REGISTERED CHARI NUMBER: 214422 Re ort of tho Trust80s aEk Flnanclal Stateme for tho Y•ar Endèd 31 ecember 023 for The Fl Fund INright Irigar Lirnit8d stst0ry AuditOTS Chartered Accountants & 8usiness AdMserB Alenra House 43 Agxandro $1 Nottin9h8m Nottinghamshire NG5 1AY
The Fl Contents of th• Flnaneial Statements for the Year Ended ecembor 2023 Pagg Rgfer8ncg ond Admlnlstrallve Dotalls R•port of tha TfuBt885 2 to 4 Report of the Ind•pgndentAudltors S to 6 statement of FJn¥nclal AcltvlUe$ Balanco Shget Nots$ tts the F5nanclal Statomgnts 9 to 13 Oetalled Statemant of Flnan¢lal A¢iivitie8 14
The Fl Fund Rèfer•neè and AdMInl$tratl Dètails forth8Y ar E ded 31 Dv¢•mbar 2023 TRL15TEES Rev A J Cartight, Chair ofTMste88 Mr M Jenkinson Mr N V T8mplin Mrs J P Imrie DrDWHann PRINCIPAL ADDRESS Pennine House 8 Slanfoid Street Nottingham NG1 7BQ REGISTERED CHARITY NUMBER 214422 AU(wfoRS Wright Vig8r Limited stalulory Aud¢tOTS Chartered Accountsnts & SiN8sS AdwT8 Alexandtx HorK8e 43 AlexarKSra St Noltingharn Nottynghamshire NG5 1AY SOUCITORS Nelsons Soli¢itors Pènnine House 8 Stsrtrford Street Nottingham NG1 7BQ BANKERS Bardays Bank plc PO Box 18 Old Market Sware Nottinghwn NG1 EFF Page 1
Th? Fl Fund R& ort of tha T st998 lor th¢ Yoar Endèd 31 December 2D23 The trusteès psent their report and the audited financial Statents of the charity for the year ended 31 December 2023. The trustees have adoptsd the provisions of tha Stst8ment of Rewmmended Practice ISORPI 'A¢counting and Rgporw by Charities" {FRS1021 in praparing the annual report aThJ ffinancial statornènts of the charity. The financial statEments havo bgen prepared in accordance with th8 accounting policies set out therein and compjy wth the charity'5 govemlng document, the Chariti&s Act 2011 and Accounting and Reporting by Charitiès.. Statement l R8mended Practice applicable to charities preparin9 their accounts In OrdanC with the F)881 ReporliThJ Standard applicabb in th9 UK and Republic of Iland pubfsshed in October 2019. OWECTIVES AND ACTIVITIES ObJgCtlvgs and alms The Obits ol the Charity ara sèt out in the charitys trust deed and afB ¥urnmarised as follows,. to provida ben8fit lo the public through ralièf to Persons tesid8nl in Nothnghamshlre who or¢ In nged. hardship or distress. The objectives are set to rellect ow comrnunity avns. Each year the twsle¢s the objectives and sctiwties to ensure they eonts.nue to retlect the aims of the charity. In carying out this review. the irusteès have considered the Chattiy Commi55ion's guKlance on publc benefit At th& qUBrtorfy meeting the lev9101 income not utili8ed i5 consid•rÈd and, rf considered approptiate, fvnds arg donated to ¢haribe5 Wtth sirnilar aims to The Fity Fund on tha basis that such funds are used to help IndMdual$ and families in no•d ¥nd who are resllent in Noilinghamshire. en making such donations tho tntstèès wll BayS bear in min(F the need lo maintsin adewats serVEs. PubIle bènèfit The truste8s have gwen due corsideration lo tho Charty ComMiss'S publish8d guidan¢x on the operation of public bgnefit requirement. ACHIEVEMENT AND PERFORMANCE Adivities and Achlevemonts The actiwti8s ol thè charity during the year are detailed below. Yh& fntstses consider that th6s6 Sltres have proThled b8neffit to thosa in need whhin Nottiham$hlre. During the year the charity was aLle to as81s11 individual beneflary on a ragular bLS and a fvrther 22 indwidual beneflaries were helped on a'on9-off basis. This help totalled £9.177. In addittDn, 74 charitte5 hawng similar aims and operating within Nottinghamshirg rece grants to assistwth th811vtOlalling £169,03612022.' £200,727). The Ststement ol Financial sh¢)w5 lotal net outgoing r6sour(%s fore revaluations and disposals of invtrslrnenl assets of £28,434 {2022- £58,343). The level of actiwty for the year satisfactory and the Irustaès hopè Ihat thss will cc4)tinuè ta improve for the foSee3bte tutUlE. Th8 cumulatwe balance of acujmutated funds at the yearend was £8.6D7,84712022." £8,411,338). Ng intsresl free loans were grant8(I duiing thÈ y88r12022.. £Nil). Duriro thè yÈ8r 39 applications were decffned," 29 petsonal and 10 char1table1222.' 36188 being considered to be autsÈd8 the objeds of Ihe charity. Inv•stm•nt Policy and rfoanCe In a¢xoidance with the trust deed. tha trustsès have the power to int in such stocks. share3 and investments in thè UK as they See fit. The policy ol tha is to 8dopt a medium wisk investrnent thatsgy based on maximising in)m&. This poficy has been l<AJowed during the year as shown by the total dwidend income received of £229,658 (2022.. £232.8201. During 2023 the valuation on tha portlolso increased as a result of rnode51 improvements to economic ronditions and the financial markeis. In order to prol$¥l Ihg level of income th• trustaès have agr88d, on the advi ol the invoslmert manager at Br8win Dolphln. to have approximately 30% of the portlolio in ffixed interest assets. Given tha prèsent state of the fixed intete5t Markets, th8 Trustees have agieed tfriat the investment manager shall only place tunds into Ihis sector if they 1891 lh& stod( in question offets sufficient value. By the end of thè yèar Ihe fixed irbtesI part of the y)rtf(Aio stocxl at approxHxatèty 260/0 12022.. 23°hl. The trustees hold at 198811 years. worth ol charitabla spending in cash or cash Èquivalents. FINANCIAL REVIEW Grant Maklng Pollcy The trustees meet quarterly to conskl8r applications for the issue of grants. Grants arB onty made ilthe trustees consKl8r them to be appropraat& and in accordance wlh the objects of the Charity. Th? day lo day administration of grant8 delegated to th6 secretary and administrator. Pag& 2
Tho Fl Fund Re rt of thè Trusté•# for th• Yoar Endèd 31 Decem r 2023 FINANCIAL REVIEW Plan$ for Ihe Future Thè Fifty Fund is slrèady well krwn among many ¢f ihe aid a9encies in Notbngham and it is from thesè Ihat most pot6nb81 new benefiae$ arise. Thèse links wll be encouraged throughout the Goming year and wher• possib th8 exK%tence of the charity wll be madè known through other avenues. Dug to the size ol the assots and income of the Hrity, it appears in several guid6S to national charities resulttng many enquiries being received Irorn such sources. When such enquittES are in line with the c&jects of thè Charity they will be k)Ilowed thiouglL Re¥gr¥ poli¢y The twstees havè a policy for wtlhdrawal Df fiJnd5 whieh aims to maintain and, wherE POS51bb, increase th• cunBnl value of resErves. value of total reservtrs also maintained to an adequats level in order to provide sufficient incomè to o)ntinue to issue grants wtthin 10% of the level in the currènt yÉsr. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov8Mlng document The Fifty Fund is an uThncorpotsted trust ¢reated by deeds dated 21 April 1939 and Is a reglstèrèd charity. number 214422. The Fify Fund is govarnèd by the Stheme ofAmatgamation ofthe Charity Commission dated 28 Jun8 200S. Trust8es are 8ppointed by deed of appoinknent by the conts"nuing tru8tee8. The Scheme allows for srx truste8$ in lotal, 8 appointment of a tiustee Ing made ata special meètityj of tfUsts9s. There is tim8 limf( on 8ppainkngnts. The Trustees tneet qvartorfy to agree bmad stratègy. cttnsideralion of grant rnakiRg. invfjstment risks. manag6m8nt and rgserves. The day to day administration of grants and the processing and handling of applications Fmior lo con8Mleraion by the trustees is delegsted to the secretsry and administrator. In thE event that a trustee retires th8 rèmaining truste8$ will recwit a new tw$lee wth qualities. skills and experien which are considered 4)ptDpriate to compliment those of tha eonltnuing trustees. The Induction pr¢¢es8 for a new tnJste& CDrnP8as an initi81 meeting wilh thé Chair of Ihe trustee5. the provision of infomi8lK)n on th8 origin of the tharity and ils current overall objects, after which they will attend thtrir first tNstses meeting. Rjsk managèmènt The TSto$ have considered tho m#j(>r risks to which the ch8tity is QXFX)8ed and have ravi6w these risks arKI e8tsblished systems and proc•dur8s to manage these risks. The Trustses consider that Ihe main rtsk to the income and capital of th6 charity ara movernents in the stock morkeL To thi3 end the portfolio i5 managed on a discretionary basis by BrewEn Dolphin Limited and investrnènts arè reviewed on a haff yearfy basis. The Trustees have 8gr6Ed dear lines of delfgatK)n and authority to ona or the Itustees and vieW this froEn to lime. As the Country has moved past ihe dismpts.ttns <xused by the Covid pandeml personal support and based cha11?5 have now re-opened their offices and centres. Fundraisin9 Sctivities have ¢onsequenty returned to nom)al methods of delivery, inthding in p9rson ¢oJlections and charity shcys. No mabrial unc£rtainbes that may cast significant doubt about the ability of the charity b conlinue as a goiTrJ concem have been identified by the trusbo5. The trustees hav8 consiiJ6ied Ihe ability to continue as a goin9 c¢Mcem lor a period ol one year from tha (tste ol signing th8 finanoal ststements. Pa3
ortol orth• Y•a TRUSTEES. RESPONSIBILITY STATEMENT The charfty trustees are re$tx)n$Wè for prewng the Tru51¢¢¥' knnu81 R8pyi and finandal 8talements in accordance wlth ap1catht law and United Kt"wdom Accounting Slandar¢s {United Kly1om Gpnerally knepl8d A¢ctyJnt¥ Practte). The law 4plic8bla to ch8ri11es In England and W818s requires th8 tru8teB5 to wepere financial Slalements for each rin8ro81 year whth 9we 8 true 8nd fpir view ol thB 818le of affair5 of the ch8ftty and or th• IncDMg r8source5 and applICaOn ol r8rCeS of tho charly tor th8t P9rlod. In preparing finandal 8tstement4 th? tru8ts86 ar8 wuired to.. - seknt suitable accounling policies and Ih•n •pythern consi5tenty.' - obs•Ng th8 ffl8llbJd8 and phndtyes In Ihè Ch8nl*6 SORP 2019 IFRS1021: . makeludg•ments and 8slrnates that are r888onat4e and prndanl.. - stale wh81h8r 8PF41cabb a¢countirffJ 8tand8rd8 hwe boan fr4bw8d. subject to any matyigl departur•s dlsclosgd 8xpJalned kn Ihg fnCial stat•mtnts: an - prepa the fmancial 5tat8rn8nts on Iho going corKem basls un18$5 il inappToprète lo we5umg Ihel th& charfty bnug in operatkn. Tho trust8es ar8 r88ponsble fDr keeplng proper aling f8wrds that dlsdosa wlh r8asonable &(yJrw at any time the fanCial p05ibon oflh8 charFty and enabl¢ thgm to ensure that the financlal statements compty wlth Ihe Charit Act 2011, the cha&$ IA¢counls and Report81 RegUlatin$ 2008 8nd thB prDVi5ions of the Iw81 deed. Thoy 8r2 SL80 reSpSIb for safegvaréing Ih8 assets ol the chaiity and for takin9 reas(xvable steps for thè prevenllon 8r¥J doled1 offrdud and otsr Irregulaiili88. Approved by ordar ofthe t#)ard of Intsfees on and Sign on Ms b&haf by. rtwryht- Page 4
nd8nt dlto to stees of Oplnlon We ve audit8d the finantr81 Blatemenls of The Ffjty Fund (the charity'i for th8 yaar ended 31 Decembsr 2023 whth comwls8 the Staternent ol Finandal Actlvtil88. thg B818rtce Sheel and [•8 tc+ th8 finanGHI Staten{s, InudIng mmary of SIgn3n1 accountiro polid8s. The nan1 reporting framework that hgs beon 8ppll8d in their pr8par8JoTh 18 appltabl8 lawand United Kingdom ACUntIng Stsnoards (United Ifingdorn Gener8tyA¢cepfed Accounting P[x(e In cwroptnion th8 firndal st8tèments: a true and falrv18wof lh8 Slate of the charflys affalr8 as at31 December 21J23 and of118 Incomlng r8801trcBs and applicatlon ofrgsources, for yearthon erthi5.' have been praperfy pr8p3red In accordanc8 wlth Unitod Klngdom Generally Accepted AccounllThJ Practkg., and have b8en prepared in accordarKe wth the requtrements Ofthe Charfes kt 2011. Ba¥lB for oplnlon We CdCted our audit In arwftJae Interftètional Stan¢Jards on Audlllng (UK) (ISAS {UK)18nd 8ppIEcabt8 Faw. Our re5pJnslbiltiie8 under Ihos• gtandards are furthèr described In the Authtors, r8SrKTrllIUsS for the audit of the finanLyat st8t8rn•nt5 5eclion ofuur report. We aro independent of thp Gharity in COrd8Ce with the elhlcal wulTements Ihat are relevaTrt to our auditolthe finar181 ststefflents in the UK. Includlng the FR¢'s Stand8rd, and we hav8 fulrdleil our other elhical responsibifrtles in a(X0rdan with the8e requirements. WÈ b81ieve Ihat the autht evidenco we have obtn+ Is suffioent anrl approwiate to provide 8 basts lorour 0mlOn. Concluslons relalfnll to golng concern In 8udlUng Ihe fin8nrJal ststernents. w8 havè L¥XudQd that h9 IFU8t8es' USE of the golrKJ EonE8m t81$ of untIng In the preparalioft of the hlnancial slHternent$ is appropriate. Based on the worf( have pertormÉd, w8 have not Kl8n'fied Èny malartal uncertainl1 rolaling to ev8nts or CndlI that. Individually or ltiV81Y. May tast 5(gnificant doubt on tha cttaAtys ablllty to conllnue as a golryJ conc8m for peritrj of 8t lea5llwelve months from vAten the Inanel ¥lalernents ar6 8ulhorf8ed forFSSU8. Our ra$ponsirItIeS Bntl the r68tKmslbilitiBS of lh& tsuste65 wlth resp to gdng ¢on¢¢m are deguibEd In the relevant 89Ctlorts of Ihls r8POrt. Oth¢rlnformatlon tnJst898 are rB5Fon8ib18 lor the oiher inf0m78t1. The other Inforfflallon cornpris&8 th& Inf0Ml)n }lded in tho Annual Report, olhprthon the lfjnanu81 ststements and our Report ofthe Independont Auditor5 the¥eon. Ouroplnlon on the finaftclal statèmntsthes rNAcov8rthe olherinfomwknon and. ¢x¢epl to thè ext8ntotherwls• èxplkitly Stated In outreport we do not express èjw fDrrn of as5uranco condusion ther80 connl)n with our audit of th6 ffftan¢ial $tai6menX our re¥on$ibillty Is to the other Infornalan and. in doifjg 80. considèr whether thB l)ther 5Rforman mBtÈrio1ty InCOr[sIenl wilh Ihe frarla1 st8t8ments oi our knowledg• Obtain in lh6 audii or otheFS aPPEars to be nwteri811y mE$51ated. Ef we Identify such materlal InconstenC1eS or apparent material misstalemonts. we are requlr8d to dolemiine whethw Ihls rise to a material mlsslatem8nl the Ilnancjal ststemeTrts th9rnsgWes. Ir. based on the work w8 have performed, wo condud¢ that Ihorg 18 a material mwlatemenl of tlis other Infomwuon, we are roqulred to report Ihal facL Wg have N)thtng lo rgportin this regard. Matt•rs on whlch aTe requlred to r•port by exceptlon We have nothing to resxjrt In re5pe¢i of the folk)wW rnattefs whBTe Charlties {A¢Unts and Rwsl Reguhbons 2008 requlres u8 lo report to you il. In ouropinlon= the Informatlon glven In the RprA)rt of thè Tru8188s 19 IncoASl¥tenl In rnaterial rn5p8d with the stalement5'. or 8uff¢Ent accountin9 c0S h& rtt)t been kopL or tha finanual slalement¥ are nol rn a9reementwlth the 8C*A)unling record$ and relums," or we have tK)I receNed all thè irtfom)atiDn and explanal>)ns w8 require forouraudf(. Re$ponsltsllltt•s oltrustees As 91ned more fulty In the Trustee8' RÈspDll51bilitss Slatemènt, th8 trustBBS arB r9spon51b for the prgpafabon ol the finandal ststernents whlch give a trutr 8nd falr ew, and 8uch inlern&l contml 8$ th8 tnjstw detemiine 15 ne(E5sary to eMbJ• lh8 prÉpsrAkn Of financlal $18tem8nb that fr99 fr( mBlerial mi86tstement. whether due to frAtsd or error. In prepring the finan statèments. the trusteos a spon8bI? for a$gè¥$ln9 Ihe ehBrttls 8bJlly ki contiN& as golnp concain, 1051ng, a¥ appfic8bl8, mattgrs roFaled to going concem and s1j th8 90in9 concern basls of 8ccounn9 un18S8 Ikn Iwsteès either u)tBnd lo liquidats Ihe Charity or to ¢ease opeT8tion6, or h8V8 no rvanstic altgmalive blrt to doBo. P485
In Fl r r•spon8lblfftle¥ lorthe audlt OF1 flnan¢lal statsrnants WA Iwe bosn 4ppointsd a$ attditorn under 8ection 144 ofthg CIArfII88 Aet 2011 report in arr4)rdance wKh fh&Act and relevant iewlaliorw maorha¥In9 effec4 1trorOLbTrdef. (kjr oblrtlN8s arg lo obthin raa8¢Thble 8SSUfanco aljout whether Iho flnan¢%al statomenls a¥ a wholp 4T0 fie• Trom mistktsm8nl. wh61hr dua to tr8wJ ororrw. and to 8$U9 a Report ofthè Indep8ndoolAuditus thal tndud85 our R6asonabb Irance ts a hh VeF ol È88urnnc4 bul L8 not 8 guaranlee that an oudll c0thlucd In a¢¢ordancgwilh ISL4 {UKI vAff alw dgte.ct a mo18rf81 ml$sta18mènl %vhen It exists. Illslolements cart artse frivn fraud OT error and #r8 COnStder8d Mèteri rf. thkguany or in the ggregate, Ih?y could reasonably be expgcted lo Itffluen lh• ewwmlc d8eisnns ol u¥eis takan on the basts or those s18tements. The exlont to our pffjce41ures ar8 ¢4pabl& of EJ81ecting Irregulariles. Including fraud is detalk8d bebv. inthding fraud. ar• tttstatw { rth-compfiaTrc¥ wlth law4 8nd re9ulatlons. WB design prtsc&lur8s In Yhthour re8panslb1ie$. ab4 to detect mat8rfal m1$¥talnDnts In r8Èrct of irregul8r1tl inU19 fraud. (Jjr approath IrKluded obtaining an understsndin9 tsf le981 a¢%1 regulary fornewrrks Ihal •ro appucobb b) Ilkg thrity we deleThnined those tl4t are mosl 8J9nifiewrt. Based on ts resuts ol wr rksk a#sesrnnl we den¢ a11 proc4duw to fdentify norKrxnpll8nc8 wllh such laws and rpgulBUons. The $IfiC thrjuded enquiry of mapa9em8nl and those charged wlh governance artyJnd aclual and Polenllal lityalton and dM$. In elyditn. anE5 based on the tesults OF our a$5essmonl we desi908d audit PTocedure5 to IY8ntity and aQdros8 material mlsslalement5 In re18tn 19 fraud. Spedfically w8 consh18 th8 ol$k of fraud through managem1 ovèrrfd• Ih81 fr4y1oad lo a misapprowtation ol 6sset5 or Inappffjpiiate (thantsal rnpNting. In twnse, performed audil w tW8r the Itsk of marement override of ¢OnttDb. IFlUdIng 5)ng iourll81 efilrf8s aThJ olher adjuslments opprapriatenoss. evaluating iMJ81th8ss ratitsne ornt Iran¥ction$ out81Je n¢mial cvuw of buth&ss •ftd accounbrrfJ Srn lor bip3. Bec8U69 of the inherent Ilmitsuons of ar audit. thwe Is a rfsk that wa wlll not dwect 911 Ivegukth. I1111¥ Ih Ioadfflg to o rnaterfal mk8statement Irj the flnanti81 stalgments ar non-wnplionre ¥th regulèllon. Thi$ rfÉk Inere8se5 the nre Ihal comanC¥ Wth a law or 911[n 1$ rernoved irom Iha events and transadloAS refiqcted In lh& financlal statemenls, es w8 witl b8 less fikety to becomè aware of inslartces Df nOnMplI?e. The risk is alsts grwdler regarding Iriegularitie9 occurring du8 lo fraud rather than ¢fror. as fr¥ud I1ve5 inlgnlional cone•JmenL ftygery. collulon. ombsion or mlsrepresentatm, A fvrlhBr d9scrfption of our fesptstsiknfrtie¥ for the auth oi fina1 8talErnents Ls tocaled on the FIn¢jaI Rewrting Counufs websfte at .Trar9.uJ3udJ1orsts$pon$6IIIIe$. Thls de5cripknn forms ofour Report ofth8 IMopgndènl Audlknts. Use ofour report s rtport is made the ¢harMy4 iDJ*eas, $$ o body, In •xordaACe With Part 4 of the Ch8Thfjes (Acmunts and Rewls) Regu18tion5 2008. Our aijthi woth ha5 been undertaken so that wè mi9hl slate to the charitys Iruslees thos¢ matters w¢ faoutred to slate to them In an ou&EtO¥8' report and k•r nootherpurpose. To the fullESt gxtsnl Peilled ty law. do not 4plOr atssume re5pJn61bllity to arwone other than the thBAly ¢harWs tnMt¢e8 a$ a boty. for ouraud6t wotk, forlhls pOrt. or lor the op7nTon5 W8 havo forthEd. W.IEV, ~ L.,k4 Wrlghl Limlted st8tutoryAuditovs Chartered Accoun[S & 8usino55 8$15 AbMaAdra Housè 43 Alexand St Notungham Nothngbamshlre NG5 1AY P8go 6
ment of FtnanGF•l Ye ed31 2023 unr91•d fund 21)2Z Total lund$ INCOME AND ENDOWMENTS FROM Inv8sbmÉnt Incrn9 263 192 EXPENDITURE ON Rolsthg fund$ 36.431 38.026 Charll•ble actlvtlJ•s Grants and don8llons Supportcosts (>wem•nc• Go8ts 17&116 39.248 44,429 211.3)7 40,2fj6 Total hlET{EXPENDiniRE) {28.4341 15&3431 Itr Tecognlsed 9¥lnslllo59esl GaIn(lo$se$l on irtV8slment a85818 894.B6 Not M0m•nt In fi¥nd$ 196.sce [953.} RECONCILIATION OF FUNDS Totsllunds broutht IoM8rd 8.411.338 9.354,541 TOTAL FUNDS CARRtED FORWARD 8 607.847 8,411.338 ThB nal85 form part ofthw Ilnsnd81 statennts Pag• 7
TheF 8alanrè 8 31 tmb•r 2023 2023 2022 Total funds Unrestricled fund NDtes FIXEO ASSÈT3 ScJ81 Inveslm8nts .141.077 7.957.399 CURRENT ASSETS Deblors Ch at bank and In hand 10 6.732 451.617 471.889 458.349 CREDITORS Arwurts f811ing t1& Nn year 11 15,0991 {4.410) NET CURRENT ASSET8 453.939 TOTAL ASSETS LESS CURRENT LIABILITIES 8,fj07.847 8,411.338 NET ASSETS B e07 847 FUNDS Unr951rtW fund5 12 8A)7.847 8411238 TOTAL FUNDS 8 607.847 8411338 &latèrnents were apprDved by the B08rd of TruBteBS Bnd authorid fr* Issue . aibj we$19 Dll its behallby. CertwrEghl-Ch&rof Trusiaes The notes feim wlof thyse fianCIsI stsiements Pag¥ 8
Notès tty clal Stateme 023 A¢coupifiNG POLICIE6 Basls of preparlng the flnan¢lal sttttements The fmanct•l ststBments i)f the chority. whl¢h is a pUbC knefrt entity und8r FRS 102. ho been prepamd a¢xordan¢e 1h tho ehanw SORP {FRS 102) 'Accwntlng and Rewting by CknarttK4S". StstEm8nt ol Rfjcommend•l Practicè appllcable to ch8nllas preparirvJ Iheir attDunts In 8r£or(fancg wilh Flnanclal Reportlrq &andard applicable In th¢ UK arid Republlc of IreL8nd IFRS 102) (ofiettlva 1 J8nu•ry 20191.. F5nandal RoportiNJ StsTrdard 102 The Finan¢lat Repordng Standard eppIable In th? UK ond R¢puMlc of Irelanrl. Bnd th8 ChoTrtyes Aet 2011. The finan¢w statemgnts bEeTr Ppared under th• hlslorieal cost nvenOn. as [Fdifid by thg r¢valustK)n of certsin assei& Incomlng roBourc05 All Incomlng resources are recognlsed (ffice th? charity hBB entluemgnl k) the resourcts. tt f8 C8rtn that thè r8s0ureeg will ba r•t81ved. and th? monètsry valuo of IrKoffling re80Urtès be moa8uf8d wth SLffret rèllabillty. Exponded r•S•u•S LbIl&S legned 08 restyJic8s expprKfwJ as 50Dll as the18 a le981 oro)nstruc%4¥eoblvJation ¢omftttf the charrty ta th8 E¥penthiur¥. Al 8xpendittifo 18 a¢(y)unteil for OTr an acuuals basls and has be¢ft dassir nd&r he8dlrvdS th&t 8ggregaia all costs related to the catwy. The (x)sts of gen•r8lltYJ funds con8Lst of invÈslment managern8nt f8es. Support costs Support cosis 0t& to tlbjse C0515 incurred in SuppOrtb Ihe ch8rft8bl& tivllles. refOre Ihey have been allocatod kj lable actlv6¥•8. Chjril8bl¥ acllvllles Costs of L8rilalle activ(tte8 n$[st of poyrrwts made tobonel¢iarigs and don8tronsto thBrltablè ontibe8. QovorTranctt costs Govem8nc& ¢05t6 0)mptse bll ¢osts In¥ofvity the pubilc ae(ounlabillty of the ch8rfty and tts ¢omplwnce wmh regulatlon and uood prad¢6. Thps0 co818 irttudè cosls refated to st81ulory audlt •vJ leg81 fees tO98ther with overhead and supp¢xlcosls. Flxed a88ot Invostments F5xed et $trentS a valued at market vaTue atthe B81ancè 8he8t rJa16 and th6 pa or b55 IB tskgn to Ihe Slatsrnent OfflnancI Adrth. Tax•tTon and SrwgcoveRbIevat The ¢hariiyt8 exernpt Irom taxon its Chartae acb"vthe5. Irreuverabla VAT ra ch8r9eO ag8ln8t the eatewof rpeources exp8nd8d lorwhkh ttwas Inlled. Funds l fvnds aTr unr¢s¢¢tclpd aTrJ are fr88 to use for $ny purp¢JB8 In the futheraftee of Ih? Chartae ot4set¥ at th¥ dlsr4olK>n ofthe Itust80B, INVESTMEpif INCOME 2023 Unr851Ttctsd funds 2022 Total funds Inter98t on eosh dep051ts Dlvidends- equilièB Intert- fixed Intertrsls8rIes 75 229,658 40.D57 232.820 289 790 263.192 Page 9 conlnued...
Noles to F- anc fortho Year Ertded 31 D8cem tlnu 2023 CK4RttABLE ACTFVJTIES COSTS Support 05t51899 not•4) DFr•cl Cost• Totsls Grants donations Support ci Govamance costs 3.217 174,999 39.148 3217 174 83 44,429 SUPPORT T8 GovernknGe 44,429 AUDITOR'S REMUNERAThON The 8uditorf3 remunerntion rmstituted ?n aU1t f88 of£5.68012022.' £5,2501 TRUSTEES. REMUNERATION AND BENEFITS Ther8 were rK) Irustè&¢ remungr8tton or other tenbfits lor the year ¢nded 31 Dber2023 nor fv)r y8ar onded 31 D¢wnbor2022. Tte. ¢xpon¥es There werè no twtees. expense5 pald lor lh8 y8ar Pnd 31 Dec*mbgr20rd nor for Ihe ye8T Ot¥Jed 31 Dg¢8mt•f 2022. STAFF COSTS 20Z3 2022 Wag8$ ar¥J sabrhs 35.871 Tha aver8go monthly numberof•mplTr th? yeÈrw88 85 folth.. SUppt0 the govomanc8 oflh8 thartty 2023 2922 No gmpk)yoes rKelved •rnoluments In ¢xcevts of £60.IXIO. Pago 10 ¢on&"nua...
thÈ Fl forth8 Year Ended 31 COMPARATiVE8 FOR THE STATEMEMT OF FINANCIAL ACTIVITIES Unr•$trl¢ted fund NCOME AND ENDOWMEi¥fs FROM 1nvestrnth Income EXPENDtfURE ON Raising funds 38.028 Charitablg actmlles Grants & Donat8 Supportff6ts GovemanLY Costs 211.207 40.286 31036 Total 321,535 NET INCOMW(EXPENDITURE) Other renISed galnsllloss•$1 Gains on revebJatk)n 0fd 8$861s IM.3431 894. Not rnov¢m•nl In fund• 1953.203) RECONCIUATION OF FUNDS Total fvnds t9t forward 9,364.5d1 TOTAL FUNDS CARRIED FORWARD 8411338 SOCIAL INVE8TIIJEF¥rs InVesknts IAARKET VALUE At 1 January 20rJ ilon DbposaL8 RevaluaUDr 7.g57.399 t,253,688 11,287.440) 217 At31 December2023 141.Q77 NET BOOK VALUE At 31 Decemb8r2023 8 141077 At31 DeceNthr2022 7.957 399 CostCfV81u8l at 31DeO$¥?0ZJ Is repr8sèntEd by.. Oth¢r Inv••tments Equiv intBfESt serurltleB 6,01B,S71 6 1410TT P8ge11 ¢gnnUed...
Inancial Statemenls. ¢¢ ded3 Oec8mber202 lortha Y DEBTORS.. AMOUNTS FALLIfrIG DUE WITHIN ONE YEAR 2023 2022 other d8btors Loan to 0 8nd LL Powgjl 732 6.000 7.033 11. REDITORS: AhlOUNfs FALLING DUE wmiiN ONE YEAR 2023 2022 Taxlon and soc4al 8ecL•Ity other creditor5 158 12. MOVEMEKf IN FUNDS Net mtivement In lunds At 31.1223 At 1.1.23 Unre¥trlct•d funds General fund 8.411.338 196,509 8.607.847 TOTAL FUNDS 8.411 38 196, 8 $07,847 Net movem8nt In fvnds. In th6 above are 8s follows.. Incomlng ROUrCes 8xppndad GAln5 ond losseL4 Movément In funds Unro8tEl¢tgd furtd8 Goneral fvnd 289.790 1298.2241 224,943 196.509 TOTAL FUNDS 298,224 omparatlv•5 for movement In fundg N•t At 31.1222 At 1.122 Infunth Unre¥lrlct•d lunds Gènerdl fvnd 9,364,541 1953.2031 8.411.338 TOTAL FUNDS 9 364541 953,203 Pag8 12
the Flnanclal Slat•mènts-* ntlnu rth YearÈ bèr 20 12. MOVEMENT IN FUNDS- eonlnu•d Cowrf)arzti¥8 net mevgmentln fund8, thclu¢td In the èbvvo aio 8$ fo]th.' Incomlng resources Re8ourEes •xp•nded Galns and 10$3•s Movemnt In fvJMIs Unr•8trl¢t•d lundts General fund 263.192 1321.535) 1894.860) Ig53,203} TOTAL FUNDS 953.203 13. RELATED PARTY DISCLOSURES There were no relat•d psty lrnM?dons th8 ygar ended 31 December 2023. pa 13
Detalled sia rnent of nelal tho Yèar En ed 31 tloce ¢tlYitie8 2023 2022 INCOME AND ENDOWMENTS Inv•¥tment tncon Intereston cash d*PlIS Didends- 8quitt 75 229.658 40,057 232.820 Total Incomlng rthsour 263.192 EXPENDrruRE Ralslog donatlon8 and l•gecles InveshngTrt rnana9emÈnt costs ¢harltsble a¢tlvltks 431 Telephong Payment lo tsEnefic(wf88 t)onaltonsto chariues Empknyeg experw5 Baftk charyes Otherchariiabl8 expendlture 35,871 963 8.307 189.819 825 34.327 901 11.520 2CKI.727 217. 251,473 Support Gov•rnan¢e ¢oBts Audh0. romurwation Legal fees 5.680 38.T49 26.786 44.429 TO tgsourc88 expenttfjd 298.224 Nèt •wndllur• This page does not form part of the finan¢W •latBments and IE for managemenl purp08es onty Page 14