**Charity registration number 311348 (England and Wales)**
## **THE WATERBEACH CHARITY**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **THE WATERBEACH CHARITY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr C Bryant|
|---|---|
||Dr R Williamson|
||The Revd P Butler|
||Mr A Glover|
||Mr J Bielby|
|**Charity number (England and Wales)**|311348|
|**Registered office**|33 Bannold Road|
||Waterbeach|
||Cambridge|
||Cambridgeshire|
||CB25 9LQ|
|**Independent examiner**|Whitings LLP|
||George Court|
||Bartholomew's Walk|
||Ely|
||Cambridgeshire|
||CB7 4JW|
|**Bankers**|Metro Bank|
||Unit 1 Christ's Lane|
||Cambridge|
||Cambridgeshire|
||CB2 3BZ|
## **THE WATERBEACH CHARITY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 13|
## **THE WATERBEACH CHARITY**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
The Waterbeach charity distributes its income via 3 charities for the public benefit of the children who attend Church of England schools in the Ely Diocese, to the Church of St John the Evangelist in Waterbeach and to the people of Waterbeach parish who may need financial assistance.
The distribution split between three charities as follows:
|Ely Diocesan School Funds|57%|
|---|---|
|Waterbeach Ecclesiastical Charity|24.50% until July 2024|
|PCC of St John the Evangelist, Waterbeach|24.50% from July 2024|
|Waterbeach United Charities|18.5%|
## _Public benefit_
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the cash distribution policy for the year,
The trustees aim to achieve steady income and capital growth to maximise investment returns. The majority of the capital is to be invested in equities of UK and overseas companies operating ethical policies. Diversity is to be obtained with the investments in property and fixed interest security funds. The whole portfolio is to be managed by one or more professional management companies. Land and property owned by the charity is to be let at the prevailing rate and reviewed periodically within the terms of the tenancy agreements. The trustees have the right to buy or sell land or property for the benefit of the charity if, and when, such a need arises.
- 1 -
## **THE WATERBEACH CHARITY**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Achievements and performance**
_Significant activities and achievements against objectives_ **Key financial performance indicators**
Investment performances have been as follows:
||2024|2023|2022|2021|2020|
|---|---|---|---|---|---|
||%|%|%|%|%|
|Charity’s Return (Income + Growth)|5.00|9.00|(8.00)|15.00|9.00|
|**Investment Benchmarks**||||||
|Average Bank Base Rate|5.10|4.73|1.41|0.10|0.10|
|Retail Price Index|3.50|5.20|13.40|6.30|0.80|
|FT-SE Capital Growth|5.70|2.40|18.30|14.34|(11.55)|
The long term reinvestment of capital returns into the CCLA investments together with a £242,000 capital return in the last quarter increases the charity portfolio with CCLA to £4.42 million pounds. Together with an increase in rental payments on the charity's land at Chittering, a total income for the year exceeds £140,000
## **Review of Activities**
## **Unrestricted Funds**
Cash grant distributions during the year totalled £134,168 (2023 - £133,517) split as follows:
- Ely Diocesan School Fund £76,476 (2023 - £76,106) - Waterbeach Ecclesiastical Charity/PCC of St John the Evangelist £32,871 (2023 - £32,712) Waterbeach United Charities - £24,821 (2023 - £24,700) This represents a neutral performance position (2024 - neutral performance position)
## **Endowment Funds**
The investment portfolio invested in the Church of England Investment and Property funds were both impacted by high inflation but still managed good returns. The trustees held 2 meetings during the year to consider the affairs of the charity.
## **Financial review**
## **Going Concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies
## _Reserves policy_
The charity distributes all net operating surpluses to the 3 beneficiary charities, except for a £2,000 buffer reserve. As these distributions are made quarterly in arrears, and as any shortfall in funds could potentially be supplemented by realising investments, no further amounts of unrestricted funds are felt necessary to be retained as "reserves".
## _Major risks_
The trustees have assessed the major risks to which the charity is exposed, and, in particular those related to the operations and finance of the charity are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
- 2 -
## **THE WATERBEACH CHARITY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Plans for future periods**
Investment holdings in the Church of England Investment Fund continue to be monitored and will hopefully increase the overall returns of 2025
## **Structure, governance and management**
The Waterbeach Charity is a registered Charity, number 311348, and is constituted under a Trust Deed
The charity was originally established in 1687 from donations of various benefactors for the education of the poor children in the Parish of Watebeach and is listed in 1729 by decree of the commission for charitable use. In 1836 land at Chittering was recorded along with all the other charities in the Parish. In 1865 several charities were consolidated by the Charity Commission and administered under the name of The Waterbeach Charity. In 1904 the charity was split and renamed the Waterbeach Educational Foundation by the Board of Education Act of 1899. On the 19th July 1983 the charity was established by Trust Deed by transfer of land, investments and cash from the Waterbeach Education Foundation Trust. These assets are the charity's permanent endowment and are held for investment purposes.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr C Bryant
Dr R Williamson The Revd P Butler Mr A Glover Mr J Bielby
## _Recruitment and appointment of trustees_
The procedure for the appointment and recruitment of trustees is laid down by the Charity Commission scheme dated 19th July 1983 and updated by the Rules of Governance approved by the trustees at a meeting held on the 9th March 2010. Each trustee is accepted into office after signing a declaration of acceptance and willingness to act in the trusts of the charity.
## _Induction and training of trustees_
The induction and training of new trustees will include the following:
- provision of the Charity's governing document, and a copy of the annual report;
- access to the Charity Commission's guidelines for new trustees;
- mentoring from more experienced trustees;
- copies of the Charity Commission's latest newsletter; and
- a positive process of support from fellow trustees
The trustees' report was approved by the Board of Trustees.
.............................. D J Armstrong **Charity Secretary**
Date: .............................................
- 3 -
## **THE WATERBEACH CHARITY**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE WATERBEACH CHARITY**
I report to the trustees on my examination of the financial statements of The Waterbeach Charity (the charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
I.G.C. Piper, Partner **Whitings LLP** George Court Bartholomew's Walk Ely Cambridgeshire CB7 4JW Date: ............................
- 4 -
## **THE WATERBEACH CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**Unrestricted Endowment**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Investments
**2**
140,681
-
**Total income**
140,681
-
**Expenditure on:**
Charitable activities
**3**
140,681
-
**Total expenditure**
140,681
-
Net gains/(losses) on
investments
**6**
-
91,988
**Net income and movement in**
**funds**
-
91,988
**Reconciliation of funds:**
Fund balances at 1 January
2024
2,000
4,912,117
**Fund balances at 31**
**December 2024**
2,000
5,004,105|**Total**
**Unrestricted Endowment**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
140,681
138,435
-
140,681
138,435
-
140,681
138,435
-
140,681
138,435
-
91,988
-
382,112
91,988
-
382,112
4,914,117
2,000
4,530,005
5,006,105
2,000
4,912,117|**Total**
**2023**
**£**
138,435|
|---|---|---|
|||138,435
138,435|
|||138,435|
|||382,112|
|||382,112
4,532,005|
|||4,914,117|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **THE WATERBEACH CHARITY**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|**Notes**
**Fixed assets**
Investment property
**8**
Investments
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**11**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Endowment funds
**12**
Unrestricted funds
**13**|**2024**
**£**
**£**
685,000
4,319,106
5,004,106
4,682
2,005
6,687
(4,688)
1,999
5,006,105
5,004,105
2,000
5,006,105|**2023**
**£**
**£**
685,000
4,227,118
4,912,118
4,682
2,005
6,687
(4,688)
1,999
4,914,117
4,912,117
2,000
4,914,117|**2023**
**£**
**£**
685,000
4,227,118
4,912,118
4,682
2,005
6,687
(4,688)
1,999
4,914,117
4,912,117
2,000
4,914,117|
|---|---|---|---|
||||4,912,118
1,999|
||||4,914,117|
||||4,912,117
2,000|
||||4,914,117|
The financial statements were approved by the trustees on .........................
.............................. Mr C Bryant **Trustee**
- 6 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **Charity information**
Waterbeach Charity is a registered charity in England and Wales
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Investment property**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Rental income|16,143|15,799|
|CBF - Property fund dividends|14,825|14,601|
|CBF - Investment fund dividend|109,713|108,035|
||140,681|138,435|
- 9 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **3 Expenditure on charitable activities**
|**Management**
**and**
**administrati**
**on costs**
**Ely Diocosan**
**School Fund**
**Waterbeach**
**Ecclesiastical**
**Charity/PCC of St**
**John the Evangelist**
**Waterbeach**
**United**
**Charities**
**2024**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**Direct costs**
Opening deferred grant
-
2,612
1,123
848
Quarter 1
-
20,520
8,820
6,660
Quarter 2
-
19,380
8,330
6,290
Quarter 3
-
17,670
7,595
5,735
Quarter 4
-
18,906
8,126
6,136
Closing deferred grant
-
(2,612)
(1,123)
(848)
Clerk's Honorarium
1,000
-
-
-
Insurance
460
-
-
-
Independent examiner's fee
1,050
-
-
-
Repairs and renewals
4,002
-
-
-
6,512
76,476
32,871
24,821
**Analysis by fund**
Endowment Funds
6,512
76,476
32,871
24,821
**Previous year:**
**Management**
**and**
**administrati**
**on costs**
**Ely Diocosan**
**School Fund**
**Waterbeach**
**Ecclesiastical**
**Charity/PCC of**
**St John the**
**Evangelist**
**Waterbeach**
**United**
**Charities**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**Direct costs**
Opening deferred grant
-
2,612
1,123
848
Quarter 1
-
18,582
7,987
6,031
Quarter 2
-
19,380
8,330
6,290
Quarter 3
-
17,100
7,350
5,550
Quarter 4
-
21,044
9,045
6,829
Closing deferred grant
-
(2,612)
(1,123)
(848)
Clerk's Honorarium
2,000
-
-
-
Insurance
440
-
-
-
Independent examiner's fee
977
-
-
-
Legal fees
1,500
-
-
-
4,917
76,106
32,712
24,700
**Analysis by fund**
Endowment Funds
4,917
76,106
32,712
24,700|**Total**
**2024**
**£**
4,583
36,000
34,000
31,000
33,168
(4,583)
1,000
460
1,050
4,002
140,680
140,680
**Total**
**2023**
**£**
4,583
32,600
34,000
30,000
36,918
(4,583)
2,000
440
977
1,500
138,435
138,435|
|---|---|
- 10 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**4**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|1,050|978|
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **6 Gains and losses on investments**
||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|91,988|382,112|
## **7 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **8 Investment property**
||**2024**|
|---|---|
||**£**|
|**Fair value**||
|At 1 January 2024 and 31 December 2024|685,000|
The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2023 by Cheffins Auctioneers and Property Valuers. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
|School Farm Land - 65 acres
Town Holt, West - 1 acre Waterbeach
Access road off Cambridge Road, Waterbeach|**2024**
**£**
640,000
20,000
25,000
685,000|**2023**
**£**
640,000
20,000
25,000|
|---|---|---|
|||685,000|
- 11 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **9 Fixed asset investments**
|**Cost or valuation**
At 1 January 2024
Valuation changes
At 31 December 2024
**Carrying amount**
At 31 December 2024
At 31 December 2023
**10**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Listed**
**Investments**
**£**
4,227,118
91,988
4,319,106
4,319,106
4,227,118
**2024**
**2023**
**£**
**£**
4,583
4,583
99
99
4,682
4,682
**2024**
**2023**
**£**
**£**
4,688
4,688|
|---|---|
## **12 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
||**At 1 January**|**Gains and**|**At 31**|
|---|---|---|---|
||**2024**|**losses**|**December**|
||||**2024**|
||**£**|**£**|**£**|
|**Permanent endowments**||||
|Trust Deed Permanent Endowment|4,912,117|91,988|5,004,105|
- 12 -
## **THE WATERBEACH CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**12**|**Endowment funds**|||**(Continued)**|
|---|---|---|---|---|
||**Previous year:**|**At 1 January**|**Gains and**|**At 31**|
|||**2023**|**losses**|**December**|
|||||**2023**|
|||**£**|**£**|**£**|
||**Permanent endowments**||||
||Trust Deed Permanent Endowment|4,530,005|382,112|4,912,117|
## **13 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At**
General funds
**Previous year:**
**At**
General funds|**1 January**
**2024**
**£**
2,000
**1 January**
**2023**
**£**
2,000|**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
140,681
(140,681)
2,000
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
138,435
(138,435)
2,000|
|---|---|---|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 13 -