Charity registration number 01156053 (England and Wales)
Company registration number 08811198
NORTHWOOD CHAPEL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
NORTHWOOD CHAPEL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A P Kellard
Mr G A Peel
Rev P D Roberts
Secretary
Mr A P Kellard
Charity number
01156053
Company number
08811198
Principal address
Northwood Chapel
Bigdale Drive
Northwood
Kirkby
Merseyside
L33 6XG
Registered office
Northwood Chapel
Bigdale Drive
Northwood
Kirkby
Merseyside
L33 6XG
Independent examiner
Jean Ellis BA FCA CTA
DSG
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
NORTHWOOD CHAPEL
CONTENTS
Page
Trustees' report
1 - 3
Statement of trustees' responsibilities
4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 14
NORTHWOOD CHAPEL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

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 governing document, 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 aims to present the Christian message of the Gospel of Jesus Christ as written in the Holy Scriptures, to men, women and children, in particular, but not limited to, those who live in Kirkby. These aims are met by reaching out to those in need, whatever those needs might be.

 

Our aim has been to minister to those who are in need spiritually and physically, through the preaching of God’s Word and supply of food when possible.

 

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

Volunteers

The charity makes use of volunteers during the course of the year in many of its activities. These duties may include, and this list is not exhaustive – assisting in the preparation of food, serving members of the public, helping with youth work, delivering tinned food etc. Most volunteers come from local churches in the Merseyside area, but some come from further afield.

Achievements and performance

2024 has again been a busy year for the charity. As for some years now the various ministries of the charity continue and are well accessed and supported by the local community. There is a wide range of volunteer support from all ages and genders. The Crusader youth groups which run on a Tuesday evening continue to blossom. Primary age running from 6:15 pm to 7:15pm continues to build, with around 25-30 children coming each week. Games, Craft, Singing, and Bible stories are eagerly enjoyed by all. The High School age meet from 7:30pm - 9pm and this group although small in number, around 5-8, continues to enjoy time together in a safe environment, Bible teaching followed by various games, Air Hockey, Table Tennis, and others, is always well received by those who come. During the summer school term, the High School children are taken out each Tuesday evening to various places in the local area. This provides an opportunity to socialise with those who attend and get to know them better while allowing them to get to know the leaders. Time is also spent learning from the Bible.

The LAMB's ministry. which was set up for Ladies in the community, who may or may not have young children. This continues to provide a safe place for ladies to chat together, to share experiences, and also to share from the Bible. During the year there have been special days where the members can enjoy crafting, baking, and other activities. Some external speakers are invited to come and speak to the ladies from time to time. These meetings on a Wednesday are always well attended. This year it was possible due to Local Authority funding to take the ladies out for various meals, and to provide various packs to support their individual needs.

The Foodbank continues to be well used by the community and is well supported by volunteers. This is run from under the auspices of "Kirkby Foodbank" and has been well supported both practically and financially, by local residents who have themselves needed the foodbank in the past, by local schools, private gifts from other individuals, and by the local authority. Through this ministry the church has been able to draw alongside those who access the foodbank and share the Gospel message.

The "Passion for Kirkby" event was not held this year, but the time was well used by the Pastor of the church to hold various classes to which some of those from the foodbank attended. This resulted in 3 members coming forward to be baptised in the church, this as a result of accepting Christ as their personal saviour. The church was packed as those who were baptised gave an account of their individual journeys.

NORTHWOOD CHAPEL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

As always, it continues to be a privilege to support our local community in various ways and to see groups coming together, and we are very grateful for the support that we have received this year from many individuals, churches, schools, and the local authority. And especially for those who keep us in their prayers.

For 2025 the charity aims to put on the “Passion for Kirkby” event in Kirkby town centre. After the success of the Elephant in the boat booklets, both in the town centre and also in local primary schools, it is our intention, finance allowing, to provide the third “Elephant in the Boat” booklet, around the time leading up to the Christmas period. The ministries of the church, God willing, will continue to provide a safe place for our community, where the church can support both physical and spiritual needs of those of our community.

Financial review

The results for the year and the charity’s financial position at the end of the year are shown in the attached financial statements.

 

The charity received incoming resources of £43,756 (2023: £68,256) and expended £58,260 (2023: £52,790), resulting in a deficit of £14,504 (2023: surplus of £15,466) in the period covered by the accounts. At the year end the charity has net assets of £13,318 (2023: £27,822) represented by unrestricted funds of £2,515 (2023: £8,077) and restricted funds of £10,803 (2023: £19,745).

 

At the time of approving the accounts the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the accounts.

However, the Trustees are aware of certain material uncertainties, including the potential financial and operational challenges posed by the cost of living crisis, which may cause doubt on the charity’s ability to continue as a going concern. The Trustees are confident that alternative sources of funding will be secured to increase the level of reserves. On this basis, the Trustees have concluded that it remains appropriate to prepare the charity’s accounts on a going concern basis. The Trustees are aware that if alternative funding is not secured then the charity will no longer be a going concern and will have to cease operations.

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 months’ expenditure. 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. At the year end charity funds do not meet this level and the trustees have plans to address this by focusing on income generation to increase the charity's income in the future.

Risk policy

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 charity is a company limited by guarantee.

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 A P Kellard
Mr G A Peel
Rev P D Roberts

New trustees will always be appointed following nominations and voting by existing trustees. They must possess a good balance of skills, and be of good character.

 

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.

NORTHWOOD CHAPEL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

New trustees undergo a full induction process and receive copies of key and relevant documents from both the Charity Commission and Companies House, outlining the roles and responsibilities of the charity trustee.

 

The position of Church Pastor (Remunerated) is occupied by Mr G A Peel. This is a salaried position and was approved by the Charity Commission when the charity was established.

 

There were three trustees at the end of the financial year. The trustees are responsible for the finances of the charity and employment of all staff. The Church Pastor is responsible for overseeing the pastoral and spiritual life of the Charity.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

 

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

Mr A P Kellard
Trustee
4 June 2025
NORTHWOOD CHAPEL
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The trustees, who are also the directors of Northwood Chapel for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that 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.

NORTHWOOD CHAPEL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NORTHWOOD CHAPEL
- 5 -

I report to the trustees on my examination of the financial statements of Northwood Chapel (the charity) for the year ended 31 December 2024.

 

This report is made solely to the charity’s trustees , as a body, in accordance with section 145 of the Charities Act 2011. 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 this 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, for this report, or for the opinions I have formed.

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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 Companies Act 2006.

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 Companies Act 2006 other than any requirement that the financial statements 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 financial statements 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.

Jean Ellis BA FCA CTA
DSG
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
Dated: 4 June 2025
NORTHWOOD CHAPEL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
19,633
23,938
43,571
22,701
45,436
68,137

Investments

4
185
-
185
119
-
119
Total income
19,818
23,938
43,756
22,820
45,436
68,256
Expenditure on:
Charitable activities
5
25,380
32,880
58,260
27,099
25,691
52,790
Total expenditure
25,380
32,880
58,260
27,099
25,691
52,790
Net (expenditure)/income for the year/
Net movement in funds
(5,562)
(8,942)
(14,504)
(4,279)
19,745
15,466
Fund balances at 1 January 2024
8,077
19,745
27,822
12,356
-
12,356
Fund balances at 31 December 2024
2,515
10,803
13,318
8,077
19,745
27,822
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
NORTHWOOD CHAPEL
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
14,926
29,173
Creditors: amounts falling due within one year
10
(1,608)
(1,351)
Net current assets
13,318
27,822
Net assets
13,318
27,822
Income funds
Restricted funds
12
10,803
19,745
Unrestricted funds
2,515
8,077
13,318
27,822

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 2024.

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 4 June 2025
Mr A P Kellard
Trustee
Company registration number 08811198
NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
1
Accounting policies
Charity information

Northwood Chapel is a private company limited by guarantee incorporated in England and Wales. The registered office is Northwood Chapel, Bigdale Drive, Northwood, Kirkby, Merseyside, L33 6XG.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, 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

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

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.

NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
Basic financial assets

Basic financial assets, which include debtors 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.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

 

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors 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 creditors 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 creditors 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.

1.7
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.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 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
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
19,633
23,938
43,571
22,701
45,436
68,137
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
185
119
NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
5
Charitable activities
2024
2023
£
£
Staff costs
17,582
17,924

Passion for Kirby

100
10,879

Affiliation

3,000
3,000

Utilities

2,807
2,406

Missionary giving

900
900

Insurance

1,223
1,149

Speaker expenses

980
1,110

Books and CD's

217
186

Outreach/Evangelism

3,727
1,215

Consumables

247
247

Building and equipment costs

13,997
972

Foodbank

11,643
11,128
56,423
51,116
Share of governance costs (see note 6)
1,837
1,674
58,260
52,790
Analysis by fund
Unrestricted funds
25,380
27,099
Restricted funds
32,880
25,691
58,260
52,790
6
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Legal and professional
-
384
384
-
341
341

Independent examination fees

-
1,453
1,453
-
1,333
1,333
-
1,837
1,837
-
1,674
1,674
Analysed between
Charitable activities
-
1,837
1,837
-
1,674
1,674

Governance costs includes payments to the independent examiner of £1,453 (2023: £1,333) for examination fees.

NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
7
Trustees

Other than as noted below, none of the trustees (or any persons connected with them) received any remuneration, expenses or benefits from the charity during the year.

The position of Church Pastor (Remunerated) is occupied by Mr G A Peel, a Trustee of the charity. This is a salaried position and was approved by the Charity Commission when the charity was established. Salary and pension contributions of £17,582 (2023: £17,924) were paid in the year.

8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Church pastor and support
1
1
Employment costs
2024
2023
£
£
Wages and salaries
16,293
15,896
Social security costs
988
1,738
Other pension costs
301
290
17,582
17,924
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024
2023
£
£
Aggregate compensation
17,582
17,924
9
Taxation

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

10
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
135
-
Accruals and deferred income
1,473
1,351
1,608
1,351
NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
11
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
301
290

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

12
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.

At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
Donations
7,100
21,130
(17,427)
10,803
Evangelism
645
-
(645)
-
Equipment
12,000
2,808
(14,808)
-
19,745
23,938
(32,880)
10,803
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
Donations
-
23,056
(15,956)
7,100
Evangelism
-
10,380
(9,735)
645
Equipment
-
12,000
-
12,000
-
45,436
(25,691)
19,745

Donations - this represents gifts given towards the Pastor's salary, foodbank, books and CDs, and Easter gifts.

 

Evangelism - this represents gifts given towards Passion for Kirby and The Vine project.

NORTHWOOD CHAPEL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
13
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 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
8,077
19,818
(25,380)
2,515
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
General funds
12,356
22,820
(27,099)
8,077
14
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 December 2024:
Current assets/(liabilities)
2,515
10,803
13,318
2,515
10,803
13,318
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 December 2023:
Current assets/(liabilities)
8,077
19,745
27,822
8,077
19,745
27,822
15
Related party transactions

Other than as noted in the trustee note 7, there were no other related party transactions in the year.

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