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2023-03-31-accounts

Income/Expenditure

Income 2022-23
Fees & Nursery
Vouchers		 121,234
Grants Received 319,071
Bank Interest 16
TOTAL £440,321
Expenditure 2022-23
Charitable actvites
Provision of nurserycare		 £495,096
TOTAL £495.096

OUR

ETHOS

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We believe Children learn best through.
active engagement with the world around.
Them and through meaningful
and relevant experience
THE UNDER 5’S PROJECT
•••
ST MARY’S CHURCH, GREENLAW ST,
WOOLWICH, SE18 5AR
•••
0208 316 0061
•••
UNDER5SPROJECT@HOTMAIL.COM
•••
UNDER5SPROJECT.ORG
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2022-2023
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Annual Report

Introduct Management Report on

Managers Report W h h d t l b f ll f

I

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The Under 5's Project St Marys & Woolwich Common Nurseries st Mary's Church, Greenlaw Street Woolwich, SE18 SAR Charity No- 1026486 Tel.. 0208 316 0061 Fax". 0208 855 8259 E-mail: under5s ro ect hotmail.com Azets Audit Services River House l Maidstone Road Sidcup Kent DA14 5RH Your ref: CjC￿l 27 February 2024 Dear Sirs Under 5's Proje¢t The following representations are made on the basis of ¢nquiries of management and staff with relevant knowlcdge and experience such as we consider necessary in connection with your independent examination of the charity's financial staten]ents for the year ended 31 March 2023. 'Ibese enquiries have included inspection of .supporting documentation wheTe appropriate. All Tepresentations are made to the best of our knowledge and belief. General I We have fulfilled our responsibilities as tsustees as set out in the tern￿ of your engagement letter dated 25 September 2020 under the Chatities Act 2011 for preparing financial statements in accordallce with applicable law and Unltcd Kingdom Accounting Stsudards (United Kingdom Generally Accepted Accounting Practice), for being satisficd that they give a true and fair ￿eW and for making accurate Tq)resentation5 to you. 2 All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. 3 All the accounting records have been made available to you for tkn purpose of your iJJd¢pendent examination. We have provided you with unrestricted access to 811 appropriate persons within th¢ charity, and with all otheT records and related infom￿tiOll requestsl iucluding minutes of all management and trustee me¢tings and co￿espOndence wÈth The Ch￿lty ComTnission. The fllW]¢ial statements are free of material misstatem¢nts, including omissions. W*re t4 up CD thc Royal GretnWi(h Equality and Equity Charter

Subsequent events 16 All events sllbsequent to the date of the financial ststements which require adjustrnent or disclosure have be¢n properly accounted for and disclose Going concern 17 We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for tkne Ch￿Ity'S needs. We have consider¢d a period of twelve months from the date of approval of the fll]ancial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. Grants and donations 18 All graJ]ts, donations and other income, the receipt of which is subject to specific ternis or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. We acknowledge our legal responsibtlities Tegarding disclosure of infDrn]ation to you as independent examiners and confirn that so far as we are aware, there is no relevant infomiation needed by you in connection with pryaring your independent examiner's report of w]]ich you are unaware. Each director has taken all the 8teps that helshe ought to havc taken as a director in order to make themself aware of any relevant independent examination inforniation and to establish tbat you arc awarc of that ]nfOrn￿tiOll. Yours faithfully Trnstee Signed on behaIf of the board of trustees Sarah Carr Executive Manager St Marys Church & Woolwich Common W¢F¢ prpud upw lh¢ Equality and Equity Charter

UNDER FtVES PROJECT REPORT AND FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 RegistÈrÈd Charity No. 1026486 Azots Audit Services Limited Accountants First Floor River house 1 Maidstone Road Sid¢up DA14 5RH

UNDER FIVES PROJECT CONTENTS Page Charity Inforrnation Report of fh8 Management Committee Ind•pend8nt Examlnerfs Rewrt Ststement of FinanGi¥l Activities Balancè Sh8et Notès to the Financial Ststèm8nts

UNDER FNES PROJECT REFERENCE AND ADMINISTRATIVE DETAILS Trustees Edel Redmond Jenny Thompson Helen Ca Management Committee Jenny Thompson Ichairl Edel Rèdmond ITrea5uIErl Jesmilla Sanoon Chk)e Camtrron Charlie May Emma Cameron Charlty Registration Number 1026486 Principal Offi¢e st. Marys Church G￿enlaW Street Lendon SE18 SAR Independent Examiner C. Cooper FCCA Azets Audit Setvices Lttnited Acctsuntants Fi￿t Floor RivÈr house 1 MaidstDne Road Sidcup DA14 5RH Banker Santandèr Boot Merseyside GIR OAA

UNDER FIVES PROJECT REPORT OF THE MANAGEMENT COMMITTEE Tre Mon8gement CotNmittee present their ￿port and fin8ncial staternents for the year ended 31 Mareh 2023. The financtal ststements have been prepared in accordanTr wth the accDunting policies set out in ngte 1 to the accounts and compty wth the charity's trust deed, thé Ch8rities Act 2011 and AcwuntiThJ and ReportirwJ by Charities.. Ststement of Recommended Practice applicable to charitiès preparing thoir accounts in accordan¢e with thè Financial Reporting Stsnd8rd applicable in thè UK and Republic of Ireland IFRS1021 leff&ctNe 1 January 20191. OBJECTIVES The objesttves ofth8 charty are.. To protect and presewè th6 physi&g1 and mental heatth of childrèn and their parents in the London Borough of G￿ell￿-h by the provision of an cjutstsnding Ofsted nursery and dayca￿ provision for b8biès and children ag8d 2￿ years who are in need and therèby relieving the stress of thelr parents who are Similarly in need by virtue of thèir social or ￿OnOmIC circumstan￿$. REVIEW OF THE YEAR This year h8s been one of gro%*th for the Under 5.5 prtsje¢t, we have at last managed to secure and open se(x)nd site in the borough. The sitè is man89ed by Roy31 Greenwl¢h ¢oun¢il who we have a's8rvic8 providerf lease with. We have invested heavily In the sitè as it was hug&ty run dDwn. we did not get a￿1 loan5, butwg did occur some arrears wrfh our rents throughout the year. We opened the nursery room by room until we were able tD oper2te by the end of the year. this included opèning our first ever'baby room,. Opening the second site has meant we have more than doubled our capacity to reach even rnore families in the borough. We have stuck true to our ethos and macle a cOn￿rted effort that inclusion is at the heart of t41$ development. Recènly opÈning'ThÈ Burrow. on site, a separate area where we focus on inclusion worrf with our SEN children. Sarah h35 8lso Successful￿ acquired grant funding to run a SEN support group for parents who attend th6 nursery, but also for families in need throughout the borough, this is due to launch in SÈptènj.￿r 23. We finish this year on a high, Kqth wonderful devetopments and a beautlful second site. STATEMENT ON PUBLIC BENEFir ThE objectives and revigw of the year sections of this report clearly set out the atttmties whitth thè charity undertakes for the public beneft. The trustees confirm that they have complied witi the duty in section 4 of th8 Charities Act 2006 to have due regard to public ￿nefit guidance published by the Commission in detemiining the activibe5 undertaken by fhe charty. FINANCIAL REVIEW Total incorne for year was £440.321 12022". £227.3331. Total expenditure for the year was £495,096 12021. £240,455). This resultad In a d$ficit for the year of £54,77512022'. £13,122). The ftEnds at 31 March 2023 were £41,102 in defic￿l2022.. £13,6Y31, of whlch none12022: £nlll ar6 restrirtètt. RESERVES POLICY The balance of Un￿strICte<l fvnds at yéar ènd was £41.102 in doffcit12022.. £13,673). Th8 Trust8e5' policy on reserves is to have a minimum of two months cover of budgeted operating costs approximalety £77,000 12022= £33,000). The current level of ￿sen￿e$ is below the Trustee's poli¢y, but to the Current climate, and the second site opening we have unfortunatety nol been able to build any ￿Se￿¢S back up, wé aro hoping this is somèthing we can start to prioritisè in the com(ng yèar.

UNDER FEVES PROJECT REPORT OF THE MANAGEMENT COMMrrrEE GOING CONCERN The org8nisation is in the pro￿8 of taryng out 8 review of all of its incoming streams and project costs. We have had a year full of changè and rapid growth, this has inevitably m88ni that invesknent to h8ppen for the projeGtto take place, wè 8r8 now looking to thè future year to rBgain ffinan¢ial stsbility. The fr￿S tt)at w& are in are very challenging, and there is a national Crisis of Jnderfunding in earty years, we ar hoping the fuiurè brings wsthvè changes to government poticy 8t thÈ very heart of how early years is valuèd. We continue to remain positive and hope that the sècond sit8 will offer us more security and financial safety than w8 have had previously, we are a k)ng-Standing charity that is looking to move forwatd and upwarLfs. On the basis the Trustees consider thè tyJirKJ concem basis for the preparat￿n of the accounts to be appDJpriate. RISK MANAGEMENT The trustees have rÈwew?d the malor and financial risks that irnpact on the work o'i the ¢harfty. They systeFns that have been est&blished Ènable the trustees to review and tske necessary steps b lessen these risks. The trustees considgr the fcllowlng to bè th8 principal ftsks that the charity faces: Loss of income from the London borough of Greenwch - risk ￿￿]gated by effectlve monttorlng of finances and actwety seeking alternative forms of fvnding. Children's Safety - Msk mitigated by ensuring all currènt h881th 8nd safety requlrements ara met or eX￿eded. STRUCTURE, GOVERNANCE AND MANAGEMENT Cunstitution Thè Charity i5 an unincorporated entity, govemed by a Constitution dated April 1990 and arnended on 16 September 1993 and 17 April 2008. It is a registered charrty, nurnb8r 1026486. Trustèes Thè followng havè s8r118d as Trustees during the year to dats.. Edel Redmond Jenny Thompson Helen Catr Management Committee The following have seNed oft thè Management Committee durfng the yearto date= Jenny ThompSDn (Chairl Edel Redmond (Treasurer) Jestnilla Sanoon Charlie May Chloè Carnèron Emma Cameron Th8 Managem8nt Committee shall cons151 of at least 6 mèmbers and not more than 12 members. The Management Committee shall be eleeled at thé Annual General IMÈeÉing each year. The Managetnent Cornmittee shall m8et at188St 3 times a year.

UNDER FIVES PROJECT REPORT OF THE MANAGEMENT COMMifTEE STATEMENT OF TRUSTEES, RESPONSIBILMES The trustees are responsible for preparing the T￿￿tee$. Annual Report and the financial statements in accordanee wilh applicable law and United Kingdotn Accounting StarKlai(ts Iunited Kingdom Genetalty AC￿pted Accounting Practice). Th&13w applicable to ¢harities in England & Wales requires the trustee$ to pr¢par¢ fin8nGial statptlleiits foF each financial year which gwe a tru& and fair view of the state of affairs of the charity and of the inwming resour¢es and application of resources of the charty for that period. In preparing these financial ststements, the trL6tees ai Q required to.. select su￿ab￿ acccAJnting policies and then appty them consistentty,. Dbserve the methocSs and principles in the Charities SORP 2015 IFRS 1021., make judgements and estimates that are reasonable and prudenL stat6 whethèr applicable accounti￿ standards have been followed. subject tt) any fflaterial departur8S disclosèd and èxplained in the financial ststements., pr8paie th& fnancial statèmènts on th& going COn￿M basis unless it 1$ inappropriat8 tQ p￿L.rne that the charty will continue in operdtK)n. The trustee5 are responsible for keeping proper accounting records that disclose wth rèasonable ￿¢CUra¢Y at any time the finanGial position of thg charity and 8nable thern to ensur& that the financial staternènts comply wth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and thB provfsions of the Iwst deed. Th&y are also responsible for 53feguar(ling the assÈtS Df the charity and hence for taking reasonable steps for the prevenli¢n arKI dètèction of fraud and other irregularitles Approvèd by the Trustses and slgned on their behalf: Jenny Thompson Management Commthe Dats 08. os

UNDER FIVES PROJECT INDEPENDENT EXAMINER'S REPORT TO THE PIANAGEMENT COMMirrEE I r8pDrt to the charity trustees on my examinaVon of the accounts ol the charity for the year ènded 31 Mar¢h 2023 which are set out on pagès 6 to12. Responsibilities and basis of report As the thaitws IrustBes you are responsti>le for the prèpardtion cFf the ar£ounts in awordance wth tr,e requirements of the Charities A¢t 2011 I'thg A¢YI. I rÈport in ￿SpeCt of my examination of thp charity's accouFIts carriEd OLrt undEr section 145 of the Act and in carrying out my examination I have followed all appluble Direct*ons givèn by the Charity Comrnission under section 14515llbl of thè Act. Indepèndent oxamintfs statement I have CDmpleted Fny exarnination. l (x)rffitm that nu material rnatters have (x)rn& to rny attention in conn8ctiors Wi the 8xamination giving me Cause to bgligve that in any tnaterial r8SP8Ct.. accounting records were not kept in respect of charity as requiTed by section 130 of th& ABt-, or the awounts do not accord with those r&cords', gr the accounts do not comply wth the applicable requirements concerning the form and ￿ntrnt of accounts set out in the Charities (Accounts and Reporisl Regulations 2008 other than any reqÈsirÈmènt that the ae¢ounls give a 'true and fair ￿ew. which 15 nDt a matter considered as part of an independent ey.atninats"on. I have no concems a￿1 have come across no other matters in connection wtth the exam:nation to which att8ntion shoulcl be drawn In thls report in orderto enable a proper understanding of the aruunts t) be re8ch8d. C. Cooper IFCCAI For and on tsehalf of Azets Audit Service8 knrpited Accounknts First FIcK)r Rwèr house 1 Maidstone Road Sidcup DA14 5RH

UNDER F]VES PROJEQT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unre5trictEd Funds Unr85tricted Total 2Q22 Notes Tot#1 2023 Income frorn.. Charitable activlties.. Feès and nursèry vtsuch6rs Grants receivable Bank interg$t 121,234 319,071 121,234 319,071 16 47,192 180,141 Total income 440,321 440.321 227,333 Expenditure on= Charitable actiV￿.eS.. Provision of nursèry tsre 495,096 495,096 240,455 Total expendhur 495,096 495,096 240,455 Net income 154,7751 {54.7751 113.1221 Rèconcillation of funds: Total funds broughtlorward 13,673 13,673 26.795 Totsi funds earrièd forward 141,1021 13.673 All transactlons are detfved from conttnulng a¢tivit*s. All recognis&d gains and70￿8S ar8 included in the Stat8rn•nt of Financial Actiwtias.

UNDER FfvES PROJECT BALANCE SHEET AS AT 31 MARCH 2023 Notes 2023 2022 Frxed assets Tangible Ilxed zssets t,338 1,797 Current assets Cash at bank antj in hand 1.249 14.476 1249 14,476 Creditors: Amounts falling due within one year 143,6891 12,6001 Net Current assets 142,4401 11.876 Net assets 141,1021 13,673 FUNDS Unr8stricted Funds 141,102) 13,673 141,102} 13,673 The fiianclal slatements wefft approved on ...........................and signed on tehaff of thè Board by= Jenny Thomp$on Management Committèè Edel Redmond Mana9emertt Commiltee

UNDER FIVES PROJECT NOTES TO THE FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Basis of preparation Under FpiEs Project is a unincorporated chartty in the United Kingdom, govemed by a CDnstitubon dala April 1990 and 8mended on 16 September 1993 8nd 17 April 2011. The address o.. the wistered offi is given in 'the charity information Dn page 1 of these financial ststements. Tre natLtE of the ch2ritys operations and principal actiwties are detailed on page 2. The financial slatements have been pr8pared in accordanoe with the chariils gov8ming documènL the Charities Act 2011 and 'Accounting and Reporting by char￿e$.. Ststement of Recommended Practice applicable to Chari￿s preparmg their a(xounts in awordance with the tri1i8nci¥l Rèptsrting Stantiard appli¢able in the UK and Republi¢ of Ireknd IFRS 1021 issues in October 2019. TtrE charty 18 a Public Benèfit Entty as defined by FRS102. The financial ststernents are prepared on 8 going concern basis und8r the histoti(xl c05t convEntion, modrfred to inclLKle certain items at fair value. The financial stslements are prepared in sterlin9 which 1$ the funGtional Currency of Ihe chaTty. The signific2nt acctsuntin9 policies applied in the preparation of tt)?sè financial statements ar& set out below. These policiE5 have been consistenuy applied to all years presented unless othèrwisè stated. 12 Incom8 All income is included in the SlateTnent of Financial Activities ISOFA) whèn the charity is legally ￿nti￿ed to the Income after any performance conditions have been met. the amount can be measured reliably and tt probable that the incomè WI￿ be re￿Ived. For donations to be recogni5ed the charity wll have be2p. notthed of the atnounts and the settlement date in writing. If theTe are conditions attached to the dDnaton and Ihis requires a level of Ferfarmancè before entitlement can be obt£ined then incorne is deferred until those EondiioTrs are fully met or the fumlment of those conditions is wrthin the o)ntrol of the charity and rt is probable that they M411 be fulfilled. The tharity recèives govemfflent grants in rèspect of nursery fees. Income from government and other grants a￿ r￿gnised at fair value when the charity has entitlem￿t after any performaiice conditions have been met. it is probable that the in¢ome will be received aid the amount can b8 ffleasur8d r8liably. entit￿ment is not met then these amounts are deferred. Expenditure All expenditurè is accounted for on an 8￿ru31$ basi5 and has been cla55thed under heading5 that aggieg3te 311 tx)sts related to the category. Expenditui? is re￿niSed where there ts a legal cr construotive obligation to make payments to third parties. it 15 probablp Ihal the setuament will be r￿￿Ere￿ and the arnount of the obligation tan bè measured reliably. tt is categorised under the following heading- Expenditurè on charitable acttvitiBs indudes those Costs incurred by the charity in thÈ delwery of its activibes a￿1 Services for its b6nefiaaries. It includes both costs allocated dlreetEy ta such activities and those costs of 2n indirect nattjrè nèeèssary to support them. Fund$ Unrestrlcted funds are availablg for usè at the dis¢￿tion of the trustees in furt￿3rar￿e of th8 g8n8r31 objectives of the charity and which have not beèn designated for other purposes.

UNDER FiVES PROJECT NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Support Costs alloCat￿n Support Costs are those that assist the work of the ch2rty but do nDt diredy represent charitable activities and inctudè office costs, governance costs, administrativè payroll oosts. They are incurod ￿1￿ctlY in support of expenditure on the objacis of thè charity and include projed managetnent carried out at Headquarters. Wherè support costs ttannot be dire¢dy attributed tD particular hBadiftgs they have been allocated lo expenditure on charitable activities on a basis consistent wtth use of the resDurcès. Tangible fixed assets Tangible fixed assets 2re stated at cost lor 4JeernEd CDStI or valu31ion less accunulatsd depreclation and 8ccumulated impaim)ent losses. Cost includes Costs d(re¢tly attributable to making the &55et capsble of operating as intended. Depreciation is promded on 811 tangible fixed assets, at rates calculatèd to write off the cost, less eslmaled residual value, of each asset on a systematic basis ovèr its expected us&fvl life as follows.. Computers and equipment - 25% straight line Cash at bank and in hand Cash at bank and cash in hand includes eash ancl short tertn highty liquid iiivesiments wfth a short maturity of three month5 or IESS from th8 date of acquisthon gr opening of the deposlt or similar account. Deblors and credltors reoelvable I payable within on& year Debtors and credkors wkn no statsd interest rat& and receivablè or payable wfthin one ye¥r are record&d at transaction prfcè. Any ltsssès arising from impairment 8rè r8cognised in expendittjre. Corporation Ta The charrty is an èxempt Charity within the meaning of schedule 3 of the Charities Act 2D', 1 and is con5ideied to pass the tests s8t out in Paragraph 1 SGh8du19 6 FinanG8 W. 2010 and thereforg It megts the definition of a charitable cornpanylor UK corporation tsx purp05ES. 1.10 Goin9 ¢on¢ern As at 31 March 2023 thè ttharty had nèt liabilitiè5 ttttalling £41,102 12022.. N8t assers of £13.6731 this was due to the Tent in arrears which has been setued after the year end date. The level of funds held at the datè of the prèparation of thè financial statemènts is suffieiènt for thè trustèès to believe Ihat the charty is able to (x)ntinue irading for at kast 12 rnc)nths from the balarty sheet signing date, ther?fore the ffnancial statemènts have been p￿pared on a going concem basis. 1.11 Judgements and key source$ of estimation uncertainty Accounth"ng eSth"Mat￿ and judgements are continually evaluated and are based on historical experience and oth&r faGtors, inrjuding ex(￿￿tiONS of futuro pvents that ale bpli8ved to b8 rea50nable under the cir¢urnstsnces. The follDWing jL¥Jgempnts (apart from those involving estimates) have been made in the process of applying the above oecountin9 polieiès that h8vè had the most slgnlficant effèct on amounts r8cogis• in the financial statements..

UNDER FNES PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1.11 Judgements and key source5 of pstimation uncertainty l¢ontinLEedl Us&fuJectwpomic likES of tsngiblé èssets The annual depreCIat￿n ch8rge for tangible assets is sensitive to changès in th8 esumated uselul econom2c Iwes and residual valuès of tr)e assets. The usèful economic Ipies and residual Valu￿ are Sssessed annually. Thèy are 8mendÈd when necessary to refiect current èstimates, based on technoSogical advanTrment, future InYe5trnents, economic utilisation 2nd the physical condition of th6 assets. See note 6 for the rarying amclunt of the tangible fixeLI assets,and notè 1.6 for th8 useful economlc Ilvès for 88ch ¢las5 of assets. Bad debts Debtors are regulady reviewed for re(ovèrability. any debts which in thp opinion ol menagement are not iecovefdble are provided for as a spècthc bad d8bL There are no key a5suniptions wnceming the futurè and othèr key sources of estimalion uncertainty at the Teporting date that have a svJnificant risk ol causing a material adjustment to the carying amounts of assets and IlabS1its"es wthin the next financi81 year. INCOM# FROM CHARITABLE ACTIVITIES 2023 2D22 London Borough af Greenwa¢h 319.071 180.141 319,011 180.141 STAFF COST5 AND TRUSTEE, REMUNERATION 2023 2022 Wages a￿1 salafi6S Social Securty costs ReNuibnent 310,157 4,180 152,018 4,180 3D3 314,652 156,501 Thè avèr8ge numb8r of empbyees Ilnduding casual and part time staff) durin9 the financial year was 19 12022: 81 Ther8 W8r8 no 8mploye8s eamlng more than £60,DOO during the year12022'. none). None of the Trustsès t8C8iV8d any r8mun8r8tion or reimbursed expenses during the year12022.' none). 10

UNOER FIVES PROJECT NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CREDITORS: Amounts falling clue due within onè year 2D23 2D22 Trade Creditors Accruals Other ¢redilors 3,034 35,304 2,D39 561 43.689 2,600 RELATED PARTY TRANSACTIONS Ther8 were no related paty transactions during the year12022: None). 12

Azets Audit Services River House 1 Maidstone Road Sidcup Kent DA14 5RH

Your ref: CJC/HH

27 February 2024

Dear Sirs

Under 5’s Project

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 March 2023. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief.

General

Internal control and fraud

Assets and liabilities

Accounting estimates

Loans and arrangements

Legal claims

Law and regulations

Related parties

Subsequent events

Going concern

Grants and donations

We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiners and confirm that so far as we are aware, there is no relevant information needed by you in connection with preparing your independent examiner’s report of which you are unaware.

Each director has taken all the steps that he/she ought to have taken as a director in order to make themself aware of any relevant independent examination information and to establish that you are aware of that information.

Yours faithfully

..............................................................................................................................

Trustee

Signed on behalf of the board of trustees