Charity Number: 701658 THE JACK PATSTON CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE JACK PATSTON CHARITABLE TRUST CONTENTS Page Reference and adminlstrative detalls of the Charity, its Trustees and advisers Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financlal statement 8-17
THE JACK PATSTON CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees C J U Applegate S G Knipe D Jackson Charity registered number 701658 Principal office Buckles Solicitors LLP Grant House 101 Bourges Boulevard Peterborough PEI ING Independent Examiner Kerry Hilliard ACA FCCA CTA Price Bailey LLP 36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR Banker5 Barclays Bank PLC I Church Street Peterborough PEI IXB Solicitors Buckles Solicitors LLP Grant House 101 Bourges Boulevard Peterborough PEI ING Investment managers Barratt & Cooke Stockbrokers 5 Opie Street Norwich Norfolk NR13DW Valuers and Land Agent5 Stephen Knipe & Co la Abbey Road Bourne Lincolnshire PEIO 9EE
THE JACK PATSTON CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their report together with the financial statements for the year ended 5 April 2024. The Trustees confirm that the Trustee5' report and financial statements of the Charity comply with the current statutorv requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice {SORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019). Objectives and actlvltles a. Policies, objectives and achievements The trust is a grant making charity, the Trustees receive and respond to written requests for funding. The trust's objects, as set out in the trust deed, remain unchanged. The endowment fund and the income is to be applied for such charitable purposes as the Trustees may from time to time at their discretion think fit, particularly in Leicestershire and Cambridgeshire and with particular regard to the preservation of wildlife, the environment, the advancement of religion and the preservation of rural church fabric. The grants paid out during the year are set out in notes 4 and 5 of the financial statements. In setting objectives and planning for activities, the Trustees have given due consideration to the general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a cha rity I P82)'. b. Main achievements During the year the Charity paid grants totalling £97,300 (2023.. £95,000) to a significant number of beneficiaries, see note 5 for the schedule of grants. The beneficiaries used the grant funding for a large number of different causes, these included, and in the case of churches, were not limited to, repairs to and conservation of masonry, roofing, gutters and bell frame5, and general reordering to provide for the installation of toilet5 and serveries, damp eradication and a variety of urgent repairs. Performance a. Financial Review The total incorne for the year was £122,371 compared with £113,424 for the year ended S April 2023. Charitable grants during the year totalled £97,30012023- £95,000) to 37 (2023- 34) institutions. There was a net deficit before movement on investments for the year amounting to £8,128 {2023 - £9,694). Net losses on investments amounted to £20,036 12023 - losses of £87,470) which included realised losses on investments of £1,924 12023- losses of £6,661) unrealised losses on investments of £18,112 12023 - losses of £80.809) and revaluation gains in relation to investment property of £nil12023 - £nil}. As at 5 April 2024 Endowment funds totalled £5,447.347 {2023 £5,440,922) and Ljnrestricted reserves totalled £19,505 (2023 - £54,094).
THE JACK PATSTON CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Performance (contlnued b. Reserves Policy The funds, all of which are unrestricted, are apportioned between expendable endowment and income. Although both are expendable, the Trustees consider the balance on the income account to be a free reserve available for distribution as grants but do not, as a matter of policy, treat the expendable endowment as distributable. They regularly review the manner in which the income fund may be applied in accordance with the objectives of the charity. c. Investments Investments comprise freehold properties and listed investment5 which are considered to have a medium level of risk, The Trustees engage a firm of valuers and land agents to advise on the property portfolio and to value the properties every 5 years. Interim valuations are performed when there are indications of a significant change in the value of the properties. The latest full valuation was carried out 3t 5 April 2021, the trustees do not consider the value of the property has significantly changed from the 2021 valuation. Rents receivable for the year ended 5 April 2024 totalled £61,88212023 - £58,653). Listed investments are reviewed in conjunction with the stockbrokers on a regular basis. At the end of the financial year, the market value of the investment portfolio was £1,403,917 excluding uninvested Cash, compared with £1,430,483 at the end of the previous year. Income from listed investments was £46,697 compared to £53,808 in the previous year. d. Going concern The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Other than the potential effect on investment valuations, the impact of current macroeconomic events is relatively minimal. The Charity has confirmed that it has adequate cash and investment resources for at least the next 12 months fo51owing the signing of these financial statements and for this reason they continue to adopt the going concern basis in preparing the financial statement5. Structure, governance and management a. Constitution The Charity, The Jack Patston Charitable Trust, which is unincorporated, was established by a charitable trust deed dated 18 May 1989. Please refer to page I for the registered number and registered office address. The Trustees who served during the year were., C J U Applegate SG Knipe D Jackson The trustees have a55essed the major risks to which the Charity 15 exposed, and are satisfied that Sy5tem5 are in place to mitigate exposure to the major risks.
THE JACK PATSTON CHARITABLE TRUST TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure, governance and management b. Methods of appointment or election of Trustees The Trust has the statutory power of appointing new trustees. Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of aff airs of the charity and of the incoming resources and appl ication of resources of the cha rity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP 2019 IFRS 102); make judgements and estimates that are reasonable and prudent; state whether applicable accounting stand3rds have been followed; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustee5 are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Report51 Regulations 2008 and the provisions of the trLJSt deed. They are responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. Approved by order of the members of the board of Tru5tee5 and signed on their behalf by.. C J U Applegate Icha i r of trustees) Date..
THE JACK PATSTON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examiner's Report to the Trustees of The Jack Patston Charitable Trust {'the Charity,) I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 which are Set out on pages 6 to 17. Yotjr attention is drawri 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 charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice i$5ued on l April 2005 which is referred to in the extant regulations but has been withdrawn. l 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. Responsibilities and basis of report A5 the charity's trustee5 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 charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl 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 rep5ect'. accounting records were not kept in respect of the charity as required by section 130 of the Act. or the accounts do not accord with those records," or 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 cinsidered as part of an independent examination. I have no concerns and have come acrcss no other matter5 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. Signed.. I Kerry Hilliard FCA ACCA CTA Price Bailey LLP 36 Tyndall Court Commerce Raod Lynchwood Peterborough PE2 6LR
THE JACK PATSTON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2024 Endowment Unrestrlrted Total funds funds 2024 funds 2024 2024 Total funds 2023 Note Incoming resources Investment income 122,371 122,371 113,424 Total incomlng resources 122,371 122,371 113,424 Expendlture on: Raising funds Charitable artivities: Direct costs gra nts Support costs 6,517 6,517 6,001 97,300 26,682 97,300 26,682 95,000 22,117 Total expenditure 130,499 130,499 123,118 Net Ilosses)/gains on investment 120.0361 {20,036} {87,470) Net (expenditure)/income Transfer between funds 120,0361 26,461 18,128) 126,461) 128,164} (97,164) 12 Net movement in funds 6,425 134,5891 128,164) 197,164 Reconciliation of funds Total fund5 brought forward Net movement in funds 5,440,922 6,425 54,094 134,5891 5,495,016 128,164) 5,S92,180 (97,164} Total funds carried fonNard 5,447,347 19,505 5,466,852 5,495,016 The Statement of Financial Activities includes all gains and losses recognised in the year. The note5 on pages 8 to 17 form part of these financial statements.
THE JACK PATSTON CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Fixed assets Investments Investment property 1,403,917 3,999,449 1,430,483 3,972,500 5,403,366 5,402,983 Current assets Debtors; amounts falling due within one year Cash at bank and in hand 10 77,184 45,487 68,309 30,221 122,671 98,530 Creditors: amounts falling due within one year li (59,185) 16.4971 Net current assets 63,486 92,033 Total net assets 5,466,852 5,495,016 Charity funds Endowment funds Unrestricted funds 12 12 5,447,347 19,505 5,440,922 54,094 Total Funds 5,466,852 5,495,016 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Trustee Date: The notes on page 8 to 17 form part of these financial statements.
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 I l. Accounting policies 1.1. Basis of preparation of financial statements The financial statements have been prepared in accordance with the relevant version of the 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 IFRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statement5 have been prepared to give a 'true and fair, view and have departed from the Charities {Accounts and Reportsl Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financia l Reporting Standard applica ble in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which ha5 since been withdrawn. The Jack Patston Charitable Trust meets the definition of a public benefit entity under the FRS 102. See page I for the charity number, the registered office address and the trustee5. The financial statements are presented in Sterling (£). 1.2 Going Concern The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Other than the potential eff ect on investment valuations, the impact of recent macroeconomic events is relatively minimal. The Charity has confirmed that it has adequate cash and investment resources for at least the next 12 months following the signing of these financial statements and for this reason they continue to adopt the going concern basis in preparing the financial statements. 1.3 Fund Accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Endowment funds represent those assets which must be permanently held on trust by the Charity. The endowment funds are expendable. Investment income, gains and losses are allocated to the appropriate fund. 1.4 Income All incorne is recognised once the Charity has entitlement to the income, it 15 probable that the incorne will be received and the amount of income receivable can be measured reliably. Rent receivable is recognised during the period to wh ich it relates. Investment income is recgonised when receivable.
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 l i. Accounting policies (contlnued) 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. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Support cost5 are those costs irlcurred directly in support of expenditure on the objects of the Charity, Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Expenditure on ra ising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on chaiitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support Costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such as grat)ts being recognised as expenditure when the conditions attached are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as commitment, but not accrued as expenditure. 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost le55 impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/lLossesl on investments, in the Statement of financia activities. 1.8 Investment property Investment property 15 measured at market value based on existing use. A formal valuation takes place every five years and interim valuations are performed where there are indications of a significant change in the value of the properties. No depreciation is provided. Changes in value are recognised in the Statement of Financial Activities.
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 l Accountlng Policies (Contlnued) 1.9. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered, Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at b3nk and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acqui51tion or opening of the deposit or similar account. 1.11 Creditors Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it 15 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilitie5 are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount t has received as advanced payments for the goods or services it must provide. 1.12 Financ5al Instruments The Charity only ha5 financial assets and fina ncial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised c05t Using the effective Interest method. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortlsed cost, using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt referred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discou nted at a market rate of interest for a Similar debt instrument and subsequently at amortised c05t, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Investment5 in non-derivative instruments that are equity to the issuer are measured: at fair val ue with changes recognised in the Statement of Financial Activities if the share5 are publicly traded or their fair value can otherwise be measured reliably- at cost less impairment for all other investments . 1.13 Operating leases: the Trust as lessor Rental income from the operating leases is credited to the Statement of Financial Activities on an accruals basis over the lease term. io
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 2 Investment income Unrestricted Total funds funds 2024 2024 Total funds 2023 Rental income Dividends received on listed investments Interest received Wayleaves 61,882 46,697 11,087 2,705 61,882 46,697 11,087 2,705 58,653 53,808 222 741 122,371 122,371 113,424 3 Expenditure on raising funds Unrestricted Total funds funds 2024 2024 Total funds 2023 Land aEents' charges- rental collection commission Land agents, charges- surveyor fees Other costs Property Insurance Investment management fee 4,647 480 348 286 756 4,647 480 348 286 756 4,493 318 710 480 6,517 6,517 6,001 li
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 4 Analysis of expendlture on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Direct costs - Grants (Note 51 Support costs - Solicitors, fees Support costs - Independent examination fees Support costs - Accountants, fees 97,300 23,112 1,074 2,496 97,300 23,112 1,074 2,496 95,000 18,157 1,200 2,760 123,982 123,982 117,117 12
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 5 schedule of grants 2024 All Saints, Church, Tilbrook Holy Trinity Church, Thrussington Free Church, Market Bosworth St Peter and St Paul Church, Market Overton St Andrew's Church, Carlton The Barn Owl Trust Bumblebee Conservation Trust St Michael and All Angels Church, Croft Derbyshire, Leicestershire & Rutland Air Ambulance Lakelands Day Care Hospice, Corby St Mary's Church, Hardwick St Michael and All Angels Church, Whitwell St Peter's Church, Barrowden St Peter and St Paul Church, Exton St John the Evangelist Church, Donisthorpe The Wildlife Trust for Bedfordshire, Cambridgeshire & Northamptonshire 5t Philip and Stjames Church, Groby Sue Ryder Hospice (Thorpe Hall) All Saints, Church, Gazeley All Saints, Church, Keyham All Saint5 With Holy Trinity Church, Loughborough All Saints, Church, Wittering Churches Conservation Trust Clipsh3m Yew Tree Avenue Trust Dove Cottage Day Hospice Ely Cathedral Holt Island Nature Reserve, St. Ives Leicestershire Historic Churches Trust Newton Verdon Baptist Church Plant Heritage St Catherine's Church, Burbage St Denys, Church, Stonton Wyville St Luke's Church, Laughton 5t Mary the Virgin Church, Weston-by-welland St Michael and All Angels Church, Whitwell St Peter's Church, Horninghold St Peter's Church, Stetchworth 3,000 4,000 3,000 2,500 300 2,000 2,000 3,000 2,000 2,000 2,000 2,000 3.000 2,000 4,000 3,000 2,500 2,000 3,500 3,000 3,500 2,500 2,000 3,000 2,500 3,000 3,000 3,000 2,500 2,000 3,000 2,000 2,000 3,000 2,500 3,500 3,500 97,300 All grants paid in the current and prior year were to institutions. No support costs have been allocated to grant making activities. 13
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 20Z4 6 Independent examiner's remuneration The independent examiner's remuneration amounts to £1,07412023 - £1,200). Accountancy fees amount to £2,496 (2023 - £2,760>. 7 Staff costs and Trustees, remuneration and expenses The Charity has no employees, other than the trustees, who did not receive any remuneration (2023 £nill. No employee received remuneration amounting to more than £60,00012023 - none). Expenses of £320 {2023 - £284) were reimbursed to two trustees (2023- two) in relation to lunch expenses. 8 Fixed asset Investments Listed investments Cost or valuation At 6 April 2023 Additions Disposals Revaluations 1,430,483 115,552 1124,006) {18,112} At 5 April 2024 1,403,917 The historical cost of fixed asset investment5 held at 5 April 2024 is £1,263,586 {2023 - £1.262,603). 14
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 9 Investment property Freehold Investment property Valuation At 6 April 2023 Additions 3,972,500 26,949 At 5 April 2024 3,999,449 The year end valuation of £3,999,44912023 - £3,972,500) comprises £3,421,94912023 - £3,395,000) of wholly owned properties and £577,500 {2023- £577,500) of properties with half share. The existing freehold investment properties were valued at market value based on existing tjse by Stephen Knipe & Co as at 5 April 2021. The Trustees are of the opinion that this revaluation continues to reflect the fair value of the freehold investment property, 10 Debtors: Amount falllng due within one year 2024 2023 Trade debtors (rents) Other debtors (held by Stock Brokers) Prepayments 32,596 43,981 607 30,003 38,306 77,184 68,309 Other debtors comprises of cash held within the listed investment portfolio. 11 Creditor5: Amount5 falling due wlthin one year 2024 2023 Other creditors - grants payable Other creditors- Buckles and Stephen Knipe & Co Accruals and deferred income 52,900 2,715 3,570 2,537 3,960 59,185 6,497 15
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 12 Statement of funds Statement of funds - current year Transfer between funds Balance at 6 April 2023 Gains/ Balance at 5 (Losses) April 2024 Income Expenditure Unrestrlcted funds Unrestricted funds 54,094 122,371 (130,499} {26,461} 19,505 Endowment funds Endowment funds 5,440.922 26,461 (20,0361 5,447,347 Total of funds 5,495,016 122,371 {130,499} 120,0361 5,466,852 Statement of funds - prior year Transfer between funds Balance at 6 April 2022 Gains/ Balance at 5 (Losses) April 2023 Income Expendlture Unrestricted funds Unrestricted funds 42.382 113,424 (123,1181 21,406 54,094 Endowment funds Endowment funds 5,549,798 (21,4061 187,4701 5,440,922 Total of funds 5,592,180 113,424 (123,118) 187,470) 5,495,016 16
THE JACK PATSTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 13 Analysis of net assets between funds Analysis of net assets between funds- current year Endowment Unrestricted Total funds funds 2024 funds 2024 2024 Fixed asset investment Investment property Current assets Creditors due within one year 1,403,917 3,999,449 43,981 1,403,917 3,999,449 122,671 159,185) 78,690 {59,1851 Total 5,447,347 19,505 5,466,852 Analysis of net assets - prior year Endowment Unrestrlcted Total funds funds 2023 funds 2023 2023 Fixed asset investments Investment property Current assets Creditors due withir) one year 1,430,483 3,972,500 37,939 1,430,483 3,972,500 98,530 {6,497} 60,591 16,497) Total 5,440,922 54,094 5,495,016 14 Related party transactlons Mr Jackson, a trustee, is a partner in BLJckles Solicitors. During the year Buckles Solicitors charged the trust £23,11212023- £18,157). Mr Knipe, a trustee, is a valuer and land agent at Stephen Knipe & Co. During the year Stephen Knipe & Co charged the trust £4,647 12023 £4,493) for rent commission and professional services). At the year end £2,429 {2023- £2,392} wa5 owed to Stephen Knipe & Co. 17