**REGISTERED CHARITY NUMBER: 310968**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **FOR**
## **ELIZABETH ALLEN TRUST**
Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG
**ELIZABETH ALLEN TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|13|
**ELIZABETH ALLEN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
After the payment of certain specific expenses the Trustees are required to apply income of the Charity in one or more of the following ways:
|1.|a)|In making payments to the Governors or Managers of any voluntary-aided school in the area of benefit to be applied|
|---|---|---|
|||by such Governors or Managers in discharging their obligations under the Educations Acts 1944 to 1973;|
||b)|In or towards providing special benefits of any kind not normally provided by the local education authority for any|
|||such school;|
||c)|In promoting the education (including social and physical training) of persons under the age of 25 years who are|
|||resident, attend college of further education or are employed in the area of benefit and are in need of financial|
|||assistance and, in particular, but without prejudice, to the generality of the foregoing:|
|||(i)
in awarding to such persons scholarships, exhibitions and maintenance allowances tenable to any school,|
|||university or other education establishment approved for the purpose by the Trustees;|
|||(ii)
in providing financial assistance, outfits, clothing, tools, instruments or books to assist such persons to pursue|
|||their education (including the study of music and other arts), to undertake travel in furtherance thereof, and to|
|||prepare for and enter a profession, trade, occupation or service on leaving school, university or other|
|||educational establishment.|
|||Provided that in applying income as aforesaid the Trustees shall have regard to the promotion of education in|
|||accordance with the principles of Christianity.|
|2.||If an in so far as income in any year is not required for application in the manner aforesaid in the area of benefit the|
|||Trustees may apply the same like manner in the London Borough of Barnet.|
|3.||Within the limits prescribed by this scheme the Trustees shall have power to make rules for he award of|
|||scholarships, exhibitions, maintenance allowances and other benefits, including rules as to the value and period of|
|||tenure of the awards and the qualifications, methods of ascertainment and selection of the candidates for benefit.|
|||Such awards may be suitably associated with the name of Elizabeth Allen, the founder of the Charity, in such a|
|||manner as the Trustees think fit. All decisions are made by the Trustees and voting is by simple majority.|
'Area of benefit' means the area of the Urban District of Barnet as constituted immediately before 1st April 1965.
## **Public benefit**
The Trustees have given due consideration to the Charity Commissions' published guidance on the operation of the public benefit requirement. The Trustees consider the public benefit provided to be the promotion of education for persons who meet the Charity's qualifying criteria.
Page 1
**ELIZABETH ALLEN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
This review covers the period from 1st September 2021 to 31st August 2022, the Trust's financial year which coincides with the academic year. At the Annual Meeting held on 21st March 2022 Mr Peter Ziman was re-elected to serve as Chairman for the coming year, while Rathbones Investment Management was re-appointed investment managers for the Trust with Mr James Pettit from Rathbones Charities Team as Investment Adviser. Mrs Helen Rook remains in her role as Clerk to the Trustees.
During the year the Trustees held four meetings to consider applications for grants. Nineteen applications for grants were received for the year 2021/22. Thirteen grants were awarded for the 2021/22 academic year. Six applications were unsuccessful.
During the year Trustees continued to give careful consideration as to the best way to promote awareness of the Charity and the availability of funds, as the Charity does not carry out fundraising activities, and to finding suitable beneficiaries for distribution of income so that unrestricted general funds are kept to a minimum. Details of the Trust and the grant application process are sent to secondary schools and colleges in the Borough annually. A web page and email contact details are available at www.elizabethallentrust.org.uk.
Since expenditure is a function on income the Trustees consider the risk factor for the integrity of the Trust is low provided that care is taken to keep within budget for the year.
During the course of the year the Trustees acted in accordance with the objectives or the Charity and they will continue to do so.
## **FINANCIAL REVIEW**
## **Financial position**
During the year investment income was £29,782 (2021: £27,809). The total amount awarded in grants was £15,010 (2021: £14,930) and overall expenditure was £35,622 (2021: £34,627).The net loss on investments was £120,661 (2021: £207,534 net gain) resulting in a net loss for the year of £126,541 (2021: £200,716 net gain) and the fund balances carried forward at the year end amounted to £991,219 (2021: £1,117,760). The restricted funds carried forward amounted to £905,527 (2020: £1,025,847). The Trustees consider the Trust to be in a satisfactory financial position.
## **Investment policy and objectives**
The portfolio of investments is managed by Rathbone Investment Management Limited, Stockbrokers in an advisory capacity. This portfolio has shown a gain which compared to present economic climate is considered by the Trustees to be the best investment strategy to provide the correct balance of growth and income for the purposes of the Charity. Annual expenditure is a function of the money received from investments and the Charity does not incur expenses which would be likely to threaten its capital base.
## **Reserves policy**
After the payment of certain specific expenses the Trustees are required to apply the income of the Charity as set out in the 'Objectives and aim' note of this report. The Trustees continue to promote awareness of the available funds so that in future unrestricted general funds will be kept to a minimum.
## Unrestricted general (income) fund
The unrestricted fund is to be used in accordance with the Charity's objectives at the discretion of the Trustees. At 31st August 2022 such accumulations amounted to £85,962 (2021: £91,913).
## Restricted (capital) fund
The restricted fund consists of Charity's investment portfolio held with Rathbone Investment Management Limited and with CCLA on Endowment Account. At 31st August 2022 such accumulations amounted to £905,257 (2021: £1,025,847).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Founded as a charity known as Elizabeth Allen's School in the Urban District of Barnet as constituted immediately before 1st April 1965 in the London Borough of Barnet, regulated by a scheme made under the Endowed Schools Act 1869, on 4th August 1873 as altered by schemes made by the Board of Education on 28th August 1925 and 14th August 1931 and in the matter of the Charities Act 1960. Sealed 24th November 1976, and further amended by Order on 1st March 1979 and again on 23rd July 1999.
## **Organisational structure**
The Trustees meet regularly and all decisions are made by the Trustees having paid due regard to the Charity Commission's published guidance on behalf on public benefit and voting by a simple majority.
Page 2
**ELIZABETH ALLEN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
The Chair of the Trustees is responsible for the induction of any new Trustees. This involves awareness of a Trustees' Responsibilities, the governing documentation, administrative procedures, the history and philosophical approach to the Founder's ideas. A new Trustee would receive copies of the previous year's report and accounts and a copy of the Charity Commission leaflet 'The Essential Trustee: What you need to know, what you need to do'.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Having given consideration to any possible risks to the viability of the Charity, the Trustees take comfort from a portfolio well managed by Rathbone Investment Management Limited, Stockbroker on a Discretionary basis. The day to day management of the Charity's affairs and of its financial procedures follows straightforward accepted procedures in such a way as to present no fundamental difficulty if the Clerk were incapacitate. In these circumstances the Trustees see no need to make any special provision either in the finance or management.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
310968
## **Principal address**
PO Box 1180 St Albans Hertfordshire AL1 9XP
## **Trustees**
Mr P Ziman Mrs R Dyer Mrs V F Johnston Mrs M Kirtan (resigned 21.3.2022) Mr G Nichols Mrs D Locke Mr S Smith (appointed 22.8.2022)
The body of the Trustees shall consist of six co-opted Trustees who shall be appointed for a term of five years by a resolution of the Trustees passed at a special meeting. Co-opted Trustees shall be persons who through residence, occupation or employment, or otherwise have special knowledge of th London Borough of Barnet.
## **Clerk to the Trustee**
Mrs H Rook
## **Independent Examiner**
Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG
Page 3
**ELIZABETH ALLEN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS Stockbrokers**
Rathbones Investment Management Limited 1 Curzon Street London W1J 5FB
## **Bankers**
The Royal Bank of Scotland Plc 30/32 London Road Enfield Middlesex EN2 6DT
CCLA Investment Management Limited COIF Charity Funds 80 Cheapside London EC2V 6DZ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Mr P Ziman - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ELIZABETH ALLEN TRUST**
## **Independent examiner's report to the trustees of Elizabeth Allen Trust**
I report to the charity trustees on my examination of the accounts of Elizabeth Allen Trust (the Trust) for the year ended 31 August 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material 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 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.
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.
Alfonso Del Basso (Senior Statutory Auditor) Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG Date: .............................................
Page 5
**ELIZABETH ALLEN TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Grants payable
Administration
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
13
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2022**
Unrestricted
Restricted
**Total**
fund
fund
**funds**
£
£
**£**
**29,695**
**87**
**29,782**
**-**
**7,723**
**7,723**
**15,010**
**-**
**15,010**
**12,929**
**-**
**12,929**
**27,939**
**7,723**
**35,662**
**-**
**(120,661)**
**(120,661)**
**1,756**
**(128,297)**
**(126,541)**
**(7,707)**
**7,707**
**-**
**(5,951)**
**(120,590)**
**(126,541)**
**91,913**
**1,025,847**
**1,117,760**
**85,962**
**905,257**
**991,219**|2021
Total
funds
£
27,809|
|---|---|---|
|||7,526
14,930
12,171|
|||34,627|
|||207,534|
|||200,716
-|
|||200,716
917,044|
|||1,117,760|
The notes form part of these financial statements
Page 6
## **ELIZABETH ALLEN TRUST**
## **BALANCE SHEET 31 AUGUST 2022**
|Notes
**FIXED ASSETS**
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**
13
Unrestricted funds:
General fund
Restricted funds:
Restricted fund
**TOTAL FUNDS**|Unrestricted
fund
£
**45,493**
**480**
**44,499**
**44,979**
**(4,510)**
**40,469**
**85,962**
**85,962**|Restricted
fund
£
**879,390**
**-**
**25,867**
**25,867**
**-**
**25,867**
**905,257**
**905,257**|**2022**
**Total**
**funds**
**£**
**924,883**
**480**
**70,366**
**70,846**
**(4,510)**
**66,336**
**991,219**
**991,219**
**85,962**
**905,257**
**991,219**|2021
Total
funds
£
1,053,266
479
68,185
68,664
(4,170)
64,494
1,117,760
1,117,760
91,913
1,025,847
1,117,760|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr P Ziman - Trustee
The notes form part of these financial statements
Page 7
**ELIZABETH ALLEN TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity is not part of any group and therefore these financial statements cover the reporting entity only.
The presentation currency of the financial statements is the Pound Sterling (£).
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Charitable activities**
The charitable activities relate to grants payable to various individuals and organisations as noted under note 4 to these financial statements.
## **Governance costs**
Include costs of the preparation and examination of statutory accounts, the costs of Trustee meetings and costs of any legal or professional advice to Trustees on governance or constitutional matters. Expenditure is recognised when incurred and includes VAT which cannot be recovered.
## **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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Grants payable**
Grants payable are made by the Charity to provide funds for financial support to students and apprentices under the age of 25 years, living and/or studying in London Borough of Barnet on the submission and approval of their applications.
## **Fixed Asset Investments**
Investments are shown in the Balance Sheet at quoted market value at the year end.
## **Basic financial instruments**
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
continued...
Page 8
**ELIZABETH ALLEN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **2. INVESTMENT INCOME**
|Income from investment fund
Deposit account interest
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**4.**
**GRANTS PAYABLE**
Grants payable to individuals
Grants payable to institutions
Total grants payable
**5.**
**SUPPORT COSTS**
Management
£
Administration
**6,329**||**2022**
**£**
**29,576**
**206**
**29,782**
**2022**
**£**
**7,723**|**2022**
**£**
**29,576**
**206**
**29,782**
**2022**
**£**
**7,723**||2021
£
27,800
9
27,809
2021
£
7,526|2021
£
27,800
9
27,809
2021
£
7,526|
|---|---|---|---|---|---|---|
||||**2022**|||2021|
||||**£**|||£|
|||**12,560**||||14,930|
|||**2,450**||||-|
||||||||
||||||||
|||**15,010**||||14,930|
||||||||
||Governance
costs
£
**6,600**||||Totals
£
**12,929**||
The independent examiner's fees of £2,100 (2021: £1,740) includes a fee of £990 relating to accountancy services.
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2022, nor for the year ended 31 August 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2022, nor for the year ended 31 August 2021.
## **7. STAFF COSTS**
There were no employees during the year ended 31st August 2022, nor for the year ended 31st August 2021.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Investment income
27,809
**EXPENDITURE ON**
Raising funds
-
**Charitable activities**
Grants payable
14,930
Administration
12,171|Restricted
fund
£
-
7,526
-
-|Total
funds
£
27,809|
|---|---|---|
|||7,526
14,930
12,171|
continued...
Page 9
**ELIZABETH ALLEN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**9.**
**MATERIAL ITEMS ON SOFA**
The net gains/(loss) on investments are noted as below:
Unrealised gains/(loss) on fair value changes
Realised gains/(loss) on disposals of investments
Net gain/(loss) on investments
**10.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 September 2021
Additions
Disposals
Revaluations
Profit/loss on disposal
At 31 August 2022
**NET BOOK VALUE**
At 31 August 2022
At 31 August 2021||Unrestricted
fund
£
27,101
-
708
12,000
12,708
79,205
91,913|Unrestricted
fund
£
27,101
-
708
12,000
12,708
79,205
91,913|Unrestricted
fund
£
27,101
-
708
12,000
12,708
79,205
91,913|Restricted
fund
£
7,526
207,534
200,008
(12,000)
188,008
837,839
1,025,847|Restricted
fund
£
7,526
207,534
200,008
(12,000)
188,008
837,839
1,025,847||Total
funds
£
34,627
207,534
200,716
-
200,716
917,044
1,117,760|Total
funds
£|
|---|---|---|---|---|---|---|---|---|---|
||||||||||34,627|
||||||||||207,534|
||||||||||200,716
-|
||||||||||200,716
917,044|
|||||||||||
|||||||**2022**|||2021|
|||||||**£**|||£|
||||||**(151,557)**|||159,675||
||||||**30,886**|||47,859||
|||||||||||
|||||||||||
||||||**(120,671)**|||207,534||
|||||||||||
||Fixed
interest
stocks
£
**76,931**
**34,260**
**(15,206)**
**(12,947)**
**(1,932)**
**81,106**
**81,106**
76,931|Listed
equities
£
**961,616**
**143,622**
**(170,388)**
**(137,973)**
**32,818**
**829,695**
**829,695**
961,616|||Unit
trusts
£
**14,719**
**-**
**-**
**(637)**
**-**
**14,082**
**14,082**
14,719|||Totals
£
**1,053,266**
**177,882**
**(185,594)**
**(151,557)**
**30,886**
**924,883**
**924,883**
1,053,266||
There were no investment assets outside the UK.
continued...
Page 10
**ELIZABETH ALLEN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **10. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 31 August 2022 is represented by:
|**Fixed**
**interest**
**Listed**
**stocks**
**equities**
**£**
**£**
Valuation in 2022
**81,106**
**829,695**
The total cost of investments at 31st August 2022 was £669,178 (2021: £647,926).
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.21
in funds
£
£
**Unrestricted funds**
General fund
**91,913**
**1,756**
**Restricted funds**
Restricted fund
**1,025,847**
**(128,297)**
**TOTAL FUNDS**
**1,117,760**
**(126,541)**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**29,695**
**(27,939)**
**Restricted funds**
Restricted fund
**87**
**(7,723)**
**TOTAL FUNDS**
**29,782**
**(35,662)**||**Unit**
**trusts**
**£**
**14,082**
**2022**
**£**
**480**
**2022**
**£**
**4,510**
Transfers
between
funds
£
**(7,707)**
**7,707**
**-**
Gains and
losses
£
**-**
**(120,661)**
**(120,661)**||
|---|---|---|---|
|||||
|||||
continued...
Page 11
**ELIZABETH ALLEN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.9.20
£
**Unrestricted funds**
General fund
79,205
**Restricted funds**
Restricted fund
837,839
**TOTAL FUNDS**
917,044
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
27,809
**Restricted funds**
Restricted fund
-
**TOTAL FUNDS**
27,809
A current year 12 months and prior year 12 months combined position is as
At 1.9.20
£
**Unrestricted funds**
General fund
79,205
**Restricted funds**
Restricted fund
837,839
**TOTAL FUNDS**
917,044|Net
movement
in funds
£
708
200,008
200,716
Resources
expended
£
(27,101)
(7,526)
(34,627)
follows:
Net
movement
in funds
£
2,464
71,711
74,175||Transfers
between
funds
£
12,000
(12,000)
-
Gains and
losses
£
-
207,534
207,534
Transfers
between
funds
£
4,293
(4,293)
-|At
31.8.21
£
91,913
1,025,847
1,117,760
Movement
in funds
£
708
200,008
200,716
At
31.8.22
£
85,962
905,257|At
31.8.21
£
91,913
1,025,847
1,117,760
Movement
in funds
£
708
200,008
200,716
At
31.8.22
£
85,962
905,257|
|---|---|---|---|---|---|
||||||200,716|
||||||At
31.8.22
£
85,962
905,257|
||||||991,219|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
57,504
87
57,591|Resources
expended
£
(55,040)
(15,249)
(70,289)|Gains and
Movement
losses
in funds
£
£
-
2,464
86,873
71,711
86,873
74,175|Gains and
Movement
losses
in funds
£
£
-
2,464
86,873
71,711
86,873
74,175|
|---|---|---|---|---|
|||||74,175|
continued...
Page 12
**ELIZABETH ALLEN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2022.
Page 13