2022-08-31-accounts

Charity number: 206806

CRANFIELD COURT CHARITY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

CRANFIELD COURT CHARITY

CONTENTS

	Pages
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 - 19

CRANFIELD COURT CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022

Trustees	Mrs V M Armstrong, Trustee
	J C Pickering FCA, Honorary Treasurer
	R J C Hawkins, Chair
	Mrs M E J Gaskin, Trustee
	Cllr I Lockington, Trustee
	D M G Hughes, Trustee
	Dr D J McElhinney, Trustee
	G J L Evans, Trustee
Charity registered number 206806 Principal office 1 Armstrong House Chelsworth Avenue Ipswich Suffolk IP1 3BA Administrator D Lister Website www.cranfieldcourt.com Independent Examiner Adam Smith FCA Chartered Accountant Scrutton Bland LLP Independant examiner Fitzroy House Crown Street Ipswich Suffolk, IP1 3LG Bankers Lloyds Banking Group Ipswich Suffolk IP1 1DG Investment advisers Scrutton Bland Financial Services Limited Fitzroy House Crown Street Ipswich Suffolk IP1 3LG

Page 1

CRANFIELD COURT CHARITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their annual report together with the financial statements of The Cranfield Court Charity (the "Charity") for the year ended 31 August 2022.

Objectives and activities

a. Policies and objectives

The objective of the Charity is to provide homes or residences for the benefit of deserving poor persons of good character and education who by reason of age, infirmity, misadventure, adversity or otherwise are reduced in circumstances and are in special need of help or assistance.

To fulfil this objective, the Charity owns and manages Cranfield Court, a property offering rented accommodation to retired people. The main property has 34 flats and an additional building provides a further 16 flats.

b. Public benefit

In achieving the aims and objectives of the Charity, the Trustees are aware of, and have considered, the Charity Commission guidance on Public Benefit, and consider that their activities as described in the report deliver a public benefit.

Achievements and performance

a. Main achievements of the Charity

The Statement of Financial Activities shows net outgoing resources of £1,907 (2021: net incoming resources of £128,290).

b. Review of activities

There is no shortage of prospective tenants who meet our objectives. As a result, we have maintained full occupancy of our flats and continue to have a substantial waiting list which will see people waiting 1 to 3 years before being offered a flat.

c. Future developments

By keeping a short waiting list, we are able to maintain full occupancy of the flats and therefore maximise the income for our Charity. The turnover of tenancies remains low at 4% for the year. However, as tenants grow older and do not move on, we expect higher turnover in the next few years. Planning permission (with conditions) has been granted by Ipswich Borough Council for 4 new flats in the prior year. The Trustees have decided to defer the build project for the time being. The Trustees are taking advice from Birkett’s solicitors on incorporating the Cranfield Court Charity (registered charity number 206806) as a charitable incorporated organisation. Once all facts are known a final decision will be made.

Page 2

CRANFIELD COURT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Financial review

a. Going concern

The Trustees and management have prepared detailed forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.

b. Reserves policy

It is the policy of the Charity to maintain unrestricted free reserves, at such a level as the Trustees consider necessary to maintain the fabric of Cranfield Court and to provide reasonable funds against any unforeseen costs that may arise. Furthermore, the Trustees believe the reserves should be maintained so as to be able to make investments in support of maintaining rents at a charitable level.

At the end of the year the free reserves, represented by the balance of the General Fund were £217,119 (2021: £259,562).

c. Investments policy

The Trustees continue to take professional investment advice and our portfolio is managed on a discretionary basis by an independent financial adviser.

The value of the portfolio has very much followed the Stock Market and is valued at the year end at £32,760 below cost.

Structure, governance and management

a. Constitution

Cranfield Court Charity is a registered charity, number 206806, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

When a vacancy occurs for a co-opted Trustee, the remaining Trustees seek to appoint an individual with skills and experience which they feel will be of benefit to the Charity.

On appointment, new Trustees are given copies of the original Trust Deed and the latest Annual Report and accounts. There is no formal induction and training programme, but individual Trustees attend seminars to update themselves when they feel it to be necessary.

c. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. These procedures are regularly reviewed to ensure that they still meet the needs of the Charity.

Page 3

CRANFIELD COURT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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 judgments 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; and

• 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:

R J C Hawkins (Chair of Trustees)

Date:

Page 4

CRANFIELD COURT CHARITY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Independent Examiner's Report to the Trustee of Cranfield Court Charity (the "Charity")

I report to the Charity's Trustees on my examination of the financial statements of the Charity for the year ended 31 August 2022, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the Charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity's Trustees these matters I am required to state to them in this 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, for this report, or for the opinions I have formed.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('The Act').

I report in respect of my examination of the Charity's financial statements 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 financial statements 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 financial statements 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 financial statements do not accord with those records; or

3. the financial statements 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 financial statements to be reached.

Adam Smith FCA Chartered Accountant Scrutton Bland LLP Fitzroy House Crown Street Ipswich Suffolk IP1 3LG Date

Page 5

CRANFIELD COURT CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

Notes Income from: Donations and legacies 2 Charitable activities 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities Total expenditure Net income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2022 £ 136 215,161 6,301 221,598 5,141 168,550 173,691 47,907 (49,814) (1,907) 1,228,616 (1,907) 1,226,709	Total funds 2022 £ 136 215,161 6,301 221,598 5,141 168,550 173,691 47,907 (49,814) (1,907) 1,228,616 (1,907) 1,226,709	Total funds 2021 £ 5,000 208,658 7,649
			221,307
			4,867 147,448
			152,315
			68,992 59,298
			128,290
			1,100,326 128,290
			1,228,616

The Statement of Financial Activities includes all gains and losses recognised in the current and prior years. The notes on pages 8 to 19 form part of these financial statements.

Page 6

CRANFIELD COURT CHARITY

BALANCE SHEET AS AT 31 AUGUST 2022

Notes Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities being net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds	1,390 101,917 103,307 (19,801)	2022 £ 609,590 533,613 1,143,203 83,506 1,226,709 - 1,226,709 1,226,709	17,552 79,211 96,763 (21,052)	2021 £ 569,054 583,851
				1,152,905 75,711
				1,228,616
				- 1,228,616
				1,228,616

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R J C Hawkins (Chair of Trustees)

J C Pickering FCA (Trustee)

Date:

The notes on pages 8 to 19 form part of these financial statements.

Page 7

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 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.

Cranfield Court Charity meets the definition of a public benefit entity under FRS 102.

1.2 Going concern

The Trustees and management have prepared detailed forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.

1.3 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. No amounts are included in the financial statements for services donated by volunteers.

1.4 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.

Costs of raising funds represents investment mangement costs.

Costs of charitable activities represent direct costs of charitable activities and governance costs.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

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 resources expended is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Page 8

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. Accounting policies (continued)

1.6 Taxation

Cranfield Court 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.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold buildings - Nil Stair lifts - 10% straight line

No depreciation is provided on freehold property or improvements thereto as the Trustees consider that residual values are in excess of the cost capitalised.

1.8 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.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 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.

Page 9

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. Accounting policies (continued)

1.11 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.

1.12 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Statement of cash flows

The financial statements do not include a Statement of Cash Flows because the Charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under section 7 of the Charity SORP.

1.14 Critical accounting estimates and areas of significant 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.

There are no critical accounting estimates or areas of significant judgement in these financial statements.

1.15 Pensions

The Charity has a contractual obligation to make payments to the NEST (Work Place Pension) scheme, for eligible employees who have opted to join the scheme. Contributions are charged in the financial statements as they become payable.

1.16 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.

Page 10

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Income from donations and legacies

Unrestricted funds 2022 £ Donations 136 Total 2021 5,000 Income from charitable activities Unrestricted funds 2022 £ Rental income 215,161 Total 2021 208,658	Total funds 2022 £ 136 5,000 Total funds 2022 £ 215,161 208,658	Total funds 2021 £ 5,000
		Total funds 2021 £ 208,658

3. Income from charitable activities

Page 11

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

4. Investment income

Unrestricted funds 2022 £ Income from local listed investments 6,293 Interest receivable 8 6,301 Total 2021 7,649	Total funds 2022 £ 6,293 8 6,301 7,649	Total funds 2021 £ 7,646 3
		7,649

5. Investment management costs

Unrestricted funds 2022 £ Investment management fees 5,141 Total 2021 4,867	Total funds 2022 £ 5,141 4,867	Total funds 2021 £ 4,867

6. Charitable activities

Charitable activities Governance costs Total 2021	Staff costs 2022 £ 21,185 17,296 38,481 36,612	Other costs 2022 £ 124,010 6,059 130,069 110,836	Total funds 2022 £ 145,195 23,355 168,550 147,448	Total funds 2021 £ 125,667 21,781
				147,448

Page 12

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

7. Charitable activities

Unrestricted funds 2022 £ Light heat and power 12,137 Telephone 1,773 Insurance 13,434 Repairs and maintenance 43,938 Grounds 19,662 Lift maintenance 4,231 Legal and professional fees 2,400 HEARS alarm system 9,256 Pest control 764 Rates 10,601 Depreciation 5,814 Interior decoration - Building costs - Wages and salaries 19,388 Pension costs 1,797 Total 2022 145,195	Total funds 2022 £ 12,137 1,773 13,434 43,938 19,662 4,231 2,400 9,256 764 10,601 5,814 - - 19,388 1,797 145,195	Total funds 2021 £ 15,105 2,001 12,136 31,228 17,850 2,676 - 8,996 559 11,133 1,179 876 2,116 18,080 1,732
		125,667

Page 13

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8. Governance costs

Unrestricted funds 2022 £ Independent examination fee 1,500 Accountancy fees 1,506 Miscellaneous 3,053 Adminstration staff costs 17,296 23,355	Total funds 2022 £ 1,500 1,506 3,053 17,296 23,355	Total funds 2021 £ 1,380 1,338 2,263 16,800
		21,781

9. Staff costs

Wages and salaries Contribution to defined contribution pension schemes	2022 £ 36,684 1,797 38,481	2021 £ 34,880 1,732
		36,612

The average number of persons employed by the Charity during the year was as follows:

Charitable activities Management and administration of the charity	2022 No. 1 1 2	2021 No. 1 1
		2

No employee received remuneration amounting to more than £60,000 in either year.

10. Trustees' remuneration and expenses

During the year, none of the Trustees received any remuneration for their qualifying services to the Charity or other benefits (2021 - none).

During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £nil).

Page 14

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11. Tangible fixed assets

Cost or valuation At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for the year At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 12. Fixed asset investments Cost or valuation At 1 September 2021 Additions Disposals Revaluations At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021	Freehold property £ 560,152 - 560,152 - - - 560,152 560,152	Other fixed assets £ 33,247 46,350 79,597 24,345 5,814 30,159 49,438 8,902	Total £ 593,399 46,350 639,749 24,345 5,814 30,159 609,590 569,054 Listed investments £ 583,851 4,399 (4,823) (49,613) 533,613 533,613 583,851

Page 15

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

13. Debtors

	2022	2021
	£	£
Due within one year
Prepayments and accrued income	1,390	17,552

14. Creditors: Amounts falling due within one year

Deposits held Other creditors	2022 £ 15,431 4,370 19,801	2021 £ 15,184 5,868
		21,052

Page 16

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. Statement of funds Statement of funds - current year Balance at 1 September 2021 £ Income £ Unrestricted funds Designated funds Building fund 569,054 - Future building project fund 350,000 - Building repairs fund 50,000 - 969,054 - General funds General Funds - all funds 259,562 221,598 Total Unrestricted funds 1,228,616 221,598	Expenditure £ - - - - (173,691) (173,691)	Transfers in/out £ 40,536 25,000 - 65,536 (65,536) -	Gains/ (Losses) £ - - - - (49,814) (49,814)	Balance at 31 August 2022 £ 609,590 375,000 50,000
				1,034,590
				192,119
				1,226,709

Page 17

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. Statement of funds (continued) Statement of funds - prior year

Unrestricted funds Designated funds Building fund Future building project fund Building repairs fund General funds Accumulated fund Total Unrestricted funds	Balance at 31 September 2020 £ 570,233 325,000 50,000 945,233 155,093 1,100,326	Income £ - - - - 221,307 221,307	Expenditure £ - - - - (152,315) (152,315)	Transfers in/out £ (1,179) 25,000 - 23,821 (23,821) -	Gains/ (Losses) £ - - - - 59,298 59,298	Balance at 31 August 2021 £ 569,054 350,000 50,000
						969,054
						259,562
						1,228,616

Page 18

CRANFIELD COURT CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2022 £ Tangible fixed assets 609,590 Fixed asset investments 533,613 Current assets 103,307 Creditors due within one year (19,801) Total 1,226,709	Total funds 2022 £ 609,590 533,613 103,307 (19,801) 1,226,709

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2021 £ 569,054 583,851 96,763 (21,052) 1,228,616	Total funds 2021 £ 569,054 583,851 96,763 (21,052) 1,228,616

17. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £1,798 (2021 - £1,732). At 31 August 2022 there were no outstanding contributions due to the pension scheme (2021 - £nil).

18. Related party transactions

The Charity did not enter into any related party transactions during the current and prior year, nor were there any outstanding balances owing between related parties and the Charity at 31 August 2022 (2021 - £nil).

Page 19