Charity registration number 208208 (England and Wales)
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Miss B Mangan |
|---|---|
| Miss N Curtin | |
| Miss M O'Sullivan | |
| Charity number (England and Wales) | 208208 |
| Principal address | Provincial House |
| 42 Rathfarnham Road | |
| Terenure | |
| Dublin | |
| D6W NY67 | |
| Independent examiner | Darren Harding ACA FCCA DChA |
| Richard Place Dobson Services Limited | |
| 1-7 Station Road | |
| Crawley | |
| West Sussex | |
| RH10 1HT |
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and "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)".
Objectives and activities
The objects of the charity are such charitable purposes which advance religious and other charitable work. This work is carried on under the direction of the Society as the Trustees shall from time to time think fit. There have been no changes to the objects in the year.
The charity's trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.
Prayer is a very big part of the Sister mission, particularly those confined to Nursing Homes.
Using the various forms of media to communicate their wisdom and advise when visiting is no longer possible.
Our activities have been reduced this year due to the pandemic which imposed restriction on home and hospital visiting. Our pastoral work was also limited during severe lockdown.
However, as our mission is to bear witness to God's love among the poor, the workers and their families, we continued this witness by simple acts of service.
We continued to raise awareness in injustice and racism and to promote care of the earth and ecology.
Achievements and performance
Presently we have only 2 Sisters left in the U.K.
Both continue their life of prayer and commitment to the Founders Mission of giving witness to God's love among the poor, the workers and their families and we continue this Mission by simple acts of service.
Financial review
Net incoming resources for the year totaled £193,211 (2023 - £35,925) as shown on the statement of financial activities on page 4 of the accounts.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to approximately 3 to 6 months expenditure.
The current level of unrestricted reserves is £149,728 which is currently higher than the reservices policy. This is largely due to a legacy received during the financial year.
In accordance with the trust deed, the trustees have the power to invest in any investments for the time being authorised by law for the investment of trust funds. The trustees have engaged J.M.Finn & Co as investment managers. The trustees intend that the real value of their assets be maintained and enhanced over the long term in a portfolio comprising of equities, fixed income stocks and cash. The trustees have also requested that J.M.Finn & Co adopt an ethical policy when considering investments.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
page 1
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The Little Sisters of the Assumption (English Province) was established by a declaration of trust on 2 December 1963 as amended by a Charity Commissioners scheme dated 5 June 1991, order dates 1st April 2003, as amended by a resolution of the trustees dated 7th April 2003 and deed of amendement dated 1st July 2003, as amended on 2nd April 2023.
On 18 November 1993, the trustees were incorporated under the name of The Incorporated Trustees of the Little Sisters of the Assumption with the approval of the Charity Commissioners. The charity is registered with the Charity Commissioners under registration number 208208. The power to appoint and remove trustees rests with the Superior. The investment powers of the charity rest with the trustees with the approval of the Superior. There has been no change in these powers in the year.
The Trustees who served during the year and up to the date of signature of the financial statements were: Miss B Mangan Miss N Curtin Miss M O'Sullivan
Trustees are selected from fully professed members of the Congregation and they are introduced to the role and the responsibility of being a trustee by attendance at meetings.
The Trustees ' report was approved by the B oard of Trustees.
..............................
Miss M O'Sullivan Trustee 20/05/2025 Dated: .........................
page 2
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of Little Sisters Of The Assumption Charitable Trust (the charity) for the year ended 31 December 2024.
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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 now 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 UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
-
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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.
Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT
Dated: 20 May 2025
page 3
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted Unrestricted funds funds general designated 2024 2024 Notes £ £ Income from: Donations and legacies 3 200,750 - Charitable activities 4 31,839 - Investments 5 14,831 - Total income 247,420 - Expenditure on: Raising funds 6 4,906 - Charitable activities 7 66,987 893 Total expenditure 71,893 893 Net gains/(losses) on investments 11 - 18,577 Net income/(expenditure) 175,527 17,684 Transfers between funds (100,821) 100,821 Net movement in funds 9 74,706 118,505 Reconciliation of funds: Fund balances at 1 January 2024 75,022 848,715 Fund balances at 31 December 2024 149,728 967,220 |
Total Unrestricted Unrestricted funds funds general designated 2024 2023 2023 £ £ £ 200,750 700 - 31,839 39,607 - 14,831 28,535 - 247,420 68,842 - 4,906 4,850 - 67,880 94,845 893 72,786 99,695 893 18,577 - (4,179) 193,211 (30,853) (5,072) - 38,110 (38,110) 193,211 7,257 (43,182) 923,737 67,765 891,897 1,116,948 75,022 848,715 |
Total 2023 £ 700 39,607 28,535 68,842 4,850 95,738 100,588 (4,179) (35,925) - (35,925) 959,662 923,737 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
page 4
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds - general Unrestricted funds - designated 17 |
2024 £ 158,758 269,819 428,577 (2,400) |
£ 101,801 588,970 690,771 426,177 1,116,948 149,728 967,220 1,116,948 |
2023 £ 1,381 244,659 246,040 (2,970) |
£ 102,694 577,973 |
|---|---|---|---|---|
| 680,667 243,070 |
||||
| 923,737 | ||||
| 75,022 848,715 |
||||
| 923,737 |
The financial statements were approved by the Trustees on 20/05/2025..
.............................. Miss M O'Sullivan Trustee
page 5
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Little Sisters of the Assumption an unincorporated charity. The principal address is Provincial House, 42 Rathfarnham Road, Terenure, Dublin, D6W NY67.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's declaration of trust, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds set aside at the discretion of the trustees to be used for a specific purpose. The designated fund for fixed assets is that part of the unrestricted funds that represents fixed assets used in the day to day operation of the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Other incoming resources includes sisters income and is recognised in the period to which it relates which is when the charity becomes entitled to the resource.
Donations and similar incoming resources are included in the year in which they are receivable which is when the charity becomes entitled to the resource.
Income from investments is included in the SOFA in the year in which it is receivable which is when the charity becomes entitled to the resources.
page 6
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Charitable activities relate to the costs of the community and have been allocated directly to the functional headings as shown on the SOFA. Welfare costs relate to medical and education costs for the sisters.
Support costs now include governance costs which are costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees, accountancy fees, legal and professional fees and bank charges.
Allocation and apportionment of costs
The main activity of the charity is to provide religious services to the community so all costs related to this are classed as direct charitable costs and all other costs are allocated as support costs.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Long leasehold Straight line over 125 years Fixtures, fittings & equipment 15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at market value at each reporting date. Changes in market value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
page 7
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
1.11 Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
1.12 Taxation
As a charity, the trust is not subject to Corporation Tax or any taxes on income and gains arising from its charitable activities.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
Investment value
Valuation of investments at market value, based on calculation by the investment fund manager. The investments held are all shares listed on a recognised stock exchange and have an easily identifiable market value.
page 8
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 750 | 700 | |
| Legacies | 200,000 | - | |
| 200,750 | 700 | ||
| 4 | Income from charitable activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Sisters income | 31,839 | 39,607 | |
| 5 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Income from listed investments | 12,115 | 26,429 | |
| Interest receivable | 2,716 | 2,106 | |
| 14,831 | 28,535 | ||
| 6 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Investment management | 4,906 | 4,850 |
page 9
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7 Expenditure on charitable activities
| Direct costs Depreciation and impairment Rates and water Health Share of support and governance costs (see note 8) Support Governance Analysis by fund Unrestricted funds - general Unrestricted funds - designated |
Total 2024 £ 893 2,773 60,879 64,545 80 3,255 67,880 66,987 893 67,880 |
Total 2023 £ 893 4,488 72,901 |
|---|---|---|
| 78,282 - 17,456 |
||
| 95,738 | ||
| 94,845 893 |
||
| 95,738 |
8 Support costs allocated to activities
| Subscriptions Governance Governance costs comprise: Accountancy Legal and professional 9 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets |
Total 2024 £ 80 3,255 2024 £ 1,635 1,620 3,255 2024 £ 1,235 893 |
Total 2023 £ - 17,456 |
|---|---|---|
| 2023 £ 2,370 15,086 |
||
| 17,456 | ||
| 2023 £ 2,370 893 |
page 10
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The trustees are also members of the community. Members of the community are maintained by the charity and the cost of premises, meals and other living expenses in respect of each sister is paid by the charity.
11 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| designated | designated | |
| 2024 | 2023 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 18,346 | - |
| Sale of investments | 231 | (4,179) |
| 18,577 | (4,179) |
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13 Tangible fixed assets
| Long Cost At 1 January 2024 Disposals At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charged in the year Eliminated in respect of disposals At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023 |
leasehold Fixtures, fittings & equipment Total £ £ £ 111,624 145,306 256,930 - (145,306) (145,306) 111,624 - 111,624 8,930 145,306 154,236 893 - 893 - (145,306) (145,306) 9,823 - 9,823 101,801 - 101,801 102,694 - 102,694 |
|---|---|
Fixtures and fittings were introduced at a trustees' estimate of original cost in January 1994.
All fixed assets are used for charitable purposes.
page 11
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Fixed asset investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 January 2024 | 577,973 |
| Additions | 23,091 |
| Valuation changes | 18,345 |
| Disposals | (30,440) |
| At 31 December 2024 | 588,969 |
| Carrying amount | |
| At 31 December 2024 | 588,969 |
| At 31 December 2023 | 577,973 |
| Historical cost | |
| At 31 December 2024: £485,397 | |
| At 31 December 2023: £494,685 |
Investments that had a value of 5% or more of the market value held at year end are: Stewart Inv Asia Sustainability - £35,947 Halma Ord GBP0.10 - £29,579 Mercantile Investments - £29,750
Revaluation reserves of £103,572 (2023: £83,288) are included in the designated fund.
15 Debtors
| Amounts falling due within one year: Gross amounts owed by purchaser Prepayments Amounts falling due after more than one year: Gross amounts owed by purchaser Total debtors |
2024 £ 12,000 5,194 17,194 2024 £ 141,564 158,758 |
2023 £ - 1,381 |
|---|---|---|
| 1,381 | ||
| 2023 £ - |
||
| 1,381 |
page 12
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Creditors: amounts falling due within one year
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Accruals | 2,400 | 2,970 | ||||
| Unrestricted funds - designated | ||||||
| These are unrestricted funds which are | material to the | charity's activities. | ||||
| At 1 January | Resources | Transfers | Gains and | At 31 December |
||
| 2024 | expended | losses | 2024 | |||
| £ | £ | £ | £ | £ | ||
| Sisters Care fund | 746,021 | - | (52,743) | 18,577 | 711,855 | |
| Property fund | 102,694 | (893) | - | - | 101,801 | |
| Loan fund | - | - | 153,564 | - | 153,564 | |
| 848,715 | (893) | 100,821 | 18,577 | 967,220 | ||
| Previous year: | At 1 January | Resources | Transfers | Gains and | At 31 December |
|
| 2023 | expended | losses | 2023 | |||
| £ | £ | £ | £ | £ | ||
| Sisters Care fund | 788,310 | - | (38,110) | (4,179) | 746,021 | |
| Property fund | 103,587 | (893) | - | - | 102,694 | |
| 891,897 | (893) | (38,110) | (4,179) | 848,715 | ||
| Analysis of net assets between funds | ||||||
| Unrestricted | Unrestricted | Total | ||||
| funds | funds | |||||
| general | designated | |||||
| 2024 | 2024 | 2024 | ||||
| £ | £ | £ | ||||
| At 31 December 2024: | ||||||
| Tangible assets | - | 101,801 | 101,801 | |||
| Investments | - | 588,970 | 588,970 | |||
| Current assets/(liabilities) | 149,728 | 276,449 | 426,177 | |||
| 149,728 | 967,220 | 1,116,948 |
17 Unrestricted funds - designated
18 Analysis of net assets between funds
page 13
LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 18 | Analysis of net assets between funds | (Continued) | ||
|---|---|---|---|---|
| Unrestricted | Unrestricted | Total | ||
| funds | funds | |||
| general | designated | |||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| At 31 December 2023: | ||||
| Tangible assets | - | 102,694 | 102,694 | |
| Investments | - | 577,973 | 577,973 | |
| Current assets/(liabilities) | 75,022 | 168,048 | 243,070 | |
| 75,022 | 848,715 | 923,737 |
19 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
page 14