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2023-04-30-accounts

Charity Registration No. 219177

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CHESHIRE FREEMASONS' CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

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CHESHIRE FREEMASONS' CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

M G Ireland D Talbot PR Crudge J Shasha M G Leese

Charity number

219177

Auditor

Xeinadin Audit Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9QP

CHESHIRE FREEMASONS’ CHARITY

CONTENTS

Page
Trustees’ report 1-2
Independent auditor's report 3-5
Statement offinancial activities 6
Statementoffinancialposition 7
Notestothefinancialstatements 8-15

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CHESHIRE FREEMASONS' CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 APRIL 2023

The trustees present their annual report and financial statements for the year ended 30 April 2023.

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 By laws of the Provincial Grand Lodge of Cheshire, including the Cheshire Provincial Fund of Benevolence constitution adopted 6 October 1979, as amended 3 October 2012 and 4 December 2012, 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 lreland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are:

These objectives are achieved by donation, subscription and the application of investment income received.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

The trustees have reviewed the reserves of the charity. They are committed to continuing the practice of distributing over a five year period in excess of the incoming resources of the charity by way of charitable and other expenditure.

The present high level of available Unrestricted General Fund reserves is therefore considered essential to support the deficits which it is anticipated will be incurred for the foreseeable future.

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 is an unincorporated charity controlled by its governing document, the By laws of the Provincial Grand Lodge of Cheshire, including the Cheshire Provincial Fund of Benevolence constitution.

The trustees who served during the year and up to the date of signature of the financial statements were: G W Scott (Resigned 5 December 2022) L Saunders (Resigned 5 December 2022) M G Ireland D Talbot

M G Leese

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CHESHIRE FREEMASONS' CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

Funds held as custodian trustee

The charity holds as custodian trustee for distribution funds belonging to the Grand Charity and funds belonging to charitable funds of other Provinces.

Statement of trustees' responsibilities

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:

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.

The trustees’ report was approved by the Board of Trustees.

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CHESHIRE FREEMASONS' CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CHESHIRE FREEMASONS' CHARITY

Opinion

We have audited the financial statements of Cheshire Freemasons’ Charity (the ‘charity’) for the year ended 30 April 2023 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concem basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies of apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

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: CHESHIRE FREEMASONS' CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CHESHIRE FREEMASONS’ CHARITY

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement,assessingconcern andtheusingwhethercharity’sthe goingdueabilitytoconcemfraudto continueorbasiserror.asofInaaccountingpreparinggoing concern,theunlessfinancialdisclosing,the trusteesstatements,as eitherapplicable,theintendtrusteesmattersto ceasearerelatedresponsibleoperations,to goingforor have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Enquiries of management and those charged with governance were held in order to identify any laws and regulations that could be expected to have a material impact on the financial statements. Throughout the audit, the team were updated with the outcomes of these enquiries including consideration as to where and how fraud may occur in the Charity. The audit procedures undertaken to address any potential risk in relation to irregularities (which include fraud and non-compliance with laws and regulations) included: enquiries of management and those charged with governance on how the Charity complies with relevant laws, regulations and any cases of actual or potential litigation or claims; examination of appropriate legal correspondence; review of board minutes; testing of journal entries for appropriateness; and analytical procedures on account balances to identify variances against expectation which may show indications of fraud. No instances of materia! non-compliance were identified, although the prospect of detecting irregularities, including fraud, is inherently difficult. This is due to; difficulty in detecting irregularities; limits imposed by the effectiveness of the entity’s controls; and the nature, timing and extent of the audit procedures performed. Irregularities as a result of fraud are inherently more difficult to detect than those that resulting from error. Despite this, the audit being planned and performed in accordance with ISAs (UK), there is an unavoidable risk that material misstatements may not be detected. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

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CHESHIRE FREEMASONS' CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CHESHIRE FREEMASONS' CHARITY

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair Jeffcott BA|ECA\Senior Statutory Auditor) for and on behalf of Xeinadin Audit Limited

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Chartered Accountants

Statutory Auditor

2 Hilliards Court Chester Business Park Chester Cheshire CH4 9QP

Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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CHESHIRE FREEMASONS' CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2023

Unrestricted Restricted Total Unrestricted Restricted Total
funds
2023		 funds
2023		 2023 funds
2022		 funds
2022		 2022
Notes £ £ £ £ £ £
Income from:
Donationsand legacies 2 607,762 - 607,762 346,631 - 346,631
Charitable activities
Investments		 3
4		 7,494
157,298		 -
9,982		 7,494
167,280		 5.413
108,491		 -
8,660		 5,413
117,151
Total income 772,554 9,982 782,536 460,535 8,660 469,195
Expenditure on:
Raisingfunds		 5 21,462 1,700 23,162 24,818 1,706 26,524
Charitable activities 6 807,338 - 807,338 617,911 - 617,911
Total expenditure 828,800 1,700 830,500 642,729 1,706 644,435
Netgains/(losses)on
investments
Netmovement in		 on
funds		 11 (149,191)
(205,437)		 (12,725)
(4,443)		 (161,916)
(209,880)		 14,296
(167,898)		 2,060
9,014		 16,356
(158,884)
Fund balances at 1 May 2022 4,828,756 412,280 5,241,036 4,996,654 403,266 5,399,920
Fund balances at 30 April
2023 4,623,319 407,837 5,031,156 4,828,756 412,280 5,241,036
—_— —_— —_ —_ —_—__ —

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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CHESHIRE FREEMASONS' CHARITY

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2023

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Notes|£|£|£|£| |Fixed|assets| |Investments|12|4,715,582|4,891,460| |Current|assets| |Trade|and|other|receivables|14|-|3,885| |Cash|at|bank|and|in|hand|458,836|842,800| |458|836|846,685| |Current|liabilities|15|(143,262)|(497,109)| |Net|current|assets|315,574|349,576| |Total|assets|less|current|liabilities|5,031,156|5,241,036| |Income|funds| |Restricted|funds|16|407|837|412,280| |Unrestricted|funds|4,623,319|4,828,756| |5,031,156|5,241,036| |The financial|statements were approved by the Trustees on tele|20 “%|+|

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CHESHIRE FREEMASONS' CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

1 Accounting policies

Charity information

Cheshire Freemasons’ Charity is an unincorporated charity.

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 (FRS 102) (effective 1 January 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 applying FRS 102 Update Bulletin 1 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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds, which include the George and Norman Potts Bequest are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the

charity.

1.4. Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. theLegaciesamountare isrecognisedknown, andon receiptreceipt oris otherwiseexpected. if theIf thecharityamounthasisbeennot notifiedknown, ofthe anlegacyimpendingis treateddistribution,as a contingent asset.

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CHESHIRE FREEMASONS’ CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

1 Accounting policies

(Continued)

Expenditure has been classified under headings that aggregate all costs relating to the category.

The charity does not own any tangible fixed assets other than assets held as investments.

1.7 Cash and cash equivalents

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, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

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CHESHIRE FREEMASONS' CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2023

1 Accounting policies

(Continued)

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 607,762 346,631

3 Charitable activities

Charitable activities {
Charitable Charitable
Income Income
2023 2022
£ £
TeddiesforLovingCare 7,494 5,413
Investments
Unrestricted
funds		 Restricted
funds		 Total Unrestricted
funds		 Restricted
funds		 Total
2023 2023 2023 2022 2022 2022
£
£
£
£
£
£
**		 **
Income from listed
investments 124,926 9,982 134,908 108,489 8,660 117,149
Income from unlisted
investments 26,657 - 26,657 - - -
Interest receivable 5,715
a		 -
a		 5,715
a		 2
__		 -
a		 2
—_—
157,298 9,982 167,280 108,491 8,660 117,151
eQGy __ = ———— _ ——_—

4 Investments

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CHESHIRE FREEMASONS' CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

5 Raising funds

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Investment management 21,462 1,700 23,162 24,818 1,706 26,524
.
21,462 1,700 23,162 24,818 1,706 26,524

6 Charitable activities

2023 2022
£ £
Expenditure on Activities 12,372 20,681
Grantfunding of activities (see note 7) 762,929 571,642
Share ofsupport costs (see note 8) 25,085 25,588
Share ofgovernance costs (see note 8) 6,952 -
807,338 617,911

7 Grants payable

2023 2022
£ £
Grants to institutions:
Community grants 153,924 148,891
Enhanced grants 128,045 12,333
Area grants 50,000 51,000
Festival contributions 430,960 322,668
Matched grants - 36,750
762,929 571,642

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CHESHIRE FREEMASONS' CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

a

8
Support costs		 8
Support costs		 8
Support costs		 8
Support costs		 8
Support costs		 8
Support costs		 8
Support costs
Support Governance 2023 Support Governance 2022
costs costs costs costs
£ £ £ £ £ £
Lodge administrative
charges		 25,018 - 25,018 25,113 - 25,113
Miscellaneous
administrative charges 67 - 67 475 - 475
Audit fees - 6,952 6,952 - - -
25,085 6,952 32,037 25,588 - 25,588
Analysed between
Charitableactivities 25,085 6,952 32,037 25,588 - 25,588

Governance costs includes payments to the auditors of £2,952 and the 2023 accrual for £4,000.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

There were no employees during the year.

2023 2022
Number Number
Total - -
Therewere no employeeswhose annual remuneration was more than £60,000.
Net gains/(losses) on investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Revaluation of
investments		 (186,974) (1,268) (188,242) (9,619) (3,748) (13,367)
Gain/(loss) on sale of
investments		 37,783 (11,457) 26,326 23,915 5,808 29,723
(148,191) (12,725) (161,916) 14,296 2,060 16,356

11 Net gains/(losses) on investments

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CHESHIRE FREEMASONS’ CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

12 Fixed asset investments

Listed Unlisted Total
investments investments
£ £ £
Cost or valuation
At 1 May 2022 4,871,037 20,423 4,891,460
Additions 556,330 - 556,330
Valuation changes (161,915) - (161,915)
Redeemed - (20,423) (20,423)
Disposals (549,870) - (549,870)
At 30 April 2023 4,718,582 - 4,715,582
Carrying amount
At 30 April 2023 4,715,582 - 4,715,582
At 30 Apri! 2022 4,871,037 20,423 4,891,460
13. Financial instruments 2023 2022
£ £
Carrying amount offinancial assets
Instruments measured at fairvalue through profit or loss 4,715,582 4,871,037
14 Trade and other receivables
2023 2022
Amounts falling due within one year: £ £
Other receivables - 3,885
15 Current liabilities
2023 2022
£ £
Other payables 483 339,904
Accruals and deferred income 142,779 157,205
443,262 497,109

Other payables includes an amount of £483 (2022: £323,929) in respect of donations due to the 2027 Cheshire MCF Festival.

Included in accruals are committed community, area and enhanced grants totalling £138,379 (2022: £154,685) these are ail to be paid out in the year ended 31 April 2024.

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CHESHIRE FREEMASONS' CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023

17 Analysis of net assets between funds Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 30
April 2023 are
represented by:
Investments 4,321,642 393,940 4,715,582 4,499,032 392,428 4,891,460
Current assets/(liabilities) 301,677 13,897 315,574 329,724 19,852 349,576
4,623,319 407,837 5,031,156 4,828,756 412,280 5,241,036

18 Related party transactions

There were no disclosable related party transactions during the year.

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