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2023-07-31-accounts

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Seale Hayne Educational Trust Trustees’ Report and Financial Statements for the year ended 31 July 2023

Charity number: 306613

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_ Seale Hayne Educational Trust

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Contents

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||||||| |---|---|---|---|---|---| |Page| |Legal and|administrative|information|1| |Trustees|report|2-6| |Independent examiners’|report|7| |Statement|of financial|activities|8| |Balance|sheet|9| |Notes|to|the|financial|statements|10-15| |Detailed|Statement of Financial|Activities|16|

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. Seale Hayne Educational Trust

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Legal and administrative information

Charity number 306613
Registered Office University ofPlymouth
Emdeck Building
Plymouth
Devon
PL48AA
Secretary ProfessorM Fuller
Trustees nominated ProfessorT Knowles — appointed 1 January 2023
By University ofPlymouth — Professor J Roberts
Trustees Co-opted DrP LeGrice
DrA Jellings (Chair)
SirH Studholme
Mr M Pearson - retired 31 December 2022
Accountants WillsAccountants Limited
2 Endeavour House
Parkway Court
LongbridgeRoad
Plymouth
PL6 8LR
Bankers HSBCBankPLC
4 Old Town Street
Plymouth
PL1 1DD
Solicitors OsborneClarke
2Temple Back East
Temple Quay
Bristol
BS16EG

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Page 1

. | Seale Hayne Educational Trust . Report of the Trustees

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The trustees present their report and the financial statements for the year ended 31 July 2023. The trustees who served during the year and up to the date of this report are set out on page 1. Structure, governance and management

Governing document

The Seale Hayne Educational Trust (“the Trust’) was approved by the Charity Commission on the 20 October 1999 and is a registered charity, number 306613. The scheme supersedes that previously known as the Seale Hayne College Trust which continued to operate until the new scheme came into force. The Seale Hayne College Trust was, until 19 October 1999, incorporated into the University of Plymouth Financial Statements.

An agreement was approved by the Charity Commission allowing the sale of the Seale Hayne Estate and other assets (excluding liquid investments) of the Seale Hayne College Trust to the University of Plymouth. The purchase price was converted into a 10 year loan back to the University by the Trust. This loan has been repaid in full.

Appointment of trustees There are two nominated Trustees appointed by the Board of Governors of the University of Plymouth for a period of three years. In addition there are three co-opted Trustees, who are appointed by the other Trustees. Co-opted Trustees must be independent of the University of Plymouth and are appointed for a term of three years. The names of the Trustees are shown on page 1. The Trustees do not have a personal interest in the Trust although they may be entitled to reimbursement of reasonable expenses related to duties performed as Trustees but do not receive remuneration for their services as trustees. They may not havea financial interest in the supply of goods and services to the Trust other than in their capacity as employee of or consultant to the University. The Trustees are required to hold two ordinary meetings in each financial year.

Trustee induction and training

Any new Trustees will be inducted and trained appropriately which would ensure that they were aware of the objectives and activities of the Trust.

Organisation While the Trustees are responsible for the administration of the Trust, the University of Plymouth assumes day to day management and investment of assets on behalf of the Trustees. The Trustees may seek external professional advice if necessary. Risk Management The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate the Trust's exposure to the major risks.

The main risk relates to the investment returns. There has been sufficient growth in the value of the investment fund in recent years to withstand any short-term losses on the fund.

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. _ Seale Hayne Educational Trust . Report of the Trustees

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Objectives and activities

The Trust's income may be applied within the Trustees discretion for:-

The objects of the Trust:

The activities are governed by the ‘Subject’, which is defined in the Trust Scheme as ‘the art, science and technology of agriculture, food and land use and of disciplines supporting agriculture, food and land use or such other arts, sciences and branches of technology as the Trustees may determine.’

Public benefit statement

Under the Charities Act 2011 the trust is required to report on how they have delivered their charitable purposes for public benefit. There are two key principles and seven supporting principles of public benefit to be followed by all charities. The Trust has had regard to the Charity Commissions guidance on public benefit and a summary of how this has been achieved is provided below.

The Trust makes a number of awards each year to encourage valuable applied research in the areas of the art, science and technology of agriculture, food and land use and of disciplines supporting agriculture, food and land use or such other arts, sciences and branches of technology. It is particularly concerned to provide ‘pumppriming’ awards to help applicants, often lacking the experience and confidence to apply to research councils . andand similaractivities bodies,and has to establishbeen of considerable new researchbenefit programmes. to rural Theindustry, Trust’ssociety workand is inenvironment accordance withsinceitsits objectivesinception in 1999. The Trust also makes a number of awards to assist promising students in adding value to their educational programmes by attending conferences, or undertaking field study which they would not otherwise be able to afford. The origins of the Trust lie in the Seale Hayne College, which was one of the institutions that merged to form the current University of Plymouth. It has therefore been considered appropriate to include staff and students of the University of Plymouth as potential applicants for funding. This is specified in the Trust Scheme sealed on 20 October 1999 and reviewed every 10 years by the Trustees. University of Plymouth students extends to include the students of the majority of the further education Colleges in the South West of England. The University has a balanced and diverse student population from a variety of backgrounds and experiences and enjoys the educational and cuitural benefits that this brings. Potential students are able to apply to the University regardless of geographical location, background and financial standing for a wide range of courses and programmes. The University has a well-established programme of outreach activities designed to raise levels of attainment, aspirations and applications among under-represented groups. The Trustees have reviewed the objects, scope and beneficiaries of the Trust and are satisfied that the existing arrangements are suited to the Trust’s objectives.

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. _ Seale Hayne Educational Trust , Report of the Trustees Achievements and performance

Application criteria During the year the Trust published a statement of its objectives and invited applications for funding. Activities that are funded are categorised between strategic, short term and other. The Trustees will continue to encourage future applications while maintaining a critical review process to ensure that the successful applicants meet with the Trust's objectives. The Trustees are keen to support researchers, particularly in the areas of agriculture, food and land use, who are unable to secure funds elsewhere. From 2002/2003 to the current year, the Trust has awarded funding of £962,949 in accordance with charitable objectives. Grant Applications At the meeting on 16 May 2023 grant applications were considered and the Trustees approved 6 (2022: 7) grants totalling £51,385 (2022: £56,815) out of a total of 10 (2022:14) applications. In addition to this the Trustees approved £3,100 (2022: £2,600) in contribution towards AgriFood Charities Partnership research projects, which results in a total grant awards paid of £54,485 (2022: £59,415).Of the total grants paid, £10,942 has been refunded to the Trust in the year ended 31 July 2023 relating to the underspend of grants made in the years to 31 July 2018 to 31 July 2022 (2022: £4,556). Grants were approved by the Trustees for the following projects:-

Financial review Overall performance in year Income from listed investments was £55,583 (2022: £55,312) and income from bank interest was £184 (2022: £16). Unrestricted reserves carried forward are £13,254 (2022: £7,358) and restricted reserves carried forward are £1,935,914 (2022: £1,974,928).

Investment Policy and Performance

In accordance with the Trust Deed, the Trustees have the power to invest in such stocks, shares, and investments as they see fit. The trustees are mindful that investments should not be made that conflict with the trusts objectives and to this end ensure that a suitable fund is used with established and transparent ethical criteria. The Trustees review these investments annually and the investment policy is reviewed every five years. The Trustees engage a single fund manager, CCLA Investment Management Limited. Investments are held in COIF Charity Funds and CCLA offer a balanced fund, which includes UK and overseas equities, loans, property and bonds. The annual management charge for the Investment Fund is 0.6% and is charged to the Fund and deducted from the capital, this therefore does not impact on the annual dividends that the trust receives. The policy is to adopt low risk investments using the Retail and Consumer Price Indicies as a minimum benchmark for capital growth. The investments should also maintain income while preserving the real value of the endowed investments.

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. Seale Hayne Educational Trust . Report of the Trustees During 2017/18, the trustees agreed to adopt Total Return Accounting to be effective from ist August 2018, and this was first utilised in 2019/20. This approach enables the trustees to consider all investment returns when deciding how much to pay out as grants to successful applicants and therefore potentially able to increase grants in years where the total return allows. The trustees are responsible for ensuring that a proportion of the investment income and gains each year, at least equal to inflation, is applied to the restricted reserves, and it is recommended that the amount applied is greater than inflation to build up a buffer against adverse market events. The original capital investment of £850,000 was worth £1,434,523 in real terms at 31 December 2022 and therefore the maximum additional total return that could be expended during 2022/23 was £540,405, based on the July 2022 valuation. During the year the trustees agreed to utilise Enil (2021/22: £9,800) of these funds to award additional grants. The cumulative total of total returns utilised since 2019/20 is £32,100. Utilisation of total returns requires units to be sold from the Investment fund to the same value. No units were sold during 2022/23. The Trust also obtains a small amount of interest from short term funds held in a bank deposit account. Reserves Policy and use of Income and Capital The unrestricted funds held by the Trust represent those assets not held in fixed assets. The Trust Deed does not specify a minimum level of unrestricted funds, however the trustees have agreed that an amount should be held to ensure that the Trust can manage any unexpected spend. The Trustees have committed most of the balance to grant awards. The restricted funds are the Seale Hayne Educational Trust Endowment Fund represented by those assets which must be held permanently by the Trust and principally comprises the fixed asset investments. Income from the endowment fund can be used in accordance with the objectives of the Trust. The Trustees use of income and capital is determined by the trust deed. This states that they must first apply the Trust's income, then if they think fit, expendable endowment, and when expenditure can properly be charged to it, its permanent endowment in meeting the proper costs of administering the Trust. After payment of these costs they may apply the funds in accordance with the objectives of the Trust.

Going Concern The Trustees are of the opinion that the Trust has adequate resources to continue for the foreseeable future. The Trustees have considered the impact of a period of high inflation and rising interest rates, and believe any increased costs will be minimal and mitigated by increases in investment returns. The financial statements are therefore prepared on a going concern basis.

Future Plans

The Trust has reviewed its governing document which was previously sealed on 20 October 1999 and decided that the objectives, which may be amended after 10 years, did not need to be changed. The trustees will continue to pay the maximum amount of grants each year to deserving applicants and will sell investment units as per the total return accounting approach which considers all investment returns, to enable this to be fulfilled. The level of unrestricted funds will therefore be kept at a minimal level whilst ensuring the trust can meet its liabilities in order to ensure researchers are supported, particularly in the areas of agriculture, food and land use.

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. Report of the Trustees

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Statement of trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Annual 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 & 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 period. In preparing these financial statements the trustees are required to:

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The trustees are responsible for keeping proper accounting records which 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 requirements of the Charities Act 2011 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.

The trustees recommend that Wills Accountants Ltd remain in office until further notice subject to annual review.

On behalf of the Trustees

Dr A Jellings Dated: 14 November 2023 Chair

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. _ Seale Hayne Educational Trust

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Independent examiner's report to the trustees on the unaudited financial statements of Seale Hayne Educational Trust.

| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2023 which are set out on pages 2 to 16.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

| 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 accounts to be reached.

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Wills Accountants Limited

Independent Examiner Chartered Certified Accountants 2 Endeavour House

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Parkway Court Longbridge Road PlymouthPL6 8LR Dated:...... 2.{L] OO4 | 'ae

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||||||||| |---|---|---|---|---|---|---| |Seale Hayne Educational Trust|||||||| |Statement of Financial Activities||||||| |forthe yearended 31 July 2023|||||||| |||Unrestricted|Restricted|2023|2022|| ||Notes|funds
£|funds
£|Total
£|Total
£||| |Incomefrom:
Charitable activities|2|10,942|-|10,942|4,556||| |Investments|3|55,767|-|55,767|55,328||| |Total||66,709|-|66,709|59,684|| |Expenditureon:|||||||| |Charitable activities|4|60,813|-|60,813|65,417||| |Total||60,813|-|60,813|65,417||| |Net(expenditure)/income||5,896|-|5,896|(5,533)||| ||||||||| ||||||||| |Net(loss)/gain oninvestments|6|-|(39,014)|(39,014)|(22,409)||| |Netmovement infunds||5,896|(39,014)|(33,118)|(27,942)||| ||||||||| |Reconciliation of funds:||||||| ||||||||| |Total funds broughtforward||7,358|1,974,928|1,982,286|2,010,228||| |Transferbetween funds|10|-|-|-|-||| |Total funds carried forward||13,254|1,935,914|1,949,168|1,982,286||| ||||||||| |Thenotesonpages10to16form anintegralpartofthesefinancialstatements|||statements||||| |||||||| |||Page8|||w
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Seale Hayne Educational Trust

Statement of Financial Activities for the year ended 31 July 2023

The notes on pages 10 to 16 form an integral part of these financial statements

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Balance sheet as at 31 July 2023

Notes 2023
£		 2022
£
Fixed Assets
Investments 7 1,935,914 1,974,928
CurrentAssets
Debtors
Cash at bank and in hand		 8 8,159
11,039
19,198		 -
13,060
13,060.
Creditors:amounts
falling due within one
year 9 (5,944) (5,702)
Net Current Assets 13,254 7,358
NetAssets 10 1,949,168 1,982,286
Funds
Restricted income funds 12/13 1,935,914 1,974,928
Unrestricted income funds 11 13,254 7,358
Totalfunds 1,949,168 1,982,286

The financial statements were approved by the Trustees on 14 November 2023 and signed on its behalf by

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Dr A Jellings Chair

The notes on pages 10 to 16 form an integral part of these financial statements

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- Seale Hayne Educational Trust Notes to financial statements for the year ended 31 July 2023

  1. Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Basis of accounting The financial statements are prepared under the historical cost convention, except for investments which are included at market value, and in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. The functional currency of the Trust is Pounds Sterling, the currency of the United Kingdom the primary economic environment the Trust operates in. The Financial Statements are also presented in Pounds Sterling.

Going Concern The trustees have a reasonable expectation that the Trust has adequate resources to continue to operate for the foreseeable future. The Trust prepares a forecast on an annual basis. The going concern nature of the Trust has been considered for a period of greater than 24 months from the date of approval of the Financial Statements. The Trust is satisfied that it can meet its day to day working capital needs out of cash and liquid investments. The trustees are not aware of any material uncertainties which would prevent the Trust from continuing as a going concern. The statements are prepared on a going concern basis.

1.2. Income recognition All income is included in the statement of financial activities when the Trust is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: income from investments is included in the year in which it is receivable and the annual management charge of 0.6% is deducted from capital and does not impact on dividend income.

1.3. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.4. Investments

Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities. The gain or loss on disposal of investments held is determined by the market value of the shares as at the previous year end. The annual management charge for the Investment Fund is 0.6% and is charged to the Fund and deducted from the capital. The Trust has adopted the option to apply the recognition, measurement and disclosure requirements of sections 11 & 12 of FRS 102. Page 10

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’ Seale Hayne Educational Trust

1.6. Estimates and judgements

The preparation ofthe Financial statements requires judgements, estimates, and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities, income, and expenses. These judgements, estimates, and associated assumptions are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom equal the related actual results. Where required estimates and judgements are included in the narrative within the accounting policies and the notes to the financial statements.

2. Charitable income - by fund type

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Unrestricted 2023 2022
Funds Total Total
Grants repayable 10,942 10,942 4,556
2
10,942 10,942 4,556
I
3. Investment income
Unrestricted 2023 2022
Funds Tota! Total
Dividends on investments 55,583 55,583 55,312
Interest on cash deposits 184 184 16
55,767 55,767 55,328
4. Costs of charitable activities by fund type
Unrestricted 2023 2022
Funds Total Total
£ £ £
Grants payable 54,485 54,485 59,415
Trustees and Secretary expenses 84 84 -
Administration charge 5,194 5,194 4,994
Accountancy fees 750 750 708
Other expenses 300 300 300
60,813 60,813 65,417
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Other expenses mainly relate to a membership fee for the AgriFood Charities Partnership.

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Seale Hayne Educational Trust

Notes to financial statements for the year ended 31 July 2023

4.1. Grants payable

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Total| |E| |e|Enhancing|biodiversity|in|the Yealm|catchment|4,984| |e|Evaluation|of|paludiculture|on|the|Somerset|Levels and|Moors|10,518| |e|Yeast|functional|feed|additives|for|Atlantic|Salmon|4,950| |e|Understanding|microplastic|accumulation|in|saltmarsh|and|mudflat|habitats|8,722| |e|Is|naked|clam|aquaculture|possible?|14,335| |e|Animal|mounted|living|laboratory|7,876| |e|Agrifood|Charities|Partnership|Research|Project|3,100|

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54,485
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2021/22 grants payable were £59,415 and included £2,600 towards an AgriFood Charities Partnership research project.

5. Trustees’ and Trust secretary emoluments

The trust does not have employees. Trustees are not renumerated for their services, other than reimbursement of reasonable expenses. Expenses of £84 (2022: £nil) were reimbursed to the Secretary in the year in relation to a gift for the retiring Trustee.

6. Other recognised gains and losses

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|||||||||| |---|---|---|---|---|---|---|---|---| |Restricted|2023|2022| |Funds|Total|Total| |Realised|gain|on|sale|of|units|-|-|6,332| |Unrealised.investments(loss)/g(loss)/gain|on|valuation|of|Fixed|Asset|(39,014)|(39,014)|(28,741)| |(39,014|(39,014)|(22,409)| |Non-current investments| |2023|2022| |£|£| |Valuation|at|1|August|1,974,928|2,010,637| |Sale|of income|units|-|(13,300)| |Realised|gain|on|sale|of|units|-|6,332| |Revaluation as at 31|July (unrealised)|(39,014)|(28,741)| |Valuation|at 31|July|1,935,914|1,974,928| |Valuation|taken from|statement|provided|by|the fund|manager CCLA.|

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7. Non-current investments

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Seale Hayne Educational Trust

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Notes to financial statements for the year ended 31 July 2023

8. Debtors

Debtors
Debtors 2023 2022
Accrued income 8,159 _
a
8,159 -

The accrued income relates to amounts owed to the Trust in respect of unspent funds on grants awarded in previous years.

9. Creditors: amounts falling due within one year

2023 2022
Accruals 5,944
5,702
a
5,944 5,702

This includes £5,194 owing to the University of Plymouth for financial and administrative services provided (2022: £4,994).

10. Analysis of net assets between funds

10. AnalysisAnalysisof net assetsnet assetsassetsbetweenfunds
10. AnalysisAnalysis of net assetsnet assetsassets between funds Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fund balances at 31 July 2023
asrepresented by:
Fixed Asset investments
Current assets		 -
19,198		 1,935,914
-		 41,935,914
19,198
Current liabilities
Transferbetween funds		 (5,944)
-		 -
-		 (5,944)
-
13,254 1,935,914 4,949,168

The trustees agreed to release Enil (2022: £9,800) to unrestricted reserves during the year ended 31 July 2023 to fund grant applications.

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  • Seale Hayne Educational Trust

Notes to financial statements for the year ended 31 July 2023

11. Unrestricted funds At1August
2022		 At1August
2022		 At1August
2022		 Incoming
Resources		 Outgoing
Resources		 At31 July
2023
Unrestricted Funds 7,358 66,709 (60,813) 13,254
12. Restricted funds
At 1 August Incoming Outgoing At 31 July
2022 Resources Resources 2023
£ £ £ £
Restricted Funds 1,974,928 - (39,014) 1,935,914
13. Total return accounting summary Trust for Unapplied
Total		 Total
Endowment
investment Return Fund
£ £ £
At 1 August2022:
Gift component ofthe permanent
Unapplied total return		 endowment 850,000
-
850,000		 -
1,124,928
1,124,928		 850,000
1,124,928
1,974,928
Movements during the year:
Investment return: realisedgains
Investment return: unrealised losses		 -
-		 -
(39,014)		 -
(39,014)
- (39,014) (39,014)
Unapplied total return allocated to income during
the year - - -
Net movements in the year: - (39,014) (39,014)
At 31 July 2023:
Giftcomponentofpermanentendowment
Unapplied total return		 850,000
-		 -
1,085,914		 850,000
1,085,914
850,000 1,085,914 1,935,914
Unapplied total return represented by:
Cumulative gains equal to inflation*
Cumulative gainsabove inflation		 584,523
501,391
1,085,914

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Seale Hayne Educational Trust
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Notes to financial statements for the year ended 31 July 2023

42. Total return accounting summary(continued)

14. Related Parties

The University of Plymouth is deemed to be a related party of the Trust given the composition of the - Trustees and the objectives of the Trust. The University of Plymouth provides the administrative and finance function for the Trust that includes transactions with the Fund Manager. The following transactions took place:

Nature oftransaction 2023 2022
Grants paid by the Trust 51,385 56,815
Grantsrepaid totheTrust 10,942 4,556
AdministrationchargepayabletotheUniversity 5,194 4,994

The balance owed to the University at 31 July 2023 was £5,194 (2022: £4,994). The balance owed by the University was £8,159. No amounts were written off during either year or provided against at either year end.

During the grant awarding process, if a Trustee has a direct financial interest in any of the applications, they will declare this and stand down from the decision making process for the application.

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_* Seale Hayne Educational Trust

|Seale Hayne Educational TrustTrust||||||||| |---|---|---|---|---|---|---|---| |The following schedule is an intrinsic part of the accounts
Recommended Practice for Accounting and Reporting issued
&Wales, revised inJune 2019.||required to comply with the Statement of
by the Charity Commissioners for England|||||
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||| |||||||||| |DetailedStatementofFinancial Activities||||||||| |fortheyearended 31 July 2023|||2023|||2022||| |||£|£|£||£|| |Incoming resources
incoming resourcesfromgenerating funds:||||||||
|| |Investment income|||||||| |_|||||||| |Dividends on investments
Intereston cashdeposits|||§5,583
184||55,312
16|||| ||||55,767||55,328||| |Totalincoming resourcesfromgeneratingfunds|||55,767||55,328|||| |Total incoming resources|||55,767||55,328|||| |Resources expended
Costs ofgeneratingfunds
Fundraising trading||-
-||-
-||||
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|| |Costofgoods sold and othercosts||-||-||||| ||||.|||.|| |Charitable activities||||||||| |Grants payable||||||||| |Grant funding activities
Grants payable
Grants repayable||54,485
(10,942)||59,415
(4,556)||||| ||||43,543||54,859||| |Grantspayable totalexpenditure
Total charitable activityexpenditure
Governancecosts|||43,543
43,543||54,859
54,859||:
|
|| |Activities undertaken directly||||||||| |Trustees and secretary expenses
Administrationcharge
Accountancy fees
Otherexpenses||84
5,194
750
300||-
4,994
708
300||||
|| ||||6,328|||6,002|| |Totalgovernance costs|||6,328|||6,002||| |Net (outgoing)/incoming resources fortheyear|||5,896||(5,533)|||| |Total unrestricted funds broughtforward|||7,358|||3,091||| |Transferbetweenfunds|||-|||9,800||| |Totalunrestrictedfundscarriedforward|:
Page 16||13,254||7,3
|
|o||||

The following schedule is an intrinsic part of the accounts required to comply with the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England &Wales, revised in June 2019.