REGISTERED CHARITY NUMBER: 310968 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR ELIZABETH ALLEN TRUST Joiies Huiil & Kceliiigs Chartei'ed Certified Accountants and Chartei'ed Tax Advisers Broad House The Bi'oadway Old Hatfield Hertfoi'dsl)ire AL9 5BG
ELIZABETH ALLEN TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YII AR ENDED 31 AUGUST 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities BalAnce Sheet Notes to the Financial StAtements 8 to 14
ELIZABETH ALLEN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The triistees present theii. report with Él)e financial stateinents of the charity for the yeai. ended 31 August 2024. The trustees have adopted the provisions of Accounting and Repoiting by Charities.. Statement of Recommended Pi'actice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019}. OBJECTIVES AND ACTIVITIES Objectives and aims After the payment of certain specific expenses the Trustees are required to apply ii)come of the Charity in one or more of Éhe following ways.. In makii)g payments to ihe Governors or Managers of any voluntary-aided scI)ool in the area of benefit to be applied by such Governors or Managers in discharging theii. obligalions under the Edu¢alions Acts 1944 to 1973. In or towards providing special benefits of any kind not normally provided by the local education b) auÉliority foi. any such school. In promoting the education (including social and physical training) of persons under the age of 25 years who are resident, attend college of fuilher ediication or air employed in the area of benefit and are in need of financial assistance and, in particulw.. but without pi'ejudice. to the genei'ality of the foregoirig: in awai'ding to such pei'sons scholarships, exhibitions and maintenance allowances tenable to aiiy school, university or oihei. education establishment approved foi. the pui-pose by the Trustees. in providing financial assistance, outfits, clothing, tools, instruments or books to assist such persons to pursue theii. education (in¢luding the study of music and other arts), to undertake travel in furtherance thereof, and to prepare for and enter a pi'ofession, trade, occupation or service on leaving school, univeisity or other educational establishment. Provided that in applying income as aforesaid the TrLEStees shall have regard to the promotion of education in accordance with the principles of Chi'istianity. Jf and in so far as income in any year is not irquii'ed foi. application in the manner aforesaid in the area of benefit tlie Trustees may apply the same like manner in the London Borough of Barnet. Within the limits prescribed by this scheme the Trustees shall have powei. lo make rules for the award of 5cholai'ships, exhibitions, maintenance allowances and oihei- benefils, including I'ules as to the value and period of tenui'e of the awards and the qualifications, methods of asceitainment and selection of the candidates for benefit. Such awards may be suitably associated with the name of Elizabeth Allen, the foundei. of the Charity, in siich a manner as the Trustees think fit. All decisions al'e made by the Trustees and voting is by simple majority- 'Area of benefil, means the area of the Ui'ban District of Barnet as constituted immediately before I st Api'il 1965. Publie benefit Tlie Ti'iislees 111( I'e giveii diie coiisidei'alioii lo ilic CIJai-il>' Coiiiiiiissioiis, publislied L)Liidaiice 011 ilie opci'atioii of Ilie public benefit requirement. T]ie Trustees consider the public benefit provided to be the promotion of education for persons who meet the Charity's qualifying criteria. Page I
ELIZABETH ALLEN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities This review covers the period from I st September 2023 10 3 1st Augiist 2024, the Trust's financial yeai. which ¢oin¢ides with the academic yeai.. At tl)e Annual Meeting held on 25th March 2024 Mr Peter Ziman was re-elected to serve as Chairman for the coming yeai., while Ratl)bones Investment Management was re-appointed itiveslment managers for the Trust with Mi. James Pettil from Rathbones Chai'ities Team as Investment Adviser. Mrs Helei) Rook remains in her role as Clerk to the Ti'ustees. During the yeai. the Trustees held Ihi'ee meetings lo consider applications for grants. Thirteen applications for grants were I'eceived. Six grants wei'e awarded for the 2023124 academic year, of which one has been lield over to 2024-25, one grant was awarded for to the 2024125 acadeniic year and one grant was awarded foi. the 2024125 academic yeai. on onfirmation of enrolment. Five applications were unsuccessfLII. 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 foi. distribution of incoine so that unrestricted general funds are kept to a minimuin. Details of the Ti'usl and grant application process are sent to secondary schools and colleges in the Boi'ough annually. A web page and email contact details are available at www.elizabethallentrust.org.uk Trustees are considering a new website with online application process. Since expenditiire is a function of income the Tnjstees consider the risk factor for the integrity of the Trnst is low provided that care is taken to keep within budget foi. the year. Dui'ing the course of the year the Trustees acted in &ccordan¢¢ with ihe objectives of the Chai'ity and they will continue to do so. FIP4ANCIAL REVIEW Financial position During the yeai- investment income was £34,202 (2023.. £33,395). The total amoiint awai'ded in grants was £8,546 (2023.. £15.500) and ovei'all expenditure was £33.380 (2023.. £38,975). The net gain on investmeiits was £97,950 (2023.. loss £35,163) resulting in a net gain foi. the year of £98,772 (2023: loss £40,743) and the fijnd balances ¢ai'ried fonvard at the year end amounted to £1,049,248 (2023.. £950,476). The restricted funds carried fonvard amounted to £950,767 (2023: £866,038). The Ti'ustees consider the Trust to be in a satisfactory financial posilion. Investment policy objectives The poi1folio of investments is managed by Rathbone Investment Management Limited, Stockbrokers in an advisoly capacity. This portfolio has shown a gain which compared to present economic climate is considered by the Truslees to be the best investment strategy to provide the correct balaiice of gi'owth and income for the puiyoses of the Charity. Annual expenditure is a function of the money received fi'om investments and the Charity does not incur expenses whicl) woiild be likely to threaten its capital base. Reserves policy After the payment of certain specific expenses the Ti'ustees are quI1'ed to apply the income of the Chai-ity as set out in the 'Objectives and aim, note of this report. The Trustees continue to promote awai'eness of the available fiinds so ihat in future unre5tricled genei'al fiinds will be kept to a minimum. Uni'estricled enei'al income fund The unrestricted fund is lo be iised in accordance with the Chai'ity's objectives at the discretion of the Ti'ustees. At 3 1st August 2024 such accumulations amounted to £98,481 (2023.. £84,438). Resti'icted ca ital fund The restricted fui)d consists of Charity's investment poitfolio held witli Rathbone Investment Management Limited and with CCLA on Endowment Account. At 31st August 2024 such accumulations amoiinted to £950.767 (2023: £866,038). STRUCTURE, GOVERNANCE AND MANAGEMENT Govei'ning document The charity is contiolled by its governing document, a deed of trust and constitutes an unincorporated chai'ity. Page 2
ELIZABETH ALLEN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Founded as a charity known a5 Elizabeth Allen's School in the Urban Disti'ict of Bamet as constituted immediately before 1st April 1965 in the London Borough of Bai'net, regulated by a scheme niade under the Endowed Scliools Act 1869, on 4th Augiist 1873 as altered by scheines niade by the Board of Education on 28th Augiist 1925 and 14tli August 1931 and in the matter of the Chai'ities Act 1960. Sealed 24th November 1976. and further amended by Order on 1st March 1979 and again on 23rd July 1999. OrgAnisAtional strueture The Trustees meet regulai'ly and all decisions are made by the Trustees having paid du¢ regard to the Charity Commission's published guidance on behalf on public benefit and voting by a Simple niajority. Induction And ti'aining of new trustees The Chaii. of the Ti'ustees is i'esponsible for the induction of any new Tiustees. This involves awai'eness of a Trustees, Responsibilities, the goveii)ing documentation, adminisli?live procedures, the history and philosophical appi'oach to the FoundeEs ideas. A new Ti'ustee would receive copies of the piEvious year's report and accounts and a copy of the Charity Coinmission leafl¢t'The Essential Truste¢.' What you need to know, what you need to do,. Risli management The trustees have a duty lo identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place lo 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 mai)aged by Rathbone Investment Management Limited, Stockbrokei. on a Discretionary basis. The day to day management of the Chai'ity's affairs and of its financial procedures follows slraightfoiward accepted pi'ocedures in such a way as to present no fundainental difficulty if the Clerk wei'e incapacitated. In these circunstances the Trustees see no need to make any special pi'ovision either in the finance or maiiagement. REFERETr4CE AND ADMINISTRATIVE DETAILS Registei'ed Charity number 310968 PrincipAI address POBOX 1180 St Albans Hertfordshire ALI 9XP Trustees Mr P Ziman Mrs R Dyer Mr5 V F Johnston Mr G Ntchols Mrs D Locke Mi- S Smith (resigned 16.8.2024) Mi- A Wishart (appoinled 20.1.2025) The body of the Trustees shall consist of six co-opted Trustees who shall be appointed for a tem of five years by a I'csoliilioii of Ilie Ti'iislees Pc2sscd i< l a spccial i)iectii)g. Co-oplcd Ti'Lislees slicill be pci'soiis ivlio tlii'oLigli I'esideiicc. occupation or employment, or otherwise have special knowledge of th London Borough of Barnet. Clerk to the Trustees Mrs H Rook Page 3
ELIZABETH ALLEN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 REFEREI NCE AND ADMINISTRATIVE DEI TAILS Independent Examiner Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House l The Broadway Old Hatfield Hertfordshire AL9 5BG Stoekbrokers Rathbones Investment Management Limited 30 Gresham Street London EC2V 7QN Bankers The Royal Bank of Scotlaiid Pl 36 St Andrew Square Edinburgh EH2 2YB CCLA Investment Management Limited COIF Charity Funds One Angel Lane London EC4R 3AB Approved by order of the board of trustees on .. .......................................... and signed on its behalf by.. Mr P Zima Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEI ES OF ELIZABETH ALLEN TRUST Independent ex#mine)"s report to the trustees of EIizAbeth Allen Trust I report to the chai'ity trustees on my exainination of the accounts of Elizabetl) Allen Trust (the Trust) for the yeai. ended 31 August 2024. Responsibilities and basis of report As the charity trustees of the Ti'iist you are responsible for the preparation of the accounts in accordance witl) the requirements of the Charities Act 2011 ('Éhe Act,). I report in respect of my examinalion of the Trust's accounts carried out uiidei. Section 145 of the Act and in carrying out my examination I have followed all applicable Dii'ections given by the Cliarity Commission under Section 145(5}(b) of the Act. Independent examiner's statement I hav¢ coinpleted my exainination. I confirm tl)at no matei'ial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those re¢ords' or the accounÉs do not comply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other ihan any requirement tliat the accounts give a tru¢ 3nd fair view which is not a matter considei'ed as part of an independent examination. I have no concern5 and have come across no other mattel's in coi)ne¢lioii with the examination to which attention Should be drawn in this I'eport in ol'der to enable a piDper 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 l The Broadway Old Hatfield Hertfordshire AL9 5BG Date.. Page 5
ELIZABETH ALLEIY TRUST STATEMENT OF FINANCIAL AcTlTIEs FOR THE YEAR ENDED 31 AUGUST 2024 2024 Total funds 2023 Total funds Unrestri¢led fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Investment income 34,202 EXPENDITURE ON Raising funds Investment management costs 7,814 7,465 7,814 7,814 7,465 Charitable activities Grants payable Administration 8,546 17,020 8,546 15,500 16,010 Total 25,566 7,814 33,380 Net gain51(losses) on investments 97,950 97,950 35,163) NET INCOME/(EXPENDITURE) Ti'ansfers between funds 8,635 90,137 5,408) 98,772 (40,743) 13 Net movement iii funds 14,043 84,729 98,772 (40,743) RECONCILIATION OF FUNDS Total funds brought fonvai'd 84,438 866,038 950,476 991,219 TOTAL FUNDS CARRIED FORWARD 98,481 950 767 1,049,248 950,476 The notes form part of these financial stateinent5 Page 6
ELIZABETH ALLEN TRUST BALANCE SHEET 31 AUGUST 2024 2024 TotAI funds 2023 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Investments io 48,344 924,052 972,396 882,259 CURRENT ASSETS Debtors Cash al bank 1,979 53,884 1,979 477 81,058 55,863 26,715 82,578 81,535 CREDITORS Amounts falling due within one year 12 (5,726) (5,726) (13,318) NET CURRENT ASSETS 50,137 26,715 76,852 TOTAL ASSETS LESS CURREP4T LIABILITIES 98,481 950,767 1,049,248 950,476 NET ASSETS 98,481 950,767 1,049,248 950,476 FUNDS Unrestricted funds: Genei'al fiiiid Restricted funds.. Restricted fund 13 98,481 84,438 950,767 866,038 TOTAL FUNDS 1,049,248 950 476 The financial statements wei'e approved by the Board of Trustees and authorised frir issue on and were signed on its behalf by.. Mi. P Zim rustee The notes form part of these financial statements Page 7
ELIZABETH ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES B2sis of pi'eparing tlie fJnaneiAI statements The financial statenients of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities.. Statement of Recommended Pi'actice appltcable to chai'ities preparing their accounts in accordance with the Financial Repoitiiig Standard applicable in tl)e UK and Repiiblic of Ireland (FRS 102) {effective l January 2019),, Financial Reporting Standard 102 'The Financial Repoiting Standard applicable in the UK and Republi¢ of Ireland, and the Chai'ities Act 2011. The financial slatements have been prepared under the historical cost convention, with the exception of investments which are included at mai'ket value, as modified by the revaluation of ceitain assets. The charity is not part of any group and therefore tlies¢ financial statements cover ihe reporting entity only. The presentation currency of the financial statements is the Pound Sterling {£). Financial I'eporting standArd 102 - redueed diselosure exemptions The charity has taken advantage of the following disclosure exemptions in pi'eparing these fii)ancial statements, a5 permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Jreland,: the requireinents of Section 7 Stalement of Cash Flows. the requii'ement of paragraph 3.17(d); the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48{a)( ), 11.48(a)(iv). 11.48(b) and 11.48(c). Income All income is recognised in the Statement of Financial Activities once tlie charity has entitlement to the funds, it is pIDbable that the income will be i'eceived and Éhe an)ounl can be Ineasured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation ¢ommitting the charity to tl)at expenditure, tt is probable that a traiisfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendilure is accounted foi. on an accruals basis aud has been classified urpder heading5 that aggregate all cost related lo the category. Where costs cannoi be directly attributed to paiticular headings they have been allocated to activities on a basis consistent wilh the use of resources. Grants offei'ed subject to conditions which have i)ot been mel at the year end date are noted as a commitment bul not accrued as expenditure. Charitable activitie5 The charitable activities relate to grants payable lo various individuals and oiganisations as noted linder note 4 to these fiiiancial statements. Govei'nance costs Include costs of the prepai'ation and examination of statutory accounts, the costs of Tnistee meetings and costs of aiiy legal 01- i)i'otessional advice to 'l'i'iistees on goveriiance or coi)stilulional inatters. Expendilui'e is recognised when incui'red and includes VAT wliich cannot be recovered. Taxation The charity is exempt from tax 011 its charitable activities. Fund accounting Unrestricted fuiids can be used in accoi'dance witl) the charitable objectives at the discretion of the truste¢s. Reslricled fui)ds can only be used for particulai. resh'icted purposes within the objects of the charity. Resti'iclions arise when specified by the donoi. oi. when funds are raised for paitiGulai- restricted pui'poses. Page 8 continued...
ELIZABETH ALLEN TRUST NOTEI S TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR NDED 31 AUGUST 2024 ACCOUNTIIYG POLICIES- Continued Grants payable Grants payable are made by the Charity to provide funds for financial siipport to sludents and apprentices under the age of 25 yeai's, living andlor studying in London Borough of Barnet on the submission and approval of their applications. Fixed Asset Investments Investments are shown in th¢ Balance Sheet at quoted market value at the year end. BASIC financi81 insti'uments The charity accounts for basic financial inslruments on initial recognition as per paragrapl) 10.7 FRSI 02 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. INVESTMEf4T INCOME 2024 2023 Inwme from inv¢5tmenl fund Deposit account interest 30,683 31.166 2,229 34,202 33,395 INVESTMENT MANAGEMENT COSTS 2024 2023 Portfolio management 7,814 GRANTS PAYABLE 2024 2023 Grants payable to individuals Grants payable to institutions 7,496 1,050 15,500 Total graiils payable 8,546 15,500 SUPPORT COSTS Governance costs Management Totals Administration 14,560 2,460 Page 9 continiied.
ELIZABETH ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 SUPPORT COSTS- continued The independent examinees fees of £2.460 (2023.. £2.100) includes a fee of £1,050 I'elating to accountancy services. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year elided 31 August 2024, noi. for the yeai. ended 31 August 2023. Trustees, expenses Thei-e were no trustees, expenses paid for the year ended 31 August 2024, nor for the year ended 31 August 2023. STAFF COSTS There were no employees during the year ended 3 1st August 2024, nor for the year ended 31st August 2023. COMPARATIVfi S FOR THE STATEI iVIENT OF FINANCIAL ACTIVITllI S Unrestricted fund Restricted fiind Total funds INCOME AND ENDOWMENTS FROM Investment income 33,391 33,395 EXPENDITURE ON Raising funds Investment management costs 7,465 7,465 7,465 CliaritAble activities Grants payable Administi'ation 15,500 15,500 16,010 TotAI 31.510 38.975 Net gainsl(losses) on investments 35,163) 35,163) NET INCOMEI(EXPENDITURE) 1,881 (3,405} (42,624) -3,405 {40,743) TrA Tisfers betiveei) fiInds Net movement in funds {1,524) (39.219) (40,743) REI CONCILIATION OF FUNDS Total fiinds brouglit forward 85.962 905,257 991,219 TOTAL FUNDS CARRIED FORWARD 84,438 866 038 950,476 Page 10 continued...
ELIZABETH ALLEN TRUST NOTES TO THE FINANCIAL STATEMEIYTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 MATERIAL ITEMS ON SOFA The nel gainsl(loss) on investments are noted as below.. 2024 2023 Unrealised gainsl(loss) 011 fair value clianges Realised gainsl(loss) on disposals of investments 15,508 82,444 (40,107) 4,944 Net gainl(105s) on investments 35 163} io. FIXED ASSET INVESTMENTS Fixed interest stocks Listed equities Untt trusts Totals MARKET VALUE At I Septembei. 2023 Additions Disposals Revaluations Profitlloss on disposal 66,119 43,792 (37,249) 6,039 3,378 803,223 243,258 (262,805) 9,469 84,255 12,917 882,259 287,050 (300,054) 15,508 87,633 At 31 Aiigust 2024 82,079 877 400 12,917 972,396 NET BOOK VALUE At 31 August 2024 82,079 877,400 12,917 972 At 31 AiigLlSt 2023 803 223 12,917 882,259 There were no investment assets outside the UK. Cost or valuation at 31 August 2024 is represented by.. Fllxed interest stocks Listed equities Unit trusts Totals Valuation in 2024 82,079 877,400 972,396 The total cost of iiivestments at 3 1st August 2024 was £783,016 (2023.. £708,699). Pagell continu¢d.-.
ELIZABETH ALLEN TRUST P40TES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 AUGUST 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income Prepayments 479 1,500 477 1,979 477 12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other credilors 13,318 13. MOVEMENT IN FUNDS Net movement in fLtnds Transfers between funds At 31.8.24 At 1.9.23 Unrestricted funds General fund 84,438 8,635 5,408 98,481 Restricted funds Restricted fund 866,038 90,137 (5,408) 950,767 TOTAL FUNDS 950,476 98,772 1,049,248 Net movement in funds, incliided in the above are as follows: Incoming resoui'ces Resources expended Gains and losses Moveinent in funds Unrestrieted funds General fund 34,202 (25,566) 8,635 Resti'ieted funds Restricted fund (7,814) 97,950 90,137 TOTAL FUNDS 33 380) 97,950 Page 12 coi)tinued...
ELIZABETH ALLEN TRUST NOTEI S TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 13. MOVEMENT IIY FUIYDS- continued Comparalives for movement in funds Net movement in funds Transfers between funds At 31.8.23 Ai 1.9.22 Uni'estricted funds Genei?I fund 85,962 1,881 (3,405) 84,438 Restricted fund5 Restricted fund 905,257 (42,624) 3,405 866,038 TOTAL FUNDS 991219 40 743) 950,476 Comparative net movement in funds, included in the above are as follows: Incoming I'esoui'ces Resources expended Gains aiid losses Movement in funds Unresti'icted funds General fund 33,391 (31,510) 1,881 Restricted fuiids Restricled fund (7,465) (35,163) (42,624) TOTAL FUNDS 33,395 38,975) 35,163) 40,743) A current year 12 months and pi'ior yeai. 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.8.24 At 1.9.22 Uni'estrieted fuiids General fund 85,962 10,516 2,003 98,481 Restricted fund5 Restricted fund 905,257 47,513 (2,003) 950,767 TOTAL FUNDS 991.219 58,029 1,049 248 Page 13 continued...
ELIZABETH ALLII N TRUST r40TES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 AUGUST 2024 13. MOVEMENT IN FUNDS- continued A Current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resour¢es expended Gains and losses Movement in funds Unrestricted funds General fund 67,593 (57,076) (i) 10,516 Restricted funds Reslricted fund (15.279) 62,788 47,513 TOTAL FUP4DS 67,597 72,355) 62,787 58,029 14. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Page 14