Charity r¢gistration number.. 1200867 MAGS Charitable Trust Annual Report and FiDanrial Ststements for the Year Ended 31 Jalluary 2025 Horne Brooke Shenton Chartered Accountants 15 Olympic Court Boardmans Way Whit¢hills Business Park Blackpool FY4 5GU
MAGS Charitable Trust Contents (eontinued) Reference and Administrative tktsils T¢¢5, Report 2to5 Sthtement of T1¢¢5, Responsibilities Independent Examinels Rert Statement of Finan¢ial Activiues Balance Sheet Notes to the Financial Statements Ioto 16
MAGS Charitable Trust Reference and AdministrAtive Details CbalnnAn Mr P¢¢¢r Fwrell Trustefs Mr Peter Farrell Mr Andrew James Brundish Mr Roger Affhur Pursglove Senlor Management / Le4dersblp Mr Tim Murphy, Manager Team Charity Regi5tr8tlon Trlumber 1200867 Priu¢ipal Offlee l Rosewo(Ml Close ThorntOD-Cleveleys Lancashire FY5 4EW Independent Examlner Horn¢ Brooke Shenton Chartered Accourntants 15 Olympic Court Boardmans Way Whitehills Buslness P Blackpool FY4 5GU BkerS Virgin Money London Piccadilly Circus 7 Gold Street Northajnption Northainptionshire NNI IEN Page I
MAGS Charitsble Trust Trustees, Report The trust¢¢s present the annual report together with th¢ finaneial statement5 of th¢ charity for the year ended 31 January 2025. Trnstees ol¢¢r5 The tsustees and officels seThing during the yw and since the year end were as follows: Tntstees.. MT Peter Farrell Mr Andr¢w James Brnndish Mr Roger Arthur Pursglove Chairman: Mr Peter Farrell Senior Management / Leadership Team: Mr Tim Murphy, Manager Cha5r'$ Report: MAGS Charitable Thsst is managed by its Trnst¢¢s and Tr$1 Manager. Regular ¢ommuni¢ations kept betw¢en them, and fornial m¢¢tings held and documented periodically os required. The Chair OrTne8 ¢alls nd In2[geS mtttings with the TTUStees and with all the Volutjteers. W¢ hosted an open day ¢)Dboard Margaret Kane, which resulted in 5 new volunteers joining. bringing the number of volunteers to 32, made up of TNstees. Skippers, Crew and other helper& We have also had some Voluntee take a year off, leaving 26 active volunteers up io year-end. No new tNstees have b¢¢n appointed since the charity was started. Roger reached the end of his iniiial tern) and has agreed to continue as Trustee. New trustees will be rruited by the existing tn]s¢e¢s, approaching current volunteers to Tequest new In]SS. as a1 when required. DaY-tdaY activities. including managing finan¢e$, bookings athd OTganising crew to support bookings, are lllaged by the Trust Manager who reports to the Truee$. Skippers and Crew are trained on the job. Skippers start a5 Crew and go through more ext¢nsiv¢ training and formal assessTnent to attain a recogni5¢d l¢vel of competence io skipper a boat on inland watenvays ¢anying L to 12 persons. Boat bookings are always staffed by on¢ trained and qualified Skipper and one CTew a5 a Minimu The activities are all perfornied by volunteer skippe and Crew. All the Trustees, as well as the Manager, are also volunteer Skippers and help support the day-toknday operations and maintenance of the boats. This financial year, we have revamped the bathroom ond roilet on Margare¢ Kane, going down to only having I toilet on board instead of 2, but it h&$ made the shower a lot more accessible. TaNy Cleave has a complet¢ rebuild of the stem due to mould and wood rot. All the ba¢k end was replaced. Without the dedication and support of all the Volunteer5, regardless of the rol¢ ea¢h pla. the canal boat project would noi be the success It is. All of the people who use the boats enjoy it and gain a lot of health and well-being benefits from it. This is reflected ID the feedback we get from our vlsitors, and is a lestalllent to all the Volunteers involved who passionately and freely give up their time expertise to provide this wonderful experience for so many. The Trllstee5 would like to thank all our Volunteers and amyone who helps in any way lor dKir contlnued support and dedication io make this canal boat projeci ihe succes5 It is today. There is no other facility like it on the Lancaster Canal, and everyone should b¢ very proud ofthe differ¢n¢e they make to so rnany people. Page 2
MAGS Charitabk Trust Trustees, Report {eonllDued) Objectives a#d aetlvities Th¢ objective of MAGS Charitable Trust is the relief of those in need by reason of youth, age, ill health, dlsability, fmancial hardship or other disadvantsge fL)r the public benefit ID the United Kingdom by the provision of affordable respite breaks on specially adapted boats. Our pu0&¢ is to provide an affordable, relaxing and ¢njoyable canal knt experience to our guests who would not otherwise be able to enjoy At without a¢ce5S to a boat that accommodates their needs. To satisfy our purpose and meet these obje¢tives, our volunteers have op¢rated our purpose•built wide beam canal boat on the Lancaster Canal. taking families and groups who hav¢ rnedically diagnosed spla] n¢e(L% disabilities, pr mobility or long-ierm il]n¢ys¢s on day trips or mini breaks on board one of OUT Canal l)oats. We have two boats for this purwse. "Margar¢t Kalle, is primarily uscd it h&8 been purpose-built to aecommodate anyone with p(M)r mobility and can provid¢ residential breaks."Tawy Cleave" is used to support Margaret Kane. Tavy Cleave was built in 1964 and is only accessible to those with good mobllity and for short trips. There is more about the boaL8 on page 4. Pag¢ 3
MAGS Charitable Trust Trustees, Report (continued) Tbe Canal Boat5: "Margaret Kane" is a wide-beam caDal boaL operdting on the Lancaster Canal, rwi entirely by Volunteers since being established irt 2007. The 15 unique on the Lancagier Cat)al in that it has been purpose built to ter for poor mobility and is equipped with a wheelchair lift, profile / hospital bed in on¢ bedroom, as well wide CO]dOr & doots allowing easy wheelchair access throughout. We even provide Skipper and Crew, leaving guests free to relax and enjoy the journey. There is spa¢ious. ¢entra]ly heated liying accomnmydation for up to eight people comprising Galley (kitrh¢n), LoungelDining Room, Full Size Walk-in Shower, Cassette toilet, two bedrooms. Th¢ lounge seating converts to a double bed. "Tavy Cleave- is our second boaL which is available for day tiIp5 only. Tavy is a wood¢Tr canal cruiser buill 1964 by Hoh Abott in StopOrt and is listed in the National Register of Historic Vessels of UK. She is a ¢horn1ing boaL though do¢s not boast the same luxuries Margaret Kan¢ offe. There 15 b¢nch seating inside, a removable dining table, alld h&$ a rnini kitchen with a 2-bunJ¢r gas hob and a sink. The is a"bathroom" with sink and cassette toilet. TaNy provides a very different anal experi¢nee. You do need io be of good mobility in order to board safely, as the di5tin¢tive rear deck provide5 no easy access point 2ik¢ Margaret Kan¢ do¢5. Achievements and performance". tkspite breach of the caDa] resulting in closur< resulting in cancellations potentially of around So people, we still managed io weIcome aTound 260 people on board the canal Ix>ats for residential breaks or day trips. We request feedback fornis be completed from our Visito All the feedback has been very posiiive and omplimentary in all areas. includinui the crew, facilities, cleanliness and health and wellbeing benefits. Our volunt¢ers have hosted a nurnber of events to help with fund raising, including 4 weeks in pop- up ehariry shop. Christsnas concert and social. We have provided ulliforms lo volunteers where needed. Fin8nclAI Summary: Annual Accounts are b¢itig prepared and submitt¢d by appointed accountants Horne Brooke Shenton and will be pllblished on the clwit1 Commission website when complete. In thls reportiDg period: No Incidents have occurred or been reported. . We do not have ally government contrart5 or wts from central government or Ioc81 authority. We do Dot rnake grdnts to individua]s orcharities. • No Trusttts r¢¢¢ive payments and none have resigneiL . No income Iw been received fro outside ofthe UK. We only PTovide activities in th¢ UK. . No spending has been made outside the UK. . We do have trading sub5idiaTies. . Publi¢ address delail regist¢r¢d with charities commission are as shown aE%>ve. . Th¢ charity is not part of a wid¢T group stwctL]re. W¢ have iwo permanent. part time, paid employees. Though im Allgllst 2024 one of these submitted Tesignaiion. As it was n¢aring the end of the se&8on the position was noi refilled. . We have 26 active volunteers. . We have provid¢d s¢rvi¢es to around 260 children and adults on day trips and Tesidential breaks. Enhanced DBS (hecks are required and conducted for all volunteers. Policles In place includ¢- Volunte¢ring Safeguarding Risk As5¢ssJnent . Projed Management and Govemance Induction and Trnining • Emerg¢ncy Notihcation Buoyancy Aids . Bo* Maintenance In The Event of Fire Pag¢ 4
MAGS Charitsble Trust Trustees, Report (continued) Financial r¢view Prlftclp&lfundthg sour¢e5 During the year the ckwity received donations of £50,0(NJ from the M A Hawe Settlernent. The Charity has unre5trithd income ndS available at 31 January 2025 of £153,181. In Conelusion: We continue to provide a unique ¢xrkrience f all our guests. We are reaching more and more people and each year attTact both returning and new guesrs. W¢ consistently strive to meet and exceed expectations of all our guests and to be true to ourmission and goals. l am very proud and honoured to chair su¢h a worthwhile charity and be part of such a wondethl 0UP of Volunteers. Th¢ aDDual report was approved by the trustees of the chatity on 12 Nov¢mber 2025 and signed on its behalf by: Mr Peter FaTreU Chairnian and trust¢¢ Page 5
MAGS Charitable Trust Slatemenl of Tru$te¢s' Ruponsibilities The ttThstees are responsible for prarIng the t, report and tbe fmancixl statements in accordance wilh the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accoting Pra¢ti¢e) and applicable law and regulations. The law applicable to chariti¢5 requires the trltsttts to prepare financial statements for each financid year which give a trne and fair view of the state of affaits of the charity and of the incoming resources and application of resouT¢es of the charity for that period. In preparing these financial statem¢nis, the lrnstees are qUIred to.. select suitable aecounung policies and then apply them consistently observe the methods and prin¢ipl¢s in ihe Charities SORP. make judgements and estimates that are reasonable and prndent. state whether applicable accounting standards have iKen followed, subject to any material departures disclosed and explained in the fmancial statements. and prepare the financial staiern¢nts on the going cimcern Iwis ulltess it is inappropriate to presume that the charity will continue in business. The trustees ar¢ responsible for keeplng proper aounting re¢ords that disclose with reasonable accuracy at any time ihe financial position of the charity and enable them to erL8ure th* the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the on5titutiOJL The trustees are also responsible for Safeguarding the assets of the ctmrity and henc¢ for taking reasonable steps for the prevention and detection of fraud and other iwlariiies. The trnstees are responsible for the rnaintenance and integrity of the corporate and fitwicial infornialion included on the charttable compan$ w¢bsite. Legislation gov¢rnin¥ the prepardtion and dissemination of rmancial statements may differ from legislation in other jurisdictii)ns. Approved by the tnte¢S of the charity on 12 Nov¢rnber 2025 and signed on its behalf by". Mr Peter Farr¢ll Chairman and trustee Page 6
MAGS Charitable Trust Independent EIaminer'5 Report to the trustees of MAGS Cbgritable Trnst I report to the trusl¢es on my examination of the accounts of MAGS ChaTitabl¢ Trusi for the year ended 31 January 2025. Responsibilities and basls of report As the charity trustees of MAGS Charitable Trllst you are responsible foT the preparation of the accounts in accorda1C with the requirements of the Charities Act 2011 ('the Act,). I Teport in respecl of my eXam1tlion of the MAGS Charitable Trnsts accounts Caled out under section 145 of th¢ 2011 Act and in canying out my examination I have followed all the applicable Directions given by the Charity Collllnission wid¢r section 145(5)Ib) of the Act. Indep¢ndeDt examiner's Sta¢em¢nl I have completed my examination. I confim that no Materi matters have ¢om¢ to my attention in ci)nnKtion with ihe examination giving me cause to believe that in any material respect.. l. a¢utIng records were not kept sn respect of MAGS Charitable Tnt os required by se¢lion 130 of the 2. the accounts do not aeeord with those re¢ords" or 3. the accouDls do not comply with th¢ a¢¢ountiti# requirements ¢on¢erning the fornh and content of accounts set out in th¢ Charities (Accounts and Reports) Regulations 2008 other tban any requirement that the accounts give a 'tsue and fair view, whith is not a matter considered &8 part of an independent exatnination. I hav¢ Do concerns and have come acmss no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understhnding of the accounts to be reached. Diane Garlick FCA FCCA Chartered Accountants ICAEW 1 S Olympic Court Boarthhans Way Whitehills Busines5 PaTk Blackpool FY4 SGU 12 November 2025 Page 7
MAGS Charitable Trust Stgtement of Financial Aetivities for the Year Ended 31 January 2025 Unr¢strieled r¥nds Totsl 2025 Note Iocome Endowments from: Donations and legacies OtheT trading activitie5 Investrnent income 53.754 3.420 14 53.754 3.420 14 Total 57,188 57,188 Exptnditure on., Charitable activities (56,724) (56,724) Total expenditur¢ (56,724) 56,724 Net income 464 464 Net movement in funds 464 464 Reconeillatlon of fuDds Total funds brougbi fonvard Total funds carried forward 152,717 152.717 17 153,181 Unrestricted 153,181 Total 2024 Note lTrcome 8Dd Endowments from: Donations and l¢gacies Other trading activitie5 Investment income 258,241 4.450 258,241 4.450 Total income 262,7(M) 262.700 Expenditure on". Charitable activitie5 (109.983) (109.983) Total expenditure (109.933) 109,983) Net income 152,717 152.717 Net movement in fijnds 152,717 152,717 Reconciliation of funds Totsl fLmds carried forward 17 152,717 152.717 All of the ch]ty'S tIvitIeS derive from continuing operations during the atove two periods. The fimds breakdown for 2024 is shoMTh in not¢ 17. The notes OD pages 10 to 16 forni an iAlesTal part ofthe5e fmjallcial statements. Page 8
MAGS CharitAble Trust (Registration number: 1200867) Balance Sheet as at 31 January 2025 2025 2024 Note Fixed assets Tangible assets 12 91.702 96,385 Current •ssets D¢btors Cash at bank aJKi in hand 13 14 782 63,230 783 58,114 64,012 58,897 Creditors: Amounts falling due wlthin one year 15 (2,533) 12,565) Net current assets 61.479 56,332 Net $¢($ 153.181 152,717 Funds of the ebartty: Unre5tric¢eiJ income fvnds Unrestricted fidS 153.181 152.717 Total funds 17 153,181 152,717 The fancial statements on pages 8 to 16 weTe approved by the trustee$. and authorised for issue on 12 November 2025 and signed on their behalf by: MT Peter Farrell Chairman and truee The note5 on pages 10 10 16 forn] an int¢gral part of these f]nancial statements. Page 9
MAGS Charitable Trust Notes to the Financial Statements for the Year Ended 31 January 2025 A AecountlDg poli¢i4s St#trm¢Dt of eomplian¢e The financial stat¢ments have been prepared arGordance with the second edition of the Charttie5 Statement of R¢commended Pra¢tice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Irelartd (FRS 102) alld the Charities Act 2011. Basi5 ofpreparation 4GS Charitabl¢ Trust meets the defmitlOD of a public benefit entity under FRS 102. The account5 (financial statement5) have been prepared under the historica] cost convention with items recognised at cost or transaction value unless oth¢rwise stated in the relevant not¢(s) to these account5. Golng Concern The trustees consider that there are no niateriai uncertainties about the charitys ability to conlinue as a going on¢¢rn. Ineome and endowmtmts Volunlary income including donations, gifis, legaties and that provide core funding or are of a genernl nalure 15 recognised when the charity has entitlement to the in¢ome. ff is probable that the income will be received and the amouni can be measured with sufficient reliability. Donatlons and Iwci Donations and legacies are reCognid on a re£¢ivable blS when receipt 15 probable and the amount can b¢ reliably measure Expenditure All expenditure is re¢ogDised once ther¢ is a legal or ConStntiyC obligation to that expenditure, it is probabl¢ settlement 1$ required and the amount be measured reliably. All costs are allocated to the applirable expenditure heading that aggregate similar costs to that category. WTr¢re costs Cannot be directly attributed to particular headings they have been allo¢ated on a basis consistent with the use of resources, with centrdl staff costs allo¢ated OD the basis of time sp¢nL and depreciation charges allocated on the portion of the asset's u%e. Other 5UPPOrt ¢o$ts are allocaied based on tILe spread of staff costs. Charitable activities Charttable expenditure Comprises those costs incurred by the ¢harity in the delivery of its a¢tivities and services for its beneficiarie5. It includes both costs that can be allocated directly to su¢h a¢iivities and those costs of an indirect nature necessary to SLq)POrt them. Support eosts Support Costs include central functions and have been allocated to activity ¢051 categories on a b&sis consistent with the use of resources, for example. sthff ¢osts by the time spent alld other costs by their usage. Governance cost5 These include the cosis attributable to the eharity's compliance with ¢onstitut7onal and statutory requirements. including audil strdtegic managen]¢nt and tmstees meetings ad r¢i]nburs¢d &wses. Page 10
MAGS Charitable Trnst Notes to the Financial Statements for the Year Ended 31 Jaou2ry 2025 (continued) TaxatlDll The charity is considered to pa&8 the tests set out in Paragraph I S¢h¢dule 6 of the Firwice Act 2010 and therefor¢ it meets the definition of a charitable rompany for UK wrporation tsx purposes. Accordingly, the ¢harity i$ poienÉially exempt from taxation in r¢spect of income or rapilal gains received within categori¢$ overed by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of ChaTgeable Gains Ad 1992, to the extent that such income or gains are applied exclusively to charithble pllrposes. Tangible red assets Jndividual fixed assets initialty recorded Mt cosL less any subsequent accumulated depreciation and subsequent Accumulated irnpairnient losses. Depreelation and arnortisation Depreciation is provided on tangible fixed assets SO &% to write off the c(trst or valuatitsn. less any estimated residual value, over their eXptea use1 economic life as follows.. As$e¢ c]ass Computer equipment Canal bo5 Depretiation method and rate 250h r¢du¢ing balance basis 5Y• straight line basis Cash and equlvalents Cash and cash equivalents comprise rash on hand and ¢al] deposits. and other short-tenn highly liquid investments that are readily convertible to a amoum of cash and are subject to an insignifi¢ant risk of change in value. 5trueture Unrestricted income fLmds are g¢n¢ral funds that are avail4ble for use at the trustres discretion in fitherance of the objectives of the charity. Pensions and other post T¢tiremeDt obligstioDs The charity operaS a defu]ed contribution pension Scheme which is a pension plan under which fixed contiibutions are paid into a pension fund and th¢ charity has no legal or ¢onsttuctive obligation to pay further contributions even if the fid does not hold sufficieTJt assets to pay 411 employees the benefits relating to employe servtce in the curr¢nt and prlor periods. Contributions to defmed contribution plans are re¢ognTsed in the Siatement of Financial Activities when th¢y are due. If contribution payments exceed ihe contribution due for service, the excess is recognlsel as a prepaym¢nt. Pa8ell
MAGS Charitable Trust Notes to the Financial Statements for the Year Ended 31 January 2025 (continued) 2 Income from dothatlons and l¢gacie$ UnrfstTiCted funds Gen¢ral Total fund$ Donations legaries; I)onations from individuals Dotvdtions from other charities 3.754 50,000 3.754 50,000 Total for perlod ended 31 January 202S Totsl for period ended 31 Janllary 2024 53,754 53,754 258,241 258.241 3 ID¢ome from other tr4dlg o¢tlvities Uttrestrleted fund$ G¢ner#l Totsl rund$ Trading income. Boat booking fees 3,420 3,420 Total for period ended 31 Jaary 2025 Total for perlod ended 31 2024 3,420 3.420 4 Investmemt ineome Unrestricted fund5 Gen¢r#l Totgl funds Interest receivable and similar iDcome' Interest receivable on bank deposits 14 14 Tot#] for ptrlod ended 31 Janury 2025 Total for period ended 31 Janury 2024 14 14 Page 12
MAGS Charitable Trnst Notes to the Financial Statements for the Year End¢d 31 January 2025 (eontinued) S Expenditure on chAritgble aetivltks Unrestrleted funds General Total funds IYot¢ Alloc¢d support costs Governance costs 16,362 40,362 16,362 40,362 Total for period ended 31 J#Dllary 202S Total for period ended 31 January 2024 56,724 56.724 109,983 109,983 6 Analy515 of governn¢e and support Costs Support costs 8llocated to ebgritable activltles Adrnlnlstratlon costs Tot81 (und$ Canal Boat 16,362 16,362 Tot81 for period ¢nded 31 Jamuary 2025 Total for period ¢nded 31 JaAuary 2024 16.362 16,362 23,642 23,642 Governan¢¢ sts Unrestricted fund5 Ceneral Total funds Staff costs Wages and salaries Pension costs Other governance costs Independent Examin¢r's remuneration Total (or period ended 31 January 2025 Total for period ended 31 JJnuAry 2024 30,474 914 6,340 2,634 30,474 914 6,340 2.634 40,362 40,362 86,341 7 Net IneomingloutgoiDg resources Net inwming resoutKe5 for fv year include: Pag¢ 13
MAGS Charitable Trust Notes to the Financial Statements for the Year Ended 31 January 2025 (continued) 2025 2024 Oth¢r non-audit servTc¢s D¢preciation of red assets 2,634 5,378 2.580 6,720 8 Trnstees remuner8tlOn ad expenses No trustees, nor any persons conne¢ted with them. bav¢ [e1Ved any remunerydtiOD from the charity durAng the year. No tste¢S have received any reimbursed expenses or any other benefits from the charity during ihe y¢ar. 9 Staff w>stJ The aggregate payroll ¢osts were as follows.. 2025 2024 Staff costs during the year were: Wages and salaries Social security Costs Pension costs 30,474 66,860 914 1,004 67,864 31.388 The monthly average number of p¢t3ons (including senior management I lead¢rship team) employ by the clwity during the year expressed as fidl time equivalents was a8 follows.. 2025 2024 No Pern)anent ernployees Contributions to the employee p¢nsion schemes for th¢ year ti)talled £914 (2024- £1,004). No employee received emoluments of more than £60,000 during the yvdr 10 Independ¢nt Èxamlller's reDIUDeratioD 2025 2024 Olber fees to exatniners The examining of coUnt8 of any associate ofthe ¢lwity A]1 other services 2,160 474 2,160 420 2,634 2,580 Page 14
MAGS Charitable Trust Notes to the Financial Statements for the Year Ended 31 January 2025 (continued) I l Taxation The cknity 1$ & registered charity and is therefore exeD)pi from taxation. 12 Tangibk fixed assets Furniture #ad equipment Computer ¢qulpment Other tartgible rixed asset Totsl Cost At l February 2024 Additions 1,105 210 102,000 103,105 695 485 At 31 Jalluary 2025 485 1,315 102.0 103,800 Depreciation At l February 2024 Charge for the year 345 207 6,375 5.1(K 6,720 71 At 31 January 2025 71 552 Net book vAllle At 31 Jat]LWy 2025 414 763 90,525 91.702 At 31 January 2024 760 95,625 96,385 13 Debtors 21125 2024 Prepayrnents 782 783 14 Cash and c*sh equivaknts 202S 2024 Cash al bank 63,230 58,114 15 Creditors: •mounts falling due within otte year 2025 2024 Other taxation and socia] security Pension scheme CTcditor Accruals 240 133 2,160 211 194 2,160 2.565 2,533 Pag¢ 15
MAGS Cbarilable Trust Notes to the Financial Statements for the Year Ended 31 January 2025 (continued) 16 Penslon other sch¢e$ DefiDed eontribvtion peD$iOn seheme The charity 0raI¢S a defed contrbuti(Trn pen5i(m scheme. The pen510D Cost Chge for the year represents contnTr>utions payabl¢ by the charity to the scheme and amounted to £914 (2024- £1.004}. 17 Fllnds Balance at I February 21124 In¢oml•g resourrts Resourtes expended Balance at 31 Ja4ry 2025 Unrestricted funds Genernl 152,717 57,188 (56,724) 153,181 Incoming resourtts Resources expended Balance ))t JI 2024 Unrestrkted funds Generdl 262,700 (109.983) 152,717 18 Related party tr#nsaetioDs During the year the clmrity mad¢ the following related party transacl&on5.' Ken$itkEton House Trnst P Farrell is a th]stee of MAGS Charitable Tst and Kensington House T$t. During the year no donations wer¢ received (2024 - £145.340). At the balance sheet dat¢ th¢ amount due tolfrom Kensington House Tnl was £Nil (2024- £Nil). Page 16