| Page | ||||
|---|---|---|---|---|
| Report ofthe | Trustees | 1 | to | 10 |
| Independent | Examiner's Report |
|||
| Statement of | Financial Activities | 12 | ||
| Balance Sheet | 13 | to | 14 | |
| Notes to the Financial Statements | 15 | to | 29 | |
| Detailed Statement of Financial Activities | 30 | to | 32 |
| 31.10.22 | 31.10.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | f | f | E | f | ||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
2,488 | 11,760 | 14,248 | 14,452 | ||
| Charitable activities |
||||||
| Courses and training | 4,134 | 4,134 | 2,701 | |||
| Membership subscriptions |
74,524 | 60 | 74,584 | 71,795 | ||
| Newsletter and publications Federation meetings |
18,576 7,283 |
18,576 7,283 |
9,907 9,471 |
|||
| Other trading activities |
16,648 | 3,163 | 19,811 | 12,120 | ||
| Investment income |
26,075 | 26,075 | 22,749 | |||
| Other income | 6,614 | 6,614 | 5,750 | |||
| Total | 156,342 | 14,983 | 171,325 | 148,945 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 14,495 | 4,336 | 18,831 | 9,730 | ||
| Charitable activities |
||||||
| Courses and training | 5,303 | 5,303 | 2,900 | |||
| Newsletter and publications Federation meetings |
12,319 13,533 |
12,319 13,533 |
5,114 8,743 |
|||
| Support costs | 117,210 | 117,210 | 101,593 | |||
| Governance | 6,073 | 6,073 | 5,328 | |||
| Other charitable expenditure |
4,036 | 4,036 | 1,247 | |||
| Total | 172,969 | 4,336 | 177,305 | 134,655 | ||
| Net gains/(losses) on investments |
(70,687) | (70,687) | 67,634 | |||
| NET INCOME/(EXPENDITURE) | (87,314) | 10,647 | (76,667) | 81,924 | ||
| Transfers between funds |
15 | (3,971) | 3,971 | |||
| Net movement in funds |
(91,285) | 14,618 | (76,667) | 81,924 | ||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward |
1,178,964 | 14,255 | 1,193,219 | 1,111,295 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,087,679 | 28,873 | 1,116,552 | 1,193,219 |
| 31.10.22 | 31.10.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Tota I |
|||
| funds | funds | funds | funds | |||
| Notes | f | f | E | f | ||
| FIXEDASSETS | ||||||
| Tangible assets | 10 | 338,115 | 338,115 | 345,492 | ||
| Investments | 11 | 580,216 | 580,216 | 615,725 | ||
| 918,331 | 918,331 | 961,217 | ||||
| CURRENT ASSETS | ||||||
| Stocks Debtors Cash at bank and |
in hand | 12 13 |
1,659 26,498 167,150 |
28,873 | 1,659 26,498 196,023 |
1,843 37,382 230,181 |
| 195,307 | 28,873 | 224,180 | 269,406 | |||
| CREDITORS | ||||||
| Amounts falling due within one year |
14 | (25,959) | (25,959) | (37,404) | ||
| NET CURRENT ASSETS | 169,348 | 28,873 | 198,221 | 232,002 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 1,087,679 | 28,873 | 1,116,552 | 1,193,219 | ||
| NET ASSETS | 1,087,679 | 28,873 | 1,116,552 | 1,193,219 | ||
| FUNDS | 15 | |||||
| Unrestricted funds Restricted funds |
1,087,679 28,873 |
1,178,964 14,255 |
||||
| TOTAL FUNDS | 1,116,552 | 1,193,219 |
| OTHER TRADING | OTHER TRADING | OTHER TRADING | ACTIVITIES | ACTIVITIES | ACTIVITIES | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31.10.22 | 31.10.21 | ||||||||||
| f | f | ||||||||||
| Fundraising | events | 19,313 | 11,348 | ||||||||
| Shop income | 498 | 772 | |||||||||
| 19,811 | 12,120 | ||||||||||
| INVESTMENT | INCOME | ||||||||||
| 31.10.22 | 31.10.21 | ||||||||||
| E | f | ||||||||||
| Income from | investments | held on a recognised | stock | exchange | —UK | 25,597 | 22,304 | ||||
| Bank interest | receivable | 478 | 445 | ||||||||
| 26,075 | 22,749 | ||||||||||
| SUPPORT COSTS | |||||||||||
| Governance | |||||||||||
| Finance | Other | costs | Totals | ||||||||
| f | E | f | f | ||||||||
| Support costs | 1,561 | 115,649 | 117,210 | ||||||||
| Governance | 6,073 | 6,073 | |||||||||
| 1,561 | 115,649 | 6,073 | 123,283 | ||||||||
| Support costs, | included | in | the above, are as follows: | ||||||||
| 31.10.22 | 31.10.21 | ||||||||||
| Support | Total | Total | |||||||||
| costs | Governance | activities | activities | ||||||||
| f | E | f | f | ||||||||
| Bank charges | 1,561 | 1,561 | 843 | ||||||||
| Wages | 66,898 | 66,898 | 53,101 | ||||||||
| Social security | 71 | 71 | 49 | ||||||||
| Pensions | 1,159 | 1,159 | 928 | ||||||||
| Operating leases - plant |
and machinery | 983 | 983 | 983 | |||||||
| Property expenses | 12,669 | 12,669 | 9,542 | ||||||||
| Insurance | 5,385 | 5,385 | 3,924 | ||||||||
| Other professional | fees | 7,199 | 7,199 | 10,770 | |||||||
| Telephone | 4,122 | 4,122 | 3,818 | ||||||||
| Printing, postage and stationery |
5,006 | 5,006 | 4,882 | ||||||||
| Other administrative | expenses | 2,253 | 2,253 | 2,338 | |||||||
| Lega I fees |
1,571 | 1,571 | 1,436 | ||||||||
| Depreciation oftangible Board ofTrustees |
fixed assets | 8,333 | 2,993 | 8,333 2,993 |
8,281 2,153 |
||||||
| Accountancy | 3,080 | 3,080 | 2,840 | ||||||||
| Carried forward | 117,210 | 6,073 | 123,283 | 105,888 |
| SUPPOR | T COSTS - continued | ||||
|---|---|---|---|---|---|
| 31.10.22 | 31.10.21 | ||||
| Support | Tota I |
Total | |||
| costs | Governance | activities | activities | ||
| f | f | f | f | ||
| Brought | forward | 117,210 | 6,073 | 123,283 | 105,888 |
| Training | 335 | ||||
| 117,210 | 6,073 | 123,283 | 106,223 |
| 31.10.22 | 31.10.21 | |||
|---|---|---|---|---|
| f | f | |||
| Depreciation | —owned assets | 8,332 | 8,281 | |
| Other operating | leases | 983 | 983 | |
| Pension costs | 1,159 | 928 |
| 31.10.22 | 31.10.21 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Wages and salaries | 66,898 | 53,101 | ||||
| Socia I security costs | 71 | 49 | ||||
| Other pension costs | 1,159 | 928 | ||||
| 68,128 | 54,078 | |||||
| The average | monthly | number of employees | during the year was as follows: | |||
| 31.10.22 | 31.10.21 | |||||
| Administrative | staff | 4 | 3 | |||
| No employees | received emoluments | in excess off60,000. |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| f | f | f | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
9,345 | 5,107 | 14,452 | ||
| Charitable activities |
|||||
| Courses and training | 2,461 | 240 | 2,701 | ||
| Membership subscriptions |
71,795 | 71,795 | |||
| Newsletter and publications |
9,907 | 9,907 | |||
| Federation meetings |
9,471 | 9,471 | |||
| Other trading activities |
12,120 | 12,120 | |||
| Investment income |
22,749 | 22,749 | |||
| Other income | 5,750 | 5,750 | |||
| Total | 143,598 | 5,347 | 148,945 | ||
| EXPENDITURE ON | |||||
| Raising funds | 9,730 | 9,730 | |||
| Charitable activities |
|||||
| Courses and training | 2,554 | 346 | 2,900 | ||
| Newsletter and publications |
5,114 | 5,114 | |||
| Federation meetings |
8,743 | 8,743 | |||
| Support costs | 101,593 | 101,593 | |||
| Governance | 5,328 | 5,328 | |||
| Other charitable expenditure |
1,247 | 1,247 | |||
| Total | 134,309 | 346 | 134,655 | ||
| Net gains on investments | 67,634 | 67,634 | |||
| NET INCOME | 76,923 | 5,001 | 81,924 | ||
| Transfers between funds | (1,441 j | 1,441 | |||
| Net movement in funds |
75,482 | 6,442 | 81,924 | ||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward | 1,103,482 | 7,813 | 1,111,295 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,178,964 | 14,255 | 1,193,219 |
| TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | Office | and | ||
| property | equipment | fittings | Totals | |
| f | f | f | f | |
| COST | ||||
| At 1 November 2021 |
429,848 | 13,869 | 27,866 | 471,583 |
| Additions | 955 | 955 | ||
| At 31October 2022 | 429,848 | 14,824 | 27,866 | 472,538 |
| DEPRECIATION | ||||
| At 1 November 2021 |
95,648 | 8,916 | 21,527 | 126,091 |
| Charge for year | 5,720 | 1,806 | 806 | 8,332 |
| At 31October 2022 | 101,368 | 10,722 | 22,333 | 134,423 |
| NET BOOK VALUE | ||||
| At 31October 2022 | 328,480 | 4,102 | 5,533 | 338,115 |
| At 31October 2021 | 334,200 | 4,953 | 6,339 | 345,492 |
| FIXEDASSET INVESTMENTS | ||||
| Listed | ||||
| investments | ||||
| f | ||||
| MARKET VALUE | ||||
| At 1 November 2021 |
615,725 | |||
| Additions | 48,314 | |||
| Disposal s | (8,708) | |||
| Revaluations | (75,115) | |||
| At 31October 2022 | 580,216 | |||
| NET BOOK VALUE | ||||
| At 31October 2022 | 580,216 | |||
| At 31October 2021 | 615,725 |
| 31October | 31October | ||
|---|---|---|---|
| 2022 | 2021 | ||
| f | f | ||
| M&G Corporate | Bond | 47,007 | 58,608 |
| AXA Investments | 37,177 | 40,956 | |
| Pimco Global Advisers | 32,400 | 41,160 | |
| Unilever | 29,809 |
| 31.10.22 | 31.10.21 | ||||
|---|---|---|---|---|---|
| E | f | ||||
| Cost | 525,639 | 487,972 | |||
| The fixed asset investments | were valued on an open market | basis on 31October 2022 by Quilter Cheviot. | |||
| 12. | STOCKS | ||||
| 31.10.22 | 31.10.21 | ||||
| f | f | ||||
| Goods for resale | 1,659 | 1,843 | |||
| 13. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||
| 31.10.22 | 31.10.21 | ||||
| f | f | ||||
| Trade debtors | 3,458 | 8,250 | |||
| Other debtors | 15,828 | 16,712 | |||
| Prepayments | 7,212 | 12,420 | |||
| 26,498 | 37,382 |
| CREDITORS: AMOUNTS | FALLING DUE WI | THIN ONE YEAR | |||
|---|---|---|---|---|---|
| 31.10.22 | 31.10.21 | ||||
| f | f | ||||
| Trade creditors | 780 | 2,075 | |||
| Other creditors | 25,179 | 35,313 | |||
| Accruals and deferred | income | 16 | |||
| 25,959 | 37,404 | ||||
| MOVEMENT IN FUNDS |
|||||
| Net | Transfers | ||||
| At | movement | between | At | ||
| 1.11.21 | in funds | funds | 31.10.22 | ||
| E | E | E | E | ||
| Unrestricted funds |
|||||
| General fund |
1,127,490 | (87,464) | 12,473 | 1,052,499 | |
| Denman College - Surrey Room |
1,994 | (1,994) | |||
| IT Fund Denman ACM f1Draw |
6,372 1,773 |
(6,372) (1,773) |
|||
| Promotion Fund |
1,168 | (90) | 1,078 | ||
| Friendship Fund |
21,242 | (702) | 2,800 | 23,340 | |
| Eileen Bowler Legacy | 16 | (16) | |||
| Maintenance fund |
6,106 | (6,106) | |||
| Training Fund |
7,410 | 234 | 2,000 | 9,644 | |
| Bursary Fund | 5,393 | (5,393) | |||
| General Bursary |
708 | 410 | 1,118 | ||
| 1,178,964 | (87,314) | (3,971) | 1,087,679 | ||
| Restricted funds | |||||
| Let's cook | 1,363 | 1,363 | |||
| Friendship Fund |
9,391 | 8,427 | (2,800) | 15,018 | |
| Cranleigh Show |
680 | 680 | |||
| Surrey Serenaders | 2,269 | (1,173) | 1,096 | ||
| Crafty Ladies | 401 | 60 | 461 | ||
| Camera club | 91 | 91 | |||
| 3CScience group | 60 | (60) | |||
| General Bursary |
16 | 16 | |||
| Denman Bursary |
6,815 | 6,815 | |||
| Joy Morgan Bursary |
3,333 | 3,333 | |||
| 14,255 | 10,647 | 3,971 | 28,873 | ||
| TOTAL FUNDS | 1,193,219 | (76,667 ) | 1,116,552 |
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| E | f | f | E | |
| Unrestricted funds |
||||
| General fund | 154,142 | (170,919) | (70,687) | (87,464) |
| Promotion Fund |
(90) | (90) | ||
| Friendship Fund |
1,123 | (1,825) | (702) | |
| Training Fund |
369 | (135) | 234 | |
| Genera I Bursa ry |
708 | 708 | ||
| 156,342 | (172,969) | (70,687) | (87,314) | |
| Restricted funds | ||||
| Friendship Fund |
8,427 | 8,427 | ||
| Surrey Serenaders | 3,163 | (4,336) | (1,173) | |
| Crafty Ladies | 60 | 60 | ||
| Joy Morgan Bursary |
3,333 | 3,333 | ||
| 14,983 | (4,336) | 10,647 | ||
| TOTAL FUNDS | 171,325 | (177,305) | (70,687) | (76,667) |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| At | movement | between | At | ||
| 1.11.20 | in funds | funds | 31.10.21 | ||
| f | f | f | f | ||
| Unrestricted funds |
|||||
| General fund | 1,058,454 | 77,144 | (8,107) | 1,127,491 | |
| Denman College - Surrey Room |
1,994 | 1,994 | |||
| IT Fund | 6,049 | (177) | 500 | 6,372 | |
| Denman ACM |
f1 Draw | 1,773 | 1,773 | ||
| Promotion Fund |
1,150 | 18 | 1,168 | ||
| Friendship Fund |
18,776 | 300 | 2,166 | 21,242 | |
| Eileen Bowler | Legacy | 27 | (11) | 16 | |
| Maintenance | fund | 5,106 | 1,000 | 6,106 | |
| Training Fund |
4,760 | (351) | 3,000 | 7,409 | |
| Bursary Fund | 5,393 | 5,393 | |||
| 1,103,482 | 76,923 | (1,441) | 1,178,964 | ||
| Restricted funds | |||||
| Let's cook | 1,363 | 1,363 | |||
| Friendship Fund |
6,450 | 5,107 | (2,166) | 9,391 | |
| Cranleigh Show |
680 | 680 | |||
| Surrey Serenaders | (26) | 2,295 | 2,269 | ||
| Crafty Ladies | 401 | 401 | |||
| Camera club | 91 | 91 | |||
| 3CScience group | (80) | 140 | 60 | ||
| 7,813 | 5,001 | 1,441 | 14,255 | ||
| TOTAL FUNDS | 1,111,295 | 81,924 | 1,193,219 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| E | f | f | E | ||
| Unrestricted funds |
|||||
| General fund | 142,909 | (133,399) | 67,634 | 77,144 | |
| IT Fund | (177) | (177) | |||
| Promotion | Fund | 18 | 18 | ||
| Friendship | Fund | 689 | (389) | 300 | |
| Eileen Bowler Legacy | (11) | (11) | |||
| Training Fund |
(351) | (351) | |||
| 143,598 | (134,309) | 67,634 | 76,923 | ||
| Restricted | funds | ||||
| Friendship | Fund | 5,107 | 5,107 | ||
| Surrey Serenaders | 240 | (266) | (26) | ||
| 3CScience | group | (80) | (80) | ||
| 5,347 | (346) | 5,001 | |||
| TOTAL FUNDS | 148,945 | (134,655) | 67,634 | 81,924 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| At | movement | between | At | ||
| 1.11.20 | in funds | funds | 31.10.22 | ||
| f | f | f | f | ||
| Unrestricted funds |
|||||
| General fund |
1,058,454 | (10,320) | 4,366 | 1,052,500 | |
| Denman College |
—Surrey Room | 1,994 | (1,994) | ||
| IT Fund | 6,049 | (177) | (5,872) | ||
| Denman ACM f1 Draw |
1,773 | (1,773) | |||
| Promotion Fund |
1,150 | (72) | 1,078 | ||
| Friendship Fund |
18,776 | (402) | 4,966 | 23,340 | |
| Eileen Bowler Legacy | 27 | (11) | (16) | ||
| Maintenance fund |
5,106 | (5,106) | |||
| Training Fund |
4,760 | (117) | 5,000 | 9,643 | |
| Bursary Fund | 5,393 | (5,393) | |||
| General Bursary |
708 | 410 | 1,118 | ||
| 1,103,482 | (10,391) | (5,412) | 1,087,679 | ||
| Restricted funds | |||||
| Let's cook | 1,363 | 1,363 | |||
| Friendship Fund |
6,450 | 13,534 | (4,966) | 15,018 | |
| Cranleigh Show |
680 | 680 | |||
| Surrey Serenaders | (1,199) | 2,295 | 1,096 | ||
| Crafty Ladies | 60 | 401 | 461 | ||
| Camera club | 91 | 91 | |||
| 3CScience group | (80) | 80 | |||
| General Bursary |
16 | 16 | |||
| Denman Bursary |
6,815 | 6,815 | |||
| Joy Morgan Bursary |
3,333 | 3,333 | |||
| 7,813 | 15,648 | 5,412 | 28,873 | ||
| TOTAL FUNDS | 1,111,295 | 5,257 | 1,116,552 |
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| f | f | f | f | |
| Unrestricted funds |
||||
| General fund | 297,051 | (304,318) | (3,053) | (10,320) |
| IT Fund | (177) | (177) | ||
| Promotion Fund |
(72) | (72) | ||
| Friendship Fund |
1,812 | (2,214) | (402) | |
| Eileen Bowler Legacy | (11) | (11) | ||
| Training Fund |
369 | (486) | (117) | |
| General Bursary |
708 | 708 | ||
| 299,940 | (307,278) | (3,053) | (10,391) | |
| Restricted funds | ||||
| Friendship Fund |
13,534 | 13,534 | ||
| Surrey Serenaders | 3,403 | (4,602) | (1,199) | |
| Crafty Ladies | 60 | 60 | ||
| 3CScience group | (80) | (80) | ||
| Joy Morgan Bursary |
3,333 | 3,333 | ||
| 20,330 | (4,682) | 15,648 | ||
| TOTAL FUNDS | 320,270 | (311,960) | (3,053) | 5,257 |
| Detailed Statement of Financial Activities | ||||||
|---|---|---|---|---|---|---|
| for the Year Ended 31October 2022 | ||||||
| 31.10.22 | 31.10.21 | |||||
| E | E | |||||
| INCOME AND | ENDOWMENTS | |||||
| Donations and | legacies | |||||
| Donations | 10,915 | 6,991 | ||||
| Legacies | 3,333 | |||||
| Grants | 7,461 | |||||
| 14,248 | 14,452 | |||||
| Other trading | activities | |||||
| Fundraising | events | 19,313 | 11,348 | |||
| Shop income | 498 | 772 | ||||
| 19,811 | 12,120 | |||||
| Investment | income | |||||
| Income from | investments | held on a recognised | ||||
| stock exchange | - UK | 25,597 | 22,304 | |||
| Bank interest | receivable | 478 | 445 | |||
| 26,075 | 22,749 | |||||
| Charitable activities |
||||||
| Membership | subscriptions | 74,584 | 71,795 | |||
| Surrey Wl News | 15,363 | 6,880 | ||||
| Courses and | training | 4,134 | 2,701 | |||
| Yearbook | 3,213 | 3,027 | ||||
| Federation meetings |
7,283 | 9,471 | ||||
| 104,577 | 93,874 | |||||
| Other income | ||||||
| Other income | 6,614 | 5,750 | ||||
| Total incoming | resources | 171,325 | 148,945 | |||
| EXPENDITURE | ||||||
| Other trading | activities | |||||
| Purchases | 792 | 607 | ||||
| Events | 18,039 | 9,123 | ||||
| 18,831 | 9,730 |
| for the Year Ended 31Oc | tober 2022 | |||||
|---|---|---|---|---|---|---|
| 31.10.22 | 31.10.21 | |||||
| f | f | |||||
| Other trading activities | ||||||
| Charitable activities |
||||||
| Federation meetings |
costs | 13,533 | 8,743 | |||
| Courses and training | 5,303 | 3,580 | ||||
| Surrey Wl News | 12,319 | 5,114 | ||||
| Other expenses | 4,036 | 1,265 | ||||
| 35,191 | 18,702 | |||||
| Support costs | ||||||
| Finance | ||||||
| Bank charges | 1,561 | 843 | ||||
| Other | ||||||
| Wages | 66,898 | 53,101 | ||||
| Social security | 71 | 49 | ||||
| Pensions | 1,159 | 928 | ||||
| Operating leases |
—plant and machinery | 983 | 983 | |||
| Property expenses | 12,669 | 9,542 | ||||
| Insurance | 5,385 | 3,924 | ||||
| Other professional | fees | 7,199 | 10,770 | |||
| Telephone | 4,122 | 3,818 | ||||
| Printing, postage |
and | stationery | 5,006 | 4,882 | ||
| Other administrative | expenses | 2,253 | 2,338 | |||
| Legal fees | 1,571 | 1,436 | ||||
| Freehold property |
depreciation | 5,720 | 5,720 | |||
| Office equipment | depreciation | 1,806 | 1,754 | |||
| Fixtures and fittings | depreciation | 807 | 807 | |||
| 115,649 | 100,052 | |||||
| Governance costs |
||||||
| Board ofTrustees | 2,993 | 2,153 | ||||
| Accountancy | 3,080 | 2,840 | ||||
| Training | 335 | |||||
| 6,073 | 5,328 | |||||
| Total resources expended | 177,305 | 134,655 | ||||
| Net (expenditure)/income | before gains and | |||||
| losses | (5,980) | 14,290 | ||||
| Realised recognised | gains | and losses | ||||
| Carried forward | (5,980) | 14,290 |
| forthe Year Ended 310cto | ber 2022 | ||
|---|---|---|---|
| 31.10.22 | 31.10.21 | ||
| f | f | ||
| Realised recognised | gains and losses | ||
| Brought forward | (5,980) | 14,290 | |
| Realised gains/(losses) | on fixed asset investments | (70,687) | 67,634 |
| Net (expenditure)/income | (76,667) | 81,924 |