Charity registration number: 235139
Arthur Norfolk Battersby Trust
Annual Report and Financial Statements for the Year Ended 5 April 2024
The Moffatts Partnership LLP Chartered Accountants Suite 1.1 First Floor Jackson House Sibson Road Sale M33 7RR
Arthur Norfolk Battersby Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 18 |
Arthur Norfolk Battersby Trust
Reference and Administrative Details
Chair Mr D M Stone Trustees Mr D M Stone Mrs N Owen Mrs J Garside Mrs H O'Sullivan Ms T Montgomery Miss A Burns Secretary Mrs J Garside Other Officers Mr D M Stone, Treasurer Charity Registration Number 235139 Principal Office Battersby Court Old Hall Drive Stockport SK2 5UA Independent Examiner The Moffatts Partnership LLP Chartered Accountants Suite 1.1 First Floor Jackson House Sibson Road Sale M33 7RR Bankers Metro Bank 45 Market Street Manchester M1 1WR
Page 1
Arthur Norfolk Battersby Trust
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2024.
Structure, governance and management
Nature of governing document
The governing documents are a Declaration of Trust dated 21 July 1966 and the Charity Commission Scheme sealed 26 July 1971.
Recruitment and appointment of trustees
The Board of Trustees shall consist of a minimum of four nominative and up to four additional co-operative trustees who shall be appointed for a term of four years and five years respectively.
The officers of the charity are appointed on an annual basis.
The board of trustees meets three times each year where matters discussed include issues arising in respect of the bungalows, correspondence received, warden’s reports concerning residents, financial matters including setting rates of contributions from the residents. Day to day duties are allocated amongst the trustees on an agreed basis.
Objectives and activities
Objects and aims
Under the terms of his will Arthur Norfolk Battersby (who died 30.1.1962) created a Trust for the purpose of providing in perpetuity a home or rest house for aged or infirm persons of good character and deserving of assistance who reside within the Borough of Stockport or within a reasonable distance. Priority is given to persons or the widows of persons who during their active lives were engaged in business or a profession.
Objectives, strategies and activities
The dwellings principally consist of 20 bungalows, together with a house occupied by a warden and other ancillary facilities. The charity is managed by a board of trustees who fix the subsidised contributions payable by residents at a level to ensure accommodation is provided in perpetuity.
Public benefit
The Trust furthers public benefit by providing in perpetuity a home or rest house for aged or infirm persons of good character and deserving of assistance who reside within the Borough of Stockport or within a reasonable distance.
Applicants are carefully considered by the Trustees in accordance with the conditions (page 1) set out in the Will.
The charity is a member of the Almshouses Association which offers guidance and advice to members and represents their interests.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Arthur Norfolk Battersby Trust
Trustees' Report
Achievements and performance
The trustees ensure that the dwellings are maintained to a high standard and a complete level of occupancy has been maintained. The expenditure on repairs and running costs is shown in note 4 to the accounts.
A principal ongoing objective is improving the amenity and the provision of clean, comfortable and safe housing for our residents. Repairs when required, are carried out by a panel of trusted panel of contractors and our Warden, who is employed and lives on site, assists in monitoring matters on a daily basis.
The program to build two new bungalows has been satisfactorily completed as has a major upgrade to to the hot water heating supply to each property. Electrical work upgrades continue and certification to current regulatory requirements will follow upon completion.
Standard operating costs remain a challenge but the trust continues to enjoy good fixed price tariffs for electricity and gas and the completion of the major infrastructure works and upgrades will see reserves increase in years to come.
Financial review
The attached financial statements show the current state of the finances which the Board considers to be sound and in it’s opinion, the assets of the Charity are adequate to fulfil its obligations.
Total incoming resources for the year amounted to £122,539 (2023 - £115,313) with expenditure for the year of £298,510 (2023 - £64,339).
Together with a gain on investments of £3,401 the total net movement for the year was a deficit Of £(172,570) (2023 - £26,133 surplus).
Policy on reserves
The trustees have reviewed the reserves of the charity. The review concluded that to allow the charity to be managed efficiently and to provide a buffer for a significant decline in occupancy of the bungalows, a general reserve equivalent to approximately £75,000 should be maintained. This equates to approximately twelve months of unrestricted fund recurring expenditure.
Other reserves (designated funds) are maintained to cover cyclical or extraordinary repairs and for the eventual rebuilding cost of the bungalows.
Funds in deficit
There are no funds in deficit.
Page 3
Arthur Norfolk Battersby Trust
Trustees' Report
Investment policy and objectives
The investments held have been acquired in accordance with powers given by the Will. The trustees have considered the most appropriate policy for investing funds and have found that a mixture of specialised unit trusts, designed for the charity sector, building society bonds and bank deposits meet their requirements both for income and capital growth. The return on investments for the year is considered satisfactory.
Going concern
The trustees are satisfied that the charity remains a going concern.
The annual report was approved by the trustees of the charity on 30 January 2025 and signed on its behalf by:
......................................... Mr D M Stone Chairman and trustee
Page 4
Arthur Norfolk Battersby Trust
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these 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 Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 30 January 2025 and signed on its behalf by:
......................................... Mr D M Stone Chairman and trustee
Page 5
Arthur Norfolk Battersby Trust
Independent Examiner's Report to the trustees of Arthur Norfolk Battersby Trust
I report to the trustees on my examination of the accounts of Arthur Norfolk Battersby Trust for the year ended 5 April 2024.
Responsibilities and basis of report
As the charity trustees of Arthur Norfolk Battersby 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 Arthur Norfolk Battersby Trust's accounts carried out under section 145 of the 2011 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Arthur Norfolk Battersby 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 accounting 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.
...................................... John Saxon F.C.A
The Moffatts Partnership LLP Chartered Accountants Suite 1.1 First Floor Jackson House Sibson Road Sale M33 7RR
Date:.............................
Page 6
Arthur Norfolk Battersby Trust
Statement of Financial Activities for the Year Ended 5 April 2024
| Note Income and Endowments from: Charitable activities 2 Investment income 3 Total income Expenditure on: Charitable activities 4 Total expenditure Gains/losses on investment assets Net (expenditure)/income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ 100,996 21,543 122,539 (288,149) (288,149) 3,401 (162,209) (187,304) (349,513) 737,304 387,791 |
Endowment funds £ - - - (10,361) (10,361) - (10,361) 187,304 176,943 443,536 620,479 |
Total 2024 £ 100,996 21,543 122,539 (298,510) (298,510) 3,401 (172,570) - (172,570) 1,180,840 1,008,270 |
Total 2023 £ 84,759 30,554 |
|---|---|---|---|---|
| 115,313 | ||||
| (64,339) | ||||
| (64,339) (24,841) |
||||
| 26,133 - |
||||
| 26,133 1,154,706 |
||||
| 1,180,839 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 16.
The notes on pages 9 to 18 form an integral part of these financial statements. Page 7
Arthur Norfolk Battersby Trust
(Registration number: 235139) Balance Sheet as at 5 April 2024
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand 14 Creditors: Amounts falling due within one year 15 Net current (liabilities)/assets Net assets Funds of the charity: Endowment funds Unrestricted income funds Unrestricted funds Total funds 16 |
2024 £ 630,675 448,438 1,079,113 1,176 27,199 28,375 (99,218) (70,843) 1,008,270 620,479 387,791 1,008,270 |
2023 £ 457,205 445,037 |
|---|---|---|
| 902,242 | ||
| 876 290,151 |
||
| 291,027 (12,430) |
||
| 278,597 | ||
| 1,180,839 | ||
| 443,536 737,303 |
||
| 1,180,839 |
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 30 January 2025 and signed on their behalf by:
......................................... Mr D M Stone Chairman and trustee
The notes on pages 9 to 18 form an integral part of these financial statements. Page 8
Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Arthur Norfolk Battersby Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
The amount included in the accounts in respect of residents contributions represent the amounts receivable from residents for the year.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received.
Investment income
Investment income is recognised on a receivable basis.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
All resources expended are inclusive of irrecoverable VAT.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes expenditure associated with the running costs and maintenance of the bungalows.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements including independent examination.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
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 charitable company 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.
Tangible fixed assets
Individual fixed assets costing £1.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Furniture and Appliances 15% straight line method Freehold Buildings 1.5% straight line method
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
The permanent endowment fund represents those assets which must be permanently held by the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
2 Income from charitable activities
| Unrestricted | |||
|---|---|---|---|
| funds | Total | Total | |
| General | 2024 | 2023 | |
| £ | £ | £ | |
| Residents Contributions | 100,996 | 100,996 | 84,759 |
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
3 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds Designated £ General £ - 594 6,143 14,806 6,143 15,400 |
Total 2024 £ 594 20,949 21,543 |
Total 2023 £ 446 30,108 |
|---|---|---|---|
| 30,554 |
4 Expenditure on charitable activities
| Warden's remuneration (inc council tax) Gas, electric and water Repairs, renewals and maintenance Care Call Alarm Service Insurance Postage, stationery and telephone Website and internet Sundry Travel expenses Depreciation Independent Examination Loss on disposal Legal Fees Other governance costs |
Unrestricted funds General £ 10,129 21,957 241,819 3,156 2,809 713 378 750 439 3,473 1,680 - - 846 288,149 |
Endowment funds Permanent £ - - - - - - - - - 10,361 - - - - 10,361 |
Total 2024 £ 10,129 21,957 241,819 3,156 2,809 713 378 750 439 13,834 1,680 - - 846 298,510 |
Total 2023 £ 8,061 13,627 20,660 2,618 2,216 744 96 1,800 242 11,317 1,680 349 300 629 |
|---|---|---|---|---|
| 64,339 |
£288,149 (2023 - £56,713) of the above expenditure was attributable to unrestricted funds and £10,361 (2023 - £7,626) to permanent endowment funds.
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
5 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Legal fees Other governance costs |
Unrestricted funds General £ 1,680 - 846 2,526 |
Total 2024 £ 1,680 - 846 2,526 |
Total 2023 £ 1,680 300 629 |
|---|---|---|---|
| 2,609 |
6 Net incoming/outgoing resources
| Net (outgoing)/incoming resources for the year include: Loss on disposal of fixed assets held for the charity's own use Depreciation of fixed assets Independent Examination |
2024 £ - 15,726 1,680 |
2023 £ 349 11,317 1,680 |
|---|---|---|
7 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Miss A Burns
- £65 (2023: £45) of expenses were reimbursed to Miss A Burns during the year.
Mr D M Stone
- £154 (2023: £Nil) of expenses were reimbursed to Mr D M Stone during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries |
2024 £ 8,270 |
2023 £ 6,560 |
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Warden No employee received emoluments of more than £60,000 during the year 9 Independent examiner's remuneration Examination of the financial statements |
2024 No 1 2024 £ 1,680 |
2023 No 1 |
|---|---|---|
| 2023 £ 1,680 |
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
11 Tangible fixed assets
| Cost At 6 April 2023 Additions At 5 April 2024 Depreciation At 6 April 2023 Charge for the year At 5 April 2024 Net book value At 5 April 2024 At 5 April 2023 12 Fixed asset investments Other investments Other investments Cost or Valuation At 6 April 2023 Revaluation At 5 April 2024 Net book value At 5 April 2024 At 5 April 2023 |
Land and buildings £ 508,571 187,304 |
Furniture and equipment £ 26,201 - |
Total £ 534,772 187,304 722,076 77,567 13,834 91,401 630,675 457,205 2023 £ 445,037 |
||
|---|---|---|---|---|---|
| 695,875 | 26,201 | ||||
| 65,035 10,361 |
12,532 3,473 |
||||
| 75,396 | 16,005 | ||||
| 620,479 | 10,196 | ||||
| 443,536 | 13,669 | ||||
| 2024 £ 448,438 Listed investments £ 445,037 3,401 |
|||||
| Total £ 445,037 3,401 448,438 448,438 445,037 |
|||||
| 448,438 | |||||
| 448,438 | |||||
| 445,037 |
Page 15
Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
13 Debtors
| 13 Debtors | ||
|---|---|---|
| Prepayments 14 Cash and cash equivalents Cash on hand Cash at bank 15 Creditors: amounts falling due within one year Accruals Deferred income |
2024 £ 1,176 2024 £ 69 27,130 27,199 2024 £ 93,010 6,208 99,218 |
2023 £ 876 |
| 2023 £ 69 290,082 |
||
| 290,151 | ||
| 2023 £ 6,684 5,746 |
||
| 12,430 |
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Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
16 Funds
| 16 Funds | ||||||
|---|---|---|---|---|---|---|
| Unrestricted funds General General Funds Designated Rebuilding Reserve Fund Extraordinary Repair Fund Cyclical Maintenance Fund Total unrestricted funds Endowment funds Permanent Permanent Endowment Fund Total funds Unrestricted funds General General Funds Designated Rebuilding Reserve Fund Extraordinary Repair Fund Cyclical Maintenance Fund Total unrestricted funds Endowment funds Permanent Permanent Endowment Fund Total funds |
Balance at 6 April 2023 £ 76,664 548,342 59,424 52,873 660,639 737,303 443,536 1,180,839 Balance at 6 April 2022 £ 74,030 845,000 59,670 53,119 957,789 1,031,819 122,887 1,154,706 |
Incoming resources £ 116,395 - 3,072 3,072 6,144 122,539 - 122,539 Incoming resources £ 109,347 - 2,983 2,983 5,966 115,313 - 115,313 |
Resources expended £ (288,149) - - - - (288,149) (10,361) (298,510) Resources expended £ (56,713) - - - - (56,713) (7,626) (64,339) |
Transfers £ 170,000 (345,196) (6,054) (6,054) (357,304) (187,304) 187,304 - Transfers £ (50,000) (278,275) - - (278,275) (328,275) 328,275 - |
Other recognised gains/(losses) £ - 5,721 (1,160) (1,160) 3,401 3,401 - 3,401 Other recognised gains/(losses) £ - (18,383) (3,229) (3,229) (24,841) (24,841) - (24,841) |
Balance at 5 April 2024 £ 74,910 208,867 55,282 48,731 |
| 312,880 | ||||||
| 387,790 620,479 |
||||||
| 1,008,269 | ||||||
| Balance at 5 April 2023 £ 76,664 548,342 59,424 52,873 |
||||||
| 660,639 | ||||||
| 737,303 443,536 |
||||||
| 1,180,839 |
Page 17
Arthur Norfolk Battersby Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
The specific purposes for which the funds are to be applied are as follows:
Rebuilding Reserve Fund - This is a designated reserve fund to cover any costs in relation to rebuilding of the bungalows. Transfers are made to it from general funds.
Extraordinary Repair Fund - This is a designated reserve fund for future major expenditure. Transfers are made to it from general funds and it can be drawn upon to meet major items of repair.
Cyclical Maintenance Fund -This is a designated reserve fund for maintenance occurring at regular intervals, e.g. internal and external redecoration. Transfers are made to it from general funds.
17 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 10,196 - - 448,438 73,856 (45,482) (9,142) (90,076) 74,910 312,880 Unrestricted funds General £ Designated £ 13,669 - - 445,037 75,425 215,602 (12,430) - 76,664 660,639 |
Endowment funds Permanent £ 620,479 - - - 620,479 Endowment funds Permanent £ 443,536 - - - 443,536 |
Total funds at 5 April 2024 £ 630,675 448,438 28,374 (99,218) |
|---|---|---|---|
| 1,008,269 | |||
| Total funds at 5 April 2023 £ 457,205 445,037 291,027 (12,430) |
|||
| 1,180,839 |
18 Related party transactions
There were no related party transactions in the year.
Page 18