REGISTERED CHARITY NUMBER: 227319
The High Lee House Trust
Financial Statements for the Year Ended 30th September 2023
Allen Mills Howard Limited Chartered Accountants & Statutory Auditors Lewis House 56 Manchester Road Altrincham Cheshire WA14 4PJ
The High Lee House Trust
Contents of the Financial Statements
For the year ended 30th September 2023
Page Trustees’ Annual Report Independent Examiner’s Report Statement of Financial Activities 10 Balance Sheet 11 Notes to the Financial Statements 12
The High Lee House Trust
Trustees’ Annual Report
Year Ended 30th September 2023
The Trustees present their report and financial statements of the Charity for the year ended 30th September 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, 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 (FRS102), effective 1[st] January 2015.
REFERENCE AND ADMINISTRATIVE DETAILS
| Charity Registration Number: | 227319 | |
|---|---|---|
| Trustees: | Mr D C W Lee | Chairman |
| Mr R A Davies | Honorary Treasurer | |
| Mr M K Redhead | Honorary Secretary | |
| Ms E H Lunn | ||
| Mrs J Dickinson | ||
| Mrs L Gower | ||
| Mrs K Thomas | Appointed 17thOctober 2022 | |
| Principal address: | High Lee House | |
| 69 Broad Road | ||
| Sale | ||
| Cheshire | ||
| M33 2HL | ||
| Bankers: | Lloyds TSB Bank Plc | |
| 98 Stamford New Road | ||
| Altrincham | ||
| Cheshire | ||
| WA14 1DG | ||
| Independent Examiner: | David Allen FCCA | |
| For and on behalf of | ||
| Allen Mills Howard Limited | ||
| Chartered Accountants & Statutory Auditors | ||
| Lewis House | ||
| 56 Manchester Road | ||
| Altrincham | ||
| Cheshire | ||
| WA14 4PJ |
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The High Lee House Trust
Trustees’ Annual Report (Continued)
Year Ended 30th September 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The High Lee House Trust is an unincorporated charity constituted under a Trust adopted on 10[th] August 1951, amended on 2[nd] September 1955 and 21[st] March 2003. The Trust was registered with The Charity Commission on 8[th] November 1963.
The Trustees are responsible for the overall supervision of the Charity. The financial affairs are delegated to the Treasurer.
Induction and training of new Trustees
The Trustees are mindful that in selecting individuals for appointment they must have regard to the skills, knowledge and experience needed for the effective administration of the Charity. New Trustees are selected by the existing Trustees and are introduced to the workings of the Charity and are kept updated through regular Trustee meetings and communication throughout the year.
Risk Management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees consider variability of investment returns to constitute the Charity’s major financial risk. This is mitigated by the Charity’s policy of adopting a low risk approach to its investments.
OBJECTIVES AND ACTIVITIES
Objectives and Aims
The objective of the Trust is to carry out charitable work principally within the Borough of Trafford, and, in particular, the advancement of education, the furtherance of health and the relief of poverty, distress and sickness and to promote support for charitable objectives wheresoever they are located.
Donations
The Charity makes donations, in accordance with its objectives, from time to time at the discretion of the Trustees.
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The High Lee House Trust
Trustees’ Annual Report (Continued)
Year Ended 30th September 2023
ACHIEVEMENTS AND PERFORMANCE
Overview of the Year
The list of organisations and groups supported during the year reflects the Trust’s continuing commitment to a diverse range of activities and projects. The emphasis is still on helping locally based groups or, where possible, local branches of national bodies. A relatively small sum has been allocated to international aid, usually in response to a major humanitarian crisis. While the Trust feels it is valuable to maintain this diversity in its allocation of resources, most of the donations are to people and bodies working in familiar and key areas of community activity. The following headings under which donations are grouped reflect this spread.
Under the Chairmanship of David Lee, Trustees have continued to review roles and procedures to ensure that the Trust’s assets and income are being used as effectively as possible. Each request for funding, whether one-offs or regular, is carefully considered within the context outlined in the first paragraph.
Once again, it has been most encouraging and satisfying to receive so many letters of thanks from so many of the organisations we have supported. Some are from those who the Trust has helped over a number of years; others from new recipients. These are difficult times for all charitable and voluntary groups. Piecing together enough funding to sustain the often growing workload is a challenge indeed. Although the actual sums the Trust can afford to give to any one organisation may often seem modest, set against the work and responsibilities they take on, the thank you letters convey one important point. Whatever the sum given, the fact that the Trust recognises the value of their work, and offers support, is in itself greatly appreciated.
The Trust functions by receiving and responding to donation requests. Further information about requesting organisations and their projects, where helpful, is usually sought via email or phone. Opportunities to meet representatives of different organisations and to see their work at first hand, have been fewer than in years past.
Donations made 2022/23
Please note the headings used below to group donations are necessarily broad and overlapping and the work of some of the organisations listed has, of course, different elements.
Young People
Halle for Youth: Continuing our support for this well-established aspect of the Orchestra’s work. This year the Orchestra gave 5 live concerts for young people who attend with School Groups. This year the theme was ‘Green Planet’. During term time Halle Members work in Schools with the children and the work usually covers two of the ten Greater Manchester Boroughs on a rotating basis. £2,000
Prince’s Trust: The Princes’ Trust have several projects in Greater Manchester. At a time of great stress and insecurity for young people the Trust brings hope and motivation back into their lives. £2,000
The Outward Bound Trust: The trust mission is ‘to enable young people to defy their limitations through learning and adventure in the wild’ They have now continued the Outdoor Learning Courses in preference to the former Residential Courses.
£1,000
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The High Lee House Trust
Trustees’ Annual Report (Continued)
Year Ended 30th September 2023
| Prevent 2 Protect:A further contribution to this Charity’s GANG for LIFE project designed to protect |
|---|
| youngsters from gang violence, county lines and substance abuse. These workshops offer health and |
| wellbeing activities. They also help those youngsters already on the offending path who are often excluded |
| from mainstream education by including P.E and boxing tuition in their classes. £750 |
| BBC Children in Need:Purchase of Countryfile calendars to support this familiar, annual appeal. £70 |
| Total £5,820 |
| Sport |
| Sale Sports Club:Purchase of Countryfile Calendars to support this familiar, annual Appeal. £750 |
| Total £750 |
| The Arts |
| Venture Arts:The Young People’s Arts Club is a place for learning disabled youths aged 8-18 to make |
| great art, gain skills, develop friendships and play an important part in Manchester’s culture. Support is given |
| to about 30 youngsters who attend on Wednesday after School and on Saturday mornings. Cultural trips are |
| part of the activities and an annual exhibition is held at a Prominent Gallery such as the Lowry, attended by |
| thousands of visitors. Coming to Venture Arts has important outcomes for families of young people, |
| including mental health and wellbeing. Learning disabled folk are some of the most marginalised in Society. |
| £1,000 |
| Sale Festival:Our usual donation to this well-established, multi-faceted and popular festival. Money raised |
| goes to local charities. £1,500 |
| Total £2,500 |
| Community |
| The Friends of Worthington Park:Continuing our support for Friends Groups in local parks. At |
| Worthington Park we have been happy to help with the development of a ‘carved animal trail’. £1,000 |
| Sale and District Lions Club:For many years the Lions have organised a Father’s Day Fete and Family |
| Fun Day. Our donation will enable the provision of suitable toilet and first aid facilities. £1,000 |
| G-Force:Continuing support for this well established and enterprising local charity. We were happy to |
| support a Community Grocery at the G- force cafe on the Broomwood Estate. £1,200 |
| Total £3,200 |
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The High Lee House Trust
Trustees’ Annual Report (Continued)
Year Ended 30th September 2023
Health
Alzheimer’s Society: Pre and post diagnostic support. A Dementia diagnosis can be terrifying and is undoubtedly life changing. Without a timely diagnosis people are unable to access the financial, health and social care required. £1,500
Stockdales: Our annual contribution to this Sale charity helps people with learning difficulties making a difference to their lives. Stockdales also provide some residential care, aiming to put “ability into disability”. £2,000
St Ann’s Hospice : The oldest hospice in the Manchester Area. Our annual donation helps with the provision of an extensive range of care services for people with life limiting illness, their families and Carers across three sites in Greater Manchester. Since July 2,000 High Lee Trust has donated £50,000 to St. Ann’s. £2,000
Asthma Relief: Once again, we have assisted AR to purchase nebulisers, for our local hospitals. This provision extends to home use by the families of patients and visiting Community Nurses can access more nebulisers for community treatment. £2,000 Francis House Children’s Hospice: Donation to expand the Hospice Home Care Service, which, in turn, diverts the demand for Specialist Care. However, Residential Care for families of patients with a terminal diagnosis continues to be a major plank of the work. Often caring for 2,000 people or 500 families at a given time. £2,000 Macmillan Wellbeing Centre (Manchester University NHS Foundation Trust): Centre at Trafford General Hospital. Our donation to cover the three main areas, treatment, Research and Care which can include the purchase of cutting-edge equipment. £1,000 Tommy’s: This Charity is a Research Centre .Our donation was for the investigation of Still Birth and Associated Pregnancy Care and complications, to better inform clinical care, policy and practice. £750 North West Air Ambulance Charity: A donation to help support their life saving missions. The service operates three helicopters and three care vehicles, carrying paramedics and doctors to scene of emergency. NWAA is a charity, receiving NO funding from Government or the NHS. £1,000 Parkinson’s UK (Trafford Branch): The local branch offers information, friendship, and support to local people with Parkinson’s, their families and carers. £2,000 Together Trust: We have donated to the Autism Sleep Clinic. An active local charity operating in three special schools. They provide specialist care for disadvantaged children and young people with learning difficulties, Autism, Spectrum conditions and sensory impairments. £1,000 Total £15,250
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The High Lee House Trust
Trustees’ Annual Report (Continued)
Year Ended 30th September 2023
| Year Ended 30th September 2023 | |
|---|---|
| Other | |
| Royal British Legion Poppy Appeal 2022:Annual donation to the appeal. | £1,000 |
| British Red Cross:Our response to the Syria and Turkey Earthquake Appeal. BRC work closely with | |
| Turkish Red Crescent who work in local teams providing essential help to survivors of natural disasters. | |
| £1,000 | |
| Total | £2,000 |
| Additional items | |
| Guide Dogs for Blind: | £750 |
| Manchester Foundation NHS Trust: | £1,000 |
| Support Dogs | £750 |
| Wythenshawe Charity Run: | £1,000 |
| Women’s Chai Project: Care help and Inspire CIC | £1,000 |
| Total | £4,500 |
| All donations total | £34,020 |
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The High Lee House Trust
Trustees’ Annual Report (continued)
Year Ended 30th September 2023
FUTURE PLANS
The Trustees do not anticipate any significant change to the Charity or its activities over the next few years.
FINANCIAL REVIEW
Results for the year
A summary of the results for the year can be found on page 10 of the accounts.
The Trust’s work is reliant on income from its investments.
The income that the Trust has received from its investments increased by 24% on the previous year which in turn had increased by 14.8% from 2021. The market value of non-cash investments at the balance sheet date rose by 1.3% during the year, (13.6% increase in the previous year). Cash on long term deposits at the balance sheet date totalled £140,000 (2022: £140,000). The donations the Trust has made in the year have been disclosed under charitable activities on the Statement of Financial Activities.
The income from all its investments represent return of 4% (2022: 3%).
There was an unrealised gain of £6,650 (2022: loss of £86,981) on the Trust’s investment assets during the year. The Trustees will continue to review performances but, given that their investments are being held for the long term, they remain confident that the policy adopted is appropriate for the charity.
Reserves Policy
At their discretion, the trustees may spend all or part of the capital of the charity in the furtherance of the charity’s objects.
Investment Policy and Objectives
The Charity adopts a low risk approach to its investments. The Charity’s investments consist of cash, fixed interest securities and investment funds.
Public benefit
The Trustees confirm that they have, when and where necessary to do so, paid regard to the Charity Commission’s Guidance on Public Benefit when considering and making the decisions.
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The High Lee House Trust
Trustees’ Annual Report (continued)
Year Ended 30th September 2023
The Trustees are responsible for preparing 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations 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 board of trustees on 20[th] June 2024 and signed on its behalf by:
D C W Lee – Trustee
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The High Lee House Trust
Independent Examiner’s Report to the Trustees of the High Lee House Trust
Year Ended 30th September 2023
I report to the trustees on my examination of the accounts of The High Lee House Trust (the Trust) for the year ended 30th September 2023.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Mr David Allen FCCA Allen Mills Howard Limited Chartered Accountants Lewis House 56 Manchester Road Altrincham Cheshire, WA14 4PJ
20[th] June 2024
9
The High Lee House Trust
Statement of Financial Activities
Year Ended 30th September 2023
| Total Funds | Total Funds | ||
|---|---|---|---|
| Note | (Unrestricted) | (Unrestricted) | |
| 2023 | 2022 | ||
| £ | £ | ||
| Income from: | |||
| Investments | 2 | 31,215 | 25,166 |
| __ | __ | ||
| Total income | 31,215 | 25,166 | |
| __ | __ | ||
| Expenditure on: | |||
| Charitable activities | 3 | 34,020 | 53,419 |
| Fundraising activities | 4 | 746 | 747 |
| Other | 5 | 1,689 | 1,088 |
| __ | __ | ||
| Total expenditure | 36,455 | 55,254 | |
| __ | __ | ||
| Net expenditure | (5,240) | (30,088) | |
| Net gains/(losses) on investment assets | 7,851 | (86,981) | |
| __ | __ | ||
| Net movement in funds | 2,611 | (117,069) | |
| Reconciliation of funds | |||
| Funds at the beginning of the year | 794,445 | 911,514 | |
| __ | __ | ||
| Funds at the end of the year | 10 | 797,056 | 794,445 |
| __ | __ |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes form part of these financial statements.
10
The High Lee House Trust
Balance Sheet
| Year Ended 30th September 2023 2023 Note £ Fixed assets Investments 7 781,234 Current assets Cash at bank 16,942 _ 16,942 Creditors: Amounts falling due in one year 8 1,120 _ Net current assets 15,822 _ Net assets 797,056 _ The funds of the charity Unrestricted funds 9 797,056 _ Total charity funds 797,056 _ |
_ |
2022 £ 773,800 21,695 _ 21,695 1,050 _ 20,645 _ 794,445 _ 794,445 _ 794,445 _ |
|---|---|---|
These financial statements were approved by the Trustees on 20[th] June 2024 and signed on their behalf by:
…………………………… Mr R A Davies Treasurer
The notes form part of these financial statements
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The High Lee House Trust
Notes to the Financial Statements
Year Ended 30th September 2023
1. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS102) effective 1[st] January 2015, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), and the Charities Act 2011.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The Charity constitutes a public benefit as defined by FRS102.
The accounts are presented in sterling and rounded to the nearest pound.
Funds structure
The charity’s funds consist of unrestricted funds for use at the discretion of the trustees in furtherance of the general objectivity of the charity.
Income recognition
All incoming resources are recognised once the charity has entitlement to the resources, it is certain the reserves will be received, and the monetary value of the incoming resources can be measured with sufficient reliability.
Interest on funds held on deposits is included upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been received.
Expenditure recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to that expenditure.
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs to that category.
All expenditure is stated inclusive of irrecoverable VAT.
Donations payable are payments made to third parties in the furtherance of the charitable objects of the Trust. There are no long term commitments to give donations.
12
The High Lee House Trust
Notes to the Financial Statements
Year Ended 30th September 2023
Allocation of support and governance costs
Support costs have been differentiated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent review and legal fees together with an apportionment of overhead and support costs.
Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the quoted market price.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors
Realised gains and losses on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.
Cash at bank
Cash at bank includes cash and short term highly liquid investments with a short maturity date of three months or less from the date of acquisition or opening of the deposit or similar account. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
2. Investment income
| UK fixed interest UK investment funds Interest on cash deposits |
2023 £ 6,632 21,372 3,211 _ 31,215 _____ |
2022 £ 4,297 20,672 197 _ 25,166 _____ |
|---|---|---|
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The High Lee House Trust
Notes to the Financial Statements
Year Ended 30th September 2023
| 3. Charitable activities Charitable donations 4. Fundraising activities Investment management costs 5. Other expenditure Other expenses Independent review fees Irrecoverable VAT Comparatives for other expenditure Other expenses Independent review fees Irrecoverable VAT |
2023 £ 34,020 _ 34,020 _ 2023 £ 746 _ 746 _ Support Governance Costs Costs £ £ 551 - - 948 - 190 _ ___ 551 1,138 _ _ Support Governance Costs Costs £ £ 38 - - 875 - 175 _ _ 38 1,050 _ _____ |
2022 £ 53,419 _ 53,419 _ 2022 £ 747 _ 747 _ Total £ 551 948 190 _ 1,689 _ Total £ 38 875 175 _ 1,088 _ |
|---|---|---|
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The High Lee House Trust
Notes to the Financial Statements
Year Ended 30th September 2023
6. Trustees’ remuneration and benefits
There were no trustees’ remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30[th] September 2022.
The charity has no employees.
Trustees’ expenses
There were no trustees’ expenses during the year (2022: £nil).
7. Investments
| Listed Investments £ Market value at 1stOctober 2022 632,777 Additions at cost 32,688 Disposals at market value (32,514) Withdrawals - Unrealised gains/(losses) on revaluation 6,650 Realised gains/(losses) on disposal 1,200 _ Market value at 30th September 2023 640,801 __ |
Cash £ 141,023 - - (590) - - _ 140,433 __ |
Total £ 793,800 32,688 (32,514) (590) 6,650 1,200 _ 781,234 __ |
|---|---|---|
An analysis of the listed investments above is as follows:
| Listed Investments M & G Charibond M & G Charifund HL Fund and Share Account |
2023 £ 198,010 267,781 175,010 _ 640,801 __ |
2022 £ 211,036 256,716 165,025 _ 632,777 __ |
|---|---|---|
Material listed investments with a market value of over 5% of the total market value of investments due as follows:
| No of units/ Listed Investments Shares M & G Charibond 186,819.270 M & G Charifund 18,712.460 HL Multi Manager Income & Growth Trust |
2023 £ 198,010 267,781 44,568 __ |
2022 £ 211,036 256,716 40,812 __ |
|---|---|---|
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The High Lee House Trust
Notes to the Financial Statements
Year Ended 30th September 2023
| 8. CREDITORS: Amounts falling due within one year 2023 £ Accruals 1,120 _ 9. Movement in funds Net B/Fwd Movement 01.10.22 in funds £ £ Total charity funds 794,445 (2,611) _ __ |
2022 £ 1,050 __ |
|---|---|
| C/Fwd 30.09.23 £ 797,056 __ |
Net movement in funds included in above are as follows:
| Gain on | Movement | |||
|---|---|---|---|---|
| Income | Expenditure | Investments | in funds | |
| £ | £ | £ | £ | |
| Total charity funds | 31,215 | (36,455) | 7,851 | 2,611 |
| __ | __ | __ | __ | |
| Comparative figures for movement in funds | ||||
| Net | ||||
| B/Fwd | Movement | C/Fwd | ||
| 01.10.21 | in funds | 30.09.22 | ||
| £ | £ | £ | ||
| Total charity funds | 911,514 | (117,069) | 794,445 | |
| __ | __ | __ |
Net movement in funds included in above are as follows:
Total charity funds |
Gain on Movement Income Expenditure Investments in funds £ £ £ £ 25,166 (55,254) (86,981) (117,069) _ _ _ _ |
|---|---|
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