**REGISTERED COMPANY NUMBER: 03409935 (England and Wales) REGISTERED CHARITY NUMBER: 1063609**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FOR**
## **THE RUNNYMEDE TRUST**
DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG
**THE RUNNYMEDE TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
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Page
Foreword 1
Report of the Trustees 2 to 9
Report of the Independent Auditors 10 to 12
Statement of Financial Activities 13
Statement of Financial Position 14
Statement of Cash Flows 15
Notes to the Statement of Cash Flows 16
Notes to the Financial Statements 17 to 24
Detailed Statement of Financial Activities 25 to 26
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**THE RUNNYMEDE TRUST**
## **FOREWORD FOR THE YEAR ENDED 31 DECEMBER 2021**
In introducing this year's Trustees Report, we note that 2021 was our most challenging of years, despite being in the middle of the COVID-19 pandemic and having somewhat adjusted to the new ways of working and living since 2019, but also one of our most successful in the growth of our organisation, reputation and impact.
Much has changed since 2020 when we began to shift and align our efforts behind the pandemic but also around the growing sense of anxiety around the nature of public debate and engagement on 'race' and racial justice following the groundswell of concern after Black Lives Matter in 2020.
By common consent it is believed that Runnymede has undertaken invaluable work and brought a leadership role to understanding race and anti-racism in 2021, leading and convening the national conversation on racial justice. Consequently, 2021 was an instrumental year in moving Runnymede's reputation and impact squarely to the national stage.
We were instrumental in bringing a unique and critical perspective that is urgently needed in public debate on racial injustice and disparities following the widespread disappointment with the independent Commission on Race and Ethnic Disparities in April 2021.
It has been a challenging external environment for Runnymede and other charities, where we have felt, with wider civil society, that we are operating in a difficult and at times hostile environment.
We had to find a way to defend against vexatious attacks on our charitable work, which has been hard going on our staff, our Trustees and our followers, who stood by us, but were dismayed by the pressures forced onto our work.
As an organisation which has been a fixture of the UK's race agenda throughout the social and economic changes of the 20th and 21st centuries, we have done our level best to be of most value to all our communities through these times, as we have always strived to do. The resilience of our team and long-term friends as they continued to be there for all our communities, whilst dealing with all the disruption and challenges that the pandemic caused to their own lives, has been tremendous and inspiring.
I also want to extend my deepest thanks to all our friends and funders for stepping up to support Runnymede in a public and prominent way when we found ourselves leading the national dialogue on the urgency of racial inequalities, and efforts to end racism in all its shapes and forms.
On the positive side, after a year of welcoming our new CEO and with her growth and expansion of the organisation, we have ushered our growth towards a medium-sized organisation which is where we wish to remain for the medium-term future. We have welcomed new talent and capability in Runnymede, and look forward to seeing the fruits of this investment in future years. We've been grateful for the insights, passion and experience of all our staff who bring their full authentic selves to work and give their best to the organisation and the cause we serve.
We remain supported by an excellent and dedicated Board of Trustees whose expertise, dedication and organisational knowledge remain a steady pillar of support to our staff, and the organisation's future as a whole.
Thank you for all your support, I very much look forward to the next period in Runnymede's history.
Sir Clive Jones, CBE, Chair of Runnymede Trust
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**THE RUNNYMEDE TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **Introduction**
The trustees present our statutory report together with the financial statements of The Runnymede Trust (Runnymede) for the year ended 31st December 2021. The report, which constitutes a trustees' report for the purposes of charity law and a directors' report for the purposes of company law, has been prepared in accordance with Part 8 of the Charities Act 2011.
The financial statements have been prepared in accordance with the accounting policies set out on pages 17 and 18 of the attached financial statements and comply with the charitable company's Memorandum and Articles of Association, applicable laws and Accounting and Reporting by Charities:Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 01 Januray 2019) and applicable law (United Kingdom Generally Accepted Accounting Practice) .
## **OBJECTIVES AND ACTIVITIES**
## **Objects and aims**
Runnymede is a registered charity, No. 1063609. Runnymede is a company limited by guarantee, registered in England, No. 3409935.
Our objectives are set out in our Articles of Association and, as of December 31st 2021 are:
The charity's objects are the promotion by teaching, lecturing or otherwise for the benefit of the public of:
1. Studies in political, economic, social and natural sciences, the humanities and other subjects or disciplines suitable for education; and
2. The study and dissemination of knowledge of problems connected with ethnic, religious, racial, national and other similar groups in England, or elsewhere and their effect on their environment
In 2021 Runnymede interpreted these objects as:
Runnymede is a social policy research organisation focused on race equality and race relations. We work by:
* Identifying challenges to and solutions for race equality and good race relations,
- Enabling effective action for social change,
- Influencing policy at all levels through providing thought leadership and robust evidence,
- Taking a more proactive approach to public engagement to translate research outcomes into impact.
Despite significant changes in the operating environment and policy landscape of 2021, and the recruitment of new staff during 2021, our strategic objectives remained consistent and in line with our objects. Runnymede remains the UK's leading independent race equality think tank. We generate intelligence for a multi-ethnic Britain through research, network building, leading debate, and policy engagement. Runnymede is working to build a Britain in which all citizens and communities feel valued, enjoy equal opportunities, lead fulfilling lives, and share a common sense of belonging.
In order to effectively overcome racial inequality in our society, we believe that our democratic dialogue, policy, and practice, should all be based on reliable evidence from rigorous research and thorough analysis.Our authoritative research-based interventions in social policy and practice, and our public engagement with decision-makers, will assist policy-makers, practitioners, and citizens, to reduce the risk of our society being blighted by racism and discrimination to the detriment of us all.
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**THE RUNNYMEDE TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Principal Activities, Achievements and Performance**
Our greatest achievement in 2021 has been in our organisational resilience and building a sustainable future for the organisation. By the end of 2021 we had transformed the charity from a small-size organisation into a medium sized organisation in terms of size, impact, advocacy, influence, partnerships and projects.
Externally, we underwent a step change to be even more active as an influential organisation within the UK's policy arena.
## **Research outputs**
Our research outputs covered a range of topics including the ethnic and social dimensions of gentrification in London, broadening the curriculum for the teaching of English Literature in schools, how change and movements take shape, and strategic communications on reframing race. We also kick-started some major partnerships on music, the visual arts, the cost of living crisis and climate and racial justice. Via our highly visible media and public engagement work, we went on to directly influence the Joint Vaccination and Immunisation Committee to increasingly consider ethnicity and 'deprivation' in addition to age as a risk factor in rolling out vaccines to priority groups in 2021.
## **Policy engagement**
Runnymede continued to engage directly with parliament and parliamentarians. Into our 10th year, we continue to act as the Secretariat for the All-Party Parliamentary Group (APPG) on Race and Community. Beyond the APPG we were active on several Select Committee Hearings, including those on education and human rights. We also continued to engage more directly with government officials across a range of departments and issues from schools to the labour market and prisons. We also provided national leadership to the responses to the findings of the Independent Commission on Ethnic and racial Disparities.
In summer 2021, we completed a civil society submission to the UN Committee on the Elimination of Racial Discrimination on race and racism in England. Our partnership with Penguin Random House through our published report on diversity in the English literature curriculum led to changes in the UK examination bodies to address the teaching of English literature in secondary schools. We also supported engagement in schools with exam bodies and the education bodies. This outreach is part of our efforts to ensure wider groups can benefit from our research and be used effectively to change and improve practice and policy.
Our leadership team occupy a number of influential leadership spaces with their respective expertise in racial justice and public policy, for example our CEO is serving as a member of the ONS Inclusive Data Taskforce, the Bennett Review of the UK Constitution, ITV's Cultural Diversity Board, and the NHS Race and Health Observatory. Our research and policy staff team are also sitting on relevant policy forums on racial justice, demonstrating the breadth and depth of our expertise within the organisation.
We continued to work with social justice, human rights and migrant rights organisations to address both continued and emerging risks in the legislative arena in race, immigration policy and practice.
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**THE RUNNYMEDE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Our Team**
Our team has proved incredibly dedicated in delivering and shaping a broad and vital range of work on racial equity and justice in an intensely challenging period.
We also continued our work to re-orient our operations and finances to be more balanced to avoid being dependent on one kind of partnership or source of income.
We also started to review and assess the transaction costs on Runnymede to deliver small scale research and the value and impact of small pieces of work versus larger projects with higher impact, and carrying less administrative burdens on our staff team.
As a result, we remain focused on building our capacity, core staff, systems and operations - previously a real source of concern at Runnymede. We managed to build a strong, committed, fulfilled and inclusive team by the end of 2021. We now have distinctive functions and teams in research, policy, community engagement, communications and operations, and an emerging functional leadership team. All of our staff were involved in our operations and development process, enjoying and responding well to the challenge of shaping the future for Runnymede.
Runnymede has always had a strong focus on diversity and inclusion. We are now home to an even more diverse staff group and potentially one of the few BME/female-led organisations in the think-tank space. Needless to say, we will continue to engage as widely as we can and live our values of inclusion and equity, in particular by connecting and working with BME and working class networks on the ground.
## **Public Benefit**
Our Trustees have paid due regard to the guidance on public benefit produced by the Charities Commission, and are confident that the work of the charity meets all the criteria for public benefit.
We are satisfied that we undertake all of our work within our charitable objectives and the public benefit requirement as defined in Section 17 of the Charities Act 2011.
## **STRATEGIC REPORT**
## **Financial Review**
The financial review for 2021, as set out in the summary of funds for the year ending on 31st December 2021, shows a net increase of funds of over £372,159 at the year end. This is reflected in an end of year balance of £1,426.974 for the organisation's cash at bank and in hand funds going into 2022. Runnymede's cash position has improved by over 34% over the course of 2021.
Of the total income from 2021, approximately 54% represents unrestricted funds, which further demonstrates the confidence of grant giving organisations and the general public have in the impact that Runnymede had been making over the past 24 months.
Over the course of 2021, Runnymede has not required any use of the reserve fund of approximately £80,000 which is held in a separate account.
## **Reserves Policy**
Our reserves policy is to hold unrestricted funds equivalent to the value of three month's core expenditure. In December 2021 these funds stood at £79,251, based on the budgeted average monthly core expenditure for 2021 (£22,426).
As expenditure rises we will notionally adjust for the increase by transferring some of our unrestricted surplus to the reserve account. This will also reflect the value of three month's total expenditure, including restricted project funding. Due to the success of increased income towards the end of the year and in 2021, this will be a transfer we can make comfortably.
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**THE RUNNYMEDE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **STRATEGIC REPORT**
## **Looking to the Future**
Despite the uncertainty and doubts around the economy and public health nationally, we are ever more confident about our effectiveness and sustainability in the years ahead.
There have been many challenges to Runnymede's sustainability in the past, like other charities. In surviving these challenges, we have adapted well, shown our resilience and ensured that Runnymede is recognised as an authority on racial justice, leading the national conversation and dialogue.
The last 12 months have demonstrated how critical and valuable our work is to wider society, and the support we have received from a range of funders provides us with the confidence that we will be able to continue building on the achievements of the past year. The shape of things to come in the future are incredibly promising for Runnymede and we headed into 2022 with renewed energy, excitement and optimism for our mission and core values.
Our upcoming plans in 2022 include the following:
> Delivering impactful research and policy engagement on key areas of racial justice including workstreams on environmental and racial justice, the arts, education, and the cost of living crisis.
> Convening a summit focussed on migrant rights and race equality to bring together a diverse group of organisations to share learning and build networks.
> Further developing our organisational sustainability by continuing to diversify our income, building impactful and long-lasting partnerships and digital transformation activities to improve our operational efficiency.
> Refreshing our website, brand and communications activities including a renewed focus on digital engagement, to ensure that our work is communicated effectively across our core audiences.
> A second year of our successful "Unbound" traineeship, aimed at deliberately developing diverse talent for our sector and policy/research professions, alongside thinking strategically about our recruitment and development activities for the team as a whole.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is constituted as a company limited by guarantee and is governed by a Memorandum and articles of Association.
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**THE RUNNYMEDE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Board of Trustees**
The Board of Trustees formally determines, in compliance with Charity Commission rules, matters such as disposal or acquisition of property, and approves the key operating policies of the charity. The Board is also responsible for the overall risk policy and for assessing the adequacy of the risk mitigation plans. Trustees give their time voluntarily and receive no personal benefit from Runnymede.
The Board approves the strategic and operational plans for Runnymede, including the annual budget, and monitors progress for each of these throughout the year by receiving bi-monthly reports from the Chief Executive summarising performance.
While the Board normally meets formally at least six times per year, during 2021 they were called upon on several occasions in order to help us keep as close an eye as possible on managing our organisational risk as we faced external challenges. The executive team is hugely grateful for this level of support and commitment.
## **Committees**
In addition to the Board meetings, trustees carry out their responsibilities through the Treasurer and Chair roles in relation to financial issues.
At the moment Runnymede does not have any committees, though with the growth of the organisation and our finances, we plan to set up both a finance and risk subcommittee and a governance subcommittee in early 2022.
## **Executive Team**
Trustees delegate the day-to-day management of Runnymede to the Chief Executive, Halima Begum.
## **Organisational Structure**
The day-to -day running of the organisation is delegated to staff under the leadership of the Chief Executive.
The Chief Executive develops Runnymede's operating plans and budgets, both of which are approved and then monitored by the Trustees. Our current strategic plan takes us 5 years from 2020, however given the changes since 2020 in both our external context and internal operations, we aim to review and refresh our strategic plan in the year ahead.
The Chief Executive reports on organisational performance against strategic objectives at each Board meeting. This enables trustees to monitor and evaluate performance regularly.
## **Induction and training of new Trustees and succession planning**
The Trustees have the power to appoint any person who is able and willing to do so to be a Trustee. Trustees are given an in-depth introduction to the organisation and the role of Trustee through meetings with other Trustees (including the Chair) and in meetings with staff (including the Chief Executive). New Trustees are also given reference information including key policies of the organisation, recent research output, meeting minutes and annual reports.
During 2020 our Chair expressed an interest to move onto new pastures, reflecting his long tenure at the Runnymede Trust. Whilst a succession plan is in place, we preferred to keep the Chair in post during the new CEO's first year for continuity, however the Trustees aim to recruit a new Chair and further Trustees in 2022.
## **Management of Risk**
We developed a more comprehensive Risk Register and risk management strategy following Covid-19 and the rising demand on our work in 2020.
The risk management strategy comprises:
***** A quarterly and annual review of the major risks to which Runnymede is exposed
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**THE RUNNYMEDE TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
***** The establishment of systems and procedures to mitigate those risks
***** The implementation of procedures designed to minimise any potential impact on Runnymede should any of those risks materialise
While overall accountability rests with the Trustees, our aim is to create a culture of effective risk management and mitigation throughout the organisation through regular reviews, training and implementation of key policies. The risk management process covers both short and long-term risks and in particular concerns Runnymede's financial sustainability, reputation and ability to achieve impact.
The Trustees confirm that they are satisfied that strategies, systems and controls are, as far as possible, in place to mitigate significant risks, including those presented by the coronavirus pandemic.
Some of the risks Runnymede faces are 'generic' in the sense that they might apply to any charity - though of course we look at them through a lens which is particular to our own operations and considerations. In addition, there are also risks which are distinctive to our particular circumstances and operating model. Thirdly, as would be expected, we have had to rapidly review and manage a set of quite specific risks with regard to the Covid-19 pandemic and its impact on us, our team and the people we work with. Finally, in 2021 we actively managed any possible risks as our dialogue on race became more and more politicised; strengthening our awareness and guidelines on political impartiality and social media.
## **Transparency**
Due to the pay thresholds of its CEO's pay (the highest paid officer in the organisation), Runnymede has not had to publicly report on Runnymede's wage differentials or disclose the pay of our CEO on our website.
As a leading equalities charity and now an accredited London Living Wage employer (obtained in 2021) we are particularly pleased to report that we perform well against the sector benchmark on wage differentials on staff pay, with the exception of senior staff. This has partly been the result of a lack of funding in the past, and not in any way, reflecting the appreciation for the skills set and complex leadership demonstrated by Runnymede's senior staff.
## **Trustees/Directors Indemnity Insurance**
Runnymede provides insurance to its trustees against liability in respect of action brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity insurance remains in force as of the date of approving the trustees' annual report.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
03409935 (England and Wales)
## **Registered Charity number**
1063609
## **Registered office**
Bk 207, Brickfields 37 Cremer Street London E2 8HD
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**THE RUNNYMEDE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
**Trustees** Dr J Arday H Harrison-Graham Sir C Jones - Chair F Tasnim - Treasurer H Zahir M Goodfellow F Elahi Professor I Solanke Dr O H Khan Ms L Cheung
## **Auditors**
DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG
## **Solicitors**
Womble, Bond, Dickinson, 4 More London Riverside, London, UK SE1 2AU
## **Bankers**
CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
## **Insurers**
Zurich, The Zurich Centre, 3000 Parkway, Whiteley, Fareham, Hampshire PO15 7JZ.
## **TRUSTEES' RESPONSIBILITY STATEMENT**
The trustees (who are also the directors of The Runnymede Trust for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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**THE RUNNYMEDE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **TRUSTEES' RESPONSIBILITY STATEMENT - continued**
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2020 was 9 (2021). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
## **AUDITORS**
The auditors, DSK Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 21st October 2021
........................................................................ Sir C Jones - Trustee
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE RUNNYMEDE TRUST**
## **Opinion**
We have audited the financial statements of The Runnymede Trust (the 'charitable company') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE RUNNYMEDE TRUST**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
o Using our general commercial and sector experience and through discussions with the directors and management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either as a result of fraud or error.
o We examined the company's regulatory and legal correspondence and discussed with the directors and management any known or suspected instances of fraud or non-compliance with laws and regulations.
o We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
o In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion."
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE RUNNYMEDE TRUST**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Romit Basu FCA (Senior Statutory Auditor) for and on behalf of DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG Date: .............................................
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**THE RUNNYMEDE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
Activities for generating funds
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Activities for generating funds
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
233,241
384,909
312
618,462
456,242
162,220
945,089
1,107,309|Restricted
funds
£
69,204
455,422
2,000
526,626
316,687
209,939
185,746
395,685|2021
Total
funds
£
302,445
840,331
2,312
1,145,088
772,929
372,159
1,130,835
1,502,994|2020
Total
funds
£
750,744
590,519
740
1,342,003
448,566
893,437
237,398
1,130,835|
|---|---|---|---|---|
The notes form part of these financial statements
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**THE RUNNYMEDE TRUST**
## **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2021**
|Notes
**FIXED ASSETS**
Intangible assets
9
Tangible assets
10
**CURRENT ASSETS**
Debtors
11
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
4,890
8,002
12,892
161,081
1,031,288
1,192,369
(97,952)
1,094,417
1,107,309
1,107,309|Restricted
funds
£
-
-
-
-
395,685
395,685
-
395,685
395,685
395,685|2021
Total
funds
£
4,890
8,002
12,892
161,081
1,426,973
1,588,054
(97,952)
1,490,102
1,502,994
1,502,994
1,107,309
395,685
1,502,994|2020
Total
funds
£
-
10,016
10,016
59,840
1,084,772
1,144,612
(23,793)
1,120,819
1,130,835
1,130,835
945,089
185,746
1,130,835|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C Jones - Trustee
The notes form part of these financial statements
Page 14
**THE RUNNYMEDE TRUST**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2021
£
347,536
347,536
(5,335)
-
(5,335)
342,201
1,084,772
1,426,973|2020
£
914,877
914,877
-
(2,185)
(2,185)
912,692
172,080
1,084,772|
|---|---|---|
The notes form part of these financial statements
Page 15
**THE RUNNYMEDE TRUST**
## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021**
|**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**
**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors|**OPERATING ACTIVITIES**
2021
2020
£
£
372,159
893,437
2,459
2,079
(101,241)
52,844
74,159
(33,483)|
|---|---|
|**Net cash provided by operations**|347,536
914,877|
|2.
**ANALYSIS OF CHANGES IN NET FUNDS**
At 1.1.21
£
**Net cash**
Cash at bank and in hand
1,084,772|Cash flow
At 31.12.21
£
£
342,201
1,426,973|
|1,084,772|342,201
1,426,973|
|**Total**
1,084,772|342,201
1,426,973|
The notes form part of these financial statements
Page 16
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. ACCOUNTING POLICIES**
## **BASIS OF PREPARING THE FINANCIAL STATEMENTS**
The financial statements of the charitable company, which is a 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 Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements in the Pound Sterling (£) rounded to the nearest Pound.
## **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.
## **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 consistent with the use of resources.
## **TANGIBLE FIXED ASSETS**
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates
Plant and Machinery - 20% reducing balance Fixtures and Fittings - 20% reducing balance Computer Equipment - 20% reducing balance
Assets held under finance leases are depreciated in the same way as owned assets.
At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
## **TAXATION**
The charity is exempt from corporation tax on its charitable activities.
## **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 of each fund is included in the notes to the financial statements.
continued...
Page 17
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. ACCOUNTING POLICIES - continued**
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
|**2.**
**DONATIONS AND LEGACIES**
Donations
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Activities for generating funds
Consultancy and lecturing
Activities for generating funds
**4.**
**CHARITABLE ACTIVITIES COSTS**
Activities for generating funds
**5.**
**SUPPORT COSTS**
Activities for generating funds
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets
Computer software amortisation|Direct
Costs
£
766,619|2021
2020
£
£
302,445
750,744
2021
2020
£
£
720,144
526,026
120,187
64,493
840,331
590,519
Support
costs (see
note 5)
Totals
£
£
6,310
772,929
Governance
costs
£
6,310
2021
2020
£
£
2,800
2,700
2,014
2,079
445
-|
|---|---|---|
continued...
Page 18
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
During the year, a trustee was paid £Nil (2020: £Nil) in relation to consultancy services.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **8. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees
One employee is in excess of £60,000. See the chief executive breakdown below.
Included in staff costs is the remuneration of the Chief Executive Officer:||2021
£
410,112
31,791
8,200
450,103
2021
14||2020
£
196,441
14,815
4,065
215,321
2020
8|
|---|---|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2021
£
60,368
7,062
1,831
69,261|2020
£
60,338
7,018
1,613
68,969|
|---|---|---|
**9. INTANGIBLE FIXED ASSETS**
|**INTANGIBLE FIXED ASSETS**||
|---|---|
|**COST**
Additions|Computer
software
£
5,335|
|**AMORTISATION**
Charge for year|445|
|**NET BOOK VALUE**
At 31 December 2021|4,890|
|At 31 December 2020|-|
continued...
Page 19
**THE RUNNYMEDE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
|**10.**
**TANGIBLE FIXED ASSETS**
Fixtures
Plant and
and
machinery
fittings
£
£
**COST**
At 1 January 2021 and 31 December 2021
10,764
5,389
**DEPRECIATION**
At 1 January 2021
8,671
4,027
Charge for year
429
273
At 31 December 2021
9,100
4,300
**NET BOOK VALUE**
At 31 December 2021
1,664
1,089
At 31 December 2020
2,093
1,362
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Accruals and deferred income|Computer
equipment
£
17,891
11,330
1,312
12,642
5,249
6,561
2021
£
26,044
7,271
127,766
161,081
2021
£
3,477
11,443
83,032
97,952||Totals
£
34,044
24,028
2,014
26,042
8,002
10,016
2020
£
18,807
7,671
33,362
59,840
2020
£
2,937
1,487
19,369
23,793|
|---|---|---|---|
## **13. LEASING AGREEMENTS**
|Minimum lease payments under cancellable operating leases fall due as follows:|Minimum lease payments under cancellable operating leases fall due as follows:||
|---|---|---|
||**2021**
**£**|**2020**
**£**
15,581
35,017
50,598|
||||
|Within one year
Between one and five years|26,640
8,377
35,017||
continued...
Page 20
**THE RUNNYMEDE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General Fund
**Restricted funds**
JRT Poverty
Runnymede Unbound
Common Cause
Policy
OMS/AHRC
Race & Class
Strategic Communication
Fawcett BME
Banglatown
Lit in Colour
ICM
LEEDS
Strategic Comms Public
Unassigned
Race & Class 2
Black & Veatch
Freelands
Greenpeace
Sony
CAF resilience
Vanguard
**TOTAL FUNDS**|At 1.1.21
£
945,089
3,895
90,000
11,092
(19,579)
(750)
12,730
94,563
15,000
1,237
21,860
20,000
2,184
(59,530)
1,044
(8,000)
-
-
-
-
-
-
185,746
1,130,835|Net
movement
in funds
£
162,220
(3,895)
10,784
(11,092)
19,579
750
(12,730)
(94,563)
(10,312)
(1,237)
(21,860)
(20,000)
(2,184)
59,530
(1,044)
8,000
3,561
33,786
6,118
86,746
115,038
44,964
209,939
372,159|At
31.12.21
£
1,107,309
-
100,784
-
-
-
-
-
4,688
-
-
-
-
-
-
-
3,561
33,786
6,118
86,746
115,038
44,964
395,685
1,502,994|
|---|---|---|---|
continued...
Page 21
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General Fund
CERD2021
**Restricted funds**
JRT Poverty
Runnymede Unbound
Common Cause
Policy
OMS/AHRC
Race & Class
Strategic Communication
Fawcett BME
Banglatown
Lit in Colour
ICM
LEEDS
Strategic Comms Public
Unassigned
Race & Class 2
Black & Veatch
Freelands
Greenpeace
Neu Workshops
Sony
CAF resilience
Vanguard
**TOTAL FUNDS**|Incoming
resources
£
612,463
6,000
618,463
-
99,204
7,000
-
-
24,500
-
1
-
24,500
(1)
-
-
-
-
3,561
61,925
23,333
7,600
90,000
115,038
69,964
526,625
1,145,088|Resources
expended
£
(450,243)
(6,000)
(456,243)
(3,895)
(88,420)
(18,092)
19,579
750
(37,230)
(94,563)
(10,313)
(1,237)
(46,360)
(19,999)
(2,184)
59,530
(1,044)
8,000
-
(28,139)
(17,215)
(7,600)
(3,254)
-
(25,000)
(316,686)
(772,929)|Movement
in funds
£
162,220
-
162,220
(3,895)
10,784
(11,092)
19,579
750
(12,730)
(94,563)
(10,312)
(1,237)
(21,860)
(20,000)
(2,184)
59,530
(1,044)
8,000
3,561
33,786
6,118
-
86,746
115,038
44,964
209,939
372,159|
|---|---|---|---|
continued...
Page 22
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General Fund
**Restricted funds**
JRT Poverty
Runnymede Unbound
Common Cause
Policy
OMS/AHRC
Race & Class
Strategic Communication
Fawcett BME
Banglatown
Lit in Colour
ICM
LEEDS
Strategic Comms Public
Unassigned
Race & Class 2
**TOTAL FUNDS**|At 1.1.20
£
214,250
4,104
-
2,410
(2)
-
9,968
6,668
-
-
-
-
-
-
-
-
23,148
237,398|Net
movement
At
in funds
31.12.20
£
£
730,839
945,089
(209)
3,895
90,000
90,000
8,682
11,092
(19,577)
(19,579)
(750)
(750)
2,762
12,730
87,895
94,563
15,000
15,000
1,237
1,237
21,860
21,860
20,000
20,000
2,184
2,184
(59,530)
(59,530)
1,044
1,044
(8,000)
(8,000)
162,598
185,746
893,437
1,130,835|
|---|---|---|
continued...
Page 23
**THE RUNNYMEDE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General Fund
**Restricted funds**
JRT Poverty
Runnymede Unbound
Common Cause
Policy
OMS/AHRC
Race & Class
Strategic Communication
Fawcett BME
Banglatown
Lit in Colour
ICM
LEEDS
Strategic Comms Public
Unassigned
Race & Class 2
**TOTAL FUNDS**|Incoming
resources
£
1,000,938
-
90,000
10,000
30,400
300
24,500
111,115
15,000
11,250
25,500
20,000
3,000
-
-
-
341,065
1,342,003|Resources
expended
£
(270,099)
(209)
-
(1,318)
(49,977)
(1,050)
(21,738)
(23,220)
-
(10,013)
(3,640)
-
(816)
(59,530)
1,044
(8,000)
(178,467)
(448,566)|Movement
in funds
£
730,839
(209)
90,000
8,682
(19,577)
(750)
2,762
87,895
15,000
1,237
21,860
20,000
2,184
(59,530)
1,044
(8,000)
162,598
893,437|
|---|---|---|---|
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
Page 24
**THE RUNNYMEDE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Charitable activities**
Grants
Consultancy and lecturing
**Other income**
Bank Interest receivable
Royalties
Sundry income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Insurance
Telephone
Consultancy & research costs
Conferences, publications and events
Repairs and renewals
PPS
Website and computer costs
Bank charges
Sundry expenses
Travel and subsistence
Unrecoverable VAT
Training
Editing costs
Staff refreshments
Subscriptions
Room hire etc
Photocopying costs
Postage, carriage & courier
Recruitment expenses
Rent & Rates
Carried forward|2021
£
302,445
720,144
120,187
840,331
8
304
2,000
2,312
1,145,088
410,112
31,791
8,200
1,701
1,130
102,242
10,621
229
-
88,741
343
2,409
3,154
18,661
-
-
261
2,377
40
2,216
8
-
28,620
712,856|2020
£
750,744
526,026
64,493
590,519
64
276
400
740
1,342,003
196,441
14,815
4,065
737
1,049
118,030
10,754
169
288
28,352
280
625
1,416
21,029
610
100
1
975
100
2,199
-
12,255
25,057
439,347|
|---|---|---|
This page does not form part of the statutory financial statements
Page 25
**THE RUNNYMEDE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**Charitable activities**
Brought forward
Cleaning
Conference & Events
Research cost
Production services
Heat & Light
Printing & stationery
Advertisement
Legal & professional fees
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
**Support costs**
**Governance costs**
Auditors' remuneration
Accountancy fees
Total resources expended
**Net income**|2021
£
712,856
368
4,365
21,247
600
254
250
17,549
6,671
445
2,014
766,619
2,800
3,510
6,310
772,929
372,159|2020
£
439,347
482
-
-
-
-
-
-
-
-
2,079
441,908
2,700
3,958
6,658
448,566
893,437|
|---|---|---|
This page does not form part of the statutory financial statements
Page 26