KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
ANNUAL REPORT
YEAR ENDED 31ST MARCH 2023
HETHERINGTON AND COMPANY REGISTERED AUDITORS SECOND FLOOR, 289 GREEN LANES, LONDON N13 4XS
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
YEAR ENDED 31ST MARCH 2023
INDEX
Page No.
| nh | Trustees and main agents oftheCharity |
|---|---|
| 2-6 | Trustees' report |
| 7 | Independent examiners' report |
| 8 | Statement offinancial activities |
| 9 | Balance sheet |
| 10-15 | Notestothefinancialstatements |
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST TRUSTEES AND MAIN AGENTS OF THE CHARITY
YEAR ENDED 31 MARCH 2023
TRUSTEES
Mrs G Falkus (Joint-Chair) Mrs C Yardley (Joint-Chair) Mrs C David Mr P Kraus Dr A Hamilton Mrs W Roberts Ms N Child Mr R O' Callaghan CLERK TO THE TRUSTEES
Kristin Bayne
PRINCIPAL OFFICE
Richford House Grove Mews London W6 7HS
BANKERS
Santander Bridle Road Bootie, Merseyside G1R OAA
INDEPENDENT EXAMINER
Mr Mario Koureas Hetherington & Co Chartered Certified Accountants’ Second Floor, 289 Green Lanes Palmers Green London N13 4XS
BROKERS
Cazenove& Co 12 Moorgate London EC2R 6DA
SOLICITORS Payne Hicks Beach 10 New Square Lincolns Inn London WC2A 30G
1
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31ST MARCH 2023
The Trustees present their report together with the financial statemenis of the Charity for the year ended 31st March 2023. The Trustees confirm that the annual report and financial statements of the Charity comply with the Charities Act 2011, the requirements of the Charity's governing document and with 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 (FRS102) effective 1* January 2015.
Structure, governance and management
The Charity was set up by order L2/210931 of the Charity Commissioners on 7th November 1974 (as amended on 21st January 2002) and continues to be governed by the said Trust Instrument.
According to clause 19 of the Trust instrument the income of the Charity must be applied in pursuance of the Charity's main objects. This is subject to the Charity having firstly discharged the administrative and management expenses for the year (clause 17} and any pensions or grants payable in cases of need to retired persons who were formerly employed by the Charity (clause 18).
According to clause 20, the Trustees may not apply income directly in relief of rates, taxes or other public funds but may apply income in supplementing relief or assistance provided out of public funds. They are also prevented from committing themselves to repeat or renew the relief granted an any occasion in any case. The following general restrictions also apply to the Trust:-
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The appropriation of income of the Charity can only be made by Trustees at meetings of their body. In exceptional circumstances the Chair may authorise a grant for an individual, to be ratified thereafter at the next meeting of the Trustees.
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Trustees are not entitled to receive remuneration or be interested in the supply of any work or goods at the cost of the Charity.
Appointment of Trustees
The terms of the Trust instrument require future Trustees to be appointed by a resolution passed at a special meeting of Trustees of which not less than 21 days’ notice is required. Each appointed Trustee is to serve for a period of five years and must declare willingness to act as Trustee of the Charity by signing a declaration of acceptance in the minute book. No Trustee will be appointed to serve for more than two consecutive terms. A Trustee must not be re-appointed within one year of the end of his or her second term. The Trustees may in exceptional circumstances appoint a Trustee to serve for a third consecutive term.
induction and training
Trustees are chosen according to their experience, and it is ensured that the Board is made up of a balance of expertise appropriate to the needs of the Trust. From time to time Trustees draw on their talents to share their expertise with the others. On occasion this may happen in order to make a specific decision about grant giving.
2
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31ST MARCH 2023
All the Trustees read the Charities Commission’s leaflets on the duties of Trustees, especially with regard to legal issues and the skills register. The Clerk ensures that Trustees have sufficient information about organisations with which the Trust is in touch, particularly concerning their financial affairs, before decisions are made.
Management
At the half yearly Trustees’ meetings, the Trustees agree on a broad strategy and area of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. The day-to-day administration of grants and processing and the handling of applications is delegated to the Clerk to the Trustees.
The Trustees who served during the year under review were as follows:-
Mr R Baker {resigned 12 July 2022}
Mrs C David Mrs G Falkus DrA Hamilton Mr P Kraus Mrs C Yardley Mrs W Roberts Mr R O'Callaghan (appointed 14 June 2022) Ms N Child (appointed 14 June 2022)
Risk policy
Since the Trust does not undertake fund-raising activities, its chief risk is bound up with its investments, their value and their generation of income. The Trustees recognise this and regularly review and monitor the performance the Trust’s investment portfolio in order to reduce as far as possible exposure to potential losses, and to improve growth.
Objectives and activities
Summary of the main activities of the Charity in relation to its objects
The objects of the Trust are to relieve cases of need amongst persons resident in the Royal Borough of Kensington and Chelsea or in the adjacent area who are sick, convalescent, disabled, handicapped or infirm.
Public Benefit
The Charity Commission in its Charities and Public Benefit Guidance requires that there are two key principles to be met to show that an organisation’s aims are for the public benefit. Firstly, there must be an identifiable benefit. Secondly, the benefit must be to the public or a section of the public.
3
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2023
Public Benefit
The Trustees confirm that in setting the Charity’s objectives and in planning its activities, they have had due regard to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and objectives. The Trustees are satisfied that the Charity has met the requirements of the public benefit guidance
Main activities undertaken by the Trust to further its charitable purpose for the public benefit
As in previous years, the main activities of the Trust to further its charitable purpose for the public benefit were:
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1) To provide or pay for items, services or facilities, which are calculated to relieve suffering, or assist the recovery of such persons in such cases but are not readily available to them from other sources.
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2) To make arrangements for such services or facilities to be provided for that purpose by other institutions or organisations in return for subscription out of the income of the Charity.
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3) In exceptional circumstances, apply the income of the Charity for the benefit of a person who lives outside the area of benefit but is otherwise qualified. The number of persons benefiting under this provision must not exceed one third of the number of beneficiaries at any one time.
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4) Continue to focus on its objectives and work closely with other Charities and organisations, by making available grants in pursuit of their charitable aims
Grant policy
The Trustees continue to award grants after careful consideration of each application and to ensure that such awards meet the stated objectives of the Charity as detailed above.
Joint Chairs’ review (including achievements and performance delivered for the public benefit)
The Trustees have carried on meeting in person thanks to the generosity of Dr Hamilton who once again offered her living room for the purpose. In July 2022 the Trustees accepted the resignation of Mr R Baker. The Trustees thanked him for all his support since 2004. In June 2022 Mr R O'Callaghan and Ms N Child were appointed. Mr O’Callaghan is a journalist who has volunteered in RBKC and Ms Child is a local resident with extensive volunteering experience in the area.
Our grants to individuals amounted to £60,791 this year, divided among 141 people which is a smaller amount divided among more recipients than the previous year. Last year the Trust gave £63,087 to 136 people. This is despite a significant rise in the cost of electrical appliances and furniture. Waste disposal and connection costs have also increased. The Trustees have been very mindful of the restricted funds available to them and have continued to limit awards made to any one individual or family. It was noticeable again this year that most applicants now cite mental rather than physical disabilities as the reason they are struggling financially.
Ongoing financial uncertainty in the UK and overseas, has led the Trust again to concentrate its resources on grants to individuals rather than the organisations who were previously supported. This decision has been discussed twice over the course of the year and will be kept under review subject to the cash balances of the Charity.
4
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2023
Financial review
As in previous years the Charity’s revenue derived mainly from interest and dividends received from its investment portfolio. For the year under review the value of our investments fell in overall terms by £62,630. The decrease was mainly due to the downturn in the global economy (including the cost of living and energy crisis). The value of the portfolio is significantly more than the original cost of the investments held.
Expenses were again kept under control in the year under review. The Charity generated a net surplus on general funds of £7,368 (2022: £15,276). The surplus is stated after adjusting for both realised and unrealised losses (£4,842) relating to the investment portfolio. The permanent endowment fund shows a deficit of £57,675 arising in the year (2022: surplus £287,583) and this too is stated after adjusting for losses, both realised and unrealised, on the investment portfolio.
At the year- end date, the Charity held £158,797 in general funds and £2,299,904 in the permanent endowment fund.
The Trustees are confident that the Charity remains in a secure financial position.
Investment policy
The Trustees’ policy over their investments is that they should achieve a maximum current income consonant with the intention that, in the longer term, the income stream must increase by at least the rate of inflation. To do this, the Trustees, together with their investment advisers, will continue to monitor the Trust’s portfolio.
Reserves policy
The Trustees regularly monitor the level of income reserves available to ensure that the Charity is able to discharge its administrative costs as well as give donations that are affordable. The Trustees also consider the level of reserves held at any given moment should be sufficient to cover exposure to any significant unforeseen loss of income and to ensure the short-term liquidity and long-term financial stability of the Charity. The policy would also allow the Charity time to consider and respond to its responsibilities.
5
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31ST MARCH 2023
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).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
eselect suitable accounting policies and apply them consistently;
eobserve the methods and principles in the Charities SORP;
emake judgements and estimates that are reasonable and prudent;
estate whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financia! statements; and
*prepare the accounts on a going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved on behalf of the Board of Trustees on 14 November 2023 by:
----- Start of picture text -----
Mrs G Falkus (Joint Chair)
Con )
Mrs C YardleyDit(Joint ChairYdfe
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6
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF THE
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
| report to the Trustees on my examination of the accounts of the Kensington and Chelsea District Nursing Trust for the year ended 31st March 2023, which are set out on pages 8 to 15.
Responsibilities and basis of report
As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act').
| report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
] have completed my examination. | 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:
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® accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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e the accounts do not accord with those records; or
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e 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.
| 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 Koureas FCCA For and on behalf of Hetherington & Co Chartered Certified Accountants Second Floor, 289 Green Lanes, Palmers Green, London N13 4XS
Dated: 14 November 2023
7
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
| General | Endowment | |||||
|---|---|---|---|---|---|---|
| Note | Fund | Fund | Total | 2022 | ||
| £ | £ | £ | £ | |||
| INCOME &ENDOWMENTS FROM: | ||||||
| Donations & Legacies | 2 | 600 | - | 600 | 600 | |
| Investment income | 2A | 91,002 | - | 91,002 | 87,871 | |
| Total income | —_94,6020 | 902 | 88,471 | |||
| EXPENDITURE ON | ||||||
| Raising Funds | 3 | 162 | 5,227 | 5,389 | 5,205 | |
| Charitable Activities: | 5 | 79,230 | - | 79,230 | 82,255 | |
| Totalexpenditure | — 19392 | S227 | 84,619 | 87,460 | ||
| Net income/ (expenditure) forthe year | ||||||
| beforegains (losses}on investments | 12,210 | (5,227) | 6,983 | 1,011 | ||
| Netgains (losses)on investment assets | 9 | (4,842) | (52,448) | (57,290) | 301,848 | |
| Net Movement in theyear | 7,368 | (57,675) | (50,307) | 302,859 | ||
| Reconciliation offunds | ||||||
| Totalfunds brought forward | 151,429 | 2,357,579 | 2,509,008 | 2,206,149 | ||
| TotalFundscarriedforward | £ | 158,797 | £ | 2,299,904£ | 2,458,701£ | 2,509,008 |
The notes form part of these financial statements
8
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
BALANCE SHEET AS AT 31ST MARCH 2023
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2023 2022
Note £ E. £ £
FIXED ASSETS
Tangible Assets 8 171 342
Investments 9 2,413,538 2,476,122
2,413,709 2,476,464
CURRENT ASSETS
Debtors 10 1,195 1,007
Cash at bank and in hand 49,516 40,818
50,711 41,825
CREDITORS: Amounts falling
due within one year 11 (5,719) (9,281)
NET CURRENT ASSETS 44,992 32,544
NET ASSETS £ 2,458,701 £ 2,509,008
REPRESENTED BY:
General fund 13 158,797 151,429
Endowment fund 14 2,299,904 2,357,579
£ 2,458,701 £ 2,509,008
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Approved by the Board of Trustees on 14 November 2023 and signed on its behalf by:
GA Fabs sn G Falkus (Joint Chair) sons ‘ ‘) tan as. Mrs c Yardley (Joint Chair)
The notes form part of these financial statements
9
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023
1 ACCOUNTING POLICIES
The principal accounting policies, all of which have been applied consistently throughout the year, were as follows:-
1.1 Basis of Accounting
The accounts (financial statements) have been prepared in accordance with the 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 (FRS102) (effective 1st January 2015), The Charities Act 2011 and applicable regulations.
1.2 Going Concern
The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast doubt on the ability of the Charity to continue as a going concern.
The Trustees have assessed the impact the downturn in the global economy {including the cost of living and energy crisis) may have on the Charity's forecast and projections and have made this assessment for a period of at least one year from the date of approving these financial statements.
The Trustees have concluded that the Charity has sufficient resources to continue in operational existence for the foreseeable future and consequently it appropriate to continue to adopt the going concern basis in preparing its financial statements.
1.3 Income
- Voluntary income including donations, gifts, legacies or grants from various individuals, corporations and charitable foundations are recognised where there is entitlement, any conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Such income is only deferred when:
a) The donor specifies that the grant or donation must only be used in future accounting periods. b) The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of the donation.
All incoming resources are reported gross before expenses.
1.4 Resources expended
- Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the categories.
Grants payable are payments to third parties in furtherance of the Charity's objects. Grants are accounted for when the recipient has a reasonable expectation that they will receive the grant unless it is conditional. Provision for grants is made if the Trustees have conveyed their intention to the recipient.
Resources expended include VAT which cannot be recovered.
,
10
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
1 ACCOUNTING POLICIES- Continued
1.5 Allocation of governance and support costs.
Support costs relate to those costs incurred directly in support of expenditure on the Charity's objects, which cannot be directly attributed to particular activities.
Governance costs include those costs incurred in the governance of the Charity and are primarily associated with constitutional and statutory requirements. Both support and governance costs have been allocated in full to the Charity's sole activity being that of providing grants in accordance with the Charity's stated objectives.
1.6 Cost of raising funds
The cost of raising funds relate to investment management fees.
1.7 Charitable activities
- Charitable activity costs refer to those costs which represents those specific grants provided during the year to meet the Charity's stated objectives. Such cost also include support and governance costs.
1.8 Tangible assets
Expenditure on tangible fixed assets for the Charity's use are capitalised at cost to the Charity. Depreciation is provided at 33% per annum ona straight line basis.
1.9 Investments
- Listed investments are stated at market value. The market value is based on the middle market price. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
1.10 Realised gains and losses
- All gains and losses are taken to the statement of financial activities as they arise. Realised gains or losses on investments are calculated as the difference between the sales proceeds and the opening market value {purchase date if later}. Unrealised gains and losses are calculated as the difference between the market value at the year end and the opening market value (or purchase date if later). Realised and unrealised gains are not separated in the statement of financial activities.
| 2 | DONATIONSAND LEGACIES | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Donationsfrom individuals | 600 | 600 | |
| 2.1 | INVESTMENT INCOME | 2023 | 2022 |
| £ | £ | ||
| UK equities | 90,919 | 87,869 | |
| UK Bank interest | 83 | 2 | |
| 91,002 | 87,871 |
11
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023
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|||||||
|---|---|---|---|---|---|
|3|COST OF|RAISING|FUNDS|2023|2022|
|£|£|
|Investment managers|safe|custody|fees|5,389|5,205|
|Support|costs|-|-|
|5,389|5,205|
----- End of picture text -----
4 ALLOCATION OF SUPPORT COSTS AND OVERHEADS BETWEEN FUNDS The basis and allocation of support cost is as follows:-
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||||||||||
|---|---|---|---|---|---|---|---|---|
|General|Endowment|Total|
|Funds|Fund|allocated|2022|
|£|£|£|£|
|Staff costs|Time|14,233|-|14,233|14,970|
|Depreciation|usage|171|-|7A|171|
|Other|office|costs|usage|75|-|75|565|
|Independent|Examiners|Fee|3,960|-|3,960|3,462|
|£|18439|£|-|£|18,439|£|19,168|
|5|CHARITABLE|EXPENDITURE|-|GRANT|MAKING|
|Institutions|Individuals|Total|2022|
|i|£|£|£|
|Grants|(see|note|5.1)|ss|60,791|60,791|63,087|
|Support|costs|-|18,439|18,439|19,168|
|£|-€£|79,230|£|79,230|£|82,255|
|5.1|ANALYSIS|OF|GRANTS|FUNDED|
|Total|income|for grant|distribution:|£73,163|(2022|- £69,303)|
|2023|2022|
|£|£|
|[||Major grants|to|institutions|-|-|
|Il|Individual|case grants|-141|{2022|-|135)|60,241|62,537|
|Ill|Christmas|gifts to former|K&.CDNT|staff|(in|accordance|550|550|
|with|clause|18|of the Trust|Deed)|
|Total|f|60,791|£|63,087|
|At the year end|date|the Trust was|not committed to|pay|any further grants.|
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12
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023
6 ANALYSIS OF STAFF COSTS
| ANALYSIS | OF | STAFF COSTSCOSTS | 2023 | 2022 | ||
|---|---|---|---|---|---|---|
| £ | ra | |||||
| Salary | 14,000 | 14,795 | ||||
| Pension | 233 | 175 | ||||
| £ | £14,233 | £ | £14,970 |
The average number of employees during the year was 1 (2022: 1). No employee earned more than £60,000 . The Trustees did not receive any remuneration (2022-£Nil) nor were they reimbursed for any expenses incurred during the year.
- 8 TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | Office | |
|---|---|---|
| Equipment | ||
| Cost: | £ | |
| Balance broughtforward 1stApril 2022 | 513 | |
| Additions in theyear | - | |
| Disposals | _ | |
| At 31st March 2023 | £ | 513 |
| Depreciation: | £ | |
| Balance broughtforward 1stApril 2022 | 171 | |
| Eliminated on disposal | ~ | |
| Charge foryear | 171 | |
| At 31st March 2023 | £ | 342 |
| Net book value at 31st March 2023 | £ | 171 |
| Netbookvalueat31stMarch2022 | £ | 342 |
13
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2023
| 9 | INVESTMENTS | 2023 | 2022 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Market Value as at 1st April 2022 | 2,476,122 | 2,179,351 | |||
| Additions to investments at cost | - | 140,068 | |||
| Disposals proceeds | (5,340) | (145,145) | |||
| Realised and unrealised gains forthe year | (57,290) | 301,848 | |||
| 2,413,492 | 2,476,122 | ||||
| Cash held with brokers | 46 | - | |||
| Market Value asat 31st March 2023 | £ | 2,413,538 | £ | 2,476,122 | |
| Investments at market value comprise: | £ | £ | |||
| UKequities | 2,413,492 | 2,476,122 | |||
| Cash held with brokers | 46 | - | |||
| £ | 2,413,492 | €£ | 2,476,122 | ||
| Historicalcostasat31stMarch2023 | £ | 1,772,450 | €£ | 1,776,356 |
All investments included in the portfolio are held in the United Kingdom. Included within the portfolio of investments held, are investments with a market value of £113,588 (2022 £118,543) which belong to the general funds of the Charity.
9 INVESTMENTS- continued
Investment in individual entities held at 31st March 2023 which are over 5% of the portfolio by value are:
| £ | |
|---|---|
| Cazenove - Equity IncomeTrust For Charities | 1,184,389 |
| M&G Global Dividend Fund | 1,080,820 |
| COIFCharitiesEthicalFund | 134,037 |
14
KENSINGTON AND CHELSEA DISTRICT NURSING TRUST
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023
| 10 | DEBTORS | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Sundrydebtorsand prepayments | 1,195 | 1,007 | |||||
| £ | 1,195 | £ | 1,007 | ||||
| 11 | CREDITORS -AMOUNTS FALLING | 2023 | 2022 | ||||
| DUEWITHINONEYEAR | £ | i | |||||
| Grants payable | 854 | 4,341 | |||||
| Other creditors andaccruals | 4,865 | 4,940 | |||||
| £ | 5,719 | £ | 9,281 | ||||
| 12 | ANALYSISOF NETASSETS BETWEEN FUNDS | ||||||
| General | Endowment | ||||||
| Funds | Funds | Total | |||||
| £ | £ | £ | |||||
| Investments | 113,588 | 2,299,904 | 2,413,492 | ||||
| Cash with brokers | 46 | - | 46 | ||||
| Fixed assets | 171 | - | 171 | ||||
| Currentassets | 50,711 | - | 50,711 | ||||
| Creditors | (5,719) | - | (5,719) | ||||
| £ | 158,797 | £ | 2,299,904 | £ | 2,458,701 |
12 ANALYSIS OF NET ASSETS BETWEEN FUNDS
13 GENERAL FUND
The General fund consists of those funds which the Trustees are free to use in accordance with the charitable objects of the Trust. At the year end date, general funds included £9,206 (2022 - £14,079) of unrealised investment gains.
14 ENDOWMENT FUND
The endowment fund represents those assets (principally investments) which must be held permanently by the Charity. Income arising on the endowment fund can be used in accordance with the objects of the Charity and is recognised as general fund income. Any capital gains or losses arising on the investments form part of the fund. At the year end date, the endowment fund included £631,836 (2022 - £685,687) of unrealised investment gains.
15 CONTROL
The Charity is controlled by the Trustees.
16 RELATED PARTY TRANSACTIONS
The were no disclosable related party transactions.
15