CHARITY REGISTRATION NUMBER: NIC102490 Apostolic Work Down & Connor Unaudited Financial Statements 30 November 2024 D C CORR AND COMPANY Chartered accountants 29B Main Street Randalstown County Antrim BT413AB Apostolic Work Down & Connor Financial Statements Year ended 30 November 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10 Apostolic Work Down & Connor Trustees. Annual Report Year ended 30 November 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2024. Reference and administrative details Registered charity name Apostolic Work Down & Connor Charity registration number NIC102490 Principal office Down & Connor Centre Xavier House 156 Cliftonpark Avenue Belfast BT14 6DT The trustees Mrs M McGrath Mrs G Goodall Mrs J O'Boyle Mrs P White Mrs V O'Brien Mrs M Buckle Mrs F Doole Mrs V Hegarty (Resigned 3 March 2024) (Resigned 3 March 2024) (Resigned 3 March 2024) (Resigned 3 March 2024) (Appointed 3 March 2024> (Appointed 3 March 2024) (Appointed 3 March 2024) (Appointed 3 March 2024) Independent examlner Dermot Corr (FCAI DC Corr and Company 29B Main Street Randalstown County Antrim BT413AB Structure, governance and management Apostolic work, Down & Connor is an unincorporated charity. The board of Trustees are responsible for the strategic management of the charity. Trustees are responsible for making decisions on matters of day to day running of the charity, future projects and all matters concern to the charity. The Trustees also make decisions on how funds are allocated and on bills to be paid. New trustees are inteNiewed by the Board of Trustees and then put to the Membership Executive for approval. The charity ensure new Trustees receive relevant training from the President and the board of Trustees. Risk Mana ement The Trustees review the major risks which the charity faces and believe that the policy on reserves, as stated below provides sufficient resources in the advent of adverse conditions. The trustees examine business and other operational risks faced by the charity and confirm that systems to monitor and mitigate significant risks are in place. Apostolic Work Down & Connor Trustees. Annual Report (continued) Year ended 30 November 2024 Objectives and activities The purpose of the charity is the prevention of relief of poverty, the advancement of religion, the financial hardship or other disadvantage. Through fundraising activities and donations, we are able to respond to request from Missionaries in overseas and developing countries. Throughout the year we have funded projects for the relief of poverty, educationltraining, religious activities, medicallhealthlsickness, community transport, counsellinglsupport, disability, oversea aidlfamine relief, accommodationlhousing, community development, playgrouplafter schools, volunteer development and general charitable purposes. Main activities Donations, member subscriptions, Gift Aid, cake sales, coffee mornings, Christmas & Easter events, table quiz, ballots, tombola, bingo tea. Public benefit The Trustees have had regard to the Public Benefit Requirements of the Charity Commission. Achievements and performance We have provided details of all our donations received and missionaries helped. There was a reduction of £16,585 in incomes received this year. Covid 19 pandemic still continues to have an impact on donations from parishes in comparison to pre-pandemic years. This has a direct impact on the amount of expenditure sent to the missions. Flnanclal revlew The results are set up on pages 8 to 16 and show for the year ended 30 November 2024, Apostolic Work Down and Conor had a surplus of funds of £18,503. The closing bank balance is £304,185. During the year, there was a reduction in income as Covid 19 still has a significant impact on incomes received. The amount of expenditure has significantly reduced this year in line with the reduction in incomes. Reserves olic The reserves are part of the charity's unrestricted funds that are freely available to spend on any of the charity's purposes. The reserves policy of the charity is to hold reserves that represent a minimum of three months expenditure of the organisation. The Statement of Financial Activities shows a net increase in Unrestricted funds of £18,503 and a change of restricted funds of £Nil. The charity has total charity funds of £494,396 at 30 November 24. Plans for future periods The charity intends to continue to meet its objectives in the future, maintaining the projects it currently supplies. Apostolic Work Down & Connor Trustees. Annual Report (continued) Year ended 30 November 2024 The trustees, annual report was approved on 19 Marth 2025 and signed on behalf of the board of trustees by.. Mrs V O'Brien Trustee The notes on pages 10 to 16 forni part of these financial statements. Apostolic Work Down & Connor Trustees. Annual Report (contlnued) Year ended 30 November 2024 Dec 2023- Nov 2024 Inconw From Branches 1 Aghagalbn 2 Ahoghl 3 Ak*rgrovelCwmkn 4 Anttin 5 Ardkeen 6 Ardoyne 7 Attral 8 Bawcast 9 BatyckrelBatygowdn 10 Batymart 11 8atymena 12 Batymoney 13 Batyvoy 14 Bangor 15 BrrJht 16 Bryansford 17 Cargin 18 Camk)ugh 19 CanKkferguSlWh￿ehead 20 Cast￿ME1￿n 21 Chrst fv Redeemer 22 Co￿ra￿le 23 Corws Chrsts. 24 Crossgar branch 25 Cushendal 26 DerN4ghy 27 DoMpatrKk 28 Drumaroad 29 Dtumbo 30 Dunsford & ArdgLas5 31 Dunkiv 32 GÈnavy 33 GÈnravel 34 GreetKaSt 35 Hannahstowi 36 HO￿ Rosary 37 Hts￿ Tmty 38 HO￿v￿10d 39 Kkoo 40 Klkeel 41 Kfykagh 42 Larne 43 Loonevst V De Paul 1,682.00 1,665. 120.00 6,335.00 60.00 1,742.1)) 1,665.(M) 480.00 6.575.(M) 360.00 240.00 1,524.35 1.524.35 7,785.00 I,ioo,00 8,885.00 3,259.24 150.00 3,259.24 150.00 54,000.00 54,000,00 3,945.50 420.00 4,365.50 1,519.(Kl 1,332.00 427.00 6,600.08 120.00 1,639.00 1,332.00 427.00 9,402.08 2,802.00 3,421.00 10,420.00 3,430.00 3,421.(M) 10,540.00 3,550.(M) 120.00 120.00 4,075.00 4,075,(YJ 4,150.00 95.00 250.￿) 200.00 4,350.(KJ 95.00 490.00 240.00 3,809.80 780.00 4,589.80 Apostolic Work Down & Connor Trustees, Annual Report (contlnued) Year ended 30 November 2024 44 LEb￿enIH0￿ Fam 45 Lsbum 46 LoLtghnsÈnd 47 Lower Moume 48 Moneygkss 49 NeKrast 50 Our Lady Queen of Peace 51 Ne￿wnardslc0Mtser 52 Portaferry 53 Portrush 54 POrtste￿ert 55 Rar￿3ÈtQ 58 Rasharkln 57 Sa￿trEk1 & Cartkmannon 58 Sacred Heart 59 Saul 60 St Agnes, 81 St Anne's 62 St Anthony's 63 St Bemadette's 64 St Brbbj's 85 St Coknck's 66 St Gerard's 67 St John's 68 St Luke's 69 St Makchy's 70 St Mary's, Chapel Lane 71 St Mary's on the HI 72 St Matthews 73 St Mrhaels 74 St 0￿er Pknnkett 75 5t Pauls 76 St Pete¢s 77 St Teresa's 78 Strangford 79 Whteabbey 80 Anonyn￿u5 Donatlon 81 UNKNOWN 82 UNKNOWN 83 UNKNOWN 84 UNKNOWN 85 UNKNOWN 11,471.50 20.00 2,204.00 200.00 13,675.50 220.00 3,430.00 3,430.00 96.00 2,664.00 96.00 2,664.00 4,332.00 4,332.00 2,559.39 4,365.00 4,301.01 240.00 1,415.00 2,799.39 5,780.00 4,301.01 120,00 360.00 132.00 140.00 1,570.00 540.00 240,00 120.00 2,990.00 132.00 343.00 12,729.81 5,826.50 6,485,00 2,630,00 203.00 11, 159.81 5,276.50 6,245.00 io.ci) 5,696,83 230.00 5,926.83 1,682.71 1,682.71 120.00 120.00 loo.00 1,380.00 loo.00 1,520.00 20.00 120.00 500.00 10.00 295.00 560.00 300.00 500.00 10.00 295.00 560,00 300.00 TOTAL SENIORS 30.00 189 176.72 14 289.00 203 495.72 GIftAld 14,515.20 2,310.00 220,320.92 Down & Connor Centre Apostolic Work Down & Connor Trustees. Annual Report (contlnued) Year ended 30 November 2024 Mi55ionarie5 Hel Dec 2023- November2024 Name Sr Veronica Ralfertv Mother Astrabrama Fr Alan Glynn CSSR Sr Margaret Hosty Fr Brian Byrne SPS Bishop Fortes Brotherjoe Gilleece Sr Pushpa Rani Fr Martin Cushnan CSSR Bishop Lawrence Plus Fr Denis O'connor MHM Sr Geraldine Henry DC Sr Anna Landy RGS Pur School building- education Medical - Disabled Children Church Building Medical - Alds/HIV Educatlon Education and healthcare Education, Food & Water Education, building ol toilets Food, Education, Clothin8 4 Piolects Catechist- Rellgious camps Medical - Dlspefisary Education of disabled children Education- School Uniforms. Sanitary Care Community Development- Electricity, Renovate Kitchen, Street child￿n, Elderlv Education and School supplies Church buildin8 (multi purpose hall) Food & Water- flood victims Medlcal- Alleviate sufferln8 preventlon of dlsease, dignity in death Self Help Water Well and tanks Church building- Retreat Centre Food & Water Food & Water Church 8uildin8- New roof Food & Water Food & Water- Dlsplacement Camp Church Buildin8 Shipping Cgst Church buildin8 Church building- new monastery Poor Clares Moblle Medic31 Clinic Educatlon, food and school Supplies Church Items Bullding- Girls Hostel Pri50n Ministry- Food. Medlcal, Edu¢ation Food, Medical orphans and widows Chur¢h Buildin8 Self Help- Sewing Machines School buildin8 Feeding Programme Food for Students Noviciates, Cornmunity Development Food Support 8uildin8- compound security wall Education-classroom renovation Church Buildin8- Grotto Self Help- Womens Skills ￿ntre Count Argentina Ar8entina Amount 4.Cm.C I.C￿.C s,[K￿.[ 5.tiJJ. 5,Cl)J.C i.soJ.( Brazil Cameroon Cape Verde Ghana 1,s(x).c 20.￿. Kenya Kenya Kenya 3,CW. 6,Cth.CQ Sr Anthony IBri8idl Devlin Sr Scholastica Mutua Fr Bernard Ng3ruiya Fr Raphael Man8lti Kenya Kenya Kenya Kenya 5,CQ).(XJ 3,CttJ.LM) 2,CQ). 2,m). Sr Patrlcla Spei8ht FMSA Sr Mirlam Du88an Fr Charlie Belrne MV6 Fr Leo Traynor5PS Fr Peter Muwanya 8anda Fr Ignatio Yoh3ne Fr Ce¢ili¢ Silwamba Fr Charles Manyenje Fr Sam Udogbo Cssp Fr Donal O'cathain SMA Fr Paul Hardy SPS Fr Brendan Kélly SSC Sr Immaculata Sr Lourdes Mary Fr Marius Nihal Perera Msgr Aristaric Bahati Fr Peter Z Margara Sr Frances Rooney FMSA Fr Paul S5enyon8a FrAIoysius Lumala Srjudine Jacobs Frsimeon Peter Fr Charles L Kaweesl Frjoseph Kawesa Sr Rosalèen Murray Fr Ruth Mutale Sr Gwen Mulenga Sr Baptista Kaoma Fr Emmanuel Kabin8a Fr Patrick Cashin Kenya Kenya 5.CX)).CrfJ 5,C(O.CrfJ 5.CIXI.(M) 3,In).fKJ 170). I,cw.LN) 5.C(O.Cl) lcm.co 5,(M)).cMJ 5,¢XXJ. 250.crfj s,(xx).IxJ 15CO.C¥) Malawi Malawl Malawl Malawi Malawl Nl8eria Ni8eria Nigeria Philippines Sri Lanka Sri Lanka Tanzania Tanzania U8anda U8anda U8anda U8anda Uganda U8anda Uganda Vietnam Zambia Zambia Zambia Zambia Zambia 2,SIXJ.(M) 6,5U).IX) 5,CKM).(KJ I,c(o. 2,0)) rx) 2,c(o.rx) 3,(JX).OJ 3,5(K).(h) 1,2CD.(M) S,(NX).LX) I,(￿. 2,5￿. 1,5(n. 2,(KA). TOTAL MISSIONARIES HELPED 2024 157.950.00 Apostolic Work Down & Connor Independent Examiner's Report to the Trustees of Apostolic Work Down & Connor Year ended 30 November 2024 I report to the trustees on my examination of the financial statements of Apostolic Work Down & Connor I'the charity'} for the year ended 30 November 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 {Northern Ireland) 2008 (the '2008 Act'l. You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In Carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9llb} of the 2008 Act. Independent examiner's statement I have completed my 8xamination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept as required by with section 63 of the 2008 Act., or the financial statement$ do not a¢¢ord with those records., or the financial statements do not comply with the accounting requirements of the 2008 Act; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities {A¢¢ounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I confinn that there a understanding of t e no. other matters to which your attention should be drawn to enable a proper ounts to be reached. Dermot Corr (FCA) DC Corr and Company Independent Examiner 29B Main Street Randalslown County Antrim BT41 3AB 19 March 2025 The notes on pages 10 to 16 fomi part ofthese financial ststements. Apostolic Work Down & Connor Statement of Financial Activities Year ended 30 November 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Charitable activities Investment income 29,304 190,783 3,568 29,304 190,783 3,568 38,288 199,997 1,955 240,240 Total income 223,656 223,656 Expenditure Expenditure on charitable activities Total expendlture 205,153 205,153 339,145 205,153 205,153 339,145 Net incomellexpenditure) 18,503 18,503 {98,905) Reconclliation of funds Total funds brought forward Total funds carried forward 475,893 475,893 574,798 494,396 494,396 475,893 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 10 to 16 fonn part of these financial statements. Apostolic Work Down & Connor Statement of Financial Position 30 November 2024 2024 2023 Note Fixed assets Tangible fixed assets 12 180,000 180,000 Current assets Stocks Debtors Cash at bank and in hand 13 14 6,230 14,605 304,586 8,839 287,054 325,421 295,893 Creditors: amounts falling due wlthln ono year Nèt Current assots 15 11,025 314.396 295,893 Totsl assets less current liabilities 494.396 475,893 Net assets 494,396 475,893 Funds of the charity Unrestricted funds 494,396 475,893 Total charity funds 16 494,396 475,893 These financial ststements were approved by the board of trustees and authorised for issue on 19 March 2025. and are signed on behalf of the board by.. Mrs V O'8rien Trustee The notes on pages 10 to 16 fomi part of the$e financial ststsments. Apostolic Work Down & Connor Notes to the Financial Statements Year ended 30 November 2024 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is Down & Connor Centre, Xavier House, 156 Cliftonpark Avenue, Belfast, BT14 6DT. Statement of compliance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement 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) (Charities SORP (FRS 102)) and the Charities Act {Northern Ireland) 2008. Accounting policies Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectstions of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 10 Apostolic Work Down & Connor Notes to the Financial Statements {contlnuedJ Year ended 30 November 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of Income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general voltjnteers. income from contracts for the supply of seNices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 11 Apostolic Work Down & Connor Notes to the Financial Ststements (contlnuedj Year ended 30 November 2024 Accounting policies (continued) Impaimient of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such Investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that 8re individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 12 Apostolic Work Down & Connor Notes to the Financial Statements (continued) Year ended 30 November 2024 Donations and legacies Unrestricted Total Funds Unfestricted Totsl Funds Funds 2024 Funds 2023 Donations Donations 28,804 28,804 29,988 29,988 Legacies Legacies 500 500 8,300 8,300 38,288 29,304 29,304 38,288 Charitsble activlties Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Collections from branches 190,783 190,783 199,997 199,997 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 3,568 3,568 1,955 1,955 Expènditure on charitable activities by fund type Unrestricted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities Support costs 162,119 43,034 162,119 43,034 292,154 46,991 292,154 46,991 339,145 205,153 205,153 339,145 13 Apostolic Work Down & Connor Notes to the Financial Statements (continued) Year ended 30 November 2024 Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Education Catechists, Seminaries, Noviciates Community development Building Schools buildings Church Buildings Medical Food and water Sacred vessels and materials Self help projects Transport Governance costs 36,500 8,000 5,000 1,000 14,000 31,800 19,000 33,400 4,169 9,000 250 36,500 8,000 5,000 1,000 14,000 31,800 19,000 33,400 4,169 9,000 250 43,034 57,700 10,000 40,400 7,500 6,500 67,000 30,500 47,800 9,204 13,300 2,250 46,991 43,034 162,119 43,034 205,153 339,145 14 Apostolic Work Down & Connor Notes to the Financial Statements (continued) Year ended 30 November 2024 Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 2,010 1,980 10. Staff costs The average head count of employees during the year was 212023.. 2). No employee received employee benefits of more than £60,000 during the year12023'. Nil). 11. Trustee remuneration and expenses No Trustees received ay remuneration during the year (2023.. £Nil). Trustee received reimbursement of stationery and travel expenses of £381 (2023'.£1,265) 12. Tangible fixed assets Long leasehold property Cost At 1 December 2023 and 30 Novomber 2024 180,000 Depreciation At 1 December 2023 and 30 November 2024 Carrying amount At 30 November 2024 180,000 At 30 November 2023 180,000 13. Stocks 2024 2023 Stock 6,230 8,839 14. Debtors 2024 2023 Prepayments and accrued income 14,605 15 Apostolic Work Down & Connor Notes to the Financial Statements (Continued) Year ended 30 November 2024 15. Creditors 2024 2023 Creditors and accruals 11,025 16. Analysis of charitable funds Unrestricted funds At l December 2023 At Gains and 30 Novembe losses r 2024 Income Expenditure General funds Fair value reseNe 454,700 21,193 223,656 (205,153) 473,203 21,193 475,893 223,656 (205,153) 494,396 At 1 December 2022 At Gains and 30 November losses 2023 Income Expenditure General funds Fair value reserve 553,605 21,193 240,240 (339,145) 454,700 21,193 475,893 574,798 240,240 (339,145) 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 180,000 325,421 (11,025} 494,396 180,000 325,421 (11,025) 494,396 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 180,000 295,893 180,000 295,893 475,893 475,893 16