Registered number: 07514599
Charity number: 1142126
MADLEY PARK HALL TRUST
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Charity, its Trustees and advisers
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Independent examiner's report
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Statement of financial activities
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Notes to the financial statements
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MAY 2024
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Reverend S T Kirby (resigned 5 June 2024)
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Reverend A S Mcculloch (resigned 5 June 2024)
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Mr A Rice (resigned 26 July 2024)
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Company registered number
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Charity registered number
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Northfield Farm Lane
Witney
Oxfordshire
OX28 1UE
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MAY 2024
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements of the Madley Park Hall Trust for the 1 June 2023 to 31 May 2024. The 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 Charity 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
a. Policies and objectives
The provision and maintenance of a village hall for the use of the inhabitants of Witney and the surrounding area without distinction of political, religious or other opinions, including use for:
(a) meetings, lectures and classes, and
(b) other forms of recreation and leisure time occupation, with the object of improving the conditions of life for the inhabitants
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)'.
b. Strategies for achieving objectives
The Trustees review the aims, objectives and activities each year. We look at what we have achieved in terms of the success of each key activity and the benefits we have brought to the residents of Witney. This review also helps to ensure our aims, objectives and activities remain focussed on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives we have set.
Achievements and performance
a. Main achievements of the Charity
The Trustees continue to make community events a regular feature of the hall and the hall manager with a group of volunteers have continued to organise a Christmas gift fair, New Year's dinner, Summer Fete and a Halloween party for children. These all raised funds for the hall.
I would like to thank all those who have volunteered this year to enable the hall to continue to be a centre for community in North Witney. In particular I would like to thank the trustees and the hall manager who have continued to work hard and whose enthusiasm and hard work has contributed enormously to the success of the Hall.
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Financial review
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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.
Structure, governance and management
a. Constitution
Madley Park Hall Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
The Charity is controlled by its governing document, a Deed of Trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Charity is controlled by its governing document, its memorandum and articles of association, dated 24 January 2011, which constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
d. Financial risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity 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 Charity 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 Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity 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 15 June 2024 and signed on their behalf by:
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MAY 2024
Independent examiner's report to the Trustees of Madley Park Hall Trust ('the Charity')
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I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2024.
Responsibilities and basis of report
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As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts 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 accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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)].
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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 accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 26 February 2025
Lorraine Butler FCA
KBDR Chartered Accountants The Old Tannery Hensington Road Woodstock Oxfordshire OX20 1JL
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MAY 2024
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Total funds brought forward
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 9 to 19 form part of these financial statements.
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: 07514599
BALANCE SHEET
AS AT 31 MAY 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Net assets excluding pension asset
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The Charity 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 15 June 2024 and signed on their behalf by:
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: 07514599
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
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The notes on pages 9 to 19 form part of these financial statements.
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Madley Park Hall Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed. Company Number 07514599 and Chairty Number 1142126.
2.Accounting policies
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Basis of preparation of financial statements
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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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Madley Park Hall Trust 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.
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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 raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
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Tangible fixed assets and depreciation
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Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
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.
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Liabilities and provisions
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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.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
The Charity 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.
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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Income from donations and legacies
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Income from charitable activities
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Income from charitable activities - Hire charges
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Income from charitable activities - Hire charges
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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Income from other trading activities
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Income from fundraising events
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Expenditure on raising funds
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Costs of raising voluntary income
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
6.Expenditure on raising funds (continued)
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Costs of raising voluntary income (continued)
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Fundraising trading expenses
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Allocated centrally incurred fundraising and governance costs
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
6.Expenditure on raising funds (continued)
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Fundraising trading expenses (continued)
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Allocated centrally incurred fundraising and governance costs
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Analysis of expenditure on charitable activities
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Accounting and legal fees
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
7.Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
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Accounting and legal fees
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Independent examiner's remuneration
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Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts
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Trustees' remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
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During the year ended 31 May 2024, no Trustee expenses have been incurred (2023 - £NIL).
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Financial assets measured at fair value through income and expenditure
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Financial assets measured at fair value through income and expenditure comprise….
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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Statement of funds - current year
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General Funds - all funds
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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Statement of funds (continued)
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Statement of funds - prior year
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General Funds - all funds
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Summary of funds - current year
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Summary of funds - prior year
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Analysis of net assets between funds
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Analysis of net assets between funds - current period
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Creditors due within one year
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MADLEY PARK HALL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
15.Analysis of net assets between funds (continued)
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Analysis of net assets between funds - prior period
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Creditors due within one year
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