Charity registration number: 309076
St Luke's Trust (Berkshire)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
St Luke's Trust (Berkshire)
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 19 |
St Luke's Trust (Berkshire)
Reference and Administrative Details
Trustees Dr S C Brown M A Webb Principal Office 5 Christchurch Gardens Reading Berkshire RG2 7AH Charity Registration Number 309076 Bankers Barclays Bank Plc Mid Thames Group Reading Berkshire Solicitors Gardner Leader White Hart House Wharf Street Newbury Berkshire RG14 5BA Independent Examiner UHY Ross Brooke Chartered Accountants and Registered Auditors 2 Old Bath Road Newbury Berkshire RG14 1QL
St Luke's Trust (Berkshire)
Trustees' Report
The trustees present the annual report together with the financial statements of the Charity for the year ended 31 March 2023.
Structure, governance and management
Nature of governing document
The Trust was established by a trust deed dated 1 May 1970 for charitable purposes based on the work of the late Dr Rudolf Steiner. The Trust is concerned with the advancement of the education of children and adults in need of special care, the education of children of average ability and biodynamic horticulture.
Trustees
The trustees in office are detailed on page 1.
Objectives and activities
Objects and aims
Steiner-Waldorf Education: The Trust aims to promote Steiner-Waldorf Education for children of average ability.
Values
The Trust aims to provide a warm, friendly and homely environment in which people can develop confidence in their ability to manage their lives. The trust looks to expand what it does for children of all backgrounds. Where possible, the Trust works using the values and insights of Rudolf Steiner
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
St Luke's Trust (Berkshire)
Trustees' Report
Preparation of financial statements
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply 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 102.
Achievements and performance
During the year planning permission was received for access to the new garden area behind 5 Christchurch Gardens. This meant work could go ahead to build the access and work could also go ahead to renovate the new garden area.
In March 2023 there were 50 families attending various parent and child sessions each week. In addition, soup supper sessions proved popular with families, particularly those with children who had moved on to school.
The Trust's two investment properties, Lyndale and Orchard Dene were both let at market rate rent throughout the year. We continue to let rooms on the first and second floors at Christchurch Gardens which generates income to pay off the mortgage debt incurred in purchasing the building and contribute towards the operating costs of the Early Years provision. The manager of the Early Years is also the caretaker for the building.
The aim of the Trust is to develop further its early years centre at Christchurch Gardens. Rose Garden Early Years Centre Ltd (A Community Interest Company) is a fully owned subsidiary of St Luke’s Trust (Berkshire). This structure is deemed the most suitable to implement the Trust’s aims in early years, maintaining overall control but also providing the service through a management structure dedicated to the early years work. The manager is also now a director of Rose Garden Early Years Centre CIC.
A corresponding change in the structure of St Luke’s Trust itself was the creation of a limited liability company to provide the Trusteeship of the Trust (St. Luke’s Trustee (Berkshire) Limited). The trustees of St Luke’s Trust remain the same but are now directors of the new trustee company. We sponsored our Early Years manager to do the Steiner-Waldorf Kindergarten Training, and this was completed in the summer of 2022.
In October 2022 we heard that our associated Charity, Alder Bridge Association for Steiner-Waldorf Education (ABASWE) might be entering Administration. This was surprising news as the Association members had neither been consulted nor informed of this decision.
St. Luke’s Trust wrote to the Trustees at the end of October 2022 setting out a proposal to avoid ABASWE going into administration and save Bridge House from being sold as the debts were only 10% of the value of the assets. Time was of the essence. Sadly the Trustees chose not to engage with St. Luke’s Trust until a meeting was held in March 2023. At this meeting the Trustees had no clear plan as to how to take this matter forward constructively and did not engage with us and our ideas for this.
Since then we have been working hard, making every effort to prevent the sale of Bridge House. These efforts are ongoing and we are trying to sell Lyndale to make a loan to ABASWE to bring it out of Administration so that Bridge House, part of the school site where we own the newer school building, is not lost. The loss of Bridge House is potentially damaging to St Luke’s Trust as we own the newer school building and it will compromise the viability of the site for a school.
Income during the year was £74,845 (2022: £88,182) and expenditure was £85,185 (2022: £57,147) meaning a deficit in the year of £10,340 (2022: surplus of £31.035).
Page 3
St Luke's Trust (Berkshire)
Trustees' Report
Fixed assets
Following the sale of Bridge House in 1998, the remaining buildings were restated in the accounts at 50% of their insured value. The land has been restated at the valuation of the Trustees. The surplus on revaluation is shown in the balance sheet as a revaluation reserve, and freehold buildings are depreciated at 2% per year.
The annual report was approved by the trustees of the Charity on 10 November 2023 and signed on its behalf by:
M A Webb Trustee
Page 4
St Luke's Trust (Berkshire)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
Approved by the trustees of the Charity on 10 November 2023 and signed on its behalf by:
M A Webb Trustee
Page 5
St Luke's Trust (Berkshire)
Independent Examiner's Report to the trustees of St Luke's Trust (Berkshire)
I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 19 .
Respective responsibilities of trustees and examiner
The Charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Independent examiner's statement
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:
(1) accounting records were not kept in respect of the charity 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.
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 accounts to be reached.
Dean Blunden BFP FCA
Chartered Accountants and Registered Auditors
2 Old Bath Road Newbury Berkshire RG14 1QL
13 November 2023
Page 6
St Luke's Trust (Berkshire)
Statement of Financial Activities for the Year Ended 31 March 2023
| Note Income and Endowments: Charitable activities 2 Investment income 3 Total Income Expenditure: Other expenditure 5 Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note Income and Endowments: Charitable activities 2 Investment income 3 Other income Total Income Expenditure: Other expenditure 5 Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 35,520 39,325 74,845 (85,185) (85,185) (10,340) 562,605 552,265 Unrestricted funds £ 33,720 39,475 14,987 88,182 (57,147) (57,147) 31,035 531,570 562,605 |
Total 2023 £ 35,520 39,325 |
|---|---|---|
| 74,845 | ||
| (85,185) | ||
| (85,185) | ||
| (10,340) 562,605 |
||
| 552,265 | ||
| Total 2022 £ 33,720 39,475 14,987 |
||
| 88,182 | ||
| (57,147) | ||
| (57,147) | ||
| 31,035 531,570 |
||
| 562,605 |
All of the Charity's activities derive from continuing operations during the above two periods.
Page 7
St Luke's Trust (Berkshire)
(Registration number: 309076) Balance Sheet as at 31 March 2023
| Note Fixed assets Tangible assets 8 Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current (liabilities)/assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 12 Net assets Funds of the Charity: Unrestricted income funds Unrestricted income funds Revaluation reserve Investment property revaluation reserve Total unrestricted funds 13 Total funds |
2023 £ 619,632 975,000 1,594,632 24,652 16,182 40,834 (64,824) (23,990) 1,570,642 (355,897) 1,214,745 552,265 45,897 616,583 1,214,745 1,214,745 |
2022 £ 625,781 865,000 |
|---|---|---|
| 1,490,781 | ||
| 37,590 38,522 |
||
| 76,112 (68,194) |
||
| 7,918 | ||
| 1,498,699 (383,614) |
||
| 1,115,085 | ||
| 562,605 45,897 506,583 |
||
| 1,115,085 | ||
| 1,115,085 |
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on 10 November 2023 and signed on their behalf by:
M A Webb Trustee
Page 8
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income and endowments
Donations and legacies
Donations are recognised where there is entitlement, certainty of receipts and the amount can be measured with sufficient reliability.
Investment income
Investment income is recognised on a receivable basis.
Charitable activities
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Expenditure
All expenditure is recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Freehold land and buildings are shown at the Trustees' valuation. Other fixed assets are initially recorded at cost.
Page 9
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Freehold property 2% on revalued amount Fixtures and equipment 20% reducing balance basis
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the Charity.
Page 10
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 11
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 12
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
Derivative financial instruments
The Charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The Charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Hedge accounting
The Charity designates certain derivatives as hedging instruments in cash flow hedges and fair value hedges.
At the inception of the hedge relationship, the entity documents the economic relationship between the hedging instrument and the hedged item, along with its risk management objectives and clear identification of the risk in the hedged item that is being hedged by the hedging instrument. Furthermore, at the inception of the hedge the charity determines and documents causes for hedge ineffectiveness.
Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss. Amounts previously recognised in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods in which the hedged item affects profit or loss or when the hedging relationship ends.
Hedge accounting is discontinued when the charity revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Any gain or loss accumulated in equity at that time is reclassified to profit or loss when the hedged item is recognised in profit or loss. When a forecast transaction is no longer expected to occur, any gain or loss that was recognised in other comprehensive income is reclassified immediately to profit or loss.
Fair value hedges
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item attributable to the hedged risk are recognised in the line related to the hedged item in profit or loss.
Hedge accounting is discontinued when the charity revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. The fair value adjustment to the carrying amount of the hedged item arising from the hedged risk is amortised to statement of financial activities from that date.
Page 13
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
2 Incoming resources from charitable activities
Unrestricted
| Unrestricted | |||||
|---|---|---|---|---|---|
| Rent receivable 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits Income from rents 4 Other income Income from trading subsidiary |
funds General £ 35,520 Unrestricted funds General £ 25 39,300 39,325 |
Total 2023 £ 35,520 Total 2023 £ 25 39,300 |
Total 2022 £ 33,720 Total 2022 £ 2 39,473 |
||
| 39,325 | 39,475 | ||||
| Total 2023 £ - |
Total 2022 £ 14,987 |
Page 14
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
5 Expenditure on charitable activities
| Rates Light, heat and power Insurance Repairs and maintenance Property repairs (Lyndale) Telephone and fax Trade subscriptions Sundry expenses Motor expenses Advertising Accountancy fees Legal and professional fees Legal & professional fees - Alder Bridge School Loan interest Depreciation of freehold property Depreciation of fixtures and fittings Donated to trading subsidiary Property repairs (Orchard Dene) |
Unrestricted funds General £ 3,259 5,656 4,404 10,202 371 541 184 1,599 - - 2,484 902 6,486 15,423 17,351 948 14,160 1,215 85,185 |
Total 2023 £ 3,259 5,656 4,404 10,202 371 541 184 1,599 - - 2,484 902 6,486 15,423 17,351 948 14,160 1,215 85,185 |
Total 2022 £ 3,152 3,668 2,841 8,603 50 437 195 1,346 371 149 2,730 1,189 534 10,593 16,908 1,186 3,000 195 |
|---|---|---|---|
| 57,147 |
6 Net incoming/outgoing resources
Net (outgoing)/incoming resources for the year include:
| Depreciation of fixed assets | 2023 £ 18,299 |
2022 £ 18,094 |
|---|---|---|
7 Taxation
The Charity is a registered charity and is therefore exempt from taxation.
Page 15
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
8 Tangible fixed assets
| Cost At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Freehold land and buildings £ 855,402 12,150 867,552 234,363 17,351 251,714 615,838 621,039 |
Furniture and equipment £ 19,877 - 19,877 15,135 948 16,083 3,794 4,742 |
Total £ 875,279 12,150 |
|---|---|---|---|
| 887,429 | |||
| 249,498 18,299 |
|||
| 267,797 | |||
| 619,632 | |||
| 625,781 |
Revaluation of fixed assets
Freehold property was revalued at 31 March 1998 at the trustees valuation. In the opinion of the trustees, the value of freehold property shown in the accounts is not in excess of their market value at 31 March 2023.
9 Fixed asset investments
| Investment properties | 2023 £ 975,000 |
2022 £ 865,000 |
|---|---|---|
Page 16
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
| Investment properties Valuation At 1 April 2022 Revaluation At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Investment properties £ 865,000 110,000 |
|---|---|
| 975,000 | |
| 975,000 | |
| 865,000 |
The investment properties values were valued by the trustees as at 31 March 2023 at their estimated market value.
The last independent valuation took place on 31 March 2021. The properties were valued at £865,000 at that time.
Page 17
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
10 Debtors
| Prepayments and accrued income Other debtors 11 Creditors: amounts falling due within one year Bank loans Trade creditors Other loans Other creditors Accruals 12 Creditors: amounts falling due after one year Bank loans Other loans |
2023 £ 7,222 17,430 24,652 2023 £ 2,789 21,025 24,451 13,425 3,134 64,824 2023 £ 37,647 318,250 355,897 |
2022 £ 12,271 25,319 |
|---|---|---|
| 37,590 | ||
| 2022 £ 4,599 27,025 21,754 12,446 2,370 |
||
| 68,194 | ||
| 2022 £ 42,261 341,353 |
||
| 383,614 |
Page 18
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2023
13 Analysis of net assets between funds
| 13 Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General funds £ 573,735 358,417 40,834 (64,824) (355,897) 552,265 |
Other funds £ 45,897 616,583 - - - 662,480 |
Total funds £ 619,632 975,000 40,834 (64,824) (355,897) |
| 1,214,745 |
14 Related party transactions
During the year the Charity made the following related party transactions:
Rose Garden Early Years Centre Limited
St Luke's Trust (Berkshire) made an interest free loan totalling to its trading subsidiary Rose Garden Early Years Centre Limited. During the year £14,160 (2022: £3,000) was gifted to Rose Garden Early Years Centre Limited as it was considered by the trustees that such funds were provided in furtherance of the objectives of St Luke's Trust (Berkshire) rather than for the purposes of seeking any return.
In addition St Luke's Trust (Berkshire) paid property management fees of £2,750 (2022: nil) to Rose Garden Early Years Centre Limited.
During the year donations of £Nil (2022: £14.987) were payable from Rose Garden Early Years Centre Limited to St Luke's Trust (Berkshire). At the balance sheet date the amount due from Rose Garden Early Years Centre Limited was £12,000 (2022 - £18,967).
Page 19