COMPANY REGISTRATION NUMBER: 02884984 CHARITY REGISTRATION NUMBER: 1034495
B.W.S.C.A. Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2023
B.W.S.C.A. Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
| Notes to the detailed statement of financial activities | 16 |
B.W.S.C.A. Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details Registered charity name B.W.S.C.A. Limited Charity registration number 1034495 Company registration number 02884984 Principal and registered office Brian Whitehead Sports Centre Wick Lane Downtown Salisbury Wiltshire SP5 3NF The trustees S J Bromilow A H Glynn K H Sutcliffe C P Smith
Independent examiner Shirley Hollis FCCA Hugh Davies & Co 35 Chequers Court Brown Street Salisbury SP1 2AS
Structure, governance and management
B W S C A Ltd is a charitable company, limited by guarantee, incorporated on 6 January 1994 with registration number 02884984. The company was registered as a charity on 11th of March 1994, for under registration number 1034495.
The company was established under the Memorandum of Association which established the objectives and powers of the charitable company and is governed under its articles of association. The appointment and retirement of its Directors (Trustees) and the admission and classification of membership of the company is bespoke prescribed in the articles, copies of which are available for inspection at the Registered Office.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Objectives and activities
The principal activity of the charity is the provision of facilities for recreational or other leisure time occupation in Downton, Wiltshire and surrounding areas.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Throughout the majority of the year under review, the leisure centre owned by the charity was run on its behalf by Gymies Ltd. Primary activities occurring during the year were the receipt of grants and donations and the payment of a management fee to Gymies Ltd. Remaining reserves are still in accordance with the reserves policy. All of these transactions are detailed in the accounts, and the charity did not carry on any other activities during the year.
Financial review
Net income for the year was £2,368 (2022 -£(5,313)) and this has been included in general reserves which total £136,493 (2022 - £134,125). The trustees have general investment powers, and consider that these funds are appropriately held and adequate in amount to support the ongoing work of B W S C A Ltd.
Reserves
In determining the reserves policy of the charity, the Trustees have considered the level of operating expenses required. It is the Trustees intention to maintain the reserve equivalent to approximately 12 months running expenses. At the end of the year the unrestricted reserves balances stood at £136,493 (2022 - £134,125).
The trustees' annual report and the strategic report were approved on 4 August 2023 and signed on behalf of the board of trustees by:
S J Bromilow Trustee
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B.W.S.C.A. Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of B.W.S.C.A. Limited
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of B.W.S.C.A. Limited (the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act: or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination: or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Shirley Hollis FCCA Independent Examiner
35 Chequers Court Brown Street Salisbury Wiltshire SP1 2AS
Date: 4 August 2023
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B.W.S.C.A. Limited Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | Unrestricted | Total | Total | |
| Funds | Funds | Funds | ||
| £ | £ | £ | ||
| Income and endowments | ||||
| Donations and legacies | 5 | - | - | 18,072 |
| Grants receivable | 6 | 41,000 | 41,000 | 52,950 |
| Rental income | 19,736 | 19,736 | 13,039 | |
| Investment income | 7 | 590 | 590 | 16 |
| Total income | 61,326 | 61,326 | 84,077 | |
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 58,958 | 58,958 | 89,390 |
| Total expenditure | 58,958 | 58,958 | 89,390 | |
| Net income and net movement in funds | 2,368 | 2,368 | (5,313) | |
| Reconciliation of funds | ||||
| Total funds brought forward | 134,125 | 134,125 | 139,438 | |
| Total funds carried forward | 136,493 | 136,493 | 134,125 |
The statement of financial activities includes all gains and losses recognised in the year
All income and expenditure derive from continuing activities.
The notes on pages 6 to 13 form part of these financial statements.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Fixed assets | Note | £ | £ |
| Tangible fixed assets | 14 | 50,450 | 52,742 |
| Current assets | |||
| Debtors | 15 | 8,511 | 4,628 |
| Cash at bank and in hand | 81,396 | 80,033 | |
| 89,907 | 84,661 | ||
| Creditors: amounts falling due within one year | 16 | 3,864 | 3,278 |
| Net current assets | 86,043 | 81,383 | |
| Total assets less current liabilities | 136,493 | 134,125 | |
| Net assets | 136,493 | 134,125 | |
| Funds of the charity | |||
| Unrestricted funds | 136,493 | 134,125 | |
| Total charity funds | 18 | 136,493 | 134,125 |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 August 2023 and are signed on behalf of the board by:
S J Bromilow - Trustee
The notes on pages 6 to 13 form part of these financial statements.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Brian Whitehead Sports Centre, Wick Lane, Downtown, Salisbury, Wiltshire, SP5 3NF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
- Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
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legacy income is recognised when receipt is probable, and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property 2% straight line Plant and machinery 20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Every member promises, if the charity is dissolve while he, she or it remains a member or within twelve months afterwards, to pay up to £l .00 towards the costs of dissolution and the liabilities incurred by the Charity while the contributor was a member.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | - | - | 18,072 | 18,072 |
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
| 6. | Grants receivable | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total | ||
| Funds | 2023 | Funds | Funds 2022 | ||
| £ | £ | £ | £ | ||
| Grants receivable | 41,000 | 41,000 | 52,950 | 52,950 | |
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total | ||
| Funds | 2023 | Funds | Funds 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 590 | 590 | 16 | 16 | |
| 8. | Expenditure on charitable | activities by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total | ||
| Funds | 2023 | Funds | Funds 2022 | ||
| £ | £ | £ | £ | ||
| Sports Club | 57,550 | 57,550 | 87,778 | 87,778 | |
| Support costs | 1,408 | 1,408 | 1,612 | 1,612 | |
| 58,958 | 58,958 | 89,390 | 89,390 | ||
| 9. | Expenditure on charitable | activities by activity type | |||
| Activities | Support | Total Funds | Total | ||
| undertaken | costs | 2023 | Funds 2022 | ||
| directly | |||||
| £ | £ | £ | £ | ||
| Sports Club | 57,550 | - | 57,550 | 87,778 | |
| Governance costs | - | 1,408 | 1,408 | 1612 | |
| 57,550 | 1,408 | 58,958 | 89,390 |
10. Net income
Net income is stated after charging/(crediting):
Depreciation of tangible fixed assets
2023 2022 £ £ 3,461 3,512
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
11. Independent examination fee
| Independent examination fee | ||
|---|---|---|
| 2023 | 2022 | |
| Fees payable to the independent examiner for: | £ | £ |
| Independent examination of the financial statements | 1,408 | 1,612 |
12. Staff costs
There were no staff costs and employee benefits for the reporting period.
13 Trustee remuneration and expenses
No remuneration was paid to any of the Trustees during the year ended 31st March 2023 (2022 £Nil).
No expenses were reimbursed to or paid on behalf of any Trustees during the year ended 31st March 2023 (2022 £Nil)
14. Tangible fixed assets
| Leasehold | Plant and | Total | |
|---|---|---|---|
| property | machinery | ||
| £ | £ | £ | |
| Cost | |||
| At 1 April 2022 | 92,420 | 21,889 | 114,309 |
| Additions | - | 1,169 | 1,169 |
| Disposals | - | - | - |
| At 31 March 2023 | 92,420 | 23,058 | 115,478 |
| Depreciation | |||
| At 1 April 2022 | 46,797 | 14,770 | 61,567 |
| Charge for the year | 1,848 | 1,613 | 3,461 |
| At 31 March 2023 | 48,645 | 16,383 | 65,028 |
| Carrying amount | |||
| At 31 March 2023 | 43,775 | 6,675 | 50,450 |
| At 31 March 2022 | 45,623 | 7,119 | 52,742 |
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
15. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 4,876 | - |
| Prepayments and accrued income | 1,960 | 2,221 |
| Other debtors | 1,675 | 2,407 |
| 8,511 | 4,628 | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade creditors | - | 217 |
| Accruals and deferred income | 3,636 | 3,060 |
| Social security and other taxes | 228 | - |
| 3,864 | 3,277 |
16.Creditors: amounts falling due within one year
17. Deferred income
| Deferred income | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Amount deferred in year | 1,911 | 1,694 |
- Analysis of charitable funds Unrestricted funds
| nrestricted funds | ||||
|---|---|---|---|---|
| At 1 April | Income | Expenditure | At 31 | |
| 2022 | March 2023 | |||
| £ | £ | £ | £ | |
| General funds | 134,125 | 61,326 | (58,958) | 136,493 |
| At 1 April | Income | Expenditure | At 31 | |
| 2021 | March 2022 | |||
| £ | £ | £ | £ | |
| General funds | 139,438 | 84,077 | (89,390) | 134,125 |
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
19. Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Total | |
| Funds | Funds | |
| 2023 | ||
| £ | £ | |
| Tangible fixed assets | 50,450 | 50,450 |
| Current assets | 89,907 | 89,907 |
| Creditors less than 1 year | (3,864) | (3,864) |
| 136,493 | 136,493 | |
| Unrestricted | Total | |
| Funds | Funds | |
| 2022 | ||
| £ | £ | |
| Tangible fixed assets | 52,742 | 52,742 |
| Current assets | 84,661 | 84,661 |
| Creditors less than 1 year | (3,278) | (3,278) |
| 134,125 | 134,125 |
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B.W.S.C.A. Limited
Company Limited by Guarantee
Management Information Year ended 31 March 2023
The following pages do not form part of the financial statements.
14
B.W.S.C.A. Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income | ||
| Donations and legacies | - | 18,072 |
| Grants receivable | 41,000 | 52,950 |
| Rents receivable | 19,736 | 13,039 |
| Bank interest receivable | 590 | 16 |
| Total income | 61,326 | 84,077 |
| Expenditure | ||
| Rent | - | - |
| Rates and water | 806 | 412 |
| Light and heat | - | - |
| Repairs and maintenance | 11,529 | 41,853 |
| Insurance | 8,101 | 5,697 |
| Legal and professional fees | 13 | 1,750 |
| Management fee costs | 30,000 | 30,000 |
| Accountancy | 1,408 | 1,612 |
| Other office costs | 3,290 | 4,052 |
| Bank charges | - | 595 |
| Depreciation | 3,461 | 3,512 |
| Car park hire | 350 | - |
| Bad debts | - | (93) |
| Total expenditure | 58,958 | 89,390 |
| Net income | 2,368 | (5,313) |
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B.W.S.C.A. Limited
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Sports club activities undertaken directly | ||
| Rent | - | - |
| Rates and water | 806 | 412 |
| Light and heat | - | - |
| Repairs and maintenance | 11,529 | 41,853 |
| Insurance | 8,101 | 5,697 |
| Legal and professional fees | 13 | 1,750 |
| Management fee costs | 30,000 | 30,000 |
| Other office costs | 3,290 | 4,052 |
| Bank charges | - | 595 |
| Depreciation | 3,461 | 3,512 |
| Car park hire | 350 | - |
| Bad debts | - | (93) |
| 57,550 | 87,778 | |
| Governance costs | ||
| Accountancy fees | 1,408 | 1,612 |
| Expenditure on charitable activities | 58,958 | 89,390 |
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