**Notes to the Financial Statements**
## **7 Trust Deed**
The powers of the Trustees are set out in a conveyance dated 31st December 1945.
## **8 Reserves**
|Balance at 1/11/2022
Movement (Depreciation)
Deficit for year
Balance at 31/10/2023|£
186,224
0
(8,060)
178,164
Unrestricted Funds|Restricted Funds
£
115,731
(7,068)
108,663|
|---|---|---|
## **9 Investments**
In December 2006 the Trustees agreed to invest a portion of the surplus funds in an investment fund run by Aegon (an investment firm regulated by the Financial Services Authority).
The Balance Sheet valuation is on a mark to market basis at the year end. The movement in the year is as follows:
|Value at the 1st November 2022
Gain/(Loss) for year on
investments from change in value
Value at the 31st October 2023|**2023**
**£**
130,601
**3,018**
**133,619**|**2022**
**£**
136,262|
|---|---|---|
|||**-5,661**|
||||
|||**130,601**|
Gains or losses on value during the year are taken to the Statement of Financial Activities.
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