FRIENDS OF BRITANNIA
PANOPTICON MUSIC HALL TRUST
(scio)
ANNUAL REPORT ANI) FINANCIAL
STATEMENTS FOR THE YEAR
ENDED 31 JULY 2025
scorrIsH REGISI-ERED CFJARITY NUMBER: SC029031

FRIENDS OF BRJTANNIA PANOPTICON MUSIC HAI..L TRUST (SCIO)
(REFF,RRF.D TOAS fBPMI-IT)
ANNUAL REPORT FOR TFIE YEAR ENDED 31 JULY 2025
FRIENDS OF BRI'fANNIA PANoFficoN
MUSIC HALL TRUST (SCIO)
The financial statements coinply wilh ciirrent statutory rL'quircmcni8, and the charity's
rules and regulalions.
OBJECTIVES ANDACTIVITIES
The charity's objectiv¢s and aims are..
lo advance the conservation and presci'valioii of the Britaniiia l)aiioplicoii Music Flall and
¢nsure th¢ building's future a5 a viablc visitor allra¢iioii and a living Inuseum of popular
entertainments from tlie miisic hall auditorium lo the ¢illic ai'eo. To promot¢ the
involvement of the community in diis unique biiilding as a learning, ai'chival and
educalional resource for ihe wid¢r comtnunity and to engendei. further volunteer support lor
the day to day rlinning thereof.
To always promote and hold th¢ musi¢ hall as a building of historic interesl and
importance and to secure its permaiient pirscrvation for the benetit of the public as an
outstanding cxamplc of a Victoi'ian Music Hall and a rare survivor of its genre.
'ro facilitate the use of ils premises on siich tenns as the Ti'iistees deem fit for any purpost,
public or private, and in particular foi. niiisic hall and other pcrforman¢¢s, Meetings.
exhibitions, leclures, dinneis and other entertainmentS- dlsD, for shops, restaurants or
business premises to enable the foregoiiig PLirposcs to bc carricd out cffcctivcly as
required.
SUMMARY OF 'fHE MAIN AL'fivi'i"IF.S IN RP,I,A'I'ION TO
THESE OBJEC'I S
ConservatiOFF andpreservalion
During this financial year a new feasibility shidy lias bccn commissioned by the FBPMIIT
and Panopticon Trust and a first draft lias been coiiipleted. .1 lie Panopticon 'lrust (the BPI"

e5tablish¢d in 2018 foi. Ili¢ sol<; i)vi'yy.s¢ of(le1c l ing? w'jili Ilie acquisiti()n of the music hall,
stakeholder manageinenl, and 4L'JelDiiincnl of tlie le<,sibilily sliidy) lcd Ihc way with the
ncw study. Unfoitlinatcly. +he P(InoiJli¢<)ii '[ rLisI wLI'e iiol able to iiegotiate a way foi'ward
with the ownei's ot'lhc biiildii)L 211d ilie staf'f of Ihc Bi'itEl111iia Paiiopticon and the FBPMHT
diiY¢tor, Judith Bowei-s. fcli tl)tsl Lhi: di¢ift fec2sibilily stLidy was incomplete and rcquired
several significant ¢han(ycs. TIIL triiNILes agi'ccd witli Ilic fiiidiiigs of directoi. and the staff
and <ifter a meeting witli the l)aiiopticoii I I'iisl il was dg71'¢ud ihal ￿1r8 Bowers dnd lh¢ siaft-
ot. Britannia Panopticon woiild voinliiiiie tlie work on the li",IsibTI ity slLidy with the ai'chitect,
MelaniL" Hdy ofHamiltoii HLly Vrfin .loiiker Ai'chilccls li) 2026.
Operation and community involvcincnt
'I'lie community has conliniied lo b¢ inivaived in tlie work of the FBPMHT wilh d series of
open days kmd cven15 operated by ilie Dirtsctor, st49tf of thL Ri'itannia Panopticon Music
Hall and trustees of fBPMI i-r ii)cliidiiio: Silcnl Filiii nights witli live band, miisic hall
shows, Laurel & Hardy F. ilin NigFlItq
Sioi-ylelliiig7 Lveiils. Paiilotniime aiid a mvnihly
coinedy Llub giving aspiringy coiiii(lians the LlianLL lo sland on ihg very stage where Stan
LaLirel made his debut.
The Glasgow International C.oinedy festival a180 hostcd a couple of festival eveiits in the
music hall. Th¢ celebi'ation o F Sian L.aiircl and his del)ul iii Ihc building is ai) eiiduring
appeal to the public. e5pcciall J. lo coiiiedians froni acros5 111¢ g'l(Ibe. I'he second year of
Th¢ Laurel Awards, Ilie Pai)opliLiiri % (Iwii award eiiLoi117g7iiigy new comedy talcnt was also
laiinched dLiring tlie CJ icf. i'lic finJl in Jiily was a sell oiit siiccLss.
The final of thc Scoltisli Poetry Slaiii ivas h¢ld iii tlic Panopticoii Nvith the winner going on
to coinpcte at the World Poeli? Sla￿.
This financial year has a150 sccii a iiew ILlatioiiship develop willi GMAC in 103 Tron&Jale.
I'he Britannia Panopticon also coiiliniies lo allra¢l Schools ¢md institutions of turther
education and this year has seen piipils froiD Oal<giDve Prirnaiy School cngagiiig with the
history of the building as Pc1rt of a scliool projcct witl) tIIL charity, Magic Torch Comix. The
Olltcome of the projcct was the creation of a comi¥ book deviscd by Ihc school Children and
based on the stori¢5 told lo Ili¥ni ivli¥n they visiled Il)e buildii)g. 'I'he resulting coimic book
was litled The Panoplicon Aftei- l)dl'k ¢ind fLatLired a iiuinber of characlcrs from the history
of the biiilding and mtJ%ic hall.
Local musician, Keniiy LVlcMiiiirF<il iilso iised tlie IKiisic liall foi. the launch of his
collection of Glasgow folk si?ngis eiiliilcd HLai'l of IliL City.
Commiinity Interesl C"OlMpaiiv, .li1sanii, also iised the Iniisic Ilcill lor the laiiiich of dn
aiiihology of stoi'ies Kvi'iltcn LIV 1¢ IILiinl)ei' of writeis wh() slrii()<)Ic with varioiis neuro-
divergency.
Judith Bowers was en(Jaged tc) dn talks t-oi. tlic UJA ill thc uiiivcrsity of Glasgow and tours
for Scottish Gradiiate SLliool for Ai-ls SL Huiiianitics ancl C-,lasgow City Heritage Trust.

Jam Hot. a Lompany that orgJ<iiiises Inolivdlioiial talk% lor the cominLinity, hosted an evcnt i
the music hall inspiring new 8LOttisli Lntrep￿lleurs.
The Scottish Civic Trust Inade ¢in initial vi8it with soiiie. ol'iliLir slatyand clienls with
diverse protected chai'actci'istics. It is h()ptrd ihal u rLla i()1'1£51ip between ihc Scottish c.ivic
Triist and Britannia PanoptiLon MLISIC I lall will bc l Lirihei. Llevclopcd iii the next financial
year.
Publicity and Marketino
Social media platfornis sucli &iS l-.aL'LbooK, Tik'l ol<, Ingt<lg'i'aiii, LinLcdln, t41iieSky and
th¢ websit¥
continLIL lo lic tIiL Inain advcitising tools. In
addition activities are advertised in ILallL.tb prodiiced by the £latTieam in the miisic hall.
Jiidith Bowers also launched thL first bool( in a trilo¥l)y SLL 111 Ilie Panopticon in 1908. The
first book is called Thc Ma(Fic Lanlei'n and il l)as beeii writtcn lo cncouragc people of all
ages and backgroiinds to lake ali iiitci'e5t in the Eli'itai)Iiia Pcinopticon Miisic Hall, even
.ht not enjoy l)isiory. The boolis al'e bas¢d oli I'eal historic event5 timc
though they mi"
tr2velling through the lens of the Ill1& gic lanteiii tliai 18 on displdy in Ilie music hall.
Angus White of Direct Di%tribLitioii ver)1 kiiid Iy P¢iicI toi- IL¢illLiS aLlvertising Britannia
l)anopticon which weit algo disiributcd by An¢FLlS WliifL q Loinp1c Ily to hotels, travel
hubs, b￿'S and Ihealres.
walkingy tour aboLlt Gla5gFow's enteitainimLnt Iiisioi'y culiiii1il< ling in the Brit1< niiia
Panopticon was devised 10 proniole Ilig niii.qio l)iill Liiid ledl".
-'15 adiyeitisingj ihe walking tour
were dislribiitcd through the TIC oli Biicliaii(In 8tKcl.
The music hall was furthei. pi'omoted diirin¥ a seri¢5 of eoi)IlTILiniiy podcasis by
CIC Jasami. ACHIEVb.M b'N'I'4 ANI) PI.'RF()RMIlNCL
Summary ofihe pliciin aeliievemenlj of ilie Lhai'ily cliirip7g Ihe./inaneialperiod In the interests
ot. Lredtingy an inclusiv¢ enviroiiiiiLnt wliLYlclidir access 1£ Iiow available via a Stair Cliinbcr
which was gifttrd to lis by a private anonymoiis doiiL)r. I i is lioped thai in the coming
financial year, I" August 2025 - .31"JLily 20?6 tliis will open liinding revenue lo support an
education program and morc coiiin)Linily Iise.
We Iiavc succcssfully Inanaged lo L'n¥agyL Wlth iyjoru oi'gaiiiJiltions within the
ommunity such as Jasami. GMAC and thc Scottisli Civic I"rust.
Although it is far from finished, significant progi'ess ha% been made with the compleiion
of the lirst pari of a teasibilily stlidy lor thc fiitiire ol- ilie iii'.Isic hall.
Visitor numbers increased this ye¢ir dLie lo Ilie laLincli
) Ar)I'jl ?025 ol'a series or
walking tours fociising on ihL eiitertaiiiinLni kiistoi'y ot- G l&lSLYOW. Tlie loiirs started from
the St Enoch Stibway Station and cndcd in Ilic Bi'itaiinia l)qnopiicon wliere the visitors

werc given a brief history of ihe inLlbiC hall and a Lliance to look at the exhibits and
enjoy the music hall.
There has been a notable rise in intcrcsl from tlic piiblic in gcn¢i?I due to the increase in
PLiblicity from the walking loui's Ri)d Icaflet distribution. Also, confidencc is starting to
return to th¢ iiitemational lourist industry, which we hope will in¢i'eas¢ furth¢r in the
coming financial year.
Significant Events
Doors Open Day in Septeinber 2024 saw attendance ii)crease on the pr¢vious year,
how¢ver it is still significantly les5 than pre-pandemic leve5s.
Wc received a vcry kind donatioii froin our electriciaii, Davy Diitch, who paid for and
installed new lighting foi- the charity in the ba¢kstag¥e and slafrfa)Eas which had been cast
into darkness after the ancient PJlrip li￿t5 finally dieiS.
In July 2025 we received a very kiiid donation from an anonymous donor of over £8,000 to
enable us to purchase a slair climber which will convey wheelchairs iiscrs safely up the
stairs to the music hall aiidiloriLIIII.
The Magic Lantern was laiinched. The Magic Laiitem books designed to engage members
ofthe public in tlic history of tlie Inusic hall and Glasgow. Using real ¢v¢nts. people and
plaGes. the story is tuld ovei. three books.

ANNUAL REPORT
FOR THE YEAR INDID 31 JULY 2025
FINANCIAL REVIEW
ITh¢ Charity reported total incoming resources 01 £55,847.4? t"oi' the year ¢nd¢d 31
July 2025 (2024: £59,372.69). Total resourccs expended diiring ihe year were
£53,649.17 (2024: £59,963.15).
This has resulted in a net surplus of £2,198.25 for the year (2024: deficit of £590.46).
At the year end, the charity Iield totsl tunds of £12,745.25 (2024.. £10,547.00), all of
which are unrcstrictcd and available lo buppoi-l Ihe ()ngoing aclivities of the charity.
During the year, the chkuity received restricted iiicomc of £8,270, which was fully
utiEised in accordance with its. iniended putyi)sc.
'll]e charity continues lo operate on a i'eceipls and P<iynieiits basis. During the year, a
stair climber was purchased, funded by an <inonymous donation, and has b¢¢n treated
in line with this basis of accounting.
Th¢ trust¢¢s r¢maiii fo¢useLI on inaintaining financik)I s￿bilItY wliilc continuing to
support the preseivalion aiiil promotion of thu Elril¢iniiia Pcill()Pticoii Miisic Hall. Whil¢
exlemal progress relating to the widei. Panopticon"I"nist lias been limited, the charity
continues to progress its objectives tlii'ougli its DWII <lLilVlties and p￿ttnershIps.
Reserves policy
It is the policy of the chai'ily lo use Linrestricled reserves lo assist in the acquisition, rescue
and conservation of the Britannia Panoi)ticon Music klall in 11ddition to meeting nornial
operational costs. Restriclcd rescrves relate to timing differences between receipt of
funding and ¢xp¢nditure oli irstricled projects.
Golng Concern

Aftcr a grim few ycars of pand(,Inic aiid post paiideinic ti'adii)g7. wc are optimistic that Ihe
coming year {2025- 2026) will pi'ovi(le a i)ioi'e posiliv¥ Oliilook loi. louri5m and the
economy which will be i-enected iii oiii. visiloi. IlLllI)bers and Iradiiig. We, the trustees.
reniain confident tliat Ihc music hall and ¢lidi-ity reinain a IToinu? ¢oncern.

FRIENDS OF BRITANNIA PANoiyficoN
MUSIC HALL TRUST (SCIO)
ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2025
Future Plans
During the ncxt financial ycai. we intend to:
improve and hopefully compSele the teasibiliLy sliidy wiiih Hainilton Hay
Van Jonker Ai'chiteLtS
Complete negoliatioiis witli the owners of ihc bii'.'Iding
Create a more divvibe progrnm ofevenls espeLially for tainilies
Fiirther develop oui. relationship willi the Scottisli Civic Trust and otlier
community organisations
Attract more funding for the dcvelopmeiit ol'course stlidies and education plans
for schools and inslitLltions of furthei. education
Increase visitor niimbers
Continue to work towards a siistainable fiiture
STRUCTURE, GOVERNANCP, ANI) MANACJEMFN'I,
Governing documenl
On 10 October 2016 ilie Triist convcrted to a SCIO (Scotti51i CliaL'ltable In¢orpordled
Organisation) governed by a constiliilion.
Recruittnent and appointinent of ii¢w tl-USt¢¢s
Trustees are appoinled by the existing trLlSteLS upon rdtifityaiioii by Ihe
m¢mbers. K¢y manag¢mtiit
The trnstees and the Direclor are the key management of the Trust being responsible for the
decisions as to the strategy and diiEcting, controlling, rlinning And operating the campaign.
the venue and the Trust.

FRIENDS OF BRITANNIA PANOPTICON MUSIC HALL TRUST {SCIO)
ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2025
REFERENCE AND ADMINISTRATIVE DETAILS FIUENDS OF
BRITAKNIA PANOPTICON
MUSIC HALL TRUST (SCIO)
Registered Charity number
SC029031
Prin¢ipal address
113-117 Trongate
Glasgow
GI 5HD
Trustees
Lawrence Dunn - Chairman
Nick Barrett - Secretary
Gary Graham - Treasurer
Graham Hunter- trustee
Tom Kelly - truste¢
Veronica Low - trustee
Director
Judith Bowets
Independent examiner
Erik M¢Call
EDA Professional s¢rviGes LTD
Suite334, Baltic Chambers
50 Wellington Str¢et
Glasgow

FRIENDS OF BRITANNIA PANOP I'ICON MUSIC IIALI. TRUST (SCIO)
ANNUAL R￿P0K'I'
FOR THb YEAR ENDED 31 JULY 2025
STATEMENT OF TRUSTEEJ RESPONSIBILITIES
The trustees are responsibl¢ for pi'cpai'iiig the Rcport of tlic Ti'uslees and the financial
statements in accordanLe with ¢ippli¢abl¢ laiv aiid rtgulalioiis.
The trustees are also responsible foi. ensuring that adequate aLcoiinting records are
tlldintained that are sufficient io show and eAplain lh¢ ¢hai-ily Iransactions and dis¢lose with
rcasonable accuracy at any time th¢ findncial positioii of the cliarity and enable them to
ensure that ¢hc accounts comply with thc Charities and Ti'iist¢c Investment (Scotland) Act
2005 and the Charities Accouiits (S¢otlai?d) Regiili< tions 2006. '1'hey are also responsible
for sk)feguarding the assets of-the vharity aiid en5uringJ ilieir proper application in
accordance with charity law, aiid hLn¢e for taking Itasonable step8 tor the prevention and
detection of fraud and othci. irreglilai'ilies.
Statement as to Disclosiire of Information to Ind¢pend¢iit EYamin¢r
So far as th¢ Irustee5 are awai'e. thcrL is no I'elevant infoi'ii)atioii ofwhich the charily's
Independent Examiner is unawai'c and Lacl) truslec has takci) all thc steps hclshe ought to
havc tak¥n as a Iiwstee in ordei. to Inake liiinselflhcrsclt awarc ot any i'elevant information
and to establish that the charity's Independenl Exdirincr is awdre of that infomiation.
Independent Examiner
Erik Mccall in EDA Professional services LTD, acted as independent examiner for the year
ended 31 July 2025 and has indicatcd his willingness io ¢oii¢inu¢ in oifice.
Approved by order of thc board of triislees on {1910J12026) and signed on its
behalf by.. L Dunn Chairman Trustees

I Itport on the finaiicial sl<ltei)ieiilb C)f l. I'iends of Bi-ilaiiiiicl Paiiopticoii Music Hall I"rust
(scio) toi. the yeai- elided .1 l July 2025. which arc sel oul on P¢igJe5 9 to 13.
l-his report is made solLIy LO tIIv Lil£ll-iIy's L1'USteLS, £15 a body, in ¢1Lcordance wilh RLgulation
11 {3) of the Chai-ilics Accoiiiil-., (,8('.ntlai)Il Rcgiil<llioiis 211nCI. My indcpcndent examinei s
woi'k has be¢n undcitakcii si) Iliclt I IniL,ht stc11e to the chai'ity's ti'iistees those matters ain
required to statc to ihein iii indepLndLlIt Lxainiiier's i-epoi'l aiid for no other purpose. To
Ihe fiille81 extent perinittLd l)), lai¥. l (lo not accept or a.%siime Irsponsibility to anyone other
than the charity. the chai-ity's Inoinbcrs 1¢ S cl bodv diid thc chai'ity's trustecs for my
independent exainincr's work. foi. tliis i'cpoi1. or foi. the opiiiioiis I have formed.
Rcspective responsibilities of Ilie Lrustees aiid indepciidLlIt exaininer
The cliarity's trustees are rcsp0115iblc foi- Ilic pi'epai'alioii ofr the fiiiancial 5tateiiients in
accordance with the lei'ms of Ility fharilies Trustee Iiiveslinenl (SLotland) Aci 2005 and the
Charities Accounts (Scotland) RcgLilali0118 200() (<lS aiMcndcd). The charity's trustees
considci. that thc aiidit rcquircmcnÉ of RcgLilalion l O (l ) (d) of the Charities Accounts
(Scotland) Regulations 2006 doe￿ nol apply ai)d Iliilt an iiidependent examination is needed.
It is my i.espon5ibility to:
examine the financial sldlciiir.iit5 I'cquil'ed Linder 5eclioii 44 (1) (c) of the Act and to stale
wligther particular Inallc1-s ha'iv tionie lo Imy dltenlion.
Basi5 of independeiil Lxair iiiei % I'er.orl
My examinatioii is cai-ried out ip. c?ccoI'd8iicc Kvith Rlgiilalion I l of the Charilics Accounts
(Scotland) R¢gulalioii.% 200C). Ali LAaininalioii iiicliides a rcvicw of Ihc accounling records
kcpt by the charity and a coinparis011 of the fin<lncial staleineiils presented witli those record
It also includes con5idcration ol-
any uniisual ilems or ditsclosui-L5 in the linancial slaleiiieiits aiid seeks explanations frvni
the trustee5 coiicerning any SLILh m¢llters. ThL procedures Liiiderlaken do not provide all
thc cvidcnce that woiild be iYqiiirL.d in <in audit, aiid conscquently iio opinion is givcn as
to whcthei. the fiiiancial stalcnients pi'csent a 'triie aiid fair, vieiv and the report is limited
to thosc mattcrs sct out iii the statcmciil bclow.
Independent exaininei'5 Stateiiif'nl
In (lie course of my exdminatii)n. iio iiialt¢i- h¢lS com¢ to Iny att¢iilioii-
(l ) whicli gives me reason2L blc c?J.%L ID heliLve that iii dlly InRlei'ial re.%pecl ihe requirement5
to keep accounting I'ccoi'd% in accoifl(Iiioe scctioii 44(1) (a) of tlic Cliai-ilics and Trustee
Invcstment (Scotlaiid) Act 2.00fj LTrl?(I licgii11< lion 4 of tlic Cliai'itics Accounts (Sco¢land)
Regiilalions 2006.
to prepare financial stalcii]eii'LS wliicli accoi'd with tlie accoiii11iiig records, and

to pr¢par¢ financial statements whi¢h Comply with the arxounting requirements of
Regulation 9 of the Charities Accounts (Scotland) Regulations 2006
have not been met. or
(2) to which, in my opinion, atlention should be drawn in order to enable a proper
understanding of the financial statements to be reached.
Signed ￿ MCc_4ll_... Erik Mccall
EDA Professional Services LTD
Suit¢ 334, Baltic chamb¢rs
W¢llington St
Glasgow
Date: If i f 1201£

FRIENDS OF BRIIANNIA PANOI)I'ICON MUSIC HAI.L"I"RUST (SCIO)
AKNUAL REPORT
FOR TFIE YEAR ENDED 31 JULY ?025
Notes
Unrestrictc
Restricle
Total
10
RECF.IPTS
Donations , Legacies , Loans
4,285.35
8,270.00
12,555.3
Charitable Activities
24,339.09
her Trading Activities
18,952.98
Investment
Total Reciepts
47,577.42
8270.00
55,847.4
PAYMENTS

Raising Funds
8891.i9
Charitable Activilies
Support ofThe Britannia
Panopticon Music I lall
36,487.58
850
37,337.1
Purchas¢ of fixed assets
7420
Total Payments
45.J7L).17
8270
53649.1
Surplus l Deficit for year
2198.25
2198.25
Nct Movcmenl
2198.25
RECONCILIATION OF BALANCLS
Total Brought Fonvard
10547
'rotal Carried Forward
12,745.2
CASH IN HANDAI. BANK
OPENING BAI,ANCE
l U547
Net Movement
2198.25
CLOSING BALANCE
12,745.25

FUNDS
Unrestricted
12,745.25
Restrictrd
TOTAL
12,745.25
3. Other Trading Activities
2025
2024
Shop Sales
3128.52
6369
Bar Sales
15824.48
22094
28463
4. Raising Funds
Cost of Goods
Sold
2030.73
5548
Bar Cost
6860.88
6599

5. CHARITABLEACTIVITIES COST
DIREcr
SUPPORT
TOTAL
COSTS
COSTS
35609.47
1727.70
37,337.17
6. DIRECT COSI'S OF CHARITABLE ACTIVITY
2025
2024
Administrntiv¢ Running
costs
6629.47
13002
Salaries
28.980
30639
Repairs and Maintenanoe
396
12
7. SUPPORT COSTS
Independent examination
fee
1727.70
8. Trustees Remunerdtion
There was 170 PEnuneralionpaid lo Ilwlees

9. Movem¢nt in flind5
InLoining
rcsoiirccs
LxpLndcd
Moveimeiit
UNRESTRICTED
CJeneral fund
47.577.4?
j,379.17
2198.25
RESI'RIC'I"
8270
R270
TO'fAL
FUNDS
55847.42
53649.1
2198.25

FRIENDS OF BRITANNJA PANOPTICON
MUSIC HALL TRUST (SCIO)
AKNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2025
ACCOUNTING POLICIES
Accounting convention
The financial slateinents have been prepared under the historical cost tyonvention.
13
The prin¥ipbil ￿c0unlln8 policies adopted in t]ie preparalion ofthe financial
statements arc as follows.
Income
All income is accoiinted lor on a receipt's basis.
Resources expended
Resources expended are aLcounted for on a payinents b<lSiS and ar¢ recognised when thee
expendilure is paid. Expenditure is inLliisive of VAT.
Charitable activities
These are costs attributable to tlie objects of ihe charity.
Support costs
Support costs include governance costs attributablc to compliance with the charity's
conslitiitional and slatutory requiiriiienls.
und accounting
Funds held by th¢ charity arc eiih¢i':
Unrestricted funds - these are tunds which C¢ln be used in accoi'dance with the charitable
objects at the discretion ot thc Irustees.
Rcstricted funds - thcse are funds thal oiily l)e used l.or Ilie particiilar or restricted
purpose as sp¢cifi¢d by Lhe donor.