**Charity registration number 214489**
## **SIR JOHN J HUNT ALMSHOUSES**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 2 JUNE 2024**
## **SIR JOHN J HUNT ALMSHOUSES**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees' report|2 - 3|
|Statement of trustees' responsibilities|4|
|Independent examiner's report|5|
|Statement of financial activities|6 - 7|
|Statement of financial position|8|
|Notes to the financial statements|9 - 15|
## **SIR JOHN J HUNT ALMSHOUSES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|J Richard Wood - Chairman|
|---|---|
||D Dickson|
||M Walker|
||I Robertson|
|**Clerk**|A L Ware Esq.|
||Cowling Swift & Kitchen|
||8 Blake Street|
||York|
||YO1 1XJ|
|**Charity number**|214489|
|**Principal address**|Cowling Swift & Kitchen|
||8 Blake Street|
||York|
||YO1 1XJ|
|**Independent examiner**|Frances Howard FCA|
||Fortus Limited|
||Business Advisors and Accountants|
||Equinox House|
||Clifton Park|
||Shipton Road|
||York|
||YO30 5PA|
|**Bankers**|Barclays Bank PLC|
||1-3 Parliament Street|
||York|
||YO1 8XD|
- 1 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 2 JUNE 2024**_
The trustees present their annual report and financial statements for the year ended 2 June 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019".
The legal and administrative information page forms part of this report.
## **Objectives and activities**
The charity's objects are the provision of The Sir John J Hunt Almshouses which was established at Fulford, York in 1952 and there has been no change in these during the year.
The charity has continued to administer the almshouses.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
The charity has continued to administer 24 almshouses for residents and 1 house for the gardener/porter. Steps are being taken to convert the old nurses house into two separate dwellings for further residents. Residents must be poor persons of good character who are members of the Church of England aged between 55 and 70 years at the time of appointment or retired nurses or porters of the charity.
The houses have been maintained to a high standard. Steps are taken each year to maintain the character and good condition of the homes.
## **Financial review**
The net income for the year was £96,767 (2023 £3,030). The reserves at 2 June 2024 totalled £1,002,387 (2023 £905,620) of which £538,495 (2023 £473,550) related to designated funds and £463,892 (2023 £432,070) related to endowment funds. The trustees have considered the level of reserves the charity will require to sustain its operations in the future, excluding those funds represented by fixed assets.
A policy has been established that sufficient funds should be held to meet both regular and significant and non-routine expenditure on the almshouses. Regular maintenance expenditure is met from the cyclical maintenance fund; significant and non-routine expenditure is met from the extraordinary repair fund.
The trustees' policy is to maintain the real value of the charity’s investments adopting a prudent policy balancing income and growth to provide security for the future of the charity’s activities. Investments are held on a long- term basis in government stocks and common investment funds for charities.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity was created by the trustees of the late Reginald Hunt, the nephew of Sir John J Hunt. The charity is regulated under an order of the Charity Commission sealed 6 February 1978.
The trustees ex-officio are the trustees of the will of Reginald Hunt, the Lord Mayor of York, the Chief Executive of the City of York and the Dean of York all for the time being. There are also four co-opted trustees who serve for a term of five years.
The trustees, who plan to meet twice a year, administer the charity. Day to day operations are managed by the clerk.
- 2 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
The trustees' report was approved by the Board of Trustees.
J Richard Wood - Chairman **Trustee**
17 December 2024
- 3 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** _**FOR THE YEAR ENDED 2 JUNE 2024**_
The trustees are responsible for preparing the Trustees' 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 year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 sufficient 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.
- 4 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SIR JOHN J HUNT ALMSHOUSES**
I report to the trustees on my examination of the financial statements of Sir John J Hunt Almshouses (the charity) for the year ended 2 June 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of 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 financial statements to be reached.
## **Frances Howard FCA**
Fortus Limited Business Advisors and Accountants Equinox House Clifton Park Shipton Road YO30 5PA York
Dated: 18 March 2025
- 5 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **CURRENT FINANCIAL YEAR**
|**Unrestricted**
**Unrestricted**
**Endowment**
**funds**
**funds**
**funds**
**General**
**Designated**
**2024**
**2024**
**2024**
**Notes**
**£**
**£**
**£**
**Income**
Charitable activities
**3**
154,263
-
-
Investments
**4**
529
17,795
-
**Total income**
154,792
17,795
-
**Expenditure**
Charitable activities
**5**
127,187
-
-
Net gains/(losses) on investments
**9**
-
19,545
31,822
**Net income before transfers**
27,605
37,340
31,822
Gross transfers between funds
(27,605)
27,605
-
**Net movement in funds**
-
64,945
31,822
Fund balances at 3 June 2023
-
473,550
432,070
**Fund balances at 2 June 2024**
-
538,495
463,892|**Total**
**2024**
**£**
154,263
18,324
172,587
127,187
51,367
96,767
-
96,767
905,620
1,002,387|Total
2023
**£**
151,807
16,755
168,562
148,787
(16,745)
3,030
-
3,030
902,590
905,620|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 6 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **PRIOR FINANCIAL YEAR**
|**Unrestricted**
**Unrestricted**
**Endowment**
**funds**
**funds**
**funds**
**General**
**Designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income**
Charitable activities
**3**
151,807
-
-
Investments
**4**
84
16,671
-
**Total income**
151,891
16,671
-
**Expenditure**
Charitable activities
**5**
148,787
-
-
Net gains/(losses) on investments
**9**
-
(21,469)
4,724
**Net income before transfers**
3,104
(4,798)
4,724
Gross transfers between funds
(3,104)
3,104
-
**Net movement in funds**
-
(1,694)
4,724
Fund balances at 3 June 2022
-
475,244
427,346
**Fund balances at 2 June 2023**
-
473,550
432,070|**Total**
**2023**
**£**
151,807
16,755
168,562
148,787
(16,745)
3,030
-
3,030
902,590
905,620|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 7 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **STATEMENT OF FINANCIAL POSITION** _**AS AT 2 JUNE 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**15**
**Income funds**
Unrestricted funds - Designated
**16**
Unrestricted funds - general|**2024**
**£**
18,135
78,970
97,105
(10,285)|**£**
91,374
824,193
915,567
86,820
1,002,387
463,892
538,495
-
1,002,387|**2023**
**£**
17,240
49,298
66,538
(8,850)|**£**
92,901
755,031|
|---|---|---|---|---|
|||||847,932
57,688|
|||||905,620|
|||||432,070
473,550
-|
|||||905,620|
The financial statements were approved by the Trustees on 17 December 2024
J Richard Wood - Chairman
## **Trustee**
- 8 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **1 Accounting policies**
## **Charity information**
Sir John J Hunt Almshouses is a charity registered with the Charity Commission for England and Wales..
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019".The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular purpose.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.3 Income**
Incoming resources are accounted for on a receivable basis.
## **1.4 Expenditure**
Resources expended are included on an accruals basis and have been classified under headings that aggregate all costs related to that category.
Costs of charitable activities include those costs incurred by the charity in the delivery of its activities and services.
**1.5 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Almshouses 2% straight line Equipment 20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.6 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
- 9 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets are measured at transaction price including transaction. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**2024**|**2023**|
||**£**|**£**|
|Contributions from residents|154,263|151,807|
- 10 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **4 Investments**
||**Unrestricted**|**Unrestricted**|**Total**|**Unrestricted**|**Unrestricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**general**|**Designated**||**general**|**Designated**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Income from listed|||||||
|investments|529|17,795|18,324|84|16,671|16,755|
## **5 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Expenditure**|**Expenditure**|
||**2024**|**2023**|
||**£**|**£**|
|Staff costs|27,090|25,197|
|Depreciation and impairment|1,526|1,588|
|Lighting, heating, rates and water|17,799|18,699|
|Insurance|9,476|9,406|
|Maintenance and repairs|57,725|80,410|
|Telephone, sundries and advertising|1,889|1,886|
|Clerk's salary|8,640|8,640|
|Subscriptions|582|333|
||124,727|146,159|
|Share of governance costs (see note 6)|2,460|2,628|
||127,187|148,787|
## **6 Support costs**
|**Support costs**|||
|---|---|---|
|**2024**
**Support costs**
**Governance**
**costs**
**£**
**£**
Independent examination fee
-
2,460
-
2,460
Analysed between
Charitable activities
-
2,460|2023
**2024**
Support costs
Governance
costs
**£**
£
£
2,460
-
2,628
2,460
-
2,628
2,460
-
2,628|2023
£
2,628|
|||2,628|
|||2,628|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 11 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **8 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Other pension costs|**2024**
**Number**
1
**2024**
**£**
26,308
782
27,090|**2023**
**Number**
1|
|---|---|---|
|||**2023**
**£**
24,469
728|
|||25,197|
There were no employees whose annual remuneration was more than £60,000.
## **9 Net gains/(losses) on investments**
||**Unrestricted**|**Endowment**|**Total**|**Unrestricted**|**Endowment**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**Designated**|||**Designated**|||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Revaluation of investments|19,545|31,822|51,367|(21,469)|4,724|(16,745)|
## **10 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **11 Tangible fixed assets**
|**Almshouses**
**Equipment**
**£**
**£**
**Cost**
At 3 June 2023
87,050
21,435
At 2 June 2024
87,050
21,435
**Depreciation**
At 3 June 2023
-
15,585
Depreciation charged in the year
-
1,526
At 2 June 2024
-
17,111
**Carrying amount**
At 2 June 2024
87,050
4,324
At 2 June 2023
87,050
5,851|**Total**
**£**
108,485|
|---|---|
||108,485|
||15,585
1,526|
||17,111|
||91,374|
||92,901|
- 12 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **11 Tangible fixed assets**
## **(Continued)**
The almshouses form part of the endowment fund.
## **12 Fixed asset investments**
||**Investments**|
|---|---|
||**£**|
|**Cost or valuation**||
|At 3 June 2023|755,031|
|Additions|17,795|
|Valuation changes|51,367|
|At 2 June 2024|824,193|
|**Carrying amount**||
|At 02 June 2024|824,193|
|At 02 June 2023|755,031|
The investments comprise listed accumulation units in common investment funds specifically for charities.
|**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2024**
**£**
1,799
16,336
18,135
**2024**
**£**
7,584
2,701
10,285|**2023**
**£**
1,799
15,441|
|---|---|---|
|||17,240|
|||**2023**
**£**
6,052
2,798|
|||8,850|
- 13 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **15 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
||**Balance at**|**Transfers**|**Revaluations**|**Balance at**|**Transfers**|**Revaluations**|**Balance at**|
|---|---|---|---|---|---|---|---|
||**3 June 2022**||**gains and**|**3 June 2023**||**gains and**|**2 June 2024**|
||||**losses**|||**losses**||
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Permanent**|**endowments**|||||||
|Endowment||||||||
|fund|427,346|-|4,724|432,070|-|31,822|463,892|
||427,346|-|4,724|432,070|-|31,822|463,892|
## **16 Unrestricted funds - Designated**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**3 June 2023**
**£**
Extra-ordinary repair fund
410,010
Cylical maintenance fund
63,540
473,550
**Balance at**
**3 June 2022**
**£**
Extra-ordinary repair fund
414,808
Cylical maintenance fund
60,436
475,244|**Movement in funds**
**Income**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**2 June 2024**
**£**
**£**
**£**
**£**
17,795
-
19,545
447,350
-
27,605
-
91,145
17,795
27,605
19,545
538,495
**Movement in funds**
**Income**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**3 June 2023**
**£**
**£**
**£**
**£**
16,671
-
(21,469)
410,010
-
3,104
-
63,540
16,671
3,104
(21,469)
473,550|**Movement in funds**
**Income**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**2 June 2024**
**£**
**£**
**£**
**£**
17,795
-
19,545
447,350
-
27,605
-
91,145
17,795
27,605
19,545
538,495
**Movement in funds**
**Income**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**3 June 2023**
**£**
**£**
**£**
**£**
16,671
-
(21,469)
410,010
-
3,104
-
63,540
16,671
3,104
(21,469)
473,550|
|---|---|---|
|||473,550|
- 14 -
## **SIR JOHN J HUNT ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 2 JUNE 2024**_
## **17 Analysis of net assets between funds**
|**Analysis of net assets between funds**||
|---|---|
|**Unrestricted**
**funds**
**Designated**
**funds**
**Endowment**
**funds**
**2024**
**2024**
**2024**
**£**
**£**
**£**
Fund balances at 2 June 2024 are represented by:
Tangible assets
-
4,324
87,050
Investments
-
447,351
376,842
Current assets/(liabilities)
-
86,820
-
-
538,495
463,892
**Unrestricted**
**funds**
**Designated**
**funds**
**Endowment**
**funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Fund balances at 2 June 2023 are represented by:
Tangible assets
-
5,851
87,050
Investments
-
410,011
345,020
Current assets/(liabilities)
-
57,688
-
-
473,550
432,070|**Total**
**2024**
**£**
91,374
824,193
86,820|
||1,002,387|
||**Total**
**2023**
**£**
92,901
755,031
57,688|
||905,620|
## **18 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 15 -