Company registratÉon number.. th878234
Charity registration numter. 1191340
The Otterhead Estate Trust Company Limited
(A CoM￿nY limibd by guarantee)
Annual Report and Financia Statements
for the Year Ended 31 January 2024
WESTCOTTS
CHARTEAED ACCOUNTAtIT>
& ausiNE5S ADVI$ERS

The Otterhead Estate Trust Company Limited
Contents
Referen￿ and Administraive Details
Trust￿$, Report
2to4
Independent ExamineV8 Rep)rt
Statement of Flnancia Activities
Balance Sheet
Notes to the Financial Statements
8t015

The Otterhead Eststs Trust Company Limltsd
Refarence and Admlnlstrattve Details
Mrs E B Slonex
Mr J M GcKlsmark
MrNRSGriffiths
Mr R A Dent0￿0X (resigned 15 April 2023)
Charity Regi8tratlon NuM￿r
1191340
Company Reglstratlon Number 05678234
Reglstered Office
TimWy
South Street
Axminster
EX13 SAD
Ac¢ountsnts
Westcotts
rimbedy
SoLrth Street
Axminster
Dev
EX13 SAD
Page 1

The Otterhead Estate Trust Company Limited
Trustses, Report
The trustees, vtho are directors for the pUr[￿￿eS of company law, present the annual report together
th the financial stalements of the charitable company for the year ended 31 January 2024.
Objectives and actlvltiag
Objects and alms
The charity's objects a￿".
1. To promote for the benefit of the public the Conservalion, protection and improvemenl of the
physical and natural environment and to enhance the natural beauty and amenity of the Otterhead
Estate.,
2. To advan￿ the education of the public in the conservation, protection and improvemwt of the
physical and natural environment of the Otterhead Estate and its flora and fauna.
Objectlves, strategles and actlvltles
The trustees consider that throughout the year ended 31 January 2024 the charity has undertaken
activities and progressed future projects in order to conts'nue to successfully fulfil its tharitable
0￿.ectiVes.
Public benefft
The trustees confirn that they have complied wth the requirement5 Of section 17 of the Charities A
2011 to have due regard to the public benefit guidance published by the Charity Comrnissicfi for
England and Wales.
Achlevements and performance
In 2023 work continued to focus on the Installattons for the Hydro project including the turbine,
balancing tank, pipw)rk and the rank of batteries. This all took longer than anticipat8J diie to the
original contractorfs ill health necessitating appointing a new company. Electricity Nfds finally
on-stream in April 2024. Forest School use the Coach House then *re able to swlch off their
noisy diesel generator. This preiect fully funded by grants & donations.
Funding from FIPL (Farming In Protected Landscapesl gave a generous grant for the total cost of
resurfacing the path be￿een the lakes, including Iwo new small bridges. Vvessex Water, our
landlords, gave a substantial donation for the instsllation of a third bigger pedestrian bridge over the
Riv¥ Otter to complete the project.
We also obtained two equal grants from Nineveh Trust and Wessex Water vthich fund￿ 5 new
Information Boards around the gte to repla￿ rotten Or￿S.
Monthly w)rk parties. organised by a trustee, continued to control vegetation.
Taunton Midweek Conservation Volunteers Continued with c￿caSiOnal visits.
Neroche Volunteers also came then available.
We held a coffee moming, a sno￿tIr0p walk, and one or other trustee often showed visitors around
the site, and met with contractors vthen needed.
The Trustees sv)uld like lo thank the generosity land patience) of all grant funders and other donors
that have contributed during the year. Also all those have worked on, and facilitated. grant
applications.
Page 2

The Otterhead Estate Trust Company Limited
Trustees. Report
Flnanclal revlew
Dunng the year the charity we1V￿ income totalling £90,274 (£87,636 restncled and £2,638
unrestricted) and exFenditure of £13,988 {£- restricted and £13,988 un￿$t￿￿ed). As at 31 January
2024, the charitable company restricted funds of £684 and unre$tri¢ted funds of £86,761.
Polleyon reserves
It 1$ the Charity's ambition to hold reserves that allow the charity to fulfil Ixsth its short-term operational
Obl￿tIveS and al30 longer-temi strategic objectives Although the Charity is not currently in a position
where it can stale il holds sufficient reseNes to meet all of its aTrbitions, the trustees have conts'nued
lo make progress in the last 12 months and consider the charity's financial position to be SLrfficient to
meet liabilities as they may fdl due over the coming 12 months.
Plans forfuture perlod8
Alms and key objectives forfutureperlods
In order to deliver the aims and objectives of the charity. a sustainable and managed appn)ach to
fundraising is required in future. The charity aims lo cover its running costs and to include within the
costs the employment of a part-time estate warden and contractors engaged to carry out essential
maintenance of the Otterhead estate Stte. There are also future aspirations of restoring the walled
garden, paths and bridges, cataloguing Rhodc*Jendrons and vK)rk to protect other heritage plant
species.
Structurgi govgrnanco and managem•nt
Nature of govemlng docunRnt
The charity is a company lirnrted by guarantee. The charitable company is governed by its
Memorandum and Articles of A5￿￿lation incorporated in 17 January 20C6, as amended by speclal
resolution registered at Companies House on 22 August 2020. The Charity Commission awarded
charitable status on 17 September 2020.
Récrummènt and appointment of trust•os
The t*)ard of trustees, which meet at least quarterly, is responsble for the Charity. Trustees are
appointed in accordance wth the charity's articles of association. New trustees are appointed, when
necessary, in order for the board to have the broad range of kno¥￿edge and skills necessary to
administer the charity effectively.
Inductlon and tralning of trnstees
New trustees are provid&1 wth key documents, training and induction by existing trust￿.
Statement of trnstees. responsibilities
The trustees (who are also the directors of The Otterhead Estate Trust Company Limited for the
purposes of company lawl are responsible for preparing the trustees, report and the financial
statements in accordance with applicable law and United Kingdorn Accounting Standards (United
Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared
in accordance with the provisions in the Companies Act 2006 relating to small companies.
Page 3

The Ottorhead Estate Trust Company Limitsd
Trustse8' Report
Company law requires the trustees to prepare financial ststements for each finanaal year. Under
company law the trustees must not approve the financial staternents unless they are satisfied that
they give a true and fair view of the stale of affairs of the charitable company and of the incoming
resou[￿S and application of resources, including its income and expenditure, of the charitable
company forthat pericd. In preparing these financial Statements. the trustees are required to."
select suitable accounting policies and apply them consistenlly.,
¢)b$erve the methods and principles in the Charities SORP..
make judgements and estimates that are reasonable and prudent:
stale thether applicable accounting standards, ¢ompris(ng FRS 102 have been foll0v￿d, subject
to any material departures disclosed and explained in the financial statements,. and
prepare the financial statements on the g¢ing concem bas's unless it is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping prO￿r accounting records that can disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also reswnsible for
safeguarding the assets of the charitsble company and hence for taking reasonable steps for the
Preventi¢￿ and detection of fraud and other irregularities.
The trustees are ￿spOnSible for the Maintenan￿ and integrity of the cotwrate and financial
infi)rmation included on the charitable company's website. Legislation govemiro the P￿paratIOn and
dis*mination of tinancial statement5 may differ from legi51alion in olherjurisdictions.
Small companle8 provlslon statement
This report has been prepared in accordance ￿th the small companies regime under the Companies
Act 201￿.
The annu21 ￿port was approved by the trustees of the charity on
behalf by..
and signed on its
Mrs E B Stonex
Trustee
Page 4

The Otterhoad Estate Trust Company Limited
Independent Examiner's Report to the trustee8 of The Otterhead Estate Trust
Company Limitsd ('the Company.)
I report lo the charity trustees on my examinaticn of the a¢¢ounls of the Company for the year ended
31 January 2024.
ResponslbllitieB and basis of report
As the charity's trustees of the Company land also its directors for the purposes of Company law) you
are responsible for the preparation of the a¢¢ounts in accordance with the requirements of the
Companies Act 20C6 {'the 2006 ACYI.
Having satssfied mysdf that the accounts of the Company are not reqUI￿d to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 A¢t').
In carrying out my examination I have follovEd the Directions given by the Charity Commission under
section 145(5llbl of the 2011 Act
Indgpendent examIne￿$ statement
I have completed my examination. l ¢onfirm that no matters have come to my attenlion in connection
th the examination givirKd me cause to believe..
1. accounting records were not kept in respect of Thg Ollerhead Estate Trust Company ￿MIt￿ as
required by section 386 of the 2006 Act., or
2. the accounts do not accord with tho* records; or
3. the accounts do not eompty wth the accounting requirements of section 3* of the 2006 Act
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", or
4. the acwunts have not been prepared in accordance with the methods and principles of the
statement of Recommend8J Practi￿ for accountin9 and reporting by charities lapplicoble to
charities preparing their accounts in accordance wlh the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)].
I have no concems and have come across no other matters in Connection with the examination to
sthich allenlion should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Thomas John si&ckey FCCA
Westcotts (SW) LLP
Timbet1y
South Street
Axminsler
EX13 SAD
Page 5

The Otterhead Estats Trust Company Limited
Statement of Financial Activities for the Y•ar Ended 31 January 2024
Ilncluding Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Totsl
2024
Total
2023
Note
In¢ome and Endowments from:
Donations and legacies
Other income
1,638
1,000
87,636
89,274
1,0()J
7,078
1,000
Total income
2,638
87 636
90,274
8,078
Expenditureon:
Charitable activities
13,988)
13,988
11,197
Total expenditure
113,988)
113,988
(11,197
Net lexpenditureYin¢cffie
Transfers bet￿ten funds
111,350)
95,274
87,636
95,2741
76,286
{3,119}
Net movement in funds
83,924
(7,6381
76,286
{3,1191
Reconciliation of funds
Total funds brought forward
2.837
8,322
11,159
87,445
14.278
Total funds carried forvrard 12
8e,761
11.159
All of the charity's activities derive from C￿tInUIng operatl¢fis durfng the above kn periods.
The funds breakdo￿ for 2023 is shwn in note 12.
The notes on pages 8 10 15 fom an integral part of these financial statements.
Page 6

The Otterhead Estate Trust Company Limited
(Registration number: 05678234)
Balance Sheet as at 31 January 2024
2024
2023
Not¢
Fixed assets
Tangible assets
85,369
Current assets
Debtors
Cash at bank and in hand
180
2.756
10
11,739
11,739
2.936
Creditors: Amounts falllng due wlthln ono yoar
Net current assets
{8601
{5801
2.076
Net assets
87.445
11,159
Funds ofth• Charity:
Restrlctod income funds
Restricted funds
8,322
Unrestri¢ted Incorne funds
Unrestricted funds
86,761
2,837
Total funds
12
87,445
11,159
For the financial year ending 31 January 2024 the charity was entitled to exemption frcm audit under
section 477 of the Companies Act 20C6 relating to small companies.
Dire¢lors' ￿s￿onsibl11tieS'.
The members have not required the charity to obtain an audit of Its accounts for the year in
question in accordan￿ with section 476,. and
The directors aCknO￿edge their responsibilities for complying with the requirements of the Act wth
respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance wth the special yovisions relatlng to
mpanies Subl￿t to the small companies regime within Part 15 of the Companies Act 2006.
The fi
ancial slalements on pages 6 to 15 were approved by the trustees, and aLrthorised for issue on
and signed on their behaN by-.
JMGods
rustee
The notes on pages 8 to 15 fomi an integral part of these financial statements.
Page 7

The Otterhead Eststs Trust Company Limitsd
Notes to the Financial Statements for tho Year Ended 31 January 2024
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards
the assets of Ihe charity in the event of liquidation.
The address of its registe￿ office is..
Timberfy
SoLrth Street
Axminster
Devon
EX13 SAD
2 Ac¢ounting policles
Summary of slgnlfleant accounling pollclo9 and key accountlng estimatss
The principal accounting policies applied in the preparation of these financh4 statements are set out
bel¢)w. These policies have been consistently applied to all the years presented, unless othewse
Staled.
statement of compliance
The financial statements have been prepared in accordan￿ with Accounlir@ and Reporting by
Charities.. Statement of Recommended Practits lapplicable lo charities preparing their accounts in
accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102)) li&8ued in October 20191- (Charities SORP {FRS 102)}. the Financial Reporting Standard
applicable in the UK 2nd Republic of Ireland IFRS 102} and the Companies Act 20C6.
Basls of preparatlon
The Otterhead Estate Trust Company Limited meet5 the definition of a publlc benefit entty under FRS
102. A￿ets and liabilities are initially re¢ognised at historical cost or transaction value unless
othefwse stated in the relevant accounting policy notes.
Golng concern
The trustees con&der that there are no material uncertainties about the charity's ability lo conts'nue as
a going concem nor any significant areas of uncertainty that af1￿t the carrying value of assets held by
the charity.
Summary of disclosure exemptions
These financial statements have been prepared in accordan￿ wth the provisons appficable to
companies entitled to the small companies, exemption.
Judgements
The preparation of the financial statements requires management to make jud9ements, estimates and
assumptions that aff&t the amounts reported. These estimates and judgements are continually
revie￿ed and are based on experience and other factors, includiNJ exp&tslions of future events that
are believ8J lo be reasonable under the circumstances.
Page 8

The Otterhead Estate Trust Company Limitsd
Notss to the FSnancial Ststsmonts for the Year Ended 31 January 2024
Income and endowments
Donatlonsand lega¢los
Donations are recognised ￿en the charity has keen notified in writing of toth the amount and
settlement date. In the event that a donation is subject lo conditions that require a level of
rf0mlan￿ by the charity before the charity is entitled lo the funds, the income is deferred and not
recognised unbl either those conditions are fully met or the fulfilment of those conditions is wholly
thin the control of the charity and it is probable that these conditions wtll te fulfilled in the reporting
period.
Grnnts m¢oivablo
Grants are recognised when the charity has an entitlement lo the funds and any ￿ndItionS linked to
the grants have been met. Where perf0mlan￿ conditions are attached to the grant and are yet to
mel, the income is recognised as a liability and included on the balance Sheet as deferred income to
be released.
All incomiro resources are included in the statement of financial activities then entitlement has
passed lo the charity., it is probable that the economic benefits associates wth the transactions will
flow to the Charity and the amount can be reliably measured. The followng specific policies are
applied to particular categories of income=
income from donations or grants is recognised ￿en there is eviden￿ of entitlement to the gifL
receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is establish￿1.
income from donat&J goods is measured at the fair value of the goods unless this is impractical to
measure reliably measured. No amounts are included for contribution of general volunteer&
income from contracts for the supply of services is recognised with delivery ol the contracted
servi￿. This is classified as un￿tricted funds unless there is a contractual requirement for it to be
spent on a particular purpose and returned if unspent. in which case il may be regarded as restricted.
Expenditure
All expenditure is recognised once there is a legal or constructive obligaticn 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 lo that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consistent wth the
use cf reSoUr￿s, wth ￿ntral staff costs allocated on the basis of time spent, and depreciation
harges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and seN1￿$ for its beneficiarie&11 includes ￿1￿ costs that can be dlocated dI￿¢￿Y to such activities
and those cost5 of an indirect nature necessary to support them.
Page 9

The Otterhead Estste Trust Company Limited
Notss to the Financial Statements for the Year Ended 31 January 2024
Expenditure is recognised on an accrual basis as a liability is i[￿urred. Expenditure includes any VAT
ich cannot be fully recovered, and is classified under headings of the statement of financial
activib'es to ￿lch it relates:
expenditure on raising funds includes the cost of all fundraising activit￿S, event4 non-charitable
trading aclivilies, and the sale of donated gojds.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities
that further its charitable aims for the benefit of ils ￿neficianes, includiro Ihose support costs and
costs fflating to the govemance of the charity apporti¢ned to charitable activities.
other expenditure includes all expenditu￿ that is neither related lo raising funds for the charity nor
part of its expenditure on Charitable activities.
All costs a￿ allocated to expenditure categories reflecliro the use of the resour¢e. Direct costs
attributable to a single ￿tIvIty are allocated directly to that activity. Shared costs are apFKsrtioned
befften the activits.es they contribute to on a reasonable. justifiable and consistent basis.
Government grants
Government grants are reccgnised based on ihe accrual model and are measured at the fair value of
the asset received or receivable. Grants are classifi￿1 as relating either to reven￿ or to assets.
Grants relating to revenue are recognised in income over the period in thich the related ¢0sls are
recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where
part of a grant relattng lo an asset is deferred, it is recognised as deferred income.
Tanglble fixed assets
Tangible assets are initsalty ￿Corded at cost, and subsequenily stated at ¢osl less any accumulate
depreciation and Impalm￿nt losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent axumulaled depreciation aThJ
subsequent accumulated impaiment losses.
An increased in the Carrying amount of an asset as a result of a revalualim, is rectyJnised in other
reccgnised gains and losses, unless it reverses a charge for impaimient that has previoudy ￿en
recognised as expenditure wthift the statement of financial activities. A decrease in the ¢arrying
arnounl if an asset as a result of revaluation, is recognised in other recognised gains and losses.
except to which it offsets any previous revaluation gain. in which case the loss is shovm within other
reccgnised gains and losses on the statement of financial activities.
Depreclallon and amortlsation
Oepreciation is calculated so as to ￿te off the Cost or valuation of an asset, less its r￿dUal value,
over the useful economic life of that asset as follows..
Asset class
Pl8nt2nd machinery
Property improvements
Fixtures and fittir¥Js
Depreclalion method and rate
20QA straight line
straight line
20Qh straight line
Cash and cash equivalents
Cash and Cash equivalents comprise cash on hand and call deposits, and other short-lerm highly
liquid investments that are readily convertit4e to a knovm amount of cash and are subject to an
insignificant risk of change in value.
Page 10

The Otterhead Estatg Trust Company Limited
Notss to the Financial Ststements for the Year Ended 31 January 2024
Fund structure
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's
purpo*s.
Designat￿ funds are unrestricted funds earmarked by the trustees far particular future project or
¢ommitmenL
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the lemis of an appeal. and fall into one of the subclasses.. re5triGted income funds or end0￿￿ent
funds.
Financial Instrnments
Classification
Financial assets and financial liabilities are reccgnised vthen the charity becomes a party to the
contractual provisions of the instrument
Financial liabilities and equity instruments are classifi&J according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual Inte￿St in
the assets of the chanty after deducting all of its liabilities.
3 Incorne from donatlons and1oga¢ioS
Unr8strictgd
funds
Gonoral
Ro5tricted
fund8
Totsl
2024
Donatlons
Donation$
Grants
Grants
1,638
10,000
11,638
77,636
77.636
1,638
87,636
89.274
Unrestrlcted
funds
General
Restrlct¢d
funds
Total
2023
Donatlon8
Donations
Grants
Grants
478
478
3,600
4,078
6,600
7.078
Page11

The Otterhead Estate Trust Company Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
4 Other Income
Unrestrfcted
funds
G•neral
Total
2024
Total
2023
Other income
1,000
1,000
5 Expenditure on charltsble actlviti98
Unrestricted
fund8
General
Total
2024
Note
Charitable activities
Support costs
13.126
862
13,126
13,988
13,988
Unrestricted
funds
Gonoral
Rostrictsd
fund8
Total
2023
Charitable acts'vities
SupFKrt costs
3,622
580
6,995
10.617
580
4,202
6,995
11,197
6 Tru8tee8 remuneration and expenses
No trustees, nor any persons connected wth them, have ￿￿1Ved any remuneration frcfft the charity
during the year (2023-. Nil)-
No tru5tee5 have re￿1V&￿ any relmbursed exFenge$ from the charity during the year.
7 Slaff costs
The monthly average number of ￿rsOnS (including senior management I leadership team) employed
by the charity during the year expressed as full time equivalents was as follows..
2024
2023
No
Average headcount of employees
No employee received emoluments of more than £60,000 during the year {2023.' Nil).
Page 12

The Otterhead Estste Trust Company Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
8 Tangiblo fixed assets
Land and Flxtures and
bulldings
Flttings
Plant and
machinery
Total
Cost
Al 1 FebrLtary 2023
Additions
1,375
5.256
1,375
,5(Kg
81,696
9,548
At 31 January 2024
81,696
6,631
9,548
97,875
Depreciation
At 1 February 2023
Charge for the year
At 31 January 2024
Not book value
1,375
1,051
1.375
11,131
8.170
1.910
8,170
2.426
1.910
12,5CE
At 31 January 2024
73.526
4,205
7,638
85,369
At 31 January 2023
Included wthin the net bjok value of land and buildings above is £Nil (2023 - £Nil) in respect of
freehold land and buildings and £73,52612023 - £Nill in respect of leaseholds.
9 Debtors
2024
Other debtors
180
10 Cash and cash gqulvalents
2024
2023
Cash on hartrd
Cash at bank
11
2,745
11
11.728
2,758
11.739
11 Crvditor5: amounts falling due within one year
2024
2023
Accruals
860
580
Paje 13

The Otterhead Estats Trust Company Limited
Notes to the Financial Statements for the Year Endad 31 January 2024
12 Fund8
Balance at
Balance at
31
January
2024
February
2023
Incomlng Resources
rasources
expend
Transfers
Unrestricted fund8
General
General Funds
2,837
2,638
113,9881
95,274
86,761
Restrlctsd funds
Hydro prqect
Pathways, bridges and
estate infrastructure
Interpretation
18.3221
82,180
5.456
181,696)
200
8,322
87,636
195,2741
Total funds
11,159
90,274
13,988
87,445
Balan¢0 at 1
February
2022
Balance at
31 January
2023
Incomlng
resources
Resour¢¢s
expended
Unrestricted funds
General
General Funds
5,078
14,2021
2,837
Rostricted funds
Hydro project
12,317
3,000
6,995
8,322
T¢)tsl funds
14,278
11,197
11,159
The specific purposes fcr which the funds are to be apFlied are as foll¢Jws:
Hydro project- The project relates to the installalion of a hydro turbine and associated balancing tsnk,
pipe￿rk and b*leries.
Pathways, bridges and estate infrastructure - Funded by 'Farming in Protected Landscapes, and
Wessex Wat¥, this project includes the construction of pathways and bridges wilhin the Otterhead
Estate.
Interpretation
Funded by Nineveh Trust and Wessex Water, this project installed five new
infomiation boards providing interpretation to visitor&
Page 14

Th• Otterhead Estate Trust Company Limited
Notss to the Financial Statements for the Year Ended 31 January 2024
During Ihe year. three restricted projects took place, resulting in the capitalisalion of fixed assets. By
the nature of the restricted grants, the trustees consider the conditions placed on those grants to have
IRen fulfilled completely during the year. To ￿e¢t this a¢￿UntIng trealmen[ transfers are sh
wrthin the accounts indicatiNJ the liftiryJ of the restnctions for those fixed assets purchased.
13 Analysis of net assets betW00n funds
Total funds
at31
January
2024
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
85,369
2,252
18601
86,761
85,369
2,936
1860)
87,445
Totsl nel assets
Totsl funds
at31
January
2023
Unrestri¢tod
funds
Goneral
Rostricted
funds
Current assets
Current liabilities
3,417
15801
2.837
8,322
11,739
15801
Total net assets
8,322
11.159
14 Relalod party transacllons
During the year £8,904 was paid to a company owned by trustee for project management servi¢e*
The trustees took necessary steps to mitigate the risks of a conflict of interest and the trustee in
question took no part in the decision-making process to engage the services of the business (2023..
£2,902).
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