**Charity number: 219512** ## **Adelaide Litten Charitable Trust** ## **Unaudited** **Trustees' report and financial statements** **For the year ended 30 June 2023** ## **Adelaide Litten Charitable Trust** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 17| ## **Adelaide Litten Charitable Trust** ## **Reference and administrative details of the Charity, its Trustees and advisers For the year ended 30 June 2023** |**Trustees**|Mrs Gail Amelia Green| |---|---| ||Mrs Elaine Elizabeth Malone| ||Mrs Melanie Jane Hooper (appointed 14 January 2023)| ||Mrs Judith Ann Robertshaw (appointed 11 May 2023)| ||Mrs Jacqueline Ann Langdon-Bassett (appointed 11 May 2023)| ||Mrs Susan Mary O'Neill (appointed 11 May 2023)| ||Mrs Eileen Frances Karn (appointed 11 May 2023)| ||Mrs Geraldene Mary Greenhalgh (resigned 5 January 2023)| |**Charity registered**
**number**
219512
**Principal office**
27 Pembridge Gardens
London
W2 4EF
**Accountants**
Kreston Reeves LLP
Chartered Accountants
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
**Bankers**
National Westminster Bank PLC
PO Box 1936
46 Notting Hill Gate
London
W11 3ZP
National Westminster Bank PLC
344 Lytham Road
South Shore
Blackpool
Lancashire
FY4 1DY
**Solicitors**
Charles Russell Speechleys LLP
One London Square
Cross Lanes
Guildford
Surrey
GU1 1UN|| Page 1 ## **Adelaide Litten Charitable Trust** ## **Trustees' report For the year ended 30 June 2023** The Trustees present their annual report together with the financial statements of the Charity for the year ended 30 June 2023. ## **Objectives and activities** ## **a. Policies and objectives** The principal objects of the Charity are: (a) to relieve members of the Order who are in need, hardship or distress; (b) to provide and maintain residential homes for the use of such members; (c) to relieve or provide residential homes for dependants of members; (d) to relieve former members and their dependants as per (c); (e) to further other charitable purposes as Trustees determine. Administrative provisions are: (a) to maintain any such property; (b) to manage any such property; (c) to furnish any such property; (d) to sell the property and replace it with such other property as the Trustees decide on similar terms; (e) to invest trust money in securities authorised by law for the investment of trust funds. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Strategies for achieving objectives** The Trustees meet at least four times a year to consider the allowance and assistance given by the Charity to its beneficiaries. Applications for assistance are considered by the Trustees; correspondence with the Trustees concerning a beneficiary's change in circumstances are similarly considered; and the review of the level of allowance given to beneficiaries of the trust is reviewed on an annual basis. The Trustees have absolute discretion as to whom is benefitted by the Charity and, having come to a view on the prospective beneficiary's level of need, hardship or distress they have the power to provide and maintain or assist in the provision and maintenance of residential homes, rest homes, holiday accommodation and other facilities for the use of the prospective beneficiary of the charitable trust. ## **Strategic report** ## **Achievements and performance** ## **a. Review of activities** The charity made grants to petitioners this year totalling £13,000 (2022: £3,257). Page 2 ## **Adelaide Litten Charitable Trust** **Trustees' report (continued) For the year ended 30 June 2023** ## **Strategic report (continued)** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The Charity's funds are applied to assist Order members as requested or to upkeep and refurbish the three properties. The financial position is considered by the Trustees to be healthy. Donations are received from members of the Order but the Charity is not dependent on these donations due to the income produced from the residential homes and investment portfolio. At year end, the Charity had restricted reserves of £900,000 (2022: £900,000) and unrestricted reserves of £4,268,349 (2022: £4,138,581). Unrestricted reserves consists of investments of £3,498,296 (2022: £3,711,906), fixed assets of £398,926 (2022: £398,926), and free reserves of £371,127 (2022: £27,749). ## **Structure, governance and management** ## **a. Constitution** Adelaide Litten Charitable Trust was created by a Declaration of Trust dated 26 March 1941 and a Scheme of Arrangement dated 18 July 1996. The perpetuity period in the original trust deed refers to a "Royal Lives" clause which extends for 21 years after the death of the last survivor of the issue living on the date of settlement of King George V. At the end of the "perpetuity period" the trust becomes a general charity under clause 10. ## **b. Methods of appointment or election of Trustees** By clause 5 of the Scheme every Trustee shall be appointed from persons nominated by the Order of Women Freemasons (the Order) from among its members at a meeting convened and held according to the ordinary practice of the Order. The Trustees being notified of the nominated new Trustee shall have the right to refuse any appointment of any nominated person and to ask the Order to make further nominations. In the event of the Order being unable to appoint any person who is acceptable to the Trustees they may appoint such other person or persons as they think fit in their absolute discretion. Every deed of appointment shall contain a declaration by the new Trustee that she accepts and is willing to act in the trust of the Scheme. ## **c. Organisational structure and decision-making policies** ## **Income** Income from stocks and shares is retained by the brokers for re-investment. Other income is received by the Trustees direct and applied to the running costs of the trust. ## **Trust properties** The Trust owns Northolme which is available for members of the Order and their family and friends for short breaks. A second property is let to a member and a third is vacant. Page 3 Adelaide Litten Charhable Trust Tru$tees' report (continued For tho year ended 30 June 2023 Structure, governance and management Icontinued) d. Financial risk rnanagement The Trustees have assessed the major risks to whith the Charity is exposed. in particular those related lo the operations and finances of the Charity, and are sab"sfied that systems and procedures a￿ in place to mib'gale exposure to the major risks. Plans for future periods The Trustees will continue to manage the Charity in the interest of its beneficiaries and potential beneficiaries. Following the year end, the Trustees plan to sell one of the propetties. Inft>rmatlon on fundralslng practices The Charity has not undertaken any material fvndraising activitses during the ffinanaal year. Ststement of Trust¢es' responsibilitie5 The Trustees are resp)nsible for preparing the Trustees. report and Ihe financi21 statements in accordance with applicable law and Untted Kingdom AccoLEnkn"ng Standards {Uniled Kt'ngdom Generally Accepted Accounting Prac*cel. The law applicable to charits.es in England & Wales requires the Trustees to prepare financial Statements for each financial which give a true and fair view of the state of affairs of the Chanfy and of ils inGoming resources and application of resources, including its income and expenditure. for that period. In preparing these finanaal statements, the Trustees are required to.. select Suitab￿ ￿lUAtiftg policÉes and then appty them (x)nsistendy: observe the methods and principles of the Charities SORP IFRS 1021.. make judgements and accounting estimates that ate reasonable and prudent." stale whether appIl￿ble UK Accounb"ng Standards {FRS 1021 have been followed, subject to any material departures disdosed and explained in the finanual statements.. prepare the financial statements on the going concern ba&s unless it is inappropriate to presume that the Charty will continue in business. The Trustees are responsible for keèping ad4uate accounting records that are sufficient to show and explain the Charity's transartions and disdose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the finanaal statements comply ￿th the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the meM￿r$ of the Ix)ard of Tnjstees and signed on their behalf by." M£5 Mr5 Elaine Elizabeth M ne Dale.. 18.11 1 Page 4 ## **Adelaide Litten Charitable Trust** ## **Independent examiner's report For the year ended 30 June 2023** ## **Independent examiner's report to the Trustees of Adelaide Litten Charitable Trust ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2023. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the accounts 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) 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 been withdrawn. 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 accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. 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 accounts to be reached. Signed: Dated: 16/01/2024 S M Robinson BA FCA FCIE DChA **Kreston Reeves LLP** Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU Page 5 ## **Adelaide Litten Charitable Trust** ## **Statement of financial activities For the year ended 30 June 2023** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
**Total expenditure**
**Net income before net gains/(losses)**
**on investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**17,586**
**9,345**
**82,498**
**109,429**
**26,952**
**61,134**
**88,086**
**21,343**
**108,425**
**129,768**
**4,138,581**
**129,768**
**4,268,349**|**Restricted**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**900,000**
**-**
**900,000**|**Total**
**funds**
**2023**
**£**
**17,586**
**9,345**
**82,498**
**109,429**
**26,952**
**61,134**
**88,086**
**21,343**
**108,425**
**129,768**
**5,038,581**
**129,768**
**5,168,349**|Total
funds
2022
£
9,692
5,730
73,020| |---|---|---|---|---| |||||88,442
26,208
33,851| |||||60,059
28,383
(201,249)| |||||(172,866)
5,211,447
(172,866)| |||||5,038,581| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements. Page 6 Adelaide Litten Charitable T￿￿t Balance sheet As at 30 June 2023 2023 2022 Not¢ Fixed assets Tangible assets Investments 1.298.926 3A98.296 1,298,926 3,711,906 10 4.797222 5,010,832 Current assets Debtors Cash at bank and in hand 1,338 378.799 5,618 31,731 380.137 37,349 Creditors.. amounts falling due wthin one year 13 19.010) 19,6001 Net Current assets 371,127 27,749 Total net assets 5.168.349 5,038,581 Charity funds Restricted funds Unrestricted funds 14 14 900,000 4,268,349 900,000 4,138,581 Total funds 5.168.349 5.038,581 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mrs Elalne Ellzabeth Malone Date.. The notes on pages 8 to 17 fomi part of these financial statements. Page 7 **Adelaide Litten Charitable Trust** **Notes to the financial statements For the year ended 30 June 2023** ## **1. General information** The Adelaide Litten Charitable Trust is an unincorporated charity with the Charity registration number 219512. The address of the registered office is 27 Pembridge Gardens, London W2 4EF. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Adelaide Litten Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or condition that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8 **Adelaide Litten Charitable Trust** **Notes to the financial statements For the year ended 30 June 2023** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Taxation** The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **2.7 Tangible fixed assets and depreciation** The freehold property was independently revalued in 2014. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. ## **2.8 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. Page 9 **Adelaide Litten Charitable Trust** **Notes to the financial statements For the year ended 30 June 2023** ## **2. Accounting policies (continued)** ## **2.9 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.10 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.11 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## **2.12 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.13 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 10 ## **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **3. Income from donations and legacies** |Donations
Legacies
Compensation from bank
Total 2022|**Unrestricted**
**funds**
**2023**
**£**
14,775
2,311
500
17,586
9,692|**Total**
**funds**
**2023**
**£**
**14,775**
**2,311**
**500**
**17,586**
9,692|Total
funds
2022
£
8,288
1,404
-| |---|---|---|---| ||||9,692| ||||| ## **4. Income from charitable activities** |Receipts from visitors and residents
Total 2022
**5.**
**Investment income**
Investment income
Bank interest receivable
Total 2022|**Unrestricted**
**funds**
**2023**
**£**
9,345
5,730
**Unrestricted**
**funds**
**2023**
**£**
81,800
698
82,498
73,020|**Total**
**funds**
**2023**
**£**
**9,345**
5,730
**Total**
**funds**
**2023**
**£**
**81,800**
**698**
**82,498**
73,020|Total
funds
2022
£
5,730| |---|---|---|---| ||||Total
funds
2022
£
73,012
8| ||||73,020| ||||| Page 11 ## **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **6. Investment management costs** |Investment management fees
Total 2022|**Unrestricted**
**funds**
**2023**
**£**
26,952
26,208|**Total**
**funds**
**2023**
**£**
**26,952**
26,208|Total
funds
2022
£
26,208| |---|---|---|---| ||||| ## **7. Analysis of expenditure by activities** |Charitable activities
Total 2022 as restated|**Activities**
**undertaken**
**directly**
**2023**
**£**
45,230
25,111|**Support**
**costs**
**2023**
**£**
15,904
8,740|**Total**
**funds**
**2023**
**£**
**61,134**
33,851|As restated
Total
funds
2022
£
33,851| |---|---|---|---|---| |||||| In previous years, expenditure was analysed by property cost centre, however the Trustees feel this breakdown is not required in 2023 and future years. ## **Analysis of direct costs** |Repairs
Service charges
Ground rent
Light and heat
Water
Rates
Grants to petitioners|**Total**
**funds**
**2023**
**£**
**7,186**
**8,448**
**251**
**10,921**
**1,006**
**4,418**
**13,000**
**45,230**|As restated
Total
funds
2022
£
774
9,607
250
5,212
1,395
4,616
3,257| |---|---|---| |||25,111| Page 12 ## **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Insurance
Telephone
Bank charges
Sundry expenses
Laundry
Gardening and cleaning
Independent examination and accountancy fee
Trustees' expenses reimbursed
Professional fees|**Total**
**funds**
**2023**
**£**
**3,995**
**530**
**60**
**1,051**
**3,434**
**740**
**3,480**
**703**
**1,911**
**15,904**|As restated
Total
funds
2022
£
4,384
461
16
159
420
-
3,300
-
-| |---|---|---| |||8,740| ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 30 June 2023, expenses totalling £703 were reimbursed or paid directly to 1 Trustee (2022 - £NIL). Page 13 ## **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **9. Tangible fixed assets** |**Cost or valuation**
At 1 July 2022
At 30 June 2023
**Net book value**
At 30 June 2023
At 30 June 2022
**10.**
**Fixed asset investments**
**Cost or valuation**
At 1 July 2022
Additions
Disposals
Revaluations
At 30 June 2023
**Net book value**
At 30 June 2023
At 30 June 2022|**Freehold**
**property**
**£**
**900,000**
**900,000**
**900,000**
900,000|**Long-term**
**leasehold**
**property**
**£**
**398,926**
**398,926**
**398,926**
398,926|**Total**
**£**
**1,298,926**| |---|---|---|---| ||||**1,298,926**| ||||**1,298,926**
1,298,926
**Listed**
**investments**
**£**
**3,711,906**
**928,060**
**(1,233,095)**
**91,425**| ||||**3,498,296**
**3,498,296**| ||||3,711,906| Page 14 **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** |**11.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income
**12.**
**Cash at bank and in hand**
Investec Wealth and Investments cash held
Natwest current account (General)
Natwest current account (Northolme)
PDM Management account
**Total**
**13.**
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**2023**
**£**
**-**
**1,338**
**1,338**
**2023**
**£**
**21,652**
**342,793**
**12,288**
**2,066**
**378,799**
**2023**
**£**
**9,010**|2022
£
3,162
2,456| |---|---|---| |||| |||5,618| |||2022
£
9,071
22,064
596
-| |||31,731| |||2022
£
9,600| Page 15 **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **14. Statement of funds** ## **Statement of funds - current year** |**Balance at 1**
**July 2022**
**£**
**Income**
**£**
**Expenditure**
**£**
**Gains/**
**(Losses)**
**£**
**Balance at**
**30 June**
**2023**
**£**
**Unrestricted funds**
General fund
**4,138,581**
**109,429**
**(88,086)**
**108,425**
**4,268,349**
**Restricted funds**
General fund
**900,000**
**-**
**-**
**-**
**900,000**
**Total of funds**
**5,038,581**
**109,429**
**(88,086)**
**108,425**
**5,168,349**
The restricted Northolme fund comprises the net book value of the freehold property of the same name.
**Statement of funds - prior year**
Balance at
1 July 2021
£
Income
£
Expenditure
£
Gains/
(Losses)
£
Balance at
30 June
2022
£
**Unrestricted funds**
General fund
4,311,447
88,442
(60,059)
(201,249)
4,138,581
**Restricted funds**
General fund
900,000
-
-
-
900,000
**Total of funds**
5,211,447
88,442
(60,059)
(201,249)
5,038,581|**Balance at**
**30 June**
**2023**
**£**
**4,268,349**| |---|---| ||**900,000**| ||**5,168,349**| |**Unrestricted funds**
General fund
**Restricted funds**
General fund
**Total of funds**|| ||900,000| ||5,038,581| Page 16 **Adelaide Litten Charitable Trust** ## **Notes to the financial statements For the year ended 30 June 2023** ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2023**
**£**
398,926
3,498,296
380,137
(9,010)
4,268,349|**Restricted**
**funds**
**2023**
**£**
900,000
-
-
-
900,000|**Total**
**funds**
**2023**
**£**
**1,298,926**
**3,498,296**
**380,137**
**(9,010)**| |---|---|---|---| ||||**5,168,349**| ## **Analysis of net assets between funds - prior year** |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2022
£
398,926
3,711,906
37,349
(9,600)
4,138,581|Restricted
funds
2022
£
900,000
-
-
-
900,000|Total
funds
2022
£
1,298,926
3,711,906
37,349
(9,600)| |---|---|---|---| ||||5,038,581| ## **16. Related party transactions** During the year, the Charity has undertaken various transactions with The Grand Charitable Trust of the Order of Women Freemasons of which Mrs M J Hooper is a Trustee. The Charity has received income of £12,947 (2022: £6,749) from The Grand Charitable Trust of the Order of Women Freemasons during the financial year. Page 17