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2020-08-31-accounts

REGISTERED CHARITY NUMBER: 1031071
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 August 2020
for
Jigsaw Pre School
Jigsaw Pre School

Contents of the Financial Statements for the Year Ended 31 August 2020

Page
Chairperson Report 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17
Jigsaw Pre School

Chairperson Report for the Year Ended 31 August 2020

This year has had its challenges with the Coronavirus pandemic.
Jigsaw closed on March 20th for the national lockdown.
Many changes had to be made in the settings before they could be reopened.
Staffworkedextremelyhardtomakesurethesettingswerecovidsafe,includingundertakingthoroughfrequent risk
assessments.
Both settings operated at reduced capacity and child numbers increased each month.
Jigsaw had to access the government furlough scheme to ensure staff retained their jobs throughout the period.
HoweverthroughoutthepandemicJigsawhasbeenabletoobtainGrantsandcurrentlyJigsawisinagood position
financially to weather the storm into 2020-2021.
Page 1
Jigsaw Pre School

Report of the Trustees

for the Year Ended 31 August 2020

The trusteespresenttheirreportwiththefinancialstatementsof thecharityfor theyearended31 August2020. The
trusteeshaveadoptedtheprovisionsof AccountingandReportingbyCharities:Statementof Recommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicablein the
UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and public benefit statement

The charity'sprincipalaimsareto enhancetheeducationanddevelopmentof childrenunderstatutoryschoolage by
encouragingparentstounderstandandprovidefortheneedsoftheirchildrenthroughcommunitygroupsand by
offering appropriate play, education and care facilities, family learning and extended hours groups.
The trusteesconfirmthattheyhavereferredto the guidancecontainedin the CharityCommission'sgeneral guidance
on public benefit when reviewing the charity's aims and objectives.
Therightofparentstotakeresponsibilityforandbecomeinvolvedintheseactivitiesareacknowledged and
encouragedandthegroupofferstheseopportunitiestoallchildreninthelocalareawhatevertheirrace, culture,
religion, means or ability.

ACHIEVEMENT AND PERFORMANCE Charitable activities Executive Managers Report 2020

Jigsaw Pre School (Sproughton)

This year started as normal, however on 20th March we had to close as the country went into lockdown because of the
coronaviruspandemic.We reopened on 4th June after a lot of changes had to made (includingchangingopening times
to fit with the school/reducedhoursand reducednumbersof childrenattending)on a Thursdayand a Fridaywith our
executivemanagerandexecutivedeputyworking.InJulyweopenedupmoreplacesandanothermemberof staff
workedaswell.Jigsawaccessedthegovernmentfurloughschemeallowingotherstafftoretaintheirjobs.This was
accessed for one term.
OursettingatNeedhamMarketalsoreopenedatthesamedateforasmallnumberofchildrenagainstaffedby the
manager and deputy manager.
Thecoronavirusbroughtmanychallenges,notallowingvisitorsintothesetting,removingsoftfurnishings, restricting
whenthechildrenbroughtwiththem.Staffworefacevisorsthroughoutsessionstoprotectthemselvesand the
children. Children brought in their own snacks and drinks.
Due to not providing snacks/cooking activities etc had an impact on chargeable fees.
Fullanddetailedriskassessmentswerecarriedoutatbothsitesandregularlyreviewedwhenopeningupafter each
lockdown– parents were kept informed of changes throughout.Due to the Covid pandemicJigsaw was not able to run
any outings or off site activities
Thanks to our chairpersonfor all his hard work and to the rest of the committee for their support throughoutthe  year,
and a huge thanks to all the staff for their hard work and dedication in both settings throughout this year.
Page 2
Jigsaw Pre School

Report of the Trustees for the Year Ended 31 August 2020

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities for the year is set out on page 6 of the financial statements.
There was a net surplus for the year of £26,864  2019 (deficit £(6,439)).
Total funds now stand at £22,341 (2019 £(4,523)).

Investment policy and objectives

The Charity'sconstitutiondoes not conveyinvestmentpowers;all surplusfundsare held in one or more bank deposit
accounts.

Reserves policy

The charityhasno formalreservespolicyas it receivesmostof itsfundingfromEarlyYearsgrantfundingand session
fees,howevertocoveranytemporaryshortfallincashflowthatmayoccurduetotimingofreceipts,a moderate
balanceis retainedon bankdeposit.Unrestrictednet currentsurplusat the balancesheetdateamountedto £22,341
(2019 deficit £(4,523)).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charityis registeredwith the CharityCommission(no. 1031071)and until 14th November 2016 was governed by  a
constitutionadopted9th October1985as amendedon 20thDecember1993.At the AnnualGeneralMeetingon  14th
November2016themembersratifiedtheadoptionofanewconstitutionbasedonthe2008model constitution
produced by the Pre-School Learning Alliance. The group is a member of the Pre-School Learning Alliance.
TheoverallmanagementandcontrolofthePre-schoolrestswiththeindividualmembersofthe Pre-school's
management committee. Committee members are also the charity trustees of the Pre-school.
The Committee meets a minimum of twice a year and requires the presence of at least half of its members including at
least two officersto form a quorum.All businessis decidedby a simple majority,each committeemember having one
vote. In the event of a tie, the Chair has the casting vote.

Recruitment and appointment of new trustees

TheCommittee(trustees)iselectedfromthecharity'smembershipateachAnnualGeneralMeetingandservesfor a
term of one year. Committee members may be re-elected for up to maximum of ten years. The Committee comprises a
minimumof5andamaximumof12membersandmustincludetheofficesofChair,TreasurerandSecretary. In
additiontheCommitteemayco-optupto3furthermemberswhostanduntilthenextAGM.Nomemberispaid for
their work as Committee member/trustee of the Charity.
There are currently 9 Committee members (trustees).

Voluntary staff

Thecharitybenefitsfromtheservicesprovidedbyvolunteers.Voluntaryhelpisnotvaluedforthepurposesof the
financial statements.

Risk management

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
Thetrusteeshaveinplacepoliciesaddressingthemainoperationalriskareasincludinghealthandsafety and
safeguardingandtheyaim to use best practicein theseareas.An appropriatelevel of insuranceis maintainedto help
mitigate the main financial  risks.
Page 3
Jigsaw Pre School

Report of the Trustees for the Year Ended 31 August 2020

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1031071
Principal address
Church Lane
Sproughton
Ipswich
Suffolk
IP8 3BB
Trustees
M Poole Chairman
Ms S Parker
Mrs L Phililips Secretary
Mrs R Laflin
Ms L Cook
Mrs L Largent Co-opted onto Committee
Mrs C Boulton Co-opted onto Committee
P Cramner Treasurer
E Cook
Independent Examiner
J. Knights ACA, BSc
Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

ThetrusteesareresponsibleforpreparingtheAnnualReportandthefinancialstatementsinaccordance with
applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice)
includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland"
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionof thecharityandtoenablethemtoensurethatthefinancialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They are
also responsible for safeguardingthe assets of the charity and hence for taking reasonablesteps for the prevention and
detection of fraud and other irregularities.
Page 4
Jigsaw Pre School

Report of the Trustees for the Year Ended 31 August 2020

Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
M Poole - Trustee
Page 5

Independent Examiner's Report to the Trustees of Jigsaw Pre School

Independent examiner's report to the trustees of Jigsaw Pre School

I reportto the charitytrusteeson my examinationof the accountsof Jigsaw Pre School(theTrust)for the year ended
31 August 2020.

Responsibilities and basis of report

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportinrespectof myexaminationof theTrust'saccountscarriedoutundersection145of theActandin carrying
out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionundersection 145(5)(b)
of the Act.

Independent examiner's statement

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J. Knights ACA, BSc
Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Date: .............................................
Page 6
Jigsaw Pre School

Statement of Financial Activities

for the Year Ended 31 August 2020

2020
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
3,177
Charitable activities
3
Operation of pre-school
138,555
Total
141,732
EXPENDITURE ON
Charitable activities
4
Operation of pre-school
116,997
NET INCOME/(EXPENDITURE)
24,735
RECONCILIATION OF FUNDS
Total funds brought forward
(4,523)
TOTAL FUNDS CARRIED FORWARD
20,212
2019
Total
funds
£
-
99,290
99,290
106,903
(7,613)
3,090
(4,523)
The notes form part of these financial statements
Page 7
Jigsaw Pre School

Balance Sheet

31 August 2020

2020
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
2,759
CURRENT ASSETS
Debtors
10
1,424
Cash at bank
50,694
52,118
CREDITORS
Amounts falling due within one year
11
(34,665)
NET CURRENT ASSETS/(LIABILITIES)
17,453
TOTAL ASSETS LESS CURRENT LIABILITIES
20,212
NET ASSETS/(LIABILITIES)
20,212
FUNDS
12
Unrestricted funds
20,212
TOTAL FUNDS
20,212
2019
Total
funds
£
1,436
356
23,008
23,364
(29,323)
(5,959)
(4,523)
(4,523)
(4,523)
(4,523)
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
M Poole - Trustee
.............................................
P Cramner - Trustee
The notes form part of these financial statements
Page 8
Jigsaw Pre School

Notes to the Financial Statements for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Charities Act 2011. The financial statements have been prepared under the historical cost convention.
ThecharityhasappliedUpdateBulletin1aspublishedon2February2016anddoesnotincludeacash flow
statement on the grounds that it is applying FRS 102 Section 1A.
The financialstatementshave been prepared to give a 'true and fair' view and have departed from the  Charities
(AccountsandReports)Regulations2008onlytotheextentrequiredtoprovidea'trueandfair'view. This
departurehasinvolvedfollowingtheAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicableintheUKandRepublicofIreland(FRS102)issuedon16July2014ratherthantheAccounting and
ReportingbyCharities:Statementof RecommendedPracticeeffectivefrom1 April2005whichhassince been
withdrawn.
The financial statements are presented in sterling which is the functional currency of the charity.
The accounts are rounded to the nearest pound.
Thesignificantaccountingpoliciesappliedinthepreparationofthesefinancialstatementsaresetout below.
These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The deficitpositionhas been causedby takingon the additionalsettingin 2016.When this decisionwas  made
theTrusteesunderstoodthatitwouldtakeatleast5yearsforthefundingandcoststosettledown. Having
reviewed the cashflowforecaststhe Trusteesare of the opinionthat,despitethe deficitposition,no  significant
materialuncertaintiesexistregardingthecharity'sabilitytocontinueasagoingconcernforthe foreseeable
future.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantageof the following disclosure exemptions in preparing these financial statements,
as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
Local authority funding grants are accounted for in the financial period to which the grants relate.
continued...
Page 9
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES - continued

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

Tangible fixed assets

Depreciationis providedat the followingannualratesin order to write off each assetover its estimated useful
life.
Fixtures and fittings- 4 years straight line
Computer equipment- 3 years straight line

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are unrestricted funds which have been designated for specific purposes by the trustees.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Lease commitments

Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis
over the period of the lease.

Pension costs and other post-retirement benefits

Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the  Statement of Financial Activities in the period to which they relate.

Financial instruments

Financialassetsandfinancialliabilitiesarerecognisedwiththecharitybecomespartytothe contractual
provisionsoftheinstrument.Allfinancialassetsandliabilitiesareinitiallymeasuredattransaction price
(including transaction costs).
The charityonlyhas financialassetsand financialliabilitiesof a kindthatqualifyas basicfinancial instruments.
Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredat their
settlement value.
continued...
Page 10
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

2.
DONATIONS AND LEGACIES
Donations
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Pre-school fees
Operation of pre-school
Grants
Operation of pre-school
Grants received, included in the above, are as follows:
Suffolk County Council
Coronavirus Job Retention Scheme
Creeting St Mary Pre-School
4.
CHARITABLE ACTIVITIES COSTS
Operation of pre-school
5.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable for the independent examination
Other fees payable to the independent examiner
Direct
Costs
£
97,895
2020
£
3,177
2020
£
31,824
106,731
138,555
2020
£
99,336
7,395
-
106,731
Support
costs
£
19,102
2019
£
-
2019
£
32,473
66,817
99,290
2019
£
65,456
-
1,361
66,817
Totals
£
116,997
2020 2019
£ £
1,903 1,908
2,129 1,174
4,032 3,082
continued...
Page 11
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

6. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2020norforthe year
ended 31 August 2019.

Trustees' expenses

No trustee received reimbursement for expenses incurred in their role as trustee and Committee member.

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

8.

Operation of the Pre-school
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Charitable activities
Operation of pre-school
EXPENDITURE ON
Charitable activities
Operation of pre-school
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
2020
2019
12
10
Unrestricted
fund
£
99,290
106,903
(7,613)
3,090
(4,523)
continued...
Page 12
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

9. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 September 2019
2,555
1,379
Additions
2,613
-
At 31 August 2020
5,168
1,379
DEPRECIATION
At 1 September 2019
1,344
1,154
Charge for year
1,161
129
At 31 August 2020
2,505
1,283
NET BOOK VALUE
At 31 August 2020
2,663
96
At 31 August 2019
1,211
225
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Trade debtors
1,424
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Trade creditors
374
Taxation and social security
8,247
Other creditors
26,044
34,665
Totals
£
3,934
2,613
6,547
2,498
1,290
3,788
2,759
1,436
2019
£
356
2019
£
2,881
4,862
21,580
Totals
£
3,934
2,613
6,547
2,498
1,290
3,788
2,759
1,436
2019
£
356
29,323

Deferred income

Othercreditorsincludesincomereceivedforfutureperiodsandisdeferredwheretheconditionsattached to
the income have not yet been met
1 September
2019
Deferred
this year
Released this
year
31 August
2020
£ £ £ £
Local authority grants 15,909 21,138 (15,909) 21,138
continued...
Page 13
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

12. MOVEMENT IN FUNDS

At 1.9.19
£
Unrestricted funds
General fund
(4,523)
TOTAL FUNDS
(4,523)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
141,732
TOTAL FUNDS
141,732
Comparatives for movement in funds
At 1.9.18
£
Unrestricted funds
General fund
3,090
TOTAL FUNDS
3,090
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
99,290
TOTAL FUNDS
99,290
Net
movement
At
in funds
31.8.20
£
£
24,735
20,212
24,735
20,212
Resources
Movement
expended
in funds
£
£
(116,997)
24,735
(116,997)
24,735
Net
movement
At
in funds
31.8.19
£
£
(7,613)
(4,523)
(7,613)
(4,523)
Resources
Movement
expended
in funds
£
£
(106,903)
(7,613)
(106,903)
(7,613)
continued...
Page 14
Jigsaw Pre School

Notes to the Financial Statements - continued

for the Year Ended 31 August 2020

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:
Net
movement At
At 1.9.18 in funds 31.8.20
£ £ £
Unrestricted funds
General fund 3,090 17,122 20,212
TOTAL FUNDS 3,090 17,122 20,212
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Incoming
resources
£
241,022
241,022
Resources
Movement
expended
in funds
£
£
(223,900)
17,122
(223,900)
17,122

13. EMPLOYEE BENEFIT OBLIGATIONS

The charityoperatesa definedbenefitpensionscheme.Contributionspaid and recognisedin the Statement of
FinancialActivitiestotalled£1,047(2019:£768).Therewasaliabilityof£320(2019:£267)outstandingat the
year end.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2020.
Page 15
Jigsaw Pre School

Detailed Statement of Financial Activities

for the Year Ended 31 August 2020

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Charitable activities
Pre-school fees
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Hire of plant and machinery
Equipment
Children's entertaining
Catering and refreshments
School trips
Staff training and courses
Support costs
Management
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Website & computer costs
Repairs and maintenance
Sundry expenses
Finance
Bank charges
Interest payable on overdue tax
2020
£
3,177
31,824
106,731
138,555
141,732
89,374
348
1,048
1,664
1,754
-
3,053
400
254
97,895
4,936
1,531
326
1,976
1,073
180
276
1,432
1,298
13,028
211
63
274
2019
£
-
32,473
66,817
99,290
99,290
76,008
19
768
1,560
1,882
223
2,407
-
119
82,986
6,431
1,687
1,039
2,333
1,165
-
361
1,616
1,576
16,208
216
-
216
This page does not form part of the statutory financial statements
Page 16
Jigsaw Pre School
Finance
Other
Fixtures and fittings
Computer equipment
Governance costs
Independent examination
Payroll and CJRS claims
Registration and licence fees
Legal and professional fees
Total resources expended
Net income/(expenditure)
Detailed Statement of Financial Activities
for the Year Ended 31 August 2020
2020
£
1,161
129
1,290
1,903
2,129
410
68
4,510
116,997
24,735
2019
£
486
211
697
1,908
1,174
395
3,319
6,796
106,903
(7,613)
This page does not form part of the statutory financial statements
Page 17