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2023-12-31-accounts

Charity registration number 1202928

Company registration number 13944207 (England and Wales)

THE JOBS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE JOBS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Lady S Anstruther-Gough-Calthorpe
N A Baxter
S Boyd (Appointed 19 June 2023)
D S A Chakravarty
N A Gamester
V Hewson
C A Jolly
A A Rankin Frost (Appointed 9 July 2024)
M G C Webster
Senior management G Bristol Chief Executive Officer
Charity number 1202928
Company number 13944207
Registered office 33 Cannon Street
City of London
EC4M 5SB
Independent examiner Rogers Spencer
Newstead House
Pelham Road
Nottingham
NG5 1AP
Bankers Barclays Bank UK Plc
1 Churchill Place
London
E14 5HP

THE JOBS FOUNDATION

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 14

THE JOBS FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Jobs Foundation is a charity that offers practical assistance to businesses as they move people from poverty into prosperity through ethical employment practices. We see businesses and the jobs and training they offer as an effective tool for alleviating poverty and unemployment.

Our charitable objects, embedded in our Memorandum of Association, are as follows:

To prevent and relieve poverty and relieve unemployment by:

(a) educating and training employers on ethical recruitment and training practices (by developing and overseeing the delivery of tailored training programmes) with the aim of improving employment attainment; social mobility and long-term sustainable employment;

(b) encouraging and fostering ethical recruitment and training practices amongst member organisations (being employers that have committed to adopting ethical recruitment and training practices). To advance the education of the public in subjects relating to ethical recruitment and training practices and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large; and

(c) such other purposes as are exclusively charitable.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

THE JOBS FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Phase 1: May 2023 to September 2023

In May 2023 the Jobs Foundation received charitable status, allowing us to embark on our mission to offer practical assistance to businesses as they move people from poverty into prosperity through ethical employment practices. This allowed us to launch our website, factbook report and launch video, showcasing the valuable nature of jobs for people in hardship, and businesses who are a force for good.

To help support the Jobs Foundation’s mission we recruited an Advisory Council of supporters from a range of different business sectors, sizes and regions of the UK, to showcase the broad range of business supporters supportive of the Jobs Foundation mission.

To mark our inception, we formally hosted an in-person launch event in September 2023 at the Royal Society of Arts. The RSA’s Chief Executive, Andy Haldane, and the (then) Secretary of State for Education Gillian Keegan (who was also responsible for apprenticeships), were our keynote speakers. We were delighted to be joined by a host of business leaders, supporters and people in the media.

Phase 2: October 2023 to date

We are currently in the process of completing Phase 2 – building the platform to allow us to successfully execute our mission, by providing the foundations for our future work to move people from poverty and unemployment into long-term work with training opportunities.

Phase 2 is rooted in a three-pronged approach:

All three of these objectives are inextricably linked. Our Business Council supporters are already feeding into our research programme, giving us examples and evidence about how they have contributed to alleviating poverty and unemployment, whilst also sharing with us the policy changes they would like to see to allow them to do even more to help their local communities. This research will also feed into the practical recommendations we will give businesses in Phase 3 (beginning in January 2026), where they will be able to learn from ‘best practice’ businesses who have been exemplars in helping people in hardship with work and training.

Touching on each of these in more detail:

A - Recruiting our Business Council

Our growing Business Council is at the very heart of the Jobs Foundation, being both the driving engine and the delivery vehicle for our charitable mission. We are in the process of recruiting a coalition of over a thousand business leaders, across all types and sizes of business, from all sectors of the economy, and in all the nations and regions of the UK.

Our Business Council is a voluntary coalition – membership is private, there is no fee to join, and it comes with no formal obligations or requirements. All we ask from our supporters is that they share our belief that business is a force for good and that they will work with us to advance our mission in their local communities, especially through providing us with best practice examples of where businesses, through employment and training, have significantly contributed to alleviating poverty.

THE JOBS FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

In time, we will provide a more formalised programme of communication and networking opportunities for Business Council members, in the form of:

Joining the Business Council is so much more than simply signing up to a mailing list. We are actively building personal relationships with each and every one of our members, whether that be through our events programme, through online video catchups, or by visiting them at their offices and factories. We want every member to feel an active participant in our journey because we cannot achieve our charitable mission without their help.

We have already begun to draw on the depth of experience of our Business Council members to fuel our charitable mission. We provide direct resources to our members through our monthly newsletter to help provide them with ideas and knowledge to employ and train more people, as well as spread knowledge on best practice on recruitment and training. This includes spotlight sections on businesses and entrepreneurs who have positively contributed to social mobility, as well as a resource section which includes links to other businesses and social enterprises which are particular examples of best practice.

We have also hosted events, both online and in person, where we have welcomed hundreds of business leaders from across the country to spread knowledge, awareness and best practice on a range of topical issues. This includes how to improve workplace resilience, how to support female entrepreneurship, and the importance of apprenticeships for social mobility. We have received extremely positive feedback from attendees, with guests stating that these events have offered them fresh insights and perspectives on how they as business leaders can improve their own employment and training schemes in order to generate more high-quality jobs and training opportunities for existing employees.

We have been particularly excited to see our Business Council coalition naturally expand into a movement where business leaders have begun to proactively offer their support, time, and resource into supporting our charitable mission. For example, members have volunteered to host workshops, connect us with other charities and social enterprises that share our broad ambitions, and share our content with other likeminded businesses. We’re keen to expand on this as we continue to grow our coalition.

THE JOBS FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

B - Publishing our foundational research

The second element of our Phase 2 strategy is our foundational research, which is due to launch at the end of October 2024 and is provisionally entitled Two Million Jobs: Lessons on the crucial role played by businesses in helping people from welfare into work .

This ambitious research project is being led by our Senior Policy Advisor, Nick Tyrone, and focuses on four areas: a city (Sheffield), a town (Loughborough), a coastal town (Hartlepool) and a rural community (Pembrokeshire). We purposefully selected four distinct areas to give us a granular insight into both the varied nature of poverty in the UK, and business seeks to address this.

The report more broadly will explore the following areas: (a) examples of 'best practice' businesses and their work on the ground recruiting and training people from disadvantaged backgrounds; (b) how businesses help people out of poverty routinely, without specific schemes, and (c) the conditions required by businesses to grow and do even more good for their local communities.

Only by speaking to hundreds of local SMEs across the country, have we begun to thoroughly understand both the varied nature of poverty across the country and the crucial role that business plays in alleviating poverty and hardship through jobs and training opportunities. This listening exercise is giving us the knowledge to know how best to support the business community in moving people from poverty into prosperity.

C - Understanding the policy conditions that business needs to thrive

Our third objective for 2024 is to properly understand from businesses both in our Business Council and beyond what policy conditions they need to thrive and create jobs. If jobs are the best route out of poverty, and businesses create the vast majority of jobs in the economy, we need to properly understand the policy conditions they need to grow, so they can do even more good work for their local communities.

Fundraising practices

The Jobs Foundation is entirely independent of any political party or group and is funded by a broad base of voluntary donations from individuals, companies and foundations who want to support its work.

Supporters are rigorously checked to ensure that donations have been vetted and approved according to our strict internal policies.

Financial review

Total income for the year was £477,842 (2022: £326,801) and total expenditure was £489,161 (2022: £306,824). The financial statements, together with the notes thereto, expand on these outline details.

The Board of Trustees regularly review the amount of donations. We are grateful to all our donors for supporting our work.

Reserves policy

Since the Jobs Foundation formally launched in September 2023, it has set itself the ambition to have a threemonth monthly run rate reserve policy, in order to give the organisation a strong financial foundation.

This is something the charity is still working towards having on a consistent basis, as it balances this objective with the need to take on additional personnel to achieve its mission.

The Trustees are happy with the expanding pipeline of income from individuals, businesses and charitable foundations and we are grateful to all of them for their support.

Structure, governance and management

The Jobs Foundation is a charitable company limited by guarantee. The Foundation was granted charitable status in May 2023 and formally launched in September 2023. It was set up under a Memorandum of Association which sets out its objects and powers and is governed under its Articles of Association. It is a registered charity No. CC/ 1202928.

THE JOBS FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Lady S Anstruther-Gough-Calthorpe

N A Baxter

S Boyd (Appointed 19 June 2023) D S A Chakravarty N A Gamester V Hewson C A Jolly A A Rankin Frost (Appointed 9 July 2024) M G C Webster

Recruitment and appointment of trustees

The Jobs Foundation has built a strong board of trustees with a range of skills to support the charity’s mission, combining legal, charitable, policy and business experience.

All our trustees are dedicated to supporting the Jobs Foundation's work in supporting people move from poverty and unemployment into work, supported with great training, through their combined knowledge, talent, and dedication to the work of the organisation.

The Jobs Foundation is managed by Georgiana Bristol (Chief Executive) and Matthew Elliott (President), who are jointly responsible for all aspects of its affairs and are responsible for achieving its goals. They both report four times a year to the Board of Trustees, with Nathan Gamester in the role as Chair of the Trustees. All trustees give their time voluntarily and receive no benefits from the charity.

The trustees' report was approved by the Board of Trustees.

..............................

N A Gamester

Trustee

Date: .............................................

THE JOBS FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JOBS FOUNDATION I report to the truslees on my examinalion of th8 financial statements of The Jobs F¢)undatiDn (the carity) for the yeBr eThJed 31 Decamber 2023. Responslbilltio¥ and bo5is of r•port As th8 truslé8s of the charty land also ks dlrecloTS for the purposes of company lawl you are responsible for the prep8rati)n of the financial statements in acC￿lan￿ with the requir8mants of the Companles Act 2006 lthe 2006 Havlng salisfled my3elf that the finan(#al ststerrents of the charity ar8 not required to be audltod under Part 16 of Ihe 20(6 Acl and are eligible for independent examinalKJn. I report In respect of my examination of the charty's financial statements carried out under sectlon 145 of the Charities Act 2011 (the 2011 Acll. In carrylng oul my ex8rninaon I have followed all the applicable Directions given by the Charity Co￿lSsion under section 145(5llbl of the 2011 ACL Independent examlnerfs statem¢nt Sln¢e the charitys gross income excèèded £250,000 your examiner must be a member of a body lisled in section 145 of the 2011 Art l ￿>nfIrM that l am qualffled to undertake the examination b8causè l am a member of the Inslitute of Charteted A(￿untants in England 3nd W8les, which is one of the li$led bodtes. I have completed my ex8mlnatMJn. I conflmi that no matters h8ve come to my 81tsnllon in connecllon with the examlnafjon glmng me cause lo believe th91 in 8ny material respect.. acttjunbng record3 were not k8pt in respect of the charity as wulr&J by 58cion 386 of the 2006 Act,. or the finan¢i81 stslemenls do not accord with thckqe records-, or th8 financiql st8lements do not (x)mpty ￿ Ihe accounllng requirements of sectlon 3￿ of the 20(￿ Ad other than 8ny requirement that the accounts give 8 true and falr vlew whith is not a matter consKYered as part of an irKlependent examination,. or the finan￿al statements have not been prepar&J in a￿OrdanCe with the meth￿8 and prin￿p￿S of the Statement of Rec(nmended Practi￿ for accounthng and reporting by ch8rtties applicab￿ to tharities preparing their accounts in accofdance wlth the Financial Reportino Stsndard applicable In the UK and Republlc of Ireland IFRS 1021. I have no concerns and have co￿￿ xross no olher rnatte￿ in connection with the oxamination to vknith attenti shou￿ be drawn In Ihls order to èn8ble 8 proper undarstanding of thg finanual stslements to be r88ch8d. Molvln 8all•y FCCA DChA for and on behall of RDJer5 Spencer Newstead House Pelham Road Nottingham NGS IAP Daled..

THE JOBS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 477,842 326,801
Total income 477,842 326,801
Expenditure on:
Charitable activities 4 489,161 306,824
Total expenditure 489,161 306,824
Net income/(expenditure) and movement in funds (11,319) 19,977
Reconciliation of funds:
Fund balances at 1 January 2023 19,977 -
Fund balances at 31 December 2023 8,658 19,977

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE JOBS FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023
Notes
£
Fixed assets
Tangible assets
10
Current assets
Debtors
11
28,250
Cash at bank and in hand
18,201
46,451
Creditors: amounts falling due within
one year
12
(38,283)
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
14		 2022
£
£
490
-
30,863
30,863
(12,054)
8,168
8,658
8,658
8,658		 £
1,168
18,809
19,977
19,977
19,977

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

24th Sept 24

The financial statements were approved by the trustees on .........................

.............................. N A Gamester Trustee

Company registration number 13944207 (England and Wales)

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The Jobs Foundation is a charity, limited by guarantee in England & Wales, that offers practical assistance to businesses as they move people from poverty into prosperity through ethical employment practices. We seek to ensure Britain is a place where businesses can flourish so they are an effective tool for alleviating poverty and unemployment.

The registered office is 33 Cannon Street, City of London, EC4M 5SB,

On 3 May 2023, The Jobs Foundation was granted charitable status.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

2 Years Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 477,842 326,801
4 Expenditure on charitable activities
Total Total
2023 2022
£ £
Staff costs 158,296 79,334
Depreciation and impairment 678 188
Rent 34,591 18,591
Printing & stationery 4,888 1,523
Subscriptions 527 -
Computer expenses 3,977 1,822
Telephone 12 288
Bank charges 86 26
Sundry expenses 38 186
Legal fees 4,435 36,873
Accountancy 12,400 5,250
Recruitment expenses 148,269 39,242
Polling costs 9,720 59,160
External research 1,023 -
Management & consultancy fees 94,129 64,341
473,069 306,824
Share of governance costs (see note 5)
Governance 16,092 -
489,161 306,824
Analysis by fund
Unrestricted funds 489,161 306,824
5 Governance costs
2023 2022
£ £
Accountancy fees 16,092 -

The above includes £2,700 (2023: £nil) with regard to independent examination fees.

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 678 188

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,000 to £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2023
Number
3
2023
£
144,663
12,253
1,380
158,296
2023
Number
1
2023
£
66,667		 2022
Number
1
2022
£
74,500
3,843
991
79,334
2022
Number
-
2022
£
-

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

10
Tangible fixed assets
Cost
At 1 January 2023
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
11
Debtors
Amounts falling due within one year:
Other debtors
12
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
13
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 Fixtures and
fittings
£
1,356
1,356
188
678
866
490
1,168
2023
2022
£
£
28,250
-
2023
2022
£
£
8,664
2,991
25,125
8,806
294
257
4,200
-
38,283
12,054
2023
2022
£
£
1,380
991		 Fixtures and
fittings
£
1,356
1,356
188
678
866
490
1,168
2023
2022
£
£
28,250
-
2023
2022
£
£
8,664
2,991
25,125
8,806
294
257
4,200
-
38,283
12,054
2023
2022
£
£
1,380
991
1,356
188
678
866
490
1,168
2022
£
-
2022
£
2,991
8,806
257
-
12,054
2022
£
991

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

THE JOBS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
19,977
477,842
(489,161)
8,658
January
2022
Incoming
resources
Resources
expended
At 31
December
2022
£
£
£
£
-
326,801
(306,824)
19,977

15 Analysis of net assets between funds

Unrestricted
funds
2023
£
At 31 December 2023:
Tangible assets 490
Current assets/(liabilities) 8,168
8,658
Unrestricted
funds
2022
£
At 31 December 2022:
Tangible assets 1,168
Current assets/(liabilities) 18,809
19,977

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).