Chasity Tegi5tration numkr.. 1190650 Little Parc Owles Trust ￿e￿rt atxl Financial S￿ements for the Year Ended 31 August 2024 D.J. Reynolds & Co. 15 Alverton Street Penzance Cornwajl TR18 2QP Little Parc Owles Trnst Contents Reference and Administrative Detsils Strategic Report Trustees. Report Independent Auditors, Report 12-15 Ststement of Financial AciivitL¢S 1&17 Ba1￿ce Sheet 18 Staiernerrt ofca5h Flows 19 Notes to the Finartci41 Stsiements 2￿29 Little Owles Trust R¢f¢renfe and Admini5twative Details Chalrmx Jan EIi7Abeth Bright Trustets Jan Elizabeth Bright t￿￿}se JaJte ConrKII MaTia L￿nn¢ Whiiehouse Michael Edward Gac8 PeterCIouEh Barbarn Mary Kilk Siephen Kevin Whtlehouse Robert Andrew McKellar Chwrity Registration Numbtr li9￿50 Regi5t¢red Offitt rjo CVC SolÈ¢itOTS Que5tmap Busintrts Park Piniou Way Long Rwk Cornwall TR20 8AS Prkntipal Offi Unit 7. Planthtion s￿re Foundry Lane Hayle Cornwall TR27 4HD Auditor TC Group Vivian House Truro Cornw'a]I TRI 2DP AceouDtants DJ. Reyrtolds & Co. 15 Aii'erton Street Penzance Cotnwtll TR182QP SDli¢itor5: CVC Soli¢itors Que5tmap Busin￿ P Pinou Way Lortg Ro¢k Cornwajl TR20 8AS Banker5 HSBC l Greellmarket ComM'all TR182SD Investmtnt ma￿￿tr5 Ch¢twood Wealth Management Ltsl 60 High S(reet Wellington SomeTscI TA218RD Little Pxre Owles Trust Strategic Report for the Year Ended 31 August 2024 The truste¢% who are directors for the purpos&5 of ¢otnpany law: present their repon for the year ended 31 August 2024, in complianc¢ Thith s414C of the Companies Aci 2006. Aehitvtments and pèrformance The grartt5 that iverc award￿ help produ¢c att impaci on b)th the immcdia* btt)eficiarie5 and to a wider society within Comwall. For example- The grani io CAST help￿ support CAST-OFF. their summer programm¢ of off-site: outdoor. artist-led creative activitie5 for children and families which takes place at the Naiiona] Trust Penr05e E5GqLe. This 15 8 free 2nd accessible progr&ntne which reaches otrt io local families mav TKVCT have been io CAST or their Workshops before. In 2U24, the public CAST-OFF progrAmm¢ had 2108 wanicjpai)ts, more than itj any previous y&2r. The grdni to the Royal Cornwall m￿￿m helped thcm develop their irtnovative demtniia programme using artwork5 2nd activities in Memory Cafes and Clubs, which SUP￿￿rted 155 individua15 Wlth dementia and memory loss. They a150 took part in an outreach pilot for l(YAI Jtsiderstial home - The 8￿1 to Harveys Foundry Tn￿t fvndd part of the aciivity plan for Haylc HerS￿ry - an exhibition for'uniold Wotnen's stories at the heart of a Cornish town." These activiiies PTktJ]arily aimgl at familie5 and childrtn aged 8 10 14. included se&8ions featuring crafi ¥4'0rk with an and geolo&v. photography. texiiles and the Con5tnJciivist artist Maryard Melli5 who camouflaged the ehimneys of Hayle Power Station during WWII (and lived at Linle Parc Owlesl. FTnancial review The Trusts, lotal incorne for the year ettding 31 August 2024 iyas £5,039,671. Of this £5,￿25,570 r¢presented the legacy received. £10.856 represented incorne from inveSt[n¢n￿ £2.595 wss from rent re£eiv¢d amd £650 wa5 from other sources and donations. Graa)ts awarded totallcd £5,890, £11,689 w&8 spent on Governance costs and £14,919 on Support COSLS. The in¢rease in value of the investsnenis to￿1¢￿ £745.061 and thert was a loss on the sale of sojne ￿Sets of £4,423. Ovcrall. the TruM achiev￿ a Surp1￿ Tor the yw of £i,747,811. The thtirity 15 in an excelletlt financia] [￿SItiOn to fvifil its principa] aims for the fortseeable futll￿. Poliey oll reserves Our reserves policy originalty srrtified £15.1)(KS &s the fJ8ure below which our fEnancial reserv¢s would rtot be alloived io fail. We norniaily mirw our ￿liCY ￿N￿￿lY and the reserves ¢urTentfv held now Gxceed thai 13id out by the policy. Little Pare OW1￿ Trnst Strategic Report for the Year Ended 31 August 2024 Prlncipal fullding 50orce5 The pritnary source of fun(Ls in the year to 31 Augu￿ 2024 kn come from Lady Htsllantt5 Estste. Wc appointed Ch¢twoods as out InYe5trttent Manaw in March 2024 atKI our porffolÉo was set up an initia] investtncnt of £1.8 mÈllion. We also have two CCLA COIF fun(Ls. The bungalow (Tall Trees) has a lif¢time and is managed by a rents] ogellcy. We have been receiving rtnt frorn this propoty siT￿t June 2024. In her later year5, Ladv Holland ivanicd Liule Parc Owles to be¢orne a Thall scale art retre&L To achieve this, the house tteeds considetable re￿O￿ation. pro8tamme d¢veIopmen( and subsidising. Trus(ees were Conc￿￿ed Ihat ihe poicntial Costs of openinE and running an art tetreat Trersus ￿SSible income were not viable in the Current economie clitnate. We a2ftYd io clear the house aTLd carry oui b￿lC re[￿VationS so that the h0￿c can be rented, but to seriously reconsider our op(ions for an art retr￿ after tivo jear& Renovation woth the aubjmn of 2024. Inv¢5tment polity xnd objectives Wt have an iniestment poliGv 5taiemenL and ￿tt￿o[￿￿ mat￿Be the major investsneni portfolio. The Trust relies on generating a steady and increasing income frorn that portfolio which it iniends to distribute taGh year to fvlfil lis mission. Investments are Centr￿ to fulfilling th¢ Ch￿Ity'S goals by gencrdting growing annu income and moderate capi￿1 growth. while a]so pruerving the pur¢h&%ing ￿tr of the Capital value in real tenns after inftation. Thc tsbjective is to a]lo¢ate the income ea¢h Y￿r. targeting a distribution of 8n)und £80,000 per year as and when required. The valuation of the chetwO￿ portfolio ￿ at 31 August 2024 wa5 £1.976.571. Platt5 for future ￿riods Aims and key objcctivts for p¢riods The Hollands were commiiied to the obiectivcs of the Tru& al￿ we intrnd io (2rry i)n and expand the work don& 11 is att exciting lime. We will now be able to offer more, and higher. grants aJ]d Increase the number and ]3nge of events within 2 10 pr(Ivide modest grants to support art ¢du￿tIOn M'OTk- in Comwa]l tt[￿ supplied li]nit¢d funding for some year& TheT￿$tW&S ￿ be the residual beneficiary of their Esta After Sir Geoffrey's death in 2017, the Trust advised to become a Charitable IncorptsRted Or8anisation {CIOI, and r¢gi5tered as such tn 2020. Lady Ho112ttd éied Octobu 2022 and, over the year ending 31 Augus¢ 2024. the Trusi ha5 inherited the majoTity of her Estate. This includes their home (Liltle Parc (hvles), an adjacent pmperty with a lifettme tenant. their ad and book colle￿lOn and investment funds. The goveming d[￿ullent s¢at¢s the obFct ofthe CIO ￿ to edut•e the public in the practiee and history of the Fin¢ and Applied Arts in Cornwall. The Tn]si'5 mission 15 to SUPPOrt projects and events th& engage audien￿5 of all ages and backgrounds with the Finr and Applied Arts in Cornwall. Objettives aetlvlt5t$ Objects xirn5 The governin8 d￿LiMent Statts thai the obiert of the CIO is io the public in the practice l￿d history of the Fine and Applied Arts in Cornwall. The Tr￿S['S tnission Is 10 5uprM)rt projects and evenLS th* enwdge audientes of all ages and backgrounds ivith the Fine and Applied Arts in Cornwall. Little Parc Owles Trust Trustees, Report Publit b¢tt¢fJt Comw2]I has a rich and engaging history of art and artis4 athd is a ereativ¢ hub for ffj design and artisti¢ p]¥rtiG¢ ioday. The main activity io fijnher our putp)se ha5 bra) to support prOj￿ts and events for public benefjt that explore art. artiSLS and design with links to this heritage and cu￿1 pradices in Cornivall. We welcome propos￿$ that ¢nrourag¢ CTeatbYity and explore art and anistic prartiC¢5 promote a wider public understanding 2nd exploration ofthe Fine Applied Art5 in Cornwa]l. We welcoTne ￿0p0S11S that engage iviih our mi&sion thrwgh divers¢ art f(rns.' from art history to Vi5ua] ans perfortnan¢e and music,. digit2] and online activity to ￿lptu￿ and w)ety. We a150 welcome applications that include multiple art fomis. Tht ¢wstees ¢ot)firm that they have complied with the requirUn￿[S of setiion 17 of the Charitie5 Act 2011 io have due regard to the public benefit guidante pyblishrd by the Charity Commission for En8]and and Wales in deciding Ivhat activities the tharity should undenake. Little Pare Owles Trusl Trnstets, Report Grant making policies The Tn￿t h&8 an ¢5tablished gtsnt-making poliw tts ¥hieve its objects for the public i￿ner]i. refleC￿d in our dei&iled application fonn and project evalu8ttOn. In order io maxi￿15¢ the valuc of our re￿ree& the TTu#ecs decided tts futhd projects or events rather th individu415. Participants or b¢neficiaries can be of any age and wc welcome projects that encourage diversity. ac£ess and inclusion for the wider eommunity. We do not acccpt 3pplicaEioJJs frotD out5Éde comw￿l. The TnLS( makL% a limited n1mib￿ of grdnts ptrytar. Usuajly Tru5rees expect to fi]nd projecw workshops or event Wlth a maximum grant of £3,(X)O in exttplionai cw& We accept applications from Sch￿15, bui the project mug involve the wtder community and align with the Trust's ll2ission. We do rtoi fund activlty wbich t5 the core remti of the school and which should Ix funded through educational budgcts. We accept applscations from people who under 18 if apply with an ￿Ult mcnthr who will provide a referentt. The￿ is a cl¢ar process for agTeeing a 8taE21 en5uriThg that the projeu takes plac& Allocatiott of fvnds will generdlly be post projeci and after receipt of a wojeet eva]uaiion which is reviewed by the Trustees. If there is a need foT a pre-project release of funds. this mugt be outlind on the applicaiion foTm. In the year to 31 August 2024, the Trnst paid our ￿an(S ￿￿]lIng £5.890 ￿ the foll<￿ing orgdnisation5". - Cornubian Art and Science Tn1￿ ICASTI - £I.(M w support their summer holida). progrdmme of creative artist- Id activities for families. - PtnzanGc Town Counctl IPen2ee House}- £l.(IK) for chtldren's wothoF6 centrEd on artwork on display. - St. Jves School of Painting Youth Programtne- £390 to support a piloi scheme for skate￿ard art. - Royal Comwall Museum (Detnentia Gr(wp)- £l.(MM) io wpport their innovativ¢ -fftemory loss. prtsgramme with art workshops. - Harveys Foundry TnJst- £2.51M) to supt*Y¢ arli￿lIeS around the Hetstory exhibition. The Trusl also approved t number of other gtants which. due to projea liming& will not be paid until the following Coing tontern The Trustees haye ¢onsiderd the perfotmance of the inve￿ment ￿rtfolio5 &8 well as the outgoin£s and futUTe commitrnents. Ive have a 8ood expectation that the Tnjst h&s adeqlla¢ resourc£s to continue operatin8 for the foreseeable future. 50 there are uncertainiies akntst the charity not kit)8 a Going Concern. The T￿51 intends to ontinue wo￿l￿g itk Cornwajl for the long tetTh. Little Parc Owles Trllst Trnslees. Report Tru5tee5 and offiters The trU￿ee5 aNd otTicers serving duriThg the year and since the year end were &8 follows: TrustttS.' Jan Elizabeth Bright Louise Jane Connell Maria Lttsnne Whii¢hou5e Mitltael Edward Gar Peter Clough Barbara Mary Kirk {ap￿)it￿ed 6 September 20241 Sitphen Kevin Whitrhouse {ap￿Tri￿*￿ 5 September 20251 Robcrt Athw McKeUar lappDillt¢d l April 20241 Chairman: Jan Elizabeth Bright Strnttiirey Eovcriiaiict mAD%etment NaturE ofgov¢rDing do¢wlletsi The Trust W35 registered &8 a Charitsble IncoTP(Kated ¢kntiisation (CIO - Nol 19(kn50) in 2020 and hence ha5 a constitution. The only persons eligible to be ￿emberS of the CIO ar¢ its charity TTUSt¢e5. and any member and charity trusiet who ceases to ￿ a charity trustee automatically ce35e5 to b¢ a jnemberof the CIO. The Board h2$ the power to appoint wjdilionai tru5ttts as it cottside￿ fit io do w. Although no spe¢ifi¢ training is required for new m]stees. the CIO Cot￿l￿tiOn, latest Annual Report and StaÉ¢rnent of Accounts art tnade available, and they are made awwy of the useful guidance offered by the Charity Commission and others. Policy decisions are madc by the Board ai regularTn¢etings. Fln¥llcial instrnmellts Objectives poll¢ie5 Thc thtirity'5 activitics exp05C it to a nwnber of fin*JciaJ risks includtng iYedÉi n5K cash tltsw risk artd liqllidiry risk. Cash tlow risk The charity's activities expos¢ it primati]y to the financial risks of changes in interest rates. Ittterest bearing wets and liabilities are held at fixed Tale to ensure ¢ert8inty of cash flow& Little Parc Owles Trust Trustees, Report Credit risk The charity's principal financial assets are bank balart¢es and cash. trade and other receivables, and illvesrments. The charity's credii risk ts prttnÈrÉly attributsble io its trdde re¢eivable5. The aTnounts preseÈJied in the balance sheet art net of allowances for doubtful receivabl¢& An allowanc¢ for iMp￿￿]ent is tnade w'her¢ there is an id¢ntEfied loss event which, ba5¢d on previous experience: 15 ¢videnc¢ of a r¢duction in the retover4bility of the cash nts%Ys. The Lredit Tisk on liquid fund5 and derivaiive firLancial Knstrnrnents is limited betau5e th¢ counterparties aTe bank5 iviih high ¢redit-Mings assigned bv internatio[￿] credit-tating agencie5. The chartty h&s rto $ignifi(anl conceniNiott of credit risK with exposure 5pre4d over a la￿¢ number of ¢tsunterparties customers. Liquidity risk In order to maintsin liquidity to ensure thai sufficient fithds ￿ available for on80ing operations and future developments. the ehariiy use5 a tnixture of long-iemi and short-term dwosits and investments. ststtmeni of tru$tC¢5' re5pon$ibililies The tnJ5t¢¢s (who are also the ditrctor5 of Little Parc Owlcs Trust for ihe purpose5 Of company la%¥) are responsible for pttpaTing the tW51e¢s' T¢POrt and the financial S￿efflents in ac￿rdanCe with applicable law and United Kingdom Accounting Sthndards {United Kingdom Generally Accepted Accounting Pradi¢e}, including FRS 102 The Financial Reponing Stsndard applicable in the UK and Repllblic of]￿land-. Company law requires the trustees u) prepare fjnartcial staiements for financial year. Utider ui]npany law the tru51ees musi noi approve the fin&ncial ststemetts unlcss they are S*isfied thev give a irue and fair view of the stst¢ of affairs of the charitable company and of the incoming resouTCCS and application of resources. including i(S incom¢ and expenditur¢. of the chaTiiable company for that peri￿. In PTrpariDg the5¢ financial sts[emen￿ ihe trnstees are requiTed to= Se￿ell suitoble accounitnE ry)licies and appty them consistently: obserye the melh(￿S and principle5 in the Charities SORP. make judgements and esti#J*s that are re￿nable and tKuden4 State whether applicable accoutttitiE Standard4 coTrLprising FRS 102 have bren followed. subject ts) any maierial dcp2rtur(% disclosed •Jd explaind in the financial ￿￿e[ThenL$. alld prepare the fin2ncia] S￿￿ments on the going concern b&sis unless it 1$ iTw>propriate to pr¢sum¢ that thc ch¥rritsble company will Continue in bu5in¢ss. The trustees are responsible for keeping proper attoun¢ing records that can disclose wth re￿nable accurdcy ai any time the finantial p051tion of the charitsble company and et)able them lo ensure that the financial ststements ¢omply with the Companies Aa 21M)6. Th¢}. a150 re5pon5ible for safeguardiJ]g the a55ets of the charithble coThpany and hence for taking Teasonable steps for the pr¢v¢ntion and detection of fraud and other irregularitLeS. The tru5Lees are responsible for the mainlenance and iniegriry ofthe cot5￿* aDd financial inforn)&ion included on the charitable company's websi*. Legislation governing the preparation atjd disstminaiion of finan￿al SthEements may difler fTOtn l¢gi51*ion in Oth￿ jurisdictions Disclosure of illfonnatiott to xuditfjr Each trusiee has taken steps th31 they ought to haye taken as a tru5te¢ in order to make theTns¢lves aware of any relevani audii infoTtnation and to establish the charity's audiiof LS aware of that infomLation. The tNStee5 confjrni that ihere is no Televant information that they know of and of whith they know the auditor is unawaTe. io Little Pare Owle5 Trusl Trnstees. R¢port 12K13r2026 The at￿￿81 rEtrf)n w&s apptt)ved by the tnJste¢s of the charity on.................... and signed on its behalf by.. hi Chairman and TTuslee MiLhatl Edward Gara Little Pgrc Owles Trnst IDdepeDdellt Auditor's Report to the Members DfLittle Pare Owles Trust Opillio Wc have audited the f￿ancIal stat¢mcnts of Lillle Parc Owles Trust (the 'charity') the vear ended 31 August 2024, which comprise the Statemeni of FiT￿)cial Activities. Balance Sheet, Sratemeni of Cash Flows, and Notcs to the Financial Ststemeni& including x SUTnmary of s2gntfi&]rt( atcowiting policIcs. The fjnancial reportin8 fratnework thai has been applied in iheLT preparaiion is appli¢ablL law and United Kingdom Accounting Sfandard5. including Ftnan¢ial Reponing sL￿dard 101 The Financial Reponin8 s￿d￿d applicable in the UK and Eiepublic of Jreland Iunitcd Kingdom Ci¢nerally Accepted Awounting Prdciicel. In ouropinion the finan¢i#l statements: give a in]e and fair view of thE of th¢ chariiys affaiT5 as at 31 Augw 2024 and of its incoming resou￿$ and application of resource5, including its intome and ¢xpmdibJre. forthe V¢8[th￿ ended. have been pn)perly prepared tn accordance i¥ith United Kingdom Gentrally Accqited Accounting Practice. ?￿d have been p]Epared in accordance with the reqU]ran￿rtS of the compa[￿e$ Ati 2006. Basis for OPilliDII W¢ conducted our audit in ac£ord2nc¢ with Intern￿lon￿l SL￿dards on AudÈ(tng {UKI {ISAs (UKII and applicable law. Our respN)nsibiliiies under ihose srandards are further descTibed in the Auditols responsibilities for the audil of the financial statements secTion of our rerxjrt. We alr indepthdent of the charity in ac¢i)rdance With the ethic requirements that are relevant io our audil of th¢ financial siaiemeiits in the UK. includin8 the FRC'S Ethic21 Standard, and we have fulfJll¢d our other ethical restM)n5ibilitie5 in accordanc¢ with these rcqutrements. We IKlieve that the audit e￿IdenCe we have obtained is suffi¢iEn¢ and appropri&e w p]Y)&ide a basi5 for our opinion. Conelusions rtlatimg to going tODcern In auditing the fmancial Statemen￿ iY¢ have concluded that th¢ tn￿ use of the going c¢mcern basis of accoL￿tIng in the preparation of iht fJnan¢ia] staiejllents i5 appropriatr. Based on the work we have perfomie¢L w¢ have not idet*iLfied anv mateTiaJ uncertainties relaitng to ￿entS or conditions thai, individually QT collectivelv. may Cl￿ SiEnific*Jt doubt on the charily's ability to coniinue &8 a going concern for a period of at least twelve months from wthen the original fman¢iai tst¢men15 w'ere authorised for issue. Our responsibilities at￿ the rr5ponsibilitse5 of the trusoes wÈth resFcl to goKng concem *e des¢rib¢d in the relevant sections of this JepoTL Otbcr Inform3ti011 The other inforrnaiion COmPTise5 the inforni￿10rt included in the annual repffi other than the fittancial stsiemenis and our auditoe5 r¢port ihereon. The tsijstees are rewn5ible for the other infonn&ion contained within the annual report. Our opinion on the rtnantial sthtements does not cover the other infornation attd we do not express any fonn of ￿Surance conclusion thereon. In connection wilh audi[ of th¢ fiTLancial staitmenw our trsFK>n5ibiliiy is ts) read the other information and. in doing so, consider whether the other inforrnation is materially inconsisitnl with ihe financial SthLttncnts or our knowledge ob12ined in the audit or otherwise apptats Èo be maieriJlj missLqted. If w¢ identify such matLYial inconsistencies UT apparent material misyateJn¢nt% we are required io detertnine whether there is 3 tnaterial misstatement in the financial sthiements or a rrbaterial missia(ement of the other infonnation. If. based on the work Ive have perfonned. we conclude that i$ a Materi￿ mi&statement of this other infomiatiots we ￿ ]tquired to report that fact. We have nothing to rq)ort in this regard. 12 Little Parc Owles Trust Independenl Auditor's Report lo the Members of Little Parc Owles Trust Opinion on other mxtttrs pre5¢rtlJeil by tht Compa*its Att 2006 In our opinion, based on the work undertaken in the course of the audi1= the infomiation given in the StrdTegÉc RepDrt and TrLLStee5' Rqx>n for the fJJwJ¢ial year f(K which the finaJLcial statements are prepared 15 coThsiMeni with the fipanriat *a*ments' and the Strdtsgic R¢port and Report have bttn prtP4rrd in accordance with applicable legal requiremenLS. Matters on are required to rt￿rt by exttption We havL nothing to report In T¢5￿cl of the following matte[5 in re[￿lon to which the Chari¢tes (Accounts and Report51 Regulations 2008 requires us io rew)rt tr* you if. in our opinion= suffjcitni accoursting records have T￿1 bttn kepi- or the infomiation given in the flnancial sth*ments is incoffjistent in any material r¢srKa with Lhe rep)rt' OT the financial statements ajr noi in agreement with the accolmiing ￿. or we have not￿£]ve4 all the infornjation and explanations we WUiTe forour audiL RespoD5ibilitits of trusttts As explained more fully irt the s¢a*meDt of r&%tMMJsibilitie& the trus*es awe responsible for the prepaTati¢MJ of the ffftancial 5taiernents and (or ￿Ing satisfied that they give a trne and f￿r vÈ¢w, and for such internal control as the tTU5t¢es detern)ine is necessary to enable the prep￿lon of r]llanLiai 5tai¢]nents that are free from materia] misstaiemenL whether due to fraud or In pr¢poring th¢ financial S￿ement* th¢ truAees aTe ttsw)nsible for &ssessing the clwsiy'5 abilily to continue as a going concern, disclosing, &8 applitabl< n]atter5 related u> goin8 coneetn and using the going concem basis of a¢¢ounliDg unl¢s5 the iru5tee5 either ]ft￿d w liquida￿ the Charity or to C£￿ operaiion& or have no realistic a]temative but to do 50. Auditor responsibilities for the %￿dit of the fEniDcial st•temeTrts We have been appointed as auditor utmler wtion 144 of the Charities 201 l and tep)rt in accordanc¢ with the Aci and relevani regulations made or having effecl thereunder. Our objeaives are to obtstn r￿￿nablC a55ufdnCe ab(KA wlrther the financial sts*ments as a whole STe free from material misststemenL whether dlle tts frwd or errDr. and io issue aTr auditor's report that includes our opiniot). Eica80rtable assurance is a high level of &ssurance, but Is not a gu5￿nIce tha¥ an audit cot3ducitd in ateordanc¢ with ISAS IUKI will always daett a mis5taiemenl wkn ti extrtl Misststetnents can arise frorn fraud or ￿tor and are ¢on5idtred material if, tndividually or iTr the agyegat4 they could rea%onably be expe¢t¢d to influence the ewrtotni¢ deGi5ion5 0fuser5 on the b&sis ofthese firjantial SW¢zDents. Th¢ extent tti whi¢h our pror￿Ur￿ are capable of deieeiin8 irregularities, includittg fraud i5 detailed below: 13 Lieile Parc Owles Trust llldepelldent Auditor's Report to tbc Members ofLittle Parc Owles Trust The objective5 of our aud[( arE'. - to identifv and assess the risks of Material mi&siatemeni of the financial statrm¢nts due to fraud,. - to ob￿lA sufficient appropriate audit ewidtn¢e regarding the 8ssr55ed risks ofmoterial misstatements due to frau(L ihrough de5iEning and implementing appropriate responses" and - to respond appropriatrly to frnud or suspethed frdttd identified during the audit. However. the primary resporLsibtliiy foi the prevention and detection of fI￿d rests with both those Charged with govenjante tsf the entity and its managem£t)L Ourapproach was as follow5.. W¢ ideniifjed areas of law and regulation thai could rea￿nablY bt e%pectrd to have a material effect on the financi￿ statements from our gen£rdl sectsbr expeTi¢nce, and d￿)Ugh dI￿￿Ssion with the trustees and other manage]neni las requirEd by auditing staThlard51, and disellssed with the knjsw and other management the policies and procedures re£arding Compliance ivith la￿5 and reg￿l￿10]l8.. W¢ considered the legal regulatory frarnew0￿ applicable to the fSTwJciai SL￿e[￿ttlts reponing framework {FRS 102 ¥nd the Charitie5 Act) and the relevant tax Cornplian￿ regulaiions in th¢ UK. We con5ideTed the naiure of the induwy, the control enviromnent and charity wfonnaThc< W¢ Cotnrnunicated identified laws and regllt&ions throughoul leatn and remained alert to any indi¢ation5 of non-compliance throughout the audii.. We ¢onsidered the procedures and eontrols th* the chariry has establi5htd to addTt55 risks ideniified, or that otherwise prevent. deter artd detect fraud" and how senior management v)onitOTS those programmes and ¢ontToIs. BaKd on Ihis undersiandsng we de5tgntd our audit proctdures to identify non4offtpliance with such laws and regulatiotts. Where risk was considcr¢d to be higher, PErfonned audil procedures 10 address each identified fraud risk. These procedures include.. iestinE manuxt journals- reviewÈng the finartCi82 siatetll¢nt disclosures and iesting to supportsng do¢umeniation- perfoJTniTrg analytical procedu￿ and enquiring of mana8emen( and were dest£ned to provide re&sonabl¢ assurance thai (he finart¢ial statements We￿ frEe from fraud or e￿or. Owing io the iTtherent limitaiions of an audiL there is an unavoidable risk that we may not have detected some maieriai missiaietnent5 in the financia] statements. even though we haTre properly planned and perfonned our tudit in accordance with auditing Standard& FOT exaTnple, the fvrther removeA non-u)Tnpliance wilh laws and regulations lirregulariiiesl is frotn the ¢v¢nts and transadions renttted irt the financial SLqiement% the Itss likely lh¢ inherently limited procedures required by auditing S￿ndar11S would identify it. The risk is also Ereater regarding Irrtgulariiie5 occurring due io ftaud rather than error, as fraud involves interJtiOTtal concealmenL forgery. Collusion, omission or Inis￿pr¥Se￿(at1O￿. We are ttot respo￿sIble for pwertting norb-compli2ntt al￿ cannot be ￿pected to dekct tLOn- compliance iyith all law5 and Fegulations. A further description of our resrM>nstbilitics is Y4i?ilablc on the FIn3￿claI Rew>rting Council's website at.. httpsJlwww.frc.OTWaudiLorresponsibilil%es. This des¢ription forns pan of our auditorfs report. 14 Little Parc Owles Trust Independent Auditor's Report to the Members of Little Pare Owles Trnst Other ￿arterS Your attention 15 drdwn to the the chariiy h&$ prepared financial sratements in ac£ordance with"Ac£ounting and Reporting by ChaTitie5= Ststettlent of Recommended Praciicc applicable to chariiies prepaTing their accounts in accoTdanc¢ with the Financial R¢FK>rting Stsndard applicable in thc bK aryd Republic of Ireland IFRS102)" la5 amended) in preference to ihe Account%ng and Reporting by Chariues. Stsie]J]ent of Recommende41 PrdCtitL' issued on l April 2M5 which is refefftd to in the extant regulations bui has now b¢¢n Wil￿jrawn. This has been done in order io pmide a true and fair vlew in a¢¢ordancc with CUTrent Get￿rallY Accepted Accouniing Praciic¢. U5t ofour ttport This report is made solely to the charitsble comp&ny's tn4tee& as a body, in accordance with pan 4 of ihe ChariTie5 (Accounts and Reports) Regulatson5 2(M)8. Our alldii work has Undertake￿ so that we might stste to the charity's trustees those m2tters we are WCqUiTEd to state to them in an audiior's rew)rt alld for no other purpose. To the fullest extent permitted by law, we do aecw or assume rt4*)￿Siblalry to anyone other than th¢ charity and thc Liwily's truste¢5 as a b<￿v. for our audit worl f¢)r this or for the opinioTrs we have formed. James Pear¢e (Senior St2tutorv Auditor) For and on behalf of TC Gro[￿, Statutory Auditor Vivian House Truro CoTnwall TRI 2DP Dale.. 1210312026 15 Little Parc Owles Trusl Statement of Financial Activities for the Year Ended 31 August 2024 (In£ltsding Income Expendilurt Account and Stat¢mtDt of Total Recognised Gains IA¥sses) Unrestrict¢d funds Total 2024 Note Inoomt aud Endowments from: Donations and legacies Investment income Other income 5,025.620 10.856 5.025.620 10.856 3.195 Tothl incomc 5,039.671 5,039.671 Exptnditur¢ on: Raising funds Charitable activities {14,919} 17.579 (14,9191 Total exwidiiltre 32.498 32.498 Nei income 5,007.173 5,007,173 Gains on investti]ents 740,638 740,638 Net movement in fiu 5,747.811 5.747.811 Total brought forward 31.874 Total ￿ndS carried fotward 20 5.779.685 5.779.685 The notes on pages 2￿29 fo￿ an tniegra] of these fitwi¢ia] 5tatement& 16 Little Pare Owlts Trust Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account 44d Stste￿eDt of Tolal Recognised Gaills and L055es) Unrtstri¢ted f￿ndS Total 2023 Nfrt tlleomt #Dd EDdowmettts from: Donations and legacies Investment income Oiher income 432 820 432 820 IIM) Total incorne 1.352 352 ExptDditure on: Raising futt(ts ctlaritable activilies {5.715) 27 (5,715} 27 Totsl expenditure expenditure 4,390) 4.390 Gains on invesrments t46 Net movement in funds (4.2441 14,2441 Recollciii2tioD of funds Tots] fund5 brought forward Total fun(ts carried fonvard 20 31.874 All of the tharity's activities derive from continuing op¢raion5 dwing the alx)ve two periods. The fun(b breakdown for 2023 is showi in 20. The notrs on Pa￿ 20 ￿ 29 forni art ini¢grnl part of these financial 5tatemenL% 17 Little Parc Ihvles Trust (RegtStration number. CF.022715) Balance Sheet as #t 31 August 2024 Z024 2023 l¥otr Fiied atstts Tangible assets Herita£e assets Inv£5tm¢nts 14 2,600,(XM> 169,660 2003 162 15 16 23.026 4.771822 Current assets Debtors 17 882,51K) 134 143 1.016,643 Cash at bank and in hatxl 9,628 Creditors: AnhouTrts falling d￿t M*thiD y¢*r 19 9.780) 780 Net current assets 1006,863 Net xsstts 5 779 085 31.874 Fund$ of th¢ cbarity.. Unre5tricied fimds 5.779,685 31,874 Totsl tsnd$ 5 779 685 The flE￿i(la1 statements on pag¢s 16 to 29 were approved by the try5tee5 8t￿ aUthori￿d foi Éssue 12103r2026 and signed on their behalf by= an ijbeih B ht Chaimi¥J and Truuee Miehacl Edward GaL4 The notes on pagcs 18 to 28 forn an in*gral part of thex financia] statuncnt& 18 Little Parc Trust Statement ofcasb Flows for the Year Ended 31 August 2024 2024 2023 Note Cash flow5 from optrating xtivitks Net c&sh in¢ome/lexpendiiuttl 5,747,811 {4.244) Adjustments to casb flows frojll Ktems Purchase of ian8ibl¢ fixed a55ets Purch&8e of heritsge atsets Jnvesiment income 14 15 (I,w).000) {182.460) {10:856) 745.061 2.909.434 (820) 146 (5.2101 Increase in va]ue of investhients Workirtg capital *dju5tmellts Incre￿ in debtors Incr&gse in creditors 17 19 (882S(M)I 780 Net cash flows from operating xtiviu 2.035 934 4,430 Cash flows from invt$tiNg ¥rtiv¥ties Interesi receivable and 5imilaT income Disposal of tangible fixed a&sets Purch&se of investmenty 10,856 12.8(K) 935 075 820 14 16 Net cash flows from investing activities 1911.419 820 Net incre2selldecreasel in c&sh and cash equivalents Cash and ￿sh equiva]ellts at I SepiemF*r 124.515 13,6101 Cash and cash equivalents at 31 August 134.143 9.628 All of the cash t1ows are derived from continuing Or￿lI(￿Sdttrlng the almwe iwo period The notes i>n page5 18 to 28 fomi an ￿trgnI partof these fthan¢iai statements. 19 Little Parc Owles Trust Iyotes to the Financial Statements for the Year Ended 31 August 2024 I Charity statt15 The charity is a Charitable IrKorwTrrdted (hganIsatio￿ the governing doctsment for whith is a Foundation Model Constitution. The charity's principal object Ès lo educate the public in the practite and history of the Fine and Applied Arts in Cornwall. Its principal activity is to SUPW1 projects and evenLS engag¢ audiences of all ages and backgrounds wilh the Fine and Applid Arts in Cornvdll. The address of its registered otTice is: lo CVC Solicitors Questrnap Business Patk Piniou Way Long Rock Cornwall TR20 8AS The principal place of business is: Unit 7, Plantation Store Foundry tAne Hayle Comwall TR27 4HD These financial ststernents were authorised for issue on 1210312026 2 Aceounting polities Summary of Signifi￿llt accoDDting polities aDd k¢y *e¢ounting estimates The principal a¢countiHg EX)licies applied in the preparation of these financial stalements are set out b¢low. These policies have been consistently applied kn all the years presented. unles5 otherwise ststed. St3temtnt of ttsmpli#nee The financial statements have been prepar¢d in accordance with Accouniirtg and R¢portin8 by Chariti¢s.' Statement of Recommended Practice {applicable to charities preparing their atrtouvts in accordance with the Fin￿ClaI Reporting Stsndard applicable iv the UK aTMI Republic of Ireland IFRS 102)) (issued in October 20191 (Charities SORP (FRS 102)} and the Financial Reporting Standard applicable io the UK and Republi¢ of Ireland (FRS 102). Basis of preparation Little Parc Owles TnLSt meets the defioi¢ion of a public knefii enury under FRS 102. Assets and liabilities are initially recogni5ed at historical cost or tranwtion value unle55 otherwise sthied in the relevant aecollniing poli¢y notes. The figures in these Financial Statements have been Tounded to the tt¢•r¢5t £1. 20 Little Parc Owles Trust Notes to the Financi41 SlatemeD¢s for the Year Ended 31 August 2024 Coing concern The trust￿5 consider that there are no m￿e￿la1 Lmcertainties alKJU( the charity¥ abtlity io continue as a going eonccrn nor any signifitani areas of uncertainty that affea the carrytttg value of assets held by the charity. Income tndoiv￿ellts All income is Tetognis¢d onGe the chaJKty h&s enlitlcmcnt th the incom< i¢ is probable the income will b¢ received and the amount of the income receivable can k measured reliably. Donations and legacies DonatiOll5 are recognis¢d when the charity has be￿ notified in wriiing of both th¢ amoutti and ￿ttle[ne[it date. In the event that a donation is subject io condiiions thai require & level of perfonnanre by the charity before the charity is entitled w the funds, the it*oThe 15 deferred and not recognised witil either those conditions are fully met, or ihe fuifjltnent of those conditions 15 wholly withbn the control of the charily athd li is probable that th￿¢ conditions will be fvlfilled in the Terx)rting period. Legacy gifts recognised on a rase by case basis following the gmt of pmbate when the &4ministr&orlexecuior for the e5tat¢ h05 communicatrd in ￿TIting knth the amouni and *lllement date. In the event that the gift is in th¢ form of an &8set other than tash or a fuwJcia] assct trddcd on a recogrtised stock exchange, recognition is subject to the ¥￿ue of the gift being reliably mtasurable with a degree of re&%onable actur￿y and the title to the asset having been transferred io the charity. Investment iDcoJllc Dividend5 are recognised once the dividend has de¢lwed and notification has been received of the dividend Expethditure All expenditure Is reco8nised once th¢r¢ 15 a l¢ga] or wn51wctiv¢ Oblig￿lon io that expenditure. il 15 probable seitlement is required and the aTnount can be mea5UTed reliably. All coss are all￿aled to ihe applicable expcnditure heading thai aggregate 5itnilar costs to th& c￿e80￿. Where ¢osts cal￿01 be directly attributed 10 particular headings they have been allocated on a b&8is consisLent with th¢ use ol ￿sOUrces. WÉth centrdl ststT c4)sts allocated on the b&sis of li￿e 8pez]I, and deprECtation charg¢s allOut￿ on the Frfjrtion of the asset's ￿Se. Othei support costs are allocated based on the spread of ￿atTe0st Ra£skng fllnds Th¢5¢ art CQ5ts iH¢urred in attracting volwitsry ineotD4 the mana8•Dent of KnveStm￿ts and thok incutTed in trading a¢tivili&% that raise funds. Charitable activities Charitable expenditure CtsmPTise5 Ih05e costs incu￿ed by the charity in the de]ivefy of its adivities and 5ervice5 for t5 beneficiarie& It includes FKbth costs can bt ailoc&ed din%ily io such acuviLie5 and those costs of an indireci rLa¢ur¢ n¢c¢554ry t0 511PPOrt them. 21 Little Parc Owles Trust 'otes to the Finxneial Statements for the Year Ended 31 August 2024 Grallt provi$iou$ Provisiotts for grants are made when the intention io mak¢ a grant ha5 been communicated ts) the retipieni but there l5 uncertainty aboth either the titning of the grant or the amoum of grdni payable. Support e05ts Support ￿5t$ includc centTrJ functions and have been ajlotakd 10 activity cost categorie5 on a basis Consistent with the use of resourc¢& Govrrn•Dc¢ c(tsts These include the costs attributsble TO the tharity's compli8Thce with con5tiLutional and stabjtory requirements. including audit. sirdtegic manag¢m¢nt and tru51er5 rn¢eting5 and reimbursed expenses. T4X*tÉon The charily is ¢onsideTcd to pass the tests set out tTh PaT2ysph I Schedule 6 of the Finance Act 2010 and therefore it meds the defjnition of a charitsble cofflpznj for bK corpo￿l0ft tsx purp)ses. A¢¢ordingly. the charity is potentially exempt from taxaiion in respea of income or ¢apita] gain5 rrreived within categories covtr¢d by Chapl¢T 3 Part l i of the Corpordtion Act 2010 or Section 256 of the T3xalion of Chargeable Gains Act 1992, 10 ihe extent that such income or gain5 are applied excI￿1Ve]Y ￿ charitsbk purposts. Tallg5blt fix¢d #sstts Individu￿ fjxed &ssets Ire initially recordd at any subsequent accumulated depreciation and 5ub5equent UTnul3t¢d impwnneni1055eS. H¢ritsg¢ gssets To meet th¢ Tequir¢rnents of the SORP, disclose the policy for acquisition, preservation. ma￿agement artd disposal of heTitsg¢ assets. Heritage assets are capitsiised ai cosi or mat*ei value at the date of transfer. The i'aloe of ihe httitage 2ssets is reviewed periodically and adjusthients for impaimient are made &s ne¢essary. Any h¢￿tage assets are held by the chariiy to &lvattee the culiu]t]* prEs¢rvation and education objectivcs of the charity. A list of ￿twork held 2$ heTitag¢ assets is rnaintained bv the Trus*eS. Fi%cd 455tt investmtnts Fixed asset investmcnis. othei than wogramrne related inve5tmen￿ are included at m8ykei va]ue at the balance 5heei date. Realised gains 2nd losses on investments are Calcul￿e￿ &8 the differeoce Irtween sale5 proceeds and their D)aTk¢t value at Ihe start of the y&gr. or their subse4ueni and are charged or credited ts) tht Stattmeni tsf Financial Acuviiies in the peTiod ofdisposai. Unrealised gain8 and losses re￿sent the Tnovemcnl in market value5 during the year and are Credited or eharyed to the Statement of Financial Activiiies based ort the mzJket v3]u¢ * the y¢ar end. Tr•dt d¢btor5 Trade debtots art amounls duc from cu51omers for merchandisc sold or sttvi¢es performed in the ordinary eourse of busines& 22 Littl¢ Parc Owles Trust Notes to the Finalleial Statements for the Yegr Euded 31 August 2024 Cash cash equivaknts Cash and cash equivalenis Comprise cash on hamd and call deposi￿ and other 5hort-tern) highly liquid investTnent5 that are readily COTtv¢rtible to a known amount ofcash and are subjectto an insignificant risk of change in value. TrAd¢ creditors Trade Credito￿ are obligation5 to pay for gwds or seNi¢es have been acquired in the ordinary course tsf busirte&8 from Suppliers. Accounts payablc are C1￿)rIed &8 c11r￿n1 liabiliiics if th¢ charity does not have an unconditional right. 21 the end of the reporting ￿riod, to defer 5ettlemeTht of the creditor for at lea* twelve mottth$ after the Teporting date. If ihere is an uncondiiio#ai righi io defer sett]ement for * le&%t twelve month5 after the reporting dale, they are preSL￿￿￿ 35 non-curren( liabiliiie& Fund strutture Unrestricted income funds are gen¢rai fiJnth are available for w at the tnLsrees distrttion in filltherance of the objectives ofthe charity. FiDantial Instrujntnts Clas$ifl¢ais0 Financial &sset5 and financial liabilitie5 are recogtiised when the chatity b￿0￿c5 a parry w the conrraciua] prov15ions of the ittsttument. Financia] liabilities and equity in5ENmenis are classified according to the subslance of the contracwal arrdngements entered into. An ¢4uity instnlmeni is atty contract that evidenc¢5 a rcsidua] In¢￿t itl the asseLS of the charity after deducting all of it5 liabilities. Rt¢ognition and measureth¢llt All fjnarttiai a55ffls and liabilitic5 are iniiiallv mt&sut•l & trdn5artioTr prite (including trdnsartion cost5), except for those financial assets elt8sifKed as at fair value through profi¢ or 104 M'hich are iniiially measured ai fair value (which is norma]ly the transaaion price excluding tra[￿CtiOn costs), unless the arrknEeinent constiiuies a financing transaciion. It an aTrangemeni ¢on5titui¢s a fmancing itansadion. the fJnancia] asset or tinancta] liability is measured at the pre5eni value of the future payments discounted at amarte( raie ¢)f interest fora similar debt instrumeni. Finat)cia] 8s8¢ts and liabilities arc only offset in th¢ saL¢m¢ni of financia] FK>siiion whcn, #nd only when there exists a legally tnfoTGcablt righi to sa olTthe recognised amolltt¢s and the charity intend5 either to wile on a net basis, or to reaIise th¢ a53et and settle the liability simultsneous]y. Financial assets are derecognised when and only when al the conifdctual rights to th¢ cash flows fn)tn the financial asset expire or are settled, b} the charity transfets ￿ atlother party ￿bStantiat1Y all of the risks and rewaTd5 of ownership of the flnaneiai Dr c) the charity, despite having retaintd ￿Me. but noi all. sigllificant risks and tewBrd5 of ownershkpy h45 tramsf¢rred control of the wset ￿ anoth¢r p8rty. FinanLial liabilities are dere¢ognisd only when the obligation 5pecilied to the Contract is dixhargtd, cancelled or expires. Little Parc Owles Trust Notes to the Financial Statements for the Ye¥dr Ended 31 August 2024 Investmènts Investments nDn-convenible preferen¢e thare5 and non-witsble ordinary or prefertntt 5hare5 (where shares are publicly traded or thesr fair vatue is reliably mwuthl¢l are measured ￿ fair va]ue through pyofjt or los* Where fair value cannot be measured reliably. investments are measured at cost less iTttpainn¢nL Fair vaIue measurement The besi evidence of fair value is a quoted price for an idtilliea] &gset in an active markeL When quoted prices aTe unavailable, the price of a recent trdnsactiQE] for an Identi￿ &ssei proviiles evid¢tLce of fair value tss lollg as there has not been a significani ¢hang¢ in economic circwnstsnces or a significant lapse oftirne since the irdnsadion look place. If the mark¢t 15 not actrve and recent transa¢iions of an identica] on their own are not a good estiTnate of fair Y￿u¢. the tairvalue is estimated by using a valuation ￿hniqUe. 3 Income from donations alld legatie5 UDrt5trittrd nds Gtllerxl TotAI fund5 Donation5 and legaci¢5- Donation5 from ittdividua]s Legaeies 50 5.025 570 50 5.025,570 Total for 2024 5 025,620 5 025,620 Total for 2023 432 432 4 1ttvt$tmtnt ineome Unrtstrittcd fuDd5 GenerAI Tot8J Inter¢s( receivable and slmilar incoJne' Interest receivable on bank derM)sits Other investment incomc 1,682 1.682 Total for 2024 Total fot2023 820 820 Little Parc Owles Trusl Notes to the Financial Stalements for tbe Yegr Ended 31 August 2024 5 Other inco￿¢ Unrtstri¢t¢d fund5 Ceneraj Tot#1 runds Rental in¢otne 2.595 Totsl for 2024 2,595 6 Expenditure funds Support Costs Unrestricted Dds GeDerAI Total runds Allocated support cos 14.919 Total for 2024 14.919 14,919 Totgj for 2023 5.715 5.715 7 Ex￿ndItUre th*rit¥blt activities UDrcstTiCttd funds G*ner4J Total funds Nott Grant funding of activities- ￿ld ty inskntulions Governance costs 5.890 1.689 5.890 11.689 Total for2024 Totsl foT ZOZ3 27 27 Lkttle Parc Owles Trnst Notes ¢0 Ibe Financial Statements for the Year Ended 31 August 2024 8 Anxlysis of govern*￿£¢ and 511PPiIrt t115ts Support costs Illotxt￿ to eh8rithble adivities Utttt¥trieted funds Totsl fund$ Attountancv ftt5 Secreiarial support Legaj and professional fees 882 301 13,646 882 301 13,646 Bank charges 90 Tothl for 2024 14.919 14,919 Totsl for 2017 5.715 5,715 Govtrnance tosts Unnstrscted fund5 General Totsl Audit fee5 Audit of the fTrnanctal sth(¢mettts Management fees Othei govcrnance costs 9,lJOO 249 2.440 9,000 249 Total for 2024 11,689 Total for 2023 27 27 Little Parr Owles Trust Notes to tbe Financial Statements for the Year Ended 31 August 2024 9 Net illtotttingloutgoing rtsources Net incomin￿10￿1golThgj resour¢es for theye4r tthcludc.. 2024 Audi¢ frr5 10 Truste¢s remknmerntion expel￿eS No trustees, norany persons eonnetted with them. have r¢C¢1v￿ any remuneration from the charity during the yeaT. I I Staff tturnbers The monihly average number of ￿¢son5 (includin8 wior management I leAdffship Tram) employed by the charity during th¢ year expressed full lime equiva]ents w&$ Nil. {2023 - Nil.) No ¢mploy¢¢ rtrrived emoluments of moTe than £fAI.IMX) durtng theyeax. 12 Auditors, remllntratio 2024 Audit of the fjnanciai statements 13 Tax2tioD The charity is a ttgi5teTrd rharity and i8 therefortrxemN from Little Parc Owles Trust Notes to the Flnallcial Statemen¢s for the Year Ended 31 August 2024 14 Tallgiblt fixed x55ets Investment propcriies Totsl CD5t Revaluations Addition5 7(KJ.(X)o 1,91X).(XK> 700,(IJO 1.900,1X)O At 31 Augu￿ 2024 2,6(M).( 2,600,000 Dtpreti3tion Ai 31 August 2024 Ntt book value At 31 August 2024 2.61K).(KKI 2.600.000 15 Htritage 4$5¢ts Art tollettio Total Cost AddstiQll5 DisrK>sa15 182,460 182.460 At 31 August 2024 169.660 D¢pr¢ciatio At 31 Augu￿ 2024 Net book Yalue At 31 August 2024 169.660 Summary of trans8¢ti(bJ]S 16 Fixed asset investments 2024 2023 (Aher invesunents 2.003 162 Little Parc Owles Trust Notes to Ibe Financial Statements for the Year Ended 31 August 2024 Other investmellts LR5ted investments Total C05t or Valuation At I Septem￿[ 2023 Additions Rcvaluation 23.026 .93i.075 45.061 23,026 1.935,075 45.061 Ai 31 August 2024 2 003 162 2003 162 Iyet book valu¢ At 31 Au8USL 2024 2,(K)3.162 2.IX>3 162 At 31 August 2023 23.026 17 De￿orS 2024 2023 Other Debtors 882,5 18 Cash tasb equivaleryts 2024 2023 C&th a¢ bank 134 14i 19 Creditors= f•lling dtyt witbiD yur 2024 2023 Accruals 9.780 780 20 Fund5 B¥l8nce at I Septcrnbtr 21n3 JDtomittg re50urtes Balance at 31 R¢source5 t%pended August 2024 Unrestricted funtts Gcneral 31.874 5.039,671 708.140 5.779.685 Little Pare Owles Trust Notes to the Financial Siatements for the Year Ended 31 August 2024 Balance al I Septtmber 2022 Rtsourtes e%peDdtd B21an¢e 8131 August 2023 rt$0￿rtes Unrestricted Generdl 36.118 1,352 31,874 21 A￿¥1y575 of net assets bttv4etD funds Unrvstricted Tot41 fund5 at 31 foDds August Geryeral 2024 Inv¢stsnent prO￿rtieS HeTitage as5et5 Fixed ￿tt invcstrnents Current assets Curr¢ni liabiliii&8 2,6(X>,(KK) 169.660 2,003,162 1.016.643 9.780 2,600,000 169,660 2,003,162 ,016,643 9.780 Tota] nei assets 5 779.685 5.779 685 Unrestrh¢l¢d Total funds at JI fulld5 August Gelleral 2023 Fixed asset invesunenL8 Curr¢nt assets CU￿￿￿t liabilities 23,026 9.628 780 23,026 9,628 780 Total n¢t assets 31.874 22 An4tysis of lltt fund5 At I Srptembtr 2023 At 31 Augusi 20Z4 Cash at bÈnk and tn hand Net debt Ai I Septejnber 2022 At 31 August 2023 Net debt