Reglstered number: 13004093 Charity number: 1193269 FNZ FOUNDATION IA company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 111 *ACHXEiKII 0811212023 COMPANIES HOUSÉ
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FNZ FOUNDATION IA company limlted by guarnntee) CONTENTS Page R•f•rencg and adminlstratlve details of th• Company. Its Tnmbtees and advisers Twst$. report Ststsment of flnan¢i•l a¢tivhles B414n¢e $heet Not•s to the flnancial slat•m•nts 9-17
FNZ FOUNDATION (A ¢(xnpany limit•d by gu•r•nt••) REFERENCE AND ADMINISTrATIVE DETAILS OF THE COMPANY, rrs TrUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2022 Trustees V Sharif. Chair B Richards¢)n. Trustee G De Battista. Trustee {resigned 30 November 2022) C P Wamer. Trustee Company rrylstered number 13004093 Charity rgglstorod number 1193269 R•gist•r•d offic• 67 Lombard Street London EC3V 9AJ Accountants Donald ReMJ Limrted Chartered Aecounlants 18a120 King Street Maidenhead Berkshire SLS 1DT Solicitors Addle5haw Goddartl mIn Gate 60 Chiswell Street London EC1Y4AG Page 1
FNZ FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 The Trustees present their annual report together wilh the firn¢la1 statements of the Company foi the year 1 December 2021 to 30 November 2022. The Annual report $erves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confim that the Annual report and financial statements of the ¢haritable company compty wlh the Cu[nI stutory requirements. the regulments of the Charitable ¢ompanl$ governing document and the provisions of the Ststement of Recommended Practice ISORP) applicable to charities preparing their acccyjnts in accordance with the Finanual Reporb'ng Standard appticable in the UK and Republic of Ireland IFRS102) leffectrrfe 1 January 2019}. Since the C¢)mpany quaI[F as snwll under section 382 of the Companies Act 2006, the Strategi¢ report required of medium and large cOMpanS under the CoMpanS Acl 2006 {Strate9ic Report and Directors, Report) RegulatnS 2013 has been onwtted. ObJ¢¢tlves and actlvhle8 . Pomcles and obJgcli¥es The Chantys objects remain as follows: (il To preserve and protect the health, and womote the education of, the underprivileged in society., (ill To promote for the benefft of the pubh'c the consorvation protect1 improvernent of the physical and natural environment- and (iii) The promotion of such other purposes as shall be charitable w) ts)rdance with the law of England and Wales. b. Strat•gi•s for a¢hi•vlng obJectlv•s The Foundab'on has three components to its strategy for achieving its aims. The first is to lake a strale9lC approach to sdcting hvJh4mpa¢t partnerships wth organisations who deliver on the chantys objectives. Secondty, the intention for FNZ Group to consolJate charrtable giving through the Foundation alyns with the values of both organisations. Finly. eNJagirKJ empknyees n chwrtable gmng to amplfy the mission and objects of the Foundation is planned. c. A¢tivitsM und•rt•ken to achleve obiKlives The Foundation's activities remained focused on three main areas of developff*nt. The first. lo evaluate and put in place strategic partnerships 1h charrties aligned wrth its mission. ab)ngsKle maintaining an appropriate allocation of grants for smaller. local, ¢ommunty4ed intliatives and for tho matching of FNZ Group employe• charitable raising donations. Progress Continues to move fOrard on a programme of aCti¥S intended to engage empbyees in ¢harrtable giving through the engagement of regional stakeholders arKI the devebpmenl of a core strategy for implementstion. d. Social investment polici•s For the period lo date, given the nature of the Foundatson grant making activities, a social investment policy was drafted and is undergoing a review process wth a view to implementation. This pdicy will be reviewed annually. Page 2
FNZ FOUNDATION IA ¢¢Jmpany Ilrnlted by guarant¢¢) TRUSTEES. REPORT (COKllNUED) FOR ThE YEAR ENDED 30 NOVEMBER 2022 ObJ•etlv•s and actlvltles {¢onlinu¢dl e. Grant4naking poli¢les We take an approach whereby we carefulty select organisations with whom we partner lo ensure that we do the very best we can. through long4emi patherships. in the areas where we make grants. Seeordly, following a due diligence Pfo¢es$, the Foundation made its first grant in line wrth lis Strateg ebiectNes to The Nature Conserrfancy {'TNC') specificalty to support their work on carbon markets and scaling nature-based dimale solutions. TNC'S mission is to conserve the lands and waters on whh all lrfe depends, in line with the FNZ Foundation's objects. There is a strong alvJnment betrween The Nature Conservanty and FNZ'S Foundation's objectives.. conservakn'on of natural pital and inclusion of bxal comrnunrtj.es in the devebpment of sustsinable livelihoods m¢xlel$. The proprt is an innovatNe 'incubatof' approach for forest carbon projects whi¢h Can then go on to sell carl)on uedits and becoff self-SUStaining. The Foundation also provided a donth.on to UK Charity We Help Ukranians, an organisation dedicated to supporting and empowering indr¥iduals and communiti.es in Ukraine. The ongoing challenge$ fa¢ed by Ukrainians. ranging from erJ)nomic hardships to geowlitical uncertaintss, necessitate a concerted effort to provide assistance and foster sUstairb1e deveh)pment. The grant supported key benefits at a crikncal time for Ukraine induding humanrtarian aKI, emergenw rel. arKI immedote assK%tan¢e provided to those affected by confflict, ensuring and effective relief for vulnerabk populations. f. Voluntser No remuneration is provided to any personnd assooated the Foundation with the exception of professional seryices fees to service provider5 and advisor5. for exampk al and accounting services. All personnel contn.bule ts.me on a voluntary basis. . Main activitles undertaken to furth•r the Company purp09•8 for the pub&c benefit Achievements and performanc• . Main a¢hievem•nts of th• Company This was the second period in the FNZ FoundatK•n's establishffnt and the disbursement ol TNC grant wa$ the central achievement. b. R¢vi¢w of acllviligs The main grant disbursed in to TNC used to bolster their efforts in carbon markets and the expansion of N*ural Climate Solubons INCS). Carbon markets operate on a pay-for-perfomiance model, predominanlEy driven ty communty-led behavioural changes that weld climate impact through emissn$ reductions or removal. TNC'S initsatives invofve communities attering land management practices, committing to forest or mangrove proleclion and restoration plans. incurring associated costs. yet reap1 benefits such as enhanced environmental health. productive soils. arKI mitsgated fkjoding and erosK)n. . Fundralslng actlvltles and •nc<Kne gen•ratlon During the period. principal fLXXS was given to consKlerations and ffiagement of the grants deployed. Pa98 3
FNZ FOUNDATION {A company limited by guarnntee) TRUSTEES. REPORT (coMfiNUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Achlevoments and perform•nu (¢ontinu•dl d. Inv•slment polky and perfornMnc¢ Principles of our investment approach centre on our oblall0n to secure the best financial retum, within the appropriate level of TisK to be spent on the chartys aims os set out in our otyects. Material investment deusions are supported through takin9 indeperKlent advice and legal guidan where necessary, selecting investments appropriately in this context arKI docunnting and communKating deci%n9 Financial rnvlew . Going ¢on¢•rn After making appropriate enquiries, the Trustees have a reasonable expectatson that the Company has adequate resour¢es to Continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concem basis in preparing the finanual statements. Further detaiLs regarding the adopts'on of the goin9 oncem basis can be found in Ihe a¢counts"ng polKies. b. Reserveg polky For the peric¥l to date. gNen the nature of the Foundati grant makng xtivities, a reseNes polry has been drafted for approval and implementation. This tK)licy will be revithved annually. . Mat•rial inv•stm•nts policy In line with our approach to investments. material investment decisions are supported through taking independent advice and legal guidance where necessary, selecttng investments appropriatety in this context and documenting and communicating d¢o'sions. Charity comm10n Guidan¢e CC-14 provides a basi$ for this appmach. Structur•. gov•m•n¢¢ and manag•m•nt a. ConstitIon FNZ Foundation is registered as a chartsbl¢ ¢¢mpany h'mrted ty guarantee and was set up by a Trust deed. b. Methods of appolntment or ehctlon of Tnt The management of the Company is responsts.lty of tho Trustees l)o are elected and Coaoptsd under th8 temis of th8 Trust deed. c. Fin•n¢ial risk management The Trustees have assessed the major risks to whKh the Company is exposed, in particular those related to the operations and finances of Ihe Cornpany. and are satisfied that systems and prrtsdures are in pl b mits'gate exposure to the major nsks. Pa98 4
FNZ FOUNDATION IA eompany limlted by 9uaranto0) TRUSTEES. REPORT (CONTINUED) FOR The YEAR ENDED 30 NOVEMBER 2022 M•mb•r8' Ilablllty The Members of the Company guarantee to ¢ontribJte an amount not ex¢08ding £1 to the assets of the Company in the event ofwinding up. Slatsm•nt of Tru$t•es' r•sponslbllftles The Trustees (who are also the dire¢tots of the Company for the purposes of company law} a Sponsibbe for preparing the Truslee$' report and the financial Statents in a¢cordano with applicable Law and United Kingdom A¢counting Standards {United ngdorn Genernlty A¢eepled Accounting Practice). Company Law requires the Tfustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial slatemtrnts unless they are $ab'sfied that they give a true and fair view of the State of affairs of the Company and of its in¢oming resour¢es and application of resources. including ts income and expendrture. for that In preparin9 these financial statements. Ihe Trustees are required to.. select suitable accounting policies and then apply them consistenty.. ob$oNe the methods and principles ofthe Chanbes SORP {FRS 102),. make judgments and accounting eskn'mates that are reasonable and prudent., state whether ap[Alcab UK A¢¢ounting Stsndards (FRS 102) have been followed, subJ'e¢t to any material departures disc)sed arKI explained in the financ1 sLqtements", prepare the finanual stateffEnts on the gtyng ccrflcem basis unless rt is inappropriate to presume that the Company w1 ¢onb"nue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the CoMpanS Iransacttons and disclose with reasonable accuracy at any time the financial posib'on of the Company and enable them to ensure that the ffinancial 5tsteThnts compty with the COmpanS Act 2006. They are also responsible for safeguarding the assets of the Company and hence for tskn'ng reasonable steps for tho preventKn and detection of fraud arKI other irregularthes. Approved by order of the members of the board of Trustees on 30 November 2023 and signed on their bohaw V Sharif (Chair of Trustees) Rlchardson ITntstee) Page 5
FNZ FOUNDATION (A company Ilnthd by guarant••) STATEMENT OF FINANCIAL ACTMllES {INCORPORATING INCOME AND EXPENDITURE ACCOUN FOR ThE YEAR ENDED 30 NOVEMBER 2022 Total funds 2022 Total fvnds 2021 fund• 2022 Income from: Donations and legacies Investments 1,025.000 420 420 T¢>lal in¢om• 420 420 1,025,000 Expenditure on: Charitable activfoes 34,9 Total expendlture 34.9 Net 1expendilur•ln¢orn• b•for• Mt galns on investmonts Net gains on investff£nts 1508,626) ($08,626) 990.491 499,691 Nel movement in lund8 (508.626) 1508.626 1,490,182 RKonclllatlon of funds: Toial funds brought fop*ard Net movement in funds 1N90.182 (508.626) 1N90,182 {508.626 1,490.f82 Total funds carried forward 981,556 981,556 1,490.182 Tho Statement of Fin¥Kial A¢bwbes indudes all gains and ktsses recognised in Ihe year. The notes on pw 9 to 17 lo part of these finarKial ststements. Page 6
FNZ FOUNDATION (A comTrY limit•d by guarant••) REGISTERED NUMBEIL. 13004093 BALANCE SHEET AS AT 30 NOVEMBER 2022 2022 2021 Fix•d asvts Investr*nts 500.000 Current assets Debtors Cash at bank and in harKI 10 278 992,604 986.345 992.882 Creditors.. amounts falling due withui one year 11 1504.7891 (2.700) N•t currnnt assets 481,5S6 990. 182 Total •s$•ts I$ curr¢nt Ilabllllles 981.656 1.490. 182 Net assets oxcluding pension ass•t 981,556 1,490. 182 Total n•t •wts 981.556 1,490.182 Charlty lunds Restricted fvnds Unrestricted funds 12 12 981.556 1,490.182 Total funds 9J1,556 1.490. 182 Pag8 7
FNZ FOUNDATION (A company limited by guarant••) REGISTERED NUMBER: 13001093 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2022 The Company wa$ entilled to exemptK>n from audit under section 477 of Ihe Companies Act 2006. The members have not required the Company to obtain an audrfé for the year in question in accordance wilh section 476 of Companw Act 2006. The Trustees acknowledge their responsibilths for CY)mp.n9 the requirements of the Act wilh respect to accounting records and preparation of finan(xal Statents. The financial statements have been prepared in a¢fA)rdance with the provisions applicable to enlilies $ubje¢t to Ihe small companies regime. The financial statements V•we approved and authorised ftK issuo ty the Trusteos on 30 Novernber 2023 and signed on their behalf ty. V Sharlf (Chair of TNslees) B RICrdSOn (Trustee} The notes on pages 9 to 17 fonn part of these final statemeni& Page 8
FNZ FOUNDATION (A company Ilmlted ty guarnntee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 General inlorm•tlon FNZ Foundation 1$ a prr company by gu¥antee. The compary was incorp(Kated in the United Kingdom and is registered in England & Wales. The registratK)n number is 13004093. The registered t)ffice athlress is 67 Lombard Street. Lonth)n. United 'ngdom. EC3V 9KI. Ac¢ountlng polki•s 2.1 Bas1$ ol pr¢paration of flMn¢l•l ststemonts The financial statetrnnts have been prepared in accordance with the Charities SORP {FRS 102) - Accounting and Reporting by Chariti'es.. Statement of Recommended Practice applicable to charities prepanng thw'r accounts in awdan¢e with the Financrdl Repon9 Standard applicab in the UK and Republic of Irdand IFRS 1021 (effective 1 January 2019), the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1Q21 and the Companies Act 2006. FNZ Foundatson meets the definilion of a public benefft entity under FRS 102. Assets and liabilities are initialty recognised at histOriC81 cost or transacb.on value unless othemise stated in the relevant accounts'ng policy. 2.2 Incom• All incorne is reco9nised once the Company has entitlernent to the income. tt is probable that the income will be recerrfed and the amount of income recervable ¢an be measured reliabty. Grants are incknded in the Statement of finanaal acbvitjes on a rl¥able basis. The balance of incorne received for specific purposes but not expended during the period is shown in the relevant fvnd$ on the Bakn¢e sheet Where income is rei¥¢a in advaneA of entrtlement of re¢eipt. rts re¢ognition 1$ ¢Jeférred and induded in credrtors as deferred i10Me. Where entTtbment occu before income is received. the rs acCftd. 2a Exp•ndltyrn Expenditure ts recognised once there a kgal or constnKtive obligation to transfer enOMiC benefft to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the oNigation can be Thured reliabty. Expendrture is dassified by activty. The costs of each a¢tivity are made up of the totsl of direct ¢osts and shared costs, induding Support Costs involved in undertaking exh activty. Direct costs attributabk to a Sing activity arè allocated direc to that aclivity. Shared costs which contribute to more than one xtivty and support costs which are not altributalAe lo a single activty are apporboned between those activities on a basis consislenl with the use of resources. Central staff costs are allccated on the basis of bme spent. and deprecialH charges allocated on the portion of the assefs use. Expenditure on tharitable a¢tr¥ib'es inojrred on directy undertaking the activits'e5 which further the Company's obJ¢th"v•s, a$ V•ll as any associated support costs. Grants payable a Clr9ed in the year when the offer is made except in those cases the offer is condiknonal, $uth grants being reeogni5ed a$ expenditure when the ¢ondition$ atta¢hing are fulfilled. Grants offered subject to condrtion$ which have nol been met at the year end are notod as a commitment. but not accrued as expenditure. All expenditu is inclusive of irrecoverable VAT. Page 9
FNZ FOUNDATION (A company Ilmlted by guarnntee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Accounting poli¢iM (¢ontlnu•d) 2A Interest rncelvable Interest on fvnds hehj on dep)sit is induded when re¢eivable and Iho amount Can be measured reliably by the Company.. this is normalty up)n rntifi¢ation of the intsrest paid or payable by the instrlut50n with whom the fvnds are deposited. 2A InvMlments Fixed asset investments are a form of financial instrument and are inFbally reeognised al theii transaction cost and subsequenlty measured at fair value at the Balance sheet date. unless the value cannot be measured TelY in which case it is measured at cost bess impairnenL Investment gains and losses, whether r8alised or unrealised. ar8 combined and presented as 'Gain(LoSes} on investrnents. in the Statsmerrt offinancial bvrt$. Investmnts held as fixed assets are shown at cost less provision for impairmenL 2.6 D•bton Trade and other debtors are rewnised at the settlement amount after any trade discount offered. Prepayments a valued at the allUnt prepaid net ofany trade disc(>unts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-terrn highfy liquid inve5tmenls vthh a Short maturity of three months or less from the date of acqUisOn or opening of the deposit or simiLqr account. 2.8 Llabllltles and provisions Liabilits"es are re¢ognised when there 1$ an oblKJation * the Balan¢e SW dale as a result of a past event, it is probable that a transfer of econorft benefft wll be requKed in settleff£nt. and the amunt of the settlement can be estimated relrabty. Liabilities are recognised at the aUnt Ihat the Company antscipate5 it will pay to seitbe the debt or the amount it has receNed as advanced payments for the goods or serv5 it must provmle. 2.9 Finan¢lal Instruments The Company onty IMS finanual assets and finanoal liabilities of a kind that qualify a$ basic financial instruments. 8a$i¢ finanaal instruments are initsalty reeognised at tranSactn value and subsequent measured at their settlement value wrth the eXceptn of bank loans which are subsequenuy measured al amortised ¢05t using the effecbve interest method. 2.10 Fund accountlng General funds are unrestricted fijnds which are available for use at the discretion of the Trustees in fijrtherance of the general obie¢ti¥es of the Company and whM* have not been desi9nated for other purposes. Investment in(xJme. gains and losses are to th? appmpriate fund. Page 10
FNZ FOUNDATION IA CoMnY Ilmlt¢d by 9uarMt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Income from donallons and logacies Unre8trlct•d nds 2022 Total lund8 2022 Donations Unrestricled fvnds 2021 Total fiinds 2021 1,025,000 1,025.000 Inv•gtment In¢ome Unrestrlcted funds 2022 Totsl funds 2022 Total funds 2021 Interest recebvable 420 Anatysls of grants Grants to Inslitutions 2022 Total funds 2022 Total funds 2021 Grants to Institutions $05.000 50S,000 Anal$ of grants to instrtubons in the The Nalure Con5ervancy'. £500,000. We Hdp Ukranians: £5,000. Page 11
FNZ FOUNDATION (A company Ilmited by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Artaty•i% of •xp•nditur• on charilabl• actlvlti Summary by fund type Unr08tr1ct•d funds 2022 Total 2022 Grants to Institun$ Bank charges Audit and accountsn¢y fees Training fees Insurance 505,000 505.000 2.100 750 1.112 2,100 750 Total 2022 509,046 509,046 As restated Unrestricted A5 TrSt•tad fvnds Total 2021 Bank tharges Audrt and a¢counlancy fees Legal fees Insurance 146 2, 700 30,829 834 146 2. 700 30,829 834 Total 2021 as restated 34.509 34.509 The trustees have reslated the comparatives in order to provide a more delailed anatysis of expenses as they believe that this will be benefiu'al to the user of the accounts. There is no change to total expenses or their classification between dFrect and support as a result of this mre detailed analysis. Page 12
FNZ FOUNDATION IA Company limit•d by guarnnt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Anaty8 d expenditur• ty aclivili•• Grarrt funding of activrties 2022 Support costs 2022 Tol•l fvnds 2022 Grants to institutions Bank charges Audit and a¢¢ountsncy fees Training fees Insurance 505.000 505,000 84 2,100 750 2,100 750 1.112 505.LM)O 509,046 As stated As Tr$tated Support Total fvnds 2021 2021 Bank charges Audit and accountancy fees Legal fees InsuTan( 146 2.700 30.829 146 2, TOO 30,829 834 34.509 34,509 The trustees have reslated the ¢omparatives in order to pn)vide a ne detailed anatysi$ of expenses as they believe that this wll be beneftial to user of the accounts. There is no change to total expenses or their dassificat)n between direct and supwt as a result of Ihts more detailed anaky*'s. Trust•u' r•mun•railon and exp•n8es Durin9 the year. no Trustees le1Ved any remuneration or other berth {2021- £NIL). Ourin9 the year ended 30 Novernber 2022. no Tnjstee exp8n585 have been incurred (2021 . £NIL). Page 13
FNZ FOUNDATION (A company limlled by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Fix•d a$8•t Investments Unllsted instments Cost or valuath)n At 1 December 2021 500,000 At 30 November 2022 500,000 Not book va• At 30 Novembor 2022 500.000 At 30 November2021 500.000 10. Debtors 2022 2021 Du¢ wlthln one year Prepayments and a¢crued income 278 278 11. Cr•dilorn: Amounts lallln9 du• withln one year 2022 2021 Trade Creditors other ¢redrtors Accruals and deferred incom? 2,700 500.000 2,089 2.700 604,789 2.700 Pa90 14
FNZ FOUNDATION (A company limited by guarnntee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 12. Ststwn•nt of funds statement of fund8- current y•ar Balan¢• al 30 Novombor 2022 Baknnc• at 1 December 2021 Incom• Expenditure Unrestrictsd funds General Funds- abl funds 1A90.182 {509,046) 981.556 Page 15
FNZ FOUNDATION (A company limlt•d by guarnntse) NOTES TO THE FINANCIAL STATEmE1s FOR THE YEAR ENDED 30 NOVEMBER 2022 11 Statement of funds l¢ontlnu•d) Staterne of fund• . prnr y•ar Balance 8t 30 November 2021 Gain In¢wme &penthium (Losses) Unrostrlctgd fund General FurK15- all furKIs 1,025.C (34.509) 499,691 1,490. 182 13. Summary of fvnd8 Summary of funds- currnnt year Balanc• al 30 Nov•mbgr 2022 Balanc• at 1 D•cember 2021 Income Expenditur¢ General funds 1,490,182 420 (509,046) 981,5S6 Summary of fund•- priof yur Balance 8t 30 November 2021 Gain (Losses) Income Expenth"lurn General funds 1,025,000 {34.509J 499,691 1.490. 182 Page 16
FNZ FOUNDATION (A ¢ompany limited by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 14. Analysls ol n•t ass•ts betW•on funds Anatysls of net a88•ts btheen funds- curr•nt year Unrestrlcted funds 2022 Total nds 2022 Fixed asset investrnents Current assets Creditors due wIt"n one year 500,000 986,345 {504,789} soo,000 986,345 IS04,789) Tot•1 981,S56 981.556 Anatys15 of net assets bet*T•n funds- prior y•ar Unrnstricted funds 2021 Total fvnds 2021 Fixed asset investments Current assets Credilots due wthin one 500.000 992.882 (2.700) 500.Ot)O 992,882 (2, 700) T¢)t41 1.490.182 1.490,182 15. R•l•ted paty tran8aCtk>ns During the ujrrent pwiod there were no related paty transactions. However during the last period investments wrth a cost of £500.000 tre sold for a considerats"OD of £999,691 to entit of which a Inistee, CP Warner. 15 an emph)yee. CP Wamer dAJ not vote on the decision by the charity to make the disposal and the trustse$ ¢onstder that the disposal was in the best interest of the ¢harty, wilh a fair retum receNed on the investmnt Page 17