## The Inner Circle Educational Trust
## REPORT AND FINANCIAL STATEMENTS
31 July 2023
Charity No. 291583
Company Registration No. 01791760
The Inner Circle Educational Trust
## **Contents**
|Legal and Administrative Information|1|
|---|---|
|Trustees’ Report|2-5|
|Independent Examiner’s Report|6|
|Principal Accounting Policies|7-8|
## The Inner Circle Educational Trust
## LEGAL AND ADMINISTRATIVE INFORMATION
## _**Trusteees**_
Dr Diana Walford CBE – Chair Kenneth Batty – Deputy Chair David Barnes – (until 29 September 2022) Carol Burns Rachel Clarke Elizabeth Jenkins –(until 19 April 2023) Vimmi Singh Amy Mook - (from 13 October 2023) _**Registered Office and Principal Address**_ First Floor 85 Great Portland Street London W1W 7LT
_**Independent Examiner**_ Howard Lane Pro-Filing Ltd 68 Canterbury Grove London SE27 0PA
_**Bankers**_ Barclays Bank plc Level 28 1 Churchill Place Canary Wharf London E14 5HP
_**Insurance Brokers**_ Marsh Limited International House Southampton International Business Park George Curl Way Southampton SO18 2RZ
## _**Investment Platform**_
Flagstone Group Ltd 1st Floor, Clareville House 26-27 Oxendon Street London SW1Y 4EL
_Page 1_
## The Inner Circle Educational Trust
## TRUSTEES’ REPORT
The Trustees of The Inner Circle Educational Trust (“the Charity”) present their Trustees’ Report and financial statements for the year ended 31 July 2023.
The Charity was founded in 1984 and is a company limited by guarantee, not having a share capital (company number 1791760). The Charity is registered at the Charity Commission under Charity number 291583. It is governed by its Articles of Association.
_The financial statements have been prepared in line with the Charities SORP (FRS 102) (Second Edition, FRS 102) and the Companies Act 2011_
## **Objectives, activities and future plans**
## **Charitable Objects**
Following the transfer of its university business to Galileo Global Education UK Ltd (GGE) in September 2020 the Charity changed its name from Regents University London to the Inner Circle Educational Trust.(ICET) and revised its charitable objects. The Objects of the Charity are:
## **The advancement of education for the public benefit.**
## **Resourcing**
As a part of the Transfer Agreement, with GGE, the Charity retained £1.0 million of unrestricted funds. It was subsequently gifted £0.4 million by GGE as restricted funds to be used solely for the benefit of students studying at Regent’s University London. A further provision in the Transfer Agreement was made for £200K to be paid by GGE annually and in perpetuity from July 2025, as restricted donation, subject to the proviso that Regent’s University London Ltd had made a defined level of profit in the preceding 12 months. However, it had not proved possible to disburse the greater part of the restricted funds to students in genuine need at Regent’s and that problem was thought likely to be exacerbated in the event that further gifts of £200K were made annually into the restricted fund. Therefore as specifically permitted by the Transfer Agreement and a subsequent Variation to it made in January 2021, it was determined that any funds not already disbursed from the £400K restricted funds (which amounted to £303K) could be made unrestricted and that GGE would transfer to ICET a further £200K by Deed of Gift as an unrestricted gift in return for voiding the obligation on the University in relation to the conditional £200K annual transfer. Overall, the unrestricted fund benefitted from these arrangements by a total of £503K to be used to advance ICET’s charitable objects. As a result of these changes, no restricted reserves remained as at 31 July 2023 and total unrestricted funds stood at £1.444k. The Charity Commission was informed of these matters on 21 July 2023 and was satisfied that the various Agreements had made provision for such change of use of the gifts.
The Charity did not fund-raise from members of the public in the current or previous accounting period.
## **Results for the Period**
The financial activities for the year show an income of £208k (2022: £nil) and expenditure in relation to student support payments of £7k (2022: £43k) and other costs of £8k (2022: £nil).
At the year end, the charity held cash of £1,445k (2022: £1,255k), £55k being in in short to medium-term deposits (2022: £nil). Other current liabilities of (£1k ) (2022: £5k).
_Page 2_
## The Inner Circle Educational Trust
## TRUSTEES’ REPORT
The financial activities for the year show there were very few transactions in the whole of the year as an invoice expected from Camden for the Head Start into Higher Education Project was not submitted until after the end of the financial year. The main financial event was the receipt of the gift of £200K from GGE referred to above. A start (£55K) was made on implementing the capital investment strategy, described below, using Flagstone, the investment platform for charities.
## **Activities and plans**
Two activities have dominated the work of the Charity during the financial year. The first was to determine the Charity’s strategic direction for the next decade and beyond. The focus of the strategy is to improve the educational prospects of care leavers and young people with care experience who, as a group, significantly underperform their peers. Following a tendering process, a project (‘Head Start into Higher Education) is being run in partnership with Camden London Borough Council and Camden Virtual School and will provide wrap-around support for two cohorts of 15 young people to help them on their journey into higher education and employment. A critical component of the programme is the deployment of an Education Navigator who provides consistency of support to the young people and works with Camden’s education consultants to develop bespoke types of support to enhance each student’s learning opportunities. Educational opportunities may include pre-university support and guidance, at-university bursary funding and mentoring, paid internship placements, an annual residency for the identified cohorts, assistance with gaining careers advice and wit h seeking and securing a suitable job, Support will continue as needed during the early post-employment period. The project began on 1 September 2023 and will run for seven years.
The second major activity of the Charity was to tender for an academic or research institution to perform an independent research evaluation of the Head Start into Higher Education Project throughout its period of operation. The competitive tender was awarded to the University of Birmingham, working in collaboration with the National Network for the Education of Care Leavers (NNECL) and the University of Cambridge. Work began on the evaluation on 1 September 2023.
## **Reserves and Strategic Risks**
It is the aim of the Trustees to manage the financial resources of the Charity to permit it to operate as a going concern. The Trustees of the Charity recognise that they have a responsibility to manage the risks to which the activities of the Charity could be exposed. They actively review the major risks which the Charity faces on a regular basis and believe that the maintenance of reserves; a low-risk investment strategy; the annual review of risk and the controls over key financial systems will provide sufficient resources in respect of the Charity’s current activities. An analysis of cashflow forecast over the life of the Head-Start Project and its evaluation shows a healthy level of reserves £560k at September 2030 when the project terminates. As at July 31 2023, the unrestricted reserves stood at £1,444k (at 31 July 2022: £303k restricted and £947k unrestricted), of which £1,444k was freely available.
## **Investment and Reserves Policies**
As anticipated in last year’s Annual Report, the Trustees have developed a suitable investment strategy and a reserves policy. In total, the Charity has received £1.6m and does not have plans to raise additional funding, other than to grow its funds through a suitable investment
_Page 3_
## The Inner Circle Educational Trust
## TRUSTEES’ REPORT
policy, whilst safeguarding its capital.
It will disburse these funds, in line with its charitable objects, to provide intensive support for care-experienced children in the London Borough of Camden (and, potentially, in other local authorities) with the aim of getting them into university and, afterwards, into graduate-level employment. The Charity is also funding research into the effectiveness of this approach.
In line with the strategy, ICET will be disbursing funds for at least seven years . Consequently the Charity will have significant but declining reserves. In drawing up budgets, and agreeing to spending, the Trustees will be mindful of the need to ensure that each cohort of young people supported in the project has enough funding to complete the entire plan.
## **Grant-making Policy**
The services of the Camden Virtual School have been secured via a seven-year Grant Agreement with the London Borough of Camden, as were those of Birmingham University (which has subcontracted aspects of the research evaluation to NNECL and Cambridge University. Both Grant Agreements will run in parallel. ICET has no current plans to make grants to other bodies, but would be prepared to do so if needed in furtherance of its charitable objects.
## **Risk Management**
The Board of Trustees is ultimately responsible for the system of risk management and for determining the nature and extent of the significant risks it is willing to take in achieving its strategic objectives. The role of the Board of Trustees is to provide strategic oversight of the Charity within a framework of prudent and effective controls which enables risk to be assessed and managed.
A risk management policy, and processes and mechanisms for identifying, assessing, monitoring and managing risk has been defined. The Board has defined its strategic risks, which are set out below, and each risk has been recorded on the strategic risk register and given a rating according to the likelihood and impact of the risk occurring. The risks are regularly reviewed and actively managed according to their severity.
## **Principal risks and uncertainties**
Following the transfer of the university business, the principal risks are:
1. Non-compliance with charitable objectives, laws, fiduciary duties, applicable regulations
2. Fraud
3. Failure of contractual partners (Camden/CVS and/or Birmingham University) to deliver the contractual outcomes
4. Poor execution of disbursement and monitoring of charitable funds
5. Poor choice of target populations for funding
6. Risk of arbitrary closure of the bank account by the bank, as has happened to other charities.
## **Structure, governance and management**
Following the transfer of the university business, the Charity has no staff, and all decisions are taken by the Trustees. The Charity contracts with a qualified book keeper
_Page 4_
## The Inner Circle Educational Trust
## TRUSTEES’ REPORT
to maintain the financial ledgers.
During the course of the year, the Charity prepared new Articles of Association and these have been lodged with the Charity Commission and Companies House.
## Recruitment of Trustees
The members of the Board of Trustees are elected by a simple majority of the Trustees themselves. There are also provisions in the Articles of Association for the removal of Trustees. The Trustees hold office until the end of the next meeting of the Board following the third anniversary of their appointment and, if they so wish, may offer themselves for re-election for a further three-year term. No Trustee shall serve for more than three, three-year terms.
New Trustees are recruited using an open process in which trustees agree the skills and experience that are required to enhance the range of the Board and then the opportunity is promoted widely via social media and advertising. A recruitment exercise for trustees was started during the year and a new Trustee, Amy Mook was appointed starting on 13 October 2023.
## **Statement of Trustees’ Responsibilities**
_The Trustees (who are also directors of The Inner Circle Educational Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulation._ Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime.
_Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and with the Charities Act 2011 (United Kingdom Generally Accepted Accounting Practice). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing these financial statements, the Trustees are required to:_
- _select suitable accounting policies and then apply them consistently;_
- _observe the methods and principles in the Charities Statement of Recommended Practice;_
- _make judgments and estimates that are reasonable and prudent;_
- _state whether applicable UK Accounting Standards, comprising FRS 102, 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 charitable company will continue in business._
_Page 5_
## The Inner Circle Educational Trust
## TRUSTEES’ REPORT
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and 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 Companies Act 2006. 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.
There were no new related party transactions during the year. The relationship with 4D Designs described in last year’s Annual Report remained in operation.
The Trustees are responsible for the maintenance and integrity of the Charity’s website.
## **Public Benefit**
The Trustees have had due regard to the Charity Commission guidance on public benefit. Apart from the benefit to the individuals in the cohorts supported by the Head Start Project, the Evaluation of the project has been structured in such a way that any lessons learned from the implementation of the project will be made public as will any innovations developed as part of the statistical analysis of the data arising from the project.
This report was approved by the Board of Trustees on 16 April 2024 and signed on their behalf by:
Dr Diana Walford Chair of Trustees
_Page 6_
## Independent examiner’s report to the Trustees of The Inner Circle Educational Trust
____________________________________________________________________
_Page 7_
## Independent examiner’s report to the Trustees of The Inner Circle Educational Trust
____________________________________________________________________
## _**Basis of preparation**_
The Inner Circle Educational Trust is a company limited by guarantee incorporated in the United Kingdom and registered in England & Wales under the Companies Act 2006.
The financial statements have been prepared in accordance with the 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) issued on 16 July 2014 and and with the Charities Act 2011.
At 31 July 2023, the Charity had no active subsidiary undertakings. In accordance with the requirements of FRS 102, the financial statements are for the Charity only and the comparative information is presented on the same basis.
As explained further in the Trustees’ Report, prior to 29 September 2020 the principal activity was the operation of Regent’s University London. On 29 September 2020, the operation of the University was transferred to a third party. In line with the requirements of the Charities SORP (FRS 102) the operations of the University in the prior year were shown as discontinued operations. The current year Statement of Financial Activities has not been split between continuing and discontinued operations on the grounds that all discontinued operations ceased in the prior year.
The Charity is a public benefit entity and therefore has applied the relevant public benefit requirements of the applicable accounting standards.
The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Charity’s accounting policies.
## **Going concern**
The financial statements have continued to be prepared on going concern basis following completion of the transfer of assets and undertakings of Regent’s University London. Following the transfer, the Charity received £1m of unrestricted funding and a restricted donation of £0.4m. The Charity will disburse funds to meet its charitable objects but retain a minimum level of reserves to meet financial obligations. Currently, the Charity has minimal financial liabilities. Therefore, the Trustees consider the preparation of these financial statements on a going concern basis to be appropriate and are satisfied that there are no material uncertainties in relation to the Charity’s ability to continue as a going concern.
## _**Donations**_
Donations are recognised in income when the Charity is entitled to the funds, receipt is probable, and the donation can be measured with reasonable accuracy.
## _**Expenditure and irrecoverable VAT**_
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
Grant awards made in relation to student support are recognised when there is a constructive obligation – i.e. the beneficiary has been notified of the award and has a reasonable expectation of receipt.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
_Page 8_
## Independent examiner’s report to the Trustees of The Inner Circle Educational Trust
____________________________________________________________________
## _**Taxation Status**_
The Inner Circle Educational Trust is a registered Charity within the meaning of Schedule 2 of the Charities Act 2011 and as such is a Charity within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, it is potentially exempt from taxation in respect of income or capital gains received within categories covered by parts two and three of part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes.
The Inner Circle Educational Trust receives no similar exemption in respect of value added tax (VAT) and VAT is not fully recoverable by the Charity.
## _**Judgements in applying accounting policies and key sources of estimation uncertainty**_
In preparing these financial statements, the Trustees consider that there are no significant judgements or areas which are subject to a high degree of estimation uncertainty.
_Page 9_
|**The Inner Circle Educational Trust**|**The Inner Circle Educational Trust**|Charity No|**291583**|**291583**||
|---|---|---|---|---|---|
|||
Company No|**1791760**|||
|
Annual accounts for theperiod||||||
|Period start date|01/08/22|**To**|Period end
date|31/07/23||
## **Section A Statement of financial activities (including summary income and expenditure account)**
## **Recommended categories by activity**
**Income (Note 3)**
## **Income and endowments from:**
Donations and legacies Charitable activities Other trading activities Investments Separate material item of income
Other _**Total**_ **Expenditure (Notes 6) Expenditure on:** Student support activities Research Support costs: Office costs Trustee Expenses Governance costs: Professional fees
_**Total**_
**Net income/(expenditure) before tax for the reporting period**
Tax payable
**Net income/(expenditure) after tax before investment gains/(losses)** Net gains/(losses) on investments **Net income/(expenditure) Extraordinary items Transfers between funds Other recognised gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use Other gains/(losses) _**Net movement in funds**_
## _**Reconciliation of funds:**_
Total funds brought forward _**Total funds carried forward**_
|Guidance Note
S01
S02
S03
S04
S05
S06
S07
S08
S09
S11
S11
S11
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
S22
S23
S24|**Total funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Prior year**
**funds**|**Total funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Prior year**
**funds**|**Total funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Prior year**
**funds**|**Total funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Prior year**
**funds**|**Total funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Prior year**
**funds**|
|---|---|---|---|---|---|
||200,000|-|-|200,000|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||8,471|-|-|8,471|-|
||208,471|-|-|208,471|-|
|||||||
||6,582|-|-|6,582|43,000|
||3,590|-|-|3,590|-|
||1,308|-|-|1,308|-|
||1,309|-|-|1,309|-|
||1,885|-|-|1,885|-|
||14,674|-|-|14,674|43,000|
|||||||
||193,797|-|-|193,797|- 43,000|
||-|-|-|-|-|
||193,797|-|-|193,797|- 43,000|
||-|-|-|-|-|
||193,797|-|-|193,797|- 43,000|
||-|-|-|-||
||-|-|-|-|-|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||193,797|-|-|193,797|- 43,000|
|||||||
||-|-|-|1,250,637|1,293,637|
||193,797|-|-|1,444,434|1,250,637|
**The Inner Circle Educational Trust** Charity No **291583** Company No **1791760**
|**Section B Balance**|**sheet**|**sheet**||||
|---|---|---|---|---|---|
|Guidance Note
**Fixed assets**
**Intangible assets (Note 15)**
B01
**Tangible assets (Note 14)**
B02
**Heritage assets (Note 16)**
B03
**Investments (Note 17)**
B04
**_Total fixed assets_**
B05
**Current assets**
**Stocks (Note 18)**
B06
**Debtors (Note 19)**
B07
**Investments (Note 17.4)**
B08
**Cash at bank and in hand (Note 24)**
B09
**_Total current assets_**
B10
B11
**_Net current assets/(liabilities)_**
B12
**_Total assets less current liabilities_**
B13
B14
**Provisions for liabilities**
B15
**_Total net assets or liabilities_**
B16
**Funds of the Charity**
**Endowment funds (Note 27)**
B17
B18
**Unrestricted funds**
B19
**Revaluation reserve**
B20
**Fair value reserve**
B21
**_Total funds_**
B22
**Creditors: amounts falling due**
**within one year (Note 20)**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Restricted income funds (Note 27)**|**£**
**£**
F01
F02
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**||**£**
**£**
F03
F04
**Endowment**
**funds**
**Total this**
**year**||**£**
F05
**Total last**
**year**|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||55,000|-|-|55,000|-|
||1,390,228|-|-|1,390,228|1,255,637|
||1,445,228|-|-|1,445,228|1,255,637|
|||||||
||794|-|-|794|5,000|
|||||||
||1,444,434|-|-|1,444,434|1,250,637|
|||||||
||1,444,434|-|**-**|1,444,434|1,250,637|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
||1,444,434|-|-|1,444,434|1,250,637|
|||||||
||-|||-
-
1,444,434
-|-|
|||-|-||303,000|
||1,444,434||||947,637|
|||||||
|||||||
||1,444,434|-|-|1,444,434|1,250,637|
_**The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.**_
_**The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.**_
_**The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.**_
_**These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.**_
|Signed by one or two trustees/directors on behalf of all the
trustees/directors|Print Name|Date of
approval
dd/mm/yyyy|
|---|---|---|
||Kenneth Batty|4/18/2024|
||Vice Chair of Board||
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Date Signature dd/mm/yyyy Signature of director authenticating accounts being sent to Companies House 4/18/2024
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## **Section C Notes to the accounts**
## Note 1 **Basis of preparation**
_**This section should be completed by all charities** ._
## **1.1 Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities • and with* ü preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 • and with* ü the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
- and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*
- -Tick as appropriate
## **1.2 Going concern**
_**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_
An explanation as to those factors that support the conclusion that the charity is a going concern;
Disclosure of any uncertainties that make the going concern assumption doubtful;
Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.
## **1.3 Change of accounting policy**
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
|note { }.||||
|---|---|---|---|
|Yes*
No*|ü||* -Tick as appropriate|
|||||
|**_Please disclose:_**||||
_**(i) the nature of the change in accounting policy; (ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and**_
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_**(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.**_
## **1.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).
**----- Start of picture text -----**
Yes* n/a
* -Tick as appropriate
No* n/a
**----- End of picture text -----**
## _**Please disclose:**_
**----- Start of picture text -----**
(i) the nature of any changes;
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or
more future periods.
**----- End of picture text -----**
## **1.5 Material prior year errors**
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
**----- Start of picture text -----**
Yes* ü
* -Tick as appropriate
No*
**----- End of picture text -----**
## _**Please disclose:**_
**----- Start of picture text -----**
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the
amount of the correction for each account line item
affected; and
(iii) the amount of the correction at the beginning of the
earliest prior period presented in the accounts.
**----- End of picture text -----**
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## **Section C Notes to the accounts (cont)**
## **Note 2 Accounting policies**
_**This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.**_ **2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE**
**Please provide a description of the nature of each change in accounting policy** _**Reconciliation of funds per previous GAAP to funds determined under FRS 102**_ **Start of End of period period £ £ Fund balances as previously stated** _**Adjustments:**_
## **Fund balance as restated**
_**Reconciliation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102**_ **End of period £ Net income/(expenditure) as previously stated** _**Adjustments:**_ **Previous period net income/(expenditure) as restated**
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## **Section C Notes to the accounts (cont)**
**Note 2 Accounting policies 2.2 INCOME Recognition of income** These are included in the Statement of Financial Activities (SoFA) when: · the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; · the monetary value can be measured with sufficient reliability. There has been no offsetting of assets and liabilities, or income and expenses, unless **Offsetting** required or permitted by the FRS 102 SORP or FRS 102. **Grants and donations** Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in **Legacies** the estate and any conditions attached to the legacy are either within the control of the charity or have been met. **Government grants** The charity has received government grants in the reporting period Gift Aid receivable is included in income when there is a valid declaration from the **Tax reclaims on** donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift **donations and gifts** and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. **Contractual income and** This is only included in the SoFA once the charity has provided the related goods or **performance related** services or met the performance related conditions. **grants** Donated goods are measured at fair value (the amount for which the asset could be **Donated goods** exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
**Donated services and** Donated services and facilities are included in the SOFA when received at the value of **facilities** the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
**Support costs** The charity has incurred expenditure on support costs.
The value of any voluntary help received is not included in the accounts but is described **Volunteer help** in the trustees’ annual report.
|Yes*
No*
N/a*|Yes*
No*
N/a*|Yes*
No*
N/a*|
|---|---|---|
|ü|||
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|||ü|
04/21/2024
CC17 FRS 102 SORP
8
|**Income from interest,**|This is included in the accounts when receipt is probable and the amount receivable can|
|---|---|
|**royalties and dividends**|be measured reliably.|
|**Income from membership**|
Membership subscriptions received in the nature of a gift are recognised in Donations|
|**subscriptions**|and Legacies.|
||Membership subscriptions which gives a member the right to buy services or other|
||benefits are recognised as income earned from the provision of goods and services as|
||income from charitable activities.|
|**Settlement of insurance**
**claims**|Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.|
|**Investment gains and**
**losses**|This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the|
||year.|
|**2.3 EXPENDITURE**|**AND LIABILITIES**|
||Liabilities are recognised where it is more likely than not that there is a legal or|
|**Liability recognition**|constructive obligation committing the charity to pay out resources and the amount of
the obligation can be measured with reasonable certainty.|
|**Governance and support**|Support costs have been allocated between governance costs and other support.|
|**costs**|Governance costs comprise all costs involving public accountability of the charity and its|
||compliance with regulation and good practice.|
||Support costs include central functions and have been allocated to activity cost|
||categories on a basis consistent with the use of resources, eg allocating property costs|
||by floor areas, or per capita, staff costs by the time spent and other costs by their|
||usage.|
|**Grants with performance**|Where the charity gives a grant with conditions for its payment being a specific level of|
|**conditions**|service or output to be provided, such grants are only recognised in the SoFA once the|
||recipient of the grant has provided the specified service or output.|
|**Grants payable without**|Where there are no conditions attaching to the grant that enables the donor charity to|
|**performance conditions**|realistically avoid the commitment, a liability for the full funding obligation must be|
||recognised.|
|**Redundancy cost**|The charity made no redundancy payments during the reporting period.|
|**Deferred income**|No material item of deferred income has been included in the accounts.|
|**Creditors**|The charity has creditors which are measured at settlement amounts less any trade
discounts|
||A liability is measured on recognition at its historical cost and then subsequently|
|**Provisions for liabilities**|measured at the best estimate of the amount required to settle the obligation at the|
||reporting date|
|**Basic financial**
**instruments**|The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.|
|**2.4 ASSETS**||
|**Tangible fixed assets for**|These are capitalised if they can be used for more than one year, and cost at least|
|**use by charity**||
||They are valued at cost.|
||The depreciation rates and methods used are disclosed in note 14.|
The charity has intangible fixed assets, that is, non-monetary assets that do not have **Intangible fixed assets** physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15.
They are valued at cost.
The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and **Heritage assets** maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 16.
They are valued at cost.
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end The same treatment is applied to unlisted investments unless fair value cannot be
**Investments**
|Yes*
No*
N/a*|Yes*
No*
N/a*|Yes*
No*
N/a*|
|---|---|---|
|ü|||
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|ü|||
||||
||||
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|Yes*
No*
N/a*|Yes*
No*
N/a*|
|---|---|---|
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
04/21/2024
CC17 FRS 102 SORP
9
## **Stocks and work in progress**
## **Debtors**
**Current asset investments**
end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity of loss than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.
They are valued at fair value except where they qualify as basic financial instruments.
|||ü|
|---|---|---|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|||ü|
|Yes*
No*
N/a*|||
|ü|||
|Yes*
No*
N/a*|||
|||ü|
## **POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE**
04/21/2024
CC17 FRS 102 SORP
10
**Section C Notes to the accounts (cont)**
## **Note 3 Income**
|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
Donations andgifts
2,000,000 - - 2,000,000 -
Gift Aid
- - - - -
Legacies
- - - - -
- - - - -
- - - -
Donated goods, facilities and services
- - - - -
Other
- - - -
**Total** 2,000,000 - - 2,000,000 -
- - - - -
- - - - -
- - - - -
Other
- - - - -
**Total** - - - - -
- - - - -
- - - - -
- - - - -
Other
- - - - -
**Total** - - - - -
Interest income
- - - - -
Dividend income
- - - - -
Rental and leasing income
- - - - -
Other
- - - - -
**Total** - - - - -
- - - - -
- - - - -
- - - - -
- - - - -
**Total** - - - - -
**Other:**
Conversion of endowment funds into income
- - - - -
- - - - -
- - - - -
- - - - -
Other
8,471 - - 8,471 -
**Total** 8,471- - 8,471 -
**TOTAL INCOME**
2,008,471- -2,008,471-
**Other information:**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**
**Donations**
**and legacies:**
General grants provided by government/other
charities
Membership subscriptions and sponsorships
which are in substance donations
**Charitable**
**activities:**
**Other trading**
**activities:**
**Income from**
**investments:**
**Separate**
**material item**
**of income**
Gain on disposal of a tangible fixed asset held
for charity's own use
Gain on disposal of a programme related
investment
Royalties from the exploitation of intellectual
propertyrights|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|**Analysis of income**
**Total funds**
**Prior year**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowme**
**nt funds**|
|---|---|---|---|---|---|---|
||Donations andgifts|2,000,000|-|-|2,000,000|-|
||Gift Aid|-|-|-|-|-|
||Legacies|-|-|-|-|-|
||General grants provided by government/other
charities|-|-|-|-|-|
||Membership subscriptions and sponsorships
which are in substance donations|-|-|-|-||
||Donated goods, facilities and services|-|-|-|-|-|
||
Other|-|-|-|-||
||**Total**|2,000,000|-|-|2,000,000|-|
||||||||
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
||Other|-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
||Other|-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
||Interest income|-|-|-|-|-|
||Dividend income|-|-|-|-|-|
||Rental and leasing income|-|-|-|-|-|
||
Other|-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
||Conversion of endowment funds into income|-|-|-|-|-|
||Gain on disposal of a tangible fixed asset held
for charity's own use|-
|-|-|-|-|
||Gain on disposal of a programme related
investment|-|-|-|-|-|
||Royalties from the exploitation of intellectual
propertyrights|-|-|-|-|-|
||Other|8,471|-|-|8,471|-|
||**Total**|8,471|-|-|8,471|-|
||||||||
|||2,008,471|-|-|2,008,471|-|
||||||||
|**All income in the prior year was unrestricted except for:**
**(please provide description and amounts)**|||||||
**Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion. Where any endowment fund is converted into income in the prior period, please give the reason for the conversion.**
**Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)**
CC17 (E l)
04/21/2024
11
**This year: Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
**Last year: Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
CC17 (E l)
04/21/2024
12
**Section C Notes to the accounts (cont)**
## **Note 4 Analysis of receipts of government grants**
|**Government grant 1**
**Government grant 2**
**Government grant 3**
**Other**
**Government grant 1**
**Government grant 2**
**Government grant 3**
**Other**
**_Please provide details of any_**
**_unfulfilled conditions and other_**
**_contingencies attaching to grants that_**
**_have been recognised in income._**
**_Please give details of other forms of_**
**_government assistance from which_**
**_the charity has directly benefited._**|**Description**
**This year**
**£**|**Description**
**This year**
**£**|**Description**
**This year**
**£**|
|---|---|---|---|
||||-|
||||-|
||||-|
||||-|
||**Total**
**Description**||-|
||||**Last year**
**£**|
||||-|
||||-|
||||-|
||||-|
||**Total** -
**Thisyear**
**Lastyear**||-|
|||||
||**Thisyear**
**Lastyear**|||
|||||
CC17a (Excel)
04/21/2024
13
**Section C Notes to the accounts (cont)**
## **Note 5 Donated goods, facilities and services**
|**Seconded staff**
**Use of property**
**Other**|**Thisyear**|**This year**
**Last year**
**£**
**£**|**This year**
**Last year**
**£**
**£**|
|---|---|---|---|
|||-|-|
|||-|-|
|||-|-|
|||-|-|
|||**Lastyear**||
|**Please provide details of the**
**accounting policy for the recognition**
**and valuation of donated goods,**
**facilities and services.**||||
|**Please provide details of any**
**unfulfilled conditions and other**
**contingencies attaching to resources**
**from donated goods and services not**
**recognised in income.**
**Please give details of other forms of**
**other donated goods and services not**
**recognised in the accounts, eg**
**contribution of unpaid volunteers.**||||
|||||
|||||
|||||
CC17a (Excel)
04/21/2024
14
**Section C Notes to the accounts (cont)**
## **Note 6 Expenditure**
|**Analysis**
**Expenditure on raising funds:**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**This year**
**Last year**
**Total funds**
**Total funds**
**£**
**£**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|
|---|---|---|---|---|---|---|---|---|
|Incurred seeking donations|-|-|-|-|-|-|-|-|
|Incurred seeking legacies|-|-|-|-|-|-|-|-|
|Incurred seeking grants|-|-|-|-|-|-|-|-|
|Operating membership schemes and social
lotteries|-|-|-|-|-|-|-|-|
|Staging fundraising events|-|-|-|-|-|-|-|-|
|Fundraising agents|-|-|-|-|-|-|-|-|
|Operating charity shops|-|-|-|-|-|-|-|-|
|Operating a trading company undertaking
non-charitable trading activity|-|-|-|-|-|-|-|-|
|Advertising, marketing, direct mail and
publicity|-|-|-|-|-|-|-|-|
|Start up costs incurred in generating new
source of future income|-|-|-|-|-|-|-|-|
|Database development costs|-|-|-|-|-|-|-|-|
|Other trading activities|-|-|-|-|-|-|-|-|
|Investment management costs:|-|-|-|-|-|-|-|-|
|Portfolio management costs|-|-|-|-|-|-|-|-|
|Cost of obtaining investment advice|-|-|-|-|-|-|-|-|
|Investment administration costs|-|-|-|-|-|-|-|-|
|Intellectual property licencing costs|-|-|-|-|-|-|-|-|
|Rent collection, property repairs and
maintenance charges|-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
|**Total expenditure on raising funds**|-|-|-|-|-|-|-|-|
|**Expenditure on charitable activities:**|||||||||
|Student support|6,582|-|-|6,582|37,000|6,000|-|43,000|
|Research and marketing|3,590|-|-|3,590|-|-|-|-|
|Support costs: Office costs
Trustee Expenses|1,308|-|-|1,308|-|-|-|-|
||1,309|||1,309|||||
|Governance costs: Professional fees|1,885|-|-|1,885|-|-|-|-|
|**Total expenditure on charitable activities**|14,674|-|-|14,674|37,000|6,000|-|43,000|
|**Separate material item of expense**|||||||||
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
|**Total**|-|-|-|-|-|-|-|-|
|**Other**|||||||||
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
CC17a (Excel)
04/21/2024
15
|**Total other expenditure**
**TOTAL EXPENDITURE**|-|-|-|-|-|-|-|-|
|---|---|---|---|---|---|---|---|---|
||14,674|-|-|14,674|37,000|6,000|-|43,000|
CC17a (Excel)
04/21/2024
16
## **Other information:**
## **Analysis of expenditure on charitable activities**
||**Thisyear**|**Thisyear**|**Thisyear**|**Thisyear**|**Lastyear**|**Lastyear**|**Lastyear**|**Lastyear**|
|---|---|---|---|---|---|---|---|---|
|**Activity or programme**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total this**
**year**|**Activities**
**undertake**
**n directly**|**Grant**
**funding of**
**activities**|
**Support**
**Costs**|**Total last**
**year**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Activity1|-|-|-|-|-|-|-|-|
|Activity2|-|-|-|-|-|-|-|-|
|Other|-|-|-|-|-|-|-|-|
|**Total**|-|-|-|-|-|-|-|-|
**This year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
**Last year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
CC17a (Excel)
04/21/2024
17
## **Section C Notes to the accounts (cont)**
## **Note 7 Extraordinary items**
## _**Please explain the nature of each extraordinary item occurring in the period.**_
|**Description**|**This year**
**Last year**
**£**
**£**|**This year**
**Last year**
**£**
**£**|
|---|---|---|
||-|-|
||||
||-|-|
||-|-|
||-|-|
||||
||-|-|
|**ms**|-|-|
**Extraordinary item 1 Extraordinary item 2 Extraordinary item 3 Extraordinary item 4 Total extraordinary items**
CC17a (Excel)
04/21/2024
18
## **Section C Notes to the accounts**
## **Note 8 Funds received as agent**
_**8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.**_
|||**Amount received**|**Amount received**|**Amountpaid out**|**Amountpaid out**|**Balance held atperiod end**|**Balance held atperiod end**|
|---|---|---|---|---|---|---|---|
|**Description/name of party**|**Related**
**party (Yes**
**or No)**|**Thisyear**|**Lastyear**|**Thisyear**|**Lastyear**|**Thisyear**|**Lastyear**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|**Total**||-|-|-|-|-|-|
## _**8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please disclose details of any balances outstanding between any participating members.**_
|**Description/name of party**|**Balance held atperiod end**|**Balance held atperiod end**|
|---|---|---|
||**Thisyear**|**Lastyear**|
||**£**|**£**|
||-|-|
||-|-|
||-|-|
||-|-|
||-|-|
|**Total**|-|-|
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## **Section C Notes to the accounts**
## **Note 9 Support Costs**
_**Please complete this note if the charity has analysed its expenses using activity categories and has support costs.**_
## **This year**
|**Support cost**
**(examples)**|**Raising funds**|**Activity 1**|**Activity 2**|**Activity 3**|**Grand total**|**Basis of allocation**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**(Describe method)**|
|Governance|-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
|Other|-|-|-|-|-||
|**Total**|-|-|-|-|-||
## **Last year**
|**Support cost**
**(examples)**|**Raising funds**
**£**|**Activity 1**
**£**|**Activity 2**
**£**|**Activity 3**
**£**|**Grand total**
**£**|**Basis of allocation**|
|---|---|---|---|---|---|---|
|||||||**(Describe method)**|
|Governance|-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
|Other|-|-|-|-|-||
|**Total**|-|-|-|-|-||
_**Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.**_
CC17a (Excel)
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## **Section C Notes to the accounts**
## **Note 10 Details of certain types of expenditure**
## **Note 10.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
|**Independent examiner’s fees**
**Assurance services other than independent examination**
**Tax advisory fees**
**Other fees (for example: financial advice, consultancy, accountancy services) paid**
**to the independent examiner**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||123|-|
||-|-|
||-|-|
||-|-|
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## **Section C Notes to the accounts (cont)**
## **Note 11 Paid employees**
_**Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)**_
## **11.1 Staff Costs**
|**Salaries and wages**
**Social security costs**
**Pension costs (defined contribution scheme)**
**Other employee benefits**
**Total staff costs**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||||
||-|-|
||-|-|
**This year:**
**Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party Last year:**
**Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party**
_**Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.**_
**No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000**
|**Band**|**Number of employees**|**Number of employees**|
|---|---|---|
||**Thisyear**|**Lastyear**|
|**£60,000 to £69,999**|-|-|
|**£70,000 to £79,999**|-|-|
|**£80,000 to £89,999**|-|-|
|**£90,000 to £99,999**|-|-|
|**£100,000 to £109,999**|-|-|
||||
|**Please provide the total amount paid to key management**|||
||**Thisyear**|**Lastyear**|
||**£**|**£**|
||-|-|
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**11.2 Average head count in the year The parts of the charity in which the employees work**
||**This year**
**Number**|**Last year**
**Number**|
|---|---|---|
|**Fundraising**|-|-|
|**Charitable Activities**|-|-|
|**Governance**|-|-|
|**Other**|-|-|
|**Total**|-|-|
**11.3 Ex-gratia payments to employees and others (excluding trustees)** _**Please complete if an ex-gratia payment is made.**_
**Please explain the nature of the payment**
**This year**
**Last year**
**Please state the legal authority or reason for making the payment**
**This year Last year**
|**Please state the amount of the payment (or value of any waiver of**
**a right to an asset)**|**Thisyear**|**Lastyear**|
|---|---|---|
||**£**|**£**|
||-|-|
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## **11.4 Redundancy payments**
## _**Please complete if any redundancy or termination payment is made in the period.**_
|**Total amount of payment**
**The extent of redundancy funding at the balance sheet date**
**The nature of the payment (cash, asset**
**etc.)**
**Please state the accounting policy for any redundancy or**
**termination payments**|**Thisyear**|**Lastyear**|
|---|---|---|
||**£**|**£**|
||-|-|
||||
||||
||||
||**Thisyear**|**Lastyear**|
||**£**|**£**|
||-|-|
||||
||||
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## **Section C Notes to the accounts (cont)**
**Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.**
## _**12.1 Please complete this note if a defined contribution pension scheme is operated.**_
|**Amount of contributions recognised in the SOFA as an expense**
**Please explain the basis for allocating the liability and expense of**
**defined contribution pension scheme between activities and**
**between restricted and unrestricted funds.**|**Thisyear**|**Lastyear**|
|---|---|---|
||**£**|**£**|
||-|-|
||||
||||
## _**12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.**_
**Please confirm that although the scheme is accounted for as a defined contribution plan, it is a defined benefit plan.**
**Please provide such information as is available about the plan's surplus or deficit and the implications, if any, for the reporting charity this year and last year, if different**
## _**12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.**_
**Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms and conditions of the multi-employer plan. If this is different for last year, provide details**
**Provide an explanation of how any liability arising from an agreement with a multi-employer plan to fund a deficit has been determined. If this is different for last year, provide details**
CC17a (Excel)
04/21/2024
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## **Section C Notes to the accounts (cont)**
## **Note 13 Grantmaking**
_**Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.**_
## **This year:**
## **13.1 Analysis of grants paid (included in cost of charitable activities)**
|**Analysis**|**Grants to**
**institutions**|**Grants to**
**individuals**|**Support costs**|**Total**|
|---|---|---|---|---|
|Activityorproject 1|||**£**|**£**|
||-|-|-|**-**|
|Activityorproject 2|-|-|-|-|
|Activityorproject 3|-|-|-|-|
|Activityorproject 4|-|-|-|-|
|**_Total_**|**-**|**-**|**-**|**-**|
_**Please enter “Nil” if the charity does not identify and/or allocate support costs.**_
## **13.2 Grants made to institutions**
|**_My charity has made grants to particular institutions that are material in_**
**_the context of its grantmaking. Details of the institution supported,_**
**_purpose of the grant and total paid to each institution is available on the_**
**_charity's web site._**|**_Yes_**|**_Please provide_**
**_details of charity's_**
**_URL._**|
|---|---|---|
||**_No_**|**_Provide details_**
**_below_**|
|**Names of institution**|**Purpose**|**Total amount of**
**grants paid £**|
|---|---|---|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
|**_Total grants to institutions in reporting period_**
**_Other unanalysed grants_**
**_TOTAL GRANTS PAID_**||**-**|
|||-|
|||-|
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## **Last year:**
## **13.3 Analysis of grants paid (included in cost of charitable activities)**
|**Analysis**|**Grants to**
**institutions**|**Grants to**
**individuals**|**Support costs**
**£**|**Total**
**£**|
|---|---|---|---|---|
|Activityorproject 1|-|-|-|-|
|Activityorproject 2|-|-|-|-|
|Activityorproject 3|-|-|-|-|
|Activityorproject 4|-|-|-|-|
|**_Total_**|**-**|**-**|**-**|**-**|
## _**Please enter “Nil” if the charity does not identify and/or allocate support costs.**_
## **13.4 Grants made to institutions**
|**13.4 Grants made to institutions**|**13.4 Grants made to institutions**|||
|---|---|---|---|
|**_My charity has made grants to particular institutions that are material in_**
**_the context of its grantmaking. Details of the institution supported,_**
**_purpose of the grant and total paid to each institution is available on the_**
**_charity's web site._**||**_Yes_**|**_Please provide_**
**_details of charity's_**
**_URL._**|
|||**_No_**|**_Provide details_**
**_below_**|
|||||
|**Names of institution**|**Purpose**||**Total amount of**
**grants paid £**|
||||-|
||||-|
||||-|
||||-|
||||-|
||||-|
||||-|
||||-|
||||-|
||||-|
|**_Total grants to institutions in reporting period_**
**_Other unanalysed grants_**
**_TOTAL GRANTS PAID_**|||**-**|
||||-|
||||-|
CC17a (Excel)
04/21/2024
27
## **Section C Notes to the accounts (cont)**
**Note 14 Tangible fixed assets** _**Please complete this note if the charity has any tangible fixed assets**_
## **14.1 Cost or valuation**
|Additions
Revaluations
Disposals
Transfers *
At end of the year
At the beginning of
the year|**£**
**Freehold land &**
**buildings**|**£**
**Other land &**
**buildings**|**£**
**Plant, machinery and**
**motor vehicles**|**£**
**Fixtures, fittings and**
**equipment**|**Total**
**£**|
|---|---|---|---|---|---|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
## **14.2 Depreciation and impairments**
|****Basis**
**** Rate**
Disposals
Depreciation
Impairment
Transfers*
At end of the year
**14.3 Net book value**
At beginning of the
year
Net book value at the
beginning of the year
Net book value at the
end of the year|SL or RB (Straight
Line or Reducing
Balance)|SL or RB|SL or RB|SL or RB|SL or RB|
|---|---|---|---|---|---|
|||||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
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**14.4 Impairment** _**This year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss. Last year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_ **14.5 Revaluation** _**If an accounting policy of revaluation is adopted, please provide:**_ **This year Last year** _**the effective date of the revaluation the name of independent valuer, if applicable the methods applied and significant assumptions the carrying amount that would have been recognised had**_ - - _**the assets been carried under the cost model.**_
**----- Start of picture text -----**
14.6 Other disclosures
This year Last year
£ £
(i) Please state the amount of borrowing costs, if any, capitalised in the - -
construction of tangible fixed assets and the capitalisation rate used.
(ii) Please provide the amount of contractual commitments for the acquisition - -
of tangible fixed assets.
(iii) Details of the existence and carrying amounts of property, plant and
equipment to which the charity has restricted title or that are pledged as security
for liabilities.
**----- End of picture text -----**
- _The "transfers" row is for movements between fixed asset categories._
- _** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also_
CC17a (Excel)
04/21/2024
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## **Section C Notes to the accounts (cont)**
## **Note 15 Intangible assets** _**Please complete this note if the charity has any intangible assets**_ **15.1 Cost or valuation**
|Additions
Disposals
Revaluations
Transfers *
At end of the year
At beginning of the
year|**£**
**Research &**
**development**|**£**
**Patents and**
**trademarks**|**Other**
**£**|**Total**
**£**|
|---|---|---|---|---|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
## **15.2 Amortisation and impairments**
|****Basis**
**** Rate**
Disposals
Amortisation
Impairment
Transfers*
At end of year
At beginning of the
year|SL or RB|SL or RB|SL or RB|SL or RB|Straight Line
("SL") or
Reducing
Balance
("RB")|
|---|---|---|---|---|---|
|||||||
||- - - -
- - - -
- - - -
- - - -
- - - -
- - - -|||||
||-|-|-|-||
||-|-|-|-||
||-|-|-|-||
||-|-|-|-||
||-|-|-|-||
||-|-|-|-||
## **15.3 Net book value**
|Net book value at the
beginning of the year
Net book value at the
end of the year|-|-|-|-|
|---|---|---|---|---|
||-|-|-|-|
## **15.4 Accounting policy**
_**Please disclose the accounting policy for intangible fixed assets including:**_
_**Reasons for choosing amortisation rates**_
_**Policies for the recognition of any capital development**_
CC17a (Excel)
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## **15.5 Impairment**
**This year:**
_**Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
## **Last year:**
_**Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
## **15.6 Revaluation**
_**If an accounting policy of revaluation is adopted, please provide:**_
|**_the effective date of the revaluation_**
**_the name of independent valuer, if applicable_**
**_the methods applied_**
**15.7 Other disclosures**
**_the carrying amount that would have been_**
**_recognised had the assets been carried under_**
**_the cost model._**
**_(i) If your intangible asset was acquired by way_**
**_of grant, provide value on initial recognition and_**
**_carrying amount of the asset._**
**_(ii) Details of the carrying amounts of any_**
**_intangible assets to which the charity has_**
**_restricted title or that are pledged as security for_**
**_liabilities._**
**_(iii) Please provide the amount of contractual_**
**_commitments for the acquisition of intangible_**
**_assets._**
**_(iv) State the amount of research and_**
**_development expenditure recognised as_**
**_expenditure in the year._**
**_(v) Please detail the headings in the SOFA in_**
**_which a charge for amortisation of intangible_**
**_assets is included._**
**_(vi) For any material intangible assets, please_**
**_provide a description, its carrying amount and_**
**_any remaining amortisation period._**|**This year**|**Last year**|
|---|---|---|
||||
||||
||||
||||
||||
||||
||||
||||
||||
||||
||||
_* The "transfers" row is for movements between fixed asset categories._
_** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction._
CC17a (Excel)
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## **Section C Notes to the accounts (cont)**
## **Note 16 Heritage assets**
## _**Please complete this note if the charity has heritage assets**_
## **16.1 General disclosures for all charities holding heritage assets**
**This year Last year**
**(i) Explain the nature and scale of heritage assets held. (ii) Explain the policy for the acquisition, preservation, management and disposal of heritage assets.**
## **16.2 Cost or valuation**
|At beginning of the year
Additions
Disposals
Revaluations
Transfers *
At end of the year
**16.3 Depreciation and impairments**
****Basis**
**** Rate**
At beginning of the year
Disposals
Depreciation
Impairment
Transfers*
At end of year
**16.4 Net book value**
Net book value at the end of the year
Net book value at the beginning of the
year|**£**
**Heritage asset**
**1**|**£**
**Heritage asset**
**2**|**£**
**Heritage asset**
**3**|**£**
**Heritage asset**
**4**|**Total**
**£**|**Total**
**£**|
|---|---|---|---|---|---|---|
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
|||||||Straight Line
("SL") or
Reducing
Balance
~~(~~"~~RB~~"~~)~~|
||||||||
||- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -||||||
||-|-|-|-|-||
||-|-|-|-|-||
CC17a (Excel)
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## **16.5 Impairment**
## **This year**
_**Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
## **Last year**
_**Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
## **16.6 Revaluation**
_**If an accounting policy of revaluation is adopted, please provide:**_
_**the effective date of the revaluation the name of independent valuer, if applicable qualifications of independent valuer the methods applied and significant assumptions any significant limitations on the valuation**_
**This year Last year**
## **16.7 Analysis of heritage assets by class or group distinguishing those at cost and those at valuation**
|Additions
Disposals
Depreciation/impairment
Revaluation
Carrying amount at the end of period
Carrying amount at the beginning of the
period|**£**
**At valuation**
**Group A**|**£**
**At cost Group**
**B**|**Total**
**£**|
|---|---|---|---|
||-|-|-|
||-|-|-|
||-|-|-|
||-|-|-|
||-|-|-|
||-|-|-|
## **16.8 Heritage assets (where heritage assets are not recoignised on the balance sheet)**
|**(i) Explain the reason why heritage**
**assets have not been recognised on**
**the balance sheet.**
**(ii) Describe the significance and**
**nature of heritage assets.**
**(iii) Disclose information that is**
**helpful in assessing the value of**
**heritage assets.**
**(iv) Explain the reason why it is not**
**practicable to obtain a valuation of**
**heritage assets.**|**This year**|**Last year**|
|---|---|---|
||||
||||
||||
||||
CC17a (Excel)
04/21/2024
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## **16.9 Five year summary of heritage assets transactions**
||**2015**|**2014**|**2013**|**2012**|**2011**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|**Purchases**
Group A
Group B
Group C
Other
**Donations**
Group A
Group B
Group C
Other
**Total additions**
**Charge for impairment**
Group A
Group B
Group C
Other
**Total charge for impairment**
**Disposals**
Group A - carrying amount
Group B - carrying amount
Group C
Other
**Total disposals**||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|||||
||-|||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
|||||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
|||||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
CC17a (Excel)
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**Section C Notes to the accounts (cont)**
## **Note 17 Investment assets**
_**Please complete this note if the charity has any investment assets.**_
## **17.1 Fixed assets investments (please provide for each class of investment)**
|**Less: impairments**
**Add: Reversal of impairments**
Carrying (fair) value at end of year
Carrying (fair) value at beginning of
period
**Add:**additions to investments during
period*
**Less:**disposals at carrying value
**Add/(deduct):**transfer in/(out) in the
period
**Add/(deduct):**net gain/(loss) on
revaluation|**Cash & cash**
**equivalents**|
**Listed**
**investments**|**Investment**
**properties**|**Social**
**investments**|**Other**|**Total**|
|---|---|---|---|---|---|---|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
***Please specify additions resulting from acquisitions through business combinations, if any.**
_**Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.**_
## **17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.**
## **This year:**
|**Analysis of investments**
**Cash or cash equivalents**
**Listed investments**
**Investment properties**
**Social investments**
**Total**
**Grand total (Fair value at year end+Cost less impairment)**
**Other investments**||||
|---|---|---|---|
||**Fair value at year end**|**Cost less impairment**||
||**£**|**£**||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|||
## **Last year: Analysis of investments**
|**Analysis of investments**
**Cash or cash equivalents**
**Listed investments**
**Investment properties**
**Social investments**
**Total**
**Other investments**|||
|---|---|---|
||**Fair value at year end**|**Cost less impairment**|
||**£**|**£**|
||-|-|
||-|-|
||-|-|
||-|-|
||-|-|
||-|-|
CC17a (Excel)
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35
**Grand total (Fair value at year end+Cost less impairment)** -
## **17.3 If your charity holds investment properties, please complete the following note:**
|**(i) Explain the methods and significant assumptions in**
**determining the fair value of investment property held by the**
**charity**
**(ii) Name or independent valuer, if applicable, and relevant**
**qualifications**
**(iii) Provide details of any restrictions on the ability to realise**
**investment property or on the remittance of income or**
**disposal proceeds**
**(iv) Explain any contractual obligations for the purchase,**
**construction or development of investment property or for**
**repairs, maintenance or enhancements**|**Thisyear**|**Lastyear**|
|---|---|---|
||||
||||
||||
||||
## **17.4 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance**
|**Analysis of current asset investments**
**Cash or cash equivalents**
**Listed investments**
**Investment properties**
**Social investments**
**Total**
**17.5 Guarantees**
**Please explain how the guarantee furthers the charity's aims**
**Other investments**
**Please provide details and amount of any guarantee made to**
**or on behalf of a third party**
**Name of the entity or entities benefitting from those**
**guarantees**|**This year**|**Last year**|**Last year**|
|---|---|---|---|
||**£**|**£**||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||**Thisyear**||**Lastyear**|
|||||
|||||
|||||
CC17a (Excel)
04/21/2024
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## **17.6 Concessionary loans**
|**Amounts payable within 1 year**
**Amounts payable after more than 1 year**
**Amounts receivable within 1 year**
**Amounts receivable after more than 1 year**
**Amount of concessionary loans made (****_Multiple_**
**_loans made may be disclosed in aggregate provided_**
**_that such aggregation does not obsure significant_**
**_information_).**
**Amount of concessionary loans received****_(Multiple_**
**_loans received may be disclosed in aggregate_**
**_provided that such aggregation does not obsure_**
**_significant information)._**
**Terms and conditions eg interest rate, security**
**provided**
**Value of any concessionary loans which have**
**been committed but not taken up at the reporting**
**date**|**_Description_**|**_Description_**|**This year £**|**Last year £**|
|---|---|---|---|---|
||||-|-|
||||-|-|
||||-|-|
||||-|-|
||**_Total_**||-|-|
||||||
||**_Description_**
||**This year £**|**Last year £**|
||||-|-|
||||-|-|
||||-|-|
||**_Total_**||-|-|
||||||
||**This year**||**Last year**||
||||||
||||||
||||||
||||||
||||||
||||||
## **17.7 Additional information**
|**Please provide information about the significance**
**of investments to the charity's financial position**
**or performance eg. terms and conditions of loans**
**or the use of hedging to manage financial risk.**
**For all investments measured at fair value, the**
**basis for determining the value, including any**
**assumptions applied when using a valuation**
**technique.**
**Where a charity has provided financial assets as**
**a form of security, the carrying amount of the**
**financial asset pledged as security and the terms**
**and conditions relating to its pledge.**
**For all investments measured at fair value, the**
**basis for determining the value, including any**
**assumptions applied when using a valuation**
**technique.**
**Where a charity has provided financial assets as**
**a form of security, the carrying amount of the**
**financial asset pledged as security and the terms**
**and conditions relating to its pledge.**|**Thisyear**|**Lastyear**|
|---|---|---|
||
||
||||
||||
||||
||||
||||
CC17a (Excel)
04/21/2024
37
**Section C Notes to the accounts (cont)**
## **Note 18 Stocks**
## _**Please complete this note if the charity holds any stock items**_
## **18.1 Please state the carrying amount of stock and work in progress analysed between activities.**
|**Stock**
**Donated goods**
**For resale**
**For resale**
**£**
**£**
**£**
**£**
**£**
**Charitable activities:**
**_Opening_**
- - - - -
**_Added in period_**
- - - - -
**_Expensed in period_**
- - - - -
**_Impaired_**
- - - - -
**_Closing_**
**- - - - -**
**Other trading activities:**
**_Opening_**
- - - - -
**_Added in period_**
- - - - -
**_Expensed in period_**
- - - - -
**_Impaired_**
- - - - -
**_Closing_**
**- - - - -**
**Other:**
**_Opening_**
- - - - -
**_Added in period_**
- - - - -
**_Expensed in period_**
- - - - -
**_Impaired_**
- - - - -
**_Closing_**
**- - - - -**
**Total this year**
- - - - -
**_Total previous year_**
- - - - -
**This year**
**Last year**
**£**
**£**
**Work in**
**progress**
**For**
**distribution**
**For**
**distribution**
**18.2 Please specify the carrying amount of**
**any stocks pledged as security for liabilities**|**Stock**|**Stock**|**Donated goods**|**Donated goods**|**Work in**
**progress**|
|---|---|---|---|---|---|
||**For**
**distribution**|**For resale**|**For**
**distribution**|**For resale**||
||**£**|**£**|**£**|**£**|**£**|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
|||||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
|||||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||**-**|**-**|**-**|**-**|**-**|
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
|||**This year**||**Last year**||
|||**£**||**£**||
|||||||
CC17a (Excel)
04/21/2024
38
## **Section C Notes to the accounts (cont)**
## **Note 19 Debtors and prepayments**
## _**Please complete this note if the charity has any debtors or prepayments.**_
## **19.1 Analysis of debtors**
|**Trade debtors**
**Prepayments and accrued income**
**Other debtors**
**Total**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||-|-|
||-|-|
## _**Complete 19.2 where a material debtor is recoverable more than a year after the reporting date.**_
**19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)**
|**Trade debtors**
**Prepayments and accrued income**
**Other debtors**
**Total**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||-|-|
||-|-|
CC17a (Excel)
04/21/2024
39
## **Section C Notes to the accounts (cont)**
## **Note 20 Creditors and accruals**
_**Please complete this note if the charity has any creditors or accruals.**_
## **20.1 Analysis of creditors**
|**Accruals for grants payable**
**Bank loans and overdrafts**
**Trade creditors**
**Accruals and deferred income**
**Taxation and social security**
**Other creditors**
**Total**
**Payments received on account for contracts**
**or performance-related grants**|**Amounts falling due**
**within one year**|**Amounts falling due**
**within one year**|**Amounts falling due after**
**more than one year**|**Amounts falling due after**
**more than one year**|
|---|---|---|---|---|
||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||794|5,000|-|-|
||-|-|-|-|
||-|-|-|-|
||794|5,000|-|-|
## **20.2 Deferred income**
_**Please complete this note if the charity has deferred income**_
|**_Please complete this note if the charity has deferred_**
|**_ferred_**|||
|---|---|---|---|
|**This year**
**_Movement in deferred income account_**
**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts released to income from previous periods**
**Balance at the end of the reporting period**
**_income_**
**_Please explain the reasons why income is_**
**_deferred._**|**This year**|**Last year**||
|||||
|||||
|||**This year**
**£**|**Last year**
**£**|
|||-|-|
|||-|-|
|||-|-|
|||-|-|
CC17a (Excel)
04/21/2024
40
## **Section C Notes to the accounts (cont)**
## **Note 21 Provisions for liabilities and charges**
_**Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.**_
**----- Start of picture text -----**
21.1 Movements in recognised provisions and funding commitment during the period
This year Last year
£ £
Balance at the start of the reporting period - -
Amounts added in current period - -
Amounts charged against the provision in the current period - -
Unused amounts reversed during the period - -
Balance at the end of the reporting period - -
21.2 Please provide: This year Last year
- a brief description of any obligations on the
balance sheet and the expected amount and
timing of resulting payments;
- an indication of the uncertainties about the
amount or timing of those outflows; and
- the amount of any expected reimbursement,
stating the amount of any asset that has been
recognised for that expected reimbursement.
This year Last year
21.3 For any funding commitment that is not
recognised as a liability or provision, provide
details of commitment made, the time frame
of that commitment, any performance-related
conditions and details of how the
commitment will be funded (with contracts for
capital expenditure separately identified).
21.4 Where unrestricted funds have been
designated to a fund commitment, please
disclose the nature of any amounts
designated and the likely timing of that
expenditure.
**----- End of picture text -----**
CC17a (Excel)
04/21/2024
41
## **Section C Notes to the accounts (cont)**
## **Note 22 Other disclosures for debtors, creditors and other basic financial instruments**
**22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk.**
**This year Last year**
**22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conitions related to its pledge should be given here.**
CC17a (Excel)
04/21/2024
42
**Section C Notes to the accounts (cont)**
## **Note 23 Contingent liabilities and contingent assets**
## **23.1 Contingent liabilities**
**Where the charity has contingent liabililities, please complete the following section unless the possibility of their existence is remote.**
## **This year**
|**Description of item including its legal nature.**
**Please describe any security provided in**
**connection to the liability.**|**Estimate of financial effect**|
|---|---|
|||
|||
|||
|||
## **Last year**
|**Lastyear**||
|---|---|
|**Description of item including its legal nature.**
**Please describe any security provided in**
**connection to the liability.**|**Estimate of financial effect**|
|||
|||
|||
|||
## **23.2 Contingent assets**
**Where the charity has contingent assets, please complete the following section when their existence is probable**
## **This year**
|**This year**|**This year**|
|---|---|
|**Description of item**
**Estimate of financial effect**||
|||
|||
|||
|||
|**Last year**
**Description of item**
**Estimate of financial effect**||
|||
|||
|||
|||
## **23.4 Other disclosures for contingent assets and/or liabilities Please provide the following information where practicable:**
**Explain any uncertainties relating to the amount or timing of settlement; and the possibilty of any reimbursement Where it is not practical to make one or more of these disclosures, please state this fact**
**This year Last year**
CC17a (Excel)
04/21/2024
43
## **Section C Notes to the accounts (cont)**
|**Note 24 Cash at bank and in hand**
**Short term cash investments (less than 3 months maturity date)**
**Short term deposits**
**Cash at bank and on hand**
**Other**
**Total**|||
|---|---|---|
||**This year**
**£**|**Last year**
**£**|
||-|-|
||55,000|-|
||1,390,228|1,255,637|
||-|-|
||1,445,228|1,255,637|
CC17a (Excel)
04/21/2024
44
## **Section C Notes to the accounts (cont)**
## **Note 25 Fair value of assets and liabilities**
|**25.1 Please provide details of the charity's**
**exposure to credit risk (the risk of**
**incurring a loss due to a debtor not paying**
**what is owed) , liquidity risk (the risk of not**
**being able to meet short term financial**
**demands) and market risk (the risk that the**
**value of an investment will fall due to**
**changes in the market) arising from**
**financial instruments to which the charity**
**is exposed at the end of the reporting**
**period and explain how the charity**
**manages those risks.**
**25.2 Please give details of the amount of**
**change in the fair value of basic financial**
**instruments (debtors, creditors,**
**investments (see section 11, FRS 102**
**SORP)) measured at fair value through the**
**SoFA that is attributable to changes in**
**credit risk.**|**Thisyear**
**Lastyear**|**Thisyear**
**Lastyear**|
|---|---|---|
||
||
||||
||||
CC17a (Excel)
04/21/2024
45
**Section C Notes to the accounts (cont)**
## **Note 26 Events after the end of the reporting period**
_**Please complete this note events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.**_
**This year Last year Please provide details of the nature of the event Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made**
CC17a (Excel)
04/21/2024
46
## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.1 Details of material funds held and movements during the CURRENT reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and Restrictions**|**£**
**Fund**
**balances**
**brought**
**forward**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**£**
**Gains and**
**losses**|**£**
**Fund**
**balances**
**carried**
**forward**|
|---|---|---|---|---|---|---|---|---|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
|**_Other funds(balancing figure)_ **|**N/a**|**N/a**|-|-|-|-|-|-|
|**Total Funds as per balance sheet**|||-|-|-|-|-|-|
**Fund balances carried forward include assets and liabilities denominated in a foreign currency**
|Yes*
No*|Yes*
No*|
|---|---|
|ü|ü|
_**If yes, please state the basis on which the assets and/or liabilities have been translated into sterling (or the currency in which the accounts are drawn up).**_
CC17a (Excel)
04/21/2024
47
## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.2 Details of material funds held and movements during the PREVIOUS reporting period**
## _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|**_funds_**|||||||||
|---|---|---|---|---|---|---|---|---|
|**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and Restrictions**|**£**
**Fund**
**balances**
**brought**
**forward**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**£**
**Gains and**
**losses**|**£**
**Fund**
**balances**
**carried**
**forward**|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
|**_Other funds(balancing figure)_ **|**N/a**|**N/a**|-|-|-|-|-|-|
|**Total Funds as per balance sheet**|||-|-|-|-|-|-|
**Fund balances carried forward include assets and liabilities denominated in a foreign currency**
|Yes*
No*|Yes*
No*|
|---|---|
|ü|ü|
CC17a (Excel)
04/21/2024
48
## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds (cont)**
## **27.3 Transfers between funds**
## **This year**
|**Thisyear**|||
|---|---|---|
||**Reason for transfer and where endowment is converted to income,**
**legal power for its conversion**|**Amount**|
|Between unrestricted and
restricted funds||-|
|Between endowment and
restricted funds||-|
|Between endowment and
unrestricted funds||-|
|||-|
## **Last year**
||**Reason for transfer and where endowment is converted to income,**
**legal power for its conversion**|**Amount**|
|---|---|---|
|Between unrestricted and
restricted funds||-|
|Between endowment and
restricted funds||-|
|Between endowment and
unrestricted funds||-|
|||-|
## **27.4 Designated funds**
## **This year**
|**Planned use**|**Purpose of the designation**|**Amount**|
|---|---|---|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
## **Last year**
|**Lastyear**|||
|---|---|---|
|**Planned use**|**Purpose of the designation**|**Amount**|
|||-|
|||-|
|||-|
|||-|
|||-|
|||-|
CC17a (Excel)
04/21/2024
49
## **Section C Notes to the accounts (cont)**
## **Note 28 Transactions with trustees and related parties**
_**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.**_
## **28.1 Trustee remuneration and benefits**
## **This year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|
|---|---|---|---|---|---|---|
|||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**|
|||**£**|**£**|**£**|**£**|**£**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
_**Please give details of why remuneration or other employment benefits were paid.**_
_**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_
_**If a third party has been reimbursed for providing one or more trustees, state the nature of the payment and amount of the reimbursement.**_
_**State the number of trustees to whom retirement benefits are accruing under a defined contribution pension scheme.**_
CC17a (Excel)
04/21/2024
50
## **Last year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|
|---|---|---|---|---|---|---|
|||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**|
|||**£**|**£**||**£**|**£**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|**_Please give details of why remuneration or other_**
**_employment benefits were paid._**
**_Where an ex gratia payment has been made to a trustee,_**
**_provide an explanation of the nature of the payment._**
**_If a third party has been reimbursed for providing one or_**
**_more trustees, state the nature of the payment and_**
**_amount of the reimbursement._**
**_State the number of trustees to whom retirement benefits_**
**_are accruing under a defined contribution pension_**
**_scheme._**|||||||
||||||||
||||||||
||||||||
||||||||
## **28.2 Trustees' expenses**
_**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".**_
**No trustee expenses have been incurred (True or False)**
|**Type of expenses reimbursed**|**This year**|**Last year**|
|---|---|---|
||**£**|**£**|
|**Travel**|-|-|
|**Subsistence**|-|-|
|**Accommodation**|-|-|
|**Other (please specify):**|-|-|
||-|-|
|**TOTAL**|-|-|
CC17a (Excel)
04/21/2024
51
## **Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity**
## **28.3 Transaction(s) with related parties**
_**Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.**_
## **This year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**|
|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|
||||-|-|-|-|
||||-|-|-|-|
||||-|-|-|-|
||||-|-|-|-|
_**In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.**_
_**For any related party, please provide details of any guarantees given or received.**_
## **Last year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**|
|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|
||||-|-|-|-|
||||-|-|-|-|
||||-|-|-|-|
||||-|-|-|-|
_**In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.**_
_**For any related party, please provide details of any guarantees given or received.**_
CC17a (Excel)
04/21/2024
52
**Section C Notes to the accounts (cont)**
## **Note 29 Additional Disclosures**
**The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.**
CC17a (Excel)
04/21/2024
53
CHARITY CO
FOR ENGLAND
In
epen
ent
examiner's report
on the accounts
+•+
Section A
Independent Examiiier s Report
Report to the tru5teesl
members of
The Innor Clr¢lo Educationd Trust
On accounts for the year ended
31 Juty 2023
Charlty no. 291583
Set out on pages
As attathed
I iepjrt to the trUSS i)n my examin*ion of the accounts of the above
charity rthe Trusf) for the year ended 3110712023.
Responslbllllles and basls of
report
As the charity Irustees of the Tr you are responsible for the
preparalion of the accounts in accordance wtth the requirements of the
Charities Act 2011 fft A.
I rew)rt in respect of my eqMInatIOn of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my ex8rnination.
I have follchved the awicable Directions grven by the Charity
Commission under seaion 145(5)(b) of the ACL
I have comtAeted my eMination. I confirm that no material matters
have come to my attention in connection wtlh the examination wthich
gives tne cause to IlieVe that in. ary material respecL'
l. accounting records Ere rt kept in accordance with
section 130 of the Act or
2 Ihe accounts do TX)t accord with Ihe accounting
records.
Independent examiner's
statement
I have no concems and tAve come across no other matters in
nnection wilh the ekqmination to vthich attentM)n should be drawn in
order to enable a proper ufKlersLgTrJiNJ of the accounts to be reached.
Slgned:
Dale: 28 March 2024
Name:
HtY*vard Lane
Relevant professIoTl
qudlflcatlon(s) or b¢xly Of any):
Fellow of the Insliluk of FinwKiat Accwntants
Addre5S:
Pro-Filing Ltd
68 Canlertxjry Grove
London SE27 OPA
IER