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2022-10-31-accounts

Charity registration number 266699

THE FAIRFIELD TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

THE FAIRFIELD TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Brigadier R C J Dick CBE Mr J N Bray Mrs U C Price-Moss Mr M Tester Mr R Balfry Patron The Right Reverend Nicholas McKinnell, Bishop of Plymouth Charity number 266699 Principal address Hyde Hill 146 Above Town Dartmouth Devon TQ6 9RH Business address Fairfield Huxtable Cockington Torquay Devon TQ2 6RN Independent examiner Darnells Chartered Accountants Quay House Quay Road Newton Abbot Devon TQ12 2BU Solicitors Thomas Eggar Belmont House Station Road Crawley West Sussex RH10 1JA

THE FAIRFIELD TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the accounts 7 - 15

THE FAIRFIELD TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 OCTOBER 2022

The Trustees present their report and accounts for the year ended 31 October 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's governing document (see below), 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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The objects of the Trust are to provide good accommodation for missionaries, clergy and other Christian church workers, their spouses, widows or widowers, who have given up opportunities of lucrative careers for the purpose of serving humanity whether in the United Kingdom or overseas and have been unable to provide a home of their own.

The objectives of the Trustees for the year are shaped by these strategic aims, with a view to improving the number of units of accommodation available, and obtaining income for the benefit of the Trust and its residents by maintaining and improving the value of its investments.

The Trust does not actively fundraise, but seeks to continue to further its objectives through the careful stewardship of its existing resources.

Details of the activities of the Trust during the year were as follows:

Achievements and performance

With all the flats let and a waiting list in place, the Trust has maintained a strong income position, and the detailed review of expenditure that was undertaken has identified savings for a full financial year. However, the refurbished buildings are now 10 years old, so repair and maintenance costs have arisen. At the beginning of the year the Trust's investments with M&G were reviewed, and our investments in M&G Charibond fixed interest units were moved to M&G Charifund equity income units.

The significant rise in energy costs has been a major concern to residents, most of whom are on benefits, so the Trust has provided a modest cost of living grants to help offset some of their additional costs. Also, electric instant water heaters have been installed in some of the flats to reduce dependency on gas.

The Trust remains well endowed, with sufficient reserves to keep the properties in good order and a clear line of succession of Trustees is in place to provide continuity for the Trust.

The Fairfield Trust is in a stable position for the foreseeable future.

How the activities of the Trust deliver public benefit:

The main activity of the Trust and who it tries to help are described below. In planning its activities for the year, the Trustees kept in mind the Charity Commission's guidance on public benefit to aid them in determining their objectives. The focus of the activities of the Trust therefore continued to be the provision of independent living quarters for missionaries, clergy and other Christian church workers, their spouses, widows or widowers, either on retirement or during leave who have been unable to provide a home of their own.

Who used and benefited from the services of the Trust:

The objects of the Trust and its funding limit the accommodation available to 16 flats (of which one is currently a guest flat). The Trustees take account of the financial means of potential beneficiaries, when determining the rent or other contribution towards the costs of providing the accommodation. The Trustees estimate the number of people helped by the Trust during the year at 15 (2021: 15).

THE FAIRFIELD TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

Financial review

During the year, the Total income of the Trust increased from £109,417 for 2021 to £113,777, mainly as a result of an increase in Investment income of £3,927 in 2022 arising from the decision taken to move the Trust's M&G Charibond fixed interest units into M&G Charifund equity income units.

Total resources expended by the Trust amounted to £71,409 (2021: £69,525). The increase in 2022 is due mainly to increases in Light and heat of £3,045 and Insurance of £2,682 more than offsetting the decreases in Rates and Repairs and maintenance.

The value of the Trust's existing investments has fallen by £31,773 from £259,404 at 31 October 2021 to £227,631, a decrease of 12.2% which compares with a rise in the stock market generally of 6.1% over the year to 31 October 2022 (based on the FTSE All Share Index).

The Net movement in funds for the year was a surplus of £10,595 (2021: surplus of £57,252). The Trustees consider the overall financial position of the Trust to be good.

Reserves policy

It is the policy of the Trust that free unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to approximately three year’s expenditure on charitable activities, which at 31 October 2022 amounted to approximately £214,000. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised.

Actual free unrestricted funds not designated for a specific use at 31 October 2022 amounted to £71,516 (2021: £206,316). The decrease is as a result of the moving of the M & G Charibond fixed interest units (valued at £162,519 on 31 October 2021) from reserve funds not designated for a specific use, into M&G Charifund equity income units in order to boost the Trust's income in the future.

Risk management :

The Trustees have assessed the major strategic, business and operational risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for the future

The Trust is a lasting testimony to the generosity and charitable concerns of past donors, including the late Revd. A W Dick and others. The Trust plans to continue the activities outlined above in the forthcoming years, subject to satisfactory levels of income generated from rent and investments.

Structure, governance and management

The Fairfield Trust is an unincorporated Trust, established by a charitable trust deed dated 12 November 1973 (as subsequently amended on 18 August 2003, 22 April 2004 and 25 September 2017), and is a registered charity with the number 266699 (England and Wales).

The Trustees who served during the year and up to the date of signature of the financial statements were: Brigadier R C J Dick CBE Mr J N Bray Mrs U C Price-Moss Mr M Tester Mr R Balfry

THE FAIRFIELD TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

Recruitment and appointment of Trustees:

The Trust has 5 Trustees. The Trustees meet at least once a year to administer the Trust.

The Board of Trustees discusses the recruitment of new Trustees for their experience, empathy and knowledge of the Trust, and to keep the skills and composition of the Trustee body as a whole and succession planning under review. New Trustees may be sought by open advertisement or through dialogues with other institutions with similar objects.

All the Trustees give their time voluntarily and receive no benefits from the Trust. Any expenses reclaimed by the Trustees from the Trust are set out in note 7 to the accounts.

Organisational structure:

The Trust is managed by the Board of Trustees, who delegate the day-to-day management of the Trust's properties to Belmont Management Services (South West) Limited trading as "Belmont Property Management".

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

Brigadier R C J Dick CBE

Trustee

Dated: 11 July 2023

THE FAIRFIELD TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FAIRFIELD TRUST

I report to the Trustees on my examination of the financial statements of The Fairfield Trust (the Trust) for the year ended 31 October 2022.

Responsibilities and basis of report

As the Trustees of the Trust 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 Trust’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.

Mr P A Beard ACA, FCCA Darnells Chartered Accountants

Dated: 7 June 2023

Quay House Quay Road Newton Abbot Devon TQ12 2BU

THE FAIRFIELD TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income and endowments from:
Charitable activities 2 101,885 99,942
Investments 3 11,892 7,965
Other income 4 - 1,510
Total income 113,777 109,417
Expenditure on:
Charitable activities 5 (71,409) (69,670)
Other 9 - (145)
Total resources expended (71,409) (69,525)
Net gains/(losses) on investments 10 (31,773) 17,360
Net movement in funds 10,595 57,252
Fund balances at 1 November 2021 2,799,660 2,742,408
Fund balances at 31 October 2022 2,810,255 2,799,660

THE FAIRFIELD TRUST

BALANCE SHEET

AS AT 31 OCTOBER 2022

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
General unrestricted funds
Revaluation reserve
16		 2022
£
£
2,511,108
227,631
2,738,739
34,464
55,757
90,221
(18,705)
71,516
2,810,255
2,792,238
18,017
2,810,255
2,810,255		 2021
£
£
2,496,459
259,404
2,755,863
18,167
40,372
58,539
(14,742)
43,797
2,799,660
2,747,058
52,602
2,799,660
2,799,660		 2021
£
£
2,496,459
259,404
2,755,863
18,167
40,372
58,539
(14,742)
43,797
2,799,660
2,747,058
52,602
2,799,660
2,799,660
2,755,863
43,797
2,799,660
2,799,660
2,799,660

The financial statements were approved by the Trustees and authorised for issue on 11 July 2023 and are signed on its behalf by:

Brigadier R C J Dick CBE Mr R Balfry Trustee Trustee

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

Charity information

The Fairfield Trust is an unincorporated trust, established by a charitable Trust Deed dated 12 November 1973 (as subsequently amended on 18 August 2003, 22 April 2004 and 25 September 2017), and is a registered charity with the number 266699 (England and Wales). The principal address of the Trust is Hyde Hill, 146 Above Town, Dartmouth, Devon TQ6 9RH.

1.1 Accounting convention

The accounts have been prepared in accordance with the Trust's governing document, 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)” (as amended for accounting periods commencing from 1 January 2016). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 Trust 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.

1.4 Incoming resources

Income is recognised when the Trust 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.

Legacies are recognised on receipt or otherwise if the Trust 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.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note 5 below.

Support costs are those that assist the work of the Trust but do not represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Trust. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with the use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Land and buildings Nil Fixtures, fittings & equipment

Freehold land is not depreciated. No depreciation is provided on freehold buildings as in the opinion of the Trustees the useful economic life and residual value are such that any depreciation charge would be insignificant.

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 net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value determined with reference to the quoted market price at each reporting date. Transaction costs are expensed as incurred.

Changes in fair value are recognised in net income/(expenditure) for the year.

1.8 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.

1.9 Financial instruments

Financial instruments are recognised in the Trust's balance sheet when the Trust 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.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

2 Charitable activities

Rents and service charges receivable from residents
Discretionary grants - see below
Guest suite income
Parking permit receipts		 2022
£
115,490
(17,325)
98,165
2,680
1,040
101,885		 2021
£
111,875
(14,371)
97,504
1,390
1,048
99,942

Discretionary grants to residents

In order to bridge the gap between the Housing Benefit received by some residents and the costs of the rents and service charges, the Trust made discretionary grants to residents in 2021.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

3 Investments

Income from listed investments
Interest receivable		 2022
£
11,875
17
11,892		 2021
£
7,963
2
7,965

4 Other income

Compensation received from Nat West Bank
Miscellaneous receipts		 Total
Unrestricted
funds
2022
2021
£
£
-
1,500
-
10
-
1,510		 Total
Unrestricted
funds
2022
2021
£
£
-
1,500
-
10
-
1,510
1,510

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

5
Charitable activities
Provision of homes for missionaries, clergy and other Christian
workers
Depreciation and impairment
Rates
Light and heat
Insurance
Cleaning
Gardening
Repairs and maintenance
Sundry expenses
Subcontractor
Printing, postage and stationery
Support costs (see note 6)
Governance costs (see note 6)
Analysis by fund
Unrestricted funds
For the year ended 31 October 2021
Unrestricted funds		 2022
£
1,176
2,704
11,127
4,123
4,081
5,341
24,636
900
11,226
-
65,314
3,887
2,208
71,409
71,409
71,409		 2021
£
210
4,754
8,082
1,441
4,253
5,718
27,385
922
9,494
8
62,267
3,641
3,762
69,670
69,670
69,670

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

6 Support costs

Support
costs
Governance
costs
£
£
Property management
fees
3,382
-
Telephone
275
-
Website costs
160
-
Travelling
70
-
Legal and professional
-
204
Independent Examiner's
fees
-
2,004
Trustees' expenses
-
-
3,887
2,208
Analysed between
Charitable activities
3,887
2,208		 2022
Support
costs
Governance
costs
£
£
£
3,382
3,312
-
275
269
-
160
60
-
70
-
-
204
-
1,652
2,004
-
1,800
-
-
310
6,095
3,641
3,762
6,095
3,641
3,762		 2021
£
3,312
269
60
-
1,652
1,800
310
7,403
7,403

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

During the year trustees' expenses of £Nil were reimbursed by the Trust (2021: £310).

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2022 2021
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

9 Other

Total Unrestricted
funds
£
2022 2021
Net gain on disposal of tangible fixed assets - (145)

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

10 Net gains/(losses) on investments

Revaluation of investments
Gain/(loss) on sale of investments
11
Tangible fixed assets
Cost
At 1 November 2021
Additions
At 31 October 2022
Depreciation and impairment
At 1 November 2021
Depreciation charged in the year
At 31 October 2022
Carrying amount
At 31 October 2022
At 31 October 2021		 Land and
buildings
£
2,493,380
-
2,493,380
-
-
-
2,493,380
2,493,380		 2022
£
(26,263)
(5,510)
(31,773)
Fixtures,
fittings &
equipment
£
3,289
15,825
19,114
210
1,176
1,386
17,728
3,079		 2021
£
17,360
-
17,360
Total
£
2,496,669
15,825
2,512,494
210
1,176
1,386
2,511,108
2,496,459

At 31 October 2022 the Trustees undertook a valuation of the freehold property, based on current market values for similar properties. In the opinion of the Trustees the market value of the freehold property is at least equal to its cost of £2,493,380.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

12 Fixed asset investments

Cost or valuation
At 31 October 2022
Additions
Valuation changes
Disposals
At 31 October 2022
Carrying amount
At 31 October 2022
At 31 October 2021
13
Financial instruments
Carrying amount of financial assets
Trade and other debtors measured at undiscounted amount receivable
Investments measured at fair value
Carrying amount of financial liabilities
Trade and other creditors measured at undiscounted amount payable
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Listed
investments
£
259,404
157,009
(26,263)
(162,519)
227,631
227,631
259,404
2022
2021
£
£
31,201
15,951
227,631
259,404
6,345
7,462
2022
2021
£
£
5,016
1,445
26,185
14,506
3,263
2,216
34,464
18,167

Other debtors comprise bank balances held in trust on behalf of the residents by Belmont Management Services (South West) Limited trading as "Belmont Property Management", who manage the properties for the Trust.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

15
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
16
Revaluation reserve
At 1 November 2021
Unrealised losses on investments
Other movements
At 31 October 2022		 2022
2021
£
£
6,345
7,462
12,360
7,280
18,705
14,742
£
52,602
(26,263)
(8,322)
18,017

The revaluation reserve above represents the cumulative unrealised gains on the listed investments.

17 Related party transactions

There were no disclosable related party transactions during the year (2021: none).

THE FAIRFIELD TRUST MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2022 16-

THE FAIRFIELD TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

Income from:
Charitable activities
Rents and service charges receivable from
residents
Guest suite income
Parking fund
Discretionary grants to residents
Investment income
Dividends from listed investments
Bank interest received from Belmont
Other income
UF Other income
Total income
Resources expended:
Charitable activities
Provision of homes for retired clergy and other
Christian workers
Depreciation
Rates
Light and heat
Insurance
Cleaning
Gardening
Repairs and maintenance
Sundry expenses
Subcontractor
Printing, Postage and Stationery
Support costs - see below
Governance costs - see below
Gain on disposal of tangible fixed assets
Net incoming resources		 £
1,176
2,704
11,127
4,123
4,081
5,341
24,636
900
11,226
-
3,887
2,208
-		 2022
£
115,490
2,680
1,040
(17,325)
101,885
11,875
17
-
113,777
(71,409)
42,368		 £
210
4,754
8,082
1,441
4,253
5,718
27,385
922
9,494
8
3,641
3,762
(145)		 2021
£
111,875
1,390
1,048
(14,371)
99,942
7,963
2
1,510
109,417
(69,670)
39,892

THE FAIRFIELD TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

Net gains on investments
Revaluation of investments
(26,263)
Gain or loss on sale of investments
(5,510)
(31,773)
Net movement in funds
10,595		 17,360
-		 17,360
57,252

THE FAIRFIELD TRUST

SUPPORT AND GOVERNANCE COSTS FOR THE YEAR ENDED 31 OCTOBER 2022

Support costs
Property management fees
Telephone
Website costs
Travelling
Governance costs
Legal and professional
Independent Examiner's fees
Trustees' expenses		 £
204
2,004
-		 2022
£
3,382
275
160
70
3,887
2,208
6,095		 £
1,652
1,800
310		 2021
£
3,312
269
60
-
3,641
3,762
7,403