Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312454032260false32023-09-01No description of principal activity32024-08-31 09747885 2023-09-01 2024-08-31 09747885 2022-09-01 2023-08-31 09747885 2024-08-31 09747885 2023-08-31 09747885 2023-09-01 09747885 2022-09-01 09747885 c:RegisteredOffice 2023-09-01 2024-08-31 09747885 d:CurrentFinancialInstruments 2024-08-31 09747885 d:CurrentFinancialInstruments 2023-08-31 09747885 c:FRS102 2023-09-01 2024-08-31 09747885 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09747885 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09747885 b:Trustee1 2023-09-01 2024-08-31 09747885 b:Trustee2 2023-09-01 2024-08-31 09747885 b:Trustee3 2023-09-01 2024-08-31 09747885 b:UnrestrictedFundsGeneral 2023-09-01 2024-08-31 09747885 b:UnrestrictedFundsGeneral 2024-08-31 09747885 b:UnrestrictedFundsGeneral 2023-08-31 09747885 b:TotalUnrestrictedFunds 2024-08-31 09747885 b:TotalUnrestrictedFunds 2023-08-31 09747885 b:TotalRestrictedIncomeFunds 2024-08-31 09747885 b:TotalRestrictedIncomeFunds 2023-08-31 09747885 c:FullAccounts 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 09747885
Charity number: Pending










LUCY AND THE HORSEMAN FOUNDATION
(A company limited by guarantee)







UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the company, its Trustees and advisers
1
Trustees' report
2 - 6
Statement of financial activities
7
Balance sheet
8 - 9
Notes to the financial statements
10 - 17

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024


Trustees
Marcel Jung, Trustee (appointed 25 August 2015)
Carol Jung, Trustee (appointed 25 August 2015)
Neil Pattison, Trustee (appointed 1 June 2016)

Company registered number
09747885

Charity registered number
Pending

Registered office
28 Harrow Way
Maidstone
Kent
ME14 5TU

Accountants
IT & Accounting Solutions Limited
Certified Public Accountants
28 Harrow Way
Maidstone
Kent
ME14 5TU

Page 1

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present their annual report together with the financial statements of the company for the  1 September 2023 to 31 August 2024The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

l Policies and objectives
 

The Charity was previously known as YOLOSOMIC (You Only Live Once SMake ICount) until 17August2021 when the name was changed to Lucy and the Horseman Foundation.
The Charity would like to support the following charitable areas:
• The prevention or relief of poverty
• The advancement of education
• The advancement of religion
• The advancement of health or the saving of lives
• Relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage
• Any other charitable purposes
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

l Strategies for achieving objectives
 

The company's objects are stated in wide terms and are the pursuit to charitable purposes which are exclusively charitable according to the law of England and Wales. In practice the company pursues these objects by making donations to other charities which fall within its areas of interest. The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the company's aims and objectives and in planning and settling grant making policies
 

l Activities undertaken to achieve objectives
 

The Charity's principal activity through the year was the provision and distribution of donations and grants to charities and selected narrow amount of individuals, and no change is envisaged in the immediate future.
 

Page 2

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 
Objectives and activities (continued)

l Grant-making policies
 

The Trustees apply the funds of the charity at their discretion and in accordance with the charitable purposes and objectives of the charity.
The Trustees consider the distribution of beneficial grants on its behalf and to make recommendations in accordance with the charitable purposes and objectives. Any decision whether to award a grant remains solely the responsibility of the Trustees.
The amount of work or number of projects that can be supported by the Trustees is necessarily limited to the amount of funds that are available for distribution each year. The Trustees have determined that the current priorities for funding are:
• The advancement of the Christian faith within local communities and across the world - the provision of places of worship, raising awareness and understanding of religious beliefs and practices, carrying out religious devotional acts, carrying out missionary and outreach work.
• The relief of poverty within local communities and among the world’s deprived and needy peoples, with particular focus on Kent or as determined by the trustees from time to time and in accordance with this policy;
• The advancement of education - this means to promote, sustain and increase individual and collective
knowledge and understanding of specific areas of study, skills and expertise.
The priorities for support will be reviewed by the Trustees every one year and may be changed depending upon circumstances and the perceived effectiveness of the application of funds. Any change to these priorities must still fulfil the charitable purpose and objectives of the charity.
The decision of the Trustees on whether to award a grant is final. The Trustees are not obliged to provide an explanation to applicants in the event that their application is not successful.
 

l Main activities undertaken to further the company's purposes for the public benefit
 

The Charity's principal activity through the year was the provision and distribution of donations and grants to charities and selected narrow amount of individuals, and no change is envisaged in the immediate future.
 

Achievements and performance
 

l Main achievements of the company
 

Establishing Lucy and the Horseman Foundation (formerly YOLOSOMIC) was motivated by a few factors; firstly our Christian faith and desire to see those in our community who are in need given assistance and dignity, secondly our own challenges with our special needs daughter and also watching close family members and friends struggle with life threatening illnesses and the impact this has on their family, and finally our belief in the importance of education and training as well as assistance through support groups and other specialised charities and the valuable role this plays in improving lives.
In July 2018, our daughter Lucy Jung was diagnosed with an incurable rare cancer which she fought courageously and without complaint for 2 years until she passed away in July 2020, aged 12.  Lucy means Bringer of Light and she was a Warrior; Brave and Irrestitible.  There were various challenges she faced during her brief life and these experiences have taught us so much on determination, endurance, adventure, sense of humour, value and worth and contentment. 
 

Page 3

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 
Achievements and performance (continued)

l Review of activities
 

During the year the Charity continued its philanthropic activities, even in a small way, in support of religious institutions and poverty relief as follows:
• Jubilee Church (charity no. 1168027) is a charity which give significant finance into both local and international projects.  Locally these projects include providing food parcels to those in need within the Maidstone area, once a month putting on a 2-3 course banquet for the homeless, outings for the elderly who would otherwise not have social interaction, activities and events for women at a local women's shelter, engaging with the youth.
• Internationally projects include Happy Feet, which provides new school shoes for children in extreme poverty in South Africa, sponsoring orphans in the Ukraine for their daily care and education.
• This year we have also supported a couple of individuals who have faced a financial shortfall making life difficult or recovering from a long term illness.
 

Financial review
 

l Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

l Reserves policy
 

The Trustees consider it is essential to maintain a substantial level of reserves to ensure funds are always available to meet their charitable and other commitments.
 

l Principal funding
 

The Charity is greatful for the corporate donors that donated a total of £12,195 (2022: £18,400) during the year.
 

Structure, governance and management
 

l Constitution
 

Lucy and the Horseman Foundation is registered as a Charitable Company Limited by Guarantee and was set up by a Memorandum of Association on 25 August 2015.  Originally the Charity was incorporated as YOLOSOMIC and operated under that name until 17 August 2021 when a change of name was filed with Companies House.
The Charity's objects are specifically restricted to further such purposes which are regarded as exclusively charitable under the laws of England and Wales as the trustees from time to time think fit.
 

Page 4

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 
Structure, governance and management (continued)

l Methods of appointment or election of Trustees
 

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Any natural person over the age of 18 is eligible to stand as a Director of the Charitable Company on the understanding they are willing to develop, the skills, knowledge and experience needed for the effective administration of the Charitable Company and are not disqualified from acting as a Director by the provisions of the Companies Act.
The Articles require a minimum of three Directors at any one time with no maximum set.
It is not currently the intention of the Trustees of the Charity to appoint new Trustees.
 

l Organisational structure and decision-making policies
 

The Trustees are the sole decision makers and referred to the Charity Commission guidance - It’s your decision: charity trustees and decision making (CC27). All decisions made by the Trustees are via a simple majority.
None of the Trustees who are also the Directors have any beneficial interest in the Charity.
 

l Policies adopted for the induction and training of Trustees
 

Lucy and the Horseman Foundation does not currently have any formal procedures or policies in place for the induction of new Directors.
 

l Related party relationships
 

Marcel Jung and Carol Jung are Trustees of the Charity and also Directors in IT & Accounting Solutions Limited which provide professional accountancy services to the Charity. IT & Accounting Solutions Limited was also the major donor during the year.
Marcel Jung is also Director of Kingdom Business Investments Limited which made donations to the Charity during the year.
The Charity made grants to Jubilee Resource Hub (charity no 1115331), to Restoring Hands (charity no1173152) and to Saturation Trust (charity no1136361).  Marcel Jung is a Trustee of the various charities.  
 

Members' liability
 

The Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up.
 

Page 5

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
 
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees on 20 September 2024 and signed on their behalf by: 
 




Marcel Jung
Page 6

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024


Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £

Income from:






Donations and legacies

3

12,288

12,288

12,206
 
Investments

4

636

636

1,079
 
Total income
12,924
12,924
13,285
Expenditure on:






Charitable activities

6

9,064

9,064

35,998
 
Total expenditure
9,064
9,064
35,998

Net movement in funds
  
3,860
3,860
(22,713)

Reconciliation of funds:

  




Total funds brought forward

  

12,270

12,270

34,983
 
Net movement in funds

  

3,860

3,860

(22,713)
 
Total funds carried forward
  
16,130
16,130
12,270

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

The notes on pages 10 to 17 form part of these financial statements.

Page 7

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
REGISTERED NUMBER: 09747885

 
 
BALANCE SHEET
AS AT 31 AUGUST 2024


2024
2023
Note
£
£

Fixed assets
  

  
-
-

Current assets
  

Debtors
 9 
59
74

Investments
 10 
10,000
35,000

Cash at bank and in hand
  
6,071
2,196

  
16,130
37,270

Creditors: amounts falling due within one year
 11 
-
(25,000)

Net current assets 
  
 
 
16,130
 
 
12,270

Total assets less current liabilities
  
16,130
12,270

Net assets excluding pension asset 
  
16,130
12,270

Total net assets 
  
16,130
12,270


Charity funds
  

Restricted funds
 13 
-
-

Unrestricted funds
 13 
16,130
12,270

Total funds
  
16,130
12,270

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees on 20 September 2024 and signed on their behalf by:

Page 8

 
LUCY AND THE HORSEMAN FOUNDATION
 
(A company limited by guarantee)
REGISTERED NUMBER: 09747885

 
 
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024




Marcel Jung

The notes on pages 10 to 17 form part of these financial statements.

Page 9

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Lucy and the Horseman Foundation (previously known as YOLOSOMIC until 17 August 2021) was setup on 25 August 2015 as a Charitable Company Limited by Guarantee and applied for registration with the Charity Commission for England and Wales on 4 July 2016. 
The registered address is 28 Harrow Way, Maidstone, Kent, ME14 5TU.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Lucy and the Horseman Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

  
2.3

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 10

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.4

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

  
2.5

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.6

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.7

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

  
2.8

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.9

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.


3.

Income from donations and legacies




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £
 


 
Donations

12,288

12,288

12,206
 

Page 11

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.

Investment income




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Investment income - local cash

636

636

1,079
 


5.

Analysis of grants




Grants to Institutions
2024
Grants to Individuals
2024
Total
funds
2024
        £
        £
        £




Grants, Poverty relief

-

4,091

4,091

Grants, Religion

4,527

-

4,527

Grants, Health

226

-

226

Grants, Disadvantaged

172

-

172



4,925
4,091
9,016



Grants to Institutions
2023
Total
funds
2023
        £
        £



Grants, Poverty relief

54

54

Grants, Religion

7,130

7,130

Grants, Health

1,376

1,376

Grants, Disadvantaged

2,308

2,308

Grants, Other charitable purposes

25,000

25,000



35,868
35,868

The company has made the following material grants to institutions during the year:

Page 12

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.Analysis of grants (continued)

2024
2023
£
£

Name of institution

Jubilee Church Maidstone (charity no 1168027)
3,910
7,130

Jubilee Resource Hub (charity no 1115331)
-
10,000

Willington Court (charity no 1105335)
-
15,000

Saturation Trust (charity no 1136361)
172
289

Taylor Made Dreams (charity no 1158174)
-
1,275

Acts Life Cluster (charity no 1098683)
617
-

Disasters Emergency Committee
-
1,000

Stewardship
-
700

Rowcroft Hospice
-
56

Cancer Research
25
45

Jubilee Primary School
-
30

JustGiving
-
32

Spinal Injuries
-
12

Charities Aid Foundation
-
300

Demelza
110
-

Back-a-Buddy
91
-

4,925
35,869

4,925
35,869


6.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2024
Total
2024
Total
2023
        £
        £
        £




Poverty relief

4,091

4,091

54
 
Religion

4,527

4,527

7,130
 
Health

226

226

1,376
 
Disadvantaged

172

172

2,308
 
Other charitable purposes

48

48

25,130
 


9,064
9,064
35,998
Page 13

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)



7.

Analysis of expenditure by activities




Grant funding of activities
2024
Support costs
2024
Total
funds
2024
        £
        £
        £




Poverty relief

4,091

-

4,091

Religion

4,527

-

4,527

Health

226

-

226

Disadvantaged

172

-

172

Other charitable purposes

-

48

48



9,016
48
9,064





Grant funding of activities
2023
Support costs
2023
Total
funds
2023
        £
        £
        £




Poverty relief

54

-

54

Religion

7,130

-

7,130

Health

1,377

-

1,377

Disadvantaged

2,308

-

2,308

Other charitable purposes

25,000

130

25,130



35,869
130
35,998



8.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 August 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 14

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.



Debtors


2024
2023
£
£


Due within one year

Prepayments and accrued income
59
74

59
74


10.



Current asset investments


2024
2023
£
£

Unlisted investments (liquid)
10,000
35,000

Unlisted investments is a debenture loan to Jubilee Resource Hub receiving interest at 3.5% per annum on a rolling 30 day notice.

Page 15

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.



Creditors: Amounts falling due within one year


2024
2023
£
£


Grants accrued - institutional
-
25,000


12.



Financial instruments


2024
2023
£
£

Financial assets

Financial assets measured at fair value through income and expenditure
16,071
37,196


Financial assets measured at fair value through income and expenditure comprise cash balances and short term liquid investments.


13.

Statement of funds


Statement of funds - current year

Balance at 1 September 2023
£
Income
£
Expenditure
£
Balance at 31 August 2024
£

Unrestricted funds





General Funds - all funds

12,270

12,924

(9,064)

16,130
 


14.

Summary of funds


Summary of funds - current year

Balance at 1 September 2023
£
 
Income
£
 
Expenditure
£
 
Balance at 31 August 2024
£
 
General funds

12,270

12,924

(9,064)

16,130
 

Page 16

 
LUCY AND THE HORSEMAN FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

15.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds
2024
Total
funds
2024
        £
        £


Current assets

16,130

16,130

Total 


16,130
16,130




16.


Related party transactions


2022
2023
£
£



Grant to Jubilee Resource Hub (charity no 1115331)
-
10,000

Grant to Willington Court (charity no 1105335)
-
5,000

Grant to Saturation Trust (charity no 1136361)
172
235

172
15,235

Donations received from IT & Accounting Solutions Limited amounted to £7,450 (2023: £11,445).
Donations received from Kingdom Business Investments Limited amounted to £1,146 (20232: £750).
Marcel Jung is a Trustee of the various charities - Jubilee Resource Hub, Restoring Hands, Acts Life Cluster and Saturation Trust.

Page 17