SALISBURY DIOCESAN CLERGY WIDOWS AND DEPENDANTS FUND
REPORT OF THE TRUSTEES
AND
STATEMENT OF ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
co
TENTS
Trustees, Report
Statement of Financial Activities and Balance Sheet
Notes to the Accounts
Independent Examinerfs Reporl

SAUSBUR Y DIOCESAN CLERGY WIDOWS AND DEPENDANT$ FUND
TRU8TEE8' REPORT FOR THE YEAR ENDED 31 DECEM3ER 2D24
LE()AL STATUS
The Fund 18 a r89lstor8d L'h811ty, number 1042416. Its govemlng In81ruMont 1$ • Charity ComMl88lon Scheme dotf¥J 31 Augusl
1994.
TRU¥TEE8
Th8 tru¥tÉe$ ore Ihe member$ of thg Dloce8an Clbrgy Widowg and Depondants Commlttee. who aro appolnbd by Thg Blehop's
CounclL Tho•& who 8¢rvod durfng th8 year and lo datfj ore.,
Tho Rovd P¥ter Maltt*w$ IcrTalrmar>}
MT Stuart Lalng Ichalrmanl
The Rwd Malcolm Hill
Thg Revd QrJane Culliford
Th& R*vd Robert Sanday
Mrs Mary Foskott
CanL*I John Woool
W14¢ws Offloer- Sarum
ID Fèb 2025
From N)r 2025
Idows, Officer- Dor8et
Wldow8' 0ffl48r- Shorborn
. Wldoxw, Offl¥èr- Wilts
WIdo￿, RopN40Dlsl
Irom May 2024
to Oct 2024
Th8 Salisbury DIo¢o81117 Rr)¥rd of Fln*n¢o16 ¢uslDdl#n tnJst8e of Iho Charity.
CLERK TO THE TRUSTEE8
J San¢Jall.B•ll EmmAu$ House. Tho Av¢nuo, Wilton, SP2 OFG
ADVISERS
Independent Examinpr
Mr8 N A Halls FCA, Fl8tGher & Partnera, Brldga Slreet, Sali9bury spl 2LZ
Investrn￿tt Manager.,
CCLA Investment Managemont Lttl, One Angel Lana, London, ÈC4R 3AiI
OBJECTS AND ACTIVITIES
Th6 Fund's purpu801s lo rollevg wldowts, widow$TS ¢nd dependgnls of m¢mb6r8 of the cl&¥tsy who r&8ldenl lrt the DIOC￿ of
Sal￿bUry or who wer614st ￿￿nOr1¢¢d or Ilcon$ed In the DIoGEse who are In corvjltlons of n8trd, hardbhlp OT d18tr68& The Irustoos,
polltsy is to m8ke b6reavgment grant8 ond &p8ci#l neeris grants durlng ihe yoar ss necessary. A 8m4Jll Christrnas olft w05 puld lo
11 known ihuiblo bon￿ri£larI￿ until 2013, whèn th8 poliw was ¢hangod and the¥9 granly now dlscretiornry, mgd8 on
trugfrès, ttcDmmendatson.
ACHIEVEMENTS AND PkRFORMANQE
During the year th8 Fund 9¥ve grants totalllng £9,00012023- £26,50CI).
tsnlactwlth ol the widow¥ and dependarts was m4lntalned by latter. t¢lèphtsne or ptrrsonal vSslL
Thè tru&tsg8 have compHed wlth thulr duty to have due r¥gard tp the guldance on pub5io bgnefll publlsb81I by tho Chfj￿fy
Commi$3iDn In exerdsing Ih8tr pDw6rs or duties.
Th6 In￿1&0￿ b&fievo Ih4t tho chaflty provldos a publie beneflt by provkllng mod•stflnanelal agtslBtance to dgpgndafits of
decttasod Glergywho are r8sidont in thg Dloc?se of Sallsbury,
FINANCIAL REVIEW
Invostrrent Income durlng the. y¢4r %vg¥ £3a,8$512P23 - f2V.443) whi(*¢ is the Fund8 prlnclpol $our¢¢ of In¢omg. Grants and
gifs poid, inelut*rrvd allocated support ￿&1$, ts*141￿d £10,904 {2023- £27,379). There was & Surp1￿ for Ihe yeaF of £19.98612023.
£2,090> an fir￿o￿l￿gI0￿19O1Thg ￿$bU￿&S boforè iny¢$tm¢nt galn8. Th$ valutt of Invsslm&nts ha& rlsen and ov?rall the Fund'&
re$ourGeS an)ountgd to £906,51112023- £870,430}. ofwhlch £783,6￿ 12023- £769,277) were &ndowment funds.

SAUSBURY DIOCESAN CLERGY WIDOWS AND DEPENDANTS FUMD
TRUSTEES REPORT FOR ThE YEAR ENDED 31 DE¢EMBER 2024
(rtontlftu¢d)
RE3ERVE8 PQLICY
Th& PL)Il¢y19 lo rrmlrrtaln Sts a5$0ts at th8 PTe5ent1gvel 80 ay to ￿nernte an inLxime In fvtur8 yegrs to Nupport
It8 obJertg.
IMVESTMEirr poucy
Tha Fund's 1hve3trie.nt pollcy Is sel In note 7 to the A￿0￿￿￿,
RISKS REVIEW
AG rey¥rd$ risk mat)•g¥mÈnt the truste¥B o)naider thal the FuT)¢f¥ only *niNcant Ask fs o Iotal o)Ilap6è In finandal
marf(etswhlch thoy h*etaken ÈteP3 to mltig8ts ty placlng a proportton of ihe Fund's endo￿nI in a property fund.
TRUSTEES, RE$PONSIBILITIES IN RELATION TO THE FINANCIAL 8TATEMENT8
The tru#l¥es are responslble for preparlng tha Trustees, Annual Report'and the fin?ncPal Jtatem&nts th a¢¢onJantre
with appllcable l•w and Unlted Klngdom AccxTruntlng StandardB (Unlled lfjngdom Generally Aocepted
Practlc&). The law appll¢able td d)arit]E¥ h England and Welè$ requires thp Ch8rity tnthe¥ to propar¥ finandal
statem¢nts for oach year whlch glvft a Irué and Yalr vlew ol thg slgtg of aff￿rS of the Charlty and of the incomlnq
resourc&s and ap￿Ica￿on of rnsourc66. uf fhè Charity frir tPot period. In preparfno the Itnancial Btatements, thp
Trust¥gs are rfjquir8d to..
sEleot wtt8ble a¢counUng policlws and tIEn apply Ihem w)Si¥tertly'
obseNe the method8 and pn"n(ipl8s In the C.harilles SORP;
make J￿Su￿ments and estimatè$ that r&8sonablè ond prudÈnt,'
8tEte wholmr applicablg accounlltsg Btandards havo bs8n followed, subject to ary m*orial
departuros that rnu¥l bo ditsdD¥ed and 6xplalned in financral ststoments;
pr*pare Ihfy flnanclal statements on the goln9 con￿rn basi$ unless it Is inappropriate to
piesumè th4t ths Ch•rtywlll confjnuè In busine￿.
Th$ Tru¥le88 are rospontible for ko8plng proper aCcrJun￿Th3 rwrd9 that dltsdose WIU) r¢asonable RClxl￿Y at any
time iho flnanoial po$ition of thg chan'ty And enable them to pnsure that the flnonclal 8iatenients COMPJY with the
CITarflles Act 2011, th& appllcable Ch&ritlo$ <A¢counts and R8port*) R8gu5?tiohs, unrJ thty provlslons of the Clyarlty's
8themes. They are also rèspons5ble for ¥8feguardlng the 4ssets of th? Gharlty and kklng r&a8onalJe slÈpg for the
rgvèntton ond déte¢titsn olfraud and oltt4r Irreyularities.
Sign¢d behalf of th8 Trust¢88
Mr Stuort ig
(c
irman)
Approved by the Truste•s on

SALISBURY DfocESAN CLERGY MDOWS DEPENOANI8 FUND
(Reuistsmd Charffy No. lQ424161
sTATEk￿l￿r OF FINANCIAL ACIIVITIES FOR TrIE YEAR ENDED 31 DECEMBER 2024
Uryestri&*
Fund8
Totsl
Fund
2023
Funrls
Funds
Not
INC(XIE FROM.
DoYJ4tionts and19gKle8
Invo8Lments
25
30,U65
26
29,443
29,488
TOTAL iNCL)ME
3Q,890
EXPENDITURE OPL.
Chadtsbie adivitre8
rants pay4E)le
TOYAL EXPENDITURE
10.904
10,904
10,904
27,379
10,904
NET INCOMWEXPENDITVRE BEFORE
NET GAIN$IILOSSES) ON INVESTMENTS
19,986
19.988
NotpIn￿lI055e$) on Inva8tm¢nis
638
14,599
15,096
44.876
NET MOVEMENT IN FUNDS
20.522
14,559
40.9C4
RECOMGILIATION IN FUNDS.
Total fundts broLig1il lofftrd
Tot&1 fund¥ CQTried Iowdrd
12, 14
1Ql.152
769.277
IJ70,429
11,13 £ t2167.4 £ 783,838 £ 995,511
823,465
2 87U,429
BALANCE 8HEEf AT 01 D￿EMBER 2024
Unro8triL#ed End01binefii
Fund$
FunrJ8
2024
Total
Funds
20
Total
Fund8
Nrst
FIXED p4sYr8:
Investmgnts
Llsled Ir*¢pstments- CBF Cliure,h of
England Funds
23.9T3
783,836
607,810
792,714
783.8
CURRENT ASSETS:
at bankond in hand
CBF Deposit Furtd
Cash held by Saffi&buty rJBF
94,597
4,433
9&,030
76,844
I,Q12
A8.256
Det]tvr
Ac¢rued Incomo
99,030
1.Q8
'10D,118
1,088
100,116
79,230
LIABILITIES:
cwllt0￿', amounts laifing dvo Wiln
one yeeér
< 2,414)
12,4141
{ 1,5141
NET CURRENT AS8EY5 OR LIABILITIES
TOTAL NET ASSETS OR UA8ILITIES
£ 121875 £ 788,83S £ 905,517
£ 870 42S1
THE FLINDS OF THE CHARITY:
Enclowmont fvnds
Unrestricted lund
TOTAL CIIARftY FUNDS
1c, 14, 12,13,14
783.836
783,836
121.674
£ 121,674 £.783.836 £ 905511
789,277
101,152
£ 87n,429
Ihese flrtand l $latemènts were &pprovffcl by t￿ Trni
slqned on
beh¢)If bjr.
.OlJ

SALISBURY DIOCE¥AN CLERGY WIDDWS AND DEPENDANTS FUND
NOTE8 TO THE ACCOUNTS FOR THE YEAR ENDED ai DECEMBER 2024
Acothintlng Pollcle$
The a¢tsounlE (finanuial statèrnènts) are pre,pared tsnder th? hlsttirieal cust convthlion wlth It¢mB ro¢ugnlsed &t ¢nst or
trwn¥aotlun volup un108B Othe￿180 in tt10 relevant not&9 to th6se MGcounts. The IEnL4nclal Btal8mants have been
prepared in awordano wlth the Statemtrnt of Recommended Practice.. Acaountino Reportlng by Ch8ritifjy
pr¢p&ring tholr a¢¢ounis In o¢c¢)rdartce with Ihe Fina[￿al R&portlng Standard appllG4bl¢ In the UK and Repufjlic of
Irèland (FR6 102) effe¢fjve fram 1 J4nuary 2019, the Fin4nci&l Reportlng slandard oppli¢abfe in th& Uniled Kinfjdom
and Repub15¢ of Ir¢l?nd IFRS 1W214nd tho Ghorltios Att 2Q11.
Th& Ch8rity GonJUttrtO8 4 publTC bfrnsgffl entity as defined by FRS 102.
Th8 Irus19ss wnslder that Uierg ara no mat¢rtal un¢?rtalnll¢s ¥bout the Ghariw$ ablllty to c4nthiuts as a golnu
oncorn. Th810 4ra no 6ignlfi¢ant a￿aS of Judgemenl or kèy assumptlort$ Ih4t affect In the a¢counts. With
roSP6cI to th& n&xl r&portlng p¥rfod, tho year endad 31 December 2025, Ihg rn￿t $lynificanl araas of uncèrtalnly that
affo¢t th& cojrying value tr)f assets held by the Charity aw thè 5evel ef Inveslmert return and thè parfoM8n¢e of
lThv*slmont market8.
The &Gcwnts du not Indude a cosh flow ¥tat¢mont b¥Aus¢ thè Chartty, a$ 3 small reportjng entlty. l& •xompt from the
r¢qulr*ment to prepare 81Kh a elatement.
Unre¥lrl¢ted funds ore avgllablo lor us$ at tha dIsCr￿10n of thfj Iru8t80s In furthor8n¢¥ of tho generd oblectlves ol the
charty and have nol been deslgnated for other purpose8.
Endowmènt funds we p8fffn*nant Iw$l$ whose Income 1$ Int8nd¢d for th$ benefll ol the thorlty. InrAme Irom
endowment funds h unre$lrl¢ted.
All income 16 recognlsed once th8 ch#rlty has &ntslltsmant to the Sn¢orn4, there is sufficienl certalnty uf re(xipl and $0 It
is probable th8t tho Inccm6 wlll be rec8iv8d, and the amount of Incomo Tgfgivahle can bo mftasurfjd Teliahly,
InGame from invsstmonts is InGluded in the year whiGh It is re￿￿lJbI9.
Liabilllles are r6c4)gnlaad as 8x￿ndItUr8 as soon a8 therè Is a boal or wi$tru¢llvè obllg8tton tommlttlng Ihe ttharlty to
the eXPer￿tU￿ it 1$ prob?blo Ihat ¢¢ttl¢mèfit wlll bt requlrgd and the amount or tho otllgallon ¢an be measured
rollably. All exp?ndiluro 1$ aottounted for on an accr￿$ basls.
)￿nI¥ payablo are tharggd when the offer is Gonveyed lo Ihe reripient, except in tho$$ cases where the Off￿ is
ronrfittonal, in whSch case tho grant would recognl8ed expendlture when the ¢omdltlon$ atlaohlng ara lulfjll¢d.
Th￿ expBndlture on th8titatrJle a¥ttvlde$ Inoludgs grants to Indlvidu81s, who ar¢ derw wldDWS or d¥p¥ndants, plus
8UPPQrt C98ts.
Support ¢o$t$ have b8&n dlfferèrrtlat8d between governance c08ts &nd cjlher $upport c()$ts. GQV8r.n&n￿ coBt
oniwise of all costs Involvli)g tho publio 4ts¢ountabllity pf ¢horiiy ¥rid 51$ rompllanco wlth regulall(In and good
pra¢li¢£,
Ll¥ied Inve$tn)ents #re slated al maiket value 28 at the balance sheet date. The Stalomenl DI Flnanclal Act5vltl¢3
Indudes the r)et galns and Icisses arlsing rw8Ju¥tion and dlsposgls throuuhout the year.
All, gains and Ios8Q8 ar* taken to the Stst&m¥nt ol FinanLtal Activtues as they arlso, RoFJlisgd gain6 and lo$s¥B an
Inv0$triènts èrt ¢alttulalgd as Ihg différencè batwo•n Sal￿ procgeds and opanlng market value Ipufchase date11
later}. Uwalls¢d galns and1o9£¢3 ar& calculatgd ￿ tho dlfference belw88n th8 market V8Ju8 at th8 year End aiid
opÈnlng market valu¥ lor purchase tratt If later), Roall$od and unreallgèd gains aro not $¢parat4d In Ihg Stslfymenl of
Flnandol ActfvitSe&

8ALI8BURY DIOCESAN CLERGY W41)OWS ANU DFPENDANTS FUND
NOTE$ TO THE ACCOUNTS FOR THE YEAR ENDED 31 DE¢EM8ÉR 2024
ash at bank gnd In hond In¢ludes cash on d¢￿tavaIlable on demand and cash held by Sall8LxJry Dloo88an Board
of Flhan¢8.
CreditLYS arts re¢Jgnisod wh*r¢ the ¢hartty ha$ a pr06Ent tjbllgatlon ￿uMIng from a p•st frvonl Ihii wlll probably
Yesult In the tranfjfer of funds to ? thlrd porty inc4 the amounl duo lo 8ettle the ¢Jbllgatlon can be me4bur¢d reliabty.
Credltor6 aro lloTm£lly reGognl8ed al thair sèttioment amount.
Flxed asset Itwe¥lments are a fom of baslc flnanclal Instrument and are ￿1￿011Y roco¥n14ed ai thelr ttansM¥tlgn Go8t
nd 8ubBequontly In6asured at falr valuo at the Bdlan¢e shèot dale. Inv$stmont galns and losses. whether réa118ed or
unr$alised, alp ¢ombined and 8huwn In Iba hbadlno 'Net galnslllos8e8) on Inveslmenis, In th¢ Stotèmenl of flnandal
aclivilles.
Incomo frtsm donatlon$ Ind l¢y¥¢l¢*
2024
Donation$
25
25
25
Atl Incom& from dunalioNs in both yearg w&9 unreslrlthd.
In¢ome from
Dmdénds
Intsrest on ¢&sh d6p08
28,611
4,254
26,205
3,288
1 29,443
All incomo from Ihv¢sknenl$ In both yo*8 was unrestrict¢d
o¥ts f)f oharitsb10 acti￿11
INDte 51
Grènls to 1nd1vldu￿S
Bereavement grants 4 12023: 13 want&1
Cllristmas gr#nts O [2023., 31
9,000
10,gQ4
25,78
1,611
9,OIX) £ 1,904 £ 10.9L14
£ 27,379
Support ct)sts are allocated betwèen gtsnt typ&ts bated on the vduo of e8th grant typo award&d in Ihe yoar.
All costs ot cFiaiilabk acllvlllo8 In both year8 w¢r6 charged to unro4tdoted funds.
Support costs
cosis
st
T￿￿?￿$, ￿p8n$0¥
Diocgsan finan¢i81 management f8•
IndopendéTht examiner's fees
2Q8
706
242
737
g(J)
798
900
1,108 £
796
1,904

3ALI3BURY DIOCESAN CLERGY WIDOWS AND DEPENDANTS FUND
NOTES TO THE ACCouNT8 FOR THE YEAR ENDED 31 DECEAIBER 2014
8. Rolalod party trnMa¢llgnx, Iw¥tspTrY' WXPon$os 4nd rnmungratlon attd koy m•h￿&m&nt per8onnol
Th& Lharlty ¢on$idfrr$ its key managomonl p6r80nnel comprls8 th¢ Iru$teés oiid tho clerk. No ttuGt88s r4gc8fvad gny
rgmuner9tion durlnll tho yoar12023. £nlll. One tru8t80 r&G8lvÈd rolmburs¢m¢nt oflr4vg1 gxpernsos ol 12Q812Q23-
ono trustee £62}. charity had no oth&r relats(I paty tran$acllon$ durfnu the year {2023- £nll),
7. Flxod Inve8tm#nt8 . U$tsd Investrnènts
Uiwe.51rthd Endownenl
lund8
funds
2024
rr>lal
nds
Tolpl
ILJnd$
Vlérkgt value at 1 J&nuary
Npt Snvu$trrnènt gain l {Ip$$l on rovaluatlon
8rt<et v•lue at 31 CJec*mbfji'
23,437
769,277
792,714
747,838
£ 23,073 £ 783839 £8Q7,810
792,714
Origin$l ¢cr¥t gt 31 D¥c9mbar
738 £ 218,138 £..220,871
22P.871
Unre1411sed gHins * 31 Dett•mb8r
£ 21235 £..PJe¥.703... E 08¢,93A.
571,843
CharitV¥ poll¢y Is to hold &li Its Inveslrnents In the ¢BF ¢huT¢h of Enuland lunds wlth tho 8tm of IDng t*m)
aopitAI and Incomè growth. A 31 December 2024, tho vrAlue of the Endo4rtnÉ¥nl fund Investments was reprosenled hy
78% In tho Invathent Fund and 22% In thg Property Fund, The Unr¥$trkted fvnd h¢kts 1038.80 CBF Invoslmgnl
Fund Incom¢ share8.
Tha main rl¥( to the Ch4rlty from fjttantsiil in5trum¥nts Itos In t￿ cornbinatton of unc8rtoln Inv08tmont mark¢ts and
volatil&ty In yield.
8. C*#h hold by Sall*bury Dlowan Board ol Flnanc•
Thè Cha￿ty d¢*as nut hold 4 bank acoount In hs own nam& Banking fa¢ililes are opprated thmiigh a d&,glgnatsd
TNsls AcLount art¢ a soparal8ly d¢signaled CBF D&posil Funct held in the name of Sali$￿iry Di00￿n B08rd of
Fln4nGg.
9. ¢rndllm: aniouhts falllng duo wlthln ono y￿r
Aeeruals and deferred Incomty
2,414
1.514
10 Movomont Ih fundlng eommltmfrnts for grdntts durfng tho y•ar
Grantrommttmènts r8cognisèd #s at 1 January
New grant comm7kn￿t& charged lo thè SOFA In year (see Notè 4
Grants p*id during Iho year
Grarti¥ wmmltments re￿gnI$9d as al 31 Dgcembor Nots g)
25,SOD
26,509
11. AThalplB of cl￿rItabl• fundts
aly918 of Funds movemenls
ains and
Endowment funds
Unr¢$lrlGted funds
7fj9,277
101.152
30.89D
870,429 £ 30,890 £
14,559
536
£ 14,096
7a3,836
121674
905 510
10,90
12 An4lyBl• of ¢h•rllablè funds . pr•vlou# yur
Analysis ol Funds movements
Endowm4nt fund5
Unrostrleted fund$
726,433
97,032
29.488
823 4fj5 £ 29.468 £
42,B44
2,032
£44 876
769,277
101,152
870,429
27,379

8AU8SURY DIOCESAN CLERGY WIDOWS AND DEPENDANTS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DEGEMBER Z024
13. Analys18 of not•suts balween funds
Flxod 4tsts8t Inve$thients
Current 8ss6t8
Current liabllilles
Total
23,973
100,118
2,414
£ 121,675 Z 783,836
783,836
807,810
100,116
£ U05,511
1& Analy•l$ of not o$sets boiweei) fund8- pravlous year
ow
Flxed asset Investrnenls
Current as8ets
Current Ilablllllg5
Total
23.437
79,230
789,277
792,714
79,230
.£ 101153 £ 769,277
15. FInart¢1￿1 InJtrum¢nts
Flnanclal as881s mea8urtsd at fair valu8 through prof&t and los$',
Inv6slmeiib held 8t falr valu
807,810
£ 807,810
£ 792,714
Income, exponsè, gAlns or losstys. Incliidin9 changets In falr v01ue, r6wgn1¥8d on.,
Galn8llLo3sesl Dn Flnanclal a$8el$ measurod al lalr ¥alue
Intorest on cash deposits
Income from Ilsipd investment&
15,096
4,254
28,611
44,476
3,238
26,205
£74,31

SALISBURY DIOCESAN GLERGY WIDOWS AND DEPENDANTS FUND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE8
FOR THE YEAR ENDEI) 31 DECEMBER 2024
I report to th8 trustees un my £xamlnatlon of Iho ¥cmunts of Iho Samsbury Dl0¢899n Cl¢r9y wi¢ows aNI Dependgnts Fund
Ilhe Tru$l) frtr thb ytar ended 31 De¢emt)er 2024, whl¢h af¢ set out tsn pagE$ 3 to 7.
RpSPonstbllltl•8 bt*lE ol report
Ag Iho charity tru8teos of the Twst you oro respon*lblg for the propaT•tlori of the arxounl& In g¢cordanc8 wllh th6
rBqulr?ments of th& Charttlos Act 2011 (lhg Act,).
l Teport In rospBct of my oxamlnaliDn of the Trijsvs a¢coiNrts ¢arrl¥d out under se¢llon 1¥ of tho 2011 Ad and in ¢arrylng out
my wimlnatlon I follow•d au th& appl1￿ble Dlrection$ glven by tht Charlty Commi&slon und&r 8Bcdon 145(6llb) ol tho
Attt.
Ind¢ppndÈnt examlner'ts ¥tatvmont
I have Compléted my ex8mlnallon. l ihal mater[81 matt￿$ h8Va my attenllon in c4)r(n8dl(m wfth th8
xamlnetlun glvlng me o4u8e tu b￿1¢￿ that Sh gny m*orlal w5pe¢t:
aG¢ounllng rocoids were not kept ift respoct of the Tru8tas fequlred ljy s?olion 130 of tho Act, vr
I th& a￿￿￿15 do not OCGtrrd wlth thtrse r¢¢of<l& or
the a¢zounts do not comply wtth the appllerlbl? requlr•ment8 aoncfjmlng the fomi and ¢ontwnt of aceDunts s
oul in the ChaTiIi08 tAccount8 Bnd Report&) Regulations 20DY other than any requlremènl Ihgt th& xmunts
glvg a Iru• and falr ￿eW whlch Is not A mattar consldered as part of 8n indepgndent examlnatlon.
I have no c(Jncèms and hovo ¢¢Jmè ae106s no oth81 m7Lt¥r* In Gonngdion wlth th8 8xainlnaOon to whlch attenllcsn should be
drawn In th16 report In order to ¢nablg a proper undèrslandlw of the aocounls lo be reachèd.
Mrs N A Hdls FCA
Flelrhèr & Partners
crown Chambers
Bvidge Slreet
Salrsbury