**Charity number: 201460** ## **Merton United Charities** **Trustees' report and financial statements** **for the year ended 31 March 2024** ## **Merton United Charities** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 17| ## **Merton United Charities** ## **Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 March 2024** ## **Trustees** Rev John Hayward, Chair1 Astrid Spencer, Treasurer (appointed 4 December 2023)3 Derek Cox, Treasurer (resigned 2 December 2024)2 Stephanie Hitchins3 Edward Foley3 Cathy Loughran3 Hannah Constantine (appointed 2 December 2024)2 Rebecca Dalton (appointed 2 December 2024)2 Ronald Dominy (resigned 2 December 2024)2 > 1 Ex Officio - 2 Co-opted Trustee > 3 Nominated Trustee ## **Charity registered number** ## 201460 ## **Principal office** The Vicarage St Mary the Virgin Church Path London SW19 3HJ ## **Principal operating office** 49 Tybenham Road London SW19 3LB ## **Accountants** Kreston Reeves LLP Chartered Accountants Montague Place, Quayside Chatham Maritime, Chatham Kent, ME4 4QU ## **Independent Examiners** Samantha Rouse FCCA DChA Kreston Reeves LLP Montague Place, Quayside Chatham Maritime, Chatham Kent, ME4 4QU Page 1 ## **Merton United Charities** ## **Trustees' report** ## **for the year ended 31 March 2024** The Trustees present their annual report together with the financial statements of the Charity for the year from 1 April 2023 to 31 March 2024. ## **Objectives and activities** ## **a. Policies and objectives** The Charity owns an almshouse containing six one-bedroom flats, providing accommodation restricted by the governing document to “poor women who have resided in the area of benefit (London Borough of Merton) for not less than two years preceding the time of their appointment”, with preference given to women who live in the former Parish of Merton. The Trustees are required to apply the income of the Charity firstly to maintaining the almshouse and secondly to reduce the need, hardship of, in the order of priority: 1. For the benefit of Residents of the Almshouse; 2. For the benefit of the poor of the former Parish of Merton; 3. For the benefit of the poor of the London Borough of Merton. The Trustees’ primary aim is to continue improving the financial position of the Charity in order to ensure the Almshouse is fully maintained to a high standard and in full compliance with latest standards and suitable for continuing use by Residents who are capable of living without 24 hour care. 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. Review of activities** The Almshouse was extensively refurbished and modernised in the mid-1990's, though, due to financial constraints, this was achieved to a basic standard. Within the last five years or so, further refurbishment was undertaken as funds became available, when kitchens and bathrooms were replaced and each unit was provided with new floor coverings. The flats were redecorated and the electrical installations were updated to latest standards. The Charity has been able to meet all its financial commitments over the year including gardening and maintenance works throughout the Almshouse, whilst continuing to establish healthy designated reserves. The Trustees continue to meet a minimum of four times per year and undertake pastoral and other duties in addition. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2 ## **Merton United Charities** ## **Trustees' report (continued) for the year ended 31 March 2024** ## **b. Reserves policy** As previously noted, after a period of economic stagnation resulting in minimal maintenance, the Almshouse was extensively modernised and refurbished in the mid-1990's, modernisation and routine maintenance more recently. The Trustees have considered the level of reserves they need to enable them to meet their objectives, which is to maintain the property to a high standard, including further refurbishment, repair, redecoration as considered necessary. They further consider funds are accumulating at a rate appropriate to meeting this objective and have set up designated funds to cover routine, cyclical and planned maintenance & improvement requirements for a building partly of eighteenth century origin. At the Balance sheet date, after taking into consideration the tangible fixed assets and the fixed asset investments, the Charity has free reserves amounting to £79,389 (2023: £78,960). ## **c. Results for the year** During the year the Charity has achieved a surplus of £27,703 (2023: £26,320), after receiving income totalling to £44,386 (2023: £46,773) and expending only £18,957 (2023: £17,832). This led to the overall level of funds increasing from £255,634 at the end of the previous financial year, to £283,337 as at 31 March 2024. ## **Structure, governance and management** ## **a. Constitution** The Charity is constituted under a trust deed, made in 1907, amended and sealed by Order of the Charity Commissioners dated 27 April 1995, is a registered charity number 201460 and is registered with the Almshouse Association. ## **b. Methods of appointment or election of Trustees** The Body of Trustees consists of: One Ex-Officio Trustee being the current incumbent of St Mary the Virgin. Two Nominated and four Co-opted Trustees, who are either resident or work in the area of benefit. Trustees are nominated by the London Borough of Merton. Trustees are Co-opted by the Body of Trustees and are usually Church members. ## **c. Risk management** The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The main risks the Charity faces are: the loss of its residents, resulting in a decrease in the income from social housing lettings; and fluctuations in the value of its listed investments. ## **Plans for future periods** The Trustees will continue to support the objectives of the Charity for the foreseeable future. Page 3 Merton United Charltlas Tru5tees' r•port Icontinuedl for the year ènded 31 March 2024 ststemont of Trustees. rgsponslbllltlos The Trustees are responstbk for preparing the Trustees, report and the finarKial statements in accordance with applicable and United Kiwjom ACC￿nting Stsndards IUnite(l ￿gdoM Ge￿ralty Actepted A¢¢ounlirvJ Practieel. The law appliCa￿e lo thariti8s in ErrfJland & Wales requires the Tnjstees to prepare ￿anCIal statements for each financial vthi¢h give a true and fair VI￿ of the state of affairs of Charity and ol its income and application of resources, induding its in1￿￿ and exterKltture, for that ￿￿K1. In preparing these financial statam8nts, thè Trustees are required to.. select suitable accounting ￿lueS and then appty them consistenuy, observe the methods 8n(J princAFle5 of the Charibes SORP IFRS 1021., make judgements and accounting estimates that are reasonable and wudenL state whether 8pplicable UK AcccAJnting Standards IFRS 1021 have been f￿loWed. subject to any material departures disdosed and exptained in the financial statements- p￿pare the financial statements on the wng ￿C¢M basis unless it is inappropriate to presurne that the Charity will continue in bU￿ne$S. The Tnjstees are r8spon5ible for keeping adequate a¢¢(mjnli￿ re(x)rds that are suffici8nt to show and explain the Chariws tr8nsacts.ons and disdtsse witr reaSona￿e accuracy at any time the finanaal PDSrtion of the Charity and enable th8m to ensure that the financial statements (x)mply the Chariti'es Act 2011, the Charity (Accounts and Reports) RegulatKJns 21K)8 and the provisions of the Tnjst deed. They are 81so rgsponsible for afeguarding the assets of the Chartty and hence for taknng reasonab18 Steps for the prevention and deiection of fraud and other irregularities. ApprDV8d by order of the memL*s of the IK)ard of Trustees and sKjn￿j on their b8hatF by. IA¥Wa Rèv John Hayward Trustee Date-. Astrld Swn¢¥r Tnjstee Page 4 ## **Merton United Charities** ## **Independent examiner's report for the year ended 31 March 2024** ## **Independent examiner's report to the Trustees of Merton United Charities ('the Charity')** I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. ## **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 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: S M Rouse Dated: 27 January 2025 Samantha Rouse FCCA DChA ## **Kreston Reeves LLP** Chartered Accountants Montague Place, Quayside Chatham Maritime, Chatham Kent, ME4 4QU Page 5 ## **Merton United Charities** ## **Statement of financial activities for the year ended 31 March 2024** |**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Investments
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net income before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**2,200**
**37,939**
**4,247**
**44,386**
**18,957**
**18,957**
**25,429**
**2,274**
**27,703**
**255,634**
**27,703**
**283,337**|**Total**
**funds**
**2024**
**£**
**2,200**
**37,939**
**4,247**
**44,386**
**18,957**
**18,957**
**25,429**
**2,274**
**27,703**
**255,634**
**27,703**
**283,337**|As restated
Total
funds
2023
£
4,200
38,989
3,584| |---|---|---|---| ||||46,773
17,832| ||||17,832
28,941
(2,621)| ||||26,320
229,314
26,320| ||||255,634| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements. Page 6 Merton united Charlti•s Balance shèèt as at 31 March 2024 2024 2023 Fixed assèts Tangible assets Investments 10 11 85.213 118,735 85,213 91.461 203.948 176.674 Dèbtors Cash at bank and in hand 12 3.164 79.130 82.301 82.301 82.294 Creditors.. amounts f￿ling wthin t￿6 year 13 12,9121 13.334} Net current assgts 79.389 78,960 Totsl n•t ass•ts 283,337 255,634 Charity funds Unrestrided funds 14 283,337 255,634 Total funds 283,337 255,634 Thg fin8n¢kg1 statements were apr￿ved and a￿horiSed for issue bythe Twstees and signed on their behalf by. Rev John Hayward Truslee 08te'. Astrid Spencer Trustee The notes on pages 8 to 17 fijrrn part of these financial slat&nents. Paje 7 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **1. General information** Merton United Charities is an unincorporated charity in England and Wales, with charity number 201460. The registered office is The Vicarage, St Mary the Virgin, Church Path, London, SW19 3HJ. The principal objective of the Charity is the provision of accommodation to “poor women who have resided in the area of benefit (London Borough of Merton) for not less than two years preceding the time of their appointment”, with preference given to women who live in the former Parish of Merton. This is as stated in the Charity's governing document. ## **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. Merton United Charities 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 UK sterling, being the its functional currency, and rounded to the nearest pound. ## **2.2 Going concern** The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8 **Merton United Charities** **Notes to the financial statements for the year ended 31 March 2024** ## **2. Accounting policies (continued)** ## **2.4 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Social Housing Grant** Where developments have been financed wholly or partly by Social Housing Grant (SHG), the cost of these developments has been reduced by the amount of the grant received. SHG can be recycled by the Charity under certain conditions, if a property is sold, or if another relevant event takes place. In these cases, the SHG can be used for projects approved by the Homes and Communities Agency. However, SHG may have to be repaid if certain conditions are not met. The SHG relating to the freehold property of Merton United Charities amounted to £215,695. ## **2.6 Fixed assets - housing properties** Housing properties are stated at cost less the related SHG. Depreciation is charged on housing properties excluding freehold land, on a straight line basis over the expected economic useful life of the property. The Trustees believe that the properties will have a life of 100 years. The Trustees have not accounted for depreciation on the housing properties because the depreciation charge and accumulated depreciation are immaterial using the rates and basis above. The Trustees annually review the materiality of the housing properties depreciation. When housing properties have suffered a permanent diminution in value, the fall in value is recognised after taking account of any related SHG. ## **2.7 Taxation** The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **2.8 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. Page 9 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **2. Accounting policies (continued)** ## **2.9 Debtors** Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. ## **2.10 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. ## **2.11 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. ## **2.12 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. ## **2.13 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. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **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 does not currently have any significant accounting estimates or areas of judgement. Page 10 ## **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **4. Income from donations and legacies** |Donations
Total 2023
**Income from charitable activities**
Social housing lettings
Total 2023 as restated|**Unrestricted**
**funds**
**2024**
**£**
2,200
4,200
**Unrestricted**
**funds**
**2024**
**£**
37,939
38,989|**Total**
**funds**
**2024**
**£**
**2,200**
4,200
**Total**
**funds**
**2024**
**£**
**37,939**
38,989|Total
funds
2023
£
4,200| |---|---|---|---| ||||As restated
Total
funds
2023
£
38,989| ||||| ## **5. Income from charitable activities** The prior year comparative has been restated, following Trustee consideration, to reflect the income due in the period. ## **6. Investment income** |Income from local listed investments
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
4,247
3,584|**Total**
**funds**
**2024**
**£**
**4,247**
3,584|Total
funds
2023
£
3,584| |---|---|---|---| ||||| Page 11 ## **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **7. Analysis of expenditure on charitable activities** ## **Summary by fund type** |Charitable activities
Total 2023 as restated|**Unrestricted**
**funds**
**2024**
**£**
18,957
17,832|**Total**
**2024**
**£**
**18,957**
17,832|As restated
Total
2023
£
17,832| |---|---|---|---| ||||| ## **8. Analysis of expenditure by activities** |Charitable activities
Total 2023 as restated|**Support**
**costs**
**2024**
**£**
18,957
17,832|**Total**
**funds**
**2024**
**£**
**18,957**
17,832|As restated
Total
funds
2023
£
17,832| |---|---|---|---| ||||| The prior year comparative has been restated, following Trustee consideration, to reflect expenses incurred during the period. Page 12 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **8. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Telephone
Donations to residents
Sundry expenses
Maintenance
Cleaning
Clerk's remuneration
Heat and light
Insurance
Independent examination fees
Legal and professional fees
Total 2023 as restated|**Unrestricted**
**funds**
**2024**
**£**
624
100
409
8,057
1,526
3,000
871
1,130
2,520
720
18,957
17,832|**Total**
**funds**
**2024**
**£**
**624**
**100**
**409**
**8,057**
**1,526**
**3,000**
**871**
**1,130**
**2,520**
**720**
**18,957**
17,832|As restated
Total
funds
2023
£
624
2,400
463
5,004
1,388
3,050
820
987
2,376
720| |---|---|---|---| ||||17,832| ||||| ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 13 ## **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **10. Tangible fixed assets** |**Cost less social housing grant**
At 1 April 2023
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Freehold**
**property**
**£**
**85,213**| |---|---| ||**85,213**| ||**85,213**| ||85,213| As mentioned in the accounting policies, the Charity's freehold property is stated at cost less the Social Housing Grant received of £215,695. ## **11. Fixed asset investments** |**Cost or valuation**
At 1 April 2023
Additions
Revaluations
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Listed**
**investments**
**£**
**91,461**
**25,000**
**2,274**| |---|---| ||**118,735**| ||**118,735**| ||91,461| Fixed asset investments, at market value, comprise listed investments held in the M&G charity multi asset fund GBP Inc. At the Balance sheet date the Charity holds 130,607.080 income shares, which are all held in the UK. Page 14 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **12. Debtors** ||**2024**|2023| |---|---|---| ||**£**|£| |**Due within one year**||| |Other debtors|**-**|3,164| ## **13. Creditors: Amounts falling due within one year** |Other creditors
Accruals|**2024**
**£**
**392**
**2,520**
**2,912**|2023
£
958
2,376| |---|---|---| |||| |||3,334| ## **14. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
**Designated funds**
Routine maintenance fund
Extraordinary repairs fund
Cyclical maintenance fund
**General funds**
Reserves
**Total Unrestricted funds**|**Balance at 1**
**April 2023**
**£**
**5,472**
**55,000**
**2,295**
**62,767**
**192,867**
**255,634**|**Income**
**£**
**-**
**-**
**-**
**-**
**44,386**
**44,386**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**(18,957)**
**(18,957)**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**2,274**
**2,274**|**Balance at**
**31 March**
**2024**
**£**
**5,472**
**55,000**
**2,295**| |---|---|---|---|---|---| ||||||**62,767**| ||||||**220,570**| ||||||**283,337**| Page 15 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **14. Statement of funds (continued)** ## **Designated funds** ## _Routine maintenance fund_ Established to provide for the maintenance and repairs of the buildings. ## _Extraordinary repair fund_ Established to provide for the extraordinary repair, improvement or rebuilding of the almshouses. ## _Cyclical maintenance fund_ Established to provide for items of ordinary maintenance of the almshouses, which recur at infrequent intervals. ## **Statement of funds - prior year** |**Unrestricted funds**
**Designated funds**
Routine maintenance fund
Extraordinary repairs fund
Cyclical maintenance fund
**General funds**
**Total Unrestricted funds**|Balance at
1 April 2022
£
7,373
55,000
2,295
64,668
164,646
229,314|As restated
Income
£
-
-
-
-
46,773
46,773|As restated
Expenditure
£
(1,901)
-
-
(1,901)
(15,931)
(17,832)|Gains/
(Losses)
£
-
-
-
-
(2,621)
(2,621)|Balance at
31 March
2023
£
5,472
55,000
2,295| |---|---|---|---|---|---| ||||||62,767| ||||||192,867| ||||||255,634| ## **15. Summary of funds** ## **Summary of funds - current year** |Designated funds
General funds|**Balance at 1**
**April 2023**
**£**
**62,767**
**192,867**
**255,634**|**Income**
**£**
**-**
**44,386**
**44,386**|**Expenditure**
**£**
**-**
**(18,957)**
**(18,957)**|**Gains/**
**(Losses)**
**£**
**-**
**2,274**
**2,274**|**Balance at**
**31 March**
**2024**
**£**
**62,767**
**220,570**| |---|---|---|---|---|---| ||||||**283,337**| Page 16 **Merton United Charities** ## **Notes to the financial statements for the year ended 31 March 2024** ## **15. Summary of funds (continued)** ## **Summary of funds - prior year** |Designated funds
General funds|Balance at
1 April 2022
£
64,668
164,646
229,314|As restated
Income
£
-
46,773
46,773|As restated
Expenditure
£
(1,901)
(15,931)
(17,832)|Gains/
(Losses)
£
-
(2,621)
(2,621)|Balance at
31 March
2023
£
62,767
192,867| |---|---|---|---|---|---| ||||||255,634| ## **16. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2024**
**£**
85,213
118,735
82,301
(2,912)
283,337|**Total**
**funds**
**2024**
**£**
**85,213**
**118,735**
**82,301**
**(2,912)**| |---|---|---| |||**283,337**| ## **Analysis of net assets between funds - prior period** |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2023
£
85,213
91,461
82,294
(3,334)
255,634|Total
funds
2023
£
85,213
91,461
82,294
(3,334)| |---|---|---| |||255,634| ## **17. Related party transactions** Type text here The Charity has not undertaken any related party transactions during the financial year (2023: £Nil) and there are no balances outstanding with them at the Balance sheet date (2023: £Nil). Page 17