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2023-12-31-accounts

Charity registration number 292201

GRAND ORDER OF WATER RATS CHARITIES FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

GRAND ORDER OF WATER RATS CHARITIES FUND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr C Emmett Mr K Kaye Mr R W Wakeman Mr D Brock Mr R Gauntlett Charity number 292201 Independent examiner RDP Newmans LLP Lynwood House 373-375 Station Road Harrow Middlesex HA1 2AW

GRAND ORDER OF WATER RATS CHARITIES FUND

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 17

GRAND ORDER OF WATER RATS CHARITIES FUND

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charitable objects of the Grand Order of Water Rats Charities Fund are given below and are taken from the charity's governing document as follows:

There have been no changes in the objectives of the charity during the year.

To meet these objectives the Charity aims to:

The main activities are; conducting fund raising functions, Lodge tours organised by members of the Grand Order of Water Rats together with investment income, rent and donations

To assess whether these objectives have been achieved, the Trustees meet periodically to discuss and assimilate the various requests for help, review the amount of monies received for charitable purposes and remit funds accordingly.

In this context the trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission in relation to the activities being for the public benefit, as well as, the Equalities Act 2010 when reviewing the Charity's aims and objectives and in planning future activities.

Achievements and performance

The results for the year are set out in the Statement of Financial Activities on page 6.

The charity usually receives its income from profits gained from fund raising functions, Obviously this year we were unable to do that. With functions nor Lodge tours able to go ahead, our income reduced quite considerably. Last year, we also had to give our tenant at the pub a period without paying rent. However the tenant is now paying full rent again.We also received little income from our investments.

GRAND ORDER OF WATER RATS CHARITIES FUND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

The trustees consider the performance of the charity during the year to be satisfactory. During the year the charity received income of £136,726 (2022: £167,473). Charitable expenditure on charitable activities totalled £178,015 (2022: £157,535). There were also net gain on investments of £10,755 (2022: net loss £37,719)

In the year under review total unrestricted fund balance, after adjusting for revaluation reserve, decreased to £1,455,767 (2022: £1,483,901). The restricted fund amounted to £297,600 (2022: £300,000) as at the balance sheet date for use of Water Rats at Brinsworth House, an old age home.The trustees consider the fund balances to be adequate.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to at least approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which arise from time to time. Unrestricted funds were maintained above this level throughout the year. At the balance sheet date, General unrestricted funds amounted to £1,455,767 (2022: £1,483,901). The Trustees review this policy at regular meetings throughout the year.

Grant making policy

The Trustees require written requests for assistance. Grants, both one-off and regular, can be made to members of the theatrical profession and their dependents. To qualify, a professional must have been a performer for a minimum of seven years in the theatrical profession. The Trustees do not make grants for student's fees or for education. Nor do they make grants to cover debts incurred by credit card usage, bank loans or overdrafts or for local or national taxes. From time to time the Trustees may also grant a one-off payment to organisations or individuals who the Trustees feel are in need of assistance. The Trustees review this policy at regular meetings throughout the year.

Investment policy

In accordance with the trust deed, the trustees have the power to invest in such stocks, shares, investments and property in the UK as they see fit. The Trustees engaged an investment group as investment managers. The policy is to adopt a medium risk investment strategy based on maximising income within this strategy. No specific income target was set, but overall a return of approximately 5.8% (2022: 5.9%) was achieved on the market value of the value of the investments held. The market value of the investments held at the balance sheet date was £384,922 (2022: £356,750).

Risk management

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Grand Order of Water Rats Charities Fund is an unincorporated registered charity (Charity number 292201). The Charity was established by a charitable trust deed dated 8 May 1985 and amended by resolution dated 18 July 1999. The trusts' legal and administrative details are set out on page 1.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr C Emmett Mr K Kaye Mr R W Wakeman Mr D Brock Mr R Gauntlett

GRAND ORDER OF WATER RATS CHARITIES FUND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Organisational structure

The board of trustees is the governing body which administers the charity. All major decisions are made by the board which meets regularly to discuss, and consider appeals and requests for assistance and other matters placed before them. The trustees also formulate policy and to decide on strategy. A scheme of delegation is in place and day to day responsibility for the affairs of the Charity rests with the Trustees equally.

The trustees are elected at the annual general meeting in line with the charity's policy.

None of the trustees has any beneficial interest in the charity.

Trustee induction and training

Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee. Any new trustees are, upon appointment, fully briefed and trained by the existing committee and made aware of their responsibilities and duties.

The trustees wish to record their thanks to many other theatrical and musical charities with whom they have worked during the past year. The trustees also wish to record their gratitude to all members of the order who have worked on behalf of the charity.

Related parties

As at 31 December 2023, other debtors include £2,659 (2022 - £54,834) due from Grand Order of Water Rats General Fund. The trustees of the charity are members of Grand Order of Water Rats General Fund who operate from the same building.

During the year, the charity paid £8,400 (2022- £8,600) to Mr. K Kaye, a trustee, for bookkeeping services.

During the year, aggregate donations received from related parties without conditions amounted to £400 (2022 - £nil).

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

Mr C Emmett Trustee

13 October 2024

GRAND ORDER OF WATER RATS CHARITIES FUND

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

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

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

GRAND ORDER OF WATER RATS CHARITIES FUND

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GRAND ORDER OF WATER RATS CHARITIES FUND

I report to the trustees on my examination of the financial statements of Grand Order of Water Rats Charities Fund (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

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

The charity’s trustee considers that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

My examination was carried out in accordance with general Directions given by the Charity Commission. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr Lyndon Perez FCA RDP Newmans LLP

Lynwood House 373-375 Station Road Harrow Middlesex HA1 2AW

Dated: 21 October 2024

GRAND ORDER OF WATER RATS CHARITIES FUND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
8,340
-
Investments
4
128,386
-
Other income
5
-
-
Total income
136,726
-
Charitable activities
6
175,615
2,400
Net gains/(losses) on
investments
10
10,755
-
Net expenditure and
movement in funds
(28,134)
(2,400)
Reconciliation of funds:
Fund balances at 1 January
2023
1,483,901
300,000
Fund balances at 31
December 2023
1,455,767
297,600		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
8,340
19,542
-
128,386
147,801
-
-
130
-
136,726
167,473
-
178,015
157,535
-
10,755
(37,719)
-
(30,534)
(27,781)
-
1,783,901
1,511,682
300,000
1,753,367
1,483,901
300,000		 Total
2022
£
19,542
147,801
130
167,473
157,535
(37,719)
(27,781)
1,811,682
1,783,901

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

GRAND ORDER OF WATER RATS CHARITIES FUND

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
17
Unrestricted funds		 2023
£
£
1,212,655
384,922
1,597,577
1,275
36,236
147,679
185,190
29,400
155,790
1,753,367
297,600
1,455,767
1,753,367		 2022
£
£
1,211,924
356,750
1,568,674
1,913
64,987
178,111
245,011
29,784
215,227
1,783,901
300,000
1,483,901
1,783,901		 2022
£
£
1,211,924
356,750
1,568,674
1,913
64,987
178,111
245,011
29,784
215,227
1,783,901
300,000
1,483,901
1,783,901
1,568,674
215,227
1,783,901
300,000
1,483,901
1,783,901

The financial statements were approved by the trustees on 13 October 2024

Mr K Kaye Trustee

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Grand Order of Water Rats Charities Fund is a registered charity (charity number 292201) . The charity was established by a charitable trust deed on 8 May 1985 and amended by resolution dated 18 July 1999.

1.1 Accounting convention

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

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

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

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

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

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

1.4 Income

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

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

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

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

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

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

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.

Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities include both the direct and support costs relating to these activities.

Governance costs are the central running costs of the charity including legal and regulatory compliance and strategic management of the charity.

1.6 Tangible fixed assets

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

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

Freehold land and buildings Not depreciated Fixtures and fittings 20% reducing balance method.

Freehold land is not depreciated.

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

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

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

1.11 Financial instruments

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

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

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

Basic financial assets

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

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

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

2 Critical accounting estimates and judgements

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

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

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 8,340 19,542
Investments
Unrestricted Total
funds
2023 2022
£ £
Rental income 104,271 126,500
Investment income 22,516 21,108
Interest receivable 1,599 193
128,386 147,801

4 Investments

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Other income

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Other income - 130
6 Charitable activities
2023 2022
£ £
Administrator's wages and pension costs 45,348 34,960
Depreciation and impairment 1,068 886
Bank and credit card charges 174 188
Insurance 8,168 6,569
Secretarial fees 18,000 18,000
Repairs and renewals 7,304 7,982
Printing, postage and stationary 358 532
Rates and service charges 35,921 32,573
Sundry expenses 4,893 3,281
Advertising 900 1,800
Telephone and fax 3,218 3,805
Travel, entertaining and subsistence 3,363 2,872
Bookeeping services 8,400 8,600
Light and heat 6,040 4,147
Legal and professional 2,228 2,273
Independent examination fees 8,600 7,000
153,983 135,468
Grant funding of activities (see note 7) 24,032 22,067
178,015 157,535
Analysis by fund
Unrestricted funds 175,615
Restricted funds 2,400
178,015
For the year ended 31 December 2022
Unrestricted funds 157,535

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Grants payable

Grants to institutions:
Grants to individuals		 2023
£
2,000
22,032
24,032		 2022
£
6,000
16,067
22,067

8 Trustees

During the year, an amount of £8,400 (2022: £8,600) was paid to Mr K Kaye for bookkeeping services.

9 Employees

Number of employees

The average monthly number of employees during the year was:

2023 2022
Number Number
1 1
Employment costs 2023 2022
£ £
Administrator's wages 43,458 33,227
Other pension costs 1,890 1,733
45,348 34,960

10 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Revaluation of investments 11,378 (37,719)
Gain/(loss) on sale of investments (623) -
10,755 (37,719)

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2023
1,208,382
13,696
Additions
-
1,799
At 31 December 2023
1,208,382
15,495
Depreciation and impairment
At 1 January 2023
-
10,154
Depreciation charged in the year
-
1,068
At 31 December 2023
-
11,222
Carrying amount
At 31 December 2023
1,208,382
4,273
At 31 December 2022
1,208,382
3,542		 Total
£
1,222,078
1,799
1,223,877
10,154
1,068
11,222
1,212,655
1,211,924

13 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2023 356,750
Valuation changes 44,197
Disposals (16,025)
At 31 December 2023 384,922
Carrying amount
At 31 December 2023 384,922
At 31 December 2022 356,750

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14
Stocks
Finished goods and goods for resale
15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
1,275
2023
£
2,658
33,578
36,236
2023
£
20,456
344
8,600
29,400		 2022
£
1,913
2022
£
54,834
10,153
64,987
2022
£
22,718
66
7,000
29,784

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Previous year:
At 1		 January
2023
Resources
expended
At 31
December
2023
£
£
£
300,000
(2,400)
297,600
January
2022
Resources
expended
At 31
December
2022
£
£
£
300,000
-
300,000

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2023
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2023
£
£
£
£
£
1,483,901
136,726
(175,615)
10,755
1,455,767
1 January
2022
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2022
£
£
£
£
£
1,511,682
167,473
(157,535)
(37,719)
1,483,901

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
1,212,655
-
Investments
384,922
-
Current assets/(liabilities)
(141,810)
297,600
1,455,767
297,600
Unrestricted
Restricted
funds
funds
2022
2022
£
£
Fund balances at 31 December 2022 are represented by:
Tangible assets
1,211,924
-
Investments
356,750
-
Current assets/(liabilities)
(84,773)
300,000
1,483,901
300,000		 Total
2023
£
1,212,655
384,922
155,790
1,753,367
Total
2022
£
1,211,924
356,750
215,227
1,783,901

The restricted fund is for the use of Water Rats at Brinsworth House; an old age home.

20 Related party transactions

GRAND ORDER OF WATER RATS CHARITIES FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

20 Related party transactions

(Continued)

As at 31 December 2023, other debtors include £2,659 (2022 - £54,834) due from Grand Order of Water Rats General Fund. The trustees of the charity are members of Grand Order of Water Rats General Fund who operate from the same building.

During the year, the charity paid £8,400 (2022- £8,600) to Mr. K Kaye, a trustee, for bookkeeping services.

During the year, aggregate donations received from related parties without conditions amounted to £400 (2022 - £nil).