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2024-12-31-accounts

Charity registration number 296966 (England and Wales)

TED ELLIS TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

TED ELLIS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A R Meadows R W Ellis S A Meadows D J Hoare J N Wilson R Hobbs L Hall (Appointed 17 July 2024) S Perkin (Appointed 27 November 2024) J Slynn (Appointed 24 September 2024) Charity number (England and 296966 Wales) Independent examiner Argents Accountants Limited 15 Palace Street NORWICH Norfolk United Kingdom NR3 1RT

TED ELLIS TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 16

TED ELLIS TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".

Objectives and activities

The Ted Ellis Trust was established in 1987 to conserve and protect for the benefit of the public the environment as a whole in its animal and plant life and in particular to conserve, protect and maintain Wheatfen Broad. In addition, to establish a nature area and centre to house natural history specimens, and to organise or conduct lectures with a view to advancing the education of the public, including pupils of schools, in natural history. The Trust is a small one and has concentrated its activities on the conservation of Wheatfen and some educational aspects (see below). The financial results for the year under review are set out in this report. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities and purchases the charity should undertake.

The ‘Friends Committee’ was formally and properly dissolved as an informal entity with full support from the ‘Friends’ [a group of regular supporters who have historically focused on raising funds for the trust]. The aim is to streamline governance and management of the reserve.

Lesley Hall, Scott Perkin and Jeremy Slynn [Amaladasa] were appointed as Trustees taking the total number of Trustees to nine. As the previous Chair of the former Friends Committee, Lesley was appointed to ensure the continued representation of this group at Trustee level. Scott has international experience as a conservationist with the IUCN and Jeremy is a representative of Lessingham House a local Buddhist community that has a long relationship with the reserve.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Will Fitch continued to be employed as Reserve Warden. Additional funding from the John and Pamela Salter Charitable Trust supported the appointment of Rebecca Carver as a Trainee Assistant Warden for an extended period. Rebecca had been very successful in her first year in the post but it was agreed that she would benefit from a 6 month extension of her contract. Rebecca increased social media coverage of the reserve, instigated a major new archiving project and led a grasshopper reintroduction project alongside setting up and running a number of children’s safaris and a weekend event focusing on sound. Revised Volunteering and Safeguarding Policies were drafted and implemented.

The Thatch Information Centre was re thatched by a local thatcher with support from bequests to the trust and the office was replaced with a new more modern and energy efficient building on the same footprint with support from the John and Pamela Salter Trust.

Dredging works to improve the flow of water onto and off the reserve continued during winter 2024/5 with a second major grant [£20,000] from Anglian Water’s ‘Get River Positive’ scheme. All books in the extensive library in the Study Centre were sorted and catalogued by volunteers. A new mower/rushcutter was purchased with a Farming In Protected Landscapes [FIPL] grant from the Broads Authority. The programme to replace boardwalks also continued.

A full programme of events was organised by the Warden throughout the year and run with the assistance of supporters and volunteers.

Financial review

At 31 December 2024 reserves of the charity amounted to £1,194,233 of which £2,142 was restricted funds.

TED ELLIS TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves policy

Cash has been retained in the COIF Charities Deposit Fund to be available to offset any deficiencies in income needed to meet regular monthly expenditure and to fund large scale conservation projects if grant aid is not available.

It remains the Trustees' aim to cover annual expenditure on the reserve with annual income including investment income, taking one year with another, rather than to fund expenditure deficits by realisation of liquid assets, and so diminish a source of regular income.

Investment policy

The investment policy of the Trustees has been to buy and retain Government Stocks when the rate of interest was relatively high, to provide a regular monthly income to cover regular monthly expenditure.

Additional bequest funding has benefited the Trust's reserves. Trustees gave detailed thought and sought advice prior to increasing the proportion of ethical investment in line with the Trust's objectives and activities. Thanks to this the market value of the investments held by the Trust at 31 December 2024 stands at £890,961 (2023 : £876,744)

Major risks

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

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: A R Meadows

R W Ellis S A Meadows D J Hoare J N Wilson R Hobbs L Hall (Appointed 17 July 2024) S Perkin (Appointed 27 November 2024) J Slynn (Appointed 24 September 2024)

Recruitment and appointment of trustees

The Trustees hold their appointment under Clause 11 of the Declaration of Trust.

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

S A Meadows

Trustee

28 October 2025

TED ELLIS TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TED ELLIS TRUST

I report to the trustees on my examination of the financial statements of Ted Ellis Trust (the charity) for the year ended 31 December 2024.

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.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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.

Mark Johnstone FCA

Argents Accountants Limited 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom 28 October 2025

TED ELLIS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
20,674
49,656
Other trading activities
4
762
-
Investments
5
28,234
-
Total income
49,670
49,656
Expenditure on:
Raising funds
6
3,638
1,457
Charitable activities
Conservation Costs
7
80,477
35,202
Education Costs
7
13,815
3,625
Total charitable
expenditure
94,292
38,827
Total expenditure
97,930
40,284
Net gains/(losses) on
investments
12
24,145
-
Net income/(expenditure)
(24,115)
9,372
Transfers between
funds
21,956
(21,956)
Net movement in
funds
9
(2,159)
(12,584)
Reconciliation of funds:
Fund balances at 1 January
2024
1,194,240
14,726
Fund balances at 31
December 2024
1,192,081
2,142		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
70,330
29,900
46,766
762
1,003
-
28,234
24,913
-
99,326
55,816
46,766
5,095
2,900
-
115,679
46,985
20,445
17,440
8,567
3,055
133,119
55,552
23,500
138,214
58,452
23,500
24,145
30,576
-
(14,743)
27,940
23,266
-
13,540
(13,540)
(14,743)
41,480
9,726
1,208,966
1,152,760
5,000
1,194,223
1,194,240
14,726		 Total
2023
£
76,666
1,003
24,913
102,582
2,900
67,430
11,622
79,052
81,952
30,576
51,206
-
51,206
1,157,760
1,208,966

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

TED ELLIS TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2024
£
£
236,934
890,962
1,127,896
10,755
58,170
68,925
(2,598)
66,327
1,194,223
2,142
1,192,081
1,194,223		 2023
£
£
199,391
876,744
1,076,135
10,543
124,627
135,170
(2,339)
132,831
1,208,966
14,726
1,194,240
1,208,966		 2023
£
£
199,391
876,744
1,076,135
10,543
124,627
135,170
(2,339)
132,831
1,208,966
14,726
1,194,240
1,208,966
1,076,135
132,831
1,208,966
14,726
1,194,240
1,208,966

The financial statements were approved by the trustees on 28 October 2025

S A Meadows Trustee

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

Ted Ellis Trust is a an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance 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) (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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The 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.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

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

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

Freehold land and buildings n/a Study Centre & offices 2% reducing balance Sheds, Bridges, Boardwalks and Jetty 15-25% reducing balance Plant and equipment 25% reducing balance Fixtures and fittings 15% reducing balance Office equipment and computers 25% reducing balance Boats 25% reducing balance

Freehold land and assets in the course of construction are 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).

1.9 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.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.10 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.

1.11 Taxation

The charity is exempt from tax on its charitable activities

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.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
15,072
17,000
Legacies
-
-
Grants
-
32,656
Membership fees
5,602
-
20,674
49,656
Grants
Rural Payment Agency -
Environmental
Stewardship
-
-
Other
-
32,656
-
32,656		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
32,072
11,491
28,540
-
12,801
-
32,656
-
18,226
5,602
5,608
-
70,330
29,900
46,766
-
-
8,226
32,656
-
10,000
32,656
-
18,226		 Total
2023
£
40,031
12,801
18,226
5,608
76,666
8,226
10,000
18,226

4 Other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 762 1,003

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5 Investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Dividends 28,206 24,889
Interest receivable 28 24
28,234 24,913

6 Expenditure on raising funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fundraising and publicity
Staging fundraising
events
500
1,457
Investment management
3,138
-
Total costs
3,638
1,457		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,957
282
-
3,138
2,618
-
5,095
2,900
-		 Total
2023
£
282
2,618
2,900

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7 Expenditure on charitable activities

Conservation
Costs
Education
Costs
2024
2024
£
£
Direct costs
Staff costs
44,511
11,127
Maintenance work
24,027
-
Dredging/Dyke re-
profiling
20,700
-
Boardwalks
1,192
-
90,430
11,127
Share of support and governance costs (see note 8)
Support
24,654
6,164
Governance
595
149
115,679
17,440
Analysis by fund
Unrestricted funds
80,477
13,815
Restricted funds
35,202
3,625
115,679
17,440		 Total
Conservation
Costs
Education
Costs
2024
2023
2023
£
£
£
55,638
39,085
9,447
24,027
5,127
-
20,700
-
-
1,192
5,524
-
101,557
49,736
9,447
30,818
14,899
1,476
744
2,795
699
133,119
67,430
11,622
94,292
46,985
8,567
38,827
20,445
3,055
133,119
67,430
11,622		 Total
2023
£
48,532
5,127
-
5,524
59,183
16,375
3,494
79,052
55,552
23,500
79,052

8 Support costs allocated to activities

Support costs allocated to activities
Depreciation
Rent, insurance and utilities
Administration costs
Bank charges
Other
Governance costs
Analysed between:
Conservation Costs
Education Costs		 2024
£
15,445
10,539
2,895
275
1,664
744
31,562
25,249
6,313
31,562		 2023
£
2,587
8,724
3,404
270
1,390
3,494
19,869
17,694
2,175
19,869

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 720 720
Depreciation of owned tangible fixed assets 15,445 2,587

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Warden 2 2
Employment costs 2024 2023
£ £
Wages and salaries 55,638 48,532

There were no employees whose annual remuneration was more than £60,000.

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 21,123 33,314
Sale of investments 3,022 (2,738)
24,145 30,576

13 Taxation

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

Total £ 291,444 52,988 344,432 92,053 15,445 107,498 236,934 199,391
Boats £ 3,929 - 3,929 3,929 - 3,929 - -
Fixtures and
Office		 fittings
equipment and		 computers £
£		 1,336
1,499		 -
383		 1,336
1,882		 1,336
1,193		 -
172		 1,336
1,365		 -
517		 -
306
Plant and equipment £ 39,585 29,846 69,431 35,539 8,473 44,012 25,419 4,046
Sheds, Bridges, Boardwalks and Jetty £ 52,719 - 52,719 30,628 5,523 36,151 16,568 22,091
Study Centre & offices £ 83,266 22,759 106,025 19,428 1,277 20,705 85,320 63,838
Freehold land and buildings £ 109,110 - 109,110 - - - 109,110 109,110
Tangible fixed assets Cost At 1 January 2024 Additions At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charged in the year At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023
14

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

15 Fixed asset investments

Cost or valuation
At 1 January 2024
Additions
Valuation changes
Disposals
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Other taxation and social security
Accruals and deferred income		 Listed
investments
£
876,744
25,689
21,123
(32,594)
890,962
890,962
876,744
2024
2023
£
£
3,007
3,007
7,748
7,536
10,755
10,543
2024
2023
£
£
1,158
899
1,440
1,440
2,598
2,339

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18 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
Trainee warden funding
Dredging/Dyke
Machinery Fund
Previous year:
At
Trainee warden funding
Boardwalk funding
Scrub Clearance
Dredging/Dyke		 1 January
2024
Incoming
resources
Resources
expended
£
£
£
4,726
17,000
(19,584)
10,000
10,000
(20,700)
-
22,656
-
14,726
49,656
(40,284)
1 January
2023
Incoming
resources
Resources
expended
£
£
£
5,000
15,000
(15,274)
-
13,540
-
-
8,226
(8,226)
-
10,000
-
5,000
46,766
(23,500)		 Transfers
At 31
December
2024
£
£
-
2,142
700
-
(22,656)
-
(21,956)
2,142
Transfers
At 31
December
2023
£
£
-
4,726
(13,540)
-
-
-
-
10,000
(13,540)
14,726

19 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
2024
Incoming
resources
Resources
expended
£
£
£
1,194,240
49,670
(97,930)
1 January
2023
Incoming
resources
Resources
expended
£
£
£
1,152,760
55,816
(58,452)		 Transfers
Gains and
losses
At 31
December
2024
£
£
£
21,956
24,145
1,192,081
Transfers
Gains and
losses
At 31
December
2023
£
£
£
13,540
30,576
1,194,240

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Tangible assets
236,934
-
Investments
890,962
-
Current assets/(liabilities)
64,185
2,142
1,192,081
2,142
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
199,391
-
Investments
876,744
-
Current assets/(liabilities)
118,105
14,726
1,194,240
14,726		 Total
2024
£
236,934
890,962
66,327
1,194,223
Total
2023
£
199,391
876,744
132,831
1,208,966

21 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).