```
REGISTERED CHARITY NUMBER: 298933
```
## **`REPORT OF THE TRUSTEES AND`**
## **`UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024`**
## **`FOR`**
## **`ISLE OF WIGHT DIABETIC FUND`**
```
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
```
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 14
Detailed Statement of Financial Activities 15
**----- End of picture text -----**
```
ISLE OF WIGHT DIABETIC FUND
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
```
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2024. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objects of the charity`**
```
The relief and treatmentof persons suffering from diabetes and any other disease which is co-existentwith or related to
diabetes;
```
```
The promotionof publiceducationand researchinto the nature,causes,preventionand treatmentof diabetesand the
dissemination of the useful results of any such work;
```
```
Promotingthe healthand welfareof personssufferingfrom diabetesby the purchaseof equipmentor by the provision
of medical nursing or other staff or facilities necessary for the treatment or relief of diabetes; and
```
```
Promotingeducationinandtheincreaseofpublicknowledgeof,thenature,cause,preventionandtreatment of
diabetes by such means as are charitable as the trustees shall determine from time to time.
```
## **`Review of the activities and future developments`**
```
The charity continued to pursue its general objectives during the year. No exceptional events occurred and the
trusteesare satisfiedwith the charity'sprogress.The charitywill continueto seek donations,sponsorshipand grants to
providesufficientresourcestofulfilitscharitableobjectivesandsupportthediabetespatientsupportgroup alongside
supporting educational training and development where considered necessary.
```
## **`Public benefit`**
```
Alltheactivitiesofthecharityfocusondeliveringcommunitybenefitandareinaccordancewiththeobjectsof the
charity.ThetrusteeshavecompliedwiththeirdutytohavedueregardtotheCharityCommission'spublic benefit
guidance when exercising any powers or duties to which the guidance is relevant.
```
## **`FINANCIAL REVIEW`**
## **`Financial position`**
```
Incomingresourcesfortheyearamountedto£109,082,(2023-£22,266).Costsofcharitableactivitiesamounted to
£29,886(2023-£16,328)andunrealisedgainsoninvestmentsamountedto£152(2023-£30).Unrestricted and
restrictedfundscarriedforwardattheendoftheyearamountedto£768,282,(2023- £687,901)and£10,944(2023 -
£11,977) respectively.
```
## **`Reserves policy`**
```
It is the policyof the charityto maintainunrestrictedfunds,whichare the free reservesof the charity,at a level which
equatesto approximatelysix months unrestrictedexpenditure.This providessufficientfunds to cover management and
administration and support costs.
```
```
Currently,thereisashortageofsuitableprojectsforthecharitytosupport.Consequentlythelevelofreserves has
exceeded the target set by the trustees. The trustees are actively searching for other worthwhile projects in the diabetes
field.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
```
## **`Organisational structure`**
```
Thecharityis managedbyitstrusteeswhomeetasoftenasis necessaryfortheadministrationandproperconduct of
the charity. New trustees may be appointed by the existing trustees.
```
```
Page 1
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management`**
```
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
```
```
It is the charity'spolicy not to borrow money but to work within the its existing funds in additionto ensuring that money
spentisinkeepingwiththeobjectivesofthecharity.Thecharityalsohastwoboardmemberscontrollingdayto day
affairs in addition to the chairman's role in signing larger sums.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`**
```
298933
```
## **`Principal address`**
```
St Mary's Hospital
Newport
Isle of Wight
PO30 5TG
```
## **`Trustees`**
```
Dr A K Baksi (resigned 13.3.24)
Mrs E Whittingstall
G Hall (resigned 13.3.24)
P St John Jacobs
R Newnham
Dr V Lawrence
Mrs M P Wilson
Mrs T E Porteous
Mrs S Stanley
T M Willey (appointed 13.3.24)
D Mitchell (appointed 13.3.24)
```
## **`Independent Examiner`**
```
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
```
```
Approved by order of the board of trustees on 20 November 2024 and signed on its behalf by:
```
```
P St John Jacobs - Trustee
```
```
Page 2
```
```
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ISLE OF WIGHT DIABETIC FUND
```
## **`Independent examiner's report to the trustees of Isle of Wight Diabetic Fund`**
```
I report to the charitytrustees on my examinationof the accountsof Isle of Wight DiabeticFund (the Trust) for the year
ended 31 March 2024.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
I report in respect of my examinationof the Trust's accountscarried out under Section 145 of the Act and in carrying out
my examinationI have followed all applicableDirectionsgiven by the Charity Commission under Section 145(5)(b)of the
Act.
```
## **`Independent examiner's statement`**
```
I have completedmy examination.I confirm that no material matters have come to my attentionin connectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
J Palmer
```
```
The Association of Chartered Certified Accountants
```
```
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight
```
```
19 December 2024
```
```
Page 3
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`88,095`
`Investment income`
`3`
`19,112`
**`Total`**
`107,207`
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`Education and research into nature, cause etc of`
`diabetes, relief and treatment for people`
`suffering with diabetes`
`26,978`
`Net gains on investments`
`152`
**`NET INCOME/(EXPENDITURE)`**
`80,381`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`687,901`
**`TOTAL FUNDS CARRIED FORWARD`**
`768,282`|`Restricted`
`funds`
`£`
`1,875`
`-`
`1,875`
`2,908`
`-`
`(1,033)`
`11,977`
`10,944`|`2024`
`Total`
`funds`
`£`
`89,970`
`19,112`
`109,082`
`29,886`
`152`
`79,348`
`699,878`
`779,226`|`2023`
`Total`
`funds`
`£`
`15,851`
`6,415`|
|---|---|---|---|
||||`22,266`|
||||`16,328`|
||||`30`|
||||`5,968`
`693,910`|
||||`699,878`|
```
The notes form part of these financial statements
```
```
Page 4
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`BALANCE SHEET 31 MARCH 2024`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`9`
`Investments`
`10`
**`CURRENT ASSETS`**
`Debtors`
`11`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`12`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`14`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`2024`
`£`
`13`
`404`
`417`
`15,755`
`764,434`
`780,189`
`(1,380)`
`778,809`
`779,226`
`779,226`
`768,282`
`10,944`
`779,226`|`2023`
`£`
`25`
`252`|
|---|---|---|
|||`277`
`11,256`
`689,605`|
|||`700,861`
`(1,260)`|
|||`699,601`|
|||`699,878`|
|||`699,878`|
|||`687,901`
`11,977`|
|||`699,878`|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon20November2024 and
were signed on its behalf by:
```
```
P St John Jacobs - Trustee
```
```
T E Porteous - Trustee
```
```
The notes form part of these financial statements
```
```
Page 5
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicablein theUK andRepublicof Ireland'and the
CharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlement and
the amount of the obligationcan be measured reliably. Expenditureis accountedfor on an accruals basis and has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
## **`Tangible fixed assets`**
```
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
```
```
Plant and machinery- 25% on cost
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restricted funds can only be used for particularrestricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
```
## **`Donations under deeds of covenant`**
```
Donationsunder deeds of covenant,together with the associatedincome tax recovery, are recognised as income
when the donation is received.
```
## **`Revaluation of quoted investments`**
```
Quoted investments are included at their fair value at the balance sheet date.
```
```
continued...
```
```
Page 6
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`**
## **`2. DONATIONS AND LEGACIES`**
|`2024`
`£`
`Donations`
`17,899`
`Legacies`
`72,071`
`89,970`
**`3.`**
**`INVESTMENT INCOME`**
`2024`
`£`
`Interest received`
`19,112`
**`4.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct`
`Support`
`Costs (see`
`costs (see`
`note 5)`
`note 6)`
`£`
`£`
`Education and research into nature,`
`cause etc of diabetes, relief and`
`treatment for people suffering with`
`diabetes`
`28,216`
`1,670`
**`5.`**
**`DIRECT COSTS OF CHARITABLE ACTIVITIES`**
`2024`
`£`
`Sundries`
`60`
`Nurse training`
`1,748`
`Conference expenses`
`1,160`
`Bank charges`
`72`
`Support diabetic patient group`
`20,630`
`Podiatry conference`
`2,333`
`Bookkeeping`
`2,200`
`Depreciation`
`13`
`28,216`|`2023`
`£`
`15,851`
`-`|
|---|---|
||`15,851`|
||`2023`
`£`
`6,415`|
||`Totals`
`£`
`29,886`|
||`2023`
`£`
`-`
`-`
`3,582`
`78`
`8,950`
`585`
`1,800`
`13`|
||`15,008`|
```
continued...
```
```
Page 7
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`**
## **`6. SUPPORT COSTS`**
**----- Start of picture text -----**
Governance
costs
£
Education and research into nature, cause
etc of diabetes, relief and treatment for
people suffering with diabetes 1,670
Support costs, included in the above, are as follows:
Governance costs
2024 2023
Education
and
research
into
nature,
cause etc
of
diabetes,
relief Total
and activities
£ £
Independent examiners' remuneration 1,670 1,320
**----- End of picture text -----**
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
The charity remunerated the following trustees for providing bookkeeping services:
```
```
Mrs E Whittingstall £1,000 (2023 - £1,000)
Mrs T Porteous £800 (2023 - £800)
```
## **`Trustees' expenses`**
```
Duringtheyear,thecharityreimbursedthetrusteesexpensestotalling£4,330(2023-£1,023)incurred in
connection with the activities of the charity.
```
```
continued...
```
```
Page 8
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`**
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`12,350`
`Investment income`
`6,415`
**`Total`**
`18,765`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Education and research into nature, cause etc`
`of diabetes, relief and treatment for people`
`suffering with diabetes`
`12,746`
`Net gains on investments`
`30`
**`NET INCOME/(EXPENDITURE)`**
`6,049`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`681,852`
**`TOTAL FUNDS CARRIED FORWARD`**
`687,901`|`Restricted`
`funds`
`£`
`3,501`
`-`
`3,501`
`3,582`
`-`
`(81)`
`12,058`
`11,977`|`Total`
`funds`
`£`
`15,851`
`6,415`|
|---|---|---|
|||`22,266`|
|||`16,328`|
|||`30`|
|||`5,968`
`693,910`|
|||`699,878`|
```
continued...
```
```
Page 9
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`**
## **`9. TANGIBLE FIXED ASSETS`**
|`Freehold`
`Plant and`
`property`
`machinery`
`£`
`£`
**`COST`**
`At 1 April 2023`
`162,400`
`2,880`
`Disposals`
`-`
`(424)`
`At 31 March 2024`
`162,400`
`2,456`
**`DEPRECIATION`**
`At 1 April 2023`
`162,400`
`2,855`
`Charge for year`
`-`
`12`
`Eliminated on disposal`
`-`
`(424)`
`At 31 March 2024`
`162,400`
`2,443`
**`NET BOOK VALUE`**
`At 31 March 2024`
`-`
`13`
`At 31 March 2023`
`-`
`25`
**`10.`**
**`FIXED ASSET INVESTMENTS`**
`Shares in`
`group`
`Listed`
`undertakings`
`investments`
`£`
`£`
**`MARKET VALUE`**
`At 1 April 2023`
`1`
`251`
`Revaluations`
`-`
`152`
`At 31 March 2024`
`1`
`403`
**`NET BOOK VALUE`**
`At 31 March 2024`
`1`
`403`
`At 31 March 2023`
`1`
`251`|`Totals`
`£`
`165,280`
`(424)`
`164,856`
`165,255`
`12`
`(424)`
`164,843`
`13`
`25`
`Totals`
`£`
`252`
`152`
`404`
`404`
`252`|
|---|---|
|||
|||
|||
```
There were no investment assets outside the UK.
```
```
The historical cost of the fixed asset investments at the year end was £1 (2023 - £1).
```
```
continued...
```
```
Page 10
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Other debtors`
**`12.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`13.`**
**`ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
`Unrestricted`
`funds`
`£`
`Fixed assets`
`13`
`Investments`
`404`
`Current assets`
`769,245`
`Current liabilities`
`(1,380)`
`768,282`
**`14.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
`Practice nurse evening`
**`Restricted funds`**
`Nurse education`
`IOW diabetes and endocrinology`
`Peer counselling`
`Patient education`
`Website and newsletter`
`Diabetes centre`
`Foot service`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
`-`
`-`
`10,944`
`-`
`10,944`
`At 1.4.23`
`£`
`684,743`
`3,158`
`687,901`
`6,143`
`1,463`
`433`
`1,242`
`1,386`
`1,210`
`100`
`11,977`
`699,878`|`2024`
`£`
`15,755`
`2024`
`£`
`1,380`
`2024`
`Total`
`funds`
`£`
`13`
`404`
`780,189`
`(1,380)`
`779,226`
`Net`
`movement`
`in funds`
`£`
`80,381`
`-`
`80,381`
`(1,748)`
`640`
`-`
`-`
`-`
`75`
`-`
`(1,033)`
`79,348`|`2023`
`£`
`11,256`
`2023`
`£`
`1,260`
`2023`
`Total`
`funds`
`£`
`25`
`252`
`700,861`
`(1,260)`
`699,878`
`At`
`31.3.24`
`£`
`765,124`
`3,158`
`768,282`
`4,395`
`2,103`
`433`
`1,242`
`1,386`
`1,285`
`100`
`10,944`
`779,226`|`2023`
`£`
`11,256`|`2023`
`£`
`11,256`|
|---|---|---|---|---|---|
||||||`2023`
`£`
`1,260`|
```
continued...
```
```
Page 11
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`14. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Nurse education`
`IOW diabetes and endocrinology`
`Diabetes centre`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`107,207`
`-`
`1,800`
`75`
`1,875`
`109,082`|`Resources`
`expended`
`£`
`(26,978)`
`(1,748)`
`(1,160)`
`-`
`(2,908)`
`(29,886)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`152`
`80,381`
`-`
`(1,748)`
`-`
`640`
`-`
`75`
`-`
`(1,033)`
`152`
`79,348`|
|---|---|---|---|
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
`Practice nurse evening`
**`Restricted funds`**
`Nurse education`
`IOW diabetes and endocrinology`
`Peer counselling`
`Patient education`
`Website and newsletter`
`Diabetes centre`
`Foot service`
**`TOTAL FUNDS`**|`At 1.4.22`
`£`
`678,694`
`3,158`
`681,852`
`3,843`
`3,844`
`433`
`1,242`
`1,386`
`1,210`
`100`
`12,058`
`693,910`|`Net`
`movement`
`in funds`
`£`
`6,049`
`-`
`6,049`
`2,300`
`(2,381)`
`-`
`-`
`-`
`-`
`-`
`(81)`
`5,968`|`At`
`31.3.23`
`£`
`684,743`
`3,158`|
|---|---|---|---|
||||`687,901`
`6,143`
`1,463`
`433`
`1,242`
`1,386`
`1,210`
`100`|
||||`11,977`|
||||`699,878`|
```
continued...
```
```
Page 12
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`14. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Gains and`|`Gains and`|`Movement`|
|---|---|---|---|---|---|
||`resources`|`expended`|`losses`||`in funds`|
||`£`|`£`|`£`||`£`|
|**`Unrestricted funds`**||||||
|`General fund`|`18,765`|`(12,746)`|`30`||`6,049`|
|**`Restricted funds`**||||||
|`Nurse education`|`2,300`|`-`||`-`|`2,300`|
|`IOW diabetes and endocrinology`|`1,201`|`(3,582)`||`-`|`(2,381)`|
||`3,501`|`(3,582)`||`-`|`(81)`|
|**`TOTAL FUNDS`**|`22,266`|`(16,328)`|`30`||`5,968`|
```
The nurses education fund comprises of monies donated to further training of nurses at the centre.
```
```
The IOW diabetesand endocrinologyfund comprisesof monies donatedto enable doctorsand nurses to attend
major conferences which relate to the activities of the centre.
```
```
The peer counselling fund comprises of monies specifically to use for peer advisory meetings.
```
```
The patient education fund comprises of monies donated towards patient education.
```
```
Thewebsiteandnewsletterfundconsistsofagrantspecificallytosupporttheproductionofawebsite and
newsletter.
```
```
The diabetes centre fund comprises of monies specifically to use within the diabetes centre.
```
```
The foot service fund comprises of monies specifically to use for podiatry.
```
```
Thepracticenurseeveningfundcomprisesofmoniesdesignatedtouseforthehireofvenues,and other
associated costs, to hold update meetings with the nurses.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 March 2024.
```
```
continued...
```
```
Page 13
```
```
ISLE OF WIGHT DIABETIC FUND
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
```
## **`16. SUBSIDIARY UNDERTAKING`**
```
The charityowns 100% of the issued share capitalof The Isle of Wight DiabeticFund Trading Company Limited, a
companyincorporatedin Englandand Wales. The companytradesin supportof the Isle of Wight Diabetic Fund.
The netassetsof thecompanyattheyearendamountedto £56,943,(2023- £55,903),profitandloss reserves
amounted to £56,942,(2023 - £55,902) and the share capital amounted to £1 (2023 - £1) representing1 ordinary
shareof£1each.Itsturnoverandprofitbeforetaxfortheyearthenendedamountedto£40,593,(2023 -
£36,450)and£17,060(2023-£11,341)respectively,ofwhich£15,925,(2023-£11,086)wasdonatedto the
charity.
```
```
Page 14
```
```
ISLE OF WIGHT DIABETIC FUND
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`**
|`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`16,024`
`1,875`
`Legacies`
`72,071`
`-`
`88,095`
`1,875`
**`Investment income`**
`Interest received`
`19,112`
`-`
**`Total incoming resources`**
`107,207`
`1,875`
**`EXPENDITURE`**
**`Charitable activities`**
`Sundries`
`60`
`-`
`Nurse training`
`-`
`1,748`
`Conference expenses`
`-`
`1,160`
`Bank charges`
`72`
`-`
`Support diabetic patient group`
`20,630`
`-`
`Podiatry conference`
`2,333`
`-`
`Bookkeeping`
`2,200`
`-`
`Depreciation of tangible fixed assets`
`13`
`-`
`25,308`
`2,908`
**`Support costs`**
**`Governance costs`**
`Independent examiners' remuneration`
`1,670`
`-`
`Total resources expended`
`26,978`
`2,908`
**`Net income`**
`80,229`
`(1,033)`|`2024`
`Total`
`funds`
`£`
`17,899`
`72,071`
`89,970`
`19,112`
`109,082`
`60`
`1,748`
`1,160`
`72`
`20,630`
`2,333`
`2,200`
`13`
`28,216`
`1,670`
`29,886`
`79,196`|`2023`
`Total`
`funds`
`£`
`15,851`
`-`|
|---|---|---|
|||`15,851`
`6,415`|
|||`22,266`
`-`
`-`
`3,582`
`78`
`8,950`
`585`
`1,800`
`13`|
|||`15,008`
`1,320`|
|||`16,328`|
|||`5,938`|
```
This page does not form part of the statutory financial statements
```
```
Page 15
```