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2022-03-31-accounts

HEADWAY SOUTHAMPTON

ANNUAL REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Company Limited by Guarantee Registered in England No. 03263597

Registered Charity No. 1058717

120 Commercial Road Totton Southampton SO40 3AD

HEADWAY SOUTHAMPTON

A COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Officials and other details 1
Report of the trustees 2 -3
Chairperson's report 4 – 5
Independent Examiner's report 6
Statement of financial activities 7
Balance Sheet 8
Notes to the accounts 9 -12
Non - statutory information, for the trustees only
Detailed trading and profit and loss account 13-15

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

Trustees J Lloyd (Chairperson)
H Knight
E Thomas
E M Bailey
F Bonafoux
Manager T Lockwood
Bankers Lloyds TSB
Shirley Branch
77 Shirley High Street
Southampton
SO15 3TX
Accountants IQ Business Consulting Ltd
Innovation House
Wincombe Lane
Shaftesbury
Dorset
SP7 8FG
Address & Registered Office 120 Commercial Road
Totton
Southampton
SO40 3AD
Company Secretary M Bennett
Solicitors Trethowans
Rockstone Place
Southampton
SO15 2EP
Company Number 03263597
Charity Number 1058717

Page 1

HEADWAY SOUTHAMPTON

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees submit their annual report and the accounts for the year ended 31 March 2022.

Objects and Principal Activity

The objects and principal activity of the company continued to be the rehabilitation of persons who have suffered acquired brain injuries and who reside in Southampton and South West Hampshire and to advance the education of the public in the matter of head injuries. Headway Southampton is affiliated to Headway – the brain injury association, which is a separate company limited by guarantee.

Review of the Year and Plans for the Future

The review of the year and plans for the future are included in the attached report of the Chairperson.

Trustees

The Trustees are responsible for decision making within the organisation based upon reports and other information provided by the Manager and other members of staff. The trustees who served during the year are as listed below:

J Lloyd (Chairperson)

H Knight E Thomas E M Bailey F Bonafoux

In accordance with clause 29 of the Articles of Association one third of the trustees retire at the forthcoming Annual General Meeting and offer themselves for re-election.

In accordance with clause 5 of the Memorandum of Association, no trustee was in receipt of any remuneration in respect of his or her services.

The company is limited by guarantee, not having a share capital. The company is established as a charitable body not for profit. Accordingly, the trustees, who are also members of the company, have no beneficial interest in the equity or assets of the company.

The maximum contribution required from each member, in the event of a winding up is £10.

The Articles of Association of the company govern the appointment of trustees.

Reserves

The company’s policy on reserves is shown in the notes to these accounts.

Risk review

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining our reserves at the levels stated on page 8 to these accounts combined with our annual review of the controls over key financial systems carried out will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks, which they face and confirm that they have established systems to mitigate the significant risks.

Public benefit

The trustees have considered the definitions of charitable purpose in the Charities Act 2011, and are confident that the activities of the charity are conducted for the benefit of the public and fall clearly under the headings of the advancement of health, the advancement of education, with regard to the causes and consequences of acquired brain injury and the relief of those in need by reason of ill-health, disability, financial hardship or other disadvantage.

Page 2 continued.…

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2022

Trustees’ Responsibilities

Company law requires the trustees to prepare accounts for each financial year, which give a true and fair view of the company’s state of affairs at the end of the year and of its surplus or deficit for that period. In preparing those accounts the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud or irregularities.

Approved by the board of trustees on

Jack Lloyd Trustee

Page 3

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

CHAIRPERSON’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Headway Southampton is a registered charity and a company limited by guarantee. Our mission is to improve the lives and promote the independence of local brain injury survivors, to provide support and advice to their families, friends, and carers and to raise awareness of the life changing effects of brain injury. The organisation provides a community-based, post-acute rehabilitation, activity, and support service for adults with an acquired brain injury. Our board of Trustees met six times during the year to review and assess this work, develop policies, advise on good practice, and monitor operations.

The 2021/22 year has been a year of rebuilding after the massive disruption that COVID brought to the UK and the subsequent lockdowns. We closed our centre for much of 2020 and parts of 2021 in accordance with the directions of the UK government and local councils. The result of the lockdowns on people who have sustained an acquired brain injury has been substantial. We have seen a decline in confidence, a decline of both mental and physical health, a development of unhealthy habits, such as eating the wrong foods and lack of exercise, as well as a decline in the ability to socialise effectively, which has meant that when the centre reopened, we were met with several post pandemic challenges.

We decided to tackle the challenges using several tools. The first being to restart service user reviews which through the Covid effected years had become impossible to carry out. Within these reviews we developed the four pillars of provision.

These Pillars are:

  1. Engagement: Looking at helping service users engage conatively with events and the world around them. Looking at developing coping strategies that can help negate the effect of their brain injuries.

  2. Wellbeing: This pillar worked on their physical and mental wellbeing, including helping them to develop positive habits, including hobbies, wellness exercises, develop fitness and cooking skills to help have more of an understanding of nutrition and empowering them to use these skills at home.

  3. Community: helping service users build friendships, gaining peer support and sharing best practise in living with life after brain injury. Also learning how to use social media in a safe and responsible way.

  4. Independence: This involved looking at building skills that helped service users have as much independence as possible. Looking at equipping them with skills which they can take away from Headway and use in their everyday life.

Each review is done with the service user, asking them what they would like to get out of each pillar and making sure it is user focused. Each staff member has key service users they are responsible for helping to work towards their goals and are reviewed monthly by how they are supporting their service user. Each staff member evidences the work they are doing with their key service user and is appraised annually by this evidence.

The second tool to help us rebuild our provision for this post COVID era is our new DIRECT service. DIRECT stands for DIgital REhab ConnecTion. It uses what we learnt from our working with service users during lockdowns and makes it available to service users who either can't come to the centre or who want further to contact with our services. This involves a counselling service for both survivors of ABI’s and those that care for them, regular zoom sessions throughout the week for service users to join, digital training for those with ABI’s, one to one support sessions to give advice and help for those with an ABI and those that care for them, and community support groups. During the 2021/22 financial year we contracted a fundraising company called Competitive Solutions Ltd to help us raise the finances for this project and we are grateful for their help in putting together a successful grant bid to the National Lottery community fund who has agreed to finances our DIRECT provision for three years at a cost of £300,000. We are incredibly grateful to the National Lottery in providing this support to Headway UK.

Page 4

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

CHAIRPERSON’S REPORT - continued FOR THE YEAR ENDED 31 MARCH 2022

The DIRECT service went fully live in March 2022 with the structure, planning and marketing taking place from December 2021. This involved recruiting a consultant to set up the project and pioneer the initial stages, as well as a full-time rehabilitation officer to coordinate and run several of the services.

During the year we have provided:

Due to the National Lottery funding and the increase in our centre attendance which is paid for by contracts with Hampshire County Council, Southampton City Council as well as privately funded placements, we saw our total income increase to £264,959. This included a grant of £14,017 from the WHCCG which has been secured for a further year. Also, income from several fundraisers and donations which came to £2,683. This remained subdued when compared to previous years due to continued COVID restrictions and concerns.

Due to extra expenses, including extra staff to cover COVID absences, as well as contracting Competitive Solutions Ltd we saw a total operating loss of £16,319. An unrestricted funds loss of £33,940. The trustees had allocated £62,200 in unrestricted reserves to cover the expected losses. Even with the additional spending of the restricted income, we saw a betterthan-expected financial result in the year.

Headway Southampton finished the year with unrestricted reserves of £47,710 as well as £185,00 of allocated reserves, in addition to the restricted reserves of £17,621 for the DIRECT service.

We have also seen an increase in staffing over the year, this included bringing on an extra member of staff to cover for COVID absences as well as beginning to develop the DIRECT service. At the end of March 2022 Headway Southampton employed 10 members of staff, 5 of which were full time and 4 part time. One of those staff members spent 6 months of that year on maternity leave. In addition to these staff members, we also contracted a Project management consultant.

During the year we continued to get several referrals. We dealt with 52 referrals to both our centre and DIRECT services.

At our AGM, two trustees resigned after 3 years' service, in accordance with our articles of association, and were voted back into the trustee team by the remaining trustees. I was also re-voted into the role of Chair for another year.

I would like to thank all our stakeholders who have helped to make this year a successful one for Headway Southampton, as we begin to rebuild our services, to cater to a post pandemic society. This includes our team of staff and volunteers who provide such a great service for those who have survived an acquired brain injury, as well as those that care for them. I would also like to thank all those who have generously fundraised for Headway Southampton over this last year, and for the donations we have received and the grants that have helped us to continue to push forward and offer the best support and service that we can. Also, I would like to thank the service users who continue to inspire, challenge, and motivate us with their stories of survival, endurance, and optimism in the face of life changing injuries.

Jack Lloyd Chairperson

Page 5

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022, which are set out on pages 7 - 12.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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:

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.

----- Start of picture text -----
Paul Stacey FCA
----- End of picture text -----

For and behalf of

IQ Business Consulting Limited, Chartered Accountants Innovation House, Shaftesbury, Dorset, SP7 8FG

Page 6

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes Unrestricted
Restricted		 Total Total
Funds
Funds		 Funds Funds
£
£		 £ £
Income
Charitable activities 196,460
-		 196,460 181,568
Donations and legacies 2,683
51,124		 53,807 15,973
Covid Grants and Funding 14,672
-		 14,672 31,994
Investment income 20
-		 20 52
Other income -
-		 - 40
Total income 213,835
51,124		 264,959 229,627
Expenditure 2 247,775
33,503		 281,278 199,007
NET INCOME (33,940)
17,621		 (16,319) 30,620
FUNDS BOUGHT FORWARD 266,650
-		 266,650 236,030
FUNDS CARRIED FORWARD 232,710
17,621		 250,331 266,650

The notes on pages 9 to 12 form part of these accounts.

Page 7

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted Unrestricted Restricted Total Total
Funds
2022		 Funds
Notes
Funds Funds 2021
£
£		 £ £
FIXED ASSETS
Tangible Assets 3 13,431
-		 13,431 18,466
CURRENT ASSETS
Debtors 4 37,720
-		 37,720 19,951
Cash at bank and in hand 188,849
17,621		 206,470 233,459
225,569
17,621		 244,190 253,410
CREDITORS
Amount falling due within one year 5 7,290
-		 7,290 5,226
NETCURRENT ASSETS 219,279
17,621		 236,900 248,184
NET ASSETS 232,710
17,621		 250,331 266,650
FUNDS
General unrestricted fund 6 47,710
-		 47,710 19,450
Restricted funds 6 -
17,621		 17,621 -
Designated funds 6 185,000
-		 185,000 247,200
232,710
17,621		 250,331 266,650

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the charitable company to obtain an audit of its accounts for the year ended 31 March 2022, in accordance with section 476 of the Companies Act 2006. The Directors acknowledge responsibility for:

i) ensuring the charitable company keeps accounting records which comply with section 386 and 387 of the Companies Act 2006; and

ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and its profit and loss for each financial year in accordance with Sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the board of trustees and signed on its behalf by:

J Lloyd - Trustee

Date:

The notes on pages 9 to 12 form part of these accounts

Page 8

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of accounts

The accounts are prepared under the historical cost convention and in accordance with the statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2015) and the Charities Act 2011.

The charity has taken advantage of the exemption in Financial Reporting Standard 1 from the requirement to produce a cash flow statement on the grounds that it qualifies as a small Charity.

The charity meets the definition of a public benefit entity under FRS 102.

Depreciation of tangible assets

Depreciation is calculated on all tangible fixed assets in use, at rates and bases calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment 25% per annum on a reducing balance basis/33.33% per annum on a straight line method Computer Equipment straight line over 3 years Leasehold Improvements straight line over 9 years Motor Vehicle 25% per annum on a reducing balance basis

Donated equipment and services

Equipment donated to the charity is included in fixed assets at an estimated value of cost and credited to the Statement of Financial Activities as a donation in kind in the year of receipt.

Incoming Resources

Incoming Resources represents grants, attendance allowances and donations receivable. Donations are included in the accounts when received. Grants and Attendance Allowances are included either on a contractual basis or on such dates as the trustees consider that they are receivable.

Resources Expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Value Added Tax

Expenditure which is subject to VAT is included in these accounts inclusive of VAT as it is not recoverable by the charity.

2. RESOURCES EXPENDED - UNRESTRICTED 2022 2022 2021
£ £
Direct Care Costs
Therapy& Activities 3,354 420
Salaries(incl. NI) (see below) 88,570 72,708
Pension,Training& Other Staff Costs 6,577 11,113
Establishment expenses 37,485 35,477
135,986 119,718
**Management and Administration **
Salaries(incl. NI) (see below) 62,307 70,114
Accountancy 3,094 2,999
Fundraising 40,844 216
106,245 73,329
Financial Expenses
Depreciation 5,544 5,960
TOTAL RESOURCES EXPENDED - UNRESTRICTED 247,775 199,007

Page 9 Continued...

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

RESOURCES EXPENDED - RESTRICTED 2022 2022 2021
£ £
Direct Care Costs
Salaries(incl. NI) (see below) 4,178 -
Pension,Training& Other Staff Costs 854 -
Establishment expenses 8,587 -
13,619 -
**Management and Administration **
Salaries(incl. NI) (see below) 8,284 -
Fundraising 11,600 -
19,884 -
TOTAL RESOURCES EXPENDED - UNRESTRICTED 33,503 -

Staff Costs and Numbers

The number of staff who were remunerated during the year within the following bands

£1 to £10,000 1 5
£10,001 to £20,000 6 5
£20,001 to £30,000 3 1

Of these 3 members of staff were employed within management and administration, the balance were employed for charitable purposes.

Of the total salary costs £7,487 is in respect of National Insurance Costs the balance is gross wages.

3. FIXED ASSETS Fixtures,
fittings and
equipment
Leasehold
improvements
Motor
vehicles		 Fixtures,
fittings and
equipment
Leasehold
improvements
Motor
vehicles
Total
£
£
£		 £
Cost
At 1 April 2021 39,986
48,455
44,836		 133,277
Additions 509
-
-		 509
At 31 March 2022 40,495
48,455
44,836		 133,786
**Depreciation **
At 1 April 2021 29,856
44,494
40,461		 114,811
Charge for theyear 3,956
495
1,093		 5,544
At 31 March 2022 33,812
44,989
41,554		 120,355
Net Book Value
At 31 March 2022 6,683
3,466
3,282		 13,431
At 31 March 2021 10,130
3,961
4,375		 18,466

All the fixed assets are used for charitable purposes.

Page 10 Continued...

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

4. DEBTORS 2022 2022 2021 2021
£ £
Grants & Attendance Allowances 31,460 14,194
Prepayments & Accrued Income 6,260 5,757
37,720 19,951
5. CREDITORS 2022 2021
£ £
Amounts fallingdue within oneyear
Trade Creditors 378 853
Other Taxes and Social Security 5,064 2,693
Accruals & Grants Received in Advance 1,848 1,680
7,290 5,226
6. FUNDS Unrestricted
Restricted
Designated		 Unrestricted
Restricted
Designated		 Total
2021
Total
2020
£
£
£		 £
£
At 1 April 2021 19,450
-
247,200		 266,650
236,030
Net movement in funds (33,940)
17,621
-		 (16,319)
30,620
Transfer between funds 62,200
-
(62,200)		 -
-
At 31 March 2022 47,710
17,621
185,000		 250,331
266,650
Designated Funds
Redundancies and Renovations
New Vehicle
Building Works		 £
160,000
20,000
5,000
185,000

7. FUNDS & RESERVES POLICY

Unrestricted Funds

The unrestricted fund is for the general running of the day service. Incoming Resources of Grants from the local Health Authority, Attendance Payments, Donations and Fundraising are included in this fund. In line with our reserves policy we are required to keep £160,000 in reserve (6 months operational expenditure) in case of unexpected closure / redundancies.

Reserves Policy

The Trustees policy for reserves is to ensure that there are sufficient funds to meet outstanding commitments and staff costs if forced to close.

Designated Funds

This is in line with our reserves policy and allows for 6 months of outgoings including redundancy payments, rent, and building work needed to return the building to its original plan, should the charity no longer be financially viable.

Page 11 Continued...

HEADWAY SOUTHAMPTON

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2022

8. GUARANTEE

The company has no share capital and is limited by guarantee.

9. LEASE COMMITMENTS

The lease on 120 Commercial Road, Totton, Southampton runs until 31 May 2025 and at the year end the remaining commitment was for £40,375 (2021: £53,125).

10. TRUSTEES REMUNERATION AND EXPENSES

During the current and previous year no remuneration or other benefits were payable to the Trustees by the charity. There were no Trustees expenses during the year.

11) RELATED PARTY TRANSACTIONS

There were no related party transactions during the current or previous year.

Page 12 continued...

HEADWAY SOUTHAMPTON A COMPANY LIMITED BY GUARANTEE

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted		 Unrestricted
Restricted		 2022 2021
Funds
Funds		 Total Total
£
£		 £ £
Income
Attendance Payments 196,460
-		 196,460 181,568
Fundraising & Donations 2,683
51,124		 53,807 15,973
Covid Grants and Funding 14,672
-		 14,672 31,994
Other income -
-		 - 40
Interest 20
-		 20 52
213,835
51,124		 264,959 229,627
Expenses
Staff Costs 157,475
13,180		 170,655 152,718
Fundraising 40,844
11,600		 52,444 216
Overheads 37,464
8,723		 46,187 35,477
Legal & Financial 3,094
-		 3,094 4,216
Activities & Social Events 3,354
-		 3,354 420
Depreciation 5,544
-		 5,544 5,960
247,775
33,503		 281,278 199,007
(Deficit)\Surplus for the year (33,940)
17,621		 (16,319) 30,620
0.00

Page 13 continued...

HEADWAY SOUTHAMPTON

A COMPANY LIMITED BY GUARANTEE

DETAILED INCOME AND EXPENDITURE ACCOUNT - continued FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Funds
Restricted
Funds		 2022
Total		 2021
Total
£
£		 £ £
Staff Costs
Salaries & N I 150,877
12,462		 163,339 142,821
Pension Costs 4,334
-		 4,334 4,050
Staff Advertising 211
400		 611 5,719
Staff &Volunteer Training 1,552
144		 1,696 -
Staff Cost 501
174		 675 128
157,475
13,180		 170,655 152,718
Overheads
Rent & Rates 9,306
3,457		 12,763 13,435
Heat & Light 2,128
-		 2,128 1,537
Motor RunningCosts 6,676
-		 6,676 5,797
Travel 129
678		 807 46
Repairs & Small Equip. 3,931
509		 4,440 4,752
Zoom room costs -
4,079		 4,079 -
Telephone 2,299
-		 2,299 1,480
Insurance 2,118
-		 2,118 2,126
Stationery& Postage 877
-		 877 627
Computer Maintenance 871
-		 871 585
Website 933
-		 933 -
Publications 36
-		 36 16
Registration fees 168
-		 168 157
Cleaning 7,228
-		 7,228 4,480
Alarm 698
-		 698 182
Sundry 66
-		 66 257
37,464
8,723		 46,187 35,477
Activities & Social Events
Social - Events,Holidays Etc. 258
-		 258 74
Counselling/ Therapist -
-		 - 235
Rehabilitation Activities 1,236
-		 1,236 37
Education Activities 786
-		 786 11
Recreational Activities 1,074
-		 1,074 63
3,354
-		 3,354 420
Fundraising
Fundraising 40,844
11,600		 52,444 216

Page 14 Continued...

HEADWAY SOUTHAMPTON

A COMPANY LIMITED BY GUARANTEE

DETAILED INCOME AND EXPENDITURE ACCOUNT - continued FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted		 2022 2021
Funds
Funds		 Total
£		 Total
£
£		 £
Legal & Financial
Accountancy 3,094
-		 3,094 2,999
Legal fees -
-		 - 1,217
3,094
-		 3,094 4,216
Depreciation
Motor 1,093
-		 1,093 1,458
Equipment 3,956
-		 3,956 4,007
Property improvements 495
-		 495 495
5,544
-		 5,544 5,960

Page 15 Continued...