Registered Iyumber: 13987233 Charity Number: 12U2142 GENESYS LEGACY PROJECT LTD (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Reference and administrative details Trustee5' Annual Report Auditor's Report Statement of Financial Activities (incorporating the incotllc and cxpcnditure account) 10 Balance sheet Statement of Cash Flows 12 Notes to th¢ Financial Stat¢m¢nls 13
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2024 Charity registration number 1202142 Company registration number 13987233 Trustees Dr S L Dugdale Dr N R Mot7nt Registered otTice 2nd Floor Butler House 177-178 Tottenham Court Road Luiidon WIT7AF Banker Bar¢lays Bank Pl¢ Market Place Town Centre L¢i¢est¢r LE87 2BB Auditor Jones & Partners Limited 2nd Floor Blltler House 177-178 Tottenham Court Road London WIT7AF
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2024 The Trustees present their report and the audited financial statenients ot the charity tor the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting bv Charities" in preparing the annual report and financial statements ot the charity. The financial stateiiient5 have been prepared in accordance with the accounting policies set out in notes to th¢ accounts and Lotnpl). '1th th¢ charity's gov¢rning doLum¢nL th¢ Cl)ariti¢s Act 201 l and ALLOUtiting and Reporting by Charities.. Sialement of Recommended Pracli¢e applicable lo charities preparing their accounts in accordanLe with the Financial Reportiiig Standard applicable in the UK and Republic of Ircland publishcd in Octobcr 2019. Trustees ofthe charity The directors of the charitable company are its trustees tor the purposes of charity, law. The trustees who have served during the year and since the year end were as tolloTrvs'. Dr S L Dugdale Dr N R Morant D R Clark (rcsigncd 5 Noveinber 2024) None of the trustees has any bcncfiLial interest in the coinpany. All of thc trustres arc mcmbcrs of th¢ cotnpany and guarantcc to contributc £ l O in th¢ cvcnt of a windin¥ up. Objectives and activities The charity's objects are for the public benefit, to further such purposes which are charitable ac¢ording to the law of England and Wales as th¢ trustees see fil. A¢iiviti¢s are the donaiion of sums 10 other r¢gist¢red ¢hariti¢s as d¢¢id¢d by the Iruste¢s throughout th¢ year, funded by donations received from Genesys Biotech Lrd Public Benefit The Trustees have paid due regard to guidance issued by the c.harity c.ommission in deciding what activities the charity should undertake. All Board Members give their time treely and no remuneration was paid to them. Achievements and perforniance Donations ot £500,000 'ere received from Genesys Biotech Ltd in February 2024. During the year 22 charities were supported. receiving a minimum donation of £5,000 of which, the folloThing charities received donations of £50,000 each.. British Hcart Foundation Cancer Research UK Childhood Tumour Trust Macmillan Cancer Support MS Society Shelter Shootin¥ Star Hospice Woking Hospice YMCA
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2024 We also donated to the University of Bath £IOk and The University of Liverpool £9k for their bursary scheme to support students otherwise unable to afford university education. All of these charities are available to local people and support the health or mental health of people young and old. Financial review (illcluding reserves policy) During the year. the charity received donations totalling £500,000 and tnade charitable donations totalling £594,000. All donations were unrcstrictcd in naturc. Nct asscts of t]ic charity as at J l March 2024 wcrc £1,294.984. The charity does not have si¥nificant operational expenditure or any long-term committnents. The donations mad¢ subj¢Lt to funds availabl¢ to th¢m which arc rccciv¢d fruiii G¢n¢Sys Biot¢Lh Ltd, a compan>, in wliich the Trustees are directors. The charity therefore ensures sutTi¢ient funds are available to mcet its liabilitics &$ and wheii they fall due. Risk management Genesys Legacy Proje¢t Ltd is ¢ommilted lo identifsjing and assessing the risks that are associared with the smc)oth runiiing of the charity. These include looking at the inveslinents made and ensiiriiig the ¢oinmitm¢nls that hav¢ b¢¢n mad¢ ar¢ always ¢ov¢r¢d. It also in¢lud¢s ensuring ¢ommitm¢nt and quitable planning for the charity and ensuring that all regulatory requirements are met. The risks are analysed and steps taken to reduce impa¢t or likelihood of risk Ihere possible and these are monitored on a regular, agreed basis by the trustees to ensure that the steps taken are still relevant. Pliins for future periods Donations will continue to be made quarterly across a number of charities. Structurey governance and management The list of charities that the trustees choose from are suggested by the staty of Genesys Biotech Ltd. The trustees meet to decide which charity they wish to support and the amount the)1 ivill donate to the the charity. Dr S L Dugdale is then responsible for contacting the charilies and making the suithble donations of unrestricted funds.
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2024 Trustees, responsibilities The trustees (who are also directors of Genesys Legacy Project Ltd for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Cotnpany law requires the trustees to prepare financial statetnents for each financial year. Undcr company law thc trustccs must not approv¢ th¢ financial statcmcnts unl¢s5 thcy arc satisficd that they give a truc aiid fair view of the state of affairs of the cliaritablc company and of thc incoming rcsourccs and application of rcsourccs. including the incoiiic and ¢xpcnditurc. of the charitablc cotnpany for that year. In preparing these financial statements, the trustees are required to: sel¢Lt 5Uitabl¢ aLLountin¥ pDIiiic5 and th¢n apply thctll consist¢ntly- observe ilie methods and principles iii the Charilies SORP 2019 (FRS I O?); mak¢ judgeinents and estimates that are reasonabl¢ and prudent,. state whether applicable UK Ac¢ounting Standards have be¢n followed; prepare the financial statemeiits c)n the going coniern basis uiiless it is inappropriate to presume thai the charitable Uoiiipanv will ¢onlinue in operation. Th¢ truqte¢s are re8ponqibl¢ for keeping adequate accounting r¢cordq that discloq¢ with rea8onabl¢ accuracy at an! time the financial position of the charitable company and enable them to ensure that the finan¢ial statements comply with the Companies Act 2006. Thev are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware-. there is no relevant audit information of which the charitable company's auditor is unaware; and the trustees have taken all steps that they ought to have taken to make ihemselves aware of any relevant audit information and to establish that the auditor is aware of that information. Disclosure of information to the auditor5 We. the directors of the company who held otyice at the date of approval of these Financial Statements a5 set out above each confirm. so far as w¢ arc a'ar¢. that.. there is no rcl¢i'ant audit information of which thc company's auditors are unaware: and w¢ havc taken all thc stcps that w'c ought to have takcn as director5 in ordcr to tnake our5clves aware of any relevant audit infonnation and to establish that the coinpany's auditors are aware of that information. The trusl¢es' report was approved by the Board of Trust¢¢s and signed on (heir behalf by Dr S L Dugdale Trllstee Date.. Jan 31,2025
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GENESYS LEGACY PROJECT LTD YEAR ENDED 31 MARCH 2024 Opinion Wc havc auditcd the financial Statements of Gcncsys Legacy Projcct Ltd (the 'charitable company,) for the year endcd 31 March 2024 which comprise Stat¢ment of Financial Activities. Balance She¢t and notes to the financial statem¢nts. including significaiit accounting policics. The financial reporting framework that has been applied in their preparatioii is applicable law and United Kiiigdc)In Accounting Standards, in¥luding Finan¢ial Reporting Standard 102 Th¢, Fip7ap7cial R¢'porling,Siundardappli¢ubl¢ Ihe UK cip7d Republic of Jreluvd (United Kingdom Generally Aucepled Accounting Practice). In our opinion rhe financial stalem¢nts'. give a true and fair view of the state of the charitable coinpany's affairs as at 31 March 2024, and of its inLoiMing rcsuurL¢S and application of rcsources. including its income and expcnditure. for thc ycar thcn cndcd; have been properly prepared in accordance with United Kingdom Generally Accepted Accountiiig PraLtic¢; and have bccn prcpared in accordancc with thc requirctncnts of thc Charitle5 Act 2011. Ba$is for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit ot-the financial statements section of our report. We are independent of the charitable company in accordance ivith the ethical requireinents that are relevant to our audit of the financial statements in the UK, including the FRC"s Ethical Standard, and 'e have fultilled our other ethical responsibilities in accordance with these reqiiirements. We believe that the audit evidence we have obtained is sufticient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stateinents. we have concluded that the trustees, use of the going concern basis of accounting in tl)e preparation of the financial statements is appropriate. Based on the work we have perfortned, Th'e have not identified any material uncertainties relating to cvcnts or condition5 that, indii'idually or collectively, tllay cast significant doubt on the charitable cotllpany's ability to continue as a going concern for a period of at least twelve months from when the financial 5tatcmcnts arc authorised for issuc. Our rcsponsibilities and thc rc5POllsibilitics of the trustc¢s with rcspcct to ¥oiiig concem arc describcd in the relevant sections of this report. Other information Th¢ other informaiion ¢omprises the infornialion included in rh¢ tnist¢es' annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinii)n on th¢ finan¢ial sialeiiients does not ¢over the other infomiation and w¢ do not express any form of assurance conclusion thereon. Oiir responsibility is to read the other inforniation and, in doing so, consider whether the other information is materially inconsistent with the tinancial statements or our knowledge obtained in the course of the audit or otherwise appears to be materiall)w misstated. If ive identify such material inconsistencies or apparent material misstatements, we are required to detem]ine hettIer this gives rise to a material misstateii)ent in the financial statements themseliwes. It, based on the work we have performed, we conclude that there is a material misstatement of this other infom]ation, we are required to report that fact. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GENESYS LEGACY PROJECT LTD YEAR ENDED 31 MARCH 2024 Matters on which we are required to report by exception Wc havc nothing to pOrt in rcspcct of tlic following tnattcrs in rclation to which thc Charitics (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the infom)ation given in the trustees, re]x)rt is inconsistent in any material respect with the financial stateiiients; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records; or we have not received all the infomiation and explanations we require tor our audit. Responsibilities of trustees As explained more tully in the trustees, responsibilities statement set out on page 5, the trustees (who are also the directors of the charilable coii)pany for the purposes of company laTh) are responsible for the preparation ot the tinancial statenients and for being satisfied that they give a true and fair vieiv. and for such internal control as the trustees detennine is necessary to enable the preparation of financial statetnents that are free froin Inaterial misstatetllent, whether due to fraud or error. In preparing the financial statstnents, the trustees are responsible for assessing the charitable cotnpany's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern basi5 of accounting unlcss the trustees either intend to liquidate the charitable Lotllpany ur to L¢&SC opcrations, or hav¢ no r¢ali5tiL altcrnativc but to do so. Auditor responsibilities for the audit of the financial statements We have been appc)inted as auditor under section 144 c)f the Charities Act ?0 I l and report in accordance wirh the Aci aiid relevant regulalions made or having ¢ff¢cl Ih¢r¢und¢r. Our obje¢tiv¢s are to obtain reasonabl¢ aq8uranc¢ about whether th¢ financial qtatementq as a whole are free from mal¢rial misslal¢ment, wherh¢r due lo fraud or error, aiid to issue an auditor's report that in¢ludes our opinion. Reasonable assurance is a high level of assuranc¢, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will al'ayS detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to intluence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including traud. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a tnatcrial misstatctnci)t in the financial statcmcnts or noii-compliance with regulation. This risk increases the n)ore that compliance ivith a law or regulation is removed from the events and transactions reflected in the financial ststetnents, as we will be less likely to beconie aware of instances of non-compliance. The risk is also greater regarding irregularities occutTing due to fraud rathcr than etTor, as fraud involves intcntional conccalmcnt, forgcry. collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC.'s website .Lik:.audilDrsrLs
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GENESYS LEGACY PROJECT LTD YEAR ENDED 31 MARCH 2024 Use of our report This report IS tlladc solcly to th¢ charitabl¢ company's trustccs. as a body. in accordancc with Part 4 of the Charities (Accounts and Reports) Rcgulations 2008. Our audit w(>rk has be¢n undertaken so that we might stst¢ to thc charitable company's trust¢cs thos¢ matters wc arc rcquired to stai¢ to thcm in an auditor's report and for nc) other purpose. To the fullest extent permitted by law, we d(} nc)t accept or assuiiie responsibiliiy to anyone other than th¢ ¢haritable ¢ompany and th¢ ¢haritabl¢ ¢ompany's trust¢¢s as a body, for our audit work, for this report, or for the opinions we have formed. Jeffrey Lisbak For and on behalf of Jones & Partners Limited, Statutory Auditor Chartered Accountants Jones & Partners Limited is eligible to act as an auditor under section 1212 of the Companies Act 2006. 2nd Floor Butler House 177-178 Tottenham Court Road London WIT7AF
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Funds 2023 Note INCOMING RESOURCES Incoming resources trom.. Donations Investment incoine $00,000 2,964 1,500,000 1,432 TOTAL INCOMING RESOURCES 502,964 1.501,432 RESOURCES EXPENDED Donations Support costs (594,000) (8,212) (i 00,000) (7,200) TOTAL RESOURCES EXPENDED (602,212) (107,200) NET INCOME FOR THE YEAR (99,248) 1,394,232 RECONCILIATION OF FUNDS Total funds brought tonvard 1,394232 TOTAL FUNDS CARRIED FORWARD 1,294,984 1.394,232 Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 10-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) BALANCE SHEET 31 MARCH 2024 2024 2023 Note CURRENT ASSETS Debtors Cash at bank and in hand 2,837 1,299J47 1,432 1,400,000 IJ02,184 1,401,432 CREDITORS: Amounts falling due within one year (7,200) (7,200) NET CURRENT ASSETS 1294,984 1,394,232 TOTAL ASSETS LESS CURRENT LL4BILITIES 1294,984 1,394,232 NET ASSETS 1294,984 1,394,232 Fu[S Unrestricted funds General tunds li 1294,984 1.394,232 1294,984 1,394,232 TOTAL FUNDS 1,294,984 1,394 •32 Jan 31, 2025 -l-hcsc financial stafrtncnts werc approved by thc Board on behalf by: and arc signcd on thcir Dr S L Dugdale Company registration number: 13987233 The notas on pag8s 13 to 17 form part of these financial statements. 11
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) STATEMENT OF CASHFLOWS YEAR ENDED 31 MARCH 2024 2024 2023 Note Cash floiv from operating activities 12 (103,617) 1,398,568 Cash flow from investing activities Int¢r¢st R¢¢eiv¢d 2,964 1,432 Net ¢ash flow. from investing activitie$ 2,964 1,432 Iyet (decrease) l increase in cash and cash equii'alents (100,653) 1.400,000 Casb and cash equivalenls at l April 2023 1,400,0(KI Casb and Cash equivalents at 31 March 2024 1,299J47 1,400,000 Ca5b and cash equivalenls consists of: Cash at bank and in hand 1299,347 1,400,000 Cash and cash equivalents at 31 March 2024 1299,347 1,400,000 Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 12-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of accounting Genesys Legacy Project Ltd is a charitable company litllited by guarantee and is incorporated in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per tneii)ber of the charity. The address of the registered office is giTren in the charity information on page 3 of these financial statements. Th¢ charity constitut¢s a public bcn¢fit cntity as dcfined by FRS 102. Thc financial statcmcnts have been prepared in accordance with Accounting aiid Reporting by Charities.. Statement of Rccoinmcnd¢d Practice applicabl¢ to charitl¢s pr¢pariiig th¢ir accouiits in accordancc witli the Financial Reporting Staiidard applicable in the UK and Republic of Ireland issued in October 2019, thc Financial R¢porting Standard applicablc in thc Unit¢d Kin¥dotll and R¢publiL of Ir¢land (FRS 102), the Charities Act 201 l. the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going ¢oncern basis underthe historical cost ¢onvention, modified ti) include certain il¢iiis ai fair value. The finan¢ial statements are pr¢sented in sterling which is the functional currency of the charity and rounded to the nearest £000. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been Consistentl applied to all years presented unless othem'ise stated. Funds strueture Unrestricted tunds are available for use at the discretion of the trustees in furtherance of the general objectives ot the charity and which have not been designated tor other purposes. Incomillg resources All incoming resources are included in the Statement of Financial Activities {SoFA) when the charity is legally entitled to the income after any perforniance conditions have been Iiiet, the amount can be Ineasured reliabl}, and it is probable that the income will be received. For donations to bc recogniscd the charity will hai'c bccn notifi¢d of thc attTrounts and th¢ scttlcmcnt date in writing. If thcre are conditions attached to the donation and thi5 rcquires a level of perfortllanL¢ b¢forc cntitl¢m¢nt Lan b¢ ubtaincd thcn incom¢ is d¢f¢rr¢d until those Londitions ar¢ fully tnct or thc fulfilmcnt of thosc conditions is within the control of the charity and it is probablc tliat they will be fulfillcd. Investment income is earned through holding assets for inTrestment purposes. It includes interest in¢om¢. Interest income is r¢cognised using ihe err¢¢live int¢r¢sl m¢ihod. Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 13-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Resourees expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised w'here there is a legal or constriictive obligalion to tnake payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity tor which expenditure arose. Donations payable lo third parties ar¢ within the charitable obje¢tiv¢s. Where un¢onditional donations are offered, this is accrued as soon as the recipieiit is notified of the donation, as this gives ris¢ to a reasonable ¢xpe¢lation that the recipieiit will rec¢ive th¢ funds. Where donalii)ns are condilional relating to perfomance theii the donation is only accrued when an), unfulfilled conditions are outside of the control of the Lharity. Support costs allocation Support COSts arc thosc that assist th¢ work of th¢ charity but do iiot dircctly r¢prcscnt charitable activitics and include ofyice costs, governance costs. These are incurred directly in 5UPPOrt of expenditure on the objects of the charity. Financi#l Instrllments The Charity onl), holds basic Financial Instruments. The financial assets and tinancial liabilities of the Charity are as follows: Debtors and creditors with no stated interest rate and receivable or payable ivithin one year are recorded at transaction price. Any losses arising trom impaim)ent are recognised in expenditure. Cash at bank- is classified as a basic financial instrument and is measured at tace value. Tax The charity is ali exempt Charity within the meaning of schedule 3 of the Charities Act 201 l and is considered to pass the tests set out in Paragraph I SLh¢dul¢ 6 Finance Act 201 O aiid th¢ttfore it mccts thc definition of a charitabl¢ company for UK corporatioii tax purposcs. Going coneern The financial 5tatenients have been prepared on a going concern basi5 as the trustees believe that no material uncettsinties exist. The trustees have considered the level of funds held and the cxpcctcd Icvcl of income and cxpcnditurc for 12 tnonths frotn authorising these financial statem¢nts. The budget¢d ii)come and expenditure is sufficient with the lei'el of reseNes for the charity to be able to continue as a going concern. Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 14-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2024 INCOME FROM DONATIONS Unrestricted Total Funds Total Funds Funds 2024 2023 Donations 500,000 500,000 1,500,000 500,000 500,000 1.500,000 INCOME FROM INVESTMENTS Unrestrieted Total Fllnds Total Funds Funds 2024 2023 Interest- deposits 2,964 2,964 1,432 COSTS OF CHAIUTABLE ACTIVITIES BY FUND TYPE Unrestricted Total Funds Funds 2024 Total Funds 2023 Donations Support costs 594.000 8212 594,000 8,212 100,000 7,200 602212 602,212 107.200 SUPPORT COSTS Unrestricted Total Funds Total Funds Funds 2024 2023 Office costs Govemance costs 712 7,500 712 7,500 7,200 8,212 8,212 7,200 GOVERNANCE COSTS Unrestrieted Total Funds Total Funds Funds 2024 2023 Accountancy fees Auditor s remuneration 2,100 5,400 2,100 5,400 1,800 5,400 7,500 7,500 7,200 Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 15-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2024 AUDITOR'S REMUNERATION The auditor's remuneration aii)ounts to an audit fee of £5,400 (2023.. £5,400), and other non-audit services of £2,100 (2023.. £1.800). STAFF COSTS AND EMOLUMEI¥4TS The average number of employees during the year. calculated on the basis of full-time equivalents, was as Nil (2023.. Nil). Key Management Personnel Th¢ charity is tna]iagcd by the trustccs and does not hav¢ any other key staff. No rctnuiicration was paid to the trustees during the year or prior year. DEBTORS 2024 2023 Other debtors 2037 1,432 2037 1,432 10. CREDITORS: Amounts falling due Ivithin one year 2024 2023 Other creditors 7200 7,200 7200 7,200 11. UNRESTRICTED FUNDS General funds 2024 Total 2024 Total 2023 At l April 2023 Income Exp¢nditiir¢ At 31 March 2024 lJ94,232 lJ94,232 502,964 502,964 (602,212) (602,212) 1294,984 1,294,984 1,501,432 (107,200) 1,394,?32 Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 16-
GENESYS LEGACY PROJECT LTD (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2024 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds 2024 Unrestricted funds 2023 Current assets Creditors due within one year Total 1,302,184 (7,200) 1294,984 1,401,432 (7,200) 1.394,232 13. RECONCILIATION OF TrIET ILYCOME TO f4ET CASH FLOW FROLVI OPEIL4TING ACTIVITIES 2024 2023 Net income for year Interest receiN'able Increase in debtors Increase in creditors (99248) (2,964) (1,405) 1,394,232 (1,432) (1,43?} 7,200 Net cash flow. from operating activities {103,617) 1,398.568 14. RELATED PARTY TIL4NSACTIONS During th¢ ycar. tlic charity rec¢iv¢d doiiations totalling £500.000 (•0•3- £1.500,000} from Genesys Biotech Ltd, a cotllpany iii which tlie trustees arc also dircctors. Thè notès on pagès 13 to 17 form part of thèsè finaneial stat•m•nts. 17-