Charity number: 2S4906 SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE CONTENTS Page Referèncè and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers Trustees. Report Indgpondant Examiner's Report Statement of Financial Activities Balance Sheet Note8 to the Flnancial Statements 8-18
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees Jonathan Waile KC {Chaimianl Tirnolhy Charllon KC Andrew Caldecott KC Sarah Martin Annabel Gough Charlty règlstered number 254906 PYln¢ipal offlce Treasury Office Inner Temple London EC4Y 7HL Secretary Rlchard Loveridge The Committee- Heather Oliver All defined as Trustees Hanif Mussa KC by virtue of the Charities Act2011. Accountants Nyman Libson Paul LLP Chartered Accountants London NW3 5JS Bank¢Y$ Unity Trust Bank PLC Four Brindleyplace Birmingham BI 2JB Investment Managers Schroder & Co. Limited 1 London Wall Place London EC2A 2AP Page fj
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees have tAeasure in presenting their Report and the Financial Statements lor Ihe year ended 5th April 2024. The Financial Slalemenls comply wilh current statutory requiremenls, the Trust Deed and the Slalement of Recommended Practice applicable lo eharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 102. issued in July 2014, and updated in 2019. Objectlvès and actlvltl¢s a. Pollcles and oblectlves The Marshall Hall Trust was orlginally set up under the Will of Sir Edward Marsh811 Hall lo help needy members of The Inner Temple. Wilh Social Security paymenls now available for the elderly this has allowed the Trust to den ils scope lo glve 28SlStance lo some students and pupils, who through no fault of their own, e.g. loss of a parenl or financial support being withdrawn, would not olhetwise be able to complete the Law Conversion course, or more usually the 82r Training Course, or their pupillage. The Trust also liaises with the Inn, interviews those who have made applications lo the Inn for Pupillage Awards, and makes grants to those whose financial circumstances justify it. The Twsl can only help an applicant who is a membèr of The Inner Temple. Dependants of an Inner Templar are not dlreclly eligible for assistance. The object of the Trust is lo give assistance by way of loan or grant to members of The Inner Temple who are in need. The TriJslee5 are also concerned to see that the investments are carefully managed, and that the income is fully used lor the benelit of applicants. However, claims made on the funds vary from year to year, and it is never known in advance how great they will be in any year. In addition to giving direct assistance lo those who have applied lo it Ihe Trust may contribute to payments made by the Barristers, Benevolent Association for the benefit of member5 of The Inner Temple. The Trust's contribution varies from one half in the normal case lo a smaller fraction where large sums are involved. In setting objectives and plannin9 for aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit. including the guidance 'Public benefil.- running a charity {PB21'. b. Maln actlvltle8 undertaken to further the Ch8rlty's purposes for the public benefit Through achieving the above objects tlie Trustees confirm that they comply with their duty lo have regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. Achievements and performance a. Maln a¢hlevement8 of the Charlty The Trustees met four limes during the year lo consider the Trust's financial position, to monitor applicalions to the Trust, and lo review ongoing grants or loans. Individual Trltslees worked with the secretary lo monitor ongoing applications, including interviewing all applicants and making recommendations as to what financial assistance the Trust should provide. In all 3 Ilhreel new beneficiaries were given assistance in the form of a loan, and 2 (two) benefiarleS We given assistance in the fom) of a grant. In addition, and pursuant to its now established practice, following interviews Conducted by some of 11$ members, the Committee approved the making of 6 {sixl Marshall Hall Trust Pupillage awards to those applicants who il was fell desevved extra financial help during their period of pupillage. Page 2
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2024 Achlevements and performance (continued) b. Investment pollcy and performance The Trustees have the power lo invest in any stocks, shares or securities which are permilled by law for trust funds. The Truslees, investment policy is to invest in a spread of investments which will provide a feasonable income return while maintaining the real value of the Trust assets. Trust monies are principa15y invested in a common investment fund managed by Schroders. as appears in note 8 to the accounts. The Trustees consider that the esent balance be¢en UK equities. overseas equities. fixed interest stock and cash is appropriate lo the requirements of the Trust. Financial review Financial review Total incoming reSoUrS during the period amounted lo £42,242 {2023'. £40,246) and total resources expended amounted lo £35,88512023= £33.567) resulting in a net surplus of £64,729 (2023.. deficit of £69,495). Al the reporting date, the Trust had fixed asset investments held al a market value of £955,740 {2023'. £897,368), cash al thè bank of £32,213 (2023.. £36,764) and short term creditors of £5,681 (2023.. £8,604). Net current assets amounted lo £95,679 {2023'. £89,322) and net unrestricted funds lolalled £1,051,419 {2023'. £986,690). b. Going ¢on¢ern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable fulure. For this reason, they continue to adopt the going conceyn basis in prepartng the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. c. ReseNes pollcy All the assets of the Trust are expendable for ils charitable purposes wilhoul distinction beeen capital and income. The Trustees, aim is that, taking one year with another, the payments out should approximate lo the income of the Trust, and that the capilal growth {if any) should be retained within the Trust, although, depending on the number (and the needs} of those who are sU$s[u1 in applying for assislance from the Trust and the overall investment performance, this aim is not necessarily achievable every year. However, no specific income reserve is appropriate. Al the year end the Trust had free resetves of £1,051,41912023'. £986,690), which the Trustees consider sufficient lo cover future expenditure. d. Policy on Grants The Trustees, policy is lo make payments out to members of The Inner Temple who. by reason of age or ill health. are in need of support. As is mentioned above, the Trustees also consider applications for assistance from students. pupils and young barristers who. by reason of an emergency or an unforeseen change of circumstances, would not olhemise be able lo complete their education or pupillage or remain in practice. In addition there is scope for making grants lo the Inn's scholarship applicants whose financial circumstances are such that il is appropriate to provide them with further assistance. The resources of the Trust are such that. save in unusual circumstances, the Trust is unable lo support students, pupils or young barristers who have made insufficient financial provision lo enable them lo complete their education or pupillage or lo remain in practice. Page 3
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure, governan¢e and manag¢ment a. Constilution Sir Edward Marshall Hall for Needy Members of the Inner Temple is a registered charity, number 254906, and is conslituled under a Trust deed. b. Register and policies The Trust has a full Risk Register and a comprehensive Oala Protection Policy. These are both reviewed by the Iruslees on an annual basis, or in the case of Ihe Data Protection Policy sooner if the law changes. c. Methods of appolntment or election of Trustees The slalulory power of 2ppoinling new or additional Trustees (Tnjslee Act 1925 s.36) applies. No person is nomlnaled by the Will of Sir Edward Marshall H811 for the purpose of appointing new Trustees. When vacancies OCCLkr on the Board, new Trustees are recruited through recommendalion and invitation, having shown previou5 commilmenl lo chari18ble work. Newly appointed Trustees are sent briefing inlofmalion about the Trust and their role as Trustee. New Trustees, who are Charity Trustees within the definition contained in s.177 of the Charities Acl 2011 but who are not TTuslees in the noTmal sense of the word, are elected by the Committee from time lo lime among members of The Innei Temple (whether Benchers or members of Hall) as required. statement of Trustegs, responsibilities The TTU51ee5 are responsible for preparing the Trustees, Report and the financial slalemenls in accordan with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of resources, inclu¢Jing ils income and expenditure, for that period. In preparing these rinancial slalemenls, the Tru51ees are required to.. select suitable accounting policies 3nd then apply them con51Stenlly', observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent- slate whether applicable UK Accounting Standards {FRS 102) have been folk)wed. subject lo any material departures disclosed and explained in the financial statements.. prepare the financial slalements on the going concern basis unless il is inappropriale lo presume that the Charily will continue in business. The Trustees are resp)nsible lor keeping adequate accounting records Ihat are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity {Accounls and Reports) Regulations 2008 and the provisions of the Trust deod. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of and signed on their behalf by.. Trustees on Jonathan Waite KC {Chair of Trusleesl 21 2o2S Page 4
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Indep¢ndent Examlner's Report to the Trustees of Slr Edward Marshall Hall for Needy Members of the Inner Temple {'the Charity'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. Responsibillties and Basls of Report As the Trustees of the Charity yoy are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe 2011 Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Oireclions given by the Chaiily Commission under section 145151{bl of the 2011 Act. Independent Examinerfs Statoment Your allenlion is drawn to the fa¢1 that the Charity has prepared the accounts in accordance with Accounting and Reporting by ChaTilies'. Statement of Recommended Practice applicable lo Gharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally ACpIed Accounting Practice effective for rewting 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 examlnalion giving me Cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the accounts do not accord with those records.. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examlnauon. I have no concerns and have come across no other mallers in connection with Ihe examination to which allenlion shoul(J be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report is made solely to the Charilvs Trustees, as a body, in accordance with Part 4 of the ChaTilies (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Charity's Trustees those matters l am required lo slate lo them in an Independent Examiner's Report and for no other purpose. To the fullest exlent permilled by law, I do not accept or assume responsibilily lo anyone other than the Charity and Ihe Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 23 January 2025 Andrew Thomas ACA Nyman Libson Paul LLP 124 Finchley Road London NW3 5JS Page 5
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unre51ricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Investments 42.242 42,242 40,246 Total income 42,242 42,242 40,246 Expenditure on: Raising funds Charitable activities 3.555 32,330 3,555 32,330 2,983 30.584 Total expenditure 35,885 35,885 33.567 Net movement In funds before other recognised gainsl{lossesl 6,357 6,357 6,679 other recognlsèd galnsl{10$sès1: G3inslllosses) on revalualion of fixed assets 58,372 58,372 {76,fj74) Net movement In funds 64,729 64,729 {69,4951 Reconclllatlon of funds: Total fund8 brought forward Nel movement in funds 986.690 64,729 986,690 64,729 1,056,185 169,4951 Total funds carrled forward 1,051,419 1,051,419 986,690 The Statement OF Finaneial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 16 form part of these financial slalemenls. Page 6
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Fixed assets Inveslmenl$ 10 955,740 897.368 955.740 897.368 Current assets Debtors Programme related investments- loans lo beneficiaries 11 1,087 12 68,060 32,213 61,162 36,764 Cash at bank and in hand 101,380 97,926 Creditors.. amounts falling due within one year 13 15,6811 18,604) Net current assets 95.679 89,322 Total net assets 1,051,419 986,690 Charity funds Unrestricted funds 14 1,051,419 986,690 Total funds 1,051,419 986.690 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. on Jonathan Waite KC {Chair of Trustees) 22 J6u44knts 2bzf The notes on pages 8 to 16 form part of these financial stalemenls. Page 7
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 General Informatlon The Sir Edward Marshall Hall for Nee¢Jy Members of the Inner Temple is an unincorporated charity registered in England & Wales. Ils registered office is Treasury Office, Inner Temple, London, EC4Y 7HL. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities: Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared lo give a 'lrue and fal¢ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl reouired lo provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Acwunting and Reporting by Charities.. Statement of Recommended Pra¢lice effective from 1 April 2005 which has since been withdrawn. Sir Edwanl Marshall Hall for Needy Members of the Inner Temple meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless olhenmise slated in the relevant accounting policy. 2.2 Golng concern The Trusl reported a surplus for the year of £6,357 12023= £6,679) before revaluation gains and losses on inveslmenls. The Tiust meets ils day lo day working capital requiremenls through its cash resewes and cash tied up in inve51menls. The TTUStees have a reasonable expectation that the charity has adequate resources to meet ils liabililies as they fall due, and thus the accounts have been prepared on a going concern basis. 2.3 InGome All.income is recognised once the ch2rity has enlitlemenl lo the income, it is probalAe Ihal the ncome.will bg tpceived and the amount of income receivable can be measured reliably. Investment income Consists of interest and dividends accrued on the charily's listed fixed asset investments. They are recognised in the year in which they are received and are shown inclusive of any lax credits. 2.4 Expenditure Expendilure is recognised once there is a legal or ¢onslruclive obligation to transfer economi¢ benefit lo a third party, il is probable that a transfer of economic benefits will be required in setllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by aCtVIty. The costs ol each activity are made up ol the total of direct Cosls and shared costs, including support costs invo5ved in undertaking each activity. Direct Costs allributable lo a single activity are allocated directly lo that activity. Governance costs are those incurred in eonnecllon with administrallon of the charity and compliance with constitutional and slalutory requirements. Page 8
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policles (continued) 2.4 Expendlture {continued) Charilable activities and Governance costs are costs incurred on the charitls operations, including support costs and costs relating lo the governan of the Charity apportioned lo charitable aclivilies. Grants payable Grants payable are payments made to third parties in the furtherance of the charitable objectives of the charity. Unconditional grant offers are accrued once the CIpient has been notified of the grant award and ils payment is probable. Grant awards that are subject to the recipient fulfilling performance or other conditions are accrued when the recipient has been notified of the grant and either the performance condition is mel or any remaining unfulfilled condition alla¢hing to the grant is outside of the control of the Charity. 2.5 Investment$ Investments are included al market value as al the balance sheet dale. Any gains or losses on revaluation are taken to the Stalemenl of Financial Aclivilies. 2.6 Debtors DebloÈE are recognised at the settlement amount, less impairment. 2.7 Cash at bank and in hand Cash al bank and in hand includes cash and deposits with financial inslilulions repayable without penalty on advice of not more than 24 hours. 2.8 Flnan¢lal Instruments Basic financial instruments are measured at amortised cosl other than investments which are measured at fair value. 2.9 Fund accounting All funds are unrestricted, which are available for use al the discretion of the trustees in furtheranGe of the general objectives of the Irusl. Page 9
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Critical accounting estimates and areas of judgment In the application of the charity's accounting policies, the Iruslees are required to make judgements, eslimales 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 lo be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales 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 lulure periods where the revision affects both current and future periods. The Iruslees do not believe that there is a significant risk ol a material adjustment being made to the carrying amounts of assets and liabilities included in these financial slalemenls within the next finaneial year. Investment Income Unreslricled funds 2024 Total funds 2024 Income from listed investments 42,242 42,242 Unreslricled lunds 2023 Total funds 2023 Income from listed investments 40,246 40,246 Page 10
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Expendlture on Yalslng funds Fundralslng tradlng ¢xponse$ Unreslricled funds 2024 Total funds 2024 Investment management lees Bank charges 3,502 53 3.502 53 3,556 3.555 Unreslricled funds 2023 Tolal funds 2023 Investment management fees Bank Charges 2,911 72 2,911 72 2,983 2,983 Analysis of expendlture on ¢harltabl¢ a¢t5vities Summary by fund type Unrestricted funds 2024 Total 2024 Costs of charitable activities 32,330 32,330 Page 11
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expondlture on charitable activities Icontlnuedl Summary by fund type {contlnuedl Unreslricled funds 2023 Total 2023 Costs of charitable a¢livitles 30,584 30,584 Analysis of expendlture by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Costs of charitable activities 20,664 11.666 32,330 Activities undertaken directly 2023 Support cosls 2023 Total funds 2023 Costs of charitable activities 8,125 22,459 30.584 Analys18 of direct costs Total funds 2024 Activities 2024 Grants payable 20,664 20,664 Page 12
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Analysis of expenditure by actlvltle$ (continued) Analysls of dlrect costs (continued) Total funds 2023 Activities 2023 Grants payable 8,125 8,125 During the year to 5 April 2024, a lolal of 9 granls12023- 5 grants) were p8id to indivlduals. which have been included in the above table. Analys18 of Support Gosts Total funds 2024 Activities 2024 Secretarial expenses Insurance costs Governan costs 7,980 436 7,980 436 3,250 3.250 11,666 11.666 Total funds 2023 Activities 2023 Secretarial expenses Bad debts Insurance costs 6.3LK) 5,346 937 9,876 6,300 5,346 937 9,876 Governance costs 22,459 22,459 Included within costs from charitable activities are £3.200 12023.. £9,876) of governsnce costs which comprise audit, accounting, legal and professional costs allribulable to the governan of the charity. Page 13
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Independent examine¢s remuneratlon 2024 2023 Fees payable to the Charivs independent examiner for the independent examination of the Charity's annual accounts Fees payable lo the Charitys auditor for the audit of the Charitls 8nnual accounts 1,400 8,604 Fees payable to the Charily's independent examiner in respect of.. l other services not included above 1,800 Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits12023 - £NILI. During the year ended 5 April 2024, no Trustee expenses have been incurred (2023 - £NIL). Flxed asset investments Lisled investments Cost or valuatlon At 6 April 2023 Movement in market value 897.368 58,372 Al 5 April 2024 965,740 Net book value Al 5 April 2024 955,740 At 5 April 2023 897,388 A8 at the balance sheet dale. the historical cost of the fixed asset investments was £834,731 12023.. £834,731) Page 14
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 11. Debtors 2024 2023 Prepayments and accrued income 1,087 12. Current asset investments 2024 2023 Loans to beneficiaries 68,060 61,162 13. Creditors: Amounts falling due wlthln one yèar 2024 2023 Accruals 5,681 8,804 14. Statement of funds Statement of funds- current year Balance at 6 April 2023 Gainsl Balance at 5 (Losses) April 2024 Income Expenditure Unrestilcted funds General funds 986,690 42.242 135,885) 58,372 1,051,419 Statement of funds - prior year Balance al 1 April 2022 Gainsl Balance at {Losses) 5 April 2023 Income Expenditure Unrestricted funds General funds 1,056,185 40,246 {33,5671 {76,1741 986,890 Page 15
SIR EDWARD MARSHALL HALL FOR NEEDY MEMBERS OF THE INNER TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 15. Analysis of net a$s8ts between funds Analysis of net a$59ts between funds - current period Unreslricled funds 2024 Total funds 2024 Fixed asset investments Current assets 955,740 101,360 (5,6811 955.740 101,360 {5,6811 Creditors due wtlhin one year Total 1,051,419 1,051,419 Analys18 of net assets betW&gn funds - pylor period Unrestricted funds 2023 Total funds 2023 Fixed asset investments Current assets Creditors due within one year 897,368 97,926 18,604) 897,368 97,926 {8,604) Total 986,690 986,690 16. Control and related party transactions The Honourable Society of the Inner Temple {The Inner Temple) control the Trust by virtue ol their powor lo appoint trustees. During the year the Trust paid Pupillage Awards lo Inner Temple members of £9,470 {2023'. £8,1251- The Inner Temple pay the secietarial expenses and reinvoice the cost lo the charity, lotalling £7,980 {2023'. £6,300). Outstanding fees al the year end amo¢Jnted lo £1.721 {2023'. £Nil) and have been included in creditors. Page 16