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REGISTERED CHARITY NUMBER: 1057461
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Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
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Leek U3A
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Bennett Brooks (Leek) Ltd Cherry Tree Court Cross Street Leek Staffordshire ST13 6BL
Leek U3A
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Contents ofthe Financial Statements for the year ended 31 December 2023
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Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet : 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11
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.. Leek U3A Report of the Trustees : for the year ended 31 December 2023 : The trustees present their report with the the financial statements of the the charity for the year ended ended 31 December 2023. The trustees have / adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities | preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK UK and Republic of Ireland Ireland (FRS : 102) (effective 1 January 2019). | OBJECTIVES AND ACTIVITIES : Objectives and aims : Leek u3a was established in 1995 and is a registered charity with its own constitution approved by the national u3a Third Age Age Trust : to which which it is affiliated. / Nationally the u3a was established 40 years ago and there are now now over 1,000 u3a's in the UK UK with total membership in excess of | The u3a's primary objectives are to encourage and promote the benefits of lifelong learning together with a full and active social life : by providing the framework for educational, creative, leisure and sporting/keep fit activities for people in the 3rd age of their lives. : The main membership stipulation is that members should no longer be in full time employment. : Beyond these organised activities there is a social dimension to u3a membership which is especially relevant to members from single : person households. : The u3a motto is “Learn, Laugh, Live". : Activities in 2023 | 2023 saw Leek u3a recover fully from the impact of Covid. However, some members are still nervous about interacting socially as : much as they had before Covid.
; pre-Covid level. In addition to regular group from technology. We technology. We We also host coffee mornings mornings In April 2023 we 2023 we we held our AGM which included our AGM which included AGM which included which included included | For 2023 2023 the committee made the decision to : £1.50 in a bid bid to both recover losses suffered likely to be suffered due to energy cost rises. : session numbers more numbers more more quickly than we feared. than we feared. we feared. feared. / Financially we are sound and hold a cash reserve. Public benefit / The Trustees have complied with the duty in : Charity Commission. Commission.
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The trustees present their report with the the financial statements of the the charity for the year ended ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK UK and Republic of Ireland Ireland (FRS 102) (effective 1 January 2019).
Objectives and aims Leek u3a was established in 1995 and is a registered charity with its own constitution approved by the national u3a Third Age Age Trust to which which it is affiliated.
Nationally the u3a was established 40 years ago and there are now now over 1,000 u3a's in the UK UK with total membership in excess of
By the end of the year we had over 80 groups meeting, mainly weekly and our membership had recovered to nearly our 1,000 pre-Covid level. In addition to regular group sessions we also host Tech Support meetings each month to help members get benefit from technology. We technology. We We also host coffee mornings mornings at the main town centre church as a profile raising exercise.
In April 2023 we 2023 we we held our AGM which included our AGM which included AGM which included which included included the election of new Committee members.
For 2023 2023 the committee made the decision to keep annual membership at our previous price of £15 and to increase session fees to £1.50 in a bid bid to both recover losses suffered during the 3 years of Covid and also in preparation for increased accommodation costs likely to be suffered due to energy cost rises. In fact, after a few months we reduced class fee back to £1, having recovered group session numbers more numbers more more quickly than we feared. than we feared. we feared. feared.
The Trustees have complied with the duty in Section 4 of 2006 Act to have due regard to public benefit guidance published by the Charity Commission. Commission.
FINANCIAL REVIEW
Investment policy and objectives
The charity does not have an investment policy. Reserves are held in interest bearing bank accounts when available.
Reserves policy
The charity maintains a contingency reserve, currently standing at £22,000, to cover expenditure should funding not be available.
The results for the year are shown in the Statement of Financial Activities.
Income for the year has increased by £15,798 to £58,828, with an increase in expenditure to £52,083. This has resulted in a net surplus for the year of £6,745 and leaves total funds at 31 December 2023 of £36,746, £2,000 of which is restricted.
: STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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Leek U3A
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| for the year ended 31 the year ended 31 year ended 31 ended 31 31 December 2023 2023 | | STRUCTURE, GOVERNANCE AND MANAGEMENT | Organisational structure Leek u3a has a committee made up of seven people. Members of the committee are elected for by members at the Annual General | Meeting. Up to four extra members can be co-opted onto the committee. All major decisions are taken at full committee meetings, | held monthly.
Report of the Trustees for the year ended 31 the year ended 31 year ended 31 ended 31 31 December 2023 2023
Any committee member can authorise group spending of up to £50. Sums above this need to be discussed and agreed by the committee. ;
Each activity group is autonomous and is led by a group leader. There is a Group Co-ordinator on the committee who liaises closely with the leaders and significant issues are brought to the full committee. The leaders are a key part of Leek u3a and their valuable contributions add significantly to the growing success of the organisation.
Our main base is at Norton House where we have a locked office. We also use the Norton House annexe, the Watson Centre. For both of those we pay an annual rent and have a renewable lease. Norton House Trustees keep Leek u3a informed of latest fire and safety regulations. We are fully insured. We also hire other accommodation in the town, such as the Leisure Centre, where we rely on the Health and Safety regulations of the appropriate body. We have had no negative Health and Safety events this year. Groups going on visits and trips inform the Chair and all monies are paid through the u3a accounts, except for holidays arranged through ABTA insured companies
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1057461
Principal address Norton House Fynney Street Leek Staffordshire ST13 SLF Trustees A Baxter I Cantril D Thomas K Jones S Abbott C Sheldon R Roche
Independent Examiner Bennett Brooks (Leek) Ltd. Cherry Tree Court Cross Street Leek Staffordshire ST13 6BL
Approved by order of the board of trustees on 8 May 2024 and signed on its behalf by:
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ICantrill - Trustee
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Independent Examiner's Report to the Trustees of Leek U3A
| Independent examiner's examiner's I report to report to to the charity charity i Responsibilities and basis basis of | As the charity trustees of the : Charities Act 2011 Act 2011 2011 (‘the Act’). : I report in respect of my my : examination I have followed I have followed have followed followed Independent examiner's examiner's : LT have completed my examination. : giving me cause to believe me cause to believe cause to believe to believe believe that in any material respect: : L. accounting records records were not kept in respect of : 2.° the accounts do accounts do do not accord with those : 3, the accounts do : Charities (Accounts | which is not is not not a matter considered as part ofan independent examination. I have no concerns and : this report report in order to enable order to enable to enable enable a proper understanding of ' Mrs YAO Wood : Bennett Brooks (Leek) Ltd : Cherry Tree Court Tree Court Court Cross Street 7 Leek Staffordshire : ST13 6BL
Independent examiner's examiner's report to the trustees of Leek U3A I report to report to to the charity charity trustees on my examination of the accounts ofLeek U3A (the Trust) for the year ended 31 December 2023.
Responsibilities and basis basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Act 2011 2011 (‘the Act’). I report in respect of my my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed I have followed have followed followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's examiner's statement
LT have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe me cause to believe cause to believe to believe believe that in any material respect:
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L. accounting records records were not kept in respect of the Trust as required by Section 130 of the Act; or 2.° the accounts do accounts do 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 is not not a matter considered as part ofan independent examination.
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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 report in order to enable order to enable to enable enable a proper understanding of the accounts to be reached.
Cherry Tree Court Tree Court Court Cross Street Leek Staffordshire ST13 6BL Date: wee AE TPO cee
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Leek U3A
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Statement ofFinancial Activities for the year ended 31 December 2023
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|.|2023|2022|
|Unrestricted|Restricted|Total|Total|
|funds|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|1,501|-|1,501|1,735|
|Charitable|activities|
|Learning|services|56,969|-|56,969|41,168|
|Investment income|2|358|-|358|127|
|Total|58,828|-|58,828|43,030|
|EXPENDITURE ON|
|Raising funds|307|-|307|1,268|
|Charitable activities|
|Leaming|services|51,776|-|51,776|45,291|
|Total|52,083|-|52,083|46,559|
|NET INCOME/(EXPENDITURE)|6,745|-|6,745|G,529)|
|RECONCILIATION OF FUNDS|
|Total|funds|brought|forward.|28,001|2,000|30,001|33,530|
|TOTAL FUNDS CARRIED FORWARD|34,746|2,000|36,746|30,001|
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The notes form part of these financial statements
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Leek U3A
Balance Sheet
31 December 2023
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|2023|2022|
|Unrestricted|Restricted|Total|Total|
|funds|fund|funds|funds|
|.|FIXEDTangible ASSETSassets|:|Notes5|1,900£|£|-|1,900£|1,900£|
|CURRENT ASSETS|
|Debtors|6|256|-|256|367|
|Cash at bank and in hand|42,735|2,000|44,735|36,727|
|42,991|2,000|44,991|37,094|
|CREDITORS|
|Amounts falling due within one year|7|(10,145)|-|(10,145)|(8,993)|
|NET CURRENT ASSETS|32,846|2,000|34,846|28,101|
|.|—|-|—|ee|—————|
|TOTAL ASSETS LESS CURRENT LIABILITIES|34,746|2,000|36,746|30,001|
|NET ASSETS|34,746|2,000|36,746|30,001|
|FUNDS|8|
|Unrestricted funds|34,746|28,001|
|Restricted|funds|2,000|2,000|
|TOTAL FUNDS|36,746|30,001|
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The financial statements were approved by the Board of Trustees and authorised for issue on 8 May 2024 and were signed on its behalf by:
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lpNu fit...( J
I Cantrill - Trustee
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The notes form part of these financial statements
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Leek U3A
Notes to the Financial Statements
- ACCOUNTING POLICIES
; The financial statements of the the charity, which is a public public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and UK and and Republic / of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and UK and and Republic of Ireland’ Ireland’ and the Charities Act 2011. 2011. The financial statements have been prepared been prepared prepared under : the historical historical cost convention. convention. Income : All income— is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable : that the income will be received and the amount can be measured reliably. Voluntary income received by way of grants, donations and gifts is included in full when receivable. Grants where : entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity ; becomes unconditionally unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services : provided by volunteers has not been included.
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- INVESTMENT INCOME
for the year ended 31 December 2023
Basis of preparing the financial statements
The financial statements of the the charity, which is a public public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and UK and and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and UK and and Republic of Ireland’ Ireland’ and the Charities Act 2011. 2011. The financial statements have been prepared been prepared prepared under the historical historical cost convention. convention.
Voluntary income received by way of grants, donations and gifts is included in full when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally unconditionally entitled to the grant.
Gifts donated for resale are included as incoming resources when they are sold.
Income from investments is included in the year in which it is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis basis consistent with with the use use of resources.
i can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under | aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings allocated to activities on a basis basis consistent with with the use use of resources. : Tangible fixed assets : Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
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Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose ofeach fund is included in the notes fo the financial statements.
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2023 2022
Deposit account interest 358 127
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Leek U3A
Notes to the Financial Statements - continued for the year ended 31 December 2023
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- TRUSTEES' REMUNERATION AND BENEFITS
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There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
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| COMPARATIVESFORTHESTATEMENT OFFINANCIALACTIVITIES | COMPARATIVESFORTHESTATEMENT OFFINANCIALACTIVITIES | COMPARATIVESFORTHESTATEMENT OFFINANCIALACTIVITIES | ||
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| Unrestricted funds |
Restricted fund |
Total funds |
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| INCOMEANDENDOWMENTSFROM | ||||
| Donationsandlegacies | 1,735 | - | 1,735 | |
| Charitableactivities Learningservices |
41,168 | - | 41,168 | |
| Investmentincome | 127 | - | 127, | |
| Total | . | 43,030 | - | 43,030 |
| EXPENDITUREON | ||||
| Raisingfunds | 1,268 | - | 1,268 | |
| Charitableactivities | ||||
| Learning services | 45,291 | - | 45,291 | |
| Total | 46,559 | - | 46,559 | |
| NETINCOME/(EXPENDITURE) | (3,529) | - | (3,529) | |
| RECONCILIATION OFFUNDS | ||||
| Totalfunds broughtforward | 31,530 | 2,000 | 33,530 | |
| TOTALFUNDS CARRIEDFORWARD | : | 28,001 | 2,000 | 30,001 |
| TANGIBLEFIXEDASSETS | ||||
| Fixtures | ||||
| and | ||||
| , | fittings | |||
| COST | ||||
| At 1 January2023 | 15,462 | |||
| Additions | 335 | |||
| At31 December2023 | 15,797 | |||
| DEPRECIATION | ||||
| At 1 January2023 | 13,562 | |||
| Chargeforyear | 335 | |||
| At31 December2023 | 13,897 | |||
| NETBOOKVALUE | ||||
| At 31 December2023 | 1,900 | |||
| At31December2022 | 1,900 |
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- DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Leek U3A
Notes to the Financial Statements - continued for the year ended 31 December 2023
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|2023|2022|
|/|£|£|
|Other|debtors|256|367|
|7.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|2023|2022|
|Other creditors|10,145|8,993|
|:|8.|| MOVEMENTIN FUNDS|Net|
|i|movement|At|
|:|At|1.1.23|in funds|31.12.23|
|||Unrestricted funds|
|'|General fund|28,001|6,745|34,746|
|Restricted|funds|
|||Capital expenditure fund|2,000|-|2,000|
|;|TOTAL FUNDS|30,001|6,745|36,746|
|Net movement|in funds,|included|in the above|are|as|follows:|
|Incoming|Resources|Movement|
|:|resources|expended|in funds|
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|'Unrestricted|funds|
|/|General fund|58,828|(52,083)|6,745|
|TOTAL FUNDS|58,828|(52,083)|6,745|
|Comparatives|for movement in|funds|
|Net|
|/|movement|At|
|/|At|1.1.22|in funds|31.12.22|
|’|Unrestricted funds|
|/|General fund|9,530|(3,529)|6,001|
|Contingency|fund|22,000|-|22,000|
|31,530|(3,529)|28,001|
|:|Restricted|funds|
|Capital expenditure|fund|2,000|-|2,000|
|TOTAL FUNDS|33,530|(3,529)|30,001|
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Leek U3A
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Notes to the Financial Statements - continued for the year ended 31 December 2023
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
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|Incoming|Resources|Movement|
|resoutces|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|43,030|(46,559)|(3,529)|
|TOTAL FUNDS|43,030|(46,559)|(3,529)|
|A current year 12|months and|prior year 12 months combined position is as follows:|
|Net|
|movement|At|
|~|At|1.1.22|in funds|31.12.23|
|£|£|£|
|General fundUnrestricted funds|9,530|3,216|12,746|
|Contingency fund|———22,000|————_-|——22,000|
|31,530|3,216|34,746|
|Restricted|funds|
|Capital expenditure fund|2,000|-|2,000|
|TOTAL FUNDS|33,530|3,216|36,746|
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|A current year|12 months and prior year|12 months|combined net movement in funds, included in the above are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|101,858|(98,642)|3,216|
|TOTAL FUNDS|101,858|(98,642)|3,216|
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The general fund represents the free funds of the charity which have not been designated for a particular purpose.
The contingency fund represents monies held by the charity to cover unexpected expenditure and cashflow should alternative funding not be available.
The capital fund comprises funding towards the purchase of equipment and materials. The balance on the fund represents monies not yet spent and depreciation not charged against the fund.
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Leek U3A
Notes to the Financial Statements - continued for the year ended 31 December 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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Leek U3A
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|Detailed Statement of|Financial Activities|
|for the year ended 31 December 2023|
|2023|2022|
|INCOME AND ENDOWMENTS|
|Donations|and|legacies|
|Donations|369|696|
|Gift aid|1,132|1,039|
|1,501|1,735|
|Investment income|
|Deposit account interest|358|127|
|Charitable|activities|
|Fundraising|306|279|
|Events|5,849|3,052|
|Class|fees|36,752|28,925|
|Membership|fees|14,062|8,912|
|56,969|41,168|
|Total incoming resources|58,828|43,030|
|Raising donations and legacies|
|Fundraising|costs|307|1,268|
|Charitable activities|
|Rent and room hire|37,256|34,952|
|Printing|and stationery|129|47|
|Management and administration|978|873|
|Repairs and maintenance|123|100|
|Catering|795|745|
|Teaching|1,132|882|
|Class|expenses|1,232|436|
|Visits|5,849|3,052|
|U3A|affiliation fees|,|3,336|3,264|
|Depreciation of|tangible fixed assets|335|358|
|51,165|44,709|
|Support costs|
|Governance|costs|
|Accountancy and legal fees|611|582|
|Total resources expended|52,083|46,559|
|Net income/(expenditure)|6,745|(3,529)|
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