Chaffty number: 1186279 KESGRAVE WAR MEMORIAL COMMUNITY CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE CONTENTS Pages Referen¢e and Admlnistfativ• Delails of the Chaiity, its Trustees and Advisers Trustees. Report Independent Auditofs Report on the Financial Slatemenls Ststement of Fin•ncial Activitiès 8-11 12 Balancè Sheet 13 Noles tts1 Financial Ststements 14-28
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARffY. ITS TRUSTEES AND ADNISERS FOR THE YEAR ENDED 310ECEMBER 2023 Trusl•es Mr R Baird. Chairman Mr J Pratt, Treasurer Mr G Lynch, Vice Chairman Dr P Athw811 Ms D Head Mr C Chittock MT R Gibson, Secretary Mr B Coup8 Charity registered number 1186279 Principal office Twelve Acre Approach KÈsgrav¢ Ipswich. Suflolk IPS 1JF Website .kwmcc.co.uk Ind•pénd•nl audltor Sumer Audll¢o LlmOt8d Statutory Audtto Fitzroy House Crown Str88t Ip5wMch Suffolk IP13LG Investrnent rnanagor Rathbone Inv8strnont MaNagem8nt Port of Liverpool Buibjing Pi6r Head Liverpool L31NW Flnancial advkor Compton ValY WeaRh Management Ltd Corrlpton Mill Compton Marhjon Paignton Devon Ta3 1TB Pag¢ 1
IGRAVE WAR MEMORIAL COMMUNITY CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Thg Trustees pr856nt thelr Annual Rèport togèthèr wlth thè audited financlal statements of the Kesgrave War Memorial Community C9ntre (th8 "Ch8ntyJ for the year ended 31 December 2023. The Trustegs confirm th8t the Annual Report and financlal ststement5 of the Charity Minply vAth the current ststutory requirements, the requirements of the Charity's gOverrng dooumenl 8nd th8 prowsions of the Statement of Recornmended Pra¢lice ISORP), applicable to charitie5 preparing their accounts in aOrdanCe with Financial ReportiThJ Standard 8pplicabl8 in the UK and Republic of Ireland FRS 1 D2). ObJe¢tlves aclivrtio$ . Poli¢les and obJo¢tlvos The objèclives of the Ch8rity sh811 be Ihe provision and maintenance of 8 cornmunity cenlre. r8cre8tion areas and 5FMJlts ground, for the ugo of tho inhalytsnts of the town of Kasgravo. wthout disl'nction of political, religious or other opinions. includiro u88 for meeting5. lectures 8nd cl855e5 and for other forms of reGreation ar 18isur8- lJme o¢cupation. with the ot4ect of improving the condrtions of Ife for the Said inhabitants. The folbmng strategic objectives have been set to undern the Charitys objectives. To achieve at least a break-even position month by Month between income and exteThJiture from the tradlng operations so that draw-dovms from the Investment portfolio are only needed to subsidize premis8S m8int8n8nc8. To make (( easy and èffident for rerS to deal wrth us anab11 tho Charlty to compete wfth the best venues in Suffolk and t recognis8d 8S th8 g10 pl8c8 in our area to host an event. To Oll5UFe th8t sufficient funds are available from lh8 inves18d portfolio to sustdn the upkeep of tho premises into the long term. In normal circumstsnces it is our aim not to 8low the level of investments to f81 LliA¥ £2,000,000. To operale the Char1ty In comFlIan ¥vlth a118pplicable law, regulations and best pra¢tSc8 guidanc8. Ak)ov8 dl. to provide 8 safe 8twironment for the activities we host. for those parDup8ting in, or who may b8 aftected ty, them, The Trust88s confirm that they have referrad to the guidance contained in the Charity Commission oeneral guidance on publlc benefit when revi¢wng the Charffy's aims and 0.eCtiveS and in planniro fulure aCtivites. Page 2
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 OECEMBER 2023 Obj•ctivas and acliviti•s lcontinupdl b. Legal status The inform8tiDn Dn p8ge 1 forms part of this reFort. The Trte98 $8t out page 1 have hekl office during the wtrLole y8ar and to th8 date ot Ihls report, unléss oth8rwEe stated. Kesgrave War M8moFial Community Centre 1$ a charitable inCorFy)r8 org8nis8tion {CIO) registsred with tho Charity CommiSsic in England and Wales under d)arlty number 1186279. It was registered on 11 November 2019 and was set up lo take fon¥8rd th8 8ctivits.es of Kesgrave War Memorial Comrnunty Centre. The a55ets and acUviti8s of Kesgrave Waf Memorial Comnwnity Centra (0304779) were tran51erred to the CIO on 1 April 2021.lts governing document is the wn5titution d8t8d 11 November 2019. The Charity is m8nag8d by a Board of up to 12 Trustees who may b& appointed at any time ty a majoriti of the Board. No Trustee received any remuner8tion from the Charity during etlher the cuirenl year or PFiof y88r. The Tru8t88s h8ve appointed a Financial Advisor. Compton V811ey W8&Mh M8nBgement Ltd. to review the Chariws investments and make re¢omm?nd8tions to rneel approved financial objectives. c. Main activities undertaken to further th• Charity'5 purposes for thg public bonafit The Charity continue¥ to provide high quality indoor and OLJtdoor fa(ilities for hire by Ioc81 clute and resid8n15 8t sutjsidised Cost. It part funds these subsfdies through otheT hirings to organisations and individuals at commer(x81 r8t8s. It 8ng8g85 Wlth local Government. the polce and local organisation5 to provide activities for all es in the Community. 11 continues to work 4Mth and has the 5UPPOrt of Sport, Amenities, Recreation in Kesgrave (SPARK) a local charity and Kesgi8ve Town Coundl and continuas to d8V8lop its conneclions with the District and County Councils and business organisations. Page 3
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achi•v•rn•nts p•rfomian¢È a. Rtvimv of adivilies and financial perforrnance Total In¢omè for tho ¥8ar ended 31 December 2023 aris1 from hlre of our indoor and outside facilities was £412.321 (2022- £338272). ExpeThJiture in the trading account ofthe Chanty was monltor6d cbsaly and was £687,463 {2022- £847.266). The investment portfolo as at 31 D8cember 2023 amounts to £2,055,463, having in(Ye8sed lry £87,528 from 1 January 2023. Kesgrave War Memori81 Communty Centre continues to provide high quslity indoot And outdoor facilittes foT hire local oluts, r85idonts and many other organisations. Wve see regular events. meetings, training. Weddi5, 8nd sport 8t our faakties. In 2023 KWMCC won the Community Bull¢Jlro Award in the Suffolk Communty Avrnrds Presentations. Thi5 awsrd recagnise5 the positive contribution made to the community by KWMCC though it& buildirvJs facilities. KWIACC continu85 to engage with Ic¢al governmgnt, th8 police. and local organlsatlons to provkxe activlties for all ages in the Community. In addition. rt corlinues lo work wtth SPARK. K8sgr8ve T(Iwn Couneil and with its onngclons wtth the tlistrict and County Council along wtth local buslness organisab'ons. 2023 has Ln a very positive year for KWMCC. The Marketing and Events team have Continued lo provide a host of events during th8 yefir which kn8ve catei8d for a wid¥ variety of our (x)mmuThty. Th6se events are always so well supported and hi5 has increased usage and the visitdlity of the centre. The monthly Chirnwag Gontinues lo be 8 great $u¢¢ess for the charity with numbers of 8tt8ndee8 regularty roa¢hlNJ 150+. Special attentlon Is currentty balng given to promob'ng the centre for weddings and a new wedding brochure has b88n cre8t8d. Slnce the app)intmonl of a new facilit16s manager In 2022 the charlty has continued to make significant improvements to its buildings by carrying out mosl of tho general m8inten8nce in house. Throughout 2023 upgrades end maintenance were carried out in all areas of our facilrties which has resulted in tho Charty rec&ving very positive fOlbCk from our users. 0r general wlicy docurnent5 arml IT 5y5tern8 conth'nuè to be revièwad. malntainéd, and upJraded where require(S. The ¢harrty'$ finencial 8dvisDT8 conlinue tD I'eview and monitor our inv&strn8nt portfolio and our investments fiLshl th8 year above the £2m mark after takings and drawng down cash injeclions wero required. In colUSiOn the board of Irustegs would like to r?cord our &ncere thanks to our manager, staff. ¢onsultsnt, advisor5. and grant prDvideis who have continuad to supwrt KWMCC durlng 2023 and aU¢wed It to achleve very positive and su¢cessful year. Page 4
IGRAVE WAR MEMORIAL COMMUNITY CENTRE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 AChvMeThts and rtOMn¢ (canlinu•d b. Investvnent policy and perfomian¢e The Charity'8 investrnents are m8n8g8d by RathbDne Investment Management. with Compton Valley W8ath Management Ltd acting as tts Financial Adviser, monilorino the performance of its investrnents. Bi-annual review tf*81ings ale held by both companias to r8Wrt on past performance and adyisè on futur8 trèNls and re¢ommendalion5 for inv851menl. ¢. Factors ra¥2 to achkva oblectives The Twstees are aware of the COmtIll0n. both wthin the kxal are8 and wider affiekl, for factlty hire and work hard lo ensu their offar 15 competitNe. AddMonal money has been spant this year on upgrading ilties and work will eontlnue in the effort to ersure th8 Charrty mget5 its hirers, eXPLIatiOnS. The Charity 1$ continuing to 8xpand tts ofler for swrts and heaRh tivIties. supported whbie p05siblè by extem81 funding iniiialty and the Al¥e Pdults are an excellent example of what can be achieved for a hard to reach group. Financial review a. Golng ctsncern After maknrwJ 8ppropriet8 8nqiiii85. the Trustee6 he a reasonable expoct8tion that th8 Charity has 8d8qU8te financial resources to conb.nue In operational exislence for the fore8ee8ble fulure, being a period for at least 12 mnth5 from tho date of approval of th8S8 finanixal Statements and meet its liabilities as they fall due. For reason they continue to 8dopl th8 going concem b88is in preparing the financial ststements. b. FlnanGial pollcy Eycess funds are held wthin an inve8tmenl porfoKo. The Charity monitors ils tradiro income and extonditure against budget and ¥A)en hfloW requroments dictate a lump sum B wthdrawn from the investm8nt Fortolio. . IAAterial inveslments policy Inv8slments held are managed by the Charitys Investment M8neger (a Dis¢relionary Fund Manager) in acccrdance bmth an agreed risk profile r8commended by and agreed wth th¢ Charity$ Financial Adviser. This Is reviewed at least annu81ty ty the Trustees. structiir•• gov•rnance and managemenl 4. M•thods of appointment or election of Trustees The management of th8 Charfty Is the responsikility of the Trustees, who ar8 8lected under the ter of the gc)v8ming (kicument. b. Poli¢lo$ adopted for the induction and training of Tru51ees The Chgritys SaGrelary is respon61ble for the induction of new Trust88s and rllak85 all inforwnation rgquired 8vai18ble, according to Charity Commission guidance. Page 5
I(ESGRAVE WAR MEMORIAL COMMUNrrY CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structur81 govemance and rnanagom•nl Icontinued) c. Pay pollcy tor staff Pay policy for all stsff is revi8w8d on an annu#l basis by the General Manager and 8PPtovod by Ihe Trustses. d. Govèrn•nc• and Inkmal controls M8nagement of the Charity is v8Sted in 8 808rd of Trustees which meets monthty. Th8 Boaid makes 811 the decislons about the Charity. A Governance and Development Group makes certain recommendalions on investments atKI other matter5 which aTe ralified by the Board of Trustees. Day to day operation is Tull by th8 General Manager who roports to the Board of Trustees. Risk and risk management The Charity has a set of Finan¢i81 Regulallons to contfol all aspects of financial planning including investments )licy. A comprehensive Risk Register 15 al80 eStab'Skned. Both documanls ale reviewed ty the Board on an annual basls. Statemornt of Trstee$. responsibilities Th8 Truste85 are responsible for preparing the Trustees, Report ané the financial slments in accon18nc8 Tmth 4)plicabl8 law a1 rogulalions. The appli¢able to charities in England & Wales requires the Trustees trj ProFr8 financial statements for each financi81 in ac{x)anCe wlth Vnlted Klngdom A¢¢ounllng Ganerally Accepted Accounting Practic8 Iunited lfjngdom Accounting Stsndards and 8pplic8ble l&w)- The trustees must not approve th8 fin8nLY81 statements unless they are $8tlsfied that they 've a true and fair view of th8 Stale of affairs Df the Charity and of the incoming re50urc85 and application of resouThs, including the Irm6 and expeniture of the Charity for that period. In prepariro these f nancial statements, the Trust805 8r8 required to.. select suitable CoUntIng policies and then 8pply thom consistenlly; observe the mgthods and principles of the Charities SORP., make judgrngnts and acGOUnting estimates that are reasonabla and prthJ8nt', stal8 whether applicable UK Accounting Standards have be9n followed. subjecl to any material detrJrtrE disclos1 and explained in the financ4al statemgnts,. 8nd pmpara the ffinancxal statements on the going Concern basL% unl6ss *18 Snappropriate to presurne that the Charity will ¢ontinue to operats. The Trustees are responsibl8 for keeping adequate accounting rerdS th91 disdos8 vAlh reasonable aGturaGy al any time the financial positj'on of the Charity and enable them lo 8nsure th8t the financi81 statements CoMY ith the Charitses Act 2011, the Charity IAccountS and Rerts> Regulats'ons 2008 and the provisions of the trust deed. They are also responsibl8 foi 88f8gu8nling the assets of the Chattty and h8nc8 ft)I taknng reasonat4e steps for the prav8nlon and detection of fraud and other irr8gularib'8S. Page 6
KESGRAVE WAR IqEMORIAL COMMUNITY CENTRE TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Auditor On the 28th March 2024 our 8110, SB Audit LLP. merged 8urner Auditco Lirnited. Accordingly SB Audt LLP f0m1al resrgned 88 th8 Ch8rilV8 auditor vAth the Trusle8s duly 8ppointing Sumer Audltco Llmited tts 1111 the vac8ncy 8rfSir. Approved by order ofth8 m8rnbets of the 8oard of Trust88s and &gned on their behalf Mr R Baird {Ch8ir of TtU5tees) Oate.. 21T¢ 7cw+ Pago 7
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE INDEPENDENT AUDITOR'S REPORTTO THE WFEMBERS OF KESGRAVE WAR MEMORIAL COMMUNITY CENTRE Opinion We have auditgd th& financlal statements of Kesgrnve War M6mortal Community Cenlre (the for the yegr ended 31 December 2023 which compris8 of the Statement of Financial Adivities. the 8818nce Sheet and the related notes, Sn¢ludlng a summary of significant a¢¢ounting polK¢es. The fin8ncial reporling framework that has been applied in th8ir preparation is applicable Faw and Untted Killgdom Accounlirvj Stand8rds. including Financia5 Reporkn"ng Standard 102 'Tho Finai)ciiil Reporting Slandard applcabl8 in the UK and Repu1¢ of Ireland. (United KinOrn Genei8lly Accetrted AGcountin9 Practic8). The finan8[ statements have been prepared in 8ccordance with A¢counts'no and Rewrting by Charities pr8p8ring their accounts in acGor(lanG8 Wth the Financial Reporting Stsndards aPIcable In th8 UK and Republc of Ireland (FRS 102) in pref8r8nce to the Accountitwj and Reporting by Charitie5.' Statement of Recoended Prac¢8 Issued on 1 Apftl 2005 whl¢h Is referred to in the extant regulatiorts but has been withdrawn. This has been done in order for the fin8nci8151atements to wovid8 8 tru8 and f8lr vlew in Sccothnce with the Generalty Accepted Accounting Practi¢e effeclive for r8porting periods beginning on or after 1 Janu8ry 2015. In our OFMiion the financial statements.. give a true and fair view ot the state of th8 Ch8riWs aflairs as at 31 Oeoember 2023 of rt8 inc(Mming r8sourc85 and applicatioh of rè$our¢o$ for thè yèar then ended: have been prop8rly prepared in a¢¢ordance with United Kingdorn Generalty Accepted Accovrrtlng Pr8etice.' and have been prèpared In accordancg with Ihe requirements of Ihe Charlbes Act 2011. 8asis for opSnlon We conducted our audit in sccord8Trce wrth International Standards on Auditing K1 <ISAs (UK)) and applicaLle law. Our r88ponsibililies under those stsndards are furth8r desciibed in the Audltols responsitMliti8s for the audit of the flnandal statements section of our rewrt. We are independent of the Charty in 8ccordance with the etFMcal requirements that ar8 r8levant to our audit of the finan(aal 5tatemenls in the Unrted Kingdom, includlng the Financi81 R8POrtiriG Coun¢il's Ethical Standard. and w8 hav8 fulfilled our other ethical responsibiliti8s in accordance with these requiromgnts. We beltev8 that the audlt evldence we hav& obt8in&J Is sufflcient and appropriate to provide a basis for our OFinlon. Concluslons r•latlng to going conrArn In auditiro the ffinancial statemenls. hav8 conc1Jed that the Trustee3' use of the going conGem basis of accounling in the preparation of the finanaal statements is appropriate. Based on the work we h8V8 performed. we have nrA NJ8ntiffied any materfal uncertanlles relallrKJ to evonts or conditions that, individualty or wllectiV8ly, may cast signifficanl doubt on the Charitys 8txbty to continue as gtsirvJ nGrn for a kwriLKI of 8t1oasl trve months from en the llnandal ststsments are authOriS for issue. Our respon8ibiliti8s and the responsily'litie3 of the Trusle85 r8SP8Ct to g(rfng concern arg desrrfib in th8 ro18vanl sedons of thls reFort. Pag& 8
IfE8GRAVE WAR MEMORIAL COMMUNITY CENTRE INDEPENDENT AUDITOR'S REpoirr TO THE MEMBERS OF KE8GRAVE WAR MEMORIAL COMMUNITY CENTRE ICONTINUEDI Other information The olhei informalion comrAi5es the infoTmatlon In¢lSed In the Annual Rewrt other than th8 finanaal statements and our Audilorfs Report thereon. The Trust88s are responsible for the other infoirnation conlain8d within the Annual Report. Our cfjlnlon on the financial statements does not cover the other information and, except to the extent Other¥$8 8xplicilly stated in our report. we do 1 express any form of assurance conclusion Ihereon. Our r6spvTibibility is to read the other iiifurmatson arKI, in d¢yng so, con¥i¢Jei whether the oth8r infoimation is materialty incortsist&nt with th8 financial statements or oui knoedge obtained In the courso of thè audit, or olheNise appoars to be materialty misstated If we identify such material inconsi8lencies or apparent material misstatements, we arg required to deteirtmne whether Ihls givos rise to a mateFial misstatement in the financial statements th&mselves. If. based on the work we have perfOred, we conclude that th8re is a matenal Msstalem•nt of thls other infomiatlon, we are rulTed to report that fact. Vlle hav8 nothing to report in thi8 regard. Matters on whi¢h we are required lo report by •xception We h8ve nothing to 18port in retst of the following matters wher¢ Ihe Ctrrarloès (Accounts and Reports) Regulations 2008 requires us to report to you if. in our OFMnion'. the Information given In the Trustees. Report is inconslstent in any material respect with the financt81 ststements; or suffic4ent accounti records havo not b&en kept., or the financial statements ale not in agreement wth the accounting records and returro., or wb have n¢ r1ved all the inform8tlOn 8nd explanations we rtyuire for our audit. R•sponslbllltiès of Trustees explained more ful in the Tru5tee'5 Responsibilitie8 Stat8ment. the Trustees ar8 responsib for the preparation of the ffinancial 5taternenls and for bèing satisfied that they give a true and f8ir view, and for such intern81 control a5 the Trustees de18rmine is necessary to enable tho preparatn of finandal statements that 8re tree from material nNsst8temenl, whether due to fraud or 8rror. In w8paring the financial ststoments, the Tru5te85 are iesponslble for assesslng the Ch8rity's abilfty to continu as a going ¢on¢orn, disclosing. as 8pplicable, matters re18t8d to going concern and using the goiTrJ Concern basis of accounllftg unless the Trustees erther Int6nd to liquidate the Charty or to Cease opera*"ons, or have no realistic 8ltemative but to th so. PBg8 9
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESGRAVE WAR MEMORIAL COMMUNITY CENTRE (CONTINUEDI Audltor's responslbllitles forthe audit of the finan¢4al stalemenls W8 have been 8twinted as au(Itor urKler stiction 144 of th8 Charrties Act 2011 and report In ac¢ord8nce Vth the Act and relevant regulation5 made or having effect thereunder. Our objectW85 8ie tr) obtain reasonabl8 assurance abDUt wheth•r the flnandal s18t8ments as a whole are fr8e from rnaterial misstatem8nt, whether due to fraud or error. 8nd to issue an Auditor's Report that includes our opinion. Reason8bl8 assurance is a high level of assufance: but is not a guarantee that an audit corKlu¢led in 9ccord8nce wth ISAS (UIQ will alw8ys d8t8Ct 8 material misst8t8rn8nt when it exists. Misstatements Gan ari58 from fraud or error and ar8 consideied material if, individually or In the aggregate, they crjuld r8asonat4y be xtsd to infiuence the economic decisions ol u8et6 taken on the basis ofthgse finan1 stat&ts. Irragularits'es. in¢ding fraud. are instsn¢e5 of non-compliance wilh 18W5 and regulptiorts. We desbJn procedure5 In line with our r8srx)nsibiliti8s: outlin&1 above, to d8tgGt material misstatements In respect of irregularSt"es, including fra, The extent to lch our procedure5 are capable of detecting irregulanties, including fraud is detailed below.. Vve idenlJfied areas of laws aTrJ regulalons that Could reasonabty be expected to havg a material effect on the financial statements frorn our g8ner81 charitable organisation ex8(8 and through discussions and enquiri8s of Trustees maiiagement. During the enoagemenl team briefing. the outcomes of th880 discussiorns were 5h818d with the team. as well as Gon5ideiation es lo where and h¢)w fraud may occur in the Charty. rhe fo1bvng la and r6gulalons were idenlfied as being ofsrfJiilfflcance tc the Gharty: . Those18WS and 18gulations considered to have a direct effect on the fftnarKaal stslements including UK financial rlorting slandardg, taxation regulations and the charib.es Act 2011. and rhg Charity is subject lo many other lews and regulations where the consequences of non-compliance could have a material effect rjn amounts or disclosures in the financial statemants, for Instanco through the imposition ol fines or libgation. W8 id8nkn.fied the following areas as those most likety to have such an effeot.. health & safety. mploym6nt law and GOPR compliance. Audit pro¢e(iures undertaken in response to the p)lenlial risks rglating to irregularilies {which include fraud and non-c¢)mplance with laws and regulalions) comprised of: enquiries of managément those charged wlth governance as to whether the Charity cornplies Vrith such regulation3- enquiries of rn8nagement a1 thos8 charged with governance Gonc&nlng any a¢tual or potentlal litigation or claims, inspection of r81ovanl legal document8tion, review of board minut88, testing the appropriateness of entrigs in th8 nDmillal 16dger, including journal entrles and the performance of analytical procedures to identify 8ny unexpected movements in account balances which Th8y bo itMlicÈtive of fr8ud. There are inherent 1atiOnS iri the audrt procgdures d8scribed above arid tl)e further removed non4ompliance with law5 and regulatsgns is from the events and tr8ns8ctions reflected in the finanei81 st8t8ments. the less like we would b¢¢ome aware of It. Irregularities that result from fraud might be inherently more diffi¢u1t to detect than irreuularitigs th81 r8sult from error. As explained above, ther8 is atT unavoidable risk that rnatgri81 misstat8mpnts may not be detected, even though the audit has bean planned and performed in accordance 1th ISAS (UK). A further description of our re5p)nsitrflities for the auéil of the finoncial slatements i8 located on the Financial Rfjporting Counthl s website at". www.frc.or -uklauditorsres Thls descrfption forms part of our Auditorfs Report. Page 10
KESGRAVE WAR MEMORIAL COMMUNrrY CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESQRAVE WAR MEMORIAL COMMUNITY CENTRE (CONIINUED Use of our report ThTS rewrt is m&Je solely to the Chanws Trustees, as a body.. In accoid8nce Part 4 of the Charitie5 (A¢¢ounts and Reports) Regulab'on$ 2008. Our audit work been ulertaken so that w8 might state to the Charity's Trustees those mattgrs w? are required to stste to Ihem In an Auditor's Report and for no other purpJse. To Ihe fullest 8xt8nt P8rmitted by law, we do not acc8pt or 8Ssume responsibilrty to anyone otheF than thè Charity its Trustees, as a body. for our audit work, for this roport, or for the opinions we have formed. Sumei Auditco Limil•d ststutory Auditor Fitzroy Housè Crcbwn Street Ipswich Suffolk IPI 3LG Date 28 lune 2024 Sumer Auditco Llmitgd are ahghe to act as audltor in terms of secbon 1212 of the Companies Aci 2006. P*Jg11
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE STATEMENT OF FINANCIAL ACTIWTIE3 FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricled funds 2023 Re$tri¢tsd funds 2023 Total funds 2023 Total luTrJs 2022 Nol•s Incomè from: Donation8 and18gaci88 Chaiitable activities Bar Income 17,375 17,375 412.321 62.682 36,350 10.713 338.272 40.177 33,480 412,321 52,662 36,350 Investrnent income Total incorne 501,333 17.375 518,708 422,842 Expenditure on: Raising fvnds Charitable actlvlll68 59,195 608.312 59.195 628,268 58,814 590.452 19,956 Total oxpondilur• 667,507 19,956 687,463 647.266 Net expenditure before net gainsllk)ss•s) on Inv•stmenl$ Net gainsl{losses) on investments (166,1741 165,920 12,581) (168,755) 165.920 (224,624) (338,861) Net movernanl in fund$ 1254 (2,581 (2,835) (563,485) R•con¢lliatSon of funds.. Total funds brought forward N8t mov8rn8nt in funds 3,936,305 1254 7.960 12.581 3.944265 12.835) 4,507,750 (563.485) Total fund5 ¢arTied forward 3,936,051 4379 3,941.430 3.944.26S The Statement of Financ481 Activit'e5 includes all gains and losses recognised in the year. The noles on pages 14 to 28 fomi part of these financial stotsrn8nls. Page12
SGRAVE WAR MEMORIAL COMMUNITY CENTRE BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Notss Fixed as5015 Tangible ass8ts Inv&slm¥nts 12 13 1,900.351 2,0SS.463 1.971,465 1,967,935 3.96S,814 3,939,400 Current assets stocks Debtors C&sh at bank and In haThl 14 15 3,941 21,772 48.256 57,925 30,034 93,363 73,969 C[lto[S. amounts falliry du8 Tmthin on6 year (107,7471 (89,1 D4) l Current liabilities l assets Total assets loss current liabilities being net assets 114,3841 4.865 3,941.430 3,944,265 Charlty funds Restricted funds Unrestricted fuThJs 17 17 &379 3.936.OS1 7,960 3.936.305 Totsl funds 3.941,430 3,944,265 The financial statsmènts wgr8 approved end aulhorlseé for Issue by thè Board of Truste85 and saned on their behalf by: NIT R Balrd Tiustee The not89 on pages 1410 28 form part of these finanrAal statem8nts. Page13
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounling policies 1.1 Basls of preparallon of financlal statements The financial slatoments have been prepared irk 8ccordan¢e the Charilies SORP {FRS 102) Accounti and Reporting by Charities- Statement of Re¢omm6ndeé Prathce applicable to charities pr8p8ring Iheii ateounts in 8ccord8nc8 wrth the Financi81 Repothng Stand8Td applicable in the UK and RepublSc of Ira18nd (FRS 102), the Financial Reporting Sl8ndard apph'cable in Ihe UK and Republic of IrelBnd <FRS 102) and the Charth05 Act 2011. Th8 ffillancial statement5 hav8 prepared to give a Irue and rai vièw and have dertsd from the Ch8rities (Accounts and Rewrts) Regulations 2008 only to the extent required to provid8 8 'true and fairf viéw. This departure has involved following the Charil'es SORP (FRS 102) published on 16 Juty 2014 rather than the Accounting and ReFxJrbng by Chaiities.. Stalom•nt of Racommended Piactlce effective from 1 April 20U5 which has since been withdT8Wn. Kesgrgv8 W81 memo1 Community Céntre rneets the definition of a wbll¢ b8n8fft ent under FRS 102. 12 Going ¢oncern After m8king appropriate enquiries, the Trustees hav8 8 r88SOn8ble expactalion that th8 Charity has •Jequate re&ourc89 lo conlinue in opefoliviial exislence for the foresee&ble ftrtuie. Ling 8 peri1 of at ltra5t 12 months from the date of approval of these financial statements and m6et its labilts'es as they fall diie. They are not aware of any mBterio1 uncertainties rel8led to 8V8nts or conditions that casl SignifiaTrt doubt upon the Chanty's abillty to continue as a goiThJ concern. Based on current inforrn8ti01i the Trustees consider that th8 Ch8rity is a going concern for the next 12 month5. Foi this reas they contlnue to adopt the going concem basis in weparing the financial statements. 1.3 Incorne All income 15 recognised m¢e the Charity has entitlement to the income. it is prob8blo that the Income Vthll be recelved and thè amount of income reGeivable can be measured reliably. Grants ara include(I In the Sernent of Financ181 Activities on a receivable basis. The balance of income received for specifiG purpos85 but not expend8d during th8 pgric¥J is shown in the relevant funds on the Balance Sheot. Where income is received in adv8nce of entrtlement of rgceipt, it5 reG(yJnilion is deferred and includgd in creditors as deferred Income. Where enlltl8m8nt occurs tfore incorne is received. the income is accru1. Page 14
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounling policies (continued) 1A Expendilure Expenditure is recognised once there 5s a b381 or con5trudive obligation to transf8r economic bènefit to a third party, it Is probable that a transfer of e¢onomlc baneffts will be required in ¥ettSenient and the amount of the oblig8titsn c8n b8 meBsured ieliably. Expenditur8 is cla8srfred by a¢tivity. The ¢osts of gach activity are made up of the total of direct costs and shared c051E, indudiThJ sUPPOrt C05ts irwolved in undertaking each 8ctivity. Direct costs attributable to a single actlvity are alkicated directty to that activity. Shared costs which conlribute lo more th8n on8 acliwty and SUPPDrt costs which are not attribulable to a single activity are apportioned betrleen those ath"vitse5 on a basis ¢onsistent with the use of reSoUrs. Central staff costs are allL)cated on thè basis of time spont. and depreclatlon charges allocated on the ptrrtlon of the ass8t'8 use. Gov8mance costs are those Incurred in connecllon ¥Mth administralon of the charity and compliance wrih constitution81 and statutory requirements. Expenditure on chaTitable activiti85 is in([[9d on dir8Ctty uThJertaking the adivities whlch fLtrth8r the Charitys objectives. as W811 as any associated support costs. o¥ts of generaty'ng ar8 costs incurred in attracting voluntary income. 8nd thos Incurr In tr8dlng acti86 that ralse funds. 1.5 Government grants Govemment gmnts are cr&lited to th8 St8t8mèfit of Finanaal Acb'viti'es as the related 8XP8tMJiture 15 Incurr&J. 1.6 Taxation The Chanty Is consldered to pass the lests set out in P8r8graph 1 SChule 6 of the Finance Act 2010 and thereforè it mèets the definrb'on of a Charitrable Company for UK ¢orpJr8tlon lax puiposes. AccDrdingty, the Charity is polentialty exgmpt from tsx8b.on in respect of income 01 capital gains received within categorfes covered by Chapter 3 Part 11 of the Corporation Tax Act 2Q10 or Section 256 of th8 T&x8tion of Chargeable Gains Act 1992, to the extent thal 8uch income 01 gains are applied excluslvely to charitable purposes. 1.7 Tangible fixed assets and depre¢iation Tangible fixed 8ssets, including freehold property. are catM'talis8d recognisèd when futurè economlc benefits are wobable and the cost or value of the 8sset can t¢ measured reliably, Tangible red asse15 are initially recognised al cost. After recognition, under the cost model, t8ngibl& fixed assets are mgasuTed al cost 1858 sccurnulatad depreciatson and any accumulated impairment Ise$. All co8ts incurred to bring a tangible fixed asset into its int8nd8d working condltlon sM)uld Included in the measurement of ¢ost. At ea¢h reporlng date the Charity as5es£es whether Ihere 1$ any indication of impairment. If such indication exists, the recoverable 8mount of the asset is d8tormin6d to b8 th& higher of Its fair value less c¢)sls to sell and its v?lue in u8e. An impairment loss is re¢ognised where the carrying amounl •x¢e&ds thè recoverable amount. Page 15
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 Accounting policies (¢orrtinuedJ 1.7 Tanglble Ilxed assets and deprèclatlon lcontinwed) Depreciation is charged so as to alloc818 the Cost of tangible fixed 888ets less their rIdUal value over their estimatad us8ful lives, Depreclati¢n Is wovlded on Iha followlng bases.. Ffeehold property Fixtrjres and fftttngs 2% - 20% slraighl Ine - 20DA reduThffj balance 1.8 Inv•strngnts Flxod asset Investrnents are a form of fln2nclal instrument and are inNJalty recognised at their transaGtion cost subsequently measured st fair value at the Balance Sh881 date. unless the value cannot bo meosured reliabty in which oase it 15 rneasur at Cost less impairment. Irnv86tment gains and IcEses, whether realised or unrealis&d, are comb1Tr and yesented as 'GainsllLosses) on investrnents. in the Statement of FinanThal Actiwrti85, 1.9 Stocks stocks are valued at the lower of cost n8t realisable value after rnaknng du8 allowance for obsolete and SI0mOvIng stocks. 1.10 Liabililies and provisions "abtuties are rgnIsed when there is 8n oblig&b"on at the Balance Sheet date 38 o r8suII of past ov6nl, 11 Is probable that s transfer of economic benefit wll wuireé in settlement, and th8 arUnt of the 68ttbement can be estimated reliably. Liabillbes ar8 re181 at the amount that the Charity antlcip8t&s 11 w511 poy to settlo the debt or th8 amount it has received as edvanc8d p8yfflent5 foi the goods OT services it must provide. 1.11 Flnanclal Instrurnenls The Charity onty has financial assets and financial li8bilrti8s of a kind Ih¥t qualify as basic financi81 nstTuments. Basi¢ financial instruments ere inltialty recognised at transaction value and subsequanlly measured at their s8tt18m8nt value with the exception of bank logns whiGh 818 subsoquenty m6asured at ainoTOsed cost Using the ?ffectiv¢ interest Inethod. 1.12 Operating kases Rentals paid under op8r8ting lea585 are charged to the Statemenl of Financial Activiti8s on 8 Str8tght liné basis th*ar tho lease temi. Page 16
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ounting policies {continued) 1.13 Fund accounling General fynds aré unrastricted fuTrJs whth are avallable for use at the dlscrooon of the Truslees in furthor8nce of the general objectiv8s of the Ch8rity 8nd wtrich have not t*en desvjnated for other purposes, Designated funds ¢omwise unrestricted funds tho1 hgve been set aside by th& TnJst885 for partlGular purpos8s. Th8 alm and use of each designated fund b set out In thè notès to the finan81 8t&tements. Restricted fund8 8re funds which afe to be used in SOrdSnce wth restrirtions ImSed by donor5 or which have been raised the Charity for pprtocular purposes, The costs of r&sing and administering such funds are charged against the specifiG fu1. The aim and use of each restricted fuiid is sel out in the notes lo the fir)anry8151atern8nts. Investment income, gains and 103ges arg 8110¢8led to the gppropri8te fuThJ. 1,14Statement of Cash Flows fin8nci81 st8tements do not include a Stalem8nt of Cash FloThs because the Charity, 88 small reporting entity. 15 exempl from the requirement to prepa18 such 8 stsiement under S8ction 7 ofthe Charity SORP. Income frnm donatlons and legacies Unrestricted fund$ 202J Rèstricted funds 2623 Total funds 2023 Tot81 funds 2022 Grants 17,375 17,375 10.713 Total 2022 4,OQO 6,713 10,713 Page 17
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
3. Income from charitable activities
| Hire of halls Hire of outside facilities Hospitality Sundry hire and community events KWMCC Events Total 2023 Total 2022 |
Unrestricted funds 2023 £ 201,809 93,624 55,192 26,189 35,507 412,321 338,272 |
Total funds 2023 £ 201,809 93,624 55,192 26,189 35,507 412,321 338,272 |
Total funds 2022 £ 169,215 95,647 30,238 26,479 16,693 |
|---|---|---|---|
| 338,272 | |||
4. Income from trading activities
| Bar income Total 2022 Investment income Dividends received from listed investments Bank interest received Total 2022 |
Unrestricted funds 2023 £ 52,662 40,177 Unrestricted funds 2023 £ 36,079 271 36,350 33,480 |
Total funds 2023 £ 52,662 40,177 Total funds 2023 £ 36,079 271 36,350 33,480 |
Total funds 2022 £ 40,177 |
|---|---|---|---|
| Total funds 2022 £ 33,444 36 |
|||
| 33,480 | |||
5. Investment income
Page 18
KESGRAVE WAR MEMORIAL COMMUNftY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Net (expendlturnylncome 2023 2022 This is ststed 8ft8r charging: Oepreciation of tanglblè llxed assets Audll(Mts remuneration- audit of the Charlws ffinandal statements 74.763 7,524 78.620 8.180 Expendllure on ralslng fvnds Unr4strlcl•d funds Total funds 2023 Tcrtal funds 2022 2023 BaT purthases Investment managem8nt cl6 24,842 31.972 24,842 31,972 10.039 56.814 66,814 10.039 Total 2022 36,543 36,543 Analysis of expondituro on charitable activitias Summary byfvnd typ• Unrestricted Rèstrictèd funds funds 2023 2023 Total 2023 T81 2022 CharltaLqe actlvlles 608.312 19.958 628.268 590.452 Total 2022 586,650 3,802 590,452 Page 19
KESGRAVE WAR MEMORIAL COhlMUNITY CENTRE NOTES TO THE FINANCIAL STATEpJfEKTS FOR THE YEAR ENDED 31 DECEM8ER 2023 Anatysis of expendfture by a1ville Adiviti?$ undertaken directly Total funds 2023 Total funds 2022 2023 Charitable actmties 628,268 628.268 590.452 Analysis of direot costs Activities undertaken irectly 2023 Total lunds 2023 Total funds 2022 Stsff cost5 {se8 note 10) Light end heat Sports Hall activiti8S Rates In6urance Cleaning costs Pl8yirKJ fi81(J & ptayground maintenance Sundry repoirs & maintenance Telephone Porformlng rhts fee Retse collection Securty cists 288,431 21 ,791 12,405 10,228 6,018 19,S54 8,407 10,305 7,176 2,052 3,571 2,614 288.431 21,7$1 12.405 10,226 6.018 19.554 8.407 10.305 7,178 2,OJ2 3,571 2,614 256,774 20.804 5,000 9.371 5.675 21,549 14,649 15,884 7,478 604 4,510 2.216 è11] Postage & slalionery computs.ffj costs Depieclation of flxed assets Proparty repalrs Advertising Hospitality Gas Loss on disposal of t0¢bI8 fix8d assets KWMCC Event costs Accountancy Governance c(Bts 884 540 27,355 74,763 6,216 2,259 31,S75 19,047 27,355 74,763 21B 25.788 78,620 12,133 1,289 17.313 20.502 30 24,212 17,055 28.456 2.259 31.575 19.047 34,792 20,955 17,872 34.792 20,955 17.872 Total 628,268 628,268 590,452 Pago 20
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Slaff Costs 2023 20f2 W&Jes and salar Social security costs 267.725 20.706 243.718 13.056 Total 288.431 25e,774 The average number ol persons gmpbyed by the Charity during Ihe y88r w88 as follow3.. 2023 No. 2022 No. Charitable actNities 11 Management & adminlstrallon of th8 Ch8rity 12 13 No employee recelved rernuneration anulIng to more than £80,000 in esther year. 11. TfUStees' remuneration and oxpens•$ During the year, none of the Twste88 r8c8iV8d any remuner8tion or other benefits P022- £NIL). During the year ended 31 Decemtw 2023: no Tru8tee expensas have been Incurred {2022 - £NIL>. Page 21
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEM ENT5 FOR THE YEAR ENDED 31 DECEMBER 2023 12. Tanglble Ilxed assets FT6ehokl FLxtures and property frtbng8 Total Cost At 1 January 2023 Additions 1,989.381 116,982 3,649 2.106,363 3.$49 At 31 December2023 1,989.381 12ts,631 2.110.012 Depreciation At 1 Janu8ry2023 Charge for the year 100.140 58,054 34.758 16,709 134.898 74.763 At 31 December 2023 158,194 51A67 2Q9,661 Nel book value At 31 DvLemtJer 2023 1.831.187 69,164 1,900,3S1 At 31 December 2022 1,889,241 62,224 1,971.465 Page 22
KESGRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Fixed asset inveslments Listed invastments Cost or valuation At 1 January 2023 Addltlons Disposals Revaluations TTrnsfer to cash 1.967.935 420,758 1495,2561 16S,920 13.894) At 31 December 2023 2,oSS,463 Included in the 8bov8 8r8 pr8f&rence shares with a Market Value of £88.311 12022. £25,200). The underfying market valuatson of these instruments is based Upon the p9rformance of Ihe S&P 500 index: 8nd the SE 100 irKlex. One of thfj inslium8nts has a redemption dale of 27 Octob8r 2027 and the other a reMptIOn date of 22 November 2024. The market for the instrument 18 not active with reMptiOn being subject to prov18ions set out in the terms of the issuer. In the absence of active tradino the instruments would cl055ifi8d as illK4uid in nature of th8 markot mgan5 that the instrurnents are not trad8d regularty and not readity realisation lo the Charity. The preference shares have 8n inler88t entfM8mont of 0% and have b88n inv8St8d in wilh the Intent to achievts capital growth. 14. Sto¢k8 2023 2022 Bar slo¢k 5,404 3.941 15. Debtors 2023 2022 Duè within one year Tr8d8 debtors Prepayments accrued income 64,357 3,668 19.767 2.005 57,925 21,TT2 P8g8 23
KESGRAVE WAR M EMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Creditors: Arnounts falling due within ong year 2023 2022 Payments received on 8Gcounl Trade Creditors Other taxalicn and sodal security Other credito A¢cru815 76,709 9,347 5,922 799 14,970 32.930 14.338 4.877 1,913 15,048 107,747 69.104 2023 2022 Defeirnd in¢ome Deferred income at l January 2023 Resources deferred during the year Amounts r818ased from pravious years 32,930 76,709 132,9301 32.930 76,709 32.930 Deferred income relates lo payments on account for od'vrties booked that relate to futur8 8ccounting riods. Page 24
KESGRAVE WAR MEMORIAL COMMUNifi CENTRE NOTES TO THE FINANCIAL STATEM ENT8 FOR THE YEAR ENDED 31 DECEMBER 2023 17. Statement of funds Slatement of funds - current ywr BaFance at 31 December 2023 Balance al 1 January 2023 Gainsl (Los58s) Income Expenditure Unrestri¢ted funds General Funds - all funds 3,936,305 501.333 1667,5071 165,920 3,936,051 Restricted funds East Suffolk communty partnerstrips SPARK Grant Tim8 together Tuesday Grant Summ8r H(AMlay Activities Grant Teenage Hangout Grant D8fibrllalor Gr8nt Flow8rb8d Grant 7,960 5.012 1.000 1.250 18,176? 11,0001 1667) 4,796 583 4,095 2.000 2.000 2.018 14,095) 12,000) {2,0001 12,0181 7,960 17.375 (19,9561 5,379 Total of funds 3,944,265 518,708 (687.4631 16S,920 3.941.430 Page 25
KE8GRAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Statement of funds {CotIne) SL*ement of funds - prior year Baknce at 31 Galnsl Decemb8r {Loss8s) 2022 Balance 81 1 January 2022 Translef5 inlout Incom0 ExwTrdire Unrestricted funds General Funds - all funds 4,499.370 415,929 (643.464) 3,331 (338.861) 3,936.305 R•strlctsd funds East Suffolk community partnerships SPARK Grant Time together Tuesday Grant 8,380 3,382 2,631 (3,802) 7,9SO (2,631) 700 00) 8,380 6,713 (3,802) (3,331) 7,960 Total of lunds 4.507.750 422,642 (647.266) (338,861) 3,944.265 Page 26
KESGItAVE WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL sTATEmEr8 FOR THE YEAR ENDED 31 DECEMBER 2023 18. Summary of funds Summary of funds- current year BaPanco st 31 Decembef Balance al 1 January 2023 Galnsl {Losses) Income Expenditur8 2023 General funds Restricted funds 3.936,305 7,980 501.333 17,375 1667,307 118,958 165,920 3,936,Q51 5.379 3.944,265 518,708 1687,463) 165,920 3,941.430 SumTllary of funds- prior year Baknce at 31 Decemker 2D22 8alance al 1 January 2022 Transfers inlout Gainsl (Losses) In¢ome Expenthtur8 General furds Ro$tri¢tgd funds 4,499.370 8.380 415,929 8,713 {843.484) (3,802) 3,331 (3,331) (338,861) 3.936.305 7,96D 4,507.750 422,642 (647.266) (338,861) 3,944,285 19. Analysls of nel assets between funds A TralYS of net a$s•ls betrn funds- current yoar unl1¢d Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset inveslments Current assets Cr&JltOfS due wlthin one year 1,goD,351 2,055,463 87,984 (107,747) 1,900,351 2,065,463 93,363 (107.741) 5,379 Totsl 3,938,051 5,379 3.941,430 P8ge 27
KESGRAVE WAR M EPAORIAL COMMUMn CENTRE NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2023 19. Analysls of net assets belween funds Icontinu•dl Analysis of assets beknween funds - prior yaar Unrestricted funds 2022 Restricted funds 2022 Tolal funds 2022 Tangl0 fix8d assets Fixed asset in¥gStmentS 1,97T,465 1,967.935 66,009 {69,104) 1,971,485 1,967,935 73,969 (69.104) Current assets 7.960 crltorS due *Athln one year Total 3,936,305 7.980 3,944,265 20. Relalod party transa¢tlons There is no ultimate controllng w. The key management personnel of the Charity received remuneration of £50.341 P022 - £47,OS91 during the year. There were no other felated party Iransartions in gither year. Paoe 28