members' homes.

  6. Various other teaching and outreach ministries in and around the local area, including Christianity Explored courses for those interested in the Christian faith.

  7. Encouragement to its members to pray for the wider church and the needs of the world.

  8. Regular support for a missionary family working in Zambia, a translation consultant with Wycliffe Bible Translators, and the local Christian debt centre.

Page 2

CHRIST CHURCH HEMEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

  1. Support for a number of other organisations working in gospel ministry and care for the underprivileged in the UK and around the world.

Grantmaking

The church supports a number of individuals and organisations. Those who receive grants are regularly reminded that their support is regularly reviewed and may change according to circumstances and the availability of funds.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year ended 31 August 2024, the church has continued to focus on teaching the Bible and promoting prayer and fellowship, including through the teaching and outreach ministries outlined above. The Sunday morning meetings have continued to be streamed live for those who were unable to meet in person. Other groups continued to meet, including children’s and youth groups and regular midweek meetings.

FINANCIAL REVIEW

Reserves policy

The trustees have a reserves policy (updated in January 2024) to maintain a minimum level of reserves that is equivalent to 3-4 months’ general expenditure, which is sufficient to allow the church to operate without being affected by the uneven nature of the cash flow through the year. At the year-end, the church had unrestricted general reserves of £59,824, including cash reserves of £56,033, which is equivalent to approximately 5 months’ general expenditure.

Principal funding sources

Regular funding of the ongoing ministry of the church is dependent on donations made by the church members and other donors, which for the year ended 31 August 2024 totalled £132,795. During the year, the church also received funding of £10,000 from another church towards the support of the church’s assistant pastor, as well as restricted gifts from members and others amounting to £10,576.

Housing

On 26 September 2023, the church completed the purchase of 21 Ridge Lea as a manse to house the pastor and his family. The church ended the tenancy on the previous rented property on 31 October 2023.

Page 3

CHRIST CHURCH HEMEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

TRUSTEES’ RESPONSIBILITIES

Charity law requires Trustees to prepare accounts which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for the financial year. In doing so, the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011. 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. The Trustees are also required to be aware of the Charity Commission’s guidance on public benefit and to take it into account in their decision-making on behalf of the church.

Approved by the trustees of Christ Church Hemel on 18 February 2025 and signed on its behalf by:

R Matheson - Trustee

S Buckley - Trustee

Page 4

CHRIST CHURCH HEMEL

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

I report to the trustees on my examination of the financial statements of Christ Church Hemel (the Church) for the year ended 31 August 2024.

Responsibilities and basis of report

As the trustees of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) 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 now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:

  1. accounting records were not kept in respect of the Church as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements to be reached.

A

John Caladine FCCA CTA FCIE

Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: 27/02/2025

Page 5

CHRIST CHURCH HEMEL FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 August 2024 STATEMENT OF FINANCIAL ACTIVITY Unrestricted General Fund Designated Restricted Total 2022-23 Total INCOME Notes General Giving Other Income and Grants Income Totsl 132.795 19.028 I51￿13 10.576 10.000 20.576 143,371 29,028 171,399 134,840 24,000 158,840 EXPENDITURE Staff Costs Ministry Housing Expendlture Totsl 58.691 51.863 24.033 134,587 14.225 6.351 72,916 58.571 29,287 160,774 64,639 48,413 29,568 142,620 357 5.254 5ffi11 20.576 Net IncomellExpendlturel 17236 15.6111 11.625 16,220 Transfers Between funds Net movement In funds 143.7901 126.5541 50.790 45.179 17,(K)01 17,1X)01 10.11.12 11,625 16,220 Rèconciliation of funds Total funds brought forward Totsl fund5 carrled forward 16 86.378 59J24 11,979 57.158 105,357 116,982 89,137 105,357 Pa8e 6

CHAisfcHUROI HEMEL AN￿SNE￿A$A1 31&W 2024 202>24 2022.23 Property & Equ1Wr￿t 14 679,674 1,310 8ank 8al•rKe5 &Cash 90.164 Accrued IrKome Prepayrnents 11,054 1351 11.220 4,936 12,405 16,156 1&5.320 LLLL Cred￿(￿5.. Amounts lallin8duewhhln IJ 18364 18364 2273 2,273 50,074 104M47 TrtalasMlsl•s5 vxrqnt Credttors.. Amtyjnts faI￿ngdUeafter l ye¥ 729.748 105,357 1612.7661 NET ASSETS 10$357 Total General ReseThes Total OE4nated ReseTr io li 59A24 S7.158 116,982 86,378 11,979 98.357 Reslrlrted fiesep•YS IW98Z 105JS7 Apprts￿d bythetrusteesofchrist Churth Hemd on 18 F¢￿u¥V 2025 a￿￿￿11*d on its i￿hav ty.. IL Matheson.Trustee S 8￿.TruSte￿

CHRIST CHURCH HEMEL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 Auzust 1024 2023-24 2022-23 Cash flows from operating activities Net Incorne for the financial year Depreciation charge5 Ilncreasel/decrease in debtors Increase/ldecreasel in creditors Bank interest received 11.625 728 3,751 628.857 11,6311 16.220 810 12,4531 13411 12,5091 Cash from operations 643.330 11,727 Cash Ilow from InvÈstln$ a(tlvltlès Bank interest received Purchase of capital eouipment 1,631 1679,0921 2,509 11,2371 Net cash flow from In¥e5tSn8 artlvitles 1677.4611 1,272 Net Increaselldecreasel In c35h znd cash equovalents 34.131 12,999 Cash and cash equivalents at the beginning of the reporting period 90,164 77,165 Cash and cash equlvalents atthe end of the reportlnB perlod 56.033 9),164 Page 8

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTs l A￿o￿nting Policies 8asis of preparation The financial Statements have been prepared under the historical cost convention with item5 recogni5ed at Cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements. The financial stètements have been prepared 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 IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as It applies from l January 2015. The financial statements have been prepared io give a 'true and fair, view and have departed from the Charities (Account5 and Reports) Regulation5 2(X)8 only to the extent required to provide a'true and fair view. This departure has involved followin8 Accountin8 and Reportin8 by Charities preparing their account5 in accordance with the Financial Rewjrting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Ac(ountin8 and Reportin8 by Charifies.. Statement ol Recommended Practice effective from l April 2(MIS which has since been withdrawn. The Charity constitute5 a public benefit entity a5 deflned by FRS 102. Incomlng resources All incoming resources are included on the Staiement of Financial Activitie5 when the charity is legally entitled to the income and the amount can be quantified with reasonable accuiacy. Income is accounted lor when received. with the exception of income tax recoverable on gift aid donation5, and interest arising on deposits which are accounted lor on an accruals basis. For legacies. entitlement is the earlier ol the charity bein8 notified of an impending distribution or the legacy being received. Resources expended Expenditure is accounted lor on an accrua15 basi5 and has been classified under headings that aggregate all cost related to the care80ry. Where cosrs cannor be directly attributed to particular headin8S they have been allocated to activities on a basis ttsnsistent with the use ol resources. Grants offered subject to conditions which havè not bèèn met at the year end date are noreé as a commitment but noi accrued as expenditure. Grants are reco8nised as a liability when the church is under an obligation to makè a payment or thÈ8rant 15 paid over. Tan8lble fixed assets Depreciation is provided at the followin8 annval rates in order io write off each asset over its estimated useful life. ITIAV equipment 331%% on cost Dorne5tic appli£3nce5- 25% on c05t No depreciation 15 provided on freehold building5. The charity adopts a policy of rnaintaining propertie5 to a high standard. which prolongs their useful lives and enhances their residual value (based on prices prevailing at the time of acquisition or subseouent vèluètionl and èccordingly the trustees consider depreciation arising to be immaterial. Page 9

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) l A￿o￿nting Policies Icontinuedl Debtors Debtors are recogn￿Se￿ at their settlement amount. less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. Cash at bank and in hand Cash at bank ènd in hand represents such accounts and instrurnent5 that are available on demand tsr have a maturity of less than three months from the date of acquisitbon. Deposits for more than three months but less than one year hawe been disclosed as short term deposits. Credltors Credittsrs and provisions arè recognised when thwe is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer ol economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions arè fetognised at the amount the charity anticipates it will pay to settle the debt. Taxatlon The charity is exempt from tax on its charitable activities. Fund a¢¢ountln8 Unrestri£ted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Funds designated for a particular purpose by the church are also unre5trirted. Restricted funds can only be used for particular restrirted purkh)se5 Wlthin the objerts ol the charity. Restriction5 arise when specified by the donor or when funds are raised for particular resiritted purposes. Further explanatlon of the nature and purpose of e￿h lund Is Included in the nores to the flnanclal statements. The accounts include all transactions, assets and liabilities forwhich the chvrch is ￿sponsible in law. They do not include the accounts of church 8rtsup5 that owe their main zffiliation to another body nor those that are informal gatherin8s of church members. Penslgn co5t5 and other post-retlrement beneffts The charity operate5 a defined Contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relare. The assets of the scheme are held in 3 separately adrninistered fund. Unrestricted Re5trirttd T¢)tal 2022-Z3 Total 2 General Glvln8 Donations Gift Aid GASDS 108.405 24.246 144 132,795 8.762 1.787 27 10.576 117.167 26.033 171 143371 110,800 23,434 606 134,840 Page 10

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) Unrestricted Restricted Totsl 2022-23 Total 3 Other Income Grants/Donations Interest Church Weekend Away Other income 10.000 iO.OLV) 1.631 13.137 4.260 I9￿28 io,wo 2,509 8,936 2,555 24,LYIO 1.631 13.137 4.260 I9￿28 iojhx) Unrestricltd Re5trirttd Total 2022-Z3 Totsl 4 Staff Costs Stipends Employers Nat.Insurance Pension 49.386 1.034 8.271 58,691 14.225 63.611 1.034 8,271 72,916 56,984 206 7,449 64,639 14225 No employee receiveil employee benelits lex(ludin8 employer pension tostsl of more than £60.000 12022-23.. nill. Unrestrlct*d General Fund Designated 022-2 Totsl 5 Mlnlstry Travel Preacher Fees Evangelism Reference Material Trainin8lConlerences Mission Support Equipment & Repairs Church Catering Church Sundry Church Weekend Away Church Ofliie Church Rent Membership donations Fellowship fund- gifts Depreciation 1.040 1,040 300 1,230 1,357 200 977 980 1,129 12,790 707 824 2,697 11,589 2,973 8,820 2,100 460 810 48,413 1.230 2.147 9.200 460 1.269 2,710 14,646 4.151 10.445 2.691 2,147 15.551 460 1,269 2,710 14,646 4,151 10.445 2.691 357 728 58,571 6.351 3S7 728 SI￿63 357 6.351 6 Houslnz Manse-Rent Man5e-Loan Interest Man5e-Council Taxlwater Manse-maintenance Housing fund- purchase costs 3.890 16.422 3.721 3.890 16.422 3.721 336 4,918 29,287 23,190 3,419 336 4,918 5254 2,959 29,568 241133 Page 11

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) 7 Trustees, remuneration and benefits 2023-24 Stipend 2022-23 Stipend Pension Pension S Buckley D Couch 33.001 30,610 4.727 3,544 30,980 26,LK)4 4,437 3,011 The church's constitution authorise5 the payment of remuneration to Trustees. S. 8uckley and D. Couch were the only Trustee5 to re(eive remuneration. S. Buckley a150 received the benefit of housing provided by the church. the c05t5 of which are detailed in note 6 IHousin81 above. Trustee's expenses (included in note 5 abovel 5 Buckley D Couch 2023-24 1.466 1.413 2022-23 1,555 1,391 The averagè monthly nUrn￿r ol èmploytts and remunerated offitè holders lintluding Trustèes) during the year was as follows: 2023-24 Pastoral Team 2022-23 8 Debtors: amounts talllng due wlthln one year Accrued Income Gift Aid/GASDS Interest 2023-24 9.746 1,308 11.054 2022-23 8,762 2,458 11.220 9 Credltors Amounts falllng due wfthln one year Accruals Loans b¢£oming due within I year 2023-24 7.247 11,117 18,364 2022-23 2,273 2.273 Amounts fallln8 due after one ￿ar Loans becomin8 due after l year 612,766 10 ijnrestrlctsd Reserves General Reserve5 Designated Rese￿e$ Total Opening balance Incomin8 resources Ourgoing resources Transfers 86.378 151.823 1134,5871 143,7901 S9￿24 11.979 98,357 151,823 1140,1981 7,000 116.982 15,6111 50,790 S7.IS8 Page 12

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) 11 Designated Reserves Brought forward Transfers Outgoing Resources Total Housin8 Fund Fellowship Fund Ridge Lea Property Reserve Ridge Lea Maintenance Fund 8.727 3.252 13,8091 550 51.159 2.890 50.790 14,9181 13571 3,445 51,159 2.554 57.158 13361 5.611 11.979 The Housin8 Fund was set aside to purchase a property to use as a Manse, which has now been completed. The Fellowship Fund is used to express love and Co￿eM for one another and those with whom the church is in touch. The Ridge Lea Property Reserve represents the equity owned by the church in 21 Ridge Lea. The Ridge Lea Maintenance Fynd is money set aside lor maintenance of 21 Ridge Lea. 12 Restrlcted Rèserves 8rou8ht Forward 0110912023 Incomln8 Resources Out8olng Transfers Resources Closin8 3110812024 a A551Stant Pastor b HousinBl8uildin8 Fund t Open Doors d Bibles lor Children 14.225 114.2251 17,OtY)I 4.339 2,012 20.576 14,3391 12,0121 20,576 a Money received to support the assistant pastor. b Money received towards either purchase of a manse or a church building. Used lor purchase of 21 Ridge Lea. ¢ Money received to help persecuted Christians. d Money received towards the purchase ol bibles foi presentation to the pupils of Hemèl Hempstead schools. 13 Analysls ol net assets between fund5 General Funds Designated Funds Restricted Funds Total Funds 3110812024 Cash at bank and in hand Other net assets/liabilities 50,034 9.790 S9￿24 5.999 51,159 57.158 56,033 60,949 116,982 Page 13

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) 14 Tangible Fixed Assets Freehold Property Equipment Total Cost at 0110912023 Additions Disposals Cost at 3110812024 3,667 1,092 3,667 679,092 678.(MX) 678.CMKJ 4.759 682,759 Depreciation at 0110912023 Depreciation lor year Depreciation at 3110812024 2.357 728 3,085 2,357 728 3,085 Net book value at 01109n023 1.310 1,310 Net book value at 31108n024 678.(￿] 1.674 679,674 15 opera￿￿$ Leases At the start of the year, the church was renting a property as a manse to house the pastor IS. Buckley) and his family. The church terminated the tenancy ai the end of October 2023, followin8 completion of the purchase of 21 Rld8e Lea to Serve as a rnanse. Rental payments lor September/October 2023 are 5htswn in note 6 alx)ve as Man5e-Rent. 16 Statement ol Flnznclal Actlvlty- Comparathe figures for 2022-23 Unrestriued General Fund Desi8nated trict INCOME General Giving Other Income and Grants Intomt Total 125.181 14,000 139.181 9.659 10,000 19.659 134.840 24,000 I￿,840 EXPENDITURE Staff Costs Ministry Housing Exptnditurt Total 48.439 41.363 26.609 116AII 16.200 6.590 64,639 48.413 29,568 142.620 460 2.959 3A19 22.790 Net In¢omellExpendlturel 22.770 130191 13,1311 16,220 Tran5fer5 Between funds Net movement in funds 11.2521 21.518 1.252 12.1671 13.1311 16.220 Recon£iliation of funds Total funds brought forward Total funds carrled forward 64.860 86378 14.146 11.979 10.131 89,137 IOS.357 Page 14

CHRIST CHURCH HEMEL NOTESTO THE FINANCIAL ￿ATEmENTS (con￿￿￿ed) 17 Independent Examination The figure for accruals includes an amount of £1320 forthe independent examination fee12022-23.. £12601. 18 Concesslonary Loans As pan of the fundinB for the purchase of 21 RidRe Lea. the church has received rwo inrerest-free loans.. l. An unsecured loan, which 15 repayable in monthly instalments of £625 per month. 2. A secured loan, which is repayable on disposal of 21 Ridge Lea as 37.86% of the sale proceeds. The aBgre8ate balance outstanding at 3110812024 wès £399.816 13110812023.. Nill. 19 Rtlattd Party Tiansattlons As outlined in Note 7, two ol the trustees are also remunerated a5 office fv)Iders of the Church and the remuneration and expenses paid to them are ijisclosed in Note 7. Four trustees were reimbursed for general Church costs ol E13,46412022-23.. E8.8161 which includes the amounts declared as expenses in Noie 7. This includes costs associated with the purchase of 21 Ridge Lea. Donations from trustees and their related parties arN)unted to £26.799 durin8 the year12022-23'. £24.9001. Loan repayments to trusttts and their rÈlatÈd parties duri￿ the year amounted to £6,87512022-23.. Nil) leaving a balance outstandin8 of £399,816 at 311081202413110812023.. Nil). No interest was paid on these loans durin8 the year 12022-23.. Nill. Page IS