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2024-03-31-accounts

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Charity registration number 236141

WOMEN'S CANCER DETECTION SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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WOMEN'S CANCER DETECTION SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees W N Picken
L Ord
P Magnay
Charity number 236141
Registered office 8 St Mary’s Green
Whickham
Newcastle upon Tyne
NE16 4DN
Independent examiner Simon Brown BA ACA DChA
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 3LS
Bankers Lloyds Bank
32 The Gosforth Centre
Gosforth
Newcastle Upon Tyne
Tyne And Wear
NE3 1JZ
Virgin Money plc
Jubilee House
Gosforth
Newcastle Upon Tyne
Tyne And Wear
NE3 4PL
Shawbrook Bank Ltd
Lutea House
Warley Hill Business Park
The Drive, Great Warley
Brentwood
Essex
CM13 3BE
Santander UK Plc
Bridle Road
Bootle
Merseyside
G1R OAA
Solicitors Thomas Magnay & Co LLP
C/O Thomas Magnay & Co
8 St Mary's Green
Whickham
Newcastle Upon Tyne
NE16 4DN

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WOMEN'S CANCER DETECTION SOCIETY

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7 - 14

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WOMEN'S CANCER DETECTION SOCIETY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The aims and objectives of the charity have remained unchanged and have been implemented throughout the year under review. The charity supports the treatment of patients and research into breast cancer. The charity achieves these aims by assisting with financing the purchase of essential equipment which cannot be funded by the National Health Service (NHS). In addition the charity provides funds to support education about breast cancer in the community and maintains a specialised breast cancer library.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Fundraising

The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.

Public benefit

The objectives and activities are listed above. It can be clearly demonstrated that these have been achieved.

The charity has continued to encourage and fund research into breast cancer.

The charity has supported the NHS with specific equipment, which could not be funded by other means.

The charity has provided material support for patients at the Queen Elizabeth Hospital.

In the course of its widespread appeal and collection of funds, the charity has educated large numbers of the general public about breast cancer.

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.

Achievements and performance

The Women’s Cancer Detection Society (WCDS), comprising of the Trustees and Management Committee, has continued to meet its aims of providing real and tangible help to the Radiology Department of the Queen Elizabeth Hospital, Gateshead. The Society achieves this by underwriting the purchase of specialist equipment for diagnosis and treatment which in general cannot be funded by the National Health Service (NHS). In addition, the WCDS provides significant funding in meeting the costs of important research projects.

The day to day administration of the Charity has been very well managed by its Secretary / Manager Kathryn Jobes and its Treasurer Caroline Field who have been well and ably supported by members of the Management Committee. The Charity is also pleased to unreservedly acknowledge and express its sincere thanks for the dedication and expertise of the Clinical Director and staff at the Queen Elizabeth Hospital and Newcastle University.

Voluntary fundraising undertaken by the Charity’s friends and supporters at such varied events as The Great North Run, Pink Day at the Hospital and the Newcastle Beer and Cider Festival is very much appreciated. Also the WCDS is grateful for the varied companies who have adopted the Charity in order to contribute funds. The continued interest and enthusiasm of all the fundraisers remains as strong as ever and the Charity thanks all of the volunteers for their considerable efforts.

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

The results of the year give a report deficit of £3,179 (2023: £19,045). Total reserves carried forward are £341,302 (2023: £344,481), all of which are unrestricted.

Going concern

The charity relies solely upon donations from the public to achieve their objectives of funding the purchase of equipment which the NHS could not afford. These donations are unpredictable and can vary greatly from year to year. The charity does not commit to any purchases in advance of receiving the relevant funds.

The charity also receives requests to fund research projects. Again these are only approved when there are sufficient funds available. The trustees are aware of the funding requirements of the charity and as such are aware that they have to retain sufficient reserves to cover their costs for the foreseeable future.

The trustees have considered the resources available, taking into account reasonable possible changes in performance and the potential impact on the level of donations received. Given the level of reserves and cash held, and the ability to reduce costs accordingly, the trustees consider that there are no material uncertainties about the charities ability to continue as a going concern.

Policy on reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose.It is the policy of the charity to maintain unrestricted funds of the charity at a level which equates to approximately twelve months unrestricted expenditure, which would equate to holding between £60,000 and £70,000 in free reserves. This provides sufficient funds to cover management, administration and support costs and to respond to applications for grants as and when submitted.

At the year-end, free reserves were £224,080 (2023: £194,482), an increase of £29,598 in the year (2023: decrease of £168,526), after designating £117,028 (2023: £149,730) of funds (see note 16). Since the charity is a grant making body, the trustees can vary the grants awarded accordingly and maintain reserves to enable the charity to respond to requests for help.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that the systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trustees who served during the year and up to the date of signature of the financial statements were:

W N Picken L Ord

P Magnay

Women's Cancer Detection Society, which was founded under a trust deed dated 8th April 1964 and last amended on 4th August 2023, is a registered charity with a registered charity certificate number: 236141.

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WOMEN'S CANCER DETECTION SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Key Management Personnel

The day to day management of the charity is delegated to a Committee of Management which includes the trustees and is chaired by Mr W.N. Picken. The non-trustee members of the Committee of Management during the year were as follows:

Mr W.N Picken, Chair Mrs L Ord, Vice Chair Mr P Magnay, Trustee Mrs C Field, Hon treasurer Mrs K Jobes, Finance secretary Mrs J Baines, Committee member Dr L G Lunt, Committee member Mrs A Brown, Committee member Dr A Leaver, Consultant breast radiologist Dr S Lowes, Consultant breast radiologist Dr P Hamilton, Consultant breast radiologist

The charity is managed by voluntary workers and trustees and currently has one part-time paid employee.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and 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 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 year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Nigel Picken 30 Nov 2024 11:57:07 GMT (UTC +0) .............................. W N Picken

Trustee

30/11/2024 Date: .............................................

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WOMEN'S CANCER DETECTION SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WOMEN'S CANCER DETECTION SOCIETY

I report to the trustees on my examination of the financial statements of Women's Cancer Detection Society (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Simon Brown 02 Dec 2024 11:58:25 GMT (UTC +0)

Simon Brown BA ACA DChA

Azets Audit Services Bulman House Regent Centre Gosforth Newcastle Upon Tyne NE3 3LS

02/12/2024 Dated: .........................

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WOMEN'S CANCER DETECTION SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 67,021 50,003
Investments 4 7,131 1,841
Total income 74,152 51,844
Expenditure on:
Raising funds 5 3,413 2,915
Charitable activities 6 73,918 67,974
Total expenditure 77,331 70,889
Net expenditure for the year/
Net movement in funds (3,179) (19,045)
Fund balances at 1 April 2023 344,481 363,526
Fund balances at 31 March 2024 341,302 344,481

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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WOMEN'S CANCER DETECTION SOCIETY

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Designated funds
15
General unrestricted funds		 2024
£
339
345,280
345,619
(4,511)
117,028
224,274		 £
194
341,108
341,302
341,302
341,302		 2023
£
329
347,410
347,739
(3,527)
149,730
194,751		 £
269
344,212
344,481
344,481
344,481

The financial statements were approved by the Trustees on .........................30/11/2024

..............................Nigel Picken 30 Nov 2024 11:57:07 GMT (UTC +0) W N Picken Trustee

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WOMEN'S CANCER DETECTION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Women's Cancer Detection Society is a registered charity with a registered charity certificate number: 236141.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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WOMEN'S CANCER DETECTION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Furniture and equipment 10%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 67,021 49,503
Legacies receivable - 500
67,021 50,003

4 Investments

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,131 1,841

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WOMEN'S CANCER DETECTION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Raising funds

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 3,413 2,915
3,413 2,915

6 Charitable activities

Staff costs
Provision of charitable services
Share of support costs (see note 7)
Share of governance costs (see note 7)
Support costs
Support
costs
Governance
costs
£
£
Staff costs
5,956
-
General office
1,010
-
Depreciation
15
-
Legal and professional
fees
-
2,586
Independent examination
fees
-
3,900
6,981
6,486
Analysed between
Charitable activities
6,981
6,486		 Charitable
Expenditure
Charitable
Expenditure
2024
2023
£
£
23,825
20,996
36,626
37,736
60,451
58,732
6,981
6,242
6,486
3,000
73,918
67,974
2024
Support
costs
Governance
costs
2023
£
£
£
£
5,956
5,249
-
5,249
1,010
978
-
978
15
15
-
15
2,586
-
-
-
3,900
-
3,000
3,000
13,467
6,242
3,000
9,242
13,467
6,242
3,000
9,242		 Charitable
Expenditure
Charitable
Expenditure
2024
2023
£
£
23,825
20,996
36,626
37,736
60,451
58,732
6,981
6,242
6,486
3,000
73,918
67,974
2024
Support
costs
Governance
costs
2023
£
£
£
£
5,956
5,249
-
5,249
1,010
978
-
978
15
15
-
15
2,586
-
-
-
3,900
-
3,000
3,000
13,467
6,242
3,000
9,242
13,467
6,242
3,000
9,242
58,732
6,242
3,000
67,974
2023
£
5,249
978
15
-
3,000
9,242
9,242

7 Support costs

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Independent examiners remuneration

2024 2023
£ £
Independent examination 3,900 3,000

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
1 1
Employment costs 2024 2023
£ £
Wages and salaries 29,110 25,657
Other pension costs 671 588
29,781 26,245

The total employee benefits of the key mangement personnel of the charity were £29,781 (2023: £26,245)

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12 Tangible fixed assets

12 Tangible fixed assets
Furniture and equipment
£
Cost
At 1 April 2023 4,239
At 31 March 2024 4,239
Depreciation and impairment
At 1 April 2023 3,970
Depreciation charged in the year 75
At 31 March 2024 4,045
Carrying amount
At 31 March 2024 194
At 31 March 2023 269
13 Debtors
2024 2023
Amounts falling due within one year: £ £
Prepayments and accrued income 339 329
14 Creditors: amounts falling due within one year
2024 2023
£ £
Other taxation and social security 465 402
Accruals and deferred income 4,046 3,125
4,511 3,527

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 April 2022
£
Designated fund - scarves and wigs
174
Designated fund - PHD 3 year research
project
-
Designated fnd - appointment of fellow
-
Designated fund - biopsy machine
-
174		 Transfers
Balance at
1 April 2023
Resources
expended
Balance at
31 March 2024
£
£
£
£
-
174
(174)
-
66,056
66,056
(32,528)
33,528
18,500
18,500
-
18,500
65,000
65,000
-
65,000
149,556
149,730
(32,702)
117,028		 Transfers
Balance at
1 April 2023
Resources
expended
Balance at
31 March 2024
£
£
£
£
-
174
(174)
-
66,056
66,056
(32,528)
33,528
18,500
18,500
-
18,500
65,000
65,000
-
65,000
149,556
149,730
(32,702)
117,028
117,028

The specific purposes for which the funds are to be applied are as follows:

Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds, where the trustees, at their discretion, have created a fund for a specific purpose.

The basis for calculating 'free reserves' are after allowing for all designated funds, fixed assets and other noncurrent assets and liabilities.

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
2024
2024
£
£
Fund balances at 31
March 2024 are
represented by:
Tangible assets
194
-
Current assets/(liabilities)
224,080
117,028
224,274
117,028		 Total Unrestricted
funds
Designated
funds
2024
2023
2023
£
£
£
194
269
-
341,108
194,482
149,730
341,302
194,751
149,730		 Total
2023
£
269
344,212
344,481

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WOMEN'S CANCER DETECTION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Financial commitments, guarantees and contingent liabilities

Pension commitments

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £671 (2023: £588).

The amount outstanding at the year end and included in creditors is £146 (2023:125).

Other financial commitments

In the prior year the trustees approved a grant for a 3 year research project titled 'The relationship between uptake and efflux transporter in Breast Cancer' for a total financial commitment of £99,816. Costs associated with this project are recognised upon invoice and at year-end £66,288 (2023: £33,760) of costs have been invoiced.

In the prior year the trustees approved a grant towards the first year of funding to appoint a fellow to join the breast surgery team at the Queen Elizabeth Hospital of £18,500. An additional grant was approved in the prior year by the trustees to fund the purchase of a new state of the art Brevera breast biopsy machine for the unit costing £65,000 for a total financial commitment of £83,500. Costs associated with this project are recognised upon invoice and at year-end £Nil of costs have been invoiced.

The total amount of other financial commitments not provided in the financial statements was £117,028 (2023: £149,556). This is due to 'performance conditions' being attached to the ongoing funding such that the board will only commit to future payments on the basis of affordability. As a result no commitment has been provided, but the Charity has designated reserves for these spends.

18 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).