# Gingerbread Trustees Annual Report for the year ended 31 March 2024 Gingerbread, the charity for single-parent families Company number 402748 Charity number 230750 ## **Contents** |Reference and administrative information|3| |---|---| |Key management personal|4| |Introduction from our Chair|5| |Trustees’ report|6 - 8| |Introduction|| |Objects|| |Our vision, mission and values|| |Our impact: the numbers|| |Public benefit|| |Structure, governance and management|| |Renumeration|| |Risk management|| |Fundraising|9 - 11| |Income|| |Expenditure|| |Expenditure: fundraising vs. charitable activities|| |Funders for 2023-24|12| |Financial review|13| |Introduction|| |Reserves policy|| |Going concern|| |Investment policy|| |Statement of responsibility for the trustees|14| |Independent auditor’s report|15 - 17| |Statement of financial activities|18| |Balance sheet|19| |Statement of cashflow|20| |Notes to the financial statements|21 - 33| 2 ## **Reference and administrative information** Charity name: Company number: Country of incorporation: Charity number: Country of registration: Registered office and operational address: Email: Website: Gingerbread, the Charity for Single Parent Families 402748 United Kingdom 230750 England and Wales 82 Tanner Street, London SE1 3GN info@gingerbread.org.uk www.gingerbread.org.uk ## **Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: - Simon Bentley, Chair, appointed 9 December 2020 to 3 July 2023 - Dr Jo Caseborne, appointed 21 July 2021 to 30 October 2024 - Interim Vice Chair from 13 December 2023 to 30 October 2024 - Dr Phil Deans, Vice Chair, appointed 30 October 2024 - Hariette Douglas, appointed 6 December 2024 - Lynette Eastman, appointed 17 February 2021 to 27 March 2024 - Diane Gault, appointed 29 April 2020 - Henry Gregg, appointed 21 July 2021 - Ema Howling, co-opted 27 October 2021 to 30 October 2024 - Mariam Kemple-Hardy, appointed 21 July 2021 to 20 February 2025 - Tom Madders, appointed 21 July 2021 to 4 March 2025 - Interim Chair from 13 December 2023 to 25 November 2024 - Lucy Morgan, appointed 27 October 2021 to 13 June 2024 - Sanaz Nowroozi, co-opted 27 October 2021 - Sarah Pinch, Chair, appointed 25 November 2024 - Evangelos Raptis, Treasurer, appointed 5 February 2020 to 8 December 2023 - Tayyaba Siddiqui, co-opted 27 October 2021 to 30 October 2024 - Ed Tait, appointed 6 December 2024 3 ## **Key management personel** ## **For the period of April 2023 to March 2024** ## **CEO and Company Secretary** Victoria Benson, from February 2019 to December 2024 **Head of Services** Jo Hardy, from July 2019 ## **Head of Finance and Resources** Doug Ridley, from July 2020 to September 2023 Emma Griffiths, from October 2023 to November 2023 Jenny Jones, from January 2024 to March 2024 (interim role) Cheryl Chan, from March 2024 to December 2024 ## **Head of Marketing and Communications** Mark Gorman, from May 2022 to May 2024 (sabbatical leave September 2023 to May 2024) Vaila McClure, from September 2023 to May 2024 (acting up role) ## **Head of Income Generation** Teresa Forgione, from January 2023 to November 2024 **Head of Policy and Campaigns** Sarah Lambert, from October 2023 ## **As of 19 March 2025** ## **Interim CEO** Lisa Pearce, from February 2025 **Company Secretary** Ella Whalley, from December 2024 **Head of Services** Jo Hardy, from July 2019 **Head of Finance and Resources** Theresa Dokpesi, from November 2024 (interim role) **Head of Policy and Campaigns** Sarah Lambert, from October 2023 **Head of Communications and Engagement** Vaila McClure, from June 2024 ## **Bankers** Coutts & Co, St Martin’s Office, 440 Strand, London WC2R 0QS Lloyds Bank Burnley Branch, PO Box 1000, Andover BX1 1LT ## **Solicitors** Bates Wells Braithwaite, 10 Queen Street Place, London EC4R 1BE ## **Auditor** Sayer Vincent LLP, Chartered Accountants and Statutory Auditor, Invicta House, 110 Golden Lane, London EC1Y 0TG 4 ## **Introduction from our Chair** Gingerbread is an extraordinary charity, supporting 2 million single parents in the UK today – a quarter of all families with dependent children. Every single parent is doing an amazing job, raising their children with love, patience and dedication. I know, as I am one of them. It has been my privilege to join Gingerbread as its chair and I am grateful to previous and current trustees and colleagues who have been custodians and leaders of this organisation. Becoming a single parent often begins in a place of distress, loss or trauma – a breakup or bereavement – and doesn’t allow much respite. The dedication of single parents has an impact which cannot be underestimated. As one child of a single parent told us: **‘My mum is my hero. She has been by all of our sides through thick and thin, and fought our battles as well as her own.’** But the world doesn’t work for people bringing up their children on their own and we exist to stand alongside single parents; supporting them and challenging unfair systems like the Child Maintenance Service (CMS). We want to see a world where all single-parent families are thriving, not just surviving. And we’re building a movement of single parents who are dismantling the barriers stacked against them. Together we’ve made great strides in the last year but we know there’s still more to do. I am delighted that we are strengthening our board of trustees and welcome our Interim Chief Executive, Lisa Pearce, to lead Gingerbread at this important time. Thank you to every one of our dedicated staff, all our volunteers and supporters. ## **Sarah Pinch** Gingerbread Chair March 2025 5 ## **Trustees’ report** ## **Introduction** The Trustees present their report and the audited financial statements for the year ended 31 March 2024. Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. Gingerbread is the national charity working with single-parent families. We provide expert information and advice, facilitate peer-to-peer support, and campaign for fair and equal treatment and opportunity for single-parent families. In May 2007, the National Council for One Parent Families (founded in 1918 as the National Council for the Unmarried Mother and her Child) merged with the charity Gingerbread. In June 2013, we changed our registered name from ‘National Council for One Parent Families’ to ‘Gingerbread, the Charity for Single Parent Families’, retaining the working name ‘Gingerbread.’ ## Objects The objects of the charity as stated in the Articles of Association are: - to prevent or relieve poverty and disadvantage and to promote fair and equal treatment and opportunity among single parents and their children, and to promote and protect their wellbeing through the provision of information, advice, education, training and other services - the conducting, commissioning and publication of research - the raising of awareness through publications, use of the media, public advocacy and other means of communication ## Our vision, mission and values ## **Vision** Our vision is of a world where all single parents and their children can thrive ## **Mission** We stand with and support single parents to overcome disadvantage, inequality and injustice ## **Values** We are brave, inclusive, trustworthy, supportive and ambitious 6 **Our impact: the numbers** ## **a) Improving the financial situation of single parents** ## **Advice and information** - 6,057 calls and webchats were answered by our advice service team. 96% of single parents knew what steps to take next after talking to our advice service team - £579 per month per single-parent family – the average amount of unclaimed benefits we identified for single parents who were supported with a benefits calculation ## **Website** - 629,000 people visited our website - 79% of single parents felt better able to make informed decisions after viewing our website information ## **b) Improving the mental health and wellbeing of single parents** ## **Gingerbread community** - 55 local groups, with membership growing to 3,400+ members - 3 in 4 single parents have made positive connections with other single parents thanks to being part of a group ## **Wellbeing programme** - 175 single parents accessed our programme and learnt new tools and strategies to better manage their wellbeing - 88% of single parents felt more confident in their ability to look after their wellbeing as a result of the Programme ## **Policy and campaigning** - Single/lone parents and the key issues which affect them mentioned over 90 times in Parliament - 5 key policy changes which we helped to secure have been implemented 5 further policy changes agreed **> Find out more about our work in our 2023 24 impact report** 7 ## Public benefit The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. ## Structure, governance and management Gingerbread, The Charity For Single Parent Families is a company limited by guarantee (registered number 00402748) and a registered charity (number 230750). Gingerbread’s governing document, the Articles of Association, was revised in 2013. The Board of Trustees is responsible for the overall strategy and direction of the charity. The Trustees delegate the day-to-day management of the organisation to a Chief Executive Officer (CEO), who was Victoria Benson for the reporting period. Board members give their time voluntarily and receive no remuneration. There are a maximum of 15 Trustees, including up to three co-opted trustees, recruited through an open process, informed by a skills and diversity audit. Trustees are appointed for a maximum of two threeyear terms. Trustees take part in an induction day to familiarise themselves with the activities and operations of the charity. They are also provided with a role description and guidance on their duties as trustees. The Board has a Finance Committee, a Nominations Committee and a Fundraising, Brand, Policy & Campaigns (FMBPC) Committee. The Trustees also appoint a Safeguarding lead from among their number. The scheme of delegation details which powers the Board of Trustees retains and which powers are delegated to the CEO. The charity is grateful for the contribution of the 60 volunteers who coordinated local friendship groups either singly or jointly through the year across England and Wales and support the charity in a number of other ways. The charity benefits from the support of its President. ## **Renumeration** Gingerbread is committed to salaries that are fair, transparent, based on market rates within the sector and enable us to recruit and retain expert staff. Gingerbread salaries are benchmarked and set at the median market rate (maximum variance of five per cent above or below) for charity sector salaries for all roles including key management personnel. Gingerbread is accredited by the Living Wage Foundation. The ratio between the highest and lowest salary is 3.6:1. ## **Risk management** The trustees have reviewed the principal risks faced by the charity as well as the controls, procedures and actions established to mitigate and manage those risks. Risks are reviewed regularly with input from managers across the organisation and are documented in a Risk Register which is reviewed by the Finance Committee and Board of Trustees quarterly. 8 ## **Fundraising** Our small fundraising team continued to ensure our ongoing financial sustainability, despite the additional challenges posed by staff turnover. We were once again able to raise significant funds with only a small deficit. Gingerbread’s fundraising mix leans heavily towards statutory and charitable foundations. We are pleased to continue to be supported by a number of significant charitable trusts and foundations, listed below. In particular, we remain very grateful to the Volant Charitable Trust for their continued funding towards our overall work. And we were pleased Fondation CHANEL has joined the Gingerbread family as we embarked on a 3-year programme of policy-led work. We have also continued to diversify and build our individual donor base for both oneoff donations and regular gifts. Our new website is making it easier for supporters to choose to make a donation and we are always delighted and amazed by the variety of challenges which people undertake to raise funds to support single-parent families and their children. Our thanks go to all the parents who shared their personal stories with such candour and enabled us to convey a compelling message to potential donors this year about the challenges of raising children alone. We are very grateful to all our individual donors and matched funders who contributed so generously to the total amount raised. Going into the next financial year, we will continue to work with Run4Charity, and are looking to further develop our individual, community and event fundraising offers so more people can find a way to get involved that suits them. In 2023/24, we continued to implement and uphold regulatory rules and compliance, and worked hard to develop the thousands of relationships we have with our supporters. We’ve maintained our long-standing commitment to the Code of Fundraising Practice in all our fundraising, including when we work with third parties. We adhere to the principles of our fundraising promise and our privacy policy. When we identify people who may be vulnerable, we take steps to protect them from fundraising requests, which can include stopping fundraising communications to them. Our Board of Trustees oversees our fundraising and ensures we comply with all the relevant rules and regulations. On occasion, we work with a small number of third parties to support our work to raise money. We closely monitor all these third parties and the work we do together by holding regular review meetings in order that we can ensure they meet the same high standards as our own fundraisers. Gingerbread does not work with any professional fundraisers on a commission basis. We have put measures in place to ensure personal information is kept safe and secure, and is not shared with anyone else for third parties’ own purposes. We also sign contracts with third parties to ensure they only ever use supporter data on our behalf in accordance with our instructions. And we ask them to adhere to the same high levels of data security as we do, following the Data Protection Act. Gingerbread is registered with the Fundraising Regulator. We did not receive any complaints about our fundraising during the year. 9 ## **Income** |Income|2023/24|2022/23| |---|---|---| |Donations and legacies|£0.62m|£1.00m| |Grants|£1.87m|£0.76m| |Training, consultancy and other activties|£0.01m|£0.03m| |Total|£2.50m|£1.79m| ## **Expenditure** |Expenditure|2023/24|2022/23| |---|---|---| |Raising funds|£0.30m|£0.29m| |Information and advice services|£1.38m|£1.34m| |Training, consultancy and projects|£0.02m|£0.02m| |Researech and policy activities|£0.47m|£0.23m| |Total|£2.17m|£1.87m| 10 **Expenditure: fundraising vs charitable activities** |Expenditure|2023/24|2022/23| |---|---|---| |Charitable activities|£1.87m|£1.59m| |Raising funds|£0.03m|£0.29m| 11 ## **Our grateful thanks to the following principal funders for 2023-24** ## **Charitable trusts and foundations** The 29th May 1961 Charity Allen and Overy Foundation Apple Tree Charitable Trust Beaverbrooks Charitable Trust Chapman Charitable Trust The Charles and Elsie Sykes Trust City Bridge Foundation – London’s biggest independent charity funder David & Ruth Behrend Fund Davis-Rubens Charitable Trust Diana Deyong Charitable Trust The Dulverton Trust The E Slater Charitable Settlement Englefield Charitable Trust Fondation CHANEL The G M Morrison Charitable Trust The Gallus Trust Garfield Weston Foundation Gowling WLG Charitable Trust The Hanley Trust (1987) Highway One Trust The Ione Vassiliou Trust John Armitage Charitable Trust Joseph Rowntree Foundation The Linbury Trust Lloyds Bank Foundation for England and Wales The Michael and Anna Wix Charitable Trust The Nicka Vassiliou Trust Norah and Leslie Prince Chartitable Trust The Paul Bassham Charitable Trust Pears Foundation Richard Cadbury Charitable Trust Sir Jeremiah Colman Gift Trust The Souter Charitable Trust Stanton Ballard Charitable Trust Swire Charitable Trust Totara Charitable Trust The Violet Melchett Children's Trust The Volant Charitable Trust The Wyseliot Rose Charitable Trust **Statutory, lottery funders and other grants** Department for Education Elizabeth Finn Care (Turn2Us)) His Majesty’s Revenue and Customs (HMRC) The National Lottery Community Fund - RC England Wide programme The National Lottery Community Fund (Community Organisations Cost of Living Fund programme) **Corporate supporters** E-Negotiation Ltd, trading as amicable Aura Financial We are immensely grateful to the many individuals who have supported our work throughout the year with donations of all sizes, fundraising activities and taking part in our challenge events. 12 ## Financial review ## Introduction During 2023/24, work has continued on the reengineering and diversifying of Gingerbread’s funding streams. A successful application to a new funder, Fondation CHANEL, contributed to an increase in income for the year (£2,508,058 for 2024 compared to £1,786,559) in 2023. Expenditure increased in the year (£2,165,929 for 2024 against £1,873,584 for 2023). This reflects the investment in staff to expand the Policy and Campaign team to drive our commitment to changing the narrative for single parents as well as recruitment to other roles. Performance for the year shows an increase in restricted funds of £649,506 arising from the new funding, alongside a loss of £289,588 in unrestricted funding primarily due to the loss of previous funding for the Information and Advisory Services which needed to be funded from our reserves. The result for the year is a net surplus of £359,918 (deficit of £99,927 - 2023) after accounting for a gain on investments of £17,789. At the year end, Gingerbread carried forward a balance of £1,042,247 (£682,329 - 2023) of which £731,447(£81,942- 2023) was restricted. The financial statements, including the notes to the accounts, have been prepared in accordance with the Financial Reporting Standard 102. As a charity, the accounts are also prepared in accordance with the Statement of Recommended Practice. ## **Reserves policy** The reserves policy aims to ensure that the charity’s reserves are sufficient to provide continuity of service to our beneficiaries, investment capital and ongoing financial security. The trustees have adopted a policy that aims to have sufficient unrestricted funds set aside to cover three months’ close-down operating costs if needed. At 31 March 2024, these operating costs totalled [£364,200]. Of the total reserves of £1,042,247 at the year-end (2023: £682,329), unrestricted funds amounted to £310,799 (2023: £600,387), which included tangible fixed assets of £18,026 (20213: £14,183), leaving it £53,401 short of the requirement. Trustees feel this is an acceptable shortfall which will be addressed in the following financial year. Funds totalling £39,358 were designated for future use at the end of the year (2023: £38,958) and restricted funds accounted for £731,447 (2023: £81,942) of the reserves balance at year end. ## **Going concern** Income grew in the year ended March 2024 due to securing significant multi-year funding. There remains a strong funding pipeline and the Trustees consider that there are no material uncertainties about Gingerbread’s ability to continue as a going concern. Gingerbread’s reserve position provides an adequate “cushion” against a potential shortfall in income. There are no material uncertainties affecting the current year accounts. Upon the appointment of the interim CEO in February 2025, a comprehensive business review was conducted. On 28 February 2025, the Trustees approved a strategic repositioning of the charity, essential for its sustainability and long-term resilience. The trustees are happy that the charity is a going concern 12 months to March 2026 from the date of signing the accounts. ## **Investment policy** The charity’s policy is to seek to maximise its investment income whilst not incurring a level of risk that is inconsistent with its charitable status. Investments held directly by the charity are: A common investment fund divided between a deposit account and a mixed investment fund A portfolio of shareholdings acquired as the result of a legacy During the reporting period, the charity reviewed its investment policy and worked with an investment manager to develop a longer-term investment plan and manage the portfolio. The charity’s investments are managed by Seven Investment Management. 13 ## **Statement of responsibilities of the trustees** The trustees (who are also directors of Gingerbread for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - There is no relevant audit information of which the charitable company’s auditor is unaware. The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. - The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. - Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2024 was 12 (2022/23:12). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. - Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity. - The trustees annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The trustees annual report has been approved by the trustees on 19 March 2025. Sarah Pinch Chair Dr Phil Deans Vice-Chair 14 ## **Independent auditor’s report** ## Opinion We have audited the financial statements of Gingerbread, the Charity for Single Parent Families (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows 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 FRS 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: - Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended - Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice - Have been prepared in accordance with the requirements of the Companies Act 2006 ## 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 charitable company 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 concern 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 Gingerbread, the Charity for Single Parent Families’ 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 concern are described in the relevant sections of this report. ## Other Information The other information comprises the information included in the trustees’ 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, except to the extent otherwise explicitly stated in our report, 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 or 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. 15 ## Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: - The information given in the trustees’ annual report, for the financial year for which the financial statements are prepared, is consistent with the financial statements; and - The trustees’ annual report has been prepared in accordance with applicable legal requirements. ## Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - The financial statements are not inagreement with the accounting records and returns; or Certain disclosures of trustees’ remuneration specified by law are not made; or We have not received all the information and explanations we require for our audit; or The directors were not entitled toprepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and fromthe requirement toprepare a strategic report. ## Responsibilities of trustees As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) 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, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## Auditor’s responsibilities for the audit of the financial statements 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 Independent auditor’s Report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, are set out below. 16 ## Capability of the audit in detecting irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We enquired of management and the finance committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to: - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. - We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. - We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. - We reviewed any reports made to regulators. - We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. - In addressing the risk of fraud through management override of controls, wetested the appropriateness of journal entries and other adjustments, assessed whether the judgements made inmaking accounting estimates are indicative ofa potential biasand tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all� irregularities, including those leading to a material misstatement in the financial statements or� non-compliance with regulation. This risk increases the more that compliance with a law or� regulation is removed from the events and transactions reflected in the financial statements, as� we will be less likely to become aware of instances of non-compliance. The risk is also greater� regarding irregularities occurring due to fraud rather than error, as fraud involves intentional� concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities isavailable on theFinancial Reporting Council’s� website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s� report. ## Use of our report This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we� might state to the charitable company's members 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 charitable company and the charitable� company's members as a body, for our audit work, for this report, or for the opinions we have� formed. Joanna Pittman 21 March 2025 Senior statutory auditor for and on behalf of Sayer Vincent LLP, 110 Golden Lane, London EC1Y 0TG 17 Statement of financial activities Gingerbread. the Charity for Single Parent Families atemeni of financial aaiviiies (incorporating an incorne and expenditure account) Company no. 00402748 For ihe ar ended 3 1 March 2024 2024 2023 Unrestricted Restricted Total Unre5tr1Cted Restricted Total Note Income from: Donations and legacie5 Charitable activities Information and advice services Tiainino. comsultanty and projects Research and policy actwitie5 In¥e5trnents 622,622 622.622 998,390 998,390 40 12.160 750 3.331 910,806 910.847 12.160 959.098 3.331 956 28.500 705.154 706,110 28.500 53,536 23 958,348 53.536 23 Toial iThcoffje 638,904 1,869,155 2.508.058 1.027.869 758.690 1,786.559 Expendiiure on= Raising funds Charitable activitie5 InfoTmation and advice services Training, consultancy and projecr5 Research and policy actNities 299.674 299.674 285.705 285,705 489.355 7,027 152,392 893.916 1.383.271 7.027 465.957 632.910 17,531 170,243 702.463 1.335,374 17,531 234.974 313.565 64.731 Toial expendituwe 958.448 1.207.481 2,165.929 1,106.390 767.194 1.873.584 r•ei incoffle i iexpenaiTurep DeTore et gains 1 (losses> on irNestmtnis 1319,5451 661,674 342.129 178.5211 18.S041 187.0251 Net gains / 1105sesl on investments 17.789 12.168 17.789 112.9021 112.9021 Transfers betr￿en Funds 112,1681 9,126 19.1261 Nei income I lempendiiure) for the year and Ner Movement in Funds 1289.5881 649,506 359.917 182.2971 117.6311 199.9271 RecoDcili•iioo of fund5'. T¢xal fund5 brouyht forwaid 600,387 81.942 682.329 682.684 99.572 782.256 Toial hnd5 iarried forward 310.799 731.447 1,042.246 600.387 81.942 682.329 All trf the above resuks are deiNed from tontinuing activities. There weTe no otheT recognised gaitts or losses otheT than those stated above. Movements In funds are disclosed In Note 20a to the financial statements. 18 Balance sheet Gingerbread. Ihe Charity for Single Parent Families Balance sheet Company no_ 00402748 As at 31 March 2024 2024 2023 Note Fixed asseis= Tangible assets Intangible asset5 Inve5tmenrs 18.026 39.358 321.798 14,183 38,958 302.577 379.182 355,718 Current a5sels= Debtors Cash at bank and in hand 89.908 713.039 171.438 500.282 802.947 611.720 Liabiliiies= Creditors". amounts falling due wr(hin one year 16 (139.883) 1285,1091 Net current assets 663.064 326,61 Total net a55et5 .042.246 682,329 The fund5 of the charity: Restricted Income funds Unrestricred income funds.. Designated funds General fund5 20a 731.447 81.942 39.358 271.441 38.958 561,429 Total unrestritted funds 310.799 600.387 T￿￿1 charrty funds 1.042.246 682,329 Approved by the tru5Eee5 on 1910312025 and 5ioned on their behaw by Sarah Pinch Chair Dr Phil Deans Wic•-Chair 19 Statement of cash flows Gingerbread. the Charity for Single Parent Families Statemeni of cash flows Company no. 00402748 For the ar ended 31 Irfarch 2024 Note 2024 2023 Cash flows from operating activit•es Mei income l (expendiiure) 359,917 (99,928} Adjusiments for- Depreciation charges Net losses., Igainsl on Investments Investment income 21,199 117,7891 13,331) 8,622 12,902 {23) Ilncreasel , decrease in debtors Increase , Idecreasel in creditors 21,530 127,4631 90,924 1 5,070 Net (￿h provided (used in)Iprovided by operaiing activitli 354.064 27,568 Cash flows from investing activtties= Investment income Purchase of rimed assets Purchase of intangible assets Proceeds from sale of investmenrs Change in cash held in investment Purchase of investments 3.331 113.274) 112.168) 23 17911 138,958) 11,433) 1496) Ner cash provided by l (used ln) invesling aciiviiies 123.544) (40,222) Cash flows from financlng actMt6es: Cash inflows from new borrowing Repayments ol borrowings Net cash provided (used in) financing activities 1117,763) 1121,6351 121 635 Chan9e In cash and cash equlvalents In the year 212,757 1134,289) Cash and cash equNalents at the beginning of rhe year 500,282 634,571 Cash and cash equivalents at the end of the year 713,039 500,282 20 Notes to the financial statements l. Accounting policies a) Statutory information Gingerbread, Ihe Chariry for Single Parenr Families is a charitable company limited by guarantee and is incorporared in England and Wales. The registered office address is 82 Tanner Street, London, SEI 3GN. b) Basls of pieparatlon The financial staiemenis have been prepared in accordance wirh Accounring and Reporring by ChaTiiies-. Sraiemeni of Recommended Pracrice applicable to chariiies preparing rheir accounrs in accordance wilh the Financial Reporring Standard applicable in the UK and Republic of Ireland IFRS 1021- Ichariiies SORP FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Asse15 and liabiliiies are initially recognised at historical cost or transaction value unless otherwise stated In the relevani accounting policy or note. c) Going concern The trustees consider rhai there are no material uncerrainiies abour the charirable company's abiliry ro continue as a going concern. Ar that the time of writing. Gingerbread anticipates returning a small Surplus for rhe year. Our projected cashflow shows a positive balance through to December 2026. and our funding pipeline is strong. d) Oonaiion5 Donaiion5 are recognlsed in the accounting period In which they are receivable. e) Legacles Eniiilement is taken as the earlier of the date on which either" Glngerbread Is aware that probate has been granied, Ihe esiate has been finalised and noiificaiion has been made by the execuiorlsl ro Ihe chariry Ihai a disiribuiion will be made, or when a distriburion 15 received from Ihe esiaie. Receipr of a legacy. in whole or in pan, is only considered probable when the amount can be measured reliably and the chariry has been noiified of the executor's inteniion ro make a disiribution. Where legacies have been notified ro ihe chariry, or ihe chariry is aware of rhe graniing of probaie, and rhe criteria for income recognirion have nor been met, rhen rhe legacy is a rreared as a contingent asser and disclosed If material. Fundralslng Income Fundraising income is shown gross of related expenditure. g) Investment income Investmeni Income is included gross or at ihe amounts receivable plu5 the auribuiable tax credii. h) Fees and 5ale5 Fees for the supply of servlces and publicatlons are recognised when earned. Income recelved In advance for seThlces to be delivered In the following year is treated as deferred Income and included in creditors. Deferred Income In these financlal statements Is shown In Note 17. l) Donated Servlces On receipt, donaied gifts. professional setvices and donated facilities are recognised on the ba515 of the value of ihe gift to the chariry which is Ihe amount Ihe charity would have been willing 10 pay 10 obtain setvice5 or faciliiies of equivaleni economic benefii on the open markei." a coriesponding amouni 15 rhen recognised in expendiiure in ihe period of receipt. 21 Notes to the financial statements j) Fund accounting Restricted funds are subject to resiricrions imposed by rhe donor or by the specific ierms of the charity appeal. These are accounted for separately from unrestricted funds. Details of restricted funds are shown at Note 20. Unresiricred funds are those which are nor subjeci to restrictions. Any surpluses are available for use ai the discreiion of the Trustee5 in furrherance of ihe objeciives of ihe chariry. Designated fund5 form pan of the unrestricted funds and represent amounts earmarked by the Trustees for particular purposes. k) Expenditure Costs apportioned to activlties Include costs of staff time spent on each area of activity. Costs directly incurred in order io deliver rhe aciiviry. and support cosis apponioned according io ihe ratio of siaff lime on ihe area of aciiviry to toral 5raff time. l. Accounting policies (continued) 1> Pension cosis The charily operates a group personal penslon scheme. The assets of the scheme are held separately from those of ihe chariry in independenily adminisiered funds. Payments in respeci of curreni service contriburions are charqed in rhe accounrs as rhey fall due. m) Operating leases Renials payable under operatlng leases are charged to the Income and expendlture account as Incurred. n> VAT Expenditure Is recorded net of VAT and any VAT not recovered from HM Revenue and Customs Is recorded as irrecoverable VAT. 0> Flxed assets Tangible fixed assets Costlng more than £500 are capitalised and depreclated over thelr useful Ilves and shown In the balance sheet at cost less accumulared depreciation. Depreciation is provided at the following rate". Computers and orher equipment - 25% per annum, Furniture & Firrings - 2 5% per annurn. p> Intanglble assets Intangible Fixed assets Include development costs of the V￿b51[e. Amortlsatlon Is provlded at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The amonisation rates are as follow5". Webslte - Straight line over 3 years Ai ihe end of each reponing period. the residual values and useful lives of assets are reviewed and adjusted if necessary. In addition, if events or change in circumsiances indicaie that rhe carrying value may nor be recoverable then rhe carrying values of rangible fixed assets are reviewed for impairment. q> Llabll Itles The accrua15 concept 15 applied. Liabilities are recognised as soon as a legal or constructive obligation arises. Credirors and provisions are recognised where rhe chariry ha5 a present obligation resulting from a past evenl that will probably result in rhe transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nonnally recognised at their settlement amount after allowing for any irade discounts due. T> Tax status The company is a registered chaiity and 15 nor liable to Corporation Tax on it5 current activities. 22 Notes to the financial statements s) Financial instruments The chariry has elected io apply the provisions of Secrion I I 'Basic Financial Instrument5. of FRS 102 ro all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes parry to Ihe contractual provisions of Ihe instrument. Financial asseis and liabilities are offset. wilh the net amounts presented in ihe financial statements, when there is a legally enforceable right to set off the recogn15ed amounrs and there 15 an intenrion ro setile on a ner basis or to reali5e the asset and sertle rhe liabiliiy simultaneously. With the exceptions of prepayments and deferred Income all orher debtor and credltor balances are consldered to be basic financial insirumen15 under FRS 102. See noies 15 and 16 for ihe debior and crediror noles. t) Cash and cash equlvalents Cash at bank and cash in hand Includes cash and short term highly liquid investments with a short maturlty of rhree monihs or less from Ihe date of acquisiiion or opening of rhe deposit or similar accounts. u> Employee benefit5 The costs of short-term employee benefits are recognised as a liability and an expense. v) Crltlcal accountlng estlmates and areas of Judgement In preparing financial staiemont$ 11 is necessary io make certain Judgement5, estimate5 and assumprions thai affect rhe amounts recognised in rhe financial statements. In the view of the Trustees in applying the accounting policies adopted. no judgements were required that have a significani effecr on Ihe amoun15 recognised in ihe financial siaiemenis nor do any esiimates made. 2 Income from donatlons and legacles 2024 Total 2023 Total Unrestrlcted Re5tricied The Volant Charitable Trust Donations 300.000 322.622 300,000 322,622 650.000 348.390 622,622 622.622 998.390 3 InfoTmailon and advlce 5eTvlces 2024 Toral 2023 Total Fees Grants Single parent helpline and advice line 41 910.806 910.847 706.110 41 910,806 910.847 706,110 Information and advice services income includes restricted qrants of £910.80612023-. £705,154) 23 Notes to the financial statements 4 TTaining• consultancy and projects 2024 Total 2023 Toial Fees Grant5 Single parent Employabiliry Training 12,160 12.160 28,500 12,160 12.160 28,500 Training consultancy and project5 income includes restricted grants of £Nil12023'. £Nill 5 Research and pollcy actlvltles 2024 Total 2023 Toial Fees Grants Research and pollcy 750 958.348 959.098 53.536 750 958,148 959.098 53,536 Research and pollcy Income Includes restricted 9rants of £958.348 12023." £53.536) 6 Income from Investments 2024 Total 2023 Total Unrestrlcted Restricted Bank deposlt and orher Inreresr 3,331 3.331 23 3.331 3.331 23 Toral Income from Govemment In the year was £400.012 1202 3.. £383.5951 24 Notes to the financial statements 74 Analy515 of eypendlt¥re (Curreni year> Chantable activit1*5 ormaT on Taining and advlc@ Consultancy sèrvice5 & Pfojecis Ralslng funds Rosoarch Covornance and pollty iosis Support cosis 2024 Toial 202a Total sr4ff cosis (Not• 91 Oirtct tosis Management Finamc Premls45 188.082 19.S48 851.771 89,6SS 9.489 2.638 258.627 109,100 126.051 173.503 1.609.522 221.200 24.060 6.305 86.090 IOS.892 92 17.315 74.254 21.199 1.366,251 248,67S 21.213 2.827 6,305 86.090 105,892 13,79", 8),413 ,401 Tw51ee mterings Audji Offlce admlnistrarlon costs Ooptetiatlon Irr•coverablo VAT 92 17.315 17,54., 11.464 8,621 74.254 21,199 207.6)0 941.626 12.126 367,787 164.691 470.069 2.165.929 1.871.584 SLtpport costs 68.161 325.578 3.629 72,699 1470.0691 Govtrnanct cosis 23,881 114.068 1.272 25,471 (164.691) Total expendlture 2024 299.674 1.38J.271 17,027 465.957 2.165.929 Total *¥pendituie 2023 285.705 1.335,374 17.531 234.974 1.873,584 7b Analysls of *xpendltur* (fvlor yeafl Chariiable aciivltles Inlorrnaiio Training and advice Consulrancy services & PTOJeCts Ralslng funds Research Governance and policy costs Support cosrs 2023 Total Sraff cosrs (Nore 91 Dlrecr cosis Management Finance Prernlses IT Trustee meeiin9S Audlt Office adminisrration costs Depreciation Irrecoverable VAT 137.282 69,168 774,563 129,484 14.469 2,800 128.401 47,222 148,421 163,116 1.360.253 248.675 13.216 13.797 83.413 90.401 193 7.547 31.468 8.62 1 10.585 2,631 13,797 83,413 90.401 193 17,547 31,468 8,621 206.451 904.048 7.269 175.624 176,746 393,448 .873.58 Support C0515 54,688 297,626 40,953 1393,4481 Governance costs 24,567 133.700 18,397 1176.7461 Total expendiruwe 2023 285 705 1 335 374 234 974 1 873 584 25 Notes to the financial statements Nei iniome l (expendiiure) for the year This is siaied after charging i Icreditingl.. 2024 202! Depreciation Operating lease Tenials= Property Other Audllof's remuneraiion lexcluding VAT).. Audit Under accrual from previou5 year Other setvices 21.199 8,622 58.281 58,215 14.700 3,70( 1,46f Analysls of siaff costs. Irustee romuneraiion and expènses. and the cost of key mana9ement personnel Staff cosis were as follows". 2024 2023 Salarles and wages Redundancy and termlnation costs National insurance conirlbutlon5 Pension c05t5 Temporary siaff Staff recruitment 1,369,7a2 1.175,564 144.846 72.258 126,781 56,521 22.686 7,37f 1.609.522 1.166,251 The following number of employees received employee beneflts lexcludlng employer penslon costs and employer's national Insurance) during ihe year berween.. 2024 No. 2023 No. £50.000 - £69,999 £70.000 - £79.999 £80,000 - £89,999 £90.000 - £99,999 EI 00.000 - É109.999 £110,000- £119,999 The total employee benefits (including pension contiibutions and ewnployei's national insuiancel of Ihe key managemeni personnel were £431,834 12023." 366,9531 The charity trusrees were neither paid nor received any other benefits from employment with the charity in the year12023'. £nill. No charity trustee received payment for professional or other services supplied to the charity 12023." £nill. Trustees, expenses represents ihe payment or relmbursement of travel and subslstence costs totalllng £92.0012023.' NII} incurred by members relating io aitendance at meeiings of the irusieesl. 26 Notes to the financial statements 10 Staff numbers The average number of employees (head couni based on number of staff employedl during rhe year was 36.1 FfE12023". 32.7 Staff are spllt across the activlties of ihe charltable company as follows (full time equivalent basis).. 2024 No. 2023 No. Raisinq funds Informaiion and advlce services Traininq. consuliancv and proiect5 Research and policy aciiviiies Support 21.5 19.9 36.1 32.7 I l Related party transactlons As at 31 March 2024, the charlty Was the sole Trustee of the John Bruce's Wlll Trust, a charlty reglsiered In ihe UK whose sole purpose is to hold and disiribute monies to Gingerbread In 2014. All funds were transferred to Glngerbread from the Trusi. Therefore li is now dormant. There are no donations from related parties which are outside the normal course of buslness and no resirlcted donations from relaied parries. 12 Taxailon The charltable company 15 exernpt from corporaiion tax a5 all Irs Income is chariiable and 15 applled for chariiable purptssts. 13 Tanglble and Inianglble flxed a55eis Fixiures and fltllngs Compuier equlpment Total Flxed assets Webslie development Total Inianglble Cost Ar ihe stan of the year Additions In year 44.896 132.387 13,274 177,283 3.274 38.9S8 12,168 38,958 12.168 At ihe end of rhe year 44,896 145.661 190.557 51.126 51.126 Depreciaiion At ihe start of the year Charge foi the year 44.8 118.204 9.431 163.099 9,43 1 11.768 11,768 At rhe end of the yeai Net IMX)k Value At iho end of the year 44.896 127.635 172.53 1 11.768 11.768 18.026 18.026 39.358 39.358 At Ihe stan of the yeai 14.183 14.183 38.958 38.958 All of the above asset5 are used for charitable purposes. 27 Notes to the financial statements 14 Listed investments 2024 2023 Fair value at the start of the year Addiiions at C05t Disposal proceeds Dividend5 and fee5 Nei galn I Ilossl on change In falr value 300.369 313,271 12381 112,6641 17.789 318.158 300,369 Cash held by investment broker pending reinvesiment 3.640 2,208 Falr value at ihe end of the year 321.798 302,577 Investments comprlse.. 2024 2023 UK Comfflon investmenr funds Shares Ilsted on the London siock Exchange Cash 261,928 56.230 3.640 248,198 52,171 2,208 321.798 302,577 The 1151ed Invesrment5 were lasi valued on 31 March 2024 by Seven Invesimeni Management171MI. 15 Debtors 2024 2023 Trade debiors other debiors Prepaymenis and accrued incomè 19.001 274 70,633 24,670 750 86,019 89,908 111,438 With the exception of listed investments. all of the chariry's financial instruments, both assets and liabilities, ale measured at amortlsed cost. 16 CredllOfS= amounts falllng due wlthln one year 2024 2023 Trade creditOlS Taxation and social securlty Accruals Loan capital repayment oiher creditors 52.539 44.417 32.554 81.659 43,645 33,761 18,257 7,787 10.374 139.883 285,109 Included within other creditor5 15 £10.326.77 in re5peci of pension coniribution5 Outstanding at 31 March 2024 12023- £7,739.941. 17 Deferred income Defeired income comprises income received in the year ending 31 st March 2024 that relates to the next financial year. There was no deferred income as at 31 st March 2024. 28 Notes to the financial statements 18 Pension schem The charity operates a group personal pension scheme (Aegonl. The assets of the scheme are held separately from those of the chariry in independently administered funds. Payment5 in respect of current service contribuiions are charged in the accounts as they fall due. The afflount owed to the pension scheme at 31 March 2024 wa5 £10,326.77 and 35 employees were in rhe scheme. 19a Analysis of net asseis between funds (current year) Geneial unrestricted Designated Restrlcted Toial funds Tangible fixed assets Inrangible fixed asseis Invesimenis Nei a55et5 Current Ilabllltles Long term liabilities 18,026 18.026 39,358 321.798 802.947 (139.883 39,358 321,798 71.499 1139.683) 731,447 Net assets at 31 March 2024 271.441 39.358 731.447 1.042.246 19b Analysls of Thet asseis be￿en funds (prlor year) General unrèsiricted Designated Resirlcted Total fund5 Tangible fixed assers Iniangible fixed asseis Inve51menis Nei assets Long term liablliiies 14,183 14.183 38.958 302,577 611.720 (285.1091 38,958 302,577 529,778 1285.1091 81,942 Ner a55ets at l April 2023 501.429 38.958 81.942 682.329 29 Notes to the financial statements 20a Movemen15 In funds {curreni yearl Transfors between funds Income & Ex￿ndIture & Galnsilosse gains bosses Al 31 14arch 2024 2023 Re51ricied funds". Inforfflatlon aTrd ad¥lce servlces Big Lortery & Trusts Advice and Support Nailonal LOITery Community Fund City Bridge Trusi D￿ Family Support SeNices Garfiéld W•ST¢n HMRC Advlce and support Linbury Tum2us 2.420 221.627 75.000 75.500 228.012 75.000 172,000 50.000 13.668 1201.5471 175.0001 171.4891 1223.3321 176.0291 1164.5121 150.0001 132.0081 22,50d 15,164 14.6801 50.029 49.000 17,4881 18.340 Rtseafch and pollcy acilvliles Fondarioll Ch4nel JosÈph R¢wntree Foundatlon Lloyds Bank Foundaiion P¢ar5 Fo¥nd4fion 860.000 8,279 72.244 17.825 1270.4451 (4.2511 121.0441 117.8251 589.555 4,028 51,200 Toial resiwlcted funds 81.942 1,869,1 SS (1,207.4811 731,447 Unw•stilci•d lunds". Deslgn&ted Funds Web51re Developmoni 111 7681 Goneral funds 561.429 038,904 1946,6811 17,789 Toial unresrrlcred funds 600.387 638.904 1958.4481 17.789 12.168 310.799 Toial I￿ndS 682.329 2,5Q8,058 (2,165.9291 17,789 1.042.246 Th• narratlv• to •xplaln th• purpo1• ol •ach fund li qlv•n at th• fool ol th• not• b•low. 30 Notes to the financial statements 20b Mo¥emenrs In funds Iprlor year At i Aprll 2022 Income & Expendiiure & Galnsilosse 9ains losses Al 31 March 2023 Transfe Resirlcted f¥nds'. Informailon and advl