**Charity number: 206806**
## **CRANFIELD COURT CHARITY**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2024**
## **CRANFIELD COURT CHARITY**
## **CONTENTS**
||Pages|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2|
|**Trustees' Report**|3 - 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 19|
**CRANFIELD COURT CHARITY**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024**
## **Trustees**
Mrs V M Armstrong, Trustee J C Pickering FCA, Treasurer (Resigned 24 May 2024) 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
A J Farthing, Trustee (appointed 1 October 2023)
## **Charity registered number**
206806
## **Principal office**
1 Armstrong House Chelsworth Avenue Ipswich Suffolk IP1 3BA
## **Administrator**
D Lister
## **Website**
www.cranfieldcourt.com
## **Independent Examiner**
John Perry Scrutton Bland Limited Chartered Accountants Fitzroy House Crown Street Ipswich Suffolk IP1 3LG
## **Bankers**
Lloyds Banking Group Ipswich Suffolk IP1 1DG
Page 1
## **CRANFIELD COURT CHARITY**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024**
## **Investment advisers**
East Anglian Financial Planning Limited Lodge Park Business Centre Lodge Lane Langham CO4 5NE
Page 2
**CRANFIELD COURT CHARITY**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024**
The Trustees present their annual report together with the financial statements of The Cranfield Court Charity ("the Charity") for the year ended 31 August 2024.
## **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 incoming resources of £86,035 (2023: net outgoing resources of £43,562).
## **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 2 years before being offered a flat.
## **c. Future developments**
By keeping a healthy 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 5% 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. The Trustees have decided to defer the build project for the time being.
The Trustees are continuing to take advice from Birkett’s solicitors on incorporating the Cranfield Court Charity (registered charity number 206806) (the Charity) as a charitable incorporated organisation. Once all facts are known a decision will be made.
Page 3
**CRANFIELD COURT CHARITY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024**
## **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.
## **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 £243,640 (2023 £154,369).
## **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 currently valued about £54,077 in excess of 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 4
##
##
##
##
##
##
##
##
## **CRANFIELD COURT CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024**
|**Note**
**Income from:**
Charitable activities
2
Investments
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
**Total expenditure**
**Net income/(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**|**Unrestricted**
**funds**
**2024**
**£**
**226,297**
**12,323**
**238,620**
**5,763**
**206,640**
**212,403**
**26,217**
**59,818**
**86,035**
**1,183,147**
**86,035**
**1,269,182**|**Total**
**funds**
**2024**
**£**
**226,297**
**12,323**
**238,620**
**5,763**
**206,640**
**212,403**
**26,217**
**59,818**
**86,035**
**1,183,147**
**86,035**
**1,269,182**|Total
funds
2023
£
221,514
8,770|
|---|---|---|---|
||||230,284
5,099
259,827|
||||264,926
(34,642)
(8,920)|
||||(43,562)
1,226,709
(43,562)|
||||1,183,147|
The totals for 2023 all relate to unrestricted funds.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
Page 7
##
##
||||**2024**||2023|
|---|---|---|---|---|---|
||**Note**||£||£|
|**Fixed assets**||||||
|Tangible assets|10||**600,542**||603,776|
|Investments|11||**648,808**||532,647|
||||**1,249,350**||1,136,423|
|**Current assets**||||||
|Debtors|12|**2,333**||1,703||
|Cash at bank and in hand||**37,866**||62,755||
|||**40,199**||64,458||
|Creditors: amounts falling due within one||||||
|year|13|**(20,367)**||(17,734)||
|**Net current assets**|||**19,832**||46,724|
|**Total assets less current liabilities**|||**1,269,182**||1,183,147|
|**Net assets excluding pension asset**|||**1,269,182**||1,183,147|
|**Total net assets**|||**1,269,182**||1,183,147|
|**Charity funds**||||||
|Restricted funds|14|||||
|Unrestricted funds|14||**1,269,182**||1,183,147|
|**Total funds**|||**1,269,182**||1,183,147|
**CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 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 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.
The Company's functional and presentational currency is GBP.
## **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 management 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 9
## **CRANFIELD COURT CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **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|
|---|---|
|Plant and machinery|- 20% straight line|
|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 10
## **CRANFIELD COURT CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **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 11
## **CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **2. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Rental income
**226,297**
Total 2023
221,514|**Total**
**funds**
**2024**
**£**
**226,297**
221,514|Total
funds
2023
£
221,514|
|---|---|---|
||||
## **3. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Income from local listed investments
**11,364**
Interest receivable
**959**
**12,323**
Total 2023
8,770
**Investment management costs**
**Unrestricted**
**funds**
**2024**
**£**
Investment management fees
**5,763**
Total 2023
5,099|**Total**
**funds**
**2024**
**£**
**11,364**
**959**
**12,323**
8,770
**Total**
**funds**
**2024**
**£**
**5,763**
5,099|Total
funds
2023
£
8,550
220|
|---|---|---|
|||8,770|
|||Total
funds
2023
£
5,099|
||||
## **4. Investment management costs**
Page 12
**CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **5. Charitable activities**
|Charitable activities
Governance costs
Total 2023|**Staff costs**
**2024**
**£**
**22,927**
**21,942**
**44,869**
42,476|**Other costs**
**2024**
**£**
**155,175**
**6,596**
**161,771**
217,351|**Total**
**funds**
**2024**
**£**
**178,102**
**28,538**
**206,640**
259,827|Total
funds
2023
£
232,797
27,030|
|---|---|---|---|---|
|||||259,827|
||||||
## **6. Charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Light heat and power
**34,164**
Telephone
**1,730**
Insurance
**17,262**
Repairs and maintenance
**49,595**
Grounds
**29,463**
Lift maintenance
**2,343**
Legal and professional fees
**1,310**
HEARS alarm system
**10,568**
Tenants functions
**3,004**
Pest control
**635**
Rates
**(1,358)**
Depreciation
**6,459**
Wages and salaries
**20,846**
Pension costs
**2,081**
**Total 2024**
**178,102**|**Total**
**funds**
**2024**
**£**
**34,164**
**1,730**
**17,262**
**49,595**
**29,463**
**2,343**
**1,310**
**10,568**
**3,004**
**635**
**(1,358)**
**6,459**
**20,846**
**2,081**
**178,102**|Total
funds
2023
£
13,512
1,532
15,839
128,676
18,239
3,245
7,160
10,058
2,164
576
4,403
5,814
19,597
1,982|
|---|---|---|
|||232,797|
Page 13
**CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **7. Governance costs**
|**Unrestricted**
**funds**
**2024**
**£**
Independent examination fee
**1,700**
Accountancy fees
**1,768**
Miscellaneous
**3,128**
Adminstration staff costs
**21,942**
**28,538**|**Total**
**funds**
**2024**
**£**
**1,700**
**1,768**
**3,128**
**21,942**
**28,538**|Total
funds
2023
£
1,500
1,500
3,133
20,897|
|---|---|---|
|||27,030|
|**8.**
**Staff costs**
Wages and salaries
Contribution to defined contribution pension schemes|**2024**
**£**
**42,788**
**2,081**
**44,869**|2023
£
40,494
1,982|
|---|---|---|
||||
|||42,476|
The average number of persons employed by the Charity during the year was as follows:
|Charitable activities
Management and administration of the charity|**2024**
**No.**
**1**
**1**
**2**|2023
No.
1
1|
|---|---|---|
||||
|||2|
No employee received remuneration amounting to more than £60,000 in either year.
## **9. Trustees' remuneration and expenses**
During the year, none of the Trustees received any remuneration for their qualifying services to the Charity or other benefits (2023 - none).
During the year ended 31 August 2024, no Trustee expenses have been incurred (2023 - £nil).
Page 14
**CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **10. Tangible fixed assets**
|**Cost or valuation**
At 1 September 2023
Additions
At 31 August 2024
**Depreciation**
At 1 September 2023
Charge for the year
At 31 August 2024
**Net book value**
At 31 August 2024
At 31 August 2023
**11.**
**Fixed asset investments**|**Freehold**
**property**
**£**
**560,152**
**-**
**560,152**
**-**
**-**
**-**
**560,152**
560,152|**Plant and**
**machinery**
**£**
**-**
**3,225**
**3,225**
**-**
**645**
**645**
**2,580**
-|**Stairlifts**
**£**
**79,597**
**-**
**79,597**
**35,973**
**5,814**
**41,787**
**37,810**
43,624|**Total**
**£**
**639,749**
**3,225**|
|---|---|---|---|---|
|||||**642,974**|
|||||**35,973**
**6,459**|
|||||**42,432**|
|||||**600,542**|
|||||603,776|
||||||
|**Cost or valuation**
At 1 September 2023
Additions
Revaluations
At 31 August 2024|**Listed**
**investments**
**£**
**532,647**
**56,343**
**59,818**|
|---|---|
||**648,808**|
Page 15
## **CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **12. Debtors**
||**2024**|2023|
|---|---|---|
||**£**|£|
|**Due within one year**|||
|Prepayments and accrued income|**2,333**|1,703|
## **13. Creditors: Amounts falling due within one year**
|Deposits held
Other creditors|**2024**
**£**
**15,974**
**4,393**
**20,367**|2023
£
15,634
2,100|
|---|---|---|
||||
|||17,734|
Page 16
## **CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
|**14.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**September**
**2023**
**£**
**Income**
**£**
**Unrestricted**
**funds**
**Designated**
**funds**
Building fund
**603,776**
**-**
Future building
project fund
**375,000**
**-**
Building repairs
fund
**50,000**
**-**
**1,028,776**
**-**
**General funds**
General Funds -
all funds
**154,371**
**238,620**
**Total**
**Unrestricted**
**funds**
**1,183,147**
**238,620**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**(212,403)**
**(212,403)**|**Transfers**
**in/out**
**£**
**(3,234)**
**-**
**-**
**(3,234)**
**3,234**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**59,818**
**59,818**|**Balance at**
**31 August**
**2024**
**£**
**600,542**
**375,000**
**50,000**|
|---|---|---|---|---|
|||||**1,025,542**|
|||||**243,640**|
|||||**1,269,182**|
Page 17
## **CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. Statement of funds (continued) Statement of funds - prior year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Building fund
Future building
project fund
Building repairs
fund
**General funds**
General Funds -
all funds
**Total**
**Unrestricted**
**funds**|Balance at
31
September
2022
£
609,590
375,000
50,000
1,034,590
192,119
1,226,709|Income
£
-
-
-
-
230,284
230,284|Expenditure
£
-
-
-
-
(264,926)
(264,926)|Transfers
in/out
£
(5,814)
-
-
(5,814)
5,814
-|Gains/
(Losses)
£
-
-
-
-
(8,920)
(8,920)|Balance at
31 August
2023
£
603,776
375,000
50,000|
|---|---|---|---|---|---|---|
|||||||1,028,776|
|||||||154,371|
|||||||1,183,147|
Page 18
**CRANFIELD COURT CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
**600,542**
Fixed asset investments
**648,808**
Current assets
**40,199**
Creditors due within one year
**(20,367)**
**Total**
**1,269,182**|**Total**
**funds**
**2024**
**£**
**600,542**
**648,808**
**40,199**
**(20,367)**
**1,269,182**|
|---|---|
## **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
£
603,776
532,647
64,458
(17,734)
1,183,147|Total
funds
2023
£
603,776
532,647
64,458
(17,734)
1,183,147|
|---|---|---|
## **16. 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 £2,081 (2023 - £1,982). At 31 August 2024 there were no outstanding contributions due to the pension scheme (2023 - £nil).
## **17. 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 2024 (2023 - £nil).
Page 19