HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Charity Registration No. 209221
HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activites | 6 - 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 15 |
HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees - Nominative
Cllr. Mrs P Graham Cllr. Mr J Martin Cllr. Major K Miles Cllr. Mr D Owen
Trustees – Co-optative
Mr A Curl Mr C Medlicott Mrs S Moberly Dr R Mohr Mrs H Molyneux-Gerken
Ex-Officio Trustee (Vicar of St. Leonard's Church)
Revd. M Darkins
Key Management Personnel
Trustees (as above) T R Lawrence
Clerk to the Trustees
Mr T R Lawrence 49 High Street Hythe Kent
Independent Examiner
M A Wilkes, FCA Azets Audit Services Ashford Commercial Quarter 1 Dover Place Ashford Kent
Banker
National Westminster Bank Plc 49 Sandgate Road Folkestone Kent
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
REPORT OF THE TRUSTEES
The Trustees present their report and financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
Public Benefit Statement
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
Objectives and Activities
The objective of the charity is to provide accommodation for the elderly in need, who must be over the age of 60 and have lived in the Parish of St Leonards, Hythe for not less than 10 years.
Achievements and performance in the year (including financial review)
The charity provides accommodation in the form of 7 self-contained flat-lets in a part-medieval, part post Second World War building, conveniently situated at 150 High Street, Hythe. Residents had agreed to contribute £200 each from their winter fuel bills to aid with rising living cost. A relatively quiet year with no disasters.
Rental income remained consistent in the year from 2021. Expenditure has increased on the previous year by around £5,000, mainly due to increases in gas and electricity and refurubishment costs. A deficit for the year of £10,925 (2021: deficit £3,710) has been reported, before gains/losses on investments.
The net movement in funds after losses on investment is a decrease of £20,196 (2020: increase £8,331). This resulted in reserves at 31 December 2022 of £224,142 (2021: £244,338).
Investment policy
The Trustees may invest, as they see fit for the benefit of the charity, all funds in the Income Fund. The investments are decided by a resolution of the Trustees at Trustees meetings.
Reserve policy
The Trustees consider the level of unrestricted reserves to be adequate. At 31 December 2022 the unrestricted reserves amounted to £53,911 (2021: £42,641). It is the aim to have a minimum of 1 years expenditure, amounting to £42,000 (2021: £37,000), to safeguard the future of the charity. This is based on budgeted future expenditure including any renovation and improvement costs.
The Permanent Endowment fund represents the value of the original investments defined as permanent endowment in the charity's governing document. Any appreciation arising from this sum is shown as part of the permanent endowment fund. At 31 December 2022 the fund had a balance of £23,945 (2021: £30,698).
The Expendable Endowment fund is for the purpose of providing for the extraordinary repair, improvement of rebuilding of the almshouses belonging to the charity. At 31 December 2022 the fund had a balance of £991 (2021: £991).
Designated funds represent the 'Fixed asset fund' which is the value of tangible fixed assets and investments designated to by the Trustees to provide an income stream and the 'repair and renovation fund' which is to provide for future repairs and renovations for the flat-lets. The value of the funds amount to £145,215 (2021: £170,008)
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
REPORT OF THE TRUSTEES
Risk register
The Trustees have developed a list of the current risk factors which have the potential for endangering the operations of the charity and are satisfied with this analysis and the measures which have been taken to mitigate the effects of these factors.
The main risks to the charity are the usual Health and Safety issues, which the Trustees keep under regular review. In addition, income comes mainly from rental income from the flats as investment income. All reasonable steps were taken to protect the Residents from Covid-19 and the usual risks for the elderly.
Going concern
The Trustees have taken all the necessary steps to ensure our residents remain safe and well. We have been fortunate that we have not suffered any loss of income as maintenance payments continues to be paid. No large items of expenditure have been necessary and our bank balances have remained stable. There have been disposals and acquistions of new investments during the year. Based on this the Trustees consider the charity to be a going concern.
Plans for the future
The Trustees plan to make the Hospital garden safer and more usable for the residents by having a larger area of non-slip paving with associated works and to maintain high standards of safety and upkeep in the home.
Structure
The charity has its origins in a Charter dated October 1336 by Hamo De Hethe, Bishop of Rochester and is registered with the Charity Commission, number 209221.
Governance and Management
The Trustees of the Hospitals of St Bartholomew and St John are responsible for the general control and management of the administration of the charity.
During the year the following were Trustees of the charity:
| Mr C Medlicott | Mrs H Molyneux-Gerken |
|---|---|
| Mrs W Peacock (resigned 20 September 2022) | Dr R Mohr |
| Cllr. Mr D Owen | Cllr Mrs P Graham (appointed 1 January 2022) |
| Mrs S Moberly | Revd. M Darkins (appointed 1 March 2022) |
| Cllr J Martin (appointed 1 January 2022) | Cllr Major K Miles (appointed 1 January 2022) |
| Mr A Curl (appointed 20 September 2022) |
The body of Trustees consist of 10 persons being: An Ex-officio Trustee (the vicar of the parish of St Leonards, Hythe) 4 Nominative Trustees (appointed by the town council for the term of 4 years at a council meeting), 5 Cooptative Trustees (persons who through residence, occupation or employment, or otherwise have special knowledge of the town of Hythe). They are nominated by resolution of the Trustees for a term of 5 years.
Key Management Personnel
The Trustees consider the Trustees and the clerk to the Trustees comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The key management personnel are involved in all decision making and responsible for the day to day management of the charity. All Trustees give of their time freely and no Trustee received remuneration in the year.
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
REPORT OF THE TRUSTEES
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that 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.
Mr R C P Medlicott Trustee
Date: ….....................
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 6 to 15.
Responsibilities and basis of report
As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Act; or 2 the accounts do not accord with those records; or 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M A Wilkes FCA Azets Audit Services
…................................. Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
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Permanent Expendable
Endowment Endowment Unrestricted Total Total
Note Fund Fund Fund 2022 2021
£ £ £ £ £
Income from:
Charitable activities
Contributions received from residents - - 29,575 29,575 29,575
Investment income
Dividends received - - 1,116 1,116 3,422
Interest received - - 3 3 277
Total income - - 30,694 30,694 33,274
Expenditure on:
Charitable activities
Property running costs 3 - - 41,619 41,619 36,984
- -
Total expenditure 41,619 41,619 36,984
Net expenditure before
- -
gains/(losses) on investments (10,925) (10,925) (3,710)
Gain/(loss) on investment assets 7 (6,753) - (2,518) (9,271) 12,041
Net movement in funds (6,753) - (13,443) (20,196) 8,331
Reconciliation of funds:
Fund balances at 1 January 2022 30,698 991 212,649 244,338 236,007
Fund balances at 31 December 2022 23,945 991 199,206 224,142 244,338
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All recognised gains and losses are included in the Statement of Financial Activities
All income and expenditure derive from continuing activities.
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
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COMPARATIVE INFORMATION ONLY Permanent Expendable
Endowment Endowment Unrestricted Total Total
Note Fund Fund Fund 2021 2020
£ £ £ £ £
Income from:
Charitable activities
Contributions received from residents - - 29,575 29,575 30,175
Investment income
Dividends received - - 3,422 3,422 4,660
Interest received 21 22 234 277 305
Total income 21 22 33,231 33,274 35,140
Expenditure on:
Charitable activities
Property running costs 3 - - 36,984 36,984 26,647
- -
Total expenditure 36,984 36,984 26,647
Net income before gains on investments 21 22 (3,753) (3,710) 8,493
(Loss)/gain on investment assets 7 1,971 - 10,070 12,041 (24,594)
Net movement in funds 1,992 22 6,317 8,331 (16,101)
Reconciliation of funds:
Fund balances at 1 January 2021 28,706 969 206,332 236,007 252,108
Fund balances at 31 December 2021 30,698 991 212,649 244,338 236,007
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All recognised gains and losses are included in the Statement of Financial Activities
All income and expenditure derive from continuing activities.
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
BALANCE SHEET AS AT 31 DECEMBER 2022
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2022 2021
Note £ £ £ £
FIXED ASSETS
Tangible assets 6 29,745 33,163
Investments 7 140,406 168,534
170,151 201,697
CURRENT ASSETS
Debtors 8 1,162 3,609
Cash at bank and in hand 61,699 42,061
62,861 45,670
CREDITORS: amounts falling
due within one year 9 (8,870) (3,029)
NET CURRENT ASSETS 53,991 42,641
NET ASSETS 224,142 244,338
FUNDS
Permanent endowment fund 10 23,945 30,698
Expendable endowment fund 11 991 991
Designated funds 12 145,215 170,008
Unrestricted fund 53,991 42,641
13 224,142 244,338
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Approved by the Board of Trustees on …................................ and signed on their behalf by:
……………………….
Trustee
……………………….
Dr R Mohr Trustee
………………………. Mr R C P Medlicott Trustee
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
1.1 Basis of preparation
Hospitals of St. Bartholomew and St. John is a registered charity with the Charity Commission in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide accommodation for the elderly in need, who must be over the age of 60 and have lived in the Parish of St Leonards, Hythe for not less than 10 years.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2 Funds accounting Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Expendable endowment fund represents investments specifically named in the Scheme as forming the original expendable endowment.
Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that fund balance stated accurately reflects the designation policy adopted by the Trustees.
Permanent endowment fund represents investments specifically named in the Scheme as forming the original permanent endowment. Any appreciation arising from this sum is shown as part of the permanent endowment fund.
1.3 Income recognition
All income included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
1.4 Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
1.5 Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows:
Improvements to hospital - 10% reducing balance Computer Equipment - 3 years straight line
The ownership of the almshouses was transferred to the charity following the amalgamation of two previous charities. No value had previously been placed on the almshouses and the Trustees are of the opinion that to undertake a formal valuation would be cost prohibitive and therefore they are included at nil value.
1.6 Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
1.7 Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
1.8 Financial instruments
The trust 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.
1.9 Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.10 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believes that no material uncertainties exist. The Trustees has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
1.11 Judgements and key sources of estimation uncertainty
Accounting 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.
Depreciation
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the property plant and equipment, and note 1.6 for the useful economic lives for each class of assets.
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2 Permanent endowment invested on a total return basis
The charity has been granted the investment power of total return by the Charity on 7 August 1987. This power permits the Trustees to invest permanently endowed funds to maximise total return and therefore to apply an appropriate portion of the unapplied total return to income. The unapplied total return remains invested as part of the permanent endowment until that power is exercised. When exercised it allows the Trustees to apply an appropriate portion of the unapplied total return to income each year.
| At 1 January 2022 Unapplied total return Movements Dividend return Losses Net movement in the year Total |
Endowment for investment £ 30,698 - 30,698 - (6,753) (6,753) (6,753) 23,945 |
Unapplied Total Return £ 991 - 991 - - - - 991 |
Total endowment £ 31,689 - 31,689 - (6,753) (6,753) (6,753) 24,936 |
|---|---|---|---|
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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3. EXPENDITURE Direct Support Total Total
Costs Costs 2022 2021
£ £ £ £
Charitable activities:
Property running costs 29,488 12,131 41,619 36,984
4. SUPPORT COSTS Total Total
2022 2021
£ £
Depreciation 3,418 3,785
Subscriptions 383 182
Internet 397 377
Sundry 340 -
Contribution to Prioress's holiday 1,190 1,349
Clerk's salary 3,000 3,000
Governance
Bookkeeping 325 325
Clerk's expenses 600 600
Independent examiner's fee 2,100 1,920
Other accountancy costs - meeting attendance 378 420
12,131 11,958
5. TRUSTEES REMUNERATION AND EXPENSES
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The charity employed no staff during 2021 and 2022.
None of the Trustees received remuneration or reimbursed expenses during the year (2021: nil).
The Trustees consider the board of Trustees and the Clerk to the Trustees comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. As detailed above, no trustees received remuneration during the period. The remuneration to the key management personnel totalled £3,000 (2021: £3,000).
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 6. TANGIBLE FIXED ASSETS Improvements to the hospital and flats £ Cost As at 1 January 2022 and at 31 December 2022 114,487 |
|---|
| Depreciation As at 1 January 2021 81,324 Charge for the year 3,418 |
| As at 31 December 2022 84,742 |
| Net Book Value As at 31 December 2022 29,745 |
| As at 31 December 2021 33,163 |
No value has been placed on the original buildings, which date from time immemorial, as it is the Trustees' intentions to incur expenditure charged to revenue to maintain buildings in a satisfactory condition. The Trustees do not consider the expense of obtaining a valuation of the buildings to be justified.
| 7. INVESTMENTS Market value at 1 January 2022 Additions Proceeds Unrealised and realsied gains/(losses) Interest added in year Market value at 31 December 2022 The investments are categorised at the year end as follows: Quoted investments not listed on recognised stock exchange Cash on deposit Historical cost at 31 December 2022 of non-cash investments Major Components Cash on deposit COIF Investment Fund BlackRock Charities UK Bond Fund A Inc Invesco UK Equity income (UK) (no trail) income shares |
2022 £ 168,534 80,050 (98,910) (9,271) 3 140,406 96,697 43,709 140,406 90,050 £ 43,709 96,697 - - |
2021 £ 156,069 - - 12,041 424 168,534 124,829 43,705 168,534 23,443 £ 43,705 21,129 8,453 90,639 |
|---|---|---|
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 8. DEBTORS Prepayments and Accrued Income 9. CREDITORS:Amounts falling due within Accrued expenses 10. PERMANENT ENDOWMENT FUND Permanent Endowment Fund - 2022 Permanent Endowment Fund - 2021 |
one year Balance brought forward £ 30,698 Balance brought forward £ 28,706 |
Income Expenditure £ £ - - Income Expenditure £ £ 21 - Movement in Funds Movement in Funds |
2022 £ 1,162 2022 £ 8,870 8,870 Unrealised gains £ (6,753) Unrealised (losses) £ 1,971 |
2021 £ 3,609 2021 £ 3,029 3,029 Balance carried forward £ 23,945 Balance carried forward £ 30,698 |
|---|---|---|---|---|
The Permanent Endowment fund represents the value of the original investments defined as permanent endowment in the charity's governing document. Any appreciation arising from this sum is shown as part of the permanent endowment fund.
11. EXPENDABLE ENDOWMENT FUND
| Extraordinary Repair Fund - 2022 Extraordinary Repair Fund - 2021 |
Balance brought forward £ 991 Balance brought forward £ 969 |
Income Expenditure £ £ - - Income Expenditure £ £ 22 - Movement in Funds Movement in Funds |
Unrealised gains £ - Unrealised gains £ - |
Balance carried forward £ 991 Balance carried forward £ 991 |
|---|---|---|---|---|
The Extraordinary repair fund is for the purpose of providing for the extraordinary repair, improvement of rebuilding of the almshouses belonging to the charity.
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HOSPITALS OF ST BARTHOLOMEW AND ST JOHN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. DESIGNATED FUNDS
| Fixed asset fund Repair and renovation fund Total Fixed asset fund Repair and renovation fund Total 2022 2021 |
Balance brought forward 166,496 3,512 170,008 Balance brought forward 159,446 3,512 162,958 |
£ - - - £ 7,050 - 7,050 New designation New designation |
£ (24,793) - (24,793) £ - - - Designation released Designation released |
Balance carried forward £ 141,703 3,512 145,215 Balance carried forward £ 166,496 3,512 170,008 |
|---|---|---|---|---|
The Fixed asset fund represents the value of tangible fixed assets and investments designated by the Trustees to provide an income stream. This is to protect the charity should there be a fall in contributions from residents due to voids in the occupancy of the Almshouses.
The repair and renovation fund is to provide for future repairs and renovations for the flat-lets.
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Permanent Expendable Endowment Endowment £ £ Fund balances at 31 December 2022 are represented by: Tangible fixed assets - - Investments 23,945 991 Current assets - - Current liabilities - - 23,945 991 Permanent Expendable Endowment Endowment £ £ Fund balances at 31 December 2021 are represented by: Tangible fixed assets - - Investments 30,698 991 Current assets - - Current liabilities - - 30,698 991 |
Unrestricted £ - - 62,861 (8,870) 53,991 Unrestricted £ - - 45,670 (3,029) 42,641 |
Designated £ 29,745 115,470 - - 145,215 Designated £ 33,163 136,845 - - 170,008 |
Total £ 29,745 140,406 62,861 (8,870) 224,142 Total £ 33,163 168,534 45,670 (3,029) 244,338 |
|---|---|---|---|
14. RELATED PARTY TRANSACTIONS
There were no related party transactions during the year (2021: None).
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