Charity number: 205315
FLUCK CONVALESCENT FUND
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FLUCK CONVALESCENT FUND
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 6 |
| Independent Examiner's Report | 7 - 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 - 19 |
FLUCK CONVALESCENT FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | I Ginwalla Esq MBE |
|---|---|
| J H H Keck | |
| A Wallace-Cook (Retired 31 December 2023) | |
| C Cephas | |
| L Andrew | |
| K Watson | |
| A Nairn (Retired 31 December 2023) | |
| M Ifill | |
| M J Henshaw | |
| Charity registered number 205315 Principal office Tracy House 34 Bowbridge Lane Stroud Gloucestershire GL52 2JL Secretary J H H Keck Accountants and Independent Examiners Randall & Payne LLP Statutory Auditors Chargrove House Shurdington Road Shurdington Cheltenham Gloucestershire GL51 4GA Bankers Lloyds Group plc 19 Eastgate Street Gloucester Gloucestershire GL1 1NU |
Page 1
FLUCK CONVALESCENT FUND
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 1 April 2023 to 31 March 2024.
Objectives and activities
a. Public benefit
The Trust Deed requires the Trustees to spend its interest from investment and possibly by the realisation of investment in the unrestricted fund to be applied to the general public for the puroses specified under charity objectives and grant making policies.
We have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set. The Trustees are required to be satisfied that the assistance is only given to persons who are deserving and in need. For this reason no application will be accepted directly from members of the public but must be submitted by a responsible person (e.g. Social Services, Medical Practitioner, Health Visitor or Practice Nurse, or other officer of the Health Trust, Citizens Advice Bureau, Housing Association Neighbourhood Projects or others representing a recognised and acceptable organisation).
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)'.
b. Activities undertaken to achieve objectives
The objectives of the charity are to provide financial grants to women or children (male or female) to the age of 16 years, known as beneficiaries, who are considered to be of poor financial means and are sick, infirm or convalescing after illness, disease or surgical operation and are resident in the City of Gloucester or the neighbourhood thereof defined as that area previously forming the Gloucester Rural District.
c. Grant-making policies
The charity invited applications for grants for the following purposes:
(1) To supply clothing, bedding, furniture, food, refrigerator or freezer, vacuum cleaner, fuel and medical or other aids (especially for those suffering physical or emotional disability) and other comforts.
(2) To defray the expenses of recuperative holidays.
(3) Obtaining domestic help possibly for respite care.
(4) Assistance with nursery fees in conjunction with the respite care.
The above is not an exhaustive list, in other circumstances as the Trustees may think fit.
Restrictions
The Trustees will not approve grants towards:
(1) Relief of rates, taxes or other public funds, but income can be applied in supplementing relief or assistance provided out of public funds.
(2) Repaying or assisting with the repaying of debts which have actually been incurred.
(3) Recurring grants.
Page 2
FLUCK CONVALESCENT FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
(continued)
a. Investment policy and performance
There are no restrictions on the charity's power to invest and both funds may be placed in any type of investment as considered appropriate. The investment strategy which is reviewed at regular intervals is set by the Trustees with the objective of providing an increasing income combined with the security of capital. This has been achieved by investing the charity's funds currently with the Charities Official Investment Fund. Management reports are provided quarterly by the fund and are circulated and reviewed by the Trustees together with meetings held with the Fund Management from time to time. The Trustees wish to express their total satisfaction of the very proactive approach taken by the directors of COIF during the very turbulent financial climate and volatility in the equity market.
b. Reserves policy
The Trust Deed enables the Trustees to invest any surplus in the unrestricted fund and to realise income from this fund if the interest from investments is insufficient to meet demand.
Total funds held at 31 March 2024 totalled £1,847,130 (2023: £1,697,951). Of this total, £1,089,287 is endowment funds (2023: £980,484) and £757,843 is unrestricted funds (2023: £717,467).
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.
Structure, governance and management
a. Constitution
Fluck Convalescent Fund is a registered charity, number 205315, and is constituted under a Trust deed. The charity is controlled by its governing document, a Deed of Trust, and constitutes an unincorporated charity.
b. Organisational structure and decision-making policies
The Trustees who have served during the year are set out on page 1. Trustees are appointed by the Board of Trustees and serve for a period of five years after which period they put themselves up for re-appointment with the exception of the representative Trustee of the Council of the City of Gloucester who is appointed for four years. The Trustees aim to appoint a Trustee with legal knowledge, one with a medical background, one with accountancy skills and one involved in family welfare in addition to those directly involved with activities in the local community, and be representative of the citizens of the City of Gloucester.
c. Representative Trustee
The governing document still retains a place for a representative Trustee should the City of Gloucester Council wish to re-nominate a representative or until such time as council policy changes.
Page 3
FLUCK CONVALESCENT FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
d. Risk assessment
The Trustees have adopted a risk assessment policy to ensure as far as is possible that policies are in place to mitigate risk related to loss of amount of grant and charity funds; claims against client of a Trustee. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accurancy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
The Trustees have drawn up an appropriate policy to supplement the register of interest which has already been compiled. Further at the beginning of each meeting the agenda will require a Trustee to make a declaration related to any item on the agenda.
The Trustees are satisfied that all the above responsibilies have been conscientiously pursued. Further the Trustees are satisfied that the financial position is sound and will enable the level of grants to be maintained. The Trustees recommend that Randall & Payne LLP remain in office until further notice.
Page 4
FLUCK CONVALESCENT FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
e. Financial review
The Charity received an initial donation as a bequest from Miss Fluck to be kept in perpetuity, (the Endowment Fund), the capital of which amounts to £1,089,287 as at 31st March 2024 (£980,484 2023). Subsequent surplus of income over expenditure has also been invested, the capital of which is available to be realised if required, amounting to £757,843 as at 31st March 2024 (the unrestricted fund) (£717,467 2023). Both funds generate income which is used in accordance with the objectives of the charity. Included in the total Fund is £13,523 held in a Deposit Account from which funds are withdrawn to enable the payment of Grants.
The value of investments shows an increase in Restricted Funds of £108,803 and a decrease in Unrestricted Funds of £87,335 over the previous year. Despite £20,000 being withdrawn from the Unrestricted Fund, there was an overall increase in the Fund of £36,981.
The Investment Funds generated income of £51,260 during the year with refunds from grants of £2,935. There was expenditure of £69,762 (2023 - £69,751) on 230 grants (2023 – 225) with administrative costs totalling £1,038 resulting in an excess of expenditure over income of £16,605. The maximum grant remained at £450 during the year with the average grant of £303 being £7 down on the previous year. The number of grants paid increased by 5. The outcome during the full year shows an increase in grants paid of £11 over the previous year. There was a drawdown from the unrestricted fund of £20,000 to finance the additional expenditure.
During the year changes in the Trustee Board have occurred and we are very thankful to those who have served and have now stepped back. The duties of Chair have transferred from M J Henshaw to L Andrew and while the Treasurer has continued to be very successful in his role as Administrator it has been recognised that the time has come to recruit a paid Administrator, responsible to the Treasurer, who will be the first point of contact for grant applications and will, eventually, take on all of the normal processes. The extent of the Administrators duties are still being developed under the tutelage of the Treasurer and subject to overview of the Trustees.
The appointment of the Administrator has led to the Trustees recognising that the Fund’s website and IT support requires a complete overhaul. This will incur additional costs; however, these changes are required to move the overall management of the Fund from a paper and spreadsheet based organisation to one using modern database techniques.
Currently cash flow is satisfactory to meet the awards likely to be made. The Trustees are satisfied that the financial situation is sound and the Reserve Policy has sufficient funds available to cover all ongoing costs outside the Fund’s core activities.
Page 5
FLUCK CONVALESCENT FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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 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 Trust deed. 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:
................................................
J H H Keck
Date:
Page 6
FLUCK CONVALESCENT FUND
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of Fluck Convalescent Fund ('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.
Page 7
FLUCK CONVALESCENT FUND
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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 (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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
Page 8
FLUCK CONVALESCENT FUND
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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: Benjamin Burch Randall & Payne LLP Statutory Auditors Chargrove House Shurdington Road Shurdington Cheltenham Gloucestershire GL51 4GA
Dated: ACA
Page 9
FLUCK CONVALESCENT FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Note Income and endowments from: Donations and legacies 2 Investments 3 Total income and endowments Expenditure on: Charitable activities 5 Total expenditure Net expenditure 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 |
Endowment funds 2024 £ - - - - - - 108,803 108,803 980,484 108,803 1,089,287 |
Unrestricted funds 2024 £ 2,935 51,260 54,195 70,800 70,800 (16,605) 56,981 40,376 717,467 40,376 757,843 |
Total funds 2024 £ 2,935 51,260 54,195 70,800 70,800 (16,605) 165,784 149,179 1,697,951 149,179 1,847,130 |
Total funds 2023 £ 3,084 51,727 54,811 70,517 70,517 (15,706) (88,422) (104,128) 1,802,079 (104,128) 1,697,951 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 19 form part of these financial statements.
Page 10
FLUCK CONVALESCENT FUND
BALANCE SHEET AS AT 31 MARCH 2024
| Note Fixed assets Investments 8 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Endowment funds 10 Restricted funds 10 Unrestricted funds 10 Total funds |
17,919 17,919 (1,123) |
2024 £ 1,830,334 1,830,334 16,796 1,847,130 1,847,130 1,847,130 1,089,287 - 757,843 1,847,130 |
14,361 14,361 (960) |
2023 £ 1,684,550 |
|---|---|---|---|---|
| 1,684,550 13,401 |
||||
| 1,697,951 | ||||
| 1,697,951 | ||||
| 1,697,951 | ||||
| 980,484 - 717,467 |
||||
| 1,697,951 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
J H H Keck
Date:
The notes on pages 12 to 19 form part of these financial statements.
Page 11
FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies
1.1 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK (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.
Fluck Convalescent Fund 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.
1.2 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.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.3 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.
Page 12
FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies (continued)
1.3 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
1.4 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.
1.5 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.
1.6 Liabilities
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.
1.7 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.
1.8 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.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Refunds from relief grants | 2,935 | 2,935 |
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FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Income from donations and legacies (continued)
| Refunds from relief grants 3. Investment income Investment income Investment income 4. Analysis of grants Grants payable Grants payable |
Unrestricted funds 2023 £ 3,084 Unrestricted funds 2024 £ 51,260 Unrestricted funds 2023 £ 51,727 Grants to Individuals 2024 £ 69,762 Grants to Individuals 2023 £ 69,751 |
Total funds 2023 £ 3,084 |
|---|---|---|
| Total funds 2024 £ 51,260 |
||
| Total funds 2023 £ 51,727 |
||
| Total funds 2024 £ 69,762 |
||
| Total funds 2023 £ 69,751 |
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FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Analysis of grants (continued)
5. Analysis of expenditure on charitable activities
Summary by fund type
| Grants payable Postage and Stationery Accountancy & Legal fees Bank Interest Grants payable Postage & Stationary Accountancy Bank Interest 6. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of: Accounts preparation services |
Unrestricted funds 2024 £ 69,762 341 990 (293) 70,800 Unrestricted funds 2023 £ 69,751 160 780 (174) 70,517 2024 £ 325 500 |
Total 2024 £ 69,762 341 990 (293) 70,800 Total 2023 £ 69,751 160 780 (174) 70,517 2023 £ 300 500 |
|---|---|---|
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FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7. 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) .
8. Fixed asset investments
| Cost or valuation At 1 April 2023 Disposals Revaluations At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 9. Creditors: Amounts falling due within one year Accruals and deferred income |
Listed investments £ 1,091,399 - 108,803 1,200,202 1,200,202 1,091,399 |
Unlisted investments £ 593,151 (20,000) 56,981 630,132 630,132 593,151 2024 £ 1,123 |
Total £ 1,684,550 (20,000) 165,784 1,830,334 1,830,334 1,684,550 2023 £ 960 |
|---|---|---|---|
Page 16
FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Endowment funds Endowment Funds - all funds Total of funds |
Balance at 1 April 2023 £ 717,467 980,484 1,697,951 |
Income £ 54,195 - 54,195 |
Expenditure £ (70,800) - (70,800) |
Gains/ (Losses) £ 56,981 108,803 165,784 |
Balance at 31 March 2024 £ 757,843 |
|---|---|---|---|---|---|
| 1,089,287 | |||||
| 1,847,130 |
Page 17
FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds - all funds Endowment funds Endowment Funds - all funds Total of funds |
Balance at 1 April 2022 £ 764,024 1,038,055 1,802,079 |
Income £ 54,811 - 54,811 |
Expenditure £ (70,518) - (70,518) |
Gains/ (Losses) £ (30,850) (57,571) (88,421) |
Balance at 31 March 2023 £ 717,467 |
|---|---|---|---|---|---|
| 980,484 | |||||
| 1,697,951 |
11. Summary of funds
Summary of funds - current year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at 1 | Gains/ | 31 March | |||
| April 2023 | Income | Expenditure | (Losses) | 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 717,467 | 54,195 | (70,800) | 56,981 | 757,843 |
| Endowment funds | 980,484 | - | - | 108,803 | 1,089,287 |
| 1,697,951 | 54,195 | (70,800) | 165,784 | 1,847,130 | |
| Summary of funds - prior year | |||||
| Balance at | |||||
| Balance at | Gains/ | 31 March | |||
| 1 April 2022 | Income | Expenditure | (Losses) | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 764,024 | 54,811 | (70,518) | (30,850) | 717,467 |
| Endowment funds | 1,038,055 | - | - | (57,571) | 980,484 |
| 1,802,079 | 54,811 | (70,518) | (88,421) | 1,697,951 | |
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FLUCK CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Fixed asset investments Current assets Creditors due within one year Total Analysis of net assets between funds - prior period Fixed asset investments Current assets Creditors due within one year Total |
Endowment funds 2024 Unrestricted funds 2024 £ £ 1,089,287 741,047 - 17,919 - (1,123) 1,089,287 757,843 Endowment funds 2023 Unrestricted funds 2023 £ £ 980,484 704,066 - 14,361 - (960) 980,484 717,467 |
Total funds 2024 £ 1,830,334 17,919 (1,123) 1,847,130 Total funds 2023 £ 1,684,550 14,361 (960) 1,697,951 |
|---|---|---|
13. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.
Page 19