2024-06-30-accounts

Charity number: 219512

Adelaide Litten Charitable Trust

Unaudited

Trustees' report and financial statements

For the year ended 30 June 2024

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 2024

Trustees	Mrs Gail Amelia Green
	Mrs Elaine Elizabeth Malone
	Mrs Melanie Jane Hooper
	Mrs Judith Ann Robertshaw
	Mrs Jacqueline Ann Langdon-Bassett
	Mrs Susan Mary O'Neill
	Mrs Eileen Frances Karn
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 Independent Examiner Samantha Rouse FCCA DChA Kreston Reeves LLP Chartered Accountants Montague Place, Quayside Chatham Maritime, Chatham Kent, ME4 4QU

Page 1

Adelaide Litten Charitable Trust

Trustees' report For the year ended 30 June 2024

The Trustees present their annual report together with the financial statements of the Charity for the year ended 30 June 2024.

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 £31,591 (2023: £13,000).

Page 2

Adelaide Litten Charitable Trust

Trustees' report (continued) For the year ended 30 June 2024

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 (2023: £900,000) and unrestricted reserves of £4,545,618 (2023: £4,268,349). Unrestricted reserves consists of investments of £3,892,156 (2023: £3,498,296), fixed assets of £481,838 (2023: £398,926), and free reserves of £171,624 (2023: £371,127).

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 three properties, two of which are let to members of the Order and the third is available for members of the Order and their family and friends for short breaks.

Page 3

Adelalde Lrtten Charitable Tn￿t Trustees. report Icontinuedl Forthe y￿arend￿ 30 June 2024 Structure, governance and management Icontinuedl d. Financial risk management The Trustees have assessed the major risks to which the Chaiity is exposed, in particular those relat￿ to the operations and fInan￿S of the Charty, and are satisfEd that systems and prO￿￿re$ are in place lo mitigate exposure lo the major risks. Plans for future periods The Twslees will continue to manage the Charty in the interest of rts beneficiaries and potential beneficiaries. Infomation on fundraislng prnCti￿S The Chanty has nol undertaken any malerial ftjndraising actNtties during the finan(¥al year. Statement of Tru$tees' responslbilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom AccountirKJ Standards Iunrted Kingdom Generalty Accepted Accounting Practice). The law applicable to charrties in England & Wales requires the Trustees lo prepare financial statements for each financial which gDie a tTue and fair view of the stste of affairs of the Charrty and of ils incoming resoLJrces and application of resourcès, including ts income arKI expenditure, for that period. In preparing these financial slalements, the Trustees are required lo= select 5Urtable accounting policies and then apply them consistentty", observe the methods and principles of the Char¥ties SORP IFRS 1021.. make judgements and accounting estimates that are reasonable and prudent," stale whether applicable UK Accounting Slandèrds IFRS 1021 have been followed. subject lo any material departures disclosed and explained in the financial statemenls", prepare the financia5 slalements on the going cortcem basis unless it is inappropriate to presume that the Chatity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Chaws transactions and disclose ￿￿th reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial stslements compty with the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the Trust Lleed. They are also responsible for safeguarding the assets of the Chaty and henGe for taking reasonable steps for the prevention and detection of fraud and other irregularrties. Approved by order of the members of the board of Trustees and signed on their beha￿ by. Mrs Melanie Jane Hooper Mts Elaine Elizabeth Malone Dale.. l ?.10.14 Page 4

Adelaide Litten Charitable Trust

Independent examiner's report For the year ended 30 June 2024

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 2024.

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.

18 October 2024 Signed: Dated:

S M Rouse FCCA 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 2024

Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net (expenditure)/income before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2024 £ 11,018 23,100 70,684 104,802 24,654 149,393 174,047 (69,245) 352,387 283,142 4,268,349 283,142 4,551,491	Restricted funds 2024 £ - - - - - - - - - - 900,000 - 900,000	Total funds 2024 £ 11,018 23,100 70,684 104,802 24,654 149,393 174,047 (69,245) 352,387 283,142 5,168,349 283,142 5,451,491	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

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 Charltable Trust Balance sheet As at 30 June 2024 2024 Note 2023 Flxed assets Tangible assets Investments 1.387.711 3,892.156 1,298,926 3.498.296 10 5.279.867 Current assets 4,797,222 Debtors Castr, at bank and in hand 11 1.203 174,683 1,338 378,799 175,886 380,137 Creditors." amounts falling due within one year 13 (4.262} 19,010} Net current assets 171.624 371,127 Total net assets 5.451,491 5,168.349 Charity *unds Reslricled funds Unrestricted ftjnds 14 14 900.000 4.551.491 900,000 4,268,349 Total fund5 5.451A91 5.168,349 The financial statements were approved and authorised for issije by the Tnjstees and signed on their behalf by. Mts Melanie Jane Hoopar Mrs Elaine El beth Malone Date. The notes on pages 8 10 17 fomi part of these financial statements. Page 7

Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

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.

The financial statements are presented in UK sterling, which is the Charity's functional currency, and rounded to the nearest pound.

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 2024

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 2024

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 2024

3. Income from donations and legacies

Donations Legacies Compensation from bank Total 2023 Income from charitable activities Receipts from visitors and residents Total 2023 Investment income Investment income Bank interest receivable Total 2023	Unrestricted funds 2024 £ 10,658 - 360 11,018 17,586 Unrestricted funds 2024 £ 23,100 9,345 Unrestricted funds 2024 £ 70,178 506 70,684 82,498	Total funds 2024 £ 10,658 - 360 11,018 17,586 Total funds 2024 £ 23,100 9,345 Total funds 2024 £ 70,178 506 70,684 82,498	Total funds 2023 £ 14,775 2,311 500
			17,586
			Total funds 2023 £ 9,345
			Total funds 2023 £ 81,800 698
			82,498

4. Income from charitable activities

5. Investment income

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

6. Investment management costs

Investment management fees Total 2023	Unrestricted funds 2024 £ 24,654 26,952	Total funds 2024 £ 24,654 26,952	Total funds 2023 £ 26,952

7. Analysis of expenditure by activities

Charitable activities Total 2023	Activities undertaken directly 2024 £ 63,220 45,230	Support costs 2024 £ 86,173 15,904	Total funds 2024 £ 149,393 61,134	Total funds 2023 £ 61,134

Analysis of direct costs

Repairs Service charges Ground rent Light and heat Water Rates Grants to petitioners	Total funds 2024 £ 9,906 5,072 250 11,021 998 4,382 31,591 63,220	Total funds 2023 £ 7,186 8,448 251 10,921 1,006 4,418 13,000
		45,230

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Insurance Telephone Bank charges Sundry expenses Laundry Loss on disposal of asset Gardening and cleaning Independent examination and accountancy fee Trustees' expenses reimbursed Professional fees	Total funds 2024 £ 4,076 600 72 3,320 1,727 56,938 1,200 3,570 344 14,326 86,173	Total funds 2023 £ 3,995 530 60 1,051 3,434 - 740 3,480 703 1,911
		15,904

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 June 2024, expenses totalling £NIL were reimbursed or paid directly to 1 Trustee (2023 - £703).

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

9. Tangible fixed assets

Cost or valuation At 1 July 2023 Additions Disposals At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 10. Fixed asset investments Cost or valuation At 1 July 2023 Additions Disposals Revaluations At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023	Freehold property £ 900,000 295,873 - 1,195,873 1,195,873 900,000	Long-term leasehold property £ 398,926 - (207,088) 191,838 191,838 398,926	Total £ 1,298,926 295,873 (207,088)
			1,387,711
			1,387,711 1,298,926 Listed investments £ 3,498,296 517,651 (476,178) 352,387
			3,892,156 3,892,156
			3,498,296

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

11. Debtors

Due within one year 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	2024 £ 1,203 1,203 2024 £ 6,652 148,677 12,165 9,132 176,626 2024 £ 4,262	2023 £ 1,338
		1,338
		2023 £ 21,652 342,793 12,288 2,066
		378,799
		2023 £ 9,010

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

14. Statement of funds

Statement of funds - current year

					Balance at
	Balance at 1			Gains/	30 June
	July 2023	Income	Expenditure	(Losses)	2024
	£	£	£	£	£
Unrestricted funds
General fund	4,268,349	104,802	(174,047)	352,387	4,551,491
Restricted funds
General fund	900,000	-	-	-	900,000
Total of funds	5,168,349	104,802	(174,047)	352,387	5,451,491
Statement of funds - prior year
					Balance at
	Balance at			Gains/	30 June
	1 July 2022	Income	Expenditure	(Losses)	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

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Adelaide Litten Charitable Trust

Notes to the financial statements For the year ended 30 June 2024

15. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2024 £ 487,711 3,892,156 175,886 (4,262) 4,551,491	Restricted funds 2024 £ 900,000 - - - 900,000	Total funds 2024 £ 1,387,711 3,892,156 175,886 (4,262)
			5,451,491

Analysis of net assets between funds - prior period

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

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 £9,502 (2023: £12,947) from The Grand Charitable Trust of the Order of Women Freemasons during the financial year.

There were no other related party transactions undertaken during the current or prior year.

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