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2024-03-31-accounts

ALL HALLOWS FARNHAM CHARITABLE TRUST (LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 Registered Company No: 02925196 Registered Charity No: 1041017

ALL HALLOWS FARNHAM CHARITABLE TRUST FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 Page Contsnts Report of the Trustees Report of the Auditors Statement of Financial Activltles Balanc8 Sheet statement of Accounting Policies 9-10 Notes to the Financial Statements

ALL HALLOWS FARNHAM CHARITABLE TRUST

REPORT OF THE TRUSTEES

The Trustees present their report and audited financial statements for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES C I Anderson M A Baines P J Jukes J V Madden (resigned 28 November 2023) T J S McGinn D Spare SECRETARY C S Antrobus REGISTERED OFFICE All Hallows Catholic School Weybourne Road Farnham Surrey GU9 9HF REGISTERED COMPANY NUMBER 2925196 REGISTERED CHARITY NUMBER 1041017 AUDITOR HaysMac LLP Chartered Accountants 10 Queen Street Place London EC4R 1AG BANKERS HSBC Bank Plc 74 High Street Alton Hampshire GU34 1EZ INVESTMENT MANAGERS Fundsmith 33 Cavendish Square London W1G 0PW

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ALL HALLOWS FARNHAM CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) The flnanclal statements have b88n prepared In accordance with the Companl8s Act 2006. the Charttles Act 2011 and reporting by charities- Statement of Recommended Practice appllcable to charities preparlng thelr financial statements In accordance wlth the Financial Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS102) (second edition effectlve, 1 January 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT Constltutlon The company vms incorporated on 3 May 1994 as a company Ilmlt8d by guarantee and is a registered charity. Th8 number of Irust88s is never less than thr88. The trustees may apFK)int new trustees as requlred and the secretary to the Trust Is appoint8d by the trustees. in accordance wlth the Memorandum & Arlicles of Assoclatlon. Truste The Trustees of the company. who are also the charity trustees, who served durfng the year and up to the date of this report are as follows:_ C l Anderson M A Baines D Spare P J Jukes J V Madden (reslgn8d 28 November 2023) T J S McGlnn Secretary C S Antrobus Rlsk As$essmont Due to the nature of its activities the specific impact on th8 company lias solely on the economy's impact on the managed investment fund as set out in note 3. The Twstees have assessed the major risks to which the Trust is exposed, in particular those related to its operations and finances, and are satisf18d that there ar8 contro15 in place lo mitigate exposure to such risks. Recrullment, Inductlon and tralnlng of trustses Existing trustees Identlfy new trustees and one to one inductlon takes place wlth the Chalr. Selectfve readlng material is provided to all trustees. OBJECTIVES AND ACTIVITIES The objectives of the Trust ar8 the advancement of Roman Catholic religion and education and the provision of education and educational faciliti8S to All Hallows Catholic School in Famham, Surr8y (th8 School). Th8 principal activity throughout th8 year was managing the Trust's assets, leasing th8 Sixth Forni Centre to All Hallows Catholic School and continuing to raise funds for the beneflt of the School. Publlc Benofft The trustees have given due conslderatlon to the Charity Commission's guidance on public benefit when consldering the activitles the charty undertak8s. The provision of educatlonal facllltles at All Hallows Cathollc School Is of ben8fft to the local (x)mmunlty. The Sports Hall is hired out to clubs In the evenlngs and at weekends. ACHIEVEMENTS AND PERFORMANCE The r8nts received from the School, tog8ther with donations from parents of students at the School, cov8red the cost of bank loan repayments. It was also possible to make donations to th8 School towards the cost of capital improvements and equipment.

ALL HALLOWS FARNHAM CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) FINANCIAL REVIEW A summary of the results for the year is gtven on Page 7 of the financial statements. The Trustees consider the state of affairs to be satisfactory. Treasury management and investment policy Investing the charitsble funds first took place in 2018119. There are no restrictions on the Charity's power to invest The Charity's investments are managed day-to-day by Fundsmith, a third-party fund manager, which the Twstees meet with periodically to review perfonnance. income requirements and market trends. Reserves Policy The charity has free reserves. namely unrestricted funds not represented by fixed assets of £1.225.517 (2023: £1.121.015) at the year end. Its accumulated surpluses are being applied towards providing grants and for future capital projects to benefit All Hallows Catholic School. The Trustees find the current level of reserves to be satisfactory. FUTURE PLANS The Trust will make available to curriculum departments of the School matched-funding grants to enhance the provision of education and support the aims and objectives of the School. The Trust will work to save fijnds with the aim of contrtbuting towards a new English Library and Media Centre in the next few years. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the directors) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resour￿$ and application of resources, including the income and expenditure, of the charitsble company for that period. In preparing these financial ststements. the Trustees are required to., select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP., make judgements and estimates that are reasonable and prudent. state whether applicable accounting stsndards have been followed. subject to any material departures disclosed and explained in the financial statements., and prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularib'es. So far as each of the Trustees is aware at the time the report is approved: there is no relevant audit infonrjation of which the companls auditors are unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant aud infomation and to establish that the auditors are aware of that information. This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 5 December 2024 and signed on its behalf by M A Baines Trustee

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALL HALLOWS FARNHAM CHARITABLE TRUST OPINION We have audit8d the financial stst8m8nts of All Hallows Famham Charitable Trust for th8 year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in thelr pr8paration is applicab18 law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicab18 in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting PractiC8). In our opinion, the flnancial statements.. giv8 a true and fair view of th8 State of the charitable company's affairs as at ended 31 March 2024 and of the charitable company's net movement in funds, including th8 income and expenditure, for the year then 8nd8d' have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared In accordanc8 With the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISA5 (UK)) and appllcable law. Our responsibiltties und8r those standard5 are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Gharity in accordance with the 8thical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilit18s in accordance with these ￿quIrements. We believe that the audit evidence w8 have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditlng the financial stat8ments, we have concluded that the trustees. use of th8 going concem basis of accounting in the preparation of the financial ststements is appropriate. Based on the work w8 have Perfomied. we have not identif18d any mat8rial unc8rtaintl8s relating to 8V8nts or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financlal ststements are authorised for issue. Our responsibilities and th8 r8sponsibilities of the trustees with respect to going concern are described in the relevant sedions of this report. OTHER INFORMATION The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees. Our opinion on the financial statements does not cover the other infonnation and, ex￿pt to the extent othep4vise explicitly stated in our report. we do not express any form of assurance conclusion th8r80n. In connection wlth our audit of th8 financial statement5, our re5ponslblllty Is to read the other InfOnna￿On and, in dolng so. consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misststement in the financial ststements or a material misstatement of the other infomiation. If. based on th8 work w8 have perfomied, we conclude that there is a material misstatement of this other information, w8 are required to report that fact. We have nothing to r8POrt in this regard. OPINIONS ON OTHER MAThERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Report of th8 Trust8es (which includes the Directorfs report prepared for the purposes of company law) for the financial y8ar for which the financial statements are prepared is consistent with the financial statements. and the Dir8Ctors' r8POrt included withln the Report of the Trustees has been prepared in accordance wlth applicable legal requirements.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALL HALLOWS FARNHAM CHARITABLE TRUST MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and its environment obtsined in the course of the audit. we have not identlfied material misstatements in the Report of the Trustees (which incorporates the Directorfs report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf. in our opinion: adequate accounting records have not been kept by the charitable company," or the charitable company financial statements are not in agreement with the accounting records and returns,. or rtain disclosures of Trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit- or the trustees were not entitled to prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies. exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS As explained more fully in the trustees, responsibilities statement set out on page 3. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they gtve a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitsble company's ability to conkn'nue as a going concern. disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic altemative but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives a￿ to obtain reasonable assurance about whether the financial ststements as a whole are free from material misststement. whether due to fraud or error, and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assuran￿. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of iffegularities, including fraud. The extent to which our procedures are capable of detecting l￿egUlarlties, including fraud is detailed below: Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Companies Act 2006 and Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial sL8tements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as sales tsx.

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

ALL HALLOWS FARNHAM CHARITABLE TRUST

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

…………………………………………………………………….

Lee Stokes, Senior Statutory Auditor For and on behalf of HaysMac LLP, Statutory Auditor

10 Queen Street Place London EC4R 1AG

9 December 2024

Date: …………………………………………………

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ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024 Totsl Unrestrlcted Funds 2024 Total Unrestrlcted Funds 2023 INCOME AND EXPENDITURE Notes Income from: Donations 93,549 98.389 Other trading activities: Rental income 99,000 99,000 T¢)tal Income 192.549 197.389 Expendfture on". Charitable activtties 288.064 55,643 Total expendlture 288.064 55.643 Net incomel(expenditure) before gains on investments {95,515) 141,746 Unrealtsed gains on investments 152,733 23,102 Net movement in funds 57,218 164.848 Balances brought forward at 1 April 2023 1,666,424 1,501.576 Balances carried forward at 31 Marth 2024 1,723,642 1,666,424 All activities are continuing. The a￿MpanyIng notes form part of these financial statements.

ALL HALLOWS FARNHAM CHARITABLE TRUST Company Number: 02925196 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible fixed assets Investm8nts 498,125 1.166.547 545,409 938.814 1.684.672 1.484.223 CURRENT ASSETS Debtors Cash at bank and in hand 38.913 30.557 29,924 162.732 69.470 192.656 CREDITORS: Amounts falling due within one y8ar (10.500) (10.455) NEf CURRENT ASSErs 58.970 182,201 NEf ASSETS 1.723.642 1,666,424 UNRESTRICTED FUNDS General Reserve 1,723,642 1,666,424 Approved by the Board of Trustees and authorised for issue on 5 December 2024 and were slgned below on Its behalf by: M A Baines Trust88 The accompanylng notes fomi part of th8S8 flnanclal stat8m8nts.

ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 a) Basis of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition. effective 1 January 2019 - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise stated in the relevant accounting policy note(s). There were no critical areas of judgment or estimation used in preparing the financial statements. b) Going concern The trustees consider there are no material uncertainties about the chartty's abilty to continue as a going concern. The review of our financial position and reserves levels. particularly including the investment portfolio, and future plans gives trustees confidence the charity remains a going concem for the foreseeable future. c) Income Al income is included in the statement of financial activities when the charity is entitled to the income, it is probable that income will be received and the amount can be quantified with reasonable accuracy. Income received for the year is wholly attributable to the continuing activities of the company and it is eamed entirely within the United Kingdom. d) Expenditure The irrecoverable element of VAT is included with the item of expense to which it relates. Charitable aotivitses relates to costs incurred in deltvering the charitls activities and services to its beneficiaries. Govemance costs are costs incurred in meeting the constttutional and statutory requirements of the Char￿Y. e) Cash Flow Statement The company has tsken advantsge of the exemptions provided by SORP (FRS 102) and has not prepared a cash fiow statement for the year. Tangible fixed assets Tangible f￿ed assets are stated at cost. Depreciation is provided to write off the cost of fixed assets over their estimated useful lives as follows: Long Leasehold Propety Fumiture and Fittings Life of the Lease 20% per annum g) Investments Investments are a fomi of basic financial instrument and are initially shown in the accounts at market value. When shares are disposed. any realised gains or losses on the disposal of shares is recognised in the Statement of Financial Activities. Movements in the market values of investments are shown as unrealised gains and losses in the Statement of Financial Activities. Realised gains and losses on investments are calculated as the drfference be￿een sales proceeds and their opening carrying values or their purchase value ff acquired subsequent to the first day of the financial year. Unrealised gains and losses a￿ calculated as the dIffe￿nCe be￿een the fair value at the end of the year and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF ACCOUNTING POLICIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 h) Debtors Trade and other debtors are recognised at the settlem8nt amount du8 after any trade dlstxiunt off8r8d. Prepaym8nts are valued at the amount prepaid net of any trad8 discounts due. i) Cash at bank and In hand Cash at bank and cash in hand includes cash and amourrts held in liquld bank accounts. J) Credltor8 and provlslon8 Creditors and provlslons are recognlsed where the Gharity has a present obllgatlon resultlng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obllgatlon can be measured or estimated reliably. Credltors and provisions are normally recognised at thelr settlement amount after allowing for any trade discounts due k) Flnanclal Instruments Basic financial instruments ar8 initialty re￿nised at transaction value and subs8qU8ntty m8asured at amortlS8d cost with the ex¢eptlon of investments which are held at market value. Financial ass8ts held amorti58d rx>st comprfse cash at bank and in hand. together with trade and other debtors. A specific provision is made for debts for which recoverabillty is In doubt. Cash at bank and in hand Is defined as all cash held in Instant access bank accounts and used as v￿rkIng capltal. Flnanclal Ilabllitles held at amortised cost ￿mprise all credltors ex￿pt aoLtu8ls and provlslons. l) Taxatlon The company Is a register8d charity and no tax is payable on its charitsble income and surpluses re-applied to tts charitable purposes. 10

ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 EXPENDrruRE Other Costs Total 2024 Depreclatlon Cha17table activities." Costs of operations Interest payable on bank loan Governance costs Grant to All Hallows Catholic School 47,284 1,812 49.096 6.251 232.717 6,251 232,717 47.284 240,780 288.064 Other Costs Total 2023 Compardtlve perfod Depreclatlon Chantable act￿les." Costs of operations Interest payable on bank loan Govemance costs 47.284 1,380 100 6.879 48.664 100 6,879 47,284 8.359 55.643 The governan￿ costs of the charity indude only the auditorfs remuneration costs recognised in the year of £6,251 (2023: £6,879) which takes into account an £49 (2023.. £1,129) recognition timing dtfference whereby fees charged were £6.300 (2023: £5.750). No remuneration was paid to any of the Trustees in the year (2023: £Nil). No staff were employed by the charity (2023: none). FIXED ASSErs 6th Forni Centre Fumlture and flxtures Total COST At 1 April 2023 and at 31 March 2024 945,674 9,951 955,625 DEPRECIATION At 1 April 2023 Charge for the year 400,265 47.284 9.951 410.216 47.284 At 31 March 2024 447,549 9.951 457.500 NEf BOOKVALUE At 31 March 2024 498,125 498,125 At 31 March 2023 545,409 545,409 The ￿ed assets are wholly used for the CoMpan￿S charitable purpose. The leasehold properties are with All Hallows Catholic School. On the 18 July 2014 a new 20-year lease was signed for the 6th Form Centre which vrfas completed in the year to 31 March 2015 and the costs in￿1rred have been depreciated from September 2014 when the building came into use.

ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENTS 2024 2023 As at 1 Aprfl 2023 Additions Unrealised gain 938,814 75,000 152,733 827.712 88.000 23,102 As at 31 March 2024 1.166,547 938,814 The above Investment holding is held fully as equty units with a historic cost of £753,000 (2023.. £678.000). DEBTORS 2024 2023 Trade debtors other debtors Prepayments VAT receivable 9,900 18.382 763 9,888 9.900 19.310 714 38,913 29,924 CREDITORS: Amounts falling du8 Wlthin one year 2024 2023 Trade credltors Social security and other taxes Accwals 900 3,300 6,300 4,705 5,750 10.500 10,455 12

ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 SHARE CAPITAL Th8 compary is limited by guarantee and as such has no issued share capital. Each memberfs guarantee is limited to an amount of up to £1 per member. RELATED PARTY TRANSACTIONS A 20-year lease with All Hallows Catholic School for the 6th Form Centre commenced on 18 July 2014. Rent of £8,250 per month is receivable for the life of the lease. One month's rent is induded in trade debtors at 31 March 2024 (2023.. one month). A grant of £232,717 was awarded by the Trust to All Hallows Catholic School as a contribution towards capital works in the School. Trustees donated £120 (2023: £0) to the Trust in the year. 13

ALL HALLOWS FARNHAM CHARITABLE TRUST DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THEYEAR ENDED 31 MARCH 2024 FOR TRUSTEES INFORMATION ONLY 2024 2023 INCOME Donations Gift aid r8ceivable Rental income 75,187 18,362 99,000 79,073 19,316 99.000 192,549 197,389 EXPENDITURE Professional fees Loan interest Sundry Grant to Al Hallows Catholic School 6,251 6,879 100 1,380 1,812 232,717 (240,780) (8.359) OPERATING (DEFICIT)ISURPLUS FOR THE YEAR (48,231) 189,030 Depreciation (47,284) (47,284) SURPLUS FOR THE YEAR BEFORE GAINS ON INVESTMENTS (95.515) 141,746 Unrealised gains on Investments 152.733 23.102 {DEFICIT)ISURPLUS FOR THE YEAR (57.218) 164.848 This page does not fom part of the statutory financial stat8m8nts. 14