Fundatia Adept Limited Charity Accounts

COMPANY REGISTRATION NUMBER: 05819197

CHARITY REGISTRATION NUMBER: 1121371

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

UNAUDITED FINANCIAL STATEMENTS

31 December 2024

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

	PAGE

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	7

Statement of financial activities (including income and expenditure account)	8

Statement of financial position	9

Notes to the financial statements	10

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)

YEAR ENDED 31 DECEMBER 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name	Fundatia Adept Limited

Charity registration number	1121371

Company registration number	05819197

Principal office and registered	Upper Leigh Farm
office	Leigh Lane
	East Knoyle
	Salisbury
	SP3 6AP

THE TRUSTEES

	Dr J Akeroyd (Scientific Adviser)
	Mr M Fried (Trustee)
	Mr N Ratiu (Chairman of Trustees)
	Mr T Scott Bolton (Trustee)
	Mrs L Kinmonth (Trustee)
	Ms L Balint (Trustee)
	Dr O Mountford (Trustee)
	Mr N Page (Director and Founder)

COMPANY SECRETARY	Mr N Page

INDEPENDENT EXAMINER	Mr D H Kelland
	Headlands House
	1 Kings Court
	Kettering Parkway
	Kettering
	NN15 6WJ

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Fundatia ADEPT Ltd (hereafter ADEPT Ltd) is a charitable company limited by guarantee, incorporated on 17th May 2006 and registered as a charity on 25th October 2007. The company was established under a Memorandum of Association that established the objects and powers of ADEPT Ltd and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute and amount not exceeding £10.

Recruitment and Appointment of Management Committee

The Management Committee seek to ensure that the needs of ADEPT Ltd are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, ADEPT Ltd has sought to identify individuals who would be willing to become trustees and use their experience to enhance ADEPT Ltd. In order to develop a broad skill mix, the trustees are requested to provide a list of their skills and in the event of a key skill being absent, individuals are approached to offer themselves for election to the Management Committee. There have been no changes during 2018.

Trustee Induction and Training

The trustees are already familiar with the practical work of ADEPT Ltd. New trustees are invited and encouraged to visit Romania to gain first hand experience of the activities of ADEPT Ltd. The Charities Commission's guide "the Essential Trustee" is also provided.

Risk Management

The Management Committee has conducted a review of the major risks to which ADEPT Ltd is exposed. Where appropriate systems or procedures have been established to mitigate the risks ADEPT Ltd faces. These procedures are periodically reviewed to ensure that they continue to meet the needs of ADEPT Ltd.

Related Parties

The activities of ADEPT Ltd are combined with that of Fundatia ADEPT Transilvania, a separate charity registered in Romania with identical objectives. Much of the finance raised for the implementation of the ADEPT objectives and activities is raised in Romania. The directors in Romania are Cristi Gherghiceanu, Nat Page and Razvan Popa. ADEPT Ltd supports the Barbara Knowles Fund (BKF), which shares the same objectives, by acting as a Gift Aid-eligible channel for donations to BKF. This is in accordance with Charities Commission guidelines.

Organisation Structure

ADEPT Ltd has a Management Committee of up to ten members who meet twice per year and are responsible for the strategic direction and policy of the charity. At present the Management Committee has six trustees from a variety of professional backgrounds relevant to the work of ADEPT Ltd. The founding director also sits on this committee but is not a trustee. ADEPT's chief scientist John Akeroyd also regularly attends meetings, and other specialist advisers are invited to attend meetings from time to time. Responsibility for day-to-day management of ADEPT Ltd is with the founding director. The project is increasingly managed by ADEPT staff in Romania, with less time required from UK management. The Romanian ADEPT team has built capacity through experience and through training courses.

OBJECTIVES AND ACTIVITIES

OBJECTIVES

The registered spheres of work of ADEPT Ltd are: providing benefit to society worldwide, and providing education, training and the dissemination of information about conservation linked to community prosperity and sustainable economic development, leading to viability of small-scale farming communities.

The principal activities of ADEPT Ltd in the year under review were to encourage and provide support for all aspects of Fundatia ADEPT Transilvania, Romania, which exactly shares ADEPT Ltd objectives.

ADEPT Ltd has the following objectives:

- Biodiversity Conservation

- Community development

- Sustainable agricultural development

- Food production and marketing

- Responsible tourism development

- Responsible forestry management

ADEPT continues to have a major impact on Policy, Nature Conservation and Poverty Alleviation in Romania. It has laid the groundwork for recognition of the importance of the High Nature Value (HNV) farmed landscapes of SE Transylvania. ADEPT remains the leading NGO promoting the understanding of the natural, cultural and economic importance of HNV grassland in Romania.

ACHIEVEMENTS AND PERFORMANCE

UK ACTIVITIES

On 19 November 2024 ADEPT UK held an event to celebrate 20 years since its registration in UK and Romania. The event was kindly supported by a £6,300 grant from LGT Wealth Management, and by donations of wine from Prince Stirbei and water from Acqua Carpatica. Over 150 people attended the event at the Romanian Cultural Centre, kindly hosted by ADEPT Chairman of Trustees Nicolae Ratiu. The intention of the event was to thank friends an supporters, not to raise funds directly. It was a very successful event, allowing us to make contact with and acknowledge our many UK-based supporters.

Trustees' meetings

1. Trustees' meetings was held on

1. 19 June 2024 in Apold. Attending in person were Trustees: Nicolae Ratiu (Chairman), Tim Scott Bolton, Libby Kinmonth, Owen Mountford, Lenke Balint, Moritz Fried. Plus Directors: Nat Page, Cristi Gherghiceanu, Razvan Popa, Laura Chirila-Pasca and Ben Mehedin.

2. 2 November 2024: Libby Kinmonth, Nicolae Ratiu, Tim Scott Bolton, Nat page to discuss the 19 November event in London.

ROMANIA ACTIVITIES

- ADEPT's 100km Transylvania Bike Trail (TBT) mountain bike trail, linking Sighisoara with 7 villages in the area, continues to be in successful operation with local visitors. Very successful annual TBT competition in August, over 1,000 participants.

- Sigrid Rausing Trust (SRT) generously donated £220,000 to ADEPT Romania as part of a new 3-year grant of £220,000 per year for core funding support, for period 2024-27.

- EU LIFE grant approved in June 2022 in under way. It is a 7-year grant for butterfly conservation, covering 9 different natura 2000 sites across Transylvania. ADEPT is a partner in the project with Slovakian NGO BROZ. Total project value is €731,000, of which EU pays 60% (€438,000), and ADEPT and co-financers including SRT and Black Sea Oil and Gas pay 40% (€293,000).

- A new LIFE grant was approved in June 2024 in under way. It is a 7-year grant focused on restoration of priority grassland habitats in Romania. It brings innovative mapping and restoration techniques which will have wide and long-lasting impact after project end. It will target 4 grassland habitats in 3 regions. In addition, it will demonstrate, and leave capacity for, harvesting of seeds from priority habitats, and reseeding in protected grasslands. ADEPT is again a partner with Slovakian NGO BROZ. Total project value is €1,547,841, of which EU pays 75% (€1,160,880), and ADEPT and co-financers including SRT and Black Sea Oil and Gas pay 25% (€386,969).

- ADEPT is also a partner in four EU Horizon projects 100% financed by the EU: EUNetHorse (2022-2027), Climate Smart Advisors (2022-2025), and just started this year DigiRangelands (2024-2028) and FarmBioNet (2024-2027).

- The Angofa Aberdeen Angus herd and associated management has had a significant measurable benefit to grassland biodiversity. Grassland restored in previous years in Angofa show floristic richness increased in the haymeadows by over 12%, and in pastures by a remarkable 30% (based on expert surveys). The herd is also profitable.

- The Saschiz ceramics centre and the Angofa Wildlife Centre are well established and operating smoothly and financially sustainably.

- The baseline studies for the Biodiversity and Carbon Credit schemes in Târnava Mare grasslands were repeated in 2023 as a result of changes required to the methodology, financed by SRT. The credits were launched on the market launch in November 2024.

- 2024 saw the restart of the collaboration with Operation Wallacea in the use of the Angofa Wildlife Centre as a visitor centre and a biodiversity data collection. This will bring in some visitor income.

FINANCIAL REVIEW

Principal Funding Sources

ADEPT Ltd income was total £40,987.08 mainly consisting of:

- £6,000 fro warwick University, project partnership (FIDELIO)

- the regular and very welcome £6,000 unrestricted funding from Gerald Micklem Family Trust (unrestricted) (unrestricted).

- a total of £4,380 funding from Naturanda, £45,215 (but linked to £4,374 payments to Lister Agriconsult) (restricted).

- £6,916 from Fauna & Flora (project partnership) (unrestricted).

- £6,300 sponsorship for 20th Anniversary celebration held in London, 19 November (unrestricted).

- £1,135: charitable donations, (unrestricted).

- £10,254 from HMRC VAT (unrestricted).

ADEPT expenditure was £43,327.71 of which main payments were:

- £4,374: to Lister AgriConsult.

- £1,345: costs linked to the November celebration in London.

- £450: office expenses.

- £100: Bank charges.

- £19,050: Salary N Page

- £1,248: professional fees and consultants.

- £15,760 transfer to ADEPT Romania for operational expenses.

- £999: various membership fees, useful for ADEPT European profile.

PLANS FOR FUTURE PERIODS

1. Effective management of 6 EU projects.

2. Developing Biodiversity and Carbon Credit schemes in Târnava Mare grasslands. Next step is marketing of firstvalley before we replicate in other valleys.

3. Developing the Angofa herd, school and farmhouse, now under management of new employee.

4. We will work across several valleys including Angofa and Viscri to collect long term biodiversity data linked to land management.

5. Using the data collected to improve local management, and also to extend good management practices and influence national policy.

Investment Policy

Aside from the aim of retaining a prudent amount in reserves, ADEPT Ltd funds are spent in the short term, so there are no funds for setting up a long-term fund.

Reserves Policy

The board of Trustees has examined ADEPT Ltd's requirements for reserves. Fundatia ADEPT activities are increasingly funded and managed within Romania. It is important to continue to raise charitable funds in the UK, but the ability to create reserves remains unlikely.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 24 September 2025 and signed on behalf of the board of trustees by:

Mr N Page (Director and Founder)

Director

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUNDATIA ADEPT LIMITED

YEAR ENDED 31 DECEMBER 2024

I report to the trustees on my examination of the financial statements of Fundatia Adept Limited ('the company') for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the company (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 accounts of the company 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 company’s accounts as 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

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:

1. accounting records were not kept in respect of the company 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 accounts to be reached.

Mr D H Kelland Independent Examiner

Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

24 September 2025

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

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

Income and endowments

Donations and legacies	5	30,744	–	30,744	74,914
Charitable activities	6	10,255	–	10,255	12,544
		--------	----	--------	--------
Total income		40,999	–	40,999	87,458
		--------	----	--------	--------

Expenditure

Expenditure on charitable activities	7,8	32,496	11,391	43,887	116,046
		--------	--------	--------	---------
Total expenditure		32,496	11,391	43,887	116,046
		--------	--------	--------	---------

	--------	--------	--------	---------
Net expenditure and net movement in funds	8,503	( 11,391)	( 2,888)	( 28,588)
	--------	--------	--------	---------

Reconciliation of funds

Total funds brought forward	6,975	11,391	18,366	46,954
	--------	--------	--------	---------
Total funds carried forward	15,478	–	15,478	18,366
	--------	--------	--------	---------

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

All income and expenditure derive from continuing activities.

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible fixed assets	14		2,927		3,444

CURRENT ASSETS

Cash at bank and in hand	13,633		15,962

CREDITORS: amounts falling due within one year	15	1,082		1,040
		--------		--------
NET CURRENT ASSETS			12,551		14,922
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			15,478		18,366
			--------		--------

FUNDS OF THE CHARITY

Restricted funds		–	11,391
Unrestricted funds		15,478	6,975
		--------	--------
Total charity funds	16	15,478	18,366
		--------	--------

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

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

These financial statements were approved by the board of trustees and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr N Page (Director and Founder)

Director

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Upper Leigh Farm, Leigh Lane, East Knoyle, Salisbury, SP3 6AP.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Public benefit

The Trustees of Fundatia Adept Ltd understand the need to have regard to the Charity Commission's guidance on public benefit.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% straight line
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. LIMITED BY GUARANTEE

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

5. DONATIONS AND LEGACIES

Unrestricted Funds	Restricted Funds	Total Funds 2024
£	£	£

DONATIONS

Naturanda	4,381	–	4,381
General donations	26,363	–	26,363
	--------	----	--------
	30,744	–	30,744
	--------	----	--------

Unrestricted Funds	Restricted Funds	Total Funds 2023
£	£	£

DONATIONS

Naturanda	36,934	–	36,934
General donations	26,589	11,391	37,980
	--------	--------	--------
	63,523	11,391	74,914
	--------	--------	--------

6. CHARITABLE ACTIVITIES

	Unrestricted Funds	Total Funds 2024	Unrestricted Funds	Total Funds 2023
	£	£	£	£
HMRC VAT refunds	10,255	10,255	12,544	12,544
	--------	--------	--------	--------

7. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Romanian Project	31,206	11,391	42,597
Support costs	1,290	–	1,290
	--------	--------	--------
	32,496	11,391	43,887
	--------	--------	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Romanian Project	114,801	–	114,801
Support costs	1,245	–	1,245
	---------	----	---------
	116,046	–	116,046
	---------	----	---------

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE

	Activities undertaken directly	Support costs	Total funds 2024	Total fund 2023
	£	£	£	£
Romanian Project	42,597	1,290	43,887	116,046
	--------	-------	--------	---------

9. ANALYSIS OF SUPPORT COSTS

	Support costs	Total 2024	Total 2023
	£	£	£
Depreciation	517	517	716
Accountancy	1,290	1,290	1,245
	-------	-------	-------
	1,807	1,807	1,961
	-------	-------	-------

10. NET EXPENDITURE

Net expenditure is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation of tangible fixed assets	517	606
	----	----

11. INDEPENDENT EXAMINATION FEES

	2024	2023
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	1,290	1,245
	-------	-------

12. STAFF COSTS AND EMOLUMENTS

The average head count of employees during the year was 1 (2023: 1 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2024	2023
	No.	No.
Management	1	1
	----	----

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

13. TRUSTEE REMUNERATION AND EXPENSES

During the year the company paid fees and expenses to Mr N Page (a director but not a Trustee) amounting to £15,760, of which all relates to fees (2023 - £13,500).

14. TANGIBLE FIXED ASSETS

	Long leasehold property	Equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	93,321	23,738	117,059
	--------	--------	---------
Depreciation
At 1 January 2024	93,321	20,294	113,615
Charge for the year	–	517	517
	--------	--------	---------
At 31 December 2024	93,321	20,811	114,132
	--------	--------	---------
Carrying amount
At 31 December 2024	–	2,927	2,927
	--------	--------	---------
At 31 December 2023	–	3,444	3,444
	--------	--------	---------

15. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Other creditors	1,082	1,040
	-------	-------

16. ANALYSIS OF CHARITABLE FUNDS

Unrestricted funds

	At 1 January 2024	Income	Expenditure	Transfers	At 31 December 2024
	£	£	£	£	£
General funds	6,975	40,999	(32,496)	–	15,478
	-------	--------	--------	----	--------

	At 1 January 2023	Income	Expenditure	Transfers	At 31 December 2023
	£	£	£	£	£
General funds	19,450	76,067	(116,046)	27,504	6,975
	--------	--------	---------	--------	-------

Restricted funds

	At 1 January 2024	Income	Expenditure	Transfers	At 31 December 2024
	£	£	£	£	£
European Outdoor Conservation Assoc	11,391	–	(11,391)	–	–
Barbara Fund	–	–	–	–	–
	--------	----	--------	----	----
	11,391	–	(11,391)	–	–
	--------	----	--------	----	----

	At 1 January 2023	Income	Expenditure	Transfers	At 31 December 2023
	£	£	£	£	£
European Outdoor Conservation Assoc	–	11,391	–	–	11,391
Barbara Fund	27,504	–	–	(27,504)	–
	--------	--------	----	--------	--------
	27,504	11,391	–	(27,504)	11,391
	--------	--------	----	--------	--------

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Tangible fixed assets	2,927	–	2,927
Current Assets	13,633	–	13,633
Creditors less than 1 year	(1,082)	–	(1,082)
	--------	----	--------
Net assets	15,478	–	15,478
	--------	----	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Tangible fixed assets	3,444	–	3,444
Current Assets	3,531	11,391	14,922
Creditors less than 1 year	–	–	–
	-------	--------	--------
Net assets	6,975	11,391	18,366
	-------	--------	--------