Charity registration number 1149540
Company registration number 07988621 (England and Wales)
THE GIRAFFE PROJECT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
THE GIRAFFE PROJECT
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr I Dalton
Mr R A Baines
Mrs D Baines
Mrs G Horstkotte-Wesseler
Mr Iosif Igna
(Appointed 4 July 2024)
Charity number
1149540
Company number
07988621
Registered office
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Independent examiner
Colin Dadswell FCA FCCA DChA
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers
NCBA Bank Kenya
Mara Road
Upper-hill
P.O Box 44599-00100
Nairobi
Kenya
HSBC
1 Corn Market
High Wycombe
Buckinghamshire
HP11 2AY
THE GIRAFFE PROJECT
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5 - 6
Statement of financial position
7
Notes to the financial statements
8 - 15
THE GIRAFFE PROJECT
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum of Association, the Companies Act 2006 and "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) (effective 1 January 2019)".

Objectives and activities

The Charity's objective of The Giraffe Project (operating as The Giraffe Project children's charity) as stated in the Memorandum of Association is:

 

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

We are advancing the education of underprivileged children and young people in Nairobi, Kenya by sponsoring school children and college students, and by carrying out various infrastructure and other projects in the schools  where our students are placed. 

 

Our achievements in 2023  

  

We sponsored 343 children and young people through all levels of education in 2023.

We concluded a major programme to improve the sanitation and drainage in ByGrace secondary school. (The floods of 2024 later revealed how necessary this work was as the school survived largely unscathed whereas many other properties suffered considerable damage.)

  

Primary education   

In 2023 we funded 155 children in two primary schools - Green Pastures (Kibera) and Tumaini (Mathare North).

 

Secondary education   

We sponsored 21 Junior High School students 103 and students at ByGrace High School in 2023, many of them coming from the poorest areas of Kenya, such as Dandora the site of Nairobi’s principal waste dump and sewage recycling lagoons.

 

Higher education   

We sponsored  64 students through higher education in 2023. The courses are diverse with some of the more academic students sitting for degrees and diplomas whilst others pursue more practical programmes. In each case, our aim, and the aim of our partner schools, is to help these  young  people  overcome  their disadvantages  and  go  forward  into  employment  and  lead productive and fulfilled lives.  

  

Alumni 

We remain in close contact with many of our alumni , who have formed an official Giraffe alumni association. The main goal of the association is to support its members who may be seeking work, and to provide a point of meeting and maintaining relationships.

THE GIRAFFE PROJECT
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Financial review

In 2023 we did not work with any professional fundraisers. No income (contracts or grants) was received from any central government or local authority, and we have no trading subsidiaries.  

 

Our main source of funding is sponsorship and donations from individuals and organisations across the world. We also undertake other fundraising activities, such as the Brussels 20km run.

 

The Charity received income of £229,773 (2022: £242,916) and had expenditure of £219,570 (2022: £314,967) during the year ended 31 December 2023. After adjustments for currency losses of £15,336 (2022: Currency gains £429) the overall movement result for the year was a deficit of £5,133 (2022: Deficit of £71,622)

At 31 December 2023 the Giraffe Project had a positive fund balance of £116,506 made up of £86,102 in restricted funds and £30,404 in general unrestricted funds. The Board will continue to support education projects at schools where our sponsored students will directly benefit from the investments made, such as new classrooms and the provision of computer networks to facilitate IT training.

We will continue to support education projects at schools where our sponsored students will directly benefit from the investments made, such as new classrooms and the provision of computer networks to facilitate IT training.

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s sponsorship expenditure which currently corresponds to between £50,000 and £100,000. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. Reserves were below the target level at the balance sheet date and the Trustees are looking at ways to improve the position in the coming year.  

 

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied 

that systems are in place to mitigate exposure to the major risks.

Major risks

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Giraffe Project is governed by a Memorandum of Association date 31 January 2012 when it became a charitable company. From foundation in 2006 until this date The Giraffe Project was constituted as a Charity, governed by a deed of trust.  

 

The Giraffe Project is managed by 5 volunteer trustees supported by a Kenya 

executive and 2 staff members. In Europe we are supported by a wonderful group of volunteers who help us to raise funds. We’d like to thank each and every one of them for their hard work, creativity and encouragement. They are the unsung heroes of the Giraffe Project. 

 

General responsibilities of Trustees/Directors 

Trustees are appointed by the existing Board of Trustees, having regard to the skills, knowledge and experience needed for the effective leadership and administration of the charity. Alongside the Chair and the Treasurer, individual trustees are responsible for overseeing fundraising, sponsorship, communications, and our Kenya office. 

 

All trustees are unpaid, but they are eligible for reimbursement for travel and administrative expenses. No trustee received any payment in 2023 and flights and accommodation were paid by the charity for one trip to Kenya from Europe for two trustees. 

THE GIRAFFE PROJECT
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -

Changes to the Board of Trustees

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mr I Dalton
Mr R A Baines
Mrs D Baines
Mr J Koenemann
(Resigned 31 March 2023)
Mrs G Horstkotte-Wesseler
Mr Iosif Igna
(Appointed 4 July 2024)
Recruitment and appointment of trustees

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees' report was approved by the Board of Trustees.

Mr I Dalton
Mr R A Baines
Director
Director
6 September 2024
THE GIRAFFE PROJECT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE GIRAFFE PROJECT
- 4 -

I report to the Trustees on my examination of the financial statements of The Giraffe Project (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

 

1

accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the 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).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Colin Dadswell FCA FCCA DChA
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Dated: 9 September 2024
THE GIRAFFE PROJECT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:
Donations and legacies
3
3,730
207,743
211,473
228,752
Charitable activities
4
16,790
1,367
18,157
14,092

Investments

5
143
-
143
72
Total income
20,663
209,110
229,773
242,916
Expenditure on:

Raising funds

6
1,928
-
1,928
499
Charitable activities
7
66,556
151,086
217,642
314,468
Total expenditure
68,484
151,086
219,570
314,967
Net (expenditure)/income for the year/
Net (outgoing)/incoming resources
(47,821)
58,024
10,203
(72,051)
Other recognised gains and losses
Other gains or losses
13
(15,336)
-
(15,336)
429
Net movement in funds
(63,157)
58,024
(5,133)
(71,622)
Fund balances at 1 January 2023
93,561
28,078
121,639
193,261
Fund balances at 31 December 2023
30,404
86,102
116,506
121,639

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE GIRAFFE PROJECT
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
3
23,894
204,858
228,752
Charitable activities
4
9,674
4,418
14,092

Investments

5
72
-
72
Total income
33,640
209,276
242,916
Expenditure on:

Raising funds

6
499
-
499
Charitable activities
7
60,781
253,687
314,468
Total expenditure
61,280
253,687
314,967
Net (expenditure)/income for the year/
Net (outgoing)/incoming resources
(27,640)
(44,411)
(72,051)
Other recognised gains and losses
Other gains or losses
13
429
-
429
Net movement in funds
(27,211)
(44,411)
(71,622)
Fund balances at 1 January 2022
120,772
72,489
193,261
Fund balances at 31 December 2022
93,561
28,078
121,639
THE GIRAFFE PROJECT
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 7 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
14
6,957
9,227
Cash at bank and in hand
110,102
112,412
117,059
121,639
Current liabilities
15
(553)
-
Net current assets
116,506
121,639
The funds of the Charity
Restricted income funds
17
86,102
28,078
Unrestricted funds
30,404
93,561
116,506
121,639

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 6 September 2024
Mr I Dalton
Mr R A Baines
Director
Director
Company registration number 07988621 (England and Wales)
THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
1
Accounting policies
Company information

The Giraffe Project is a private company limited by guarantee incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum of Association, the Companies Act 2006 and "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) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Liabilities are recognised when a constructive obligation exists, the payment is probable and the obligation can be measured or estimated reliably.

 

Resources expended are allocated to the particular cost centre to which they relate and include irrecoverable VAT.

THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
- 9 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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 when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
3,730
825
4,555
1,786
13,046
14,832

Sponsorship income

-
200,156
200,156
22,090
185,567
207,657

Gift aid

-
6,762
6,762
18
6,245
6,263
3,730
207,743
211,473
23,894
204,858
228,752
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£

Brussels 20km sponsored run

5,727
-
5,727
6,952
-
6,952

Other events and appeals

11,063
1,367
12,430
2,722
4,418
7,140
16,790
1,367
18,157
9,674
4,418
14,092
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
143
72
THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
6

Raising funds

Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Advertising
1,928
499
7
Expenditure on charitable activities
2023
2022
£
£
Direct costs

Student sponsorship costs

150,368
181,914
Grant funding of activities (see note 8)
32,226
94,626
Share of support and governance costs (see note 9)
Support
33,608
36,488
Governance
1,440
1,440
217,642
314,468
Analysis by fund
Unrestricted funds
66,556
60,781
Restricted funds
151,086
253,687
217,642
314,468
8
Grants payable

 

 

2023
2022
£
£
School development - buildings and classrooms
-
13,056
School development - sanitation
29,328
57,029
Computers, books and equipment
1,676
10,993
Other school grants
1,222
13,548
32,226
94,626
THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 12 -
9
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£

Bookkeeping services

8,424
-
8,424
8,341
-
8,341

Bank charges

1,444
-
1,444
1,073
-
1,073

Kenya office

17,420
-
17,420
19,404
-
19,404

Management costs

6,320
-
6,320
7,670
-
7,670
Accountancy and IE
-
1,440
1,440
-
1,440
1,440
33,608
1,440
35,048
36,488
1,440
37,928
Analysed between
Charitable activities
33,608
1,440
35,048
36,488
1,440
37,928

 

10
Trustees

None of the Trustees received any remuneration as Trustees in the year (2022: £nil).

 

The Trustees were not directly reimbursed for any out of pocket expenses during the year. As part of the charity's governance, the charity paid £5,716 (2022: Three Trustees for £6,226) for travel and accommodation expenses for two Trustees to facilitate a monitoring visit to Kenya to meet with key stakeholders and £168 towards travel costs for two Trustees (2022: £Nil).

 

The aggregate value of donations made by the Trustees in 2023 was £6,954 (2022: £3,814).

11
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Giraffe Project Kenya Office
2
2
There were no employees whose annual remuneration was more than £60,000.
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
13
Other gains and losses
Unrestricted
Unrestricted
funds
funds
2023
2022
Gains/(losses) upon:
£
£
Foreign exchange
15,336
(429)
14
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Gift Aid
6,363
6,245
Prepayments and accrued income
594
2,982
6,957
9,227
15
Current liabilities
2023
2022
£
£
Other payables
553
-
16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2023
Incoming resources
Resources expended
Gains and losses
At 31 December 2023
£
£
£
£
£
General funds
93,561
20,663
(68,484)
(15,336)
30,404
Previous year:
At 1 January 2022
Incoming resources
Resources expended
Gains and losses
At 31 December 2022
£
£
£
£
£
General Designated
50,000
-
-
-
50,000
General funds
70,772
33,640
(61,280)
429
43,561
120,772
33,640
(61,280)
429
93,561
THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 14 -
17
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 January 2022
Incoming resources
Resources expended
Balance at
1 January 2023
Incoming resources
Resources expended
Transfers
Balance at
31 December 2023
£
£
£
£
£
£
£
£
School Development
-
15,954
(12,774)
3,180
825
(1,222)
-
2,783
Individual Student Sponsorship
26,750
191,811
(195,174)
23,387
206,918
(143,438)
(3,548)
83,319
General Educational Needs
45,739
1,511
(45,739)
1,511
1,367
(6,426)
3,548
-
72,489
209,276
(253,687)
28,078
209,110
(151,086)
-
86,102

Restricted Funds

 

School Development - Given to specific projects funded by the Charity such as the construction of the Giraffe Education Centre School. All funds have now been expended and the fund is closed.

 

Individual Student Sponsorship - Given on a monthly, semester or annual basis for the education of a child or teenager. Restricted to the education of students in the sponsorship programme.

 

General Educational Needs - Funds for student sponsorship in excess of that required for direct funding of the children's education is held for use more generally in supporting their education. Funds are granted to the schools which the children attend in response to grant applications to assist with the supply of new equipment or buildings.

THE GIRAFFE PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
18
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances are represented by:
Current assets/(liabilities)
30,404
86,102
116,506
93,561
28,078
121,639
30,404
86,102
116,506
93,561
28,078
121,639
19
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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