**Charity number: 1204485**
## **WEST END CALLING**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **WEST END CALLING**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Chairman's Statement**|2|
|**Trustees' Report**|3 - 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 15|
## **WEST END CALLING**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Trustees**|Mark Garry Collier, Chair|
|---|---|
||Stephenson Ardern-Sodje (appointed 4 September 2025)|
||Reece Fitzgerald (appointed 4 September 2025)|
||Charlotte Elizabeth Levy|
||Hollie Taylor|
|**Charity registered**
**number**
1204485
**Principal office**
77 Bonchurch Road
Brighton
BN2 3PJ
**Chief executive officer**
Alex James Ellison
**Accountants and**
**independent examiner**
Martin Bailey FCA
Goodman Jones LLP
1st Floor Arthur Stanley House
40-50 Tottenham Street
London
W1T 4RN||
Page 1
## **WEST END CALLING**
## **CHAIR'S STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025**
2025 saw strong growth for West End Calling across a number of areas: entries more than doubled from last year to 1,100 young people, we travelled to 4 more cities making a total of 13 and we were able to offer around 100 bursary places. This indicates how we are now able to reach a greater number of young people and help them to build skills in the arts, develop their confidence and meet other aspiring performers. Engagement in our social media channels has also increased, and West End Calling now has around 27,000 followers across Instagram and TikTok.
This year, winners recorded an EP which was a popular prize, and we have been very pleased to be able to offer contestants even more experiences and opportunities like this. 1:1 sessions with professional performers were offered for semi-finalists and finalists, every performance was filmed, separate finals were held for juniors, teens and seniors and West End Calling hoodies have been introduced.
It has been very gratifying to witness the positive impact that the Charity is having on young people, and we have been delighted to see a number of alumni working professionally; a 2024 finalist was even flown out to New York to deliver a Ted Talk! Looking forward, we are going to be recruiting a Competition Administrator to help with the increased demand and work load that comes with the above growth.
All in all, an excellent year for the Charity!
Mark Collier Date: `05-08-26`
Page 2
## **WEST END CALLING**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
The Trustees present their Annual Report together with the financial statements of the West End Calling for the year 1 September 2024 to 31 August 2025.
## **Objectives and activities**
## **a. Policies and objectives**
The Charity was established to advance education through participation in the performing arts, with a particular focus on providing young people with opportunities to participate in musical theatre.
The Charity also seeks to develop the skills, capacities and capabilities of young people to enable them to participate in society as independent, mature and responsible individuals.
In furtherance of these objectives, the Charity aims to provide opportunities for participation in musical theatre productions, workshops, rehearsals, and related educational activities that support personal development, teamwork, confidence building and artistic achievement.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **a. Activities in the period**
This was the Charity's second period of operation following registration in August 2023.
During the period, the Charity organised and delivered a national musical theatre competition for young people. Auditions and showcase events were held across multiple locations throughout the United Kingdom, providing participants with opportunities to develop their performance abilities, confidence and creativity. Over 1,100 young people took part in the competition.
The Charity also delivered workshops and educational activities designed to enhance participants' musical theatre skills and broader personal development. Through participation in these activities, young people were able to improve performance techniques, communication skills, teamwork and self-confidence.
The Charity sought to ensure accessibility through the provision of bursary support to a number of participants, helping to remove financial barriers to participation in the programme.
## **Financial review**
## **a. Going concern**
The financial statements have been prepared on a going concern basis.
The Charity reported net liabilities at the period end due to initial set up costs in the first period of operation. The Trustees have considered the future plans of the Charity, and have reviewed expected future income, expenditure, and cash flow, as well as the continued support available to the Charity from the founder. Consequently, the Trustees believe that the Charity has adequate resources to continue operating for the foreseeable future and consider the going concern basis of accounting appropriate.
Page 3
## **WEST END CALLING**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **b. Reserves policy**
The Trustees recognise the importance of maintaining adequate reserves to safeguard the continuity of the Charity's activities and to provide protection against unforeseen circumstances.
This was the Charity's second period of operation and whilst it incurred a deficit for the period this was significantly reduced from the deficit in the prior period (when significant set up costs were incurred). The Trustees will seek to build reserves through future operating surpluses and fundraising activities, and intend to establish a formal reserves target as the Charity's financial position develops.
## **c. Deficit**
Income for the period was £94,713 (2024: £30,411) and expenditure was £99,451 (2024: £62,663), giving rise to a deficit for the period of £4,738. This is a significant improvement on the £32,251 deficit in the first period.
Reserves at the balance sheet date were in deficit at £36,989 (2024: £32,251) and all relate to unrestricted funds.
## **Structure, governance and management**
## **a. Constitution**
West End Calling is a registered charity, number 1204485, and is constituted as a Charitable Incorporated Organisation under a CIO - Foundation constitution dated 25 August 2023.
## **b. Methods of appointment or election of Trustees**
Trustees are appointed in accordance with the provisions of the Charity's governing document.
The Trustees are responsible for the overall strategic direction and governance of the Charity. Day-to-day operations are delegated to the Chief Executive Officer, who manages the delivery of activities, operational planning, stakeholder engagement, marketing, and administration. The Trustees meet regularly and maintain ongoing communication with the Chief Executive Officer to monitor performance and oversee the Charity's activities.
Page 4
## **WEST END CALLING**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO - Foundation constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Mark Garry Collier** Chair of Trustees
Date: `05-08-26`
Page 5
## **WEST END CALLING**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
## **Independent Examiner's Report to the Trustees of West End Calling ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2025.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: `05-08-26`
**Martin Bailey FCA** Goodman Jones LLP 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Page 6
**WEST END CALLING**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Income from:**
Charitable activities
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**Year ended**
**31 August**
**2025**
**£**
**94,713**
**94,713**
**99,451**
**99,451**
**(4,738)**
**(32,251)**
**(4,738)**
**(36,989)**|**Total**
**funds**
**Year ended**
**31 August**
**2025**
**£**
**94,713**
**94,713**
**99,451**
**99,451**
**(4,738)**
**(32,251)**
**(4,738)**
**(36,989)**|_Total_
_funds_
_Period ended_
_31 August_
_2024_
_£_
_30,411_
_30,411_
_62,662_
_62,662_
_(32,251)_
_-_
_(32,251)_
_(32,251)_|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
Page 7
## **WEST END CALLING**
## **BALANCE SHEET AS AT 31 AUGUST 2025**
|**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
10
**Net current liabilities**
**Total assets less current liabilities**
**Net liabilities excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|**4,088**
**4,088**
**(41,077)**|**2025**
**£**
**-**
**(36,989)**
**(36,989)**
**(36,989)**
**(36,989)**
**-**
**(36,989)**
**(36,989)**|_2,671_
_2,671_
_(34,922)_|_2024_
_£_
_-_
_(32,251)_
_(32,251)_
_(32,251)_
_(32,251)_
_-_
_(32,251)_
_(32,251)_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ **Mark Garry Collier** Chair of Trustees
## Date: `05-08-26`
The notes on pages 9 to 15 form part of these financial statements.
Page 8
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **1. General information**
West End Calling is a Charitable Incorporated Organisation (CIO) registered in England and Wales with the Charity Commission under charity number 1204485. The Charity's principal office is at 77 Bonchurch Road, Brighton, BN2 3PJ.
The Charity's objective is the advancement of education through participation in the performing arts and the development of the skills, capacities, and capabilities of young people.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
West End Calling meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements have been prepared in Sterling, the functional currency of the Charity, and monetary amounts have been rounded to the nearest £.
## **2.2 Going concern**
The Charity reported net liabilities at the balance sheet date predominately due to initial set up costs in the first period of operation. The Trustees have considered the future plans of the Charity, and have reviewed expected future income, expenditure, and cash flow, as well as the continued support available to the Charity from the founder. Consequently, the Trustees believe that the Charity has adequate resources to continue operating for the foreseeable future and consider the going concern basis of accounting appropriate.
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Page 9
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.4 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Ticket sales are recognised when the corresponding performance or event takes place.
Membership fees are recognised in the period to which the membership relates.
## **2.5 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 10
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Trustees have not identified any estimates or assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**Year ended**
**31 August**
**2025**
**£**
Competition entry fees and participation income
41,390
Ticket sales
53,323
94,713|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**41,390**
_13,655_
**53,323**
_16,756_
**94,713**
_30,411_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**41,390**
_13,655_
**53,323**
_16,756_
**94,713**
_30,411_|
|---|---|---|
|||_30,411_|
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
||**Unrestricted**|||
|---|---|---|---|
||**funds**|**Total**|_Total_|
||**Year ended**|**Year ended**|_Period ended_|
||**31 August**|**31 August**|_31 August_|
||**2025**|**2025**|_2024_|
||**£**|**£**|_£_|
|Musical theatre competitions|99,451|**99,451**|_62,662_|
Page 11
## **WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **6. Analysis of expenditure by activities**
|Musical theatre competitions
_Total 2024_|**Activities**
**undertaken**
**directly**
**Year ended**
**31 August**
**2025**
**£**
90,117
_44,810_|**Grant**
**funding of**
**activities**
**Year ended**
**31 August**
**2025**
**£**
600
_250_|**Support**
**costs**
**Year ended**
**31 August**
**2025**
**£**
8,734
_17,602_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**99,451**
_62,662_
_62,662_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**99,451**
_62,662_
_62,662_|
|---|---|---|---|---|---|
|||||||
## **Analysis of support costs**
|Advertising
Legal Fees
Marketing
Insurance
Software
Miscellaneous
Accountancy|**Activities**
**Year ended**
**31 August**
**2025**
**£**
964
-
1,425
473
596
656
4,620
8,734|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**964**
_3,472_
**-**
_7,106_
**1,425**
_776_
**473**
_355_
**596**
_560_
**656**
_713_
**4,620**
_4,620_
**8,734**
_17,602_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**964**
_3,472_
**-**
_7,106_
**1,425**
_776_
**473**
_355_
**596**
_560_
**656**
_713_
**4,620**
_4,620_
**8,734**
_17,602_|
|---|---|---|---|
||||_17,602_|
Page 12
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **7. Analysis of grants**
|Bursaries to competitors
_Total 2024_|**Grants to**
**Individuals**
**Year ended**
**31 August**
**2025**
**£**
600
_250_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**600**
_250_
_250_|**Total**
**funds**
**Year ended**
**31 August**
**2025**
_Total_
_funds_
_Period ended_
_31 August_
_2024_
**£**
_£_
**600**
_250_
_250_|
|---|---|---|---|
|||||
## **8. Independent examiner's remuneration**
||**Year ended**|_Period ended_|
|---|---|---|
||**31 August**|_31 August_|
||**2025**|_2024_|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**3,600**|_3,600_|
|Fees payable to the Charity's independent examiner in respect of:|||
|Taxation fees|**1,020**|_1,020_|
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 August 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
## **10. Creditors: Amounts falling due within one year**
|Other loans
Accruals and deferred income|**2025**
**£**
**31,837**
**9,240**
**41,077**|_2024_
_£_
_30,302_
_4,620_|
|---|---|---|
||||
|||_34,922_|
Page 13
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
|**11.**
**Statement of funds**
**Statement of funds - current year**
**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Balance at 1**
**September**
**2024**
**£**
**(32,251)**|**Income**
**£**
**94,713**
_Income_
_£_
_30,411_|**Expenditure**
**£**
**(99,451)**
_Expenditure_
_£_
_(62,662)_|**Balance at**
**31 August**
**2025**
**£**
**(36,989)**
_Balance at_
_31 August_
_2024_
_£_
_(32,251)_|
|---|---|---|---|---|
## **12. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Current assets
4,088
Creditors due within one year
(41,077)
**Total**
(36,989)|**Total**
**funds**
**2025**
**£**
**4,088**
**(41,077)**
**(36,989)**|
|---|---|
Page 14
**WEST END CALLING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **12. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_2,671_
_(34,922)_
_(32,251)_|_Total_
_funds_
_2024_
_£_
_2,671_
_(34,922)_
_(32,251)_|
|---|---|---|
## **13. Related party transactions**
At the balance sheet date, the Charity owed an amount of £31,837 (2024: £30,302) to Alex Ellison, the Chief Executive Officer, in respect of expenditure paid personally on behalf of the Charity.
The Chief Executive Officer owns the trademark for "West End Calling" in their personal name and has permitted the Charity use of the trademark free of charge. The Trustees do not consider it possible to determine the market value of the right of use of the trademark, and such it is not recognised as an asset in the Charity's financial statements.
Except as disclosed above or elsewhere in these financial statements, there were no other transactions with related parties requiring disclosure.
Page 15