REGISTERED COMPANY NUMBER: 02069698 (England and Wales) REGISTERED CHAR NUMBER: 1002825 Report of the Trustees and Financial Statements for the Year Ended 31st March 2024 Angel Centre Iworcesterl The Richards Sandy Partnership Thomeloe House 25 8arboume Road Worcester Worcestershire WR11RU
Angel Centre (Worcoster) Contents of the Financial Statemènts for the Year Ended 31st Mar¢h 2024 Page Roport of the Trustees 1 to 3 Independent Examin8¢s Report Statemènt of Flnanclal Activities Balan¢e Sheet Notss to th• Flnanclal Statements 7 to 12 Detailod Ststsmont of Flnanclal Activities 13
Report of the Tntees fortho Year Ended 31st March 2024 The trustees WIK) are also directorn of the charity for Ihe purposes of the comnI$ Act 2006. present their report the financial slments of the Charity for the year ended 31st Marth 2024. Th8 tntstees have adopted the provisions of AccoLmting and Reporbng by CharitEs: StateFrtnt of RecomrnerKled Pracbce 2p41cab to charibes preparlng their accourts in ar£onlan wth the FirKnual Reporting Starmlard applicabk in the UK and RebC of Ireland {FRS 1021 18ffective 1 January 2019). 0EcVEs AND ACTivmES Obje¢tives and aims To prornofe Ihe Ore effectNe w01ng of chanlabfe and cThnmunty based tyganisations by pThIdI them vrilh officé Awel Centre-. PubJi¢ benefft The Twstees (x)nlhm th have had regard to CIHity c(xnmtss gdan on public benefit kn dectdirvj what actsvities the charity thuld undertake. Through ts provisiM of affoTdabl8 office and recreati0Tl Spa the benefft to Ihe puNitt is of parnmourt importance and in nomial time4 il is estimaled thal on fftrage up to 2170 dr•)ts rer eek. represwting all age and abqty p$. benefft Irom the 7(1$ aCtiVeS laking FlaL at Ihe Cw)tre. ran&ryng frun "I to one. ujueIng Se55KN offering advice and support personal i&wes. berea. prnLY aFKI thanLYal advKt to Se1 a1 lei£ure 8ctivib8& ACHlEVEmEP AND PERFORMANCE Charitablè Aclivities To meet its obieclives the Centre made 19 ro¢)ms and resoyw 8vai18blg 10 12 locaity b8sed tharities or cx)mmunity based organisations ¢)n a permanent basis enabhng them to athninister Iheir thartrbes and wo¥ide Private arKI secure counselling and elassrwm5 to thetr dterts in retum for an atfordable rn9np fee. In adibon a meeting room SU5talAe for Lqrger grws Is avallable on an.ad hc. bags and fs frequ• used by rhvn"Usets" and other Gharittes and o)mmunty tsed oryan1&10Ths for ma8rS and cours8s In rettyn fora nominal fee. FINANCIAL REVIEW Financial posilion Inming Tesources ve wxreased by £1.786 (2024 £39,353 - 2 £37,567) as a result of an in¢rease in bank interest inLxKne and hiyher declrldty recharued lo Users. Members Fees for offio usagè hav6 de(e by £3.417 bec three office5 were vacant of Ihe year. Expenditure has risen by £4.359 {24 £35,227 - 2023 £30.862) MalY iiue to higher 8ridty charges (offset ty irM7eased tneA)me from Users. noted above,) and an in(xease in repalrs and renewals lo the twIldl of £1.141. Thè net effect of the atrfwe is that a sUuS of£4.132 arisen (£ryaTed b a surptus of£6,705 in 2023. Thss surplus ha5 increased the chaiibes ovèrall reserves from £65,250 to £69,382. Free r88eNes are delailed in the reserves pdicy below, akng¥wJ8lurtherdetsil on ts de81gn8ted funds. Our F¥inopal source of (vlIng is from fees patd in • of Olfi aLxyJmnKKtstron. Addilvyg1 incon geralert from the use of fentre Sp. outside of Offi fDr alvil. in(audirwJ danc£ cTa&8es, drum YrkshOps. thoir pra(aT(E. theatro r)shOpS mLtsicand Churth servtces on 2 Sundays per monlh. Our aim FS to mainlain reserves at a fwe equivalent to apptDximatdy 18 monlhs fr members fe to cover ternporary pemds when a[wmXjalI0n rn8y not fulty utiltS8d to ensurn that the costs of vep8v5 and maintenance and running (xjsls can be m8LThe Charity is mee1ing this taryet The Trustees have eslabkshed th& Charityls reseNe5 tsy wtth rence to Ihe fharity thmission's gutdanc CC19Y. Cash lkn¥ is mormlnred by TnLqtees on a (xmtinuing basi Fre8 reserves (gwal fun(ts less red assets aTKI funds (tswJrwtwJ for oth8r pre$) * 31 Manh 2024 amount to £59.811 12023: £52.017>. which b85ed on 2024 rnsufts, eqits to 20 months of rnembetshtp kncorne. therefore exceeding the reseNes p)ky oudtneA aLM)ve. Expendiiure levels have inrxeased yw, bringirwJ total expeThthbj up 14% from £30.8ff2 10 £35,221. Consuous of the IrrlSing age of the buikling and trPatert repgbT costs. ts Iri198$ maintain a de5ignaknJ fund in the year totaln9 £3,520 {2023.. £6.5fXI}. These funds have been set ashje planned rrrintenan (x)sts post year end. Pwje 1
ARg•l ¢ontr• Iworcostsr Report of the Tntstees forthg Yoar Ended 31st PAaYch 2024 STrUCTURE. GOVERNANCEAND MANAGEMENT Goveming document The tharity is (xmtrdled by its goveThNThJ dowenc the M8nK)r8rum and Article5 of Association. and ClStteS limited c<)mpany, limrted by guarantee. as by the Compantes Art2006. Recruitment and appointment of new tru51ees The Twstee5 have the power at any time to apwint 8ny [8( to be a member of the Council of Manwjement aTh seeks to athieve repr8sentatic from a broad cross of society as FLEsible including existing Users oflhe Centre. Organisafional structurn Day to day management of the Chantys actNilJes Is delegated lo a Centre kqanager. Poppy BINrtlige. who works al the Centre usually (ffl 3 momings per week White, Seuetffjl. has managed the Charitys financas. working rnainty from home. and overs8en by lh2 Chair of Trustges an eslablished chethng procedure. Wth effect from May 2024 a new bookkeeping service wll be provided by The RTchards Sandy Partnership to manag8 the Charivs finances in conjuction Ihe Ctrntre Manager but Miko will (*tinu as Company Secretary for tha tim9 boing. Consideration of risks and prncedures to manage th The Charity t)cwpies its premises, known as Thè Aryd C8ntre, under the original lease granted by the owners. the United Refor1Td Churth when the prqect was launched SO 36 years ago. The (erm of thal lease h88 expired and negolialions have continued bul it has so far rh)t been Fsib to find a way lo renew th6 arrangement on tem)s which are acceptai48 to both partl88 and %thlch ecAnply 4Mlh current kgislation. The Twstees have taken Wl advice to ensure are &ting arvopriatdy in this rnatt9r and their wjliw is to keep membws knsly Snformed and manage th8 prw a l)usiness as u5uaW basis while continuing to observe Ihe terms of the original laas8. induding essantial mainlanan arKI repays lo tho buddww te £mirrt7ble negotiotions continue. REFERENCE AND ADMINISTRAmiE DETAILS Register Company number 02069698 {England and Wal8s} Rogistered Charity number 12825 R•glstor•d offi¢• The Angel Centre Angel Place Worcestershire WR1 3QN Trustogs Mrs M D Willkgms Mr B Bennett Mr S McAfdle Mrs S A Ellison MrA C Gi19S Mrs N Neville-Lee Mrs K M M Ross (appointed 19.2.241 Company socretsry Mr M J White Independen¢ Examlner The Ri¢hards Sandy Partnership Thomelo8 House 25 Barbwme Road Worcester Worcestershire WR1 1RU PwJe 2
Rèport of the Trustees forthe Yr Ended 31st March 2024 REFERENCE AND ADMINISTrATIVE DETAILS Banker6 Royal Bank of So)Uand Dwmmoryj House E(thnburgh EH12 9JN CCLA Investsnent Managemènt Limited PO Box 12892 Dunmow Essex CM6 9DL Appri)ved by ordeT of the board of tNst888 on....... 8nd slgned on ts Lthaff by.. M D Williams. Tw5tee Page 3
Independont Examlnofs Roport to the Trusteas of Angel Centre (Worcester) Indépandénl axamln8rf$ rèport to the trustees of Angel Centre (Worcester) (Ihe Company? I report to the tharity trustees on my examination of the accounts of the Company for the year ended 31st March 2024. Responslbiiiiles and basis of raport As the charitys trustees of the Company land also its directors for the purposes of company law} you aro responsible for the preparats'on of the accounts in accordance with the requirements of Ihe Cornpgnies Act 20061'lhe 2006 ACVI. Having satisfied myself that the accounts of the Company ate not required lo be audited under Part 16 of the 2006 Act and are eligible ft)r independent examination, I report in respect of my examination of your charity's accounts as catTied out under Section 145 of the Charities Act 2011 {Ihe 2011 ACVI. In carrying out rny examination I have followed the Directions given by the Charity Commission under Section 14515) (b) of the 2011 ACL Independent examlnerfs ststement I have completed my examination. I confirn that no maiters have come to my attention in connection with the examinats.on giving me cause to believe: accounting records were not kept in resp8Ct of the Company as required by Section 386 of the 2006 Act," or the accounts do not accord with those records; or the aC)unts 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 8 matter considered as part of an independent ex8minallon' or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and r8POrtiro by charities (applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard applicalje in the UK and Republic of Ireland (FRS 102)). I have no concems 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. Mdissa Gjdwin ACA ACCA Th8 Richards Sandy Partnership ThDmeloe House 25 Barboume R¢)ad wOrster Worcestershlre WR1 IRU Date:......ZL:..o.r.up.............. Page 4
Angel Centre (Worcester) Statement of Financial Ac17viknes (Incorporating an Income and Expendlturè Account) for the Year Ended 31st March 2024 2024 Total funds 2023 Total nds Unrestrfcted funds Restrlcted funds Notes INCOME AND ENDOWMENTS FROM Donations and IaCleS 37,314 37,314 36,859 Investment income 2,045 2.045 Total 39,359 39,359 37,567 EXPENDITURE ON Charitable actlvltlos Unrestricted funds 35,227 35,227 30,862 NET INCOME 4,132 4132 6,705 RECONCILIATION OF FUNDS Total funds brought forward 65,250 65250 58.545 TOTAL FUNDS CARRIED FORWARD 69.382 69,382 65,250 The notes fom part of thes6 financial statements Page 5
Angel Centre (Vlorcestor Balance Sheet 31st March 2024 2024 Total funds 2023 Total funds Unrestricted funds Rastricted funds Notes FIXED ASSETS Tangible assets 6,051 6,051 6.733 CURRENT ASSETS Debtors Cash al bank 8nd in hand 10 4.722 59,788 4.n2 59,788 2,154 58,671 64510 64.510 60,825 CREDITORS Amounts falling due within one year 11 (1,179) 11,179) (2,3081 NEf CURRENT ASSErs 63,331 63,331 58,517 TOTAL ASSETS LESS CURRENT LIABILITIES 69,382 69,382 65,250 NET ASSETS 69,382 69,382 65.250 FUNDS 12 Unrestricted funds 69.382 65,250 TOTAL FUNDS 69,382 65.250 Tha charitabfe company is entiued to exempts'on from audit undor Section 477 of thg Companies Act 2006 for the year ended 31 st March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 st March 2024 in accordance with Section 476 ofthe Companies Act 2006. The trustees acknowledge their reSpcS4bil1tieS for (a) ensuring that Ihe charitable company keeps accounting rett)rds Ihat comply with Sectlons 386 and 387 of the Companies Act 2006 and preparing financial statements which give a Irue and falr view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2(HJ6 rolating to ffinanGial slaternents, so far as appliCae to the charitaNe company. Ib) These financial statements have been prepared in accordance with the provisions appli(xble to chaTtl8ble companies subject kn the svnall companie5 regime. financial statements were approved by the Board of Tnjslees and authortsed for issue . and were signed on its behalf by: on Mrs M D Williams- Trust08 The notes fom part of these financial statements Page 6
Angel Cenlre Iworcester) Notes to th¢ Flnanclal Statoments for the Year Ended 31$1 Mar¢h 2024 ACCOUNTING POUCIE8 BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial ststements of the charftable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Re¢ommended Practice applicable to cha¥ities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of I18nd (FRS 1021 (effective 1 January 20191,, Financial R8porting Standard 102 The Flnanclal Rewrting Standard applicable in the UK and Republlc of Ireland, and the Companies Act 21)06. The financlal statemgnts have been pr8par8d under the historfcal cost convenllon. The a¢¢ounls are prepared in sterling, which 15 the functional currency. Monetary amounts in th8s8 fInarla1 statements are rounded lo the nearest £. GOING CONCERN . MATERIAL UNCERTAI The charitable objècts and activities of the ch8rty rely upon the cnntinued use of the Angel Centre building. which during the current financial year the charity operataj for a peppercom rent, subject to the charity being responsible lor the maintenance and repairs of the building. The lease agreement under whlch the charity rents the Angel Centre building has expired and Is subject to renegotiation. It is possible that th8 new lease agreement will not be lor a peppercom rent, such Ihat thg charity will golng fomard be reqUId to pay rent to United Refomwd Church who owns the Ang81 Centre building. Should the tharity fail to successfulty renegotiale the lease agreemenl for a rental charge that the ¢harity can afford, then the charfty will no longer be able to continue operating without significant changes to both Its tharitable objects and activities. INCOME Al income is recognised in the Statement of Financial Aclivities once the charity has entirf8ment to the funds, it is probable that thè income wlll b8 received and the am¢JJnt can be measured reliably. Rents recelvable (including short term hires) and related In)me from recharged &le¢lricity costs is recognised on a straight-line basis over the period of th8 leas8. Income from grants {indudlng govemment grant income) and donations is recognised in the p8riod in whi¢h the thaiity Is 6ntiUed to rac8ipt and the amount can be measured with reasonable certalnty. Income is deferred only %then either the chaiity has to fulfil condltions before b&coming gntilled to it and such tondilions were not met at the balance 8heet date or where the donor has specified that the incorne is to be 8xp8nded in a future period. Income from other services are rewgnlsed on a straight4ine basis over the period in which Ihe service is provided. Interest Income is recognised for on an effective interest rate basis. EXPENDITURE Liabilities are recognised a5 expenditure as soon as there is a legal or conslruclive obligation committing tt)e charity to that expenditure, il is probable that a transfer of economic benefits wll be required in settlement and the amount of th8 obligation can be measured rellably. Expenditure is aCUnted for on 8n accruals basis and has been classified under headings that aggregalè all cost related to thè category. Where costs cannot be dire¢Uy attributed to particular headirsgs they have been allocated to activi118s on a basis ccnsistent with the use of resources. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estlmated useful Equipment 20Yo on reducrrwJ balanc8 Items costing less than £200 ar8 not capitalised. TAXATION The charity is exempl from corporation tax on charitable aclivilies. FUND ACCOUNTING Unrestricted funds can be used in actordanc8 Wth the charitable oblecuves al the dlscretlon of the trustees. Page 7 continued...
Angel Centre (Wor¢ester) Notss to the Flnanclal Statements - continued for thè Year Endéd 31st Mar¢h 2024 ACCOUNTING POLICIES - continued FUND ACCOUNTING Restricted funds can only be used for particular restrictsd purposes within the objects of the chartty. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial ststements. DONATED SERVICES - USE OF PREMISES FOR PEPPERCORN RENT The use Of the Angel Centre building owned by the United Refomied Church for peppercom rent is not providgj for as a donated service on the ba8lS that the market value of the rent of tha premises cannot be measured reliably. FINANCIAL INSTRUMENTS The Charity ha5 elected lo apply the provisions of Section 11 'Basic Financial Instsuments. and Section 12 '0ther Financial Instrumenls Issues, of FRS 102 to all of its financial instruments. Financial instruments are regnised whon tho chaiity becomes paty to contractual provisions of the instrument. Financ4al assets are offset, wth the net amounts pr8senled in the accounts where there is alegally enfoable right to sel off the recognised amounts and there is an intention to settie on a net basls or to realise the asset and setde the Ilabillty SIMUaneoUsly. Basic Flnanclal Assets Basic financial assets, which Include trad& and other receivables and cash and bank balances, are initlally m8asur8d al transaction price including transactton costs and are subsequently carried at amortised cost using the effective intefest method unl8SS the arrangement constitutes a financing transaction. wh6ra th8 transaction is measured at Ihe present value of th8 future receipts discounted at 8 market rate of int8re8t. Basic Financial LlabllÈtles Basic finanaal liabilities, inciuding trade and other payables, a initially recognised at transaclion price unless the arrangement conslitules a financing transaction, where the debt instrument is measured at the present valu8 of future receipts. discounted at a market rate of inleresl. Debl instruments aro sUbSequeIY carried at amortised costs, uslng th8 effective inter8St rate method. Trade payables are obligatlons to pay for goods or services that have been acquired in the OTdinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not. they are pre9ented as non-¢urrent liabilities. Trede payables are recogniseil initially at transaction costs. DONATIONS AND LEGACIES 2024 2023 MembeTS fees Electrirjty recharged Central space hire Photty))Pl8r income 24,117 6,023 7.169 27.534 2.859 6.435 31 37,314 36,859 INVESTMENT INCOME 2024 2023 Bank interesi 2,045 708 Page 8 continued...
Angel Centre (Worcester) Not•s to the Flnanclal Ststsments - contlnuod for tho Year Ended 31st March 2024 SUPPORT COSTS Management Unrestiided funds 35,227 Support costs, induded in the above, are as follows." 2024 Unrestrictod funds 2023 Total activities Wages Rates and wat8r Insurance Light armd heat Telephone Postage and stationery Sundries Cleaning rnaterials Repalrs and r8n&wals Subscriptions Iependent examination Legal fees Deprectation of langlble and heritage assets (ProfftyLoss on disposal ol assets 8,385 1,538 1.616 9,883 626" 299 19 5,377 4,070 155 1.056 606 1,511 8,626 1.331 6,815 702 335 59 5,307 2,929 139 600 35,227 30.862 INCOMEI{EXPENDITURE) Net incomel(expenditurel is staled after chargingllcreditingl: 2024 2023 Depreciab'on - owned assets Deficit on disposal of fixed assets 1,511 86 1.669 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. TRUSTEES. EXPENSES There were no trusteès, expensès paid for the year ended 31st March 2024 nor for the year 8nd8d 31st March 2023. STAFF COSTS Staff costs for the year are as follows:. 2024 2023 Salarie$ 8,385 8,626 staff costs relate lo the salaries of the Centre Manager and Secretary, who are considered to be key management P8rsonn81 of th8 charity. Th8 average monthly number of employees during the year was 2 {2023- 1). No employees received emoluments in excess of £60,OtJJ. Pag8 9 continued...
Angel Contra IWor¢ester) Notes to the Flnanclal Statsments . contlnued forthe Year Ended 31st March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and leg8Ci&4 36.859 36,859 Investment income Total 37,567 37,567 EXPENDITURE ON Charllable actlvltles Unrestrirted funds 30,862 30.862 NET INCOPIE 6,705 6,705 RECONCIUATION OF FUNDS Total fijnds brought forward 58.545 58,545 TOTAL FUNDS CARRIED FORWARD 65,250 65.250 TANGIBLE FIXED ASSETS Equipment COST At 1st 4Kil 2023 Additlons Disposals 16,132 915 {980) At 31st Marth 2024 16,067 DEPRECIATION Al 1st April 2023 Charge for year Eliminated on disposal 9,399 1,511 (894) At 31st March 2024 10,016 NET BQOK VALUE At 31st March 2024 6.051 At 31st March 2023 6,733 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and acxnjed income 63 2,154 4722 2,154 Page 10 continued...
Angel Centre (Worcester) Nots$ to Ihe Financial Slatements - continued for the Year Ended 31$t March 2024 11. CREDftORS: Amoutrifs FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltors Accruals 53 1,126 111 2,197 1,179 12. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Building maintenance and decorating 58,750 6,500 7,112 (2.980) 65.862 3,520 65.250 4132 69,382 TOTAL FUNDS 65.250 aK132 69,382 Net movement in funds. included in the above are as follows", Incoming resources Resources expendwj Movement in fijnds Unrestrfded funds General fund Building maintenance and dec¥Jrating 39.359 (32,247) (2,980) 7,112 (1980) 39,359 (35.227) 4,132 TOTAL FUNDS 39,359 (35,227) 4.132 Comparatives for movement in funds Net movement in funds Transfers between lunds At 31.3.23 At 1.4.22 Unrestrtcted funds General fund Building maintenance and decorating 58,545 6.705 (6.5(J)) 6,51Ki 58,750 6.500 58.545 6.705 65,250 TOTAL FUNDS 58.545 6.705 65,250 Comparative net movement in funds. included in the abjve are as follows.. Incoming resourc85 Resources expended Movement in fijnds Unrestrl¢ted funds General fund 37,567 (30.862) 6,705 TOTAL FUNDS 37,567 (30,862) 6,705 Page11 continued...
Angel Centre Iworcester) Notes to the Flnancial Staternents- continued for the Year Ended 31st March 2024 12. MOVEMENT IN FUNDS- continued Unrestrlctsd General Fund This represents moni8s rec8ived wllhout rèstriction as to their application. The funds are utilised in the general running of the charity. The balance at 31st March 2023 is £65.862 (2023 £58.7501- Building maintenance and decorating Fund The purpose of this ftind is to sel aside rrVeS tr) CA)ver planned maintgnance costs lo ensuro the buildlng is maintained to a high standard. Th8 balance at 31st March 2024 is £3,520 {2023 £6,500). 13. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024 nor for the year ended 31 March 2023. 14. DONATED SERVICES . USE OF PREMISES During both the current and previous years the charity was provided use of Ihe Angel Centre building owned by the United Reformed Church for a peppercorn rerrt. No income and expendrture has been accounted for the use of the Angel Centre building on the basis that the rnarkel value for the rent of this building CAnnot be roliably measured. The lease agreement that manages Ihis rental arrangement has expired and is currenUy being renegotiated. INDEPENDENT EXAMINATION The independent examin8tion fees for the year ended 31 March 2024 amounted to £1,05612023 £1,008)- Page 12
Angel Centre IWor¢esterl Delalled Statement of Flnanclal Actlvltles for th8 Y•ar Ended 31st March 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons arbd legacies Members fees Electricity recharged Central space hire Photocopier income 24,117 6.023 7,169 27,534 2,859 6.435 31 37.314 36.859 Investment income Bank interest 708 Tolal InGomlng resources 39.359 37,567 EXPENDITURE Support costs Management Wage Ratès and water Insuranc8 Light and heat Telephone Postage and stationery Sundries Cleaning materials Repairs and renewals Subscriptions Independenl examination Legal fees DepCiatIOn of oquipment IProfityLoss on disposal of assets 8,385 1.538 1.616 9,883 626 299 19 5,377 4,070 155 1,056 8,626 1,342 1,331 6,815 702 335 59 5.307 2.929 139 1,008 1.511 86 1.669 35227 30.862 Total resources expended 35227 30,862 Net Incorno 4.132 6,705 Thi5 page doe5 not form part of the ststutory financial statements Page 13