Charlty Reglstration No. NIC 102092 HOLYWOOD PARISH CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 harbinson mulholland
HOLYWOOD PARISH CHURCH LEGALAND ADMINISTRATIVE INFORMATION Clergy Rev. Canon Gareth Hatron Rev. Ken McGrath (Resigned 30 April 20221 Select Vestry Mrs Cheryl Murray Mrs Heather Mccord (Hon Secretary) Mr Brian Beatty (Hon Treasurer) Mr Gavin Panlridge Mr$ 8etty McLaughlin Mr Bob Cooke Ivlcafs Glebewardenl Mi55 Jayne Forster Mrs Mary Ringland Mrs Jenny Nobl8 Mr Wlll Keown Mr Adam Glover Mr Marc Ba118rd Mrs Sheelagh Glover (People's Churchwardenl Mr Drew Wllklnson Mr5 Maressa Anthony IVica¢5 Churchwardenl Mr Leslie Allen (People's Glebew3rdenl (Appointed 3 April 20221 IAppolnt8d 3 April 20221 IAppolnt8d 3 April 2022) (Appolnted 3 Aprfl 2022) Charlty nurnbor NIC 102092 Operatlonal address 71 Church Road Holywood Down BT18 98X Independent Oxamlner Harf)Inson Mulholland Centrepoinl 24 Omieau Avenue Belfast Co. Anlrim Northem Ireland BT2 8HS Banker8 Danske Bank Donegall Square Wesl Belfast Co. Anlrim Northem Ireland BT16JS
HOLYWOOD PARISH CHURCH CONTENTS Page Select Vestry's report Independent oxaminerfs report Statement of fin8naal activltlès Ststement of fin8nclal p051tion Slalement of ca8h flows Notes to tha financl81 statements 7-14
HOLYWOOD PARISH CHURCH SELECT VESTRYS REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Structur85 governance and rnanagemont HolywixJ(i Parish Church Is a p8rt of the Diocese of Down and Dromore within the Church of Ireland and as such is governed by the constitution of the Church of Ireland. Activltles Holywood Parish Church operates in Holywood, County Down, Northern Ireland. Its objective is to be the local Anglican expression of the Christian Church in Holywood. The Christian Church $88ks to seNe and glorify God, meeting together as the people of God. Resulll and achievoments Th8 net galn for the year amounted to £29.52612021: £76,410), of whlch £14,988 is attrlbutable to unrestricted reserves which now Stand al £307,35912021' £292,373) and £14.540 is attributable to reslricled reserves. To achieve its objeGlive$ Holywoc¥J Parlsh Church holds Sunday and week day seI¢8S of worshlp, provides 8 variety of other meetings for rnemb8rs and guests, and teaches Its members how to serve and glorify God. There are usually five Sunday services catering for different grouplngs and preferenc88 of worshlp genr8. A mldweek servic8 is 8lso held on Wednesday. There ara meetings for men, women, young people, carers and Infants, and the elderty each week. Many who attend these meetings are not members of Holywood Parish Church. The meetings are provided partly as service lo the community and guests are welcome and encouraged. Chrislian teaching is provid&d in the services of worship and al midweek meetlngs. These meetings are In small groups m8&tlng in homes or larger gatherings in the church premises. O¢casion81 speclal events such as conc8rt8 are arranged 8S OPPOrtuni1188 to Invlt• tho wlder communlty to share th8 resources for which the church Is responsible. Around 300 people atténd Ihe Sunday services. Up to 1,875 people remain on our database 88 wanting lo be connècted to Holywood Parish Church. Publlc Benefit The Select Vestry belleves that the public benefrts from its Sunday and w88k day services In the educatlon on howto see and glorify God. R?Grultmenl and appolntrnent of Selacl Vestry The Selecl Vestry is appointed on an annual basis at the Easter Vesty. All those on the Gen8ral Vestry Register are enlilled lo vote according lo the constitution of the Church of Ireland. The churchwardens and slipendiary clergy are members of the Select Vesty ex officio. Resgrv•8 poII¢y The Select Vestry believes that the Church has sufficient reserves to fund its activities in the future.
HOLYWOOD PARISH CHURCH SELECT VESTRY'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 ststement of Select Vgstry's responslbllltlos The Select V8Stry is required to Prepare the Annual Report and financlal statements for each financial year, whlch give a true and fair view of the state of the affairs and of the surplus or deficit of the Church for that year and have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice. preparing these the Select Vesty is required to- . select suitabla accounting pollcies and appty them consist8nUy- maka ludgemenl$ and estim8t@s that are rea8onabl8 and pnjdent., prepare the financial statements on the going concem basis unless it is Inapproprlate to presume that the church will continue in business. The Select Vestry is responsible for keeping proper accounting records, which dlsclose wlth reasonable accuracy at any time the financial posltion of the Church. They are also responsible for safeguarding the assets of the Church and hen¢& for taking reasonable steps for the provenlion and detection of fraud and other irregularflies. Soloct Vestry and thelr Intere•ts The Select Vestry during the y88r and 81 the dats thls report W88 approv8d, Is listed on page 1. A new s818ct vestry Is elected 8v8ry year bul members are able lo be re-elected an indefinite number of times according lo the constitution of the Church of Ireland. During the year to 31 December 2022, there wer8 fifteen members of SeleGI Vestry excluding the clergy. Indepandenl exarnlners Harbinson Mulholland have indicated thelr willingne8s lo contSnue in office. This report ha5 been prepared in acGordan¢e with the Slatemenl of Recommended Practice I'Accounting and Reportlng by Charitles'l 2015. By order of th& S818Ct Vestry fvlk) Mrg Mares58 Anthony IVIc8r's Churchwarden) Trusto• Oaled. 3a.lo..1.23
HOLYWOOD PARISH CHURCH INDEPENDENT EXAMINER'S REPORT TO THE SELECT VESTRY OF HOLYWOOD PARISH CHURCH We report lo the Select Vestry on our examination of the financial statem&nts of Holywood Parlsh Church {th8 charity) for the year ended 31 December 2022. Responslbllltles and bas18 of report As the Select Vestry of the charity you are responsible for the preparation of the financial slatements and you have considered the audit requirement of Section 65131 of the Charities Act INI) 2008 (the Charilles Act). Having satisfied ourselves Ihal the charity is nol subject to audit under company law, and is eligible for independent examinalion, it is our responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008., follow the procedures laid down in tha general Directions given by th8 chatY Commission for Northern Ireland under section 6519)Ibl of the Charlties Act; state whether particular matters have come to our attention. Ind•p•nd8nt èxamin0$ statemènt We have examined your charlty accounls as required under Section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under se¢bon 85(91{bl of the Charities Acl. The examination included a review of the accounllng records kept by the charity and a comparison of the a¢UnIS presented with those records. It also Induded conslderalion of any unusual Items or di8cIosuTes in Iha accounts, and seaklng explanations from you as charity trustees concerning any such matters. Our role is to stale whether any material matters have com8 to our attention giving us cause to believe.. The accounting records were not kept in respect of the charély as required by section 63 of the Charities Act; or the financlal slalemenls do not accord wllh those records- or That the financial statements do not comply with the accounting requirements of the Charities Act and with the methods and principles of the Charities Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. That there Is further Informallon needed for a proper understanding of the accounts to be reached. We have completed our examlnalion and have no concems In r8spect of the matters 11) to 141 Ilsted above and, in connection with following the Direction5 of the Charity Commission for Northem Ireland, we have found no matters that require drawing to your attention. rrLIL(i(L"' Harbinson Mulholland Chartered Accountants Centpoint 24 Omeau Avenue Belfast Co. Antrim BT2 8HS Northem Ireland Dated: ..
HOLYWOOD PARISH CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlctsd Reslrlcted funds funds 2022 2022 Total Unr•strl¢ted Restrlcted funds nds 2021 2021 Total 2022 2021 Notes Income from: Donations 8nd legacies Investments 347.608 14,372 102,538 450,146 14.372 330,316 11,358 50,947 381,263 11.358 Total Incomo 361,980 102,538 464.518 341,674 50,947 392,621 endlture on: Charitable acllvltleg 276,565 158,118 434,683 292,296 24.590 316,886 Nel gainsll105sesl on investments 12 13091 (3091 675 675 Net InGomlngl(outgolng) resources beforè transfers 85,106 155.5801 29,526 50,053 26,357 76,410 Gross transfers behveen fundg 170.1201 70,120 Net rnovernent In funds 14,986 14.540 29,526 50,053 26,357 76,410 Fund balances at 1 January 2022 292.373 1C6,507 398,880 242,320 80,150 322,470 Fund balances at 31 Decembar 2022 307,359 121,047 428,406 292,373 106,507 398,880 The stat8ment of flnandal a¢tlvltie8 Includes all galns and losses recognlsed In the year. All Income and exp8ndlture derive from condnuing actlvltles.
HOLYWOOD PARISH CHURCH STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assels 66,520 66.520 Current ass•ts Debtors Investments Cash at bank and In hand 10 12,008 5.275 411,799 16,177 5,584 377,954 429,082 399,715 Crndltors: amounts falllng du• wfthln one year 13 {67,198) {67,3551 Net oJrr8nt assets 361.886 332,360 Total assots less current Ilabllhle8 428,406 398,880 Income fundg Restricted fund5 Unrestrlcted funds Designated funds Other designated funds 14 121,047 106,507 242,320 65,039 242.320 50,053 307,359 292.373 307.359 292,373 428,406 398.880 The flnanclal Statements were approved by the Select Vestry on . Mrs Heather Mccord (Hon Seuetary) Mr Brian Beaty (Hon Treasu er)
HOLYWOOD PARISH CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operatlng actlvltles C8sh generated from operations 18 19,473 61,311 Invastlng a¢Uvltles Investment Income CeiV8d 14,372 11,358 Net cash generated from Inve8tlng actlvltles 14,372 11,358 Net rAsh used In flnan¢lng actlvltles N•t Increa•• In cash And ¢a8h equlvalents 33,845 72,669 Cash and cash equiva18nts at beginning of year 377,954 305,285 Cash and cash equlvalonts at end of yoar 411,799 377,954 The notes on pag88 710 14 form p8rt of these financial st8ternents.
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting pollcles 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the "Accounting and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their acuntS in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting period commencing from 1 January 2016). The charlty is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, whlch is the functional currency of the charlty- Monetary amounts in these financial statem8nts are round&d lo th& nearest £. The financial ststements hava be8n prepared und&r the historical cost convention, modified to include the revaluation of freehold properties and to Include investment propertles and Gertain financlal Instruments ai falr value. The principal accounting policies adopted are sel out below. 1.2 Going concorn Al the lime of approving the financial statements, the Select Vestry have a reasonable expectatlon that th8 charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Se18Ct Vestry continue lo adopt the going concem basis of accounting in preparing the financial statern8nts. 1.3 Charitsble funds Unrestricted funds ar8 available for use Bt the discretion of the Select Vestry in fvrtherance of their charitab18 objectives. Restrictéd funds are subject to specific conditions by donors as lo how they may be used. The purpose5 and uses of the reslrl¢led funds aro sel out in Ihg notes to the financial statements. Investment income Is allocated lo the approprfat8 fund. 1.4 Income Income is recognised vthen the Charity is legally entitled to It after any p•rfomi8nce conditlons have been met, the amounts can be measured reliably, and it is probable that income will be received. Donations, are COgniSed when the Select Vestry has been notified in writing of both the arnount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance before the charity is enti118d to the funds. the incoma is defeffed and not recognised until eilher those conditions are fully met, or the fulfilment of those conditions is wholly wlthin the control of the charity and It is probable that those conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the granting of probate when the adminislratorl 6xecutor for the estate has communicated in writing both the amount and selllemenl dale. In the event that the glft is in the form of an asset other than cash or a financial asset traded on 8 recognised stock exchange, recognition is subject lo the value of the gift being reliably measurable with 8 degree of reasonable accuracy and the tille lo the asset having b6en transferred to th8 charity. Interest on funds held on deposit is Included when receivable and the amount can be measured rellably by the charity., this is nomially upon notsfiGation of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normalty upon notification by our investment advisor of the dividend yield of the investment portfolio.
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policles {Contlnuedl 1.6 Expondlture Liabllities are recognlsed as expenditure as soon as there is a legal or constrvctlve obllgation committing the charity to that expenditure, it is probable that settlement wll be required 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 or apportioned lo the applicable expenditure headings. 1.6 Tangiblo fixed assets Al each balance sheet date, the carying amount of tangible 8SS8ts are reviewed to delemiine whether there is an indication that those assets have suffered an impairment loss. Where the carrySng value exceeds the 8Stimaled re¢overable amount (being the greater of fair value less costs lo sell and value-in-usel. an impairment loss is recognised by writing down the assets, cash-generating unlles lo their recoverable amount. impaimient loss is recognised immediately in the SLqtem&nl of Financial Activities. Any rèversal of previous Impairment Ioss is Similady recognis8d immeolal8ly in tho Statement of Financial Aclivitles. Fixed assèts are nomially wrltten off in the year of purchase, with the exception of land and bulldlngs, whlch are valued at hislorlc cost. Buildings are not depCIated as they are fully malntained. 1.7 Heritago assets Th8 Church and ralaled buildings within its ground are of a historic nature and as heritage assets have not been included on the balance sheet. 1.8 Investments Investments are Inltially measured 81 transactlon prlce exduding transaction costs, and are subsequently measured 8t fair value at each reporting dale. Changes in fair value are recognised in nel incomel (expendlturel for the year. Transaction costs are expensed as incurred. 1.9 Impairmènt of flxed assots At each reporting end date, the charity reewS the carying amounts of its tanglble assets lo determine whethér the is any indication that those assels have suffered an impairment loss. If any $u¢h indication exists, the recoverable amount of the asset is e$tsmal8d in order lo determine the extent of the impairment loss lif any). 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposit5 held al call with b8nks, othar short-terrn liquid Investments wllh odglnal rnaturities of three months or less, and bank overdrafts. Bank overdrafts are Shown within borrowlngs in current Ilabillties. 1.11 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 '8asic Financial InstnJments' 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 V4hen the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financlal statements. when there is a legally enforable right to set off the recognised amounts and there is an intention to setue on a nel basis or to realise the asset and settle the liability Simultaneously.
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounllng pollcies (Contlnued) Baslc flnancial assets Basic flnancl81 assets, whlch include debtors and cash and bank balances, are inltially measured at transaction price including transaction costs and are subsequentty carried at amortised cost using the effectiva interest method unless the arrangement constitutes a financing transaction, where the transaction 15 measured al the psent value of the futUT8 receipts discounted al a maTket rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal IlabiliTtles Basic financial Ilabilities, including creditors and bank loans are initially racognised at transaction price unl855 th8 arrangement conslltutes a financlng tr8nsactlon. where the debt Instrument Is measured at the prèsent value of the future payments discounted at a market rate of inlarest. Financial liabilities dasslfied as payable within one year are not amortised. Debt instruments are subsequently carried at amortlsed cost, using the 8ff8ctlve Interest rale method. Trade craditors a obligations to pay for goods or $eNices that have been acquired in the ordinary course of operations from suppllers. Amounts payable are classified as current liabilities if payment Is du8 Wlthin one year or less. If not, they are presented as non-currenl Ilabilltles. Trade creditors are reGognised inllially 81 transaction price and subsequently measured al amortised cost using the effective interest method. Derecognltlon of financlal Ilablllties Financial liabilities 8re derecognised when the charity's contractual obligations expire or are dlscharged or cancelled. 1.12 Employee b•nellt8 The cost of any unused hollday enlitlamenl 18 reGognlsed In the perlod in which the employee's Services are received. Temination benefits are recognised immèdiately as an 8xpense when the charity Is demonslr8bly committed to lemiinale the employment of an employee or to provlde termination benefits. 1.13 Retlremenl beneflt5 Employees of the charity are entllled to join a defined contribution scheme. Contributions to defined contribution p8nsion arrang8ments are charged lo the Statement of Financial Activities as they fall due. The charfty has no liability beyond making 115 contrlbutions 8nd paying across the deductlon5 for employee's contributions. Crltlcal accounllng 86tSmates and judgern8nts In the application of the charity's accounting policies, the Select Vestry are required to rnak8 judgements, estimates and assumptions 8boul the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical expeTienc6 and other factors Ihat are considered lo b8 relevanL Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo aceountlng &5timates are rery)gnised in the period in which Ihe esb'mate is revised where the revision affects only that period, or In the perlod of the revision and future periods where the revision affects both current and future periods.
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 CrltlGal accountlng estlmatss and Judgements (Contlnuod Key sources of esllmation uncertalnty Tanglble flxed assets Tanglble assets are depreclated over thelr usefvl Ilves taklng into account resldual values where approprfale. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In reassessing asset lives factors such as maintenance programmes are taken inlo account. Residual value assessments consider issues such as the remaining life of the asset and its eslimate(I value in use. Buildings are not depreciated as they are fully maintained. Donatlons and1ogaclo8 Unrestricted Restricted funds fund8 Total 2022 Total 2021 Offertory and donallons Congregational actsvities Gift days and special Gollections Legacies and baquest8 Other income Gift aid DOnaon$ from Trust 254,903 5,615 17.900 200 1,785 52,205 15,000 254.903 5,615 120,438 200 1,785 52.205 15,000 251.118 4,845 50.947 3.000 1,459 55,594 14,300 102,538 347,608 102,538 450,146 381,263 For the y•ar endod 31 D•combor 2021 330,316 50,947 381.263 Inve8lmants 2022 2021 Rental income Dividend received Interest receivable 10,221 3.165 986 7.553 2,504 1,301 14,372 11,358 10-
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitsble actlvitles 2022 2021 Stsff costs Congregational activities Dlocesan and tharilable glvSng 122.081 15.793 211,880 160,674 14.274 82,103 349,754 257,051 Share of support costs {$ee note 6) Share of govemance costs {see note 8) 83.629 1,300 58,635 1,200 434,683 316,886 Analy815 by fund Unrestricted funds Restrlcted funds 276,565 158,118 434,683 For th• year ended 31 Decembor 2021 Unrestricted funds Restricted funds 292.296 24.590 316,886 8upport costs Support costs Govfrrnanco costs 2022 2021 Staff costs Insuran Utilities Repairs Administration Bankfees l.T. and Gompuler costs 12,035 9,282 33.020 23,097 4,992 711 492 12,035 9,282 33,020 23,097 4.992 711 492 11.582 8,762 20.770 12,389 4,646 136 350 Audit and accountan¢y 1.300 1,300 1,200 83.629 1,300 84,929 59,835 Analysed btheen Charitable activllies 83,629 1.300 84,929 59,835 11
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Select Vestrfs remuneration and expgnses Tha Stipendlary Clergy receive stipends for their duties in the church and are ex-officio m&mb8rs of Sel&ct Vestry. None of the Select Vestry {or any persons connected wth thaml received any remuneration or benefits during the year. Employees The average monthly numb8r of employe8s during thè year was: 2022 Number 2021 Number Employm•nt Go•ts 2022 2021 Wages and salarfes Social security costs Other pension costs 115.204 4,611 14,301 144,256 7,595 20,405 134,116 172.256 There were no employees whose annual remuneration wa5 more than £60,000. Tanglble Ilx•d a8S•t$ L*nd and bulkllngs Flxtures, fbttlngs & equipment Total Cost At 1 January 2022 66,520 10,000 76,520 At 31 Decèmber 2022 66,520 10,000 76,520 Depr•elatlon and Impalrnient Al 1 January 2022 10,000 10,000 At 31 DeGember 2022 10,000 10,000 Carrying amount At 31 Dgcember 2022 66.520 66,520 At 31 December 2021 66,520 66,520 12-
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Debtors 2022 2021 Amounts falllng due wlthin one year: Prepayments and accrued income 12,008 16,177 11 Current a88et InveBtm8nts 2022 2021 Investments 5,275 5,584 12 Net galnslllosses) on Investmonts Unre8trlct•d fund8 Totsl 2022 2021 R8valuatlon of investments 13091 675 13 Cradltor8: amounts falllng duo wlthin one yoar 2022 2021 Other creditors Accruals and deferred In¢ome 33,751 33,445 35,660 31,695 67.196 67.355 14 Re¥triGted funds Movement In funds Ineomo ExndItur0 Balance at 1 January 2022 Transf•r8 Balancts at 31 December 2022 Mission- Kkalwe Mission- Asha Church organ refurbishment fund 24,256 5.568 76,683 3,175 11.458 87,905 127,1701 18,9211 {122,0271 261 8,105 112,681 70.120 106,507 102.538 1158.1181 70,120 121,047 13-
HOLYWOOD PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Deslgnated funds Movement In fijnds Balance ut 1 January 2022 Incom• ExndItur• Transfors boiween funds Balance at 31 Decemb•r 2022 Special projects Other designated funds General unrestricted funds 206,965 35.355 50.053 206,965 35,355 65.039 361.980 1276,8741 (70.120) 292,373 361,980 1276,8741 {70,1201 307,359 The unreslricled general funds repres&nt the free funds of the charity which are not designated for particular purposes. As these may be for future prolècts or projects that will last for more than one year the Select Vesty have decid8d to designal8 fund8 for fijiure commitments. Such funds are not restricted funds by nature. 16 Analy81s of net assets botwaen funds Unr•$trl¢ted R•8trlcted funds funds 2022 2022 Total 2022 Fund balances at 31 December 2022 are represented by- Tangible assets Current asset811118bililies) 66,520 240.839 66,520 361,886 121,047 307,359 121,047 428.406 17 R•latod party trangacllons There were no dlsc108able related party transactions during the year {2021- none). 18 Cash generatod from operatlon• 2022 2021 Surplus for the year 29,526 76,410 Adjustments for.. Investrnent income recognised In statement of financial activOlie5 Fair value gains and losses on Inveslm8nts {14.372} 309 {11.3581 {675} Movements in working capital.. D6creasellincrease) in debtors (Decreaseyincrease in cTrditors 4,169 11591 14.4061 1,340 Cash generated frorn operatlons 19,473 61.311 14-