Charity reglstrdtion numbér 307257 (England and Walos) QUEEN MARYS COLLEGE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
QUEEN MARY'S COLLEGE FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trustees T S Jackson (Chaian} R IA Knapman M A Lane (Treasurer) B V Link13ter G Tomblin K G Chapman M.B.E. A Smith S Ramgrd SBye L Bone (Appointed 17 January 2024) (Appointed 10 April 20241 (Resigned 31 October 2024) rk J blockdale Charity number 307257 Prlnclpal address cjo Queen Mary5 College Cliddesden Road Basingsloke Hampshire RG21 3HF Independont examinor Alliotts LLP 3 London Square Cross Lanes Guildtord GU1 1UJ Bankars CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 Investment advisor Beaufort Financial Middle Bam Bryants Fam Dunsden Reading RG4 9PB
QUEEN MARY'S COLLEGE FOUNDATION CONTENTS Page Trustees, report Independent examinerfs report Stalemenl of finanGial adivities Balance sheet Notes to the finanual slatements 7-13
QUEEN MARY'S COLLEGE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees psent their annual ieport and financial ststements for the year ended 31 Dernber 2024. The financial siatements have been prepared in accordance wrth Ihe a¢untIng poliaes set out In note 1 lo the financial statements and compty wrth the foundation's Tru#t Deed the C.harilies Ad 2011 and "Atrfjunting 8nd Reporting by Charities.. Statcmcnt 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)" las amended for accounting periods commenang from 1 January 20161. Obiectives and aGlivitie¥ The Trustees confimi that they have refeffed to the Charity Commission's 9uidance on publi¢ benefft when reviewing the Foundation's aims and objectives. in planning fulure activities. and setting the grant making policy for the year. The Foundation furthers its charitable purposes for the public benefft through its grant-making policy. The prinapal activities of the Foundation continue to be the provision of grants for the furtherance of education, training and employment of students who are resident in the Borough of Basingsloke and Deane. or are attending, or who have for not less than one year attended, Queen Mary's Co5. Grants are awarded to students in accordance with the requirements of the Trust Deed and the Obje¢Xs of the Foundation. i.e. the furtherance of educan. training and employment. Students seeking financial assistance must complete an approved application fonn which is aTrways accompaniéd by ¢omprehensive guidelines. AppIltiOnS may be made directly. or with the aid of the student's educational establishment, via the online application kjcated on the Foundation websrte. The Twstees consider applications at their quartety meetings. The Foundation does rt undertake any fundraising aGtivitie5. The Tntstees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake. Achievements and perforniance The benefits of the Foundation'5 work are the education and training of students resident in the Borough of Basingstoke and Deane and alumni of Queen Mary's College. The Tmstees are pleased that the achievements and performance of the Foundation. as set out bekm. continue to demonstrate positsve progress. Individual grants are made lo sludenls wrth varying educational and vocational needs and this policy will continue for the foreseeable future. As predicted last year, there has been an increase in applications from individuals and the Trustees expect this dèmand to increase due lo the economic position in the UK. Support IX*ntinues for Students at both Queen •Aary's College and BasiThJstoke College of TechnoFogy who face financial hardship or require help with specific educational needs. This funding is administered by the Student Finance Department of each respective college on behalf of the Foundation. Any awards from this funding to individual full-lime students of the college. are made within the guidelines set by the Trustees. Grants have been made to individual students, residing within the Borough of Ba$ingsloke and Deane, who attend primarylsecondary school settings, appn1ceshlpS or other educational training courses. all where specific disadvantsge or support needs have been Mlentiffied.
QUEEN MARY'S COLLEGE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial revw The investments are held in three funds that havè been previously reLX)mmended by independent advisers. Following a full rewew by our Independenl finanaal adwsers in June 2024 it was recommended that the Foundation s811 onÈ of its investments ftinds and spread the 3vailable capital bètween the two remaining investment funds portfolios. This was completed in Juty 2024. The loundalion has a policy lo keep 12 months expenditure in hand. The cash held at December 2024 rellects this polivi and some of the surplus funds wÈrè invp..£tpd in July ?0?4 The InVemen1S nei¢J are always compliant wrth Ihe Cnantses Acl 2011 and have a mtx of income requirement and the need lo maintain capital. The perfomance of the investments is reviewed annualty by the Trnstees. All investment decisions are taken by the full board of Trustees and investments are only made in assets thal have been previousty recommended by professional adwsers It IS the policy of the Foundation that unrestricted funds whith have not been desTrgnated for a specifiG use should be maintained at a level equivalent to that of three to six month's expenditure. The Trustees consider that reserves of this level will ensure that, in the event of any signfftant drop in funding. they will be able to ensure continuity of the Foundation's current activities and similarly have ts.me to consider other means of raising funds should they need lo do so in the longer tenn. This level of selVeS has been maintained throughout the year. The balance held as unrestricted funds al 31 December 2024 was £1.693.752 {2023.. £1,614.5561. of which £38,159 12023.. £88.9451 is ragardod as freo resèrves (general funds), after allowing for fund¥ tièd up in fixed asset investments. Actual expenditure for the year was £55.663 (2023-. £36.3561. The current level of reserves IS therefore considered lo be suffiuenl to meet expendrture requirements. Consideration is being given to inveslino more cash in kjnger temi investm@nts_ The Trustees have assessed the major risks to which Ihe Foundalion is exposed, and are satisfied thal systems arè in plaee to mitigate exposure to the major risks. The trustees identrfy seven major risks.. Loss of investrnent income.. Ihis is covered by the investrnent policy and performance. Loss of key personnel.. there ara sufftient experienced trustees to prowde cover. Loss of Treasurer.. bank signatories have been expanded to Ver this risk Loss of key documents: evidence of relevant key documents ran be ascertained from more than one source. Loss of accounting rewrd5". the accounting records of the foundation are held on ihe Treasurer's computer system which is backed up daity onto the doud. Loss of clerk's records.. Historic paper-based documenlation lo June 2016 is Stored at Queen Mary's College From July 2016 hard copy signed Minutes. Trustee tjedarations & Constitulion81 amendments are stored at Clerks, residence. From Juty 2016 all documents, including historic digitally held data (retained to compty wrth Charities Commission, constitutional standards and Data Piotec"on Policy) are backed-up lo one external hard- drive held at Clerk's residence. From January 2024 all data { including all historic digital dala) is held within a secure Cloud storage account (Dropbox Inc.) This is subdivided into Clerks Working Documentation. Historic Data and a Trustees area. The Clerk retsins fuN access. the Treasurer secondary access. Breach of data". policies are in place to cover this risk.
QUEEN MARY'S COLLEGE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Sljuctyre, governance and management The p¢)wers of the foundation, which is unincorporated, are as set out in its Trust Deed dated 10 January 1955 as varied by schemes daled 4 August 1972, 20 March 2003 and 1 January 2015. The Foundation is governed by its truslees who meet four times a year. The Trustees who served during the year and up to the date of s*3natUfe of the finanaal statemerrts were.. T S Jackson (Chairman) S. Bamard (appoinled 17 January 2024) L Bone (resigned 31 Odober 2024) S. Bye (appointed 10 April 20241 K G Chapman M.B.E R l A Knapman M A Lane (Treasurer) B V Linklater A Smilh G Tomblin Up to len Foundatwjn Trustees are all c(Fopled by a resolulion of the Trustees for a period of four year5. New Trustees are introduced lo the work of the foundation with a personal o)ntact and an information pack. This contains comprehensive information about the Schemes, poliaes. recent minutes and administration. At the quarterly meetings. the Trustees examine the major strategic. business and Operat)nal risks whh the Foundation facts and confim that Sy5teffl5 have been established lo fflitigate our exposure to the siiajol iisK>. The day-lLdaY administration of grants and the processing and handling of 3p1¢a.0nS is delegated to the Clerk employed by the Trustees. IFai$ing as necessary wrth the college. TUStees' report was approved by the Board of Trustee5. M A Lano (Trnasurer) Dated: .
QUEEN MARY'S COLLEGE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QUEEN MARY'S COLLEGE FOUNDATION I report lo the Tnjstees on my examination of the financAal statements of Queen Mary's College Foundation (the Foundation) for the year ended 31 Dember 2024. Responsibilities and basis of rnport As the Trustees of the Foundation you ale responsible lor the piepaialton of the finanoal slalements in acwtdanGe with the requirements of the Chaiilies Act 2011. I report in respea of my examination of If Foundation's financial ststements carried out under se¢tion 145 of Ihe 2011 Act. In carrying out my examination I have foU¢yed all the applicable Directions given by the Charity ComMissn under section 145151{bl of the 2011 ACL Independent examinerfs ststement Your attention 15 drawn lo the fact Ihal the (*arity ha5 pwepaved the finanual Statements in accordance wllh the relevant version of the Statement of Recommended Practice applicable to charities preparing Iheif ffinancial slalÈm@ntg in acrxJrd3nc£ wrth the Finanrial RprKhrting .%lanrt8rd applirghle in the UK gnd Republic of Irèl2nd IFRS 1021 in preference lo the A¢wunting and Reporting by Charities.. Statement of Rewmmended Practice i??ued on 1 April 2005 which 15 referied to in the extant regulations but has now been wilhdiawn. l undeTStand that this has been done in order for the financial statements to provide a true and fair view in aCCtsrdan with UK Generally Accepted Accountin9 Practice. I have completed my examinalion. I confim) that no matters have come to my attention in connection with thè examination giwng me cause to believe Ihal in any material respecl.. accounting records were noi kepi In respeth ot ine Founaation as requirea Dy secDon 130 of me Ghants"es Act 2011. the financial statements do nol accord with those rerdS.. or the ffinancial statements do not compty with the applicable requirements o)nceming the fomi and contenl of financial statements set out in the Charities lACutS and Report51 Regulations 2008 other than any requiremenl that the financial stalements give a true and fair view. whickn is not a matter considered as part of an independenl examination. I have no o)ncems and have come across no other matters in connection wilh the examination lo which attention should be drawn in Ihis report in order lo enable a proper underslanding of the ffinancial slalements to be reached. AII,A LLP liotts LLP (Apr 28. 2025. 5'52pml Alliotts LLP 3 London Square Cross Lanes GuiSdford GU1 1UJ 28 Apr 2025 Date= ............................
QUEEN MARY'S COLLEGE FOUNDATION STATEMENT OF FINANCIALACTivrriES INGLUDING INCOME AND EXPENDITURE ACCOUNT FQR THE YEAR ENDED 31 DECEMBER 2024 Unrestri¢tsd Unrestricted funds funds gen¢ral investment 2024 2024 Totsl Unrestricted Unrnstri¢t•d funds nds general Investment 2023 2023 Total 2024 2023 Ineome froffl: Inveslments 45.518 45.518 52.926 52,926 Expenditure on- Raising funds Charitsble activities 1.539 4.039 51.624 1,314 1,314 35,042 51.624 35,042 Tol81 expenditure 54.124 1.539 55,663 35.042 1.314 Net gains on investments 11 89.341 89,341 62.766 62,766 Net in¢omel{expendiiure) (8,606) 87,802 79.196 17,884 61.452 79.336 Transfers betsveen funds {42,180) 42.180 Net movemant in funds (50.786) 129.982 79.196 17.884 61,452 79.336 Reconciliation of funds: Fund balances at 1 January 2024 88.945 1.525,611 1,614,556 71.1 1,464,159 1,535,220 Fund balances at 31 Decemb•r 2024 38.1 $9 1,655,593 1.693.752 88,945 1.525.611 1.614,556 The 51alement of finanual actiwties includes ali gains and k)sses recognised in the year. All income and expenditure derive from continuing activth'es.
QUEEN MARY'S COLLEGE FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notss Fixed assets Investments 13 1,655,593 1.525.611 Current as8¢ts Debtors Cash at bank and in hand 14 316 39.403 90,385 39.719 90.385 Creditorn: amounts falling due within one year 15 (1.560) {1.440) Net current assets 38.159 88,945 Total assets less current Ilabllltles 1,693,752 1.614,556 The ndS of the Foundation Unrestricted fijnds - general Unrestricted funds - investment 38,159 1,655.593 88,945 1.525.611 1.693.752 1.614.556 13 The financial ststements were approved by the Trustees on ......................... T S Jackson Ichaimianl
QUEEN MARY'S COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng poli¢1 Charity inforniation Queen Mary's College Foundation is an unino)rporated trust registered wtth the Charity Commission (No. 30725n. The principal Offi is clo Queen Marfs College. Cliddesden Road. Basingstoke, Hampshire. RG21 3HF. 1.1 Accounting convents.on The financial statements have been prepared in accordance with the Foundalion's goveming dOrnent, the Charities Act 2011, FRS 102 -The Finanaal Reporting Standard applicable in the UK and Republic of Iland. rFRS 102.1 and the Charities SORP 'AuntIng and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 1021" (effeclive 1 January 2019). The Foundation is a Public Benefft Enlty as defined by FRS 102. The Foundation has tsken advantage of the provisions in the SORP for charibes not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currenry of the Foundation. Monetary amounts in these ffinancial statements are rounded to the nearest £. The finanrjal slalements have been prepared under the historal cost convention. modified to indude investments at fair value. The prin¢ipal accounting policies adopted are sel out below. 1.2 Charitable fund¥ Unrestricted funds are available for use al the discretion of the Tnjstees in furtherance of their charitable objectives unle88 the funds hava boan designatèd for other purposes. The general fvnd. after payment of any expenses of administration. shall be applied by the Foundation Tru¥lees foi the beneffit of anyone who, in opinion of the Found•tion Tru3tees. is in need of finantyal assistsnce In the furtheran of edUtion, Iraiiiiiig aiid empyment. and either." 13 resident in the Borough of Basin98toke and Daana, or is attending. or has for not less than one year attended, Queen Mary's School. or Queen Mary's College. The Foundation Trustees may also apply such yoaty sum# as they think fft, being not more than one third of the net income of the general fund, in providing such Special beneffts of any kind not nomalty provided by the trustees of Oueen Mary's College for Queen Mary's College as the Foundation Trustees may determine. The investment fvnd represents the carrying value of the investments held by the Foundation. Restricled funds are subjecl to specific Djndrtions by donors as lo how they may be used. The purposes and uses of the Testricled funds are set oui in the note5 to Ihe accounts. Endowment funds are subject to specrfK condrtions by donors that the caprtal must be maintained by the Foundation. 1.3 Income Income is recognised when the FOundan is legally entstled to il after any performance gjnditions have been met. the amounts can be measured relbty, il is pmbabbe that income will be rocoived.
QUEEN MARY'S COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Cash donations are re(xJgnised on reipl. Other donatinns grp. r9vgniS9d On the Foundation has been notified of the donation, unless perfoman¢e condrlions require deferral of the amount. Income lax recoverable in relation 10 donations recewed under Grfl Aid or deeds of enant is reo)gnised al the ts'me of the donation. Legae5 are recognised on receipt or otheprtise rf the Foundation has been nobfied of an impending distribution, the amouni is known. and re¢eipi is expetsd. If ihe amount is not known, ihe tyacy is ireated as a contingent asset. 1.4 Expenditure Expenditure 18 recogni8ed once there 18 a gaI or con8tructNe obligation to make a payment lo a third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The cosls of raising funds consist of investment managemenl fees and certain legal fees. as well costs incurred lo maintain the investment propety- Grants payable are payments made to third parties in the furtheran of the charitable objects of the Foundation. In the case of an unconditional grant offer this is accrued once the recipient has been nolffied of the grant award. The notrficalion gives the reapienl a reasonable expectalion that they will receive the one- year or MUltyear grant. Grants awards that are subject lo the recipient fvlfilling performance conditions are only accrued when the reupienl has been notified of th8 grant and any remaining unfuffilled condition attaching to Ihal grant is outSKle of Ihe control of the Foundation. G0veMan sts ¢ompri3e amounts payable for the administration of the Foundation. All support costs are allocated to the Foundation's onty charitable activty. Irrecoverable VAT is charged againsl the expenditure heading for which tt was incurred. 1.5 Fix•d a8s•t investments Fixed asset investments are initially rneasured at transaction price excluding transaction costs. and are subsequentty megsurp.d at fair value at each reporting dale. Changes in fair value are regnised in net incomel(expenditure} for the year. Transadion costs are expensed as incurred. 1.6 Cash and cash equivahnts Cash ana cash equlvalents indude tash in hand, deposits held at Gall with bank¥, other 3hort-temi liquid investments with origingl malurrlies of three months or less. and bank overdrafts. Bank ovèrdrafts are shown within borrowings in current liabrtIeS. 1.7 Financial instruments The Foundalion has eleded lo appty Ihe prov¢sions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its finan(aal instruments. Flnancial insliuments are reGognised in the Foundalion's balance sheet when the Found¥tion b8cnmes party to the contractual provisions of Ihe instrument. Financial assels and liabililies are offsat. with the net amrtunts presented in the financial stalemenls. when there is a legalty enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liabilrty simulianeously.
QUEEN MARY'S COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poli¢1 (Continuod) Basic financial assets Basic finanal assets. which indude debtors and cash and bank balances, are initialty measured at transaction price including transaction costs and a subsequentty [ried at afflortise¢J wsl using the effective interest method unless the arrangement consttlutes a finanung transacaion. where the transactNJn is measured at the present value of the future re¢eipls di$(Unted at a market rate of interest. Financial assels classified as I1vable within one year not amortised. Basic financial liabilities Basic finanaal liabilities. induding edItorS and bank loans are inrtialty recognised ai transa¢lion price unless the arrangement constilules a finanong transaction. where the debt instrument is measured at the pr8senl value of the future payments dis¢ounted at a market rale of intcrcst. Financial liabilities das$tfied a3 payable within one year ale nol amortised. Debt inslwments are subsequenty tsrried at amortised c05t. using the effective interest rate method. Trade creditors are obligations to pay for gdS or semces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassrfied as current liabilrties rf payment is due within one year or less. If not, they are presented as non-currenl liabilib"es. Trade creditors are r@cognised initialty at tran59Ction price and subsequently measured at amorti¥ed ¢X*¥t using the effe¢tive intere31 method. Dere¢ogniti"on of finaneial liablllties Financial liabilities are derecognised when the Foundation's contractual obligations expire or are discharged or eancelled. Crili¢al accounting ostimatss and judgements In the application of the Foundation's accounting policies. the Trustees are required lo make judgements, estimates 8nd assumptions 3boiJt the rgrying amount Df a$sÈts and liabiif(ies that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien¢e and other factors that are considered to be relevant. Actual resutts may differ from these estimates. The estimates and undertying assumptnS are reviewed on an ongoing basis. Revisions lo accounting estimates are reGognised in the period in which the estimate is revtsed where the revision affects only that period, or in the period of the revision and future periods where the revision affecls both current and future periods. Valuation of investrnents A key accounting estimate is the value al Wh trustees rectsjnise investrnenls. The risk of misstatement of listed investments is mitigated by the use of investment managers who publish a portfolio ¥aallon. Listed investments are valued by reference to Iheii market value prevailing al Ihe balance sheet date. Income from inveslmonts Unrestrictsd Unrestri¢tsd funds funds 2024 2023 Income from listed investments Interest elable 44.293 1.225 51,833 1,093 52.926
QUEEN MARY'S COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds Unrestrictsd Unrestricted funds funds general invesknent 2024 2024 Total Unrestrictad Unrestrictèd fund$ fund¥ general inveslment 2023 2023 Total 2024 2023 Costs relating lo investnient management 1.539 4,039 1.314 1,314 Expenditure on charitable activilies Total 2024 Total 2023 Direct costs Grant funding ol activities (see note 6) 45,875 29,742 Share of support and goveman¢e costs (see note n Support Govemance 281 5.019 5,465 51,624 35.042 Analysis by fund Unrestricled fvnds- general 51,624 35,IM2 Grants payable Total 2024 Total 2023 Grants to inslTlutions'. Queen Mary's College Basingstoke College of Technok>gy Educational Support Fund Queen Mary's College Educational Support Fund 23,905 6,000 6,OiJ) 9,045 35,905 21.()45 Grants to individuals 9,970 8,697 45,875 29,742 10-
QUEEN MARY'S COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activitiès Total 2024 Total 2023 Sundry 285 5,465 281 5,019 Goveman 2024 2023 Gov•manc• costs compris•: Staff costs Audit fees ClerKs expenses 3,672 1,560 233 3,482 137 5,465 5.019 Net movement in funds 2024 2023 The net movement in funds is slated after thargingl(uediting): Fees payable for the independent examination of the charity's financial statements 1,560 1.400 Trustses None of the Trustees (or any persons conneed with them) received any remuneration or beneffts from the Foundation during the year. 10 Employees The average Month number of emph)yees during the year was: 2024 Number 2023 Number Employmont Costs 2024 2023 Wages and salarie5 3,672 3,482 There were no employees whose annual MUneration was more Ihan £60.000. 11
QUEEN MARfs COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR TME YEAR ENDED 31 DECEMBER 2024 11 Gains and losses on invostmènts Unrestrictod Unrestrictod funds funds investment inveslrnent 2024 2023 Gainsl{losses) arising on.. Revaluation of investments Sale of investments 66,981 22,360 61,979 787 89,341 62,766 12 Taxation The charity is exempt from taxation on its aclNitses be¢ause all its income is applied for charitable purposes. 13 Fixed auet investments Unli8tèd investrnents Cost or valuation Al 1 January 2024 Add¢lions Valuation changes Management lees Disposals 1,525,611 388,000 89,341 (1,5391 (345,8201 At 31 December 2024 1.655,593 Carrying amount At 31 December 2024 1,655,593 At 31 December 2023 1,525,611 14 Debtorn 2024 2023 Amounts falling due within one y•ar. Prepaymenls and amed incomo 316 15 Creditors: amounts falling due wilhln one yo•r 2024 2023 Accruals and defrrred income 1,560 1,440 12-
QUEEN MARYS COLLEGE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Analysis of not a$$ots bfjtw•en funds Unrmtrictod Unr•strictsd funds funds general investment 2024 2024 Total 2024 At 31 Decofflber 2024: Investments Current asselsllliabilities) 1.655.593 1.655,593 38,159 38,159 38,159 1.655,593 1,693,752 Unrnstriet•d Unrnstri¢t•d funds funds general invesknent 2023 Totsl 2023 2023 Al 31 December 2023: Investments Current assetsllliabilrties) 1.525.611 1.525,611 88,945 88.945 88.945 1,525,611 1.614,556 17 Related party transacllons There were no disdosable related party transactions during the year (2023-£nil). 13-