Charity registration number: 1182371
## Tooley's Boatyard Trust
Annual Report and Financial Statements
for the Year Ended 31 October 2024
## **Tooley's Boatyard Trust**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 19|
## **Tooley's Boatyard Trust**
## **Reference and Administrative Details**
**Trustees** Mr J R Madden Dr C Saffin Mr R D B Guard Mr J E Spratt Sir F J Davies CBE Dr C P F Okeke Ms A L Taylor Mr P Rodgers Ms V Smith Mr D H Clacher Mr J M Walton Mr A McHugh **Charity Registration Number** 1182371 **Principal Office** c/o Banbury Museum Heritage Centre Cafe Quay Spiceball Park Road Banbury Oxfordshire OX16 2PQ **Independent Examiner** Buzzard's Accountancy Limited 95 Sinclair Avenue Banbury Oxfordshire OX16 1BQ **Bankers** NatWest 1 Town Hall Buildings Bridge Street Banbury Oxfordshire OX16 5JS
Page 1
## **Tooley's Boatyard Trust**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 October 2024.
## **Objectives and activities**
## _**Objects and aims**_
The Trust's objectives are
1) To advance the education of the public by establishing Tooley's Boatyard as a working heritage centre of narrowboat maintenance and construction designed to enhance public understanding of narrowboats and canal life and the key role played by Banbury, and Tooley's Boatyard in particular, in the history of canals.
2) To preserve for the public benefit Tooley's Boatyard as a building of historic interest.
The Trust was formed in 2019, and initially commissioned a Project Viability Report part-funded by the Architectural Heritage Fund. A further grant from the same Fund, under their Cultural Recovery Programme, was used in part for a Refresh of that Viability Report, presented to the Trustees in October 2022. The balance was applied, with their full agreement, to marketing activities and to initial work on our restoration project, narrowboat Hardy.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
As planned, the Trust acquired, on March 1st, the entire share capital of Tooley's Boatyard Ltd, thus enhancing its ability to achieve its Objectives.
The Museum room was completely revamped, with explanatory boards on the history of the Boatyard, the Oxford Canal, Tom Rolt, etc., and with displays of original tools.
Once again, the Trust ran its popular weekend boat trips throughout the season, with two boats deployed for the Banbury Canal Festival - now the biggest event in Banbury's calendar. In addition to the family-friendly weekend trips, school groups (and others) were also catered for.
Some work continued on our restoration project, Hardy, for which a major fundraising effort is planned in 2025.
Page 2
## **Tooley's Boatyard Trust**
## **Trustees' Report (continued)**
## **Financial review**
The total income for the year was £10,117 (2023: £9,393) and the total expenditure was £10,304 (2023: £23,287). The unrestricted fund had a net surplus of £201 (2023 - £2,610 net surplus), whilst the restricted fund had a net deficit of £388 (2023: £16,504 net deficit). This resulted in an unrestricted fund balance of £22,610 (2023: £22,409), being the reserves of the charity. The restricted fund balance was £1,225 at the year end (2023: £1,613).
## _**Policy on reserves**_
It is the policy of the Trust that unrestricted funds (excluding illiquid investments) which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mr J R Madden Dr C Saffin Mr R D B Guard (appointed 3 December 2024) Mr J E Spratt Sir F J Davies CBE Dr C P F Okeke (appointed 3 December 2024) Ms A L Taylor Mr P Rodgers (appointed 16 November 2023) Ms V Smith Mr D H Clacher Mr J M Walton (appointed 16 November 2023) Mr A McHugh
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is registered with the Charity Commissioners for England and Wales under number 1182371 as a Charitable Incorporated Organisation (CIO), and is constituted under a constitution dated 4 March 2019.
Page 3
## **Tooley's Boatyard Trust**
## **Trustees' Report (continued)**
## _**Recruitment and appointment of trustees**_
All appointments subsequent to 19 March 2019 were approved by the existing Trustees at the time.
None of the Trustees has any beneficial interest in the company. In the event of the CIO being wound up, the Trustees have no liability.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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 responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr J R Madden Trustee
Page 4
## **Tooley's Boatyard Trust**
## **Independent Examiner's Report to the trustees of Tooley's Boatyard Trust**
I report to the trustees on my examination of the accounts of Tooley's Boatyard Trust for the year ended 31 October 2024.
## **Responsibilities and basis of report**
As the charity trustees of Tooley's Boatyard Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Tooley's Boatyard Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Tooley's Boatyard Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... Valerie Buzzard, FCCA Buzzard's Accountancy Limited
95 Sinclair Avenue Banbury Oxfordshire OX16 1BQ
Date:.............................
Page 5
## **Tooley's Boatyard Trust**
## **Statement of Financial Activities for the Year Ended 31 October 2024**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14|**Unrestricted**
**funds**
**£**
1,679
5,924
424
8,027
(7,826)
(7,826)
201
201
22,409
22,610|**Restricted**
**funds**
**£**
2,090
-
-
2,090
(2,478)
(2,478)
(388)
(388)
1,613
1,225|**Total**
**2024**
**£**
3,769
5,924
424
10,117
(10,304)
(10,304)
(187)
(187)
24,022
23,835|**Unrestricted**
**funds**
**£**
456
7,755
882
9,093
(6,483)
(6,483)
2,610
2,610
19,799
22,409|**Restricted**
**funds**
**£**
300
-
-
300
(16,804)
(16,804)
(16,504)
(16,504)
18,117
1,613|**Total**
**2023**
**£**
756
7,755
882|
|---|---|---|---|---|---|---|
|||||||9,393|
|||||||(23,287)|
|||||||(23,287)|
|||||||(13,894)|
|||||||(13,894)
37,916|
|||||||24,022|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 19 form an integral part of these financial statements. Page 6
## **Tooley's Boatyard Trust**
## **(Registration number: 1182371) Balance Sheet as at 31 October 2024**
|**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
12
**Creditors: Amounts falling due within one year**
13
**Net current (liabilities)/assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
14
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2024**
**£**
28,000
-
3,274
3,274
(7,439)
(4,165)
23,835
1,225
22,610
23,835|**2023**
**£**
-
2,650
26,857|
|---|---|---|
|||29,507
(5,485)|
|||24,022|
|||24,022|
|||1,613
22,409|
|||24,022|
The financial statements on pages 6 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr J R Madden Trustee
The notes on pages 8 to 19 form an integral part of these financial statements. Page 7
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Basis of preparation**
Tooley's Boatyard Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have been prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **Group accounts not prepared**
The group qualifies as small and advantage has been taken of the exemption not to prepare group accounts.
## **Disclosure of long or short period**
These financial statements cover the 12 months from 1 November 2023 to 31 October 2024. The previous accounting period covered a period of 13 months as a result of a one-time extension to better align the charity's financial reporting with operational and strategic planning.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Page 8
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **Key sources of estimation uncertainty**
There were no key sources of estimation uncertainty made in the year.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## _**Investment income**_
Interest on funds held on deposit and dividends from investments are included when receivable and the amount can be measured reliably by the charity.
## _**Charitable activities**_
Income from charitable activities is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 9
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tooley's Boatyard Trust was not registered for Value Added Tax during the year. In these financial statements, where applicable, expenditure is shown inclusive of VAT.
## **Fixed asset investments**
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 10
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations and gifts
Donations and legacies;
Donations and gifts|**Unrestricted**
**funds**
**General**
**£**
1,679
1,679
**Unrestricted**
**funds**
**General**
**£**
456
456|**Restricted**
**funds**
**£**
2,090
2,090
**Restricted**
**funds**
**£**
300
300|**Total**
**2024**
**£**
3,769|
|---|---|---|---|
||||3,769|
||||**Total**
**2023**
**£**
756|
||||756|
Page 11
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **3 Income from charitable activities**
|Boat trips
Boat trips
**4 Income from other trading activities**
Sponsorships and social lotteries
Sponsorships and social lotteries|**Unrestricted**
**funds**
**General**
**£**
5,924
**Unrestricted**
**funds**
**General**
**£**
7,755
**Unrestricted**
**funds**
**General**
**£**
424
424
**Unrestricted**
**funds**
**General**
**£**
882
882|**Total**
**2024**
**£**
5,924|
|---|---|---|
|||**Total**
**2023**
**£**
7,755|
|||**Total**
**2024**
**£**
424|
|||424|
|||**Total**
**2023**
**£**
882|
|||882|
## **5 Expenditure on charitable activities**
|**Unrestricted**
**funds**
**Note**
**General**
**£**
Boat trips
2,116
NLHF grants
-
AHF grants
-
Governance costs
6
5,710
7,826
Page 12|**Restricted**
**funds**
**£**
-
1,840
638
-
2,478|**Total**
**2024**
**£**
2,116
1,840
638
5,710|
|---|---|---|
|||10,304|
||||
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
|**Note**
Boat trips
NLHF grants
AHF grants
Allocated support costs
6
Governance costs
6
Boat trips
NLHF grants
AHF grants
Boat trips
NLHF grants
AHF grants
**6 Analysis of governance and support costs**
Advertising|**Unrestricted**
**funds**
**General**
**£**
3,117
-
-
443
2,923
6,483|**Restricted**
**funds**
**£**
-
6,859
9,945
-
-
16,804
**Activity**
**undertaken**
**directly**
**£**
2,116
1,840
638
4,594
**Activity**
**undertaken**
**directly**
**£**
3,117
6,859
9,945
19,921
**Other**
**support**
**costs**
**£**
443|**Total**
**2023**
**£**
3,117
6,859
9,945
443
2,923|
|---|---|---|---|
||||23,287|
||||**2024**
**£**
2,116
1,840
638|
||||4,594|
||||**2023**
**£**
3,117
6,859
9,945|
||||19,921|
||||**Total**
**2023**
**£**
443|
Page 13
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **Governance costs**
|Independent examiner fees
Examination of the financial statements
Legal fees
Insurance
Subscriptions
Independent examiner fees
Examination of the financial statements
Legal fees
Insurance
Subscriptions|**Unrestricted**
**funds**
**General**
**£**
1,568
3,006
1,096
40
5,710
**Unrestricted**
**funds**
**General**
**£**
1,500
73
1,056
294
2,923|**Total**
**2024**
**£**
1,568
3,006
1,096
40|
|---|---|---|
|||5,710|
|||**Total**
**2023**
**£**
1,500
73
1,056
294|
|||2,923|
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **8 Staff costs**
There were no employees during the period or previous period.
No employee received emoluments of more than £60,000 during the year
Page 14
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **9 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **10 Fixed asset investments**
Shares in group undertakings and participating interests
**2024 £** 28,000
## **Shares in group undertakings and participating interests**
|**Cost**
Additions
At 31 October 2024
**Net book value**
At 31 October 2024|**Subsidiary**
**undertakings**
**£**
28,000
28,000
28,000|**Total**
**£**
28,000|
|---|---|---|
|||28,000|
|||28,000|
## **Details of undertakings**
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
||**Country of**||**Proportion of voting**|**Principal**|
|---|---|---|---|---|
|**Undertaking**|**incorporation**|**Holding**|**rights and shares held**|**activity**|
||||**2024**
**2023**||
|**Subsidiary undertakings**|||||
|Tooley's Boatyard
Limited|England and
Wales|Ordinary|100%
0%|Repair and
maintenance
of boats|
Page 15
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **Subsidiaries**
On 1 March 2024 the charity acquired 100% of the share capital of Tooley's Boatyard Limited for £59,148. During the year the Trust received dividends of £31,148 which in substance represented a return of their investment and as such have reduced the addition value shown in the above disclosure. The purchase price includes £5,000 of deferred consideration payable 12 months after completion which has been provided for as a creditor and included in the above additions figure. Subsequent to the year end the Trust received a return of this investment by way of a dividend of £5,000, which will be reflected in the next set of financial statements.
## **11 Debtors**
|**11 Debtors**|||
|---|---|---|
|Other debtors
**12 Cash and cash equivalents**
Cash at bank
**13 Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals|**2024**
**£**
-
**2024**
**£**
3,274
**2024**
**£**
600
5,000
1,839
7,439|**2023**
**£**
2,650|
|||**2023**
**£**
26,857|
|||**2023**
**£**
3,985
-
1,500|
|||5,485|
Page 16
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
|**14 Funds**
**Unrestricted funds**
**_General_**
General funds
**Restricted funds**
Architectural Heritage Fund (CRP)
Narrowboat Hardy Fund
**Total restricted funds**
**Total funds**|**Balance at 1**
**November**
**2023**
**£**
22,409
638
975
1,613
24,022|**Incoming**
**resources**
**£**
8,027
-
2,090
2,090
10,117|**Resources**
**expended**
**£**
(7,826)
(638)
(1,840)
(2,478)
(10,304)|**Balance at**
**31 October**
**2024**
**£**
22,610
-
1,225|
|---|---|---|---|---|
|||||1,225|
|||||23,835|
Page 17
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
|**Unrestricted funds**
**_General_**
General funds
**Restricted**
Architectural Heritage Fund (CRP)
Narrowboat Hardy Fund
**Total restricted funds**
**Total funds**|**Balance at 1**
**November**
**2022**
**£**
19,799
10,582
7,535
18,117
37,916|**Incoming**
**resources**
**£**
9,093
-
300
300
9,393|**Resources**
**expended**
**£**
(6,483)
(9,944)
(6,860)
(16,804)
(23,287)|**Balance at**
**31 October**
**2023**
**£**
22,409
638
975|
|---|---|---|---|---|
|||||1,613|
|||||24,022|
The specific purposes for which the funds are to be applied are as follows:
The Architectural Heritage Fund (AHF) CRP grant, awarded in December 2020, covered marketing, business planning and audience development. The fund was re-purposed in May 2022 as a refresh of the original Project Viability Grant.
The National Lottery Heritage Fund (NLHF) grant was awarded for work on The Future of Narrowboat Hardy.
Page 18
## **Tooley's Boatyard Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)**
## **15 Analysis of net assets between funds**
|Fixed asset investments
Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
28,000
-
911
2,363
(6,301)
(1,138)
22,610
1,225
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
27,849
1,658
(5,440)
(45)
22,409
1,613|**Total funds**
**at 31**
**October**
**2024**
**£**
28,000
3,274
(7,439)|
|---|---|---|
|||23,835|
|||**Total funds**
**at 31**
**October**
**2023**
**£**
29,507
(5,485)|
|||24,022|
## **16 Related party transactions**
There were no related party transactions in the year.
Page 19