Page 4 PREMIER ELECTRICS CHARITABLE TRUST Statement of financial activities Year ended 31 March 2024 Total Total Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Note Incoming resources Donations 3,024 3,024 3,024 3,024 Total incoming resources Resources expended Governance activities 314 3,108 3,108 3,108 (84 84 Total resources expended Net outgoing resources for the year Reconciliatlon of funds Total funds brought forward Transfers 3,108 84 (84) (84) 87 87 171 Total funds carried forward 87 The Statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gain5 and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pagos 6 to 8 lorm part of these financlal statements. Page 5 PREMIER ELECTRICS CHARITABLE TRUST Balance sheet 31 March 2024 2024 2023 Note Current assets Debtors Cash at bank 3,024 87 3.027 87 Creditors 13,024) Net current assets 87 Total assets less current liabilities Net assets 87 Funds Unrestricted income funds Restricted income funds 87 Total funds 87 These financial statements were approved by the trustees and authorised for issue on 12 November 2024 and are signed on their behalf by". Mr M Scullion Trustee The notes on pages 6 to 8 form part of these financlal statom8nts. Page 6 PREMIER ELECTRICS CHARITABLE TRUST Notes to the financial statements Year ended 31 March 2024 Accounting policies Basis of accounting The financial statements have been prepared under the historical cost convention and in accordance with 'Accounting and Reporting by Charities: 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),. The financial statements have been prepared on a going concern basis which assumes that the charity wi51 continue in operational existence for the foreseeable future. The trustees believe that it is appropriate for the financial statements to be prepared on the going concern basis. The entity is a Public Benefit entity as defined by FRS 102. The financial statements are presented in sterling, which is the functional currency of the entity. Donations received Donations received are recognised in full in the statement of financial activities in the year in which they are receivable. Resources expended Resources expended are recognised in the period in which they are incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the fees and costs linked to the strategic management of the charity. Fund accounting The charity has one type of fund for which it is responsible, and which requires separate disclosure as follows.. Unrestricted funds.. Funds which are expendable at the discretion of the committee in the furtherance of the objects of the charity. In addition, funds may be held in order to finance capital investment and working capital. Page 7 PREMIER ELECTRICS CHARITABLE TRUST Notes to the financial statements Year ended 31 March 2024 2. Incoming resources Unrestricted Total Funds Total Funds Funds 2024 2023 Donations received 3,024 3,024 3. Costs of charitable activities by fund type Unrestricted Total Funds Total Funds Funds 2024 2023 Governance 3,108 3,q08 84 4. Costs of charitable activities by activity type Activities undertaken directly Support Total Funds Total Funds costs 2024 2024 Governance 3,108 3,108 84 5. Independent examiner's remuneration The independent examiner's remuneration constituted an independent examination fee of £950 and additional other services of £1,500. 6. Staff costs and emoluments The average number of persons employed by the charity during the year amounted to Nil (2023: Nil). There were no staff costs or emoluments incurred during the year (2023: £Nil). 7. Debtors 2024 2023 Other debtors 3,024 8. Creditors 2024 2023 Other creditors - Accruals 3.024 Page 8 PREMIER ELECTRICS CHARITABLE TRUST Notes to the financial statements Year ended 31 March 2024 9. Funds Opening Incoming Outgoing balance resources resources Closing balance Unrestricted income funds Restricted income fvnds 87 (84) Total Funds 87 (84) 10. Analysis of net assets between funds Nel current assets Investments Total Unrestricted income funds Restricted income funds Total Funds 11. Related party transactions One of the trustees is also a director of Premier Electrics Limited. During the year Premier Electrics Limited made donations of £3.024 (2023: £Nil) to Premier Electrics Charitable Trust. At the year end £3,024 {2023: £Nil) was owed by Premier Electrics Limited to Premier Electrics Charitable Trust. Key management personnel include all trustees who hold authority and responsibility for planning, directing and controlling the activities of the charity. During the year no trustee received any remuneration (2023: £Nil) and no trustee expenses have been incurred (2023. £Nil). No other transactions with related parties were undertaken such as are required to be disclosed during the year. 12. Controlling party During the year the charity was under the control of its trustees.