Charfty number. 215834 MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMEK FOR THE YEAR ENDED 5 APRIL 2024 WR Partners Protecting your future.
ENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND coKrENTS Page R•foronce and admln18tratlv• dotall8 of th8 Charlty. ft8 TrustO08 and advl8org Trusteeg, roport Indopgndont examlnovs roport 8latemont of flnan¢lal actlvltla8 Balance sheet Notes to the flnanclal 5tatemonts 8-15
MENEVFAAND WREXHAM INFIRM SECULARCLERGY FUND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, rrs TrU8TEES AND ADVISERS FOR THE YEAR END&) 5 APRIL 2024 Trusl¢os Canncin Terence Anthony Carr, Chalmian The Rht Reverend Monslgnor Clyde Hughes Johnson (reslgned 20 June 2023) Father John Thom83 Reverand Father John Br(hvne Charlty rnpislered numb•r 215834 Prfnclp41 offico The Presbytery Maude Str88t ConrAhB Quay Hlntshlre CH5 4EQ Smtary Father Joseph St8warL Treasu, Corre8pondent and Asslstsnt Secretary Accountan WR Partrnrs Chartered Accountants Belmont House Shrawsbury Buslness Park Shrewsbury Shropshir8 SY2 6LG Bankers HSBC TreIalPY Square Fttnt Fllntshlre CH6 SAH Sollcltors Allington Hughes 10 Grosvenor Road Wrexham LL111SD Pag6 1
MENEVIA AND VIREXHAM INFIRM SECULAR CLERGY FUND TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trust rxesent thelr annual r8POrt together wlth the Ilnandal 8tat8ments of the Menevk and WrexkBm Infkm Secular Clergy Fund fcf the perlod from 6 Apr]12023 to S Aprll 2024. ObJ•¢tlves and actlvltl•8 . Polldeg and ObjeIVes The fund dellvers pubilc benefft the reii¢f of poverty of those e1vIng wants. In setting obieclives and annIng actlvlties. the Trustees have given due corffjklerafjon to general guKlanc8 published by the Charlty Commisston relating lo publlc benefft. Incjudlng the guldance Publr beIrrt. runnlng a Charity {PB2)'. b. Grant4naklng pollde8 Benefit grants may be made to or for the benefft of any member on accA)unt of age or Infirmlty is unable to 8tterKJ the dutles of his off. The level of grants18 declded by the Annual General M8eting but thelr applicallon to origin81 cases Is at the dlscretlon of the C(xJncll. Applkallon for stck grants can b8 made after one month of Bickness and wlthin three months of incapaclty comrnenclng. Slckness grants are Inlended to help applicants with expenses In(yJrred as a result of thelr slckness or to make up InGom8 bst as a resutt of slcknos4 so applicants can malntaln a r&8sorrable stsndard of IlvlFYJ. A¢hl•v•m•nts and porfomianco a. Rwlew of actlvltl8s Durlng th8 ydar the Fund made 15 grants totalllng £22,51XI (2023: 15 grants totallng £18,100). b. Investment poll¢y and perfommn The value of the Fund's Investments Increased over the year from £846.784 to £980,104 Investment inujme amounted to £27.052. The Fund's Investment strategy th Its flnan¢lal advisors Quilter & Co Ltd is to adopt a low risk approath and invest 70% In 8qult18s and 30% In gilts. a polty thIch is kept under annual review. The Trustees are of the opinion ttrot th8 poltoy Obj195 have been met d(TirvJ the ypar in regard to both income and capital grovAh. Flnanclsl revlvw Golng conewn Afier making approprtate enquirie¥, the Truste8s hav8 a reasonable wectation that the Charity has 8dequ8te resources to contlnue In op8ratlonal exlstence for th8 foreseeable future. For this reason, they contlnue to adopt the golro ¢oncem basls in preparlng the flnancial statements. Further detslls r8gardlrvJ the adoption of the going concem basls can be found in the accountlng pollcle8. Page 2
MENEVIAAND WREXHAPI INFIRM SECULAR CLERGY FUND TRUSTEES, REpoFrr (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 b. ReseN pollcy Tha Trustee8 ty to malnt8ln heetthy reserves In order to erve thelr Investment portfolk). As above, grants aY4arded dlstrlbute the Investment Income whllst malntalnI the Investsnent portfollo. Net expendlture for the year before Irr4estment galnsl{108888) amounted to £3,9. Of the doslng fund8 totallryd £1,093,534, £141.250 represented accumulatlve unrealhed Ir In the market value of Investments (Ied forward. accounllng for Investnients. free reserves at the erKI amnted to £113,430 (2023: £151.495). Prlnclpal rf8k8 and UnrtaIntI08 The Tnjstses ty to mlnimi5e risk by considering the annual levd of grant making to be never disproportlonate to wKome of the Fund, therefore guaranteoiro that the sEzè of the Investment Is malnlained. structu gov•rnanc• and managament Constit(rtlon Men8vla and Wrexham Infimi Secular Clergy Fund 18 a reg18tered tharlty, number 215834, and Is (Jortstiiuted under a Trust deed. The prlnclpal objects of the charlty are flrstty the finandal support of those of the clergy of the Diocese8 of Menevla and Wrexham who belng subjects of those Dlo¢&ses and members of the Fund sh811 be Incapthe Ihrough Irrflrmty In old age or slckness of perfomilng dutle8 of thelr offlce, and Becondly tha 8plrttual ald of the members and benefactors Ilvina afKI dead. The benefid81 area o)vered by the Tru8t is the Roman Cathollc Dioceses of Manea and Wrexham. b. M•thods of appolntment or elect1¢ of Trustee5 The management of the Charfty Is the responslbllty of the Truslees who are elected and co<ipted under the terms of the Trust deed. or918atIonal structur• and d8¢l$lonwmaklng pollcles Thg bu8lness of tha Fund IB transacted by a Councll consl8ts of the PresldenL Treasurer, the Secretary and two non-offlcer Councillors elecled at thg Annual General Meetin9. The Council me81 suffldenlly often to have practical control over the affairs of the FU1. d. Prfnclpal actmtles The Fund recerves Investment Income from 116 portfolk) and dlstrlkwte8 grants to qualffied appllcants as the TrLtstses determine in their meetings. Plans forfuturo porfods The Trustees have a8sessed the Potentlal Impact on the future operalion8 of the char]ty, taklng Into eccount Its undng flnandal resources and Strengfh. The TTU8tees Consider the charlty to be well posltioned to manage the ¢urrent sltuaiion and secure operatlons Into th8 firture. Page 3
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Stat•ment of Trustees, r•spon81bllltJes The Trustees are r88ponslble for preparfng the Trustees, report and th8 financlal statements In atxordance %Mth appllcable law and uned Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accounting Pracllc*). Th8 law applicable to charliies in England & Wal85 requires the Trustees to prepare financtal statements for each flnanGlal whkh glve a true and falr vlew of the state of affairs of the Charty and of Its Incoming rescjur and appllcatlon of resources. Includlng its Income arKI expBnditure, for that period. In preparfng these flnanciej stataments, the Trustees ere required to: selecl suitable acLounting policieB and Ihen apply them conslstsntly, ob88rve th8 methods and principles of the Ch8riiie8 SORP (FRS 102). make ludgmenls and accounting estimates that are reasonable and prud8nL state whother 8pplloable UK AccountlTrJ Standards IFRS 102> hava been followed. $uble¢t to any materkl departures dls¢lo8ed 8nd explalned In th8 financtal statements; prepare th8 financial statemènts on the golng COnn basi8 unless li18 Inapproprlate to presume that the Charity will ¢Dntinu8 In buslness. The Trustees are responsible for keeplng adequate accountlng records that are sufflclent to show and expsan the Charlty'8 transaction8 and dlsclose wtth reasonable accuracy at any time the fln8nclal posltlon of the Charlty and enable them to ensure that the llnanclal statements comply vlth tha ChBrltles Act 2011, the Charfty (Accounts and Report8) Regulatlons 2008 arKI the provlslons of the Twst deed. They are also respon5&iEe for safeguarding the assets of the Charlty and h8nce for taklng r8a60nabie stepB for the prevention and detecuon of fraud and other irregularities. Approved by order of the members of the board of Truste8s and signed on their behalf by. Cannpn Terence Aiithony Carr (Chair of Trustees) Page 4
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND INDEPENDENT EXAMINER'8 REPORT FOR THE YEAR ENDED 5 APRIL 2024 Indop•ndont Examlnarfs Roport to the Trustees of Menovla ttnd Wr•xham Inllmi sUlar Clergy Fund Cthe Charftyj I report to the tharty Tru8t*s on my examlnatlon of thè a(xounts of the Charfty for the year ended 5 Awll 2024. Rtsponslbllltles and Bas18 of Report Ag the Trustees of the Charlty you are responslble for the preparatlon of the accounts in accordance with the requkements of the Charltle6 Act 2011 Cthe 2011 ACV). I report In respect of rny examination of th8 CharitJV8 acCntS caTrf8d out under sectlon 145 of the 2011 AGI and in ca.ng OLrt my examlnation I have followed Ihe appl]ble Dlreclions given by the ChgAty Commi5slon under soctton 145(5){b) of the 2D11 Act. Indapandent Examlnerfs Statement I have cornpleted my eXamInaOn. I confrm that no matth have oome to my attenuon in connecllon wlth the examlnatlon givlng me caus8 to bellev8 that In any matarfsl réspect: accountlng records were not kept In respeot of the Charfty as requlred by 8ecUon 130 of the 2011 ACL. or the accounts do not 8c¢ord wlth th08e records" or the e¢jnts do not oomply w]th the ap[cable requlrements conoemlng the forni and content of accounts set out In the Charltie8 (Acoount8 and Report8) Regulation8 2008 other than any requiremerrt that the accounts glve a and fai¢ VI which 1$ not s matter conBldered as part of an Independent wAamlnatlon. I have no cxJnc4rns and have come ocross no other matters in connection wlth the &xamlnation to 1h attentlon $Uld be drawn In thls.report In order to enable a proper undar8tandlng of the accounts to be reathd. Thls report Is made Solely to the Charlbls Trustees. a8 a body, In accordance wlth Part 4 of the Charlfles (AoUnts and Reports) Regulatlons 2008. My Work has been undertakan so that I mlght st8te to the Charivs TTUStees those matter5 1 am requlred to state to thom In an Independent examlnerf8 report and for no other purpose. To the fullest extent permitted by law. I do not aGGept or a55ume respon5ibillty to anyone otherthan the Charlty and the Chartys Trustses as a body. for mywork orfor this repDrL Signed: Dated: 8Wzo S J Tweedle Bsc FCA DChA WR Partners B8lmonl Hous Shrewsbury Busine88 Park Shrew8bury Shropshlre SY2 6LG Page 5
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND STATEMENT OF FINANCIAL ACTNITIES FOR THE YEAR ENDED S APRIL 2024 Unrostrlcted funds 2024 Total funds 2024 Total funds 2023 Incomo from: Donation8 and legacle8 1,520 27.052 1,520 41,720 23,284 Total income 28.572 28,572 Expendlturn on: ChBrilabl8 athitles 32.481 4BI 27,064 Total expendlturn 32,481 32A81 27,064 Net lexpenditure)Iln¢ome b8fore net galnsloosses) on inve8tm•nt8 Net galnsl(losses) on Investments (3,909) 99,164 {3P09) 99,164 37,940 (41.088) Net movomwt In funds 95255 95255 (3,148) Reconclliatlon of funds: Total fuTKls Lyought fard N8t mov8m8nt in fundB 998279 95355 998379 95,255 1,001,427 (3,148) Total funds carrfed forward 1,093,534 1,093,534 998,279 The Stslement of Flnanclal Actlvilles includ88 811 gains and losses regnISed In the year. The notes on pages 8 to 15 fonn part of these fmanclal statements. Page 6
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Flx•d a86•ts Investment8 10 980.104 846,784 980,104 Currnnt as59ts Debtor8 C8sh 8t bank end in hand 11 103 1133 2,268 152.889 117A72 155.137 CredJtor8'. 8mountsfalling due hithin one 12 {3.942) (3.642) Ng1 rrent a$69ts 113.430 151,495 Total assets I8 Guffont Ilabllllles 1,093,534 998,279 Total not assèts 1,093.534 998,279 Charfty funds Restrtcled funds Unrestrlcled funds 13 13 1,093,534 998.279 Total knnd8 1.093,534 998.2T9 The financlal 8t8tsmonts were approved and authorised forlssue by the Trustees and Blgned on their beh81f by. Cannon Terence (Chalr of Twstees) thony Carr 01-oF- The notes on pag68 8 to 15 fom part of these financial ststements. PagB 7
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2024 Genornl Informatlon The princlpd ob}ects of the oharlty are firslly the flnanckl support of those of the dergy of the Dloceses of Menevia aThJ Wrexham wFK> being subjects of those Dvxe8es and membern of the Fund shall b8 incapable through infffmSty In old age or .81ckness of p8rfonning (kftles of thelr offt¢e. and secorKlly the SPiTitual aid of the members and benefactors living and dead. The beneflclal ar covered by the Trust tho Roman Call1[c Diocwae8 of Menewa and Wrexham. Accounting polici•s 11 Ba•ls of preparatlon of flnanclal 8tatemonts The financial stat@m8nt5 have b88n prepared In 8ccordance with the Charities SORP {FRS 102) - AcrA)untlng and Reportlng by Charttles." Stat8ment of Re¢ommended Pracalce appltsble to tharltles preparlng thelr accounts In rdance wlth the FlnancHI Reporting Standard 8ppllcable In the UK and Republlc of Ir81and (FRS 102) (eff8Ctlv8 1 January 2019k the Financial Reporting Stsndard appllcable In the UK arKI Republlc of Ir81and (FRS 102} and Charllles Act 2011. financlal stalam8nts have be preparad to a Yrue and f8if vlew and hav8 depart1 from the Charlt16s (Accounts and Reports) Regulatlon3 2008 only to the extent requlred to provlde a YNe aThJ falrf vlew. Thls departure has Involved followlng the Chwlties SORP (FRS 102) pubfKhed in Oclober 2019 rather than the Accounting and ReportiNJ by Charities: Statement of Recomm8nded Practlce effect8 from 1 Aprfl 2005 whlch has slnce been wfjlhdrawn. M8n8vla and Wr8xham Infimi S8cular Clergy Fund meets th8 definiuon of a publlc bonefft enoty under FRS 102. Assets and Ilabllltles are Inltlally recognised at hlstorlcal $1 or transaction vakje unless oth8NAse stated In the relevant a¢¢ounllng pollcy. 2.2 Income All Income Is recognlsed once the Ch8rlty h88 8ntiU8ment to the Income. It Is probable that the Income wlll be recelved and the 8mount of Irthme recelvable can be measured rellably. Th6 recognltlon rrf Income from legacie6 18 dependent f)n establlshSng enlltlem8nt, the probablllty of recelpt and the ablllty to estlmate wlth sufficknt acouracy the amount recelvable. Evldence of entioement to a legacy exists when the Charity has sufficient evidence that a glft has been left to them (through knowledge of the exEstence of a valid will and the death of the benef8clor) and the executor IB salisfled that thg property in question will not be required to satlsfy claims In the èstate. R8C8iPt of a legaGy must b8 re(nISed whan it is probable that it 11 b8 recelved and the falr value of the amount recelwable, whlch wlll generally be the expected cash amount to be dlstrlbuted to Ihe Charlty, can be rellably measured. Income tax recoverable In relatkjn to Investment Irorne is recognlsed at the tlme the Imiestment Irme 15 reoivable. Page 8
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2024 Accountlng pollcl•8 (contlnued) 23 Expondlturn Expendrture Is recognlsed on(* there is a legal or constructive obllgalion to transfer econorn5c benef to a thlrd paty. il is probgble that a transfer of ewnomlc beneflts will be required In settlement and the amount of the obligation can be m&wured rellabty. Expenditure Is dassified by actlviiy. costs of each actiyty are made up of the totsl (ff dlrect Costs and shared costs, induding 8UPPOrt Costs Involved in undertaking each activlty. Dwect costs attriLKtsble to a single actlvty are alloLxted dffec to that activity. Shared costs whlch contrlbute to more than one actlvity arKI support costs lch are not attrlbutable to a 81ngle actmty are apportloned bet¥%Een those a011ve5 Dn a basls conslstent th& use of resources. Expendlture on charitable activttleB is IncurTuI on directly und8rtaklng the activities whlch furlher the Charlvs objoctlves, as as any assoclated suppcyt co&ts. Grants payable are Charged In the ye8r when the offw [8 made gxcept in th08e (x8es where the offer is conditional, such grants balng recogntsed 88 expdur@ lthan the condlt.ons attachlng are fulfilled. Grants offered subject to condlllons whlch have not been met at the year end are noted a8 a commitment, but not aCCed as expendItu. AN expendliurels Inclus8 of Irrecoverable VAT. 2.4 Inv•stmonts Fixed asset inve8trnents ar8 a forni of financlal Instrument and are Inltlally reoognknd at their tranEaotlon cost and Bubsequenly measured at falr value at the Batance sheet date, unl888 the value cannot be measured r8llably In whlch Case It Is measured at oost less impairn18nt. Inveslment galn8 and losses, whether reallsed or unreallsed, are combined and presented a8 'Gainsl(Losses} on Investments, In the Statement of finandal activlties. 15 Debtorn Trade and other debtors are recognised at the settlement amounl after ary trada dls¢ount Offed. Prepayments are valued at the amount prepald net of any trade dlscounts due. 2.6 Cash at bank and In hand Cash al bank end In h8nd indudes cash arKI 8hort-tsrm highly liquid inveBtmerts wtth a short mathrlty of tlyee months or less from the date of acqulsttk)n Ix openlng of the deposit or similar accounL 2.7 Llabllltles and provlslons Llabilitles are recognised when there Is an obligatlon st the Balanca sheet date ss a result of a past evenl, it is probable that a transfar of economic benèfit will ba requlred In settlement, and the amount of the setuement can be estlrnated rellably. LlabllltEes are recognised at the amount that the Charity 8ntidpates It wll pay to settle the debt or the amount It has recelved aB advanced poyments for the good8 or servtces tt must provide. Provl8lons are measured at the be8t 8Stimats of the amounts required to S8tU8 th8 obllgalSDn. Where the effect of the tlme valu8 of money Is material. the provision is baB8d on th8 present vajue of those amounts, dlscounted at the pre-tax dlscount ratè that refiects the rlsks 8pec]flc to the Ilabllty. The unwJndlng of thé dlsoount18 recognlsed In the Statement of t]nanclal actfvttles as e finance cosL Paga 9
hlENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2024 ACCOU1n9 pollcl•6 (continuod) 2.8 Flnandal Instruments The Charlty onty has flnandal assets and financial liabilities of a kknd that quafty as basic financial instrurnents. Basic financlal Instruments are Initidty recogni5ed at transaction value and subsequenlty meaBured ai tholr settlement Va8. 2.9 Fund accountlng General furKls are unrestrfcted funds which are Bvallable for use at the discretion of the Trustees in furtherdnca of ts g8ner81 obJectives of the CPrity and which rK)I been designated for other purpos85. Investrnent income, galns and losses are allocated to ts appropriate fund. Income from doftatlol and legacles Unrnstrlctèd funds 2024 Total funds 2024 fvnds 2023 Legacles Similar incomlng resources 40,000 1,720 1,520 1.520 1.520 1,520 41,720 Total 2023 41,720 41,720 Investmènt Income Unr68trlct•d funds 2024 Total lunds 2024 Total funds 2023 Income 11sted investments Investment Income-treasury stock 26,905 147 26,905 147 24242 42 27.052 27,052 23,284 Total 2023 23.284 23.284 P8ge 10
MENEVFAAND WREXHAM INFIRM SECULAR GLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysls of grants Grants to Indlviduals T¢)tal funds 2024 Tof81 funds 2023 Grdnts 22,500 4500 18,100 Total 2023 18.100 18,100 Duthg the )ear 16 grants of £1,500 (2023.15 grnnts totalliro £18,1DO) were made to IndlviduAIs. Analyals of expendlturo on tharltablo actlvltle8 Bummary byfund typ• Unrnstrlctsd fund¥ 2024 2024 2028 Grant rnan9 32,481 32,481 27,t4 Total 2023 27.084 27,084 Analysls of èxptndlturo by activltles fundlng of a¢tlvltles Support Total funds 2024 funds 2023 2024 Grant makl 9,981 31481 27.064 Total 2023 18,100 8,964 27.064 Pag8 11
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 5 APRIL 2024 Analysls of expendlturo by actlvltl8s (contlnued) Analysls of 8UPP¢)rt Gost? Tot81 fvnd8 2023 Actlvftles 2024 funds 2024 Meetlngs Travel expensès Bgnk charge8 Investment nisnagement fee8 Governance Costs 971 188 70 e,474 2.298 971 168 70 474 2,298 6.229 2,100 9.981 9.981 Tot812023 8,964 8,984 Independent gxamlner's remuneratlon The IrKlependent examiner's retnuneratlon amounts to an independent Oxaminer fee of £2298 (2023 - £2,100>. Trustees. rèmunerntlon and 6xpen8es Durlng the yvar, no Trustees recelved any remuneration or other bgnefits (2023- £NIL). Durfng the year ended 5 Aprfl 2024, no Trustee expenses have b8en Incurred (2023- £NIU. Pag8 12
MENEVIA AND WREXHAM INFIRM SECULAR.CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YeAR ENDED S APRIL 2024 10. Flxed 888at Inve8lment8 Other flxgd Ll#tqd a88et Inv•stments Inv•6tments Total Co8t ot valuatlon At 6 Aprll 2023 Addltlon8 DI$FOS818 Revalu8tJon8 823,119 144.352 (85,201) 81,834 23,665 142.916 (150,680 846,784 287267 (235,781) 81,834 At 6 Apr¥ 2024 964,104 16,000 980.104 N•t book valu• At 5 Aprll 2024 984,104 16,000 980,104 At 6Apr112023 823,119 23.665 846,784 11. Debtors 2024 2023 Due wlthln one ar Prepa>ments and accrued Income 4103 Z288 4,103 2,268 12. Crnditorg: Amourrts falllng bvlthln on• year 2024 2023 Accruals 8nd rfefeed income 3,642 Page 13
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 13. Ststement of funds ststement of funds - current year Balance at 6 Aprfl 2023 Galnsl Balance at 5 (Losso8) Aprfl 2024 Income Expendlturo Unrestrlctad funds General FurKJs 998379 28,572 {32M81) 99,164 1,093,534 statement of fvnds . prlor year Balance al l Aprd 2022 Galn* BalwKe al Income ExpendRuré (Loss8s) SAprfl 2023 Unre8trtctod funds General Funds 1.001,427 65.004 (27.064) (4q.088) 998,279 14. Analy8ls of assets between funds Anal1¥ of net 88gets between fund8- ¢urr•nt perlod Unrestrlcted funds 2024 Total funds 2024 Ftxed asset IeStMentS Current assets CredStor8 due wlthln one year 980,104 117,372 (3,942) 980,104 117,372 {3,942) Total 1.093,534 1.093,534 Page 14
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. Analysls of nat a88•ts bth•en fvnds (contlnued) Analy616 of net assets botwaen lunds. prtor perfod Tofal fvnds 2023 fund8 2023 Fixed asset Inve8tments Currant assets Creditors due vllthln one year 846.784 155,137 (3.642) 846,784 164137 {4642) 998.279 998,279 Page 15