Charity number: 1061197 Con4)Ally number.. 03149791 U K Federatlon of Chfinese Schools (A eompAny Ilmlted by guarantee) Trustees, report and flnancl81 statements for the year ended 31 December 2023
U K Federation of Chinese Schools (A company limlted by guarantee) Contents P#ge Legal and administrative inforniation Trnstees, report Itmlepcndent examiners, report Statement of financial 8ctivitie$ Balance sh¢ Notes to the financial statements 9-13
U K Federation of Chlnese Sehools (A company limited by guarantee) Legal and administrative Information Charhy Dumber 1061197 Company regljtratlon number 03149791 Reglstered offl¢e 8 Tham¢sdale London Colney Herts. AL2 ITB Trustee• Ms. Wai Yin Chung Chan Mrs. Mei Sirn Merry Mr. Guo Zhen He Ms. Ching Wan Amy Li Mrs Thuc Van Phan President Secretary Treasurcr (Resi0 20.01.23) Seeretary Mr5. Mei Sirn Merry Ac¢ountaDts Alan T58 Chart¢r¢d Ac¢ountan¢ 8 Thamesdale London Colney Si Albans Hcrtfordshire AL2 ITB P4ge I
U K Federation of Chinese Schools (A company limlted by guarantee) Report of the trustees (Incorporating the directors, report) for the year ended 31 December 2023 The trustees present their report and the financial st8t¢ments for the year ended 31 De¢ember 2023. The tneS who are also dIreOrS of U K Federation of Chin¢se Schools are listed on page l. For the purpoges of company law, th¢ trustees have had served during the year and up to the date of this report. Structurfy governAnce and mAn&gement Legal stn4clure UK Federntion of Chinese Schools 1$ a registered charity and company limited by 8uardntee with no share capital. The liability of members in the event of insolvent liquidation is limited to £1 each. The Charity's governing documenl is its Memorandum Articles of Association incory>orated 23 January 1996, as 8mended by special resolution on 13 Febnwy 1997. Governance and management The Charity is governed by ils Executive Committee. The Executive Committee members are elected by the membership at the Annual General M¢eling or co-opted b¢tw¢en m¢etings and subjeci to election at the following AGM. Exe¢utive Commiltee members serve for a period of three years but are eligiblc for r¢<ItiOn. Objectlves and acdvltles Chariiable objectives The UK F¢deration of Chinese Schools {UKFCS), founded in January 1996, is a clmrity that aims to proD)Ote, through its member schools, Chinese languag¢ ¢ducation and Chinese culture, Sitice its fornMlion, ils m¢mbership has conlinu to increase. But over the la$t two yes. the nwnb¢r of member schools remains approximately the swne. Today approximately 55 hoolS and associat¢s are members of the organisa¢ion, representing over 10,000 pupi16 within UK. Achlevementi and performance OryanisaÉion sffticlure The UKFCS has a ¢onstithted Exccutivc Committee that overscc5 the work for the Federation. Therc hr¢ 9 elected rncmlxr5 from 3 different regions to carry out thc duties Set out by the Federation. The Executive Committee memb¢r3 ar¢ supported by 3ub4ommittees running different activtties for the members Sr4b commltieej The cxi5ting sU0)mittee$ include the Education Committee, Culturnl and R¢¢reation Committee, Fundrnising Committee, and Sales Committee. Fach committee is chaired by an Executive Committee member. The operpdtions of the UKFCS hav¢ been affec*d by the Pandemic, leadin8 lo A redu¢iion An manpower and expeJL8es. Therefore. the Educalion and Fundraising s¢0MMittee5 were combined. Whenever d¢¢isions needed to be made. jOiDt dectsions were agreed upon by all coDunitt¢¢ members. Sales Conunittc¢.' the objectives of this committee is to redu¢¢ production cosl and Increa sales Wget. Wtth the introduction of PTinl-on-dem8nd, the or8anization been able to reduce book stocks And minimize the effort required to distribute publicats¢)Iis. The 8tock level i8 also kept to a minimurn lo save printing and storage cos¢8. FuTMlraising.' The main ¢ask of this committe¢ is to assist the UKFCS in fundraising for projects and activities that benefit Chinese schools, pupils, and the wider community. Fundraising events are organized evwy y¢ar to generate ftmds for the runDing of various activities for member schools and to cover some ger&I ¢xpen5¢5 in the running of th¢ Federation. However, there were no fundraising events held this year due to the pandemic. Page 2
U K Federatlon of Chinese Sch(M)Is (A company limited by guarantee) Report of th¢ trustees (incorporating the dlrectors, report) for the year ended 31 December 2023 Education: The main tasks of this committee are to provide teaching materials for teachers to inwrove their eff¢ctivenes$ in teaching and develop imiovaiive practic¢s in the teaching and learnin8 of Chinese. In October. a free online GCSE & A-level ExanL8 workshop was held, h05ted by Professor Xuan Li, a very exp¢rienced teacher and examiner for both levels. Thig workshop w8s v¢ry popular. with OV¢T 75 registrations to attend and more than 95 joining the Zoom workshop. Other activities hosted by the UKFCS included Chines¢ Calligrapby Competition. Chinese New YeAr Card Desigtt Competition and Chines¢ Fai Chun Writing Comp¢tition. Most of OUT member schools participated in all the compeiitions. Public Examinations Research Group: This 8roup was forni¢d to look at any Chinese public examinations that would benefit pupils of ow member schools. The new v¢rsion of the GCSE guide for cxank8 has been printed and m8ny Cbin¢se School hAve ordered this GCSE revision 8uide. Membership fe continue lo play & vi1 role in helping to subsidise general expeDses in m&intainin8 the communication with our members. and to promote the UKFCS and our member $chools through our websiie. It was aced that therc would be no increaBe of membership f¢e8 for the year due to the p8ndemi¢. Secretariat.. Newsletters e PTI)duced three times a year to keep member8 infonned of the latest news and regular a¢tiviti¢s. Members and the public can ke¢p in louch with UKFCS activities via the webslte www.ukfrs.info. A new web page has been updaled in three langu&8es.' TrndAtionAI. Simplificl and En8li$h. E-New51¢tter5 are being 8ent oul to members to provide up-t041ate InforntiOn on the Gurren¢ actiNryties and affairs of UKFCS. MemberB and the public can kecp in tou¢h with UKFCS activities via the wcbsite. www.ukfcs.info. Publle beneflt statement The Exccutivc Committce mcmkn ¢onfirni that they have ¢ompli¢d with their duty to have due regard to the guidance on public bcnefit published by the Charity Commission in exercising their powers and duties. The public benefit of the ChaTitys Activities is Outlined under'main activities, above. There are Circa 55 member school8 SUPPOrted with the UKFCS in 2023, Throughout the year. UKFCS provides them with training, resources for I¢h1ng, workshops and annual conference for discussions and sharing of id¢a8 and expeTienccs. The Chinese Community are b¢in8 SUPPOrted in the t¢4ching of th¢ language and up ke¢pin8 of tradition. FlnaDclal revlew The Charity experienced a net surplus for th¢ Ye resultin8 an crease of unrestricted fijnds by £22,028 (2022 - £2,278 decrease), urrestricted fund$ increased from £145,966 to £167.994. The Clwity does not have any restricted fimd$. Rtsk managemenl The Executive Committee actively reviews the major risks f18 the Charity on a regular basis and believes that maintaining reseryes at a level not less than the current lev¢l, combined with an annual review of the contro15 over the key financi81 systems will provide resources in th¢ event of adverse conditions. The Executive Committee has also examined the other str&tegic and operntional problems a5s0ciat¢d with the CbaTity and its useTS 8nd ¢onfirn] that sys*m5 have been established to enable re reports to be made so that the nece&8ary step5 ¢an b¢ taken to millte the risks identified. Reservepolicy Page 3
U K Federatlon of Cbinese Sehools (A company limlted by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 December 2023 It is the policy of th¢ charity to mainlain unrestricted which are the free reserves of the cljarity, at # level which would provide sufficient funds to cover mhnagement. administration and support costs. StAtemeDt of trustees, respon8lbllltles The trustees (who are also director5 of U K Federation of Chinese Schools for the purpose of eompany law) are responsible for preparing the Tnlee8, Annual RepDrt and th¢ financial statements in ac¢ordance with applicable18w and United Kingdom Generally Accepted Accounting Pr3cti¢e. Company law requires the trustees to prepare financial statements for each financial year which 8ive a tsije and fair view of the state of affairs of the charitable company and of the in¢oming resources and application of resources, including the income and expenditure, of the charitable company for that period. En preparing these financial stst¢m¢nts, the trustees arc required to: select suitable accountin8 policies and apply them consistently. observe the methods and principles in the Charities SORP,. make judg¢ments and cstimAt¢$ that are reasonabl¢ and prudent. 8tale whether applicabl¢ UK Accountin8 Stsndards have been followed, Subject to any mA¢cri41 dartUreS disclosed and explv¢in¢d in the ftnancial ststements; prepare the fInCIal stst¢rnents on the going ¢oncern basis unles5 it is inappropriate to presume that the company will continue in busin¢ss. The tnte¢S att responsiblc for keeping proper 4c¢ounting record8 which dts¢lose with reasonable a¢euracy at any time the finan¢ial position of the charitsble company and which enable them to ensure that th¢ finAnctal s(atements comply with the Companies Act 2006. They are also responsible for s8fe8uardin8 the Jss¢Lq of the charitablc company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irreBularities. SmAll company provl8loDS This report has been prepAred in accordance with the Speci provisions for smdl ¢ompanies under Part 15 of the Companies Act 2(Ki6. This report was approved by the Board and $igned on its behalf by Ms. Chlng W Tre#$urer Anry Ll Date '. 24 September 2024 P•ge 4
U K Federatlon of Chinese Schools (A Company limited by guarantee) Independent examlner's report to the trustees on the unaudlted financlAI statements of U K Federation of Chinese Sehoolj ('the Company,). I report to the charity trustees on my ¢x8min&tion of accounts of U K Federation of Chinese Schools for the year ended 31 December 2023. Responslbllfitles and brdsls of report As the ¢lwity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the ar¢ounts ID accordance with the requirements of the Compatiies Act 2006 ('the 2006 Act,). Havin8 satisfied myself that the accounls 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 ¢haTity's accounts as caTried 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 th¢ 2011 Act. Independent examlner'j itatement I have completed my examination. I confirm thal no matt¢r8 have come to my attention in connection with the Cxamination giving me ¢ause to believe.. accounting records were not kept in respect of the Company as required by seclion 386 of the 2006 Act, or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accountin8 requiremenls of section 396 of the 2006 Act other than any r¢quir¢ment that the Ac¢ounts give a 'true and fair view whi¢h 18 not a matt¢r¢onsider¢d a8 part or an ftndependcnt examination: or 4. the accounts have not becn prepAred in accordance wilh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to ¢hariti¢s preparing their accounts in a¢cordance with the Finan¢ial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102)]. I hav¢ no Concen and have come across no oth¢r matters in connection with the examination to which attention should be drawn itt this report in order to enable a proper understsnding of Ibe accounts to be rearhed. Alan Tsang Chirtered Acc untant Independent examlner 8 Thamesdale London Coiney Herts., AL2 ITB 24 Septcmb¢r 2024 Page S
U K Federation of Chlnese Schools (A company Ilmlted by guarantee) Statement of financial aetlvltles (incorporating the Income And expendlture account) For the year ended 31 December 2023 Unr¢strlcied futtd$ 2023 Total 2022 Total Notes Income and endowments from: Charitable activtties Investment in¢ome 28.946 1.055 28,946 1,055 24,498 112 Total Income ADd endowments 30.001 30,001 24,610 EendItUre on: Chorilable activliles.. Openin8 Stock Purchases Closing Stock Accountancy fc¢8 Sundry and promotional Other office expenses Inlcrcsl paymble and similar charges Donations Cultur41 & Recreational cxpenses Executive committee expenses Support- Other costs 8,(K17 8,007 18.566 18,566 (22,459) (22,459) 51)0 500 80 80 1.429 1,429 66 66 100 100 120 120 1.189 1,189 375 375 19,420 13,019 (8,007) 500 50 168 68 690 980 Total expendlture 7,973 7,973 26,888 Net Incomel(expendAture) for the year 22,028 22,028 (2,278) Reconelllatlon of funds: Total funds brought forward 145,966 145,966 148,244 Total funds carrled forward 167,994 167,994 145,966 Th¢ Statement of financial aetivities includes &118ains and losses in the year and therefore a separnte statement of total recognised gains and losses has not been prepared. Ail of the above amounts relate to rontinuing a¢tivitie$. The notes on pageB 9 to 13 form an Ini¢grl PArt of these flDncl41 st*tement& Page 6
U K Federation of Chinese Sehools (A company limited by guarantee) Balance sheet as at 31 December 2023 2023 2022 Notes Current assets Stocks Debtors Cash at bank and in hand 22,459 8,007 346 159.157 167.043 189,502 167,510 Credltors: Amounts falllDg due wlthln one year (i.(M)O) (1.036) Net current #ets 188,502 166,474 Total aJ$ets less current Ilibllltles Credltors: amouDts falllng due after more than one yeAr 188,502 166,474 (20,508) (20.508) Net aJset$ 167.994 l45,966 Charlty Funds UnTC$tri¢t¢d Income fimds 167.994 145.966 Total ch*rlty fundl 167,994 145,966 The Balance Shcel continues on the following pag¢. The notej on pages 9 to 13 form Integral part ofth¢%e IlnanelAI statements. Page 7
U K Federatlon of Chinese Schools (A company limited by guarantee) Balance sheet (continued) Trustees statements requlred by the Companies Aet 21)06 for the year ended 31 December 2023 In approving thes¢ fmancial statements a8 trustces of the chlty and directors of the company we hereby confirni.. (a) that for the year stat¢d above the company was entitled to the exemption confeTred by section 477 of the Companies Act 2006 . (b) that no noti¢¢ has been deposited at the reglstered officc of th¢ company pursuant to section 476 of th¢ Companies Act 2006 requesting that an I111 be conducted for the y¢ar ended 31 December 2023. (c) that we acknowledBe our r¢spoL8ibilities for. (l) ensuring that the CoMpY keeps proper accounling re¢ords which comply with section 386 of the Conwhnies A¢t 2006, and (2) preparing financial Statents which give 8 true And fair view of the stste of affairs of the company as at the end of the financial year and of its profil or loss for the year Ih¢n ended in accordance with th¢ r¢quirements of sections 394 and 395. and which othen¥ise comply with th¢ provisions of the Compani¢$ A¢t rel&ting to financial 51at¢ments, so far as applicable to the Company. These financial staiements are prepared in accordance with the 8pe¢ial provtsions of Part 15 of th¢ Companies Act 2006 relating to sm811 companies . The finan¢ial statements were approved by the board and si8ned on its behalf by MJ. Wal Yln Chung Chan Pregldent Date .' 24 September 2024 The notej on Pa% 9 to 13 form an Integral part of the flnanclal st*tement& PAge 8
U K Federatfion of ChlDese Schools (A company limited by guarantee) Notes to Ilnancial 8tAtements for the year ended 31 December 2023 AecouDting polieies UK Federation of Chinese Schools is a giStered ¢harity and company limited by 8uaT8nt¢¢ with no Share capital. The liability of members in the event of insolvent liquidation is lirnited to £1 each. The Charitys governing document is its Memorandum and Articles of Association incorporated 23 January 1996. as amended by 8pecial resolution on 13 Febnwy 1997. The address of the registered office is 8 Thamesdale, London Colney, St Alhn5. Hertfordshire AL2 ITB. 1.1. Ac¢ountlng pollciej The principal accounting poli¢i¢s adopted, judgemefits and key sources of estimation wiccrtaiDty in the preparation of the f181 ststenrnts are as follows.. The fu}11 $tatemeots are pr¢p8r¢d in sterling. which 18 the futional ¢urren¢y ofthe entity. 1.2. Bajlc of Aeeounthig Bajls of prepar8tlon The finan¢i81 statements are prepared in accordance with A¢counting and reportin8 by Charities: Statement of ROrnMended Practice applicable lo charities preparing their account5 in accordance with the Finan¢ial Reporting StaDd8rd applicable in the UK and Republic of Ir¢land (FRS 102) {effectivc l January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable ID the United Kingdom and Republi¢ of Ireland {FRS 102), the Comphnies A¢t 2006 and UK Generally A¢¢epted Accounting Praeti¢¢. U K Federation of Chinese Schools meets the d¢finition of A public benefit entity urKler FRS 102. As$¢ts and liabilities are initially reco8wBed at hi$tOriC81 cost or tran58¢tion value unless othcrwise 8tht¢d in the relevant accounting policy notcs. IJ. CAshllow The charity has applied Update Bulletin l 88 published on 2 February 2016 and doe8 not includc Pd Cash flow statemeni on the grounds that it is applying FRS 102 Section IA. 1.4. Fund aeeountlng G¢nerAI income funds 8re unrestricted fimds lIch are available for use at the discretion of the Trustres in furtherance of the general objects of the Charity and which have not been designated for other purposes. The cost of rnisitig and administering such funds are char8ed against the specific fimd. Page 9
U K Federatlon of Chlnese Schools (A company limited by guarantee) otes to financial statements for the year ended 31 December 2023 1.5. Incoming resources All incoming resources are included in th¢ Statement of Financial Activities (SOFA) wh¢n the cl)arity 18 legally cntitl¢d to the income aft¢r any perfornwice conditions have b¢¢n met. the arnoLt can be rneas r¢liably and it is probable that the income will be receiv. The following specific policies are applied to particular categories of incow¢: Donations arc recognised in the period in which they are re¢eived. No amowit is included in the financial stslcmcnts for volunteer time in line with the SORP (FRS 102). Further detail is given in the Truslces, Annual Report. Income from charitable activities is in¢lud¢d An the year in which il is receivabl¢. Income from investments is included in the Ye in which it is reccivable. Income from investments is included ID the year ID which it 15 receivable. 1.6. Expendlture All exp¢nditure is accowit¢d for on an accruals b&sis and h88 been classified under headings that a88re8ate 011 cost$ related to the ¢ategory. Expenditure is r¢cop)ised where there is a legal or ¢onstructive oblig&tion to mak¢ payments to third partles, it is probable that the settlement will be required and the amouni of the obligation can bc measured reliftbly. Iffecoverable VAT 18 charged against the category of resources expended for which it in¢urred. Expenditure on raisin8 fimds comprise the costs associated with Attr178 voluntary income and the ¢o$ts of trading for fimdrai8ing purposcs including the charitys shop. Exp¢nditte on ch8ritable activities compris¢s those costs incurred by the charity An the delivery of its activities and servicc$ for its benefici8rics. It includes both costs that ¢&n be allocated directly to such a¢tivities and thosc cosi$ of an indirect nature necessary to support th¢m. Other expenditures are those costs incurred directly in support of expenditure on the objects of the chan'ty and include Executive Committee costs. 1.7. Stock Stock is v8lued at the lower of cost and net realis4ble value. 1.8. Debtors Trade and other debtors are reco8ni$¢d at the settlement amount due after any trade discount offered. Prepayments ar¢ valued at the amount prepaid net of any trade discounts due 1.9. Cash at bank and in hand Cash ai bank and cash in hand includes cash and short leTm highly liquid investments with a short maturity of thr¢¢ months or less from the date of aqui51tion or openin8 of the deposit or similar account. P4ge 10
U K Federation of Chlnese Schools (A company limited by guarantee) Notes to flnanclal statements for the year ended 31 December 2023 1.10. Credfitors aDd provlsions Creditors and provisions are recognised where the charity bas 8 present obligation resulting from a past event that will prob&bly resuRt in the tTansf¢T of fid8 to a third paty and the amount du¢ to settle the obligation can be measured or e8timaied reliably. Creditors and provisions are nonDally recognised at their settlement amount after allowing for uoy trade discounts due. 1.11. FIDAnclal Instruments The trusl only has financial assets and fu1¢11 li&bilitie$ of a kind that qualify basic financial instruments. Basic financial instruments 8r¢ initially recognised at transBction valu¢ and subsequently measurd ai their settlement value with the ¢xception of bank loans whi¢h are subsequently measured al amortis¢d ¢08t using the effective interest metho Expendlture on ehArltable ietlvltlej UJre$trleted funds 2023 Total 2022 Total Sale of books Mcmbership fees 28,251 695 28,251 695 23,323 1.175 28,946 28,946 24.498 IDveJtment Income Unre•trleted fund8 2023 Tot 2022 Total Bank interest Teceivjble 1,055 1.055 1.055 1,055 112 Employeej Employment costs No sdAri¢$ or w&8es hav¢ been paid to employ¢¢s, including the tru8¢c¢s, during the year. Iyumber of employees The aveTa8e monthly numbers of employees (including the trustees) during the y¢ar, calculated on the basis of full time equivalents. Wa5 as follow8". 2023 Numlxr 2022 Number Page 11
U K Federation of Chlnese Schools (A company limited by guarantee) Notes to flnancial statements for the year ended 31 December 2023 TaxAtlon The ch&rity is an exempt charity within the meaninB of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finan¢¢ Act 2010 and therefore it meets the definition of ¢haritable tpally for UK Coration tax puryJos¢$. Debtors 2023 2022 Other debtors 346 Credltor8: amounts falllng due wltbln one ye•r 2023 2022 A¢¢nlS and deferred income 1.000 1,036 Credltors: amounts falllng due after more thAn one year 2023 2022 Othcr low 20.508 20,508 There 1$ no intcre8t py4ble and no fixed Tyyment dat¢ for the other loan8. Analy$l$ of net issets between funds Unrestrf¢ted fllndi Tot¥Jl funds Fund balances at 31 December 2023 as represented by. Current assets Current liabilities Lon8-terni liabilities 189.502 (1,000) (20.308) 189,502 (1.} (20,508) 167,994 167,994 P•ge 12
U K Federation of Chlnese Schools (A company limited by guarantee) Notes to finanelal statements for the year ended 31 December 2023 10. Unrestrleted fuDdJ At l Janu#ry Ioeomlng OutgolDg 31 Dttember 2023 resources resoure 2023 At General fimd 145,966 30,001 (7.973) 167,994 ii. Company Ilmlted by guarantee U K Fcderation of Chinc5e Schools 18 a company limited by guar8nt¢e And accordingly docs not hav¢ a sbAr¢ apital. Every member of the company undertakes to contribute such amount as mY¢y be required not exceedins £1 to ihe assets of the charitsble company in the event of its being wound up while he or she is a memb¢r. or within one year after he or She ceases to b¢ a member. Pvdge 13
U K Federation of Chlnese sch(ls (A company Ilmited by guarantee) The following pages do not form part of the statstory accounts.
U K Federation of Chinese Schools (A company Ilmlted by guarantee) Detailed statement of finaneial actlvltles For the year ended 31 December 2023 2023 2022 Incoming resources Incomlng re8ouree8 from generAtlnE funds: Chfjrilable actiwties Sale of b(M)ks Membership fees 28,251 695 23,323 1,175 28,946 24,498 Investment income Bank interest receivable 1.055 Il2 Total Incomlng resour¢es from geDerathig fund$ 30.(M)I 24.610 Total In¢omlng resources 30,001 24.610 Resourc expended Costs of generatlng funds; Cost of generatlng voluntAry Ineome Donations Donations Sale oftexi bookr Opening Stock Book printin& delivery & stor88¢ Closing sto¢k Website and computer costs Sundry and promotional 8.007 18,565 (22,459) 1,300 80 19,420 13,019 (8.007) 50 5.493 24,482 Other acilvliles Cultural & Recreational expenses 120 690 120 690 Total cost of geDeratlng voluntary Income Other voluntary a¢tlvAtlei Cost of voluDtAry actmtles and otber cojts Fundraming events Executive con)mitt¢e expenses 5.713 25.172 1.189 980 1.189 980 Total fundrafislngg voluntiry and otber costs .189 980 Total costs of generAtlng fund$ 6.902 26.152 Page 15
U K Federation of Chinese Schools (A Company limlted by guarantee) Detalled statement of fmancial activities For the year ended 31 December 2023 2023 2022 Cbgrltable aetlvltles Governfdnce ¢osts Activtlies undertaken direcily Profes5ion81- Accountancy fees oirice expeD8e8- Stationery and postag¢ Bank charges 500 129 66 500 168 68 695 736 Support costs Support- Other ¢o$ts 375 375 Total governaD¢e eosts 1,070 736 et In¢omlng resourcej for the year 22.028 (2.278) Page 16