REGISTERED COMPANY NUMBER: 00071778 (England and Wales) REGISTERED CHARITY NUMBER: 209084
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FOR
THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE
THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 to 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Notes to the Financial Statements | 10 to 20 |
THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
Objectives and aims
The company is a charity, and exists to promote spiritual life, and moral and physical improvement in the district, and to provide residential accommodation where persons in need thereof may receive guidance and care.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. The Trustees have had regard to the Charity Commissions guidance on public benefit. The Trustees confirm that the charitable company meets the criteria for public benefit in providing residential accommodation, care and guidance for needy persons. However, the charitable company is small and maximises its human resources by providing funds to further its objectives by facilitating work of many other organisations in need within the Bournemouth/Poole area in line with its Christian ethos. Consideration continues to be given by the council to the identifying of charitable causes meriting support. The charity makes grants on strict adherence to its Memorandum and Articles of Association, these governing documents in turn set tight restrictions on the use of free reserves. The Memorandum and Articles of Association were updated on 15th February 2017.
FINANCIAL REVIEW
Financial position
Charitable grants made during the year totalled £35,677 (2022: £43,840), (note 8).
Overall there was a surplus of £569 (2022: deficit £49,386) which included depreciation of fixed assets of £54,086.
Total reserves now stand at £1,402,212 (2022: 1,401,643) of which £nil (2022: £1,327) is restricted and £879,077 (2022: £872,633) relates to the book value of fixed assets. Free reserves, those funds not tied up in fixed assets or restricted funds now stand at £523,135 (2022: £527,683).
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
Reserves and investment policies
The expense of maintaining the three properties presently owned is considerable. Some is regular or recurring and some one-off or emergency. During the 2022/23 year, expense on the latter has included redecoration and refurbishment of more bathrooms. Further substantial expense was incurred on renovation of pathways and groundworks at 11, St Albans. There is a continuing need for substantial sums to be reserved for other repair purposes in the future.
Other than the freehold properties, the assets of the charitable company are regarded as fugitive monies. They are held a) for maintenance purposes, as mentioned above and b) for distribution to charitable projects. An appropriate policy is to retain funds on a short term risk free basis, with sufficient income to counter inflation. To that end, short term deposits and notice accounts are held with Lloyds, United Trust, Hampshire Trust and Shawbrook Banks and the Nationwide Building Society.
On 1 April 2022 rents were increased by 4.7% over those set in April 2020 (using an independent rent valuation commissioned in the year ended 31 March 2012 as a reference point). The next rent review will be implemented with effect from 1 April 2024.
ADVICE AND INFORMATION
Vacancies continued to occur during the year in the residential accommodation available for letting and these vacancies were filled as soon as possible under the circumstances. Care was given to the maintenance and safety of the buildings.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charitable company is a company limited by guarantee, incorporated on 1 October 1901, and registered as a charity on 4 October 1951.
Charity constitution
The charitable company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and is governed under its Articles of Association. Under those Articles, the members of the Executive are elected at the Annual General Meeting, and are subject to ratification at each annual general meeting.
On the advice of the charitable company's solicitors revised Articles of Association were adopted at an extraordinary meeting called for that purpose on 15th February 2017. These have been submitted to the Charity Commission and Companies House.
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
The Executive has considered the need for ensuring new members are fully aware of their responsibilities, both personal and collective, in the governance of the affairs of the council. Every new member shall be supplied with a personal copy of the constitution (Memorandum and Articles of Association of the charitable company), together with printed information about the duties of a charitable trustee (e.g. the Charity Commission's booklet "Responsibilities of Charity Trustees").
Furthermore, members of the sub committee shall ensure that, on a one to one basis, every new member shall be advised by the Secretary, or in his or her absence an existing member, of the nature and scope of the affairs of the Council, and of the part the new member will be expected to play in those affairs.
REFERENCE AND ADMINISTRATIVE DETAILS Trustees
The Trustees, who are also the directors for the purpose of company law, trustees for the purpose of charity law and who served during the year and up to the date of signature of the financial statements were:
Mrs J Butler Mrs L Pain A Goodwin D Cutler P Hoyle (resigned 31/1/2023) D Alton L C M Fernand T Fernand M Priestley (appointed 18/11/2022)
None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Membership of the Council
Members of the Council are those persons so entitled in accordance with the membership provisions of the charitable company's Articles of Association.
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
Organisation
The Executive is the charitable company's board of directors and trustees and the sub-committee is its delegate. The Executive and sub-committee meet several times annually to discuss major issues of the charity.
Tenant contributions
Some tenants contribute to the administration of the residential accommodation and care; their service is recognised by way of a discounted rent.
Approved by order of the board of trustees on 22 September 2023 and signed on its behalf by:
T Fernand - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
Independent examiner's report to the trustees of The Incorporated Bournemouth Free Church Council ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Andrew A Clark FCA The Institute of Chartered Accountants in England and Wales
Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE
Date: 22nd September 2023
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities 3 Charitable activities Investment income 2 Total EXPENDITURE ON Charitable activities 4 Charitable activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 40 181,216 6,799 188,055 186,159 1,896 1,400,316 1,402,212 |
Restricted fund £ - - - - 1,327 (1,327) 1,327 - |
2023 Total funds £ 40 181,216 6,799 188,055 187,486 569 1,401,643 1,402,212 |
2022 Total funds £ 40 174,476 2,692 177,208 226,594 (49,386) 1,451,029 1,401,643 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
BALANCE SHEET 31 MARCH 2023
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Investments 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 879,077 4,992 518,338 8,690 532,020 (8,885) 523,135 1,402,212 1,402,212 |
Restricted fund £ - - - - - - - - - |
2023 Total funds £ 879,077 4,992 518,338 8,690 532,020 (8,885) 523,135 1,402,212 1,402,212 1,402,212 - 1,402,212 |
2022 Total funds £ 872,633 3,446 530,009 9,002 542,457 (13,447) 529,010 1,401,643 1,401,643 1,400,316 1,327 1,401,643 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL (REGISTERED NUMBER: 00071778)
BALANCE SHEET - continued 31 MARCH 2023
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 September 2023 and were signed on its behalf by:
T Fernand - Trustee
The notes form part of these financial statements
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
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the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
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the requirement of paragraph 33.7.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Freehold property at varying rates on cost - Fixtures and fittings 10% on reducing balance
Component Accounting
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Freehold housing properties are split between the structure and those major components which require periodic replacement. Replacement or restoration of such major components are capitalised and depreciated over the average estimated useful life of each component. Where components are replaced before the end of their useful economic lives an additional depreciation charge is made to reduce the net book value to nil before the asset and accumulated depreciation is written off.
The carrying value of property represents the last valuation undertaken in 2001 and under transitional provisions provided by previous accounting standards a policy not to make further revaluations was adopted. This valuation has been used as deemed cost on implementation of FRS 102, amended for the replacement of component parts. The Executive has undertaken an impairment review, and have concluded that the assets have not been impaired in the year.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
Investment income
2023 2022 £ £ 6,799 2,692
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. INCOME FROM CHARITABLE ACTIVITIES
| Rental income 11 St Albans Avenue 3 Arcadia Avenue 5 Arcadia Avenue General estate - garage General estate - parking General estate - laundry Total Total 2022 |
£ 134,605 18,864 22,714 1,200 720 3,113 ---------- 181,216 ---------- 174,476 |
|---|---|
Rent receivable is stated gross of £5,340 (2022 - £4,350) discounts given to tenants who acted as house leaders in the year.
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
4. CHARITABLE ACTIVITIES COSTS
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 5. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Cherry Tree Nursery Faithworks Fernheath Play Health Bus Mind Pokesdown Club Group Prama Life Bournemouth Methodists Bournemouth Foodbank Pace The total grants paid to individuals during the year was as follows: Tenant hardship 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Deficit on disposal of fixed assets Independent Examiners fee Audit fee |
2023 £ 35,677 2023 £ 4,000 - - 6,850 - 3,000 - 20,000 500 34,350 2023 £ 1,327 2023 £ 52,237 1,849 2,470 - |
2022 £ 43,840 2022 £ 4,000 10,000 8,000 6,520 8,320 3,000 4,000 - - 43,840 2022 £ - 2022 £ 28,728 - - 5,500 |
|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. TRUSTEES' REMUNERATION AND BENEFITS
Executive remuneration.
Tony Fernand, Secretary, was paid an honorarium of £3,600 (2022: £3,600) in the year. Other than this the charity has no payroll therefore no staff being paid more than £60,000.
Trustees' expenses
Expenses totalling £894 were reimbursed to 3 members of the Trustees in the year (2022: £1,112 to 3 members) for postage, stationery, phone, travel, repairs, renewals and computer costs.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Charitable activities Investment income Total EXPENDITURE ON Charitable activities Charitable activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 40 174,476 2,692 177,208 226,594 (49,386) 1,449,702 1,400,316 |
Restricted fund £ - - - - - - 1,327 1,327 |
Total funds £ 40 174,476 2,692 177,208 226,594 (49,386) 1,451,029 1,401,643 |
|---|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
9. SUPPORT COSTS
Support costs
| Support | Governance | 2023 | 2022 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| General secretary honorarium | 3,600 | - | 3,600 | 3,600 |
| General secretary expenses | 772 | - | 772 | 741 |
| President expenses | 75 | - | 75 | 75 |
| Finance officer expenses | 47 | - | 47 | - |
| Liability insurance | 356 | - | 356 | 335 |
| Sundry | 500 | - | 500 | 350 |
| Legal and professional | - | 1,774 | 1,774 | - |
| Audit fee | - | - | - | 5,500 |
| Audit certificate | - | - | - | 120 |
| Independent examiners fee | - | 2,470 | 2,470 | - |
| --------- | --------- | --------- | ----------- | |
| Total | 5,350 | 4,274 | 9,624 | 10,721 |
| -------- | -------- | --------- | ---------- |
All support and governance allocated to charitable activities.
10. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Additions Disposals At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year Eliminated on disposal At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Freehold property £ 1,278,477 60,568 (8,580) 1,330,465 415,375 51,284 (6,731) 459,928 870,537 863,102 |
Fixtures and fittings £ 29,568 - (38) 29,530 20,037 953 - 20,990 8,540 9,531 |
Totals £ 1,308,045 60,568 (8,618) 1,359,995 435,412 52,237 (6,731) 480,918 879,077 872,633 |
|---|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments and accrued income 12. CURRENT ASSET INVESTMENTS Unlisted investments 13. CREDITORS: AMOUNTS FALLING DUE WITHIN Trade creditors Accruals and deferred income 14. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Tenant Hardship fund TOTAL FUNDS |
ONE YEAR At 1/4/22 £ 1,400,316 1,327 1,401,643 |
2023 £ 755 4,237 4,992 2023 £ 518,338 2023 £ 4,838 4,047 8,885 Net movement in funds £ 1,896 (1,327) 569 |
2022 £ 281 3,165 3,446 2022 £ 530,009 2022 £ 3,572 9,875 13,447 At 31/3/23 £ 1,402,212 - 1,402,212 |
||
|---|---|---|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Tenant Hardship fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Tenant Hardship fund TOTAL FUNDS |
Incoming resources £ 188,055 - 188,055 At 1/4/21 £ 1,449,702 1,327 1,451,029 |
Resources expended £ (186,159) (1,327) (187,486) Net movement in funds £ (49,386) - (49,386) |
Movement in funds £ 1,896 (1,327) 569 At 31/3/22 £ 1,400,316 1,327 1,401,643 |
|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 177,208 177,208 |
Resources Movement expended in funds £ £ (226,594) (49,386) (226,594) (49,386) |
|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Tenant Hardship fund TOTAL FUNDS |
At 1/4/21 £ 1,449,702 1,327 1,451,029 |
Net movement in funds £ (47,490) (1,327) (48,817) |
At 31/3/23 £ 1,402,212 - |
|---|---|---|---|
| 1,402,212 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Tenant Hardship fund TOTAL FUNDS |
Incoming resources £ 365,263 - 365,263 |
Resources Movement expended in funds £ £ (412,753) (47,490) (1,327) (1,327) (414,080) (48,817) |
|---|---|---|
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THE INCORPORATED BOURNEMOUTH FREE CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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