COMPANY REGISTRATION NUMBER: N1630824 CHARITY REGISTRATION NUMBER.. 104052 Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Unaudited Annual Report and Unaudited Financial Statements 30 April 2024
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Annual Report and Unaudited Financial Statements Year ended 30 April 2024 Pages Trustees, annual report (incorporating the directorfs report) 1to5 Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) 6t07 Statement of financial position Notes to the annual report and unaudited financial statements 10t015
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 April 2024 The trustees, who ar8 also the directors for the purposes of company law, pr8sent their report and the unaudit&d Annual Report and Unaudited Financial Statements of the charity for the year ended 30 April 2024. Chair's reF)Ort Bursary Fund Report for Year Ended 30 April 2024 It is my privileg8 to be Chair of the Fund and on behalf of my fellow Dir8ctors, to provide the Annual Report on the Fund for the year ended 30 April 2024. The Board would wish to acknowledge the excellent and continued contributions made during the year by the Treasurer Dr Roy Adair and the Company Secrelary Dr Bryan Keating, and as Chair. I would also wish to extend my thanks to all Dlrectors for their diligence and commitment to the work of the Fund. During tha year, Dr Adair decided to retiré as Treasurer, and evaryone would want to expr8s5 Since thanks to him for the huge contribution he has made as a founding Director, Company Secretary and lattedy Treasurer. We are pleased that he will remain as a D1CtOr. The Board was delighted to approve th8 appointment of William Wilson as a new Director and as the incoming Tr8asurer. During the year, Ronnle Armour resigned as a Director on taking up a senior appointment with the Departm8nt of Education. We are most grateful for hls contributlons durlng his period as Director. The role and purpose of the Fund is oullined in the attached Report and 50 during the year, the focus of the Board was to continue to provide bursaries for pupils entering or Continuing in third lèvel education. As part of its responsibilities. th8 Board also initiated two significant review5, in relation to the Financial Strategy and a Marketing and P R Strategy, and work on thes8 Strat&gl8s continues. Th8 Dlrectors have always considered it essential to ensure that all the activities and actions of the Fund comply fully with the relevant governing regulations and legislative requirements and we believe that, to the best of our knowledge, we complied with all such requirements in 2023-2024. Glven that the purpose of th8 Fund is to support and encourage pupils from the school in third level education, It is important that ther8 is the most positive relationship with the school and that continued during 2023-2024. We continuè to greatly appreciate the contributions from the Principal Mrs Mary Montgomery, the members of th8 Sanior Leadership Team and the support of the Principal's Secretary Mrs Joann8 Clarke and Mrs Kerry Deehan on our web pages. The school has fac8d many ¢hallenges during the p8riod In question and so the Board Is most grat8ful for th8 involvement of Mrs Montgomery in the work of the Fund. W8 were delighted with her award of the OBE during this year and her involv8ment in a several important working parties in education We also want to cOgnise and acknowledge the success of the school in a number of Awards and external examinations, all of which contribute to helping pupils b8 successful in third level education .
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontinu Year ended 30 April 2024 That relationship with the school also enabled the Fund to be aware of the progress of pupils who had previously been awarded Bursaries both though and beyond third level education and those involved with the Fund are particularly pleased to have been advised of the importance of those Bursaries to the former pupils. The Fund will continue to monitor those cohorts and has already benefitted from the strong endorsements of award winners. During the year 2023-24 the Board held six meetings. The Board continued to focus on those who subscribe monthly or on a one - off basis. which is the regular income providing the strong financial position of the Fund. The Fund also held a Dinner in Autumn 2023 which provided opportunity to update those present on the work of the Fund. An undoubted highlight of the Dinner was the contribution by a Bursary award winner who told his story of support both Ihrough his time at the school and also the importance of the Bursary through University. In the view of the Directors. it is such narratives which continue tojustify the work of the Fund in awarding Bursaries. We are pleased to report that, as the attached Accounts show. by 30 April 2024 the Unrestricted Funds were £96,465 (2023.. £91,211) having accounted for Bursaries and expenses. The Board annually reviews its reseNes and ¢onsiders them to be healthy. In keeping with our fiduciary responsibilities, the Directors invested part of the reserves in a higher interest rate. The Board continues to believe that th8 Stat8 of the funds is sufficient at present, given the increase in the number of awards, the increase in the value of each Bursary and also th8 Boards declared position of seeking to have sufficient funds to achieve and endowment position but that we must now secure future Bursary Awards by delivering the financial strat8gy going fomard. The Directors fimily believe that the Fund is proving invaluable In supportlng th8 boys from the school entering third level education and is commltted to ensure that the Fund continues to be managed in the most effective way . Slr Nlgel Hamilton K C B . D L . D. Univ (Hon) Reference and admlnistrative details Registered charity name Belfast Boys Model Bursary Fund (In M&mory of EW Davis) Charlty registration number 104052 Company registration number N1630824 Principal office Belfast Boys Model School Ballysillan Road Belfast BT14 6RB Registered office Belfast Boys Mixlel School Ballysillan Road Belfast BT14 6RB
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 30 April 2024 The trustees Sir N Hamilton KCB, DL (Chair) Mr G Nelson Mr T Andrews Dr R Adair CBE Ms M Montgomery Dr B Keating CBE (Se¢retaryl Mr M Gilmore QPM Mr F Shivers Mr W Wilson Mr R Amiour (Treasurer) {Appoint8d 27 September 2024) (Resigned 21 August 2023) Independent examlner Michael Flannigan Structure, governance and management Belfast Boys, Model Bursary Fund (In M8mory of EW Davls) Is a privat& company limited by guarantee and registered in North8rn Ir8land (Company Number N1630824). It is governed by its Articles of Association, dated 1 st April 2015 and is registered as a charity wlth the Charity Commlssion Northern Ireland (Charity Number NIC104052). The Memorandum of Association governs all relevant matters relating to Membership", becoming and ceasing to be a Member,. the Organisation of General Meetings,. the Role and Powers of Directors (including appointment and retirement). Administrative Arrangements,. and Directors Indemnity and Insurance. The Directors state that they have fully adhered to all such requirements and provlsions during the year In question. The Board of Directors held regular meetings during the year to review the progress of the fund and discuss and agree th8 futur8 dlrection of the fund.
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontlnued) Year ended 30 April 2024 Objectives and activities The charity's objects are to advar7ce and promote the education of the pupils at Belfast Boys, Model School by providing bursaries or other financial assistance to pupils who progress to third level education. Arising from the purposes, our activities focus on two key strands; fund raising and the creation of a clear, fair and equitable process for the making of the awards. As noted in last year's report the Board set an objective to make additional annual awards for HND and Higher-Level Apprenticeships. It is also important to say that the existence of the Fund and its core objectives were agreed with the school Board of Governors. as was the fijll participation of the then Principal. Mr Alan Logan as a Director of the Fund. The current Principal. Ms Mary Montgomery, is a member of the Board and fully endorses the work of the Fund. The directors have paid due regard to guidance issu8d by the Charity Commission in deciding what activities the charity should und8rtak8. Achlevements and porformance Our activities have been shaped by the n88d to ralsé sufficient fund5 to ensure that the awards, when made, ¢an be fully fund8d for the tenure of each bursary. It was determined by the Board that, initially, three bursaries should be awarded each year. The Board was of th8 vl8W that awards should be performance driven and was grateful that tha school 8ndorsed this approach and agreed to draw up the criteria against which the first three awards would be made. The school's proposal which was fully endorsed and agreed by the Board was to target three key areas of study in the school, namely: STEM subjects (including Technology, Mathematics and Science), Vocational subjects (including IT, Traveirrourism and Public Service) and General subjects (including History, Politics, Media Studies and Art). Further, it has been our ambition to be able to commit to the award of bursaries some years ahead and whilst this reinforced Ihe view that three was the correct number of wards to start with. we have taken action to increase the number of bursaries to be awarded. The school ensured that every pupil eligible for a bursary was aware of the criteria from the beginning f)f the sGhool year. Following examination results in Augijst paeh year, thrp.p. hiirsarips arp awardRd to the three pupils who best met the Griteria outlined above. Each bursary in total amounts to £3.600 and is paid over a period of three years dependent upon continuing academic attendance in further education by the pupils Goncerned. In additio[7, each year the Board considers the award of one-off awards on an ad-hoc basis.
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contInU} Year ended 30 April 2024 Financial review The Directors raised funds during the year by dlrect Contact with a number of former pupils, who were advised of the existence and purpose of the Fund, and then invited to contribute by a one-off gift, or by regular monthly donations through Direct Debit or both. It is the policy of the charity that unrestricted funds which have not b88n d8signated for a specific us8 should be grown to allow the Charity to adopt an endowment approach to funding that is looking to providing funding from investment income. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continu8 the chartvs Current activities while consideration is gtven to ways in which additional funds may be raised. Thls level of reserves has been maintalned throughout the year. During the year, the Fund raised £31.822 (2023.. £26,701) from donations, gift ald and bank interèst and after paying and providlng for Committed bursaries and expenses added £5,254 (2023: £7,797) to unrestricted funds which now total £96,495 (2023.. £91.211). This ensures that the Bursaries can be funded in the years ahead. The directors are pleased with the continuing support from both 8XlSting and n8w donors and b81ieve that the Fund has good pot8ntlal to grow in the fvlure. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small Companies, exemptlon. The trustees, annual report was approved on 31 March 2025 and signed on behalf of the board of truste&s by: SirN Director nKC
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Independent Examiner's Report to the Trustees of Belfast Boys Model Bursary Fund (In Memory of EW Davis) Year ended 30 April 2024 I report to the trustees on my examination of the Annual report and Unaudited Financial Statements of Belfast Boys Model Bursary Fund {In Memory of EW Davis) ('the charity,) for the year ended 30 April 2024. Responsibilities and basis of report As the trustees of the cotllpany (and also its directors for the purposes of corTTpany law) you are responsible for the preparation of the Annual report and Unaudited Financial Statements in accordance with the requirements of Charities Act {Northem Ireland} 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act.). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not r8quir8d to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examinalion of the Gharity's Annual report and Unaudited Financial Statements as Carried out und8r section 65 of the 2008 A¢t. In carrying out my examination I hav8 followed the gen8ral Directions given by the Charity Commission for North8rn Ireland under section 65(9)(b) ofthe 2008 Act. Independent exarnlner's Statement I have ¢ompleted my examination. I confirm that no matters have com8 to my att8ntion in connection with my examlnatlon giving me cause to believe that in any material respect: accounting records w8re not kept in Spect of the Charity as required by saction 386 of the 2006 Act. or the Annual report and Unaudited Financial Statements do not accord with those records; or the Annual rèport and Unaudited Financial Statements do not comply with the accounting requirements of s8Ction 396 of the 2006 Act other than any requirement that thè accounts give a 'true and fair. view which is not a matter considered as part of an indepèndent examination., or the Annual report and Unaudited Financial Statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limlted by Guarantee Independent Examiner's Report to the Trustees of Belfast Boys Model Bursary Fund (In Memory of EW Davis) (conunued) Year ended 30 April 2024 I confimi that there ar8 no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Michael Flannigan Independent Examiner FEB Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG 31 March 2025
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 April 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Other trading activities Other income 20,250 7,131 4,441 20,250 7.131 4,441 22.597 3.224 Total income 31,822 31,822 26.701 Expenditure Expenditure on raising frjnds Expenditure on charitable activities Total expendlture 4,240 22,328 4.240 22,328 1,000 17,904 26,568 26,568 18,904 Net income and net movement In funds 5,254 5,254 7.797 Reconciliation of funds Totsl funds brought fomard Total funds carrled forward 91,211 91,211 83.414 96,465 96,465 91.211 The statement of financial activities includes all gains and losses recognlséd In the year. All income and expenditure derive from continulng activities. The notes on pages 10 to 15 fomi part of these Annual report and Unaudited Flnanclal Statements.
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Statement of Financial Position 30 April 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 16 4,404 110,541 3,219 99,815 114,945 103,034 Creditors: amounts falling due within one year 17 18,480 11.823 Net current assets 96,465 91.211 Total assets less current liabilities 96,465 91,211 Net assets 96,465 91,211 Funds of tho charity Unrestricted funds 96,465 91,211 Total charity funds 18 96,465 91.211 For the year ending 30 April 2024 the charlty was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilitl8s.. The members have not requlred the company to obtain an audit of its Annual report and Unaudited Financial Statements for the year In question in accordance with section 476., The directors acknowledge their responsibilities for complylng with the reqUIrn8nts of the Act with respèct to accounting records and the preparation of Annual report and Unaudited Financial Statements. These Annual Report and Unaudited Financial Statements have been prèpared in accordance with the provisions applicable to companies subject to the small companies, regime. These Annual Report and Unaudited Financial Statements were approved by the board of trustees and authorised for issue on 31 March 2025. and are signed on behalf of th8 board by: SirNHa Director ilton CB, DL The notes on pages 10 to 15 fomi part of these Annual report and Unaudlted Financial Ststements.
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements Year ended 30 April 2024 General Information The charity is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charty in Northern Ireland. The address ofthe registered office is Belfast Boys Model School, Ballysillan Road, Belfast, BT14 6RB. Statement of compliance These Annual report and Unaudited Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, 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 (FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basls of preparation The Annual report and Unaudited Financial Stat8m8nts have been prepared on the historical cost basis, as modifled by the revaluation of certain financial assets and liabilit18s and Investment propertles measured at fair value through incom8 or expenditure. The Annual r8POrt and Unauditéd Financial Statements are prèpared in sterling, which is the functional currency of tha entity. Golng concern There ar8 no material unc8rtaSnties about the charity's ability to ¢ontinue. Judgements and key sources of estimation 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 expectations of fijture events that arè believed to be reasonable under the circumstances. Fund accounting Unrestricted fvnds are available for use at the dis¢tion of the trustees to further any of Ihe charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted fiJnds 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
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements {ct)ntInu} Year ended 30 April 2024 Accounting policies {¢ontinued) 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 benefrts associated with th8 transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular cat8gories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gfft, receipt is probable and its amount can be measured reliably. legacy income Is recognised when retsipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless thls is impractical to measure reliably, in which case the value is derived from the cost to tha donor or the estimated resa18 value. Donat8d facilities and s8Nic8s are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunt88rs. incom8 from contracts for the supply of services is recognised with the delivery of the contracted service. This is classif18d as unrestrict8d funds unl8SS there is a contractual r8quirement for it to be spent on a particular purpose and retumed if unspent. in which ¢ase it may be regarded as rèstricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot bè fully recovered, and is classified under headings of the statement of finan¢ial activities to which it relates.. expenditure on raising funds include5 the ¢ost5 of all fundraising a¢tivities. 8vents, non-¢haritable trading activities. and th8 sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitabl8 alms for th8 b8nefit of its b8neficiari8s, including those support costs and costs relating to the governance of the charity apportioned to charitable activiti8S. other expenditure includes all 8xpenditure that is neither r81at8d to raising fijnds for the Charty nor part of its 8xp8nditur8 on charitabl8 activiti8S. All Costs are allocated to exp8nditure cat8gori8s reflecting th8 use of the resource. Direct costs attributable to a single aclivity are allocated directly to that activty. Shared costs are apportioned beeen th8 activities they contribute to on a reasonable. justifiable and consistent basls. Flnanclal instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 11
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements (continved) Year ended 30 April 2024 Accounting policies (¢ontinued) Financial instruments (contlnued) 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 consideralion 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 valuo recognised in income and expenditure. All other such investments are subsequently measured at 05t less impairment. Other financial instruments. includlng derlvatives, are initially recognised at falr value, unl8SS payment for an asset is deferred beyond normal business t8rms or financ8d 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 rat8 of intèrest for a slmilar 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 latIOnshIp. Financial assets that ar8 measured at C05t or amortised cost are reviewed for objective evidence of impairment at the end of each r8POrtlng date. If there is objective evidence of impalnn8nt, an impairment loss is recognised under the appropriate heading in the statement of financial a¢tivities in which the initial gain was recognised. For all equity instruments regardless of significance, and othèr financial assets that ar8 individually significant, these are assessed individually for impairment. Other financial assets are etther assessed individually or grouped on the basis of similar credit risk characteristics. Any verSalS 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. Limited by guarantee elfast Doys Model Bursary Fuiid (in Memory of EW Davis) was regislei-¥d 011 21 April 201J as a company limited by guarantee, not having a share capital. The liability of each member is limited to an amount not exeding £1. It is also a charity registered with HM Revenue & Customs. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and gifts 20,250 20,250 22.597 22.597 12
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements (¢ttInU) Year ended 30 April 2024 Other tradlng activities Unrestricled Total Funds Unr8Stricted Total Funds Funds 2024 Funds 2023 Fundraising ev8nts 7.131 7,131 880 880 Other in¢oma Unrestricted Total Funds Unrestrlct8d Total Funds Funds 2024 Funds 2023 Gift Aid receivable 4,441 4,441 3,224 3.224 Costs of other tradlng activities Unrestricted Total Funds Unrestrlct8d Total Funds Funds 2024 Funds 2023 Fundraising costs 4,240 4,240 1,000 1,000 Expenditure on charitable actlvfties UnStrICted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank charges Comput8r running costs Sundry expenses A¢¢ountancy Grant funding of activities (note 13) 161 103 47 417 21,600 161 103 47 417 21,600 168 123 13 900 16,700 17,904 168 123 13 900 16,700 22,328 22,328 17.904 13
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements (Gontinued) Year ended 30 April 2024 10. Independent examinatlon fees 2024 2023 Fees payable to the independent examiner for- Independent examination of the Annual report and Unaudited Financial Statements 480 900 11. Staff costs The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefils of more than £60.000 during the year {2023- Nil). 12. Trustee remuneration and expenses No remuneration or oth8r banefits from employment with the charity or a related entity were retsived by the trustees. 13. Grants payablo Bursary Grants to indivlduals Bursary grants are available to every pupil at Belfast Boys, Modèl School. While the Board has ultimate responsibility for both the raising of funds and the awarding of Bursaries, the criteria for those Bursaries are drawn up by th& school senior management and thèn considered by and approved by the Board and are awarded based on criteria drawn up by the Board of Directors of the charity. Three boys are awarded a bursary of £3,600 each over three years with further one-off awards mad8 annually at the Board's discretion. 14. Directors None of the directors (or any persons connected wlth them) received any remuneration or benefits from the charity during th8 yèar. 15. Taxation The charity is exempt from tax on incorne and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 lo the extent that these are applied to its charitable objects. 16. Debtors 2024 2023 Other debtors 4.404 3.219 14
Belfast Boys Model Bursary Fund (In Memory of EW Davis) Company Limited by Guarantee Notes to the Annual Report and Unaudited Financial Statements (continued) Year ended 30 April 2024 17. Creditors: amounts falllng due within one year 2024 2023 Accruals and deferred income Other Credltors 480 18,000 1.023 10.800 18,480 11.823 18. Analysis of charitable funds Unrestrlcted funds At 1 May23 At 30 Apr 24 Income Expenditure General funds 91,211 31.822 (26,568) 96,465 At 1 May22 At 30 Apr 23 Income Expenditur8 General fvnds 83,414 26,701 (18,9)4) 91,211 19. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 114,945 (18,480) 96,465 114,945 (18,480) 96,465 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 103,034 (11.823) 91.211 103,034 {11,823) 91,211 15