WILLIAMS SYNDROME FOUNDATION Charity number 281014 Company number 1523794 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMMUNITY Community Accounts Service
WILLIAMS SYNDROME FOUNDATION CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Legal and Administrative Information Trustees Annual report Independent Examination report Statement of Financial Activities Balance Sheet 10 Notes forming part of the financial statements 11-17
WILLIAMS SYNDROME FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Registered company number 1523794 Registered charity number 281014 (ENG & WALES)., SC049897 (SCOTLAND) Patrons Mr Peter Davidson, Ms Elizabeth Morton & Mr Tim Cooper Trustees and Dlrectors M J Burrows P R Lawrie (Chairman) J R Folliss (Treasurer> M J Adlam {resigned 617123) L Fisk NDTMartin P Taylor S J Spencer B Vasey M J Wolfman D R Robinson (appointed 10111241 Secretary E H Martin Chief Executive E H Martin Registered Office North House 198 High Street Tonbridge Kent TN9 1BE Professional Advisory Panel Dr N Martin MD Bsc MRCP Professor J Atkinson PhD Dr J Davies Bsc BDS MFDSRCS (Eng) Professor P Howlin Msc PhD Cpsychol FBPSS Dr R Johnson BM MRCP Dr K Mel¢alfe MBBCh FRCP MD Dr R Padidela MRCPCH MD DNB Professor D Riby PhD Dr E Sidebotham MBChB (Hons} FRCS MD Dr J Van Herwegen Phd
WILLIAMS SYNDROME FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Professional Advisory Panel Ms A Hart Bsc Msc (OT) Mrs O Sutton Ms M Ambrosio Bsc MASLTIP MRCSLT HCPC Professor E Farran PhD Dr F Tynan Mr D Robinson BA FCCA APFS TEP LLAA IMC CFP MSCI Mr B Leach RNMH MNurs Mr C Pemberton TEP Ms Heledd Wyn Solicitor Ms K Mjadzelics Ms J Whale P R Lawrie Mr M J Adlam MBA Mrs E H Martin Bsc Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Independent Examiner Community360 Winsley's House High Street Col¢hester Essex C01 1UG Investment Commlttee P R Lawrie J R Folliss E H Martin M J Adlam {resigned 6t1123) D R Robinson (appointed 1011124) Investment Advisors Brewin Dolphin 12 Smithfield London EC1A9LA
WILLIAMS SYNDROME FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also Directors ofthe Charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ended 31 March 2024. The Trustees confirm that the report and financial statements of the Charrty comply with the current statutory requirements, the requirements of the company's governing document, and the provisions of "Accounting and Reporting by Charrties.. 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 IFRS 102)" {effective 1 January 20191 (Charities SORP IFRS 102}1. Legal and administrative information set out pages 1-2 forms part of this report. Charity status Williarns Syndrome Foundation is a Charitable Company limited by guarantee. It was incorporaled on 22 October 1980 and is governed by Articles of Association as adopted on 27 July 2023. Governance and internal control The Charity is organised so that the Trustees meet regularly to manage it5 affairs. The Chi6f Executive manages the affairs of the Chariiy on a day-to-day basis with additional assistance as required. The Board as a whole appoints new Trustees, and one-third of the Trustees retire and are eligible for re-appointment, each year. New Trustees are normally parents or relatives of individuals with Williams Syndrome, or have a professional skill required by the Charity. The Trustees are inducted by briefings from the Chief Execulive and the Chairman and relevantly skilled Trusteelsl. Objectives and activities The objectives of the Charity are the provision of support, information and advice on all aspects of Williams Syndrome,. supporting and generating research with practical applications that will further increase understanding of Williams Syndrome., lo raise awareness of the condition lo improve medical, social and educational support and care - for the direct benefit of those who have, or those who support and care for someone with Williams Syndrome- within the UK and elsewhere. The Aims of the Charity are that.. 1. AII WS Individuals and carers in the UK have access to the support they need to help address the challenges of the condition. 2. The WSF provides forums in which members and their families can access knowledge, share experience and have fun confidently and safely. 3. The impact of WS on affected individuals, their families and communities is understood as fully as medical and social science enable il to be.
WILLIAMS SYNDROME FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 4. There is broad awareness of WS in UK society. 5. The WSF is a commercially sustainable organisation, with pro$Se$ that are robust, efficient, auditable and compliant with relevant legal and ethical requirements. 6. The WSF is run by dedicated Trustees and employs motivated staff with Ihe necessary skills to perform their duties lo best effect. Public benefit The Trustees have considered the Charity Commission's guidance on public benefit. Williams Syndrome is a rare disorder, first identified in 1961. The charity's educational and research activilies are considered to be for the benefit of all who have been diagnosed with the condition and those that love, care for and educate them, and thus for public benefit. Review of the year WSF staff continue to work with WS individuals of all ages, from infants to those of relative old age, parents. carers, police, hospltals and GP surgeries, multidisciplinary practitioners, educational establishments, housing associations, and supported accommodation providers to support ws people in all areas of their lives. There have been two changes to the Board this year as Mike Adlam stepped down as a trustee after thirty years service. Dave Robinson has joined the board as trustee. Eliza Sharron, a barrister 5pecialising in the law relating to children and adults with addrtional needs, has joined our Professional Advisory Panel. The Foundation's ever growing social media presence together with the UK WS Awareness month all continue to encourage member approaches and help direct concerned members of the public and professionals to a source of accurate information. We have welcomed XX new members this year The Foundation Gontinues to provide resources, a face-lo-face Pfogramme of local social and information events, subsidised holidays for its WS adult members and a triennial family gathering and convention. We have provided.. 2 Talk to Me 36-page member magazines 12 monthly e-newsletters 14 online family support groups 4 webinars 94 We Support Friendships Zoom Sessions wtth adults with WS. 13 adults with WS with a week's holiday 21 parents with a week's respite break. • 10 young adults with WS (alongside a parent carer} with a four-day activity break a regional roadshow with presentations on Financial Planning, Capacity, Genetics and • General Sur9ery. 8 regional events plus 10 Christmas parties a leaflet on Supporting Adolescents and Adults with Williams Syndrome Take Steps Towards Independence a leaflet for children explaining WS
WILLIAMS SYNDROME FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 • Volunteer Handbooks for trustees, regional coordinators and Professional Advisory Members. Email and phone support, answering 2297 queries. We have shared our five-year strategy for the WSF with our membership and the wider WS community. We have booked our 2025 National Convention and Family Gathering. We have attended the national Positive CholS Convention for student learning disability nurses, presenting on Williams Syndrome. We have also advocated for our community with the Department of Health and Social Care in relation to the Down Syndrome Act guidelines development. We are an active member of the Genetic Alliance community. inputting into discussions regarding policy which affects the wider rare conditions and learning- disabled communities. On-going reporting on the Foundation's activities, events and achievements is shared on our website and social media channels. Ongoing research covers.. WS Sleep Patterns- Kate Gwilliam and Professor Jo Van Herwegen., RASE WS (Raising Awareness about WSI- Professor Jo Van Herwegen and Professor Janette Atkinson,.; Cracking the Pitch Code Professorvesna Stojanovik., Embodied Altention and Learning in young children with WS- Professor Hana D'souza., Mathematical Interventions for Individuals with Williams Syndrome- Professor Jo Van Hetwegen and The Importance of Motor Domain on Development in Children with Williams Syndrome- Professor Emily Farran. Flnancial position The Statement of Financial Activities shows a net increase in resources for the year of £88,626 (2023.. decrease of £138,765) after taking into account the gain in the value of the charity's investments during the year as a result of the market performan, which was £25,153. Unrestricted reserves stand at £456,253 at the year end. Before taking into account the increase in the value of investmenls, income exeded expenditure by £63,47312023'. expenditure exceeded income by £106,731 due to the triennial weekend national convention). A substantial part of the income generated during the financial year has, as ever, been from our loyal band of fundraisers to whom we are very grateful. We were awarded Charity of the Year by Talbol Underwriters {part of the AIG Group) which included a generous donation of £20.000, plus potential further fundraising from their staff during 2024. Many grant making bodies remain closed to us whilst they support charities less financially secure following the covid 19 pandemic, but we continue to look for funding opportunities. Reserves policy The Charity aims to maintain reserves sufficienl to cover a minirnum of one year's expenses, and to try to raise enough income to cover current yeals expenses. The Trustees believe Ihat
WILLIAMS SYNDROME FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 this is in the best interests of the Charity. Most of the employees of WSF have either children or siblings with Williams Syndrome and it is considered vital to ensure that there are sufficient reserves to guarantee continuity of their employment. It is also vital to ensure the key activities and ongoing support can be assured for WS Families. The charity's unrestricted reserves as of 31 March 2024 are £456,253. Of this amount £376,724 is represented by fixed asset investments which are invested to raise fund5 for the Charities ongoing benefit, these rAn be converted to cash wtthin 3 months. This, along with free reserves of £78.596 is adequate to support the planned Medical Research, Regional Activities and the day-lo-day expenses of the Charity for the next Financial Year. The next triennial convention is planned for JLtIy 2025 with an expected cost of £130,000. The Trustees consider that the financial position of the Charily is stable and satisfactory. Investment policy and objectives The charity operates a low-risk attitude towards investment whilst looking for reasonable returns in a challenging economic climate. Statement of directors, and trustees. responsibilities The Directors are responsible for preparing financial statements in accordance with applicable law and regulations. Company law requires the Diredors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Directors are responsible for keeping adequate accounting records sufficient to show and explain the company's transactions and that disclose with reasonable accuracy at any time the financial position of the company and e nable them to ensure that the financial statements Gomply with the Companies Act 2006, They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
WILLIAMS SYNDROME FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2006. Approved by the Trustees and signed on its behalf by: L) P R Lawrie Chairman of the Trustèe Board Date..
WILLIAMS SYNDROME FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts of Williams Syndrome Foundation for the year ended 31 March 2024 which are set out on pages 9 to 17. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to= Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and To state whether particular matters have come to my attention. Basis of independent examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees Conrning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fail view which is not a matter considered as part of an independent examination. I 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. David Courtier FM Community360 Winsley's House, High Streel, Colchester, Essex TQB for and on behalf of: Date 2 5/oX /201
WILLIAMS SYNDROME FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted R6stricted Fund Fund 2024 Total 2023 Total Note Incoming resources Donations Charitable activites Other trading activities Investments 189,069 12,427 6,974 11,413 219,883 189,069 12,427 6,974 11,413 219,883 122,351 43,576 10,302 11,903 188,132 Total incoming resourGes Resources expended Raising funds Charitable activites 18,850 137.560 156,410 18,850 137,560 156,410 18,999 275,864 294,863 Total resources expended Net incominglloutgoingl resources before transfers Net gainslllossesl on investments 63,473 63,473 1106,731 12 25,153 25,153 132,034) Net movom8nt in funds 88,626 88,626 (138,7651 Total funds brought forward 367,627 367,627 506,392 Total funds carried forward 456.2S3 456,253 367,627 Tho noles on pages 11 to 17 form part of these accounts.
WILLIAMS SYNDROME FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 2024 2024 2023 2023 Notes Fixed assets Tangible assets Investments Total fixed assets 11 12 933 376,724 377,657 994 345,640 346,634 Current assets Debtors Cash at bank and in hand 13 4,464 90,180 94,644 3,910 43,972 47,882 Croditors: amounts falling due after more than one year 14 116,048) (26,889} Net current assets 78,596 20.993 Total net assets 456,253 367,627 Th8 funds of the charity Unrestricted funds 16 456,253 456,253 367,627 367,627 Total funds For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The director's acknowledge their responsibility for complying with the requirements of the A¢t with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies regime. The directors declare that they have approved the accounts above. Signed Date .ID}Ilf 10
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting policies Legal status Williams Syndrome Foundation is a charitable company limited by guarantee incorporated in England and Wales. The address of the registered office is North House, 198 High Street, Tonbridge Kent, TN9 1BE. Bagls of the preparatlon of the accounts The financial statements have been prepared in accordance wilh Accounting and Reporting by Charities.. Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1 January 2019)- (Charities SORP {FRS 1021}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements" Incoming resources Income from donations is recognised when the charity is entitled to the funds, the reIpt is probable and the amount can be measured reliably. For donations this is usually on receipt. Income from regional conferences is recognised in the period the conference is held. Holiday income is recognised in the period in which the holiday is due to take place. Subscription income is recognised over the period to which it relates. Income received in advance is Ireated as deferred income. Income from other trading activities is recognised when receivable on the basis of when the fundraising activities take place. Income from investrnents is recognised when re1Vable. Resources expended Expenditure is recognised when a pre5enl legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be measured or estimaled reliably. Expenditure is shown inclusive of VAT. Expenditure. which is charged on an accruals basis. is allocated between: Expenditure on raising funds which includes costs associated with attracting donations, Ihe cost of purchases for resale and investment management fees. Expenditure on charitable aclivities which includes expenditure on the provision of subsidiwj holidays, medical and research fees and educational activities.
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The charity makes research grants on the recommendation of its Professional Advisory Panel. These grants are considered performance related and so are recognised only to the extent that the project has been Gompleted. Where material, grants authorised but not yet paid because they are dependent on future research projects being undertaken, are shown as financial commitments. All costs are allocated between expenditure activities on a basis designed to reflect the use of the resource. Costs relaling to a particular activity are allocated directly. Support Gosts include the central functions and have been allocated to activities on a basis of time spent on those activities. Governance costs include those costs incurred by the Charity in meeting 115 constitutional and statutory requirements. Fixed Assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the Cost of fixed asse15, less their estimated realisable value, over their expected useful lives, as follows.. offi equipment 330/9 on cost During the year the trustees agreed to change Ihe depreciation rate from 250k to 330k on cost as this better reflects the assets useful economic life. As this is a change in estimate this change has been made prospectively. Investments Investments are recognised initially at cost, and then subsequently at ther fair value al the balance sheet date, using the quoted market price. Changes in fair value are included in the statement of financial activities under riet gainslllosses) on investments. Financial Instruments The charity only has financial instruments of a kind that qualify as basic financial instruments. Short-term debtors and creditors are measured at settlement value. Any losses from impairment are recognised in income and expenditure. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of Ihe general objectives of the charity. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets the criteria is allocated to the fund. 2. Income from donations 2024 2023 Donations Gift Aid 174,817 14,252 189,069 106,874 15.477 122.351 12
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3. Income from Charitable activities Totsl 2024 Total 2023 Convention contributions Holiday income Subscription income 28,700 5,150 9,726 43,576 2,400 10,027 12,427 4. Income from other trading activites Total 2024 Total 2023 Income from sales of Ghristmas Gardslpublications 6,974 6.974 10,302 10.302 5. Income from inveslments Total 2024 Total 2023 Listed investments Bank deposit 10,386 1,027 11,413 11,671 232 11.903 6. Expenditure on raising funds Total 2024 Total 2023 Cost of sales of christmas cardslpublications Investment portfolio management fees Staff costs Allocated support costs (note 91 3,982 4.136 7,630 3,102 18,850 5,440 3,444 6,826 3,289 18,999 7. Resources expended 2024 2024 2024 2024 Direct Costs Staff Costs Support Costs Total 2023 Total Holiday costs Medical and research fees Publications and conference Conference Members events & family support Admin support 35,170 11,803 2,198 1,642 1,291 9,439 1,607 19,477 292 350 2,856 2,481 8,153 24,350 38,482 37,104 13,444 14,493 4,088 44,081 24,350 137,560 35,948 9,461 147,094 9,262 52,492 21,607 275.864 16,451 65.622 33,456 Expenditure on charitable activities in the comparalive period included restricted expenditure of £2,750 13
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 8. Support costs Total 2024 Total 2023 Staff Costs Insurance Rent Bank charges Printing, postage and stationery Fees and subscriptions Payroll fees offi expenses Travel expenses Depreciation of office equipment Governance costs: Trustees, expenses Examiners, remuneration 24,350 1,469 552 710 3,516 651 912 5,802 1,703 560 21,607 1,467 1,329 809 3,239 1,002 834 6,988 868 560 860 500 41.585 866 2,482 42,051 Allocated as follows: Expendilure on raising funds Expenditure on charitable activiles 3,102 38,482 41,58S 3,289 38,762 42,051 9. Staff costs Total 2024 Total 2023 Staff costs during the year were as follows.. Wages and salaries Pension costs 61,028 4,408 65,436 62,179 1,855 64,034 The average number of paid employees during the year was 5 {2023'. 51. No member of staff earned over £60,000 for the financial year (2023.. Nil). Key management personnel are considered to be the trustees and the Chief Executive. Total remuneration of key managemeni personnel, including employers, national insurance and pension contributions, was £29.78412023'. £27,453}. 14
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Net income Total 2024 Total 2023 This is stated after Gharging: Depreciation Independent examiners, remuneration Independent examiners, remuneration - for other services 560 500 560 2,482 834 3,876 1,060 11. Tangible Fixed assets Office Equipment Cost At 1 April 2023 Additions Disposals At 31 March 2024 1,679 499 2,178 Depreciation At l April 2023 Charge for the year Disposals Al 31 March 2024 685 560 1,245 Net book value at 31 March 2024 933 Net book value at 31 March 2023 994 12. Fixed assets investments Total 2024 Total 2023 Investments.. Market value at 1 April 2023 Additions at cost Disposals at carrying value Unrealised gainsl{losses) Markel value at 31 March 2024 Cash held for investment purposes 339,463 397,101 82,333 108,482 {74,662} (142,205) 25,594 23,915 372,728 339.463 3,996 6,177 376,724 345,640 Listed investments are slated at their mid market value as at the balan sheet date. Includ&d within disposals are realised losses of £411. 15
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Debtors Totsl 2024 Total 2023 Other debtors and prepayments 4,464 4,464 3,910 3,910 14. Creditors: amounts falling due within one year Total 2024 Total 2023 Taxation and social security Accruals Deferred income 677 6,259 9,112 16,048 542 16,257 10,090 26,889 Deferred income: Income deferred from the previous year Released to the statement of financial activiles Arising during the current year On holidays on subscription income 10,090 35.898 (10,090) 135,8981 2.100 7.012 9,112 2,400 7,690 10,090 Deferred income relates to amounts received in advance for the holiday due to take pla in Summer 2024 and also subscription income received in advance. 15. Contingent Llability The charity is committed to further Medical Research grants totalling £- (2023.. £1,910}. These are not recognised as liabilities as they are subject to performance related conditions which at the balan sheet date had not been fulfilled. 16. Funds Expenditure and gainsl Carried llossesl Transfers forward Brought forward Income Unrestricted funds Restricled funds 367,627 219.883 1131,257) 456,253 367,627 219,883 131,257 456,253 No restricted funds were reclevd or spent during the year 16
WILLIAMS SYNDROME FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Prlor year Expenditure and gainsl {losses) Transfers Brought foNiard Income Carried forward Unrestricted funds Restricted funds 506,392 185.382 2,750 188,132 324,147 2,750 326.897 367,627 506.392 367,627 During the year, one restricted grant was received. £2,750 was received fromThe Wood Foundation to support families from North Eastern Scotland. The grant has been fully expensed in the year. 18. Analysis of net assets between funds Total Restrlctod Unrestricted funds funds ftjnds 2024 Total funds 2023 Fixed assets Net current assets 377,657 78,596 456,253 377,657 78,596 456,253 346.634 20,993 367,627 17