THE URSULA KEYES TRUST TRUSTEES, REPORT AND ACCOUNTS 31 Deeember 2022 Registered Charity No. 517200
THE URSULA KEITS TRUST TRUSTEES, REPORT AND ACCOUNTS 31 December 2022 Contents Page Legal 8nd Administrative Details Trustees, Report Auditors, Report Statem¢nt of Finan¢iai Activities Balance Sheet Note5 to the Accounts 10- 15
THE URSULA KEYES TRUST LEGAL AND ADTrItNISTRATIVE DETAILS 31 December 2022 Registered Charity No. 517200 Legal Status The Ursula Keyes Trust was established under a Trust deed dated I l December 1985 (as amended on 27 Jaiiuary 2023) and was approved by the Inland Revenue Charity Division on 14 Match 1989. Truste4s Mr J F Kane (Resigned 14 July 2022) Mr J R Leaman Mr J A McLinto¢k Mr J D Brimelow (Chaimian} Mr E A Elliott Dr l A Russell DrPGReid Miss E J Redmond Mrs S Preston (Appointed 14 October 2022) Addre55 clo RSM One City Pla¢e Queens Road Chester CHI 3BQ Bankers Handelsbanken Albion House Albion Street Chester CHI IRQ Solicitors DTM Leoal LLP Archthiay House Station Road Chester CHI JDR Auditors Champion Accountants LLP Siaiutory Auditors 2 Floor, Refuge House 33 - i7 Watcrgate Row Chester CHI 2LE
THE URSULA KEYES TRUST TRUSTEES? REPORT 31 December 2022 The Trustees present their report along with the financial statements of the Charity for the year ended 31 De¢emb¢r 2022. The financial stateinents liave been prepared in accordanc¢ with the accounting tK>licies set out on pages 10 to I l of the accounts and cotnply with the Charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Charities- Financial Reporting Standard applicable in ihe UK and Republi¢ of Ireland (FRS102) (effective I st January 2019). Structure* governallce and mana¢yement The Trust is an Linincorporaied trus( constituted under & trust deed dated I l December 1985 as amended on 27 January 2023 and is a registered Charity, number 517200. The Trust was established by Ursula Keyes prior to her deaih in 1989. The Trustees are recnjited in accordance with the Trust Deed which slates thai the Tntte body will b¢ no mor¢ than 8 with at least 2 Trustees beinD medical practitioners. The Trustees meet quarterly lo decide on the grant applscaiions. review the investment portfolio and keep up io date on all policy decisions whi¢h are minuted. All graut requests falling in the correct geographical area are considered by the Trustees. The Trust assesses related party and confiiet of interest issues annLially by the completion of a related paity forin by eacli Trustee. A list of Trustees who have served during the year are set out on page l. New Trustees are proposed through recommendations from any of the Trustee body. The induction process for new Trustees involves meeting the Chair and one or two otlier Trustees to discuss investments, the grant Fll2king pro¢ess and the responsibilities of a Truste¢ Board. Trustees attend training courses as appTopriate. There are no employees. The Trustees have appointed agents to colle¢t reiits due on the Trust's behalf and admini5trdlors who look after all the administrative and financiai management iequirements of the Trust. Objectives of the Trust The Trustees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning futiire activities and setting the grant making policy for the year. The objectives are.. (i) Primarily {bul not ex¢liLsively) for the benefit of the inhabitants of the area administered by CWAC. The dissemination and improvement of medical knowledge, skills and the care or treatment of patients whether in public or private hospitals or nursiilg homes (including hospices) or in their own homes. Review of Activities and Achievements During the year ended 31 December 2022 the Triist has supported a wide rane of deserving causes in pursuit of its charitable objectives as 5UTnmarised in Note 2 to the accolints. Grants were only made in response to a specific application either for a spe¢itic purpos¢ or v¢ntur¢, for the general purposes of a charitable applicant and for emergency situations in the case of individuals. Grants of £5,000 or less can be agreed by a sub<ommillee consisting of the chairnian and two other Trustees.
THE URSULA KEYES TRUST TRUSTEES, REPORT 31 December 2022 (continued) Financial Review The Financial Activities for the year to 31 Deo¢mber 2022 can be summarised Is follows.'_ 2022 2021 £'ooo 342 £'ooo 262 Income from rents and interest Le5s= Property and other ¢osls Governance costs (118) (15) (127) (14) Net income available for grants Charitable grants 209 (128) 121 (67) Net increas¢ in resources for the year Add.. Gainsl (losses) on investments 81 54 (40) 175 Net movement in funds for the year 256 14 Income for the year consisted of gross rents receivable on fr¢¢hold investment properties of £340.641 (202I- £261,509) and interest of £987 (2021.. £15). Expeiidilure comprised property cost5 of £117,123 {2021.. £127,821) and have stayed consistent wiih the prior year. Movement in the bad debt provision in the year was £Nil (2021.. {£988)), governanc¢ costs £15,119 (2021: £13,801) and other costs £285 (2021.. £506). Charitable grants of £127,811 (2021.. £67,J65) w¢it increased the current year include5 an amount of £69500 granted to The Countess of Chester Hospilal- Breast unit. Following consultatioii with the Triists property advisor, the propery market portfolio at 31 December 2022 has been revalued with an increase in the portfolio valu¢ of £175,000. As a resuli the property portfolio valuation at 31 December 2022 is £4,430,000. Al th¢ year end the net Sets comprise freehold inv¢stTnent properties at a valuation of £4,430,000 (2021: £4,255,000) and bank balances and debtOTS of £546,828 (2021.. £457,001) less sundry cyeditors and accruals of £63,719 (2021.. £55,182). Reserves policy The Trustees have examined the requiretnent for free reserves which are those unr¢slricted funds not invested in fixed assets or otlienvise committed. They consider free reserves of £250,000 to be appropriate. At the balance sheet dat¢, the Trust had £483,109 {2021.. £401,819) of free reserves. The Trustees plan to maintain the free reserves at ihc level of £250,000 over the coming years in order: lo fund a further property investmeni to provide larger charitable gyants to important projects as and when required lo protect lis assets against fluctuations in ihe market to cover administration and property costs.
THE URSULA KEYES TRUST TRUSTEES, REPORT 31 December 2022 (continued) Risk review The Trustees have examined tlie major risks to which the Charity is exposed and syslems have been established to mitigate those risks. Internal risks are minimi5ed by the implementation of procedur¢s for authorisation of all transactions and projects. Extemal risks to funding had led to an investment portfolio which generaies both income and capital growth over a number of years. Future plans Th¢ Trnstees intend to continue providing grants in a similar way and they intend to continue looking for appropriate investment opportunities. Trustees, responsibilities in relation to the finaneial statements Th¢ law applicable to charities in England and Wales requires the Charity TStee3 to prepare financial statements for ea¢h year which give a true and fair view of the slate of affairs of the Charity and of the ineomino resources and application ol resources, of the Charity for that period. In preparing the financial statements, the Triistees are required to.. select suitable accounting policies and then apply them consistenily. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. slate whether appli¢able accounting standaTds hav¢ been followed, subject to any material departures disclosed and explained in the financial statemeiits, and prepare the financial statements on the going concem basis unless it is inappropriaie lo presume that the Charity will continu¢ in business. The TrLlStees are reSnSible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of ihe Charity and to enable them to ensure that the financial statemenis comply with th¢ Chai'ities Act 2011: the applicable Charities (Accounts and Reports) Regulations, and the provision5 of the Tn]st deed. They are also responsible for Safeguarding tlie assets of the Charity and taking reonable steps for the prevention and deteetion of fraud and other irregularities. They are also responsible for safeguardino the assets of the Charity and hence for taking aSonable steps for th¢ prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf by- By order of tbe Trustees Mr J D Brin)elow Date . 13"Pcknb u 2D23
THE URSULA KEYES TRUST AUDITORS, REPORT Independent Auditorsl Report to the Trustees of The Ursula Keyes Trust Opinion We have audited the financial ststements of The Ursllla Keyes TnJ5t ('the trust,) for ihe year ended J l December 20?2 which comprise the statement of financial activities, rhe balance sheet and the note5 to the financial ststem¢nts, includillg a summary of si(rnificant accounting wli¢i¢s. The financial reportin(T ftaTnework thai has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 10? The Financial Reporting Standard applicable irt the UK and Republic of Ireland (United Kingdom Generally Ac¢ept¢d Accounting PTactice}. In our opinion, the financial statements: give a true and fair view of the stste of the Charity's affairs as at 31 D¢cetnber 2022 and of its incoming resources and appli¢atton of resource5, for the yeY4r then ended. have bEen properly Prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢tic¢'. and have been prepared in accordance with the requirements of the Charities A¢t 2011. BASIS for opinion We conducted our audit in accordance wilh International Standards on Auditing (UK) (TSAS (UKII and applicable law. Our responsibilities under those standards are fiirther described in the Auditorf5 responsibiliiies for the audit of the a¢¢ounts section of OUT report. We are indep¢ndent of The Trust in accordance with the ethi¢al requirements that are relevant io our audit of the accounts in the UK, intluding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believt that the audit evidence we have obtained is sufficiEDt and appropriate to provide a b1$ for our opinion. Con¢lu$tons relgting to going ¢on¢ern In auditing lh¢ financial 51atements. we have concluded that the Trnstee5' use of the going concern basis of accounting in lh¢ preparatton of the financial 5tat¢m¢ntS is appropriate. Based on the work we have perfornied. we have not identified any material uncertainties relating to events or ¢onditiorts that. individually or collectively, may cast 5igRificatLt doubt on the Charity's ability to continue a5 a going concern for a period of at least twelve months ftvm when the financial statements are authorised for issu¢. OUT responsibiliiies and the responsibilities of the Tru5t¢es with respect to going concern are described in the relevant sections of this report. Other infortnatTron The other infortnation comprises the infortnation included in the Trustee report other than the financial siaiements and our alldiior's report thereon. The Tmstees are responsible for the other information contained within the Trustee report Oui opinion on the financial stAtements does not cover ihe oiher infonDation and. we do not express any fomi of assurdnee conclusion iheTeon. Our responsibility is to read the oiher information and, in doing so, consider whether the other inforn)ation is materially in¢onsistent witli th¢ financial 5tat¢Tnents or our knowledge obtained in the Cou¢ of the audit or otherwise appears to be tnat¢rially misstated. If we identify 5u¢h material inconsistencies or apparent material misstatements, we are required to determine ivhether this gives rise to a materia] misstaiement in the financial statements themselves. If, bed on the woik we have perfomied. we conclude that there is a nJai¢rial misstatement of this other infoTmatiort, we are required to r¢port thai fact. We have nothTng tts report its this regard.
THE URSULA KEYES TRUST AUDITORS, RIPORT Independent Auditors, Report to th¢ Trustees of The Unula Keyes Trust (continued) Matter5 on which we are requir¢d to report by exception We have nothing to report In r¢5pect of the followin8 matters where the Charities Act 2011 requires us to report to you if in our opinion.. the information given in the financial statement5 is inconsistent in any material respect with the Trllstees. report. or Sufficient a¢eounling record5 have not been kept,. or the financial statements are nor in agreenient with the accounting records; or we have not received all the information and explanations we require for our audit. Responsibtlitie5 of Trustees As explained more fully in the Statement of Trusiees, Responsibilities, the Trustees are resp)n5ible for the PTeparatiort of the financial statements and for beingT satisfied that they give a true and fair view, and for such intemal control as the Trustees determin¢ is necessary lo enable the PTeparation of financial Statements that ar¢ free from material misstatement. whether due to fraud or error. In preparing the financial statements, lh¢ Tnjstees are responsibl¢ for assessing The Trust'5 ability tt> continue as a going concem. dis¢losing. a5 applicable, matt¢rs r¢lated to going concern and using the going concern ba5i5 of accounting unless the Trust¢¢s either intend to cease operations, or have no realistic alt¢mative biit to do so. Auditor's re5ponsibilitie5 for the audit of the financi41 $tstemeDts We have been appointed as aditOrS under section 144 of the Charities Act 20118nd report in a¢wrdance with the Act and relevant regulations madt or havinu effect thereunder. Our objectives are to obtain reasonable assurance about whether The financial statements as a whole are fre¢ from aierial misstatement. whether due to fraud or error. and 10 issue an auditor's report that includes our opinion. Reasonable assurallce is a high level of assurance. but is not a guarantee that an audit conducted in accord3nce with LSAS (UK) will always detect a mai¢rial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of user5 laken on the basis of these financial statements. Irregularities, including fraud. are Ill5tan¢e$ of non-compliance with laws and regvlations. We design procedures in lille with our resptsnsibilities, outlined above, to detect material mis5t&pments in respect of irreuularities. including fraud. The extent to which our procedure5 are capable of dete¢ting irregularities. including fvaud, is detail¢d below= Extent to which tht Audit 1$ oonsidered cxpablt of deteetino irregularilies. including fraud Irregularities are instances of non-¢ompliance with laws alld regulations. The objectives of our audit are lo obtain sufficient appropriate audit evidence regarding Compliance with laws and T¢¥ulations that have a direct effect on the determination of material amount5 and disclosure5 in the financial statement4 to perfom) audit procedures to help identify instances of non-compliante with other laws and re(Tulations that may have a mtLterial effect on the financial statements. and to respond appropriately to ideniified or suspected non-compliance with laws and regulation5 identified durinu the audit Audit procedure5 We detemiine 5itsnifi¢ani applicable laws and regulations through discussion with those ch¢ with governance and our own knowledge of the sectQT and design audit procedure5 to help identify instances of non-compliance with those law5 and regulations that may have a material effect on the financial slatem¢nt5. We consider (he applicable laws 2nd regulation5 to be the financial reportin(T frdmework the Statement of Recommended Pra¢ti¢e: Accounting and Reportints by Charities preparin(p their accoun¢5 in 3¢¢0rdance with the Financial Reportino Standard applicable in the UK and the Republi¢ of Ireland IFRS 1021. the Charitie5 Act 2011 and r¢levant tax regulaiion$.
THE URSULA KEYES TRUST AUDITORS, REPORT Independent Auditors, Report to the Trustees of The Ursula Keyes Trust (continued) We Consider the control environment and the procedllr¢5 in place to address ideniifi¢d risk5, includinu tnanagement override. non-compliance with law5 and iegulations and io prevent and detect fraud or irregularity. Our proc¢dure5 are dEsigned to provide reasonable assurance that the fJn2ncial 5taternents arc frer from material misstaterfient or emr and include.. enqurIeS of individuals key Compliance functions; review of Tninutes of meetings of th05c charged with govemance. review and testing of manual journa15 and significani transactions outside the nom]al course Df busines5. review of financial statement disclosures and testiniy to supporting documentation; perforniance of analytical procedures. We are not responsible for preventing non-compliance and due to the inherent limitstions of an audit. as described above. the audit cannot be relied upon to detect all instances of non-compliance with laws and regulations. A further description of our re5TK)nsibilities for the audit of the financial st&tElll¢nts is located on the Financial REPOrting Council'5 website at.. hnp'.IIMvw.frc.org.uk/auditorsresponsibilities. This description fornis part of our auditoes report Use of our report This report is made solely ro th¢ Charity's TrLLStee5. as a body, in aecordance with part 4 of the Charities (Accollnts and Reports) Regulations 2008. Our audit wo. has been undert&ken so that we miglit State to the Charity's Trustees those matters we are required to state to them in an auditors, report and for no other purp)se. To the fijllest e%rtt permitted by law, we do not accept or a5SUtne responsibiliry to anyone other than the Charity and the Charity's Trustees as a body, for our audit work, for thi5 repDrL or for the opinions we have formed. Susan Harris MA ACA (Senior Statutory Auditor} for and on behalf of CbAmpion Accountants LLP 13 October 2023 Chartered Attountgnts Statutory Auditor 2nd Floor Refuge Hoiise 33-37 Watergate Row Chester CHI 2LE Champion Acwuntants LLP is eli<rible for appointment as auditor of The Trust by virtue of its ¢li8ibility for appointment audstor of a company under of section 1212 of the Companies Act 2006
THE URSULA KEYES TRUST STATEMENT OF FINANCIAL ACTIvfTIES for the year ended 31 December 2022 Unrestricted 2022 2021 Note INCOME Investment income: Rental incom¢ from investment properties in the UK Bank interest 340,641 987 261,509 15 Totxl ineome 341,628 261,524 EXPEIYDITURE Costs of raising funds 117,408 127.339 Expenditure on ¢baritable activities 142.930 81.166 Totsl expenditure 260,338 208,505 Net income before investments (105sesy gAirts 81.290 53.019 Net investtnent gains/ (losses) 175,0(10 (40,000) Net inco¢ and net movement in funds 256,290 13,019 Fund balances brought forward 4,656,819 4.643,800 Fund balances c#rried forw4rd 4,913,109 4.656,819 All of the above results are derived from continuing activitie5.
THE URSULA KEYES TRUST BALANCE SHEET at 31 December 2022 2022 2021 Note Fixed assets Investment property 4,430,000 4.255,(XlO Current assets Debtors Cash at bank and in hand 110,518 436,310 66,784 i90,217 546,828 457,001 Creditors: Amounts falling due within on¢ year (63,719) (55,182) Nei CLirrent a55ets 483,109 401,819 Net assets 4,913,109 4,656,819 Funds Unrestricted- Oeneral 4,913,109 4,656,819 Approved and authorised for issue by the Trustees on and signed on their behalf by.. Mr J D Brimelow Trustee
io THE URSULA KEYES TRUST NOTES TO THE ACCOUNTS 31 De¢ember 2022 Accounting policies Basis of aceounting The financial statetnent5 have been prepared under the historical cost convention with items r¢cognis¢d al cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial slatements have been prepared in accordance with the Statement of Recommended Pra¢ti¢e: Aecounting and Reporting by Charities preparing tlieir accounts in accordance with tl)e Financial Reporting Standard applicable in the UK and RepLiblic of Ireland (FRS 102) (effective 1st January 2019) and the Charities Act2011. The financial statements are prepared in sterlin& which is the functional currency of the enlity and rounded to the nearest £. The trust constitutes a pUble benefit entity as defined by FRS 102. Going ConcerJJ The Trustees have considered the likely level of income and expenditure for the forese¢able future. The Trustees are satisfied that the Charity can meet its obligations as and when ihey fall due. A¢coidingly, the going concern basis of prepardtion is appropriate for these financial statements. lttcoming Resources All in¢oming resources are included in ihe Statement of Financial Activities (SOFA) when th¢ Charity is l¢gally entitled io the in¢ome and ihe atnount can be quantified with reonable accuracy. The following specific policies are applied to particular categories of income.. Investment income and bank interest is included when re¢eivabl¢. Rental income is included in full in the Statement of Finan¢ial A¢tivities in the period in which the Trust is entitled to the receipt. Direct charitable expenditure Expenditure is accounted for on an accruals basis. Costs of generating funds are those costs incurred in maintaining the property portfolio. Charitable activities include expenditure associated with the running of the Charity and includ¢ both the direct costs and siipport costs relating to those activities. Grants payable are payments made to thÉrd parties in furtherance of the Charity's objects under the temis of the tnjst deed. Grants that are approved by the Trust¢es and authori5ed for payment are accrued in the financial slatements. Grants approved but not authorised for payment are not accrued as expenditure. Governance costs comprise the costs of running the charitable trusL including strategic planning for its future developrnent, audit aiid legal fees and all the c05ts of complying with constitutional and statutory requiremenis, such as any ¢osts of Trustee tneetings, of preparing statutory accounts and satisfying publi¢ accountability.
THE URSULA KEYES TRUST NOTES TO THE ACCOUNTS 31 December 2022 Accounting policies (colltillued) Taxation The Trusl is a registered charity and generally exempl from i&Yation. Freehold investment properties Freehold investment properties are initially recognised at their transaction value and subsequently tnea5ured at their market value as at the balance sheet date. The investment properties were fornlally valued at 28 January 2015 by Mr R Heyes FRICS, Chartered Surveyor on behalf of Bolton Birch Chartered Surveyor5. On an annual basi5 the Trustees update the valuation following consultalion with the Trust's property adviser if there has b¢¢n a significant change in market values. Debtors Debtors are measured on initial recognition at settlement amounl. Subsequently they are measured at the cash or other consideration expected to be CeIved. Creditor5 The Trust has creditors whi¢h ar¢ measured at settlement amounts less any discounts. Irreeoverable VAT Irrecoverable VAT is charged as a cost to the SOFA. Fund Accounting Gen¢ral FLinds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objective5 of th¢ Charity and which have not been designated for other puryoses. Charitable ExpendÉknre Basis of Apportionment Total 2022 Totsl 2021 Grants payable Govemance costs Actual Actuai Note 2a Note 2d 127,811 15,119 67,365 13,801 142,930 81,166
12 THE URSULA KEYES TRUST NOTES TO THE ACCOUIYTS 31 December 2022 Grants payable The Charity did not undertake any activity directly but met its charilable purtK)ses by making grants to Institutions and Individuals. The total amount of grants payable, analysed between institutional granls and grants to individuals are as follows.. Institlltions (note 2b) Individua]s (llote 2c) Total 2022 Total 2021 Charitable grants payable 127,811 127.811 67,365 2b Granls to Iustitutions Total unrestricted funds 2022 2021 Grants to Institutions Alder Hey Children's clrItY Chapter {West Cheshire) Ltd Chester Boxers Chester Community Foundation Chester & District Community for Deaf People Chester MLISIC Society Ch¢ster Scouls Deeside Ramblers Di'eam Holidays DSL Giiide Dogs Happy Days Charity Holy Trinity PCC Huntington's Disease Association Kids Cancer Charity Liv¢ Mickle Trafford School NAAS- Local 4 North West Air Ambulance Neuro Muscular Centre Passion for Learning Queens Park High Rowing Club RGK WhcelGhairs Royal Chester Rowing Club Roy Cas11¢ Lung Cancer Foundation Shine Charity SPACE SSAFA Chester Starr in the Community Stick & Step Support ThroLigh Court 4,000 2.894 1.079 1,000 i 0,000 2,000 4,328 4,500 1.580 6,044 1,000 1,009 4,000 3,000 1.100 2,000 5,000 5,000 7,674 2.000 1.550 5,000 4,764 3,900 1,000 2,500 2,000 2,000 3,000 1,000 2.000 2,500
13 THE URSULA KEYES TRUST NOTES TO THE ACCOUNTS 31 December2022 2b Grants to Institutions (continued) The Bren Project The Chester Swimming Association The Countess of Chesl¢r Hospital- Breast UniÉ The Queen's School The Wingate Centre WHAG Young Enterprise Donations under £1,000 3,000 10,000 69,500 3,000 2,000 1,000 2,000 2,254 2,000 127,811 67,365 GTalit5 to Indtviduals 2022 2021 Grants to Indivlduals Toial amount paid in aggregate Number of individuals who received grants Total of ¢harilable grants payable 127,81 67,i65 2d Governan¢e Costs Basis of Apportionment Total 2022 Total 2021 Legal and Proftssional fees Statutory audit fees Actual Actual 9,944 5,175 9,481 4,320 15.119 13,801
14 THE URSULA KEYES TRUST NOTES TO THE ACCOUNTS 31 December 2022 Costs of raising funds Basis of Apportionment Total 2022 Toknl 2021 Property costs Website costs Bank interest and charges Bad debts charged Actual Actual Actual Actual 117,123 127,821 150 285 (988) 117,408 127.339 Total resources expended No staff are employed by the Trust. The Tnjstees received no remuneration, or incurred any other expenses during the year. Investment property Totsl 2022 Total 2021 Market value- blfwd at l January Disposals Revaluation 4.255.000 4,295,000 175,000 (40,000) Market value - clfwd at 31 December 4,430,000 4,255,000 Historical cost 4,062,154 4,062.154 The investment properties were forn)ally valued at 28 January 2015 by Mr R Heyes FRICS. Chartered Surveyor on behalf of Bolton Birch Chartered Surveyors. Following consultation with the Trust's property advisor, the valuation of the property market portfolio has been amended to the values iiicluded in this Teport updated for further property valuation movements in the year ended 31 December 2022. Debtor 2022 2021 Rents due from tenant5 and property agents Prepayments and accrued income 102,979 60,322 6,462 110,518 66,784
15 THE URSULA K£YES TRUST NOTES TO THE ACCOUNTS 31 December2022 Creditors: amounts falling du¢ within on¢ year 2022 2021 Accruals and defeJY¢d income Value Added Tax Other creditors 51,872 10,913 934 49,031 6.151 63,719 55,182 Related Parties The Trustees all give their lime and expertise freely wiihoiit any form of remunerdtion or other benefit in cash or kind (2021: £Nil). No related party transactions arose during the year.