REGISTEBID COIIIPANY NuftBEIL. 03785409 IEDgiand Aud Wsltg) REGISTERED CHARITY NUMBER: 11176888 SPIRES CETrifRE dited FthaDcl&l Stalemepts for the Year EndeA 30 Sept4mber 1013 Tudor John Limited t*igbtiL88le House 4648 E4st Stre¢t Epsom Surrey KT17 IHQ
THE sPus CXNTRE Conteats of theFillauciaI Statements for the year ellded 30 Septer(Eber 2023 Page Report ofthe TrnstEes I to 12 IDdependeDt Examiner's Report 13 Statewellt of Fll]anel21 Activilie5 14 Balance Sbeet 15 Cash Flow Statem&t 16 Note5 to the Cash Flow Statement 17 Notes to the Statemexts 18 to 24
TEE SPIRES CENTRE IRZGISTERED NUMBER: 03785409) Report of the Trustees for th¢ year ended 30 Septeber 2023 The tristee5 who are also dirrS of Ihe charity forthe pu0e8 of the coPanIeS A¢t 2006, present their teport witb the fiu4D¢ial stkteniciits of the chaTity fot Ihe year elld 30 Septeber 2023. The trustets nave adopted tbe provisiou off Accouutillg 2nd Reportiag by ChaTities.' Ststement of RecoJmwded Pr2Cti¢¢ app]ioble to CltieS pieparing their a¢couDts iti at¢oidallG¢ ttse Financi21 RBporbAg Standard applicablc in the UK and RepDbIiG of ITelaDd Rs 102) (effective l JallW 2019).
TEE SPIRES CZNTRE GIsTERED NUVBER: 03785409) Report of the Trustees for the yeat eRded 30 Septejnber 2023 Summary of chari5 objects Objective5 and Activitles Spires is 8 highly regarded charity th81 has Eeen worklng wlh homeless and disadvantaged people in South London since 1990. Spires $upports people to exit homelessness, maintain accommrxlation and access a network of support in ordèr to achieve th&5r goals. Slgnificant Activities Spires supports dl$nts who are dealing with cgrnplex issues. which has resuFted or might result in their homelessnass. We addttlonally help women at risk of violence who mlghl be engaged in sèx-work. Wth our lease ending in 2024 3 key focus of the finarbC year to Sgplember 2023 has been to Identify 8Ultable new premises. Subsequent to the financlal year end, SPss Id8nlified the location of our new offices and 2024 11 s69 us rnove to our new premlses in St¢xthell. This move wll providÈ opportuntties to work mortr closety wtth partners and marfKs another slgp in the deYelopm8nt of our mulli-sil& {'hub and spok8') working model. Thls new model has the potential to sèrve a wldar communty, better meet s@tvice usèrs, lonterm ndS. and give efflclency savings through redUcOn of ovetheads- which 8re key lo Spires, future. Whilst not wlhoLJt its challenges, the move psents an opporbjnity to adapt lo thè rising numbers of people expgrienclng homelassness in London through ac¢8leraling th8 implementstlon of trur 'hub spoke. mc3del. This model sees Spir8s move fiom ona day cenlffj locatlon to working across rnulopla siles alone or in co4ocaton with other organi%ations. Tho objectlve being to Èxpand our services into new toGalions and makng our ServiS more accessible to people in need. Thls 1$ a signfficanl development for Spires. Al the end of our financial year (October 20231 we wer8 opefyllng out of four locations across Lambeth tn Slreatham, West Norwood. Brixton and Stockwell. WÈ were also making plans to set up a new Se in Croydon delivered in pathership Wilh a IoGal refugee charity, CRDG. lo support newly. recognEsÈd refugees at rtsk of homelessness. This marks another tnileslon8 foi Spires as we will b& delivertng a new semce within a new borough. Our cor8 aclivili8s include= Daycantre services - hol meal, ck)the5, food par¢8ls, biletries H¢)uSing support- tenancy sust8inmenl, help into housing Benefts support- DWP drop-ln Women's service- Outreach and dropknin for sex-workors and women at risk of ViDlence and deprivation Access to Health Indusion Nurse, podi8lrisL dentistry and mental health team Immigrabon support- 8oh1Y drop-in with Southwark Law Centre. weeY Polish drcsln. Pw2
TBE SPJIIES CEfiTRE (RXGISTENED NUTrtBBR: 03785409) Report of the Trustee4 for the yefir ended 30 September 2023 Below is an ov&rview of the support Spires d81ivers through Housing and Hornèlessness and Women's Services. Houslng and Homelessness Service (H&H) Our Houslng and Homelessness seNice works b empower hom8less and vuln&rgbly housed adults to sou and maintaln secure and appropriate accomrllodation whilst teckling the root causes of their homelessn. Our service provides stability 2nd an opporttjnity for people to rebuild Ikjeir Iwes. Spires. support work8rs typlo8lly ffrsl tneel peopte durfng our waakday braaklast servi. ther8 th8y ara offered food, ¢lothes and other n$cessitles. In most cases immèdiat¢ a5sessm8111 and gupport actlons tak9 place. The team will identify indlvidual's housing requirèments and underfying support needs,. and WDrk with local authoriti8s private landlords to find suitable housiftg, provSdes employment droFHn se35ions, benefit advice mental health support and helps to reduce substanc6 misU5e. Every plan is drfferent, but tha tsatn consislenty support people to= Access or m81ntaln houslng 8nd acGommod8tion A¢58 rnental health servlces and adopt wellbeing stralggles Regi*gr vrith a GP and access physical h8allh sèN¢es Work ttt drug and alcohol services and &stabfJsh healthier copins strategies Develop baste IT. budgefing lfinan¢e skills 8nd work-ready skills Maintsin personal saf8ty and establlsh a support network In August. we took an important stèp in our strategy lo expand our rEaGh beyond our daY-ntre in Streatham. Twce a week w? now deliv¢r our breakfast and drop-in service for people experiencing ho)melessness or who are vulnerably hou58d from Sl Luke's church in Wesl Norwood. Since Septémber we hava held 36 5essIons, serwng 342 breakfasts lo 179 dlfferenl IndrId&1s. Case study: Paddy attended Spires drop-in at West Norwood looking for help with his homelessness. He is a 71_year-old Jamaican national who had been sleeping in a friend's garden shed Sin receiving his indefinite leave to remain. He had been living and working in the UK for 20 years until his health drastically deteriorated meanlng he was left with having no benefits or accommodation. We completed a prevention from homelessness applicatlon end applied for Pension Credit: Housing benafits and for a freedom pass. A housing assessment was completed placing him in temporary accoTllTllodation while we continue to monitor his health issues by attending all health appointrnents with him. We remain in regular Contact with Paddy as we support him to aintain his current and fvture tenancies.
THE SPIRES CENTRE (RKGLSTERID N(rBER. 03785409) Report of the Trnste for the ye¥r end¢d 30 September 2023 Wom6n'5 Servlces Spir&s has a dfjdicated tèam of staff who focus on 5upportÈng women. Ctrntral to thi5 is the Splras Slteeuink semce which for the last 25 years ha5 maintslned a consistent source of support for Wome who are engaged In sex work. Womèn who arè sex working fmm the street are among the most marginalised and it 15 therefore essential that support is deliverèd through outreach so that we can tneel th6m where thgy are al. Supportsng them in their Dwn territory, on their own terms and at times that coincide wllh their working hours, erTables us lo build trust 8Stablish positive relalonships lo achieve bllea81 outGomes. Our Spirès-slreel link servicè has continued to complete 24 outreach sessions per week during 2023. The key aims and outcom2$ from outreach include.. Prowding condoms and harm raduct&on advicg. Providing a link to othèr support seTViCgS,' Signposting women who ara sex-woriung to tha Spires Centr8. Durfng 2023 we ajso strènglhoned our servi¢8 provislon for vulnerable womèn. In Fèbruary. the tèam started 8 weekly wgmen's only dropill space with',n the Spires Centre. During the year the nuTnber of women afftessing the service in any one s8ssion has increased from 5 to 23. Since June 2023 we have also run 8 SpiTe5 drop-in basèd wilhln L8mbelh's Drug and Acohol Service for women. In July 2023, wère highly commended for "outstsnding Achievem&nt in outreach and rough sleeper prDvIsTOn' by Hom8less Link's Excellence AvRrcls. Highly Commended OLrt¥tunding tJehiovom•nt In gutTeaeh tlfid rough $leeperprovision Ire.- Cen- Spires were also pleased lo welcorr,e the BBC who shadowed mernbers of the WoTTren's Team whilst on shifL An extract from the rèport can be found on nked In.. nkedin m:Ir.adivb .7QQ44885858V297920 Pag
THE SPIRES CENTRJ (REGISTERED NUThIBER: 03785409) RepDrt of the Trustees for the yea¥ tnded 30 SEPtembr 2023 Case study: Tracey originally came fmm Eastern Europe to the UK with her two children and her ex-parlner. However, they had recently separated as he had become increasingly controlling and emotionally abusive, and TraY had major safety Goncefns for her and the children. Tracey was also facing homelessness as she had been dependent on her èx-partner to cover rental costs. We initially issued food parcels before conducting a full assessment. W8 liaised wtth her landlord and supported Tracy to obtain a terllporary wsa. This meant that TraY could be plad in safe temporary awommodation. Splres helped Tracey to settle into the new accommodation by provlding bedding. cooking equipment and a microwave. Spires, support meant Tracey and her children were in a more settted and safer osition. Cltht Feedback "ljust want to dfop you onother Ilne to SE7ythonkyoufvr the wondÉYful work you ond SPIRE didfor [...]. she ts nL7¥V sofe fjndsound in temporory uccon]modotion undpluggeLI iftto substoncemisuse servi$ in lewlslium. lfirmly bplieve she would not be alive If hodnot b8 for your intervention. Thonk you. She hosfed bock nothing but GdmirationforSPIRE ond the WO you hove dong, citing your engogement with her GS u yulnerobleperson os the best 50urceof help non stigmatising ondproortwe- shecould ht7ve kad. l olsofound you trained. Xperiend ondoglle in your supportformere whGtst4>5 to toke and in yotjrprompt Yst, deolings wlth hÉr.- "Spires is a plotsf411ed with lougkter ondkv)dne55. It 15 t75oAeploceJorrn4 where 1 &7n eome. for hdp ond not bejudgedfvr mYj$£- 'Spires has helped me $0 mud¥ they hove token thestress owuy, o big weuht hos been lifted". Iht7nk5 to thelr511PPOrt." '7honk you yry much foryour hElp. After2 In the hotel. Jt WL15 0 shodr toftnd myselJon ", he strèet once I gotmy feJugee stotus. egpe¢trHy us o lofte womon. l rnilly opprecigte oll thot YOU do it is too much to fVQge olDn&- "l om happy as wejlthot i ht7ve o place to stOyJ yesterday [-..J gave me o ffo¢Jm tostay ond ' liow i om Vving thtre. thank Trou vay muthfor everything undhelping me. ' f'm $0 glad I w'os reJwred ID Spirts. I didn't understand knw the systems worked here. everything so¢oftAusift9 esp1011Y when ftls in o drfferent lanouooè." Financial Review The Statemon of Financ4al Actlvilies shows that incomlng resources were £580,447 whleh is an increase from £457,088 in 2022. Net outgoirig resources in the y8ar were £514,019 which is an increase from th8 2022 figure of £552,880. 2C>22 proved to be a drfficult year financially, 1th Spires recording a deficit of £95,792_ Whilst Spires was al the upper end of ils reserves, the trnslees considèrèd the iisk of furthèr draw on res&Nes in 2023 should be inimised. DespitE a more cornpelitive funding enviiontnent. and challenging finanal circurnstances, including th.e ongoing cost of living crisis, Spire5 5uccaedÈd in aohieblrir a s..m311 surplus in 2023
THE SPIRES CENTRE (REGISTERED PtUMBER: 03785409) Report of tbe Trtee& for the year ended 30 Septettber 2023 In 2023, Spires also implemente(J its new fundraising strategy. Raislng sufficient funds each year is an ongoing chal!6nge and the coming year is expected ID hold uniquè challenges. The focus is on obtaining longer tèrm funding and diversify4ng our income streams to ensure financial stabilty. Please see the future planning section belowfor further Èxplanation. Prlneipal funding sources During 2023 fundlng from a combination of grant-making truEls and contracts wth statutory fvnders has 8nabled the continuation of Spir8E' servlces. Grant5 from trusts account for approximatèly 80% of our annual income. th wntracts and other asskFtanGe lin-kind support from indwtduals, church communrfties, Schools and omm'Jnity groups) completing the picturE. Spires remains equally appreciatEve of financial and in-kind support frDm individuals, church ¢omtnunSlles. schools and community groups that continue to support our work each year. A full 51st of our donors and supports can be found at the end Of this raport. Principal financial management policies Spires has a slmple financial structure and mod61 focussEd on the need to sustsin a breakeven posibon, supported by a prudent level of financial reserves. Surplus funds are m¥iniained on bank deposit so as to maxlrnise the opportunity to eam interest. The Trustees ievlew (xsh flow projections for a year ahead at each meeting and efforts to mainlaln grant funding art tailored according to the lative risk of ave5 running out of finanetal supporL Reseryes poliey Free reserves ar9 unrestricted funds not invèsted in fLxed assgts or otherwise committed. The Trustees have estsblishèd a poliGy of aiming to maintaln free reserves of befv4een three and six rnonths of lul81 reSoUrS exp&nded, which equates to a figure of betwgsn £143.504.75 and £287.009.50. In tha currant year the unr•stricted re8erves are £239.2. Revlew of the Year The Splres financial year ends on September 30tr However, for the sakE of c18rty we réference the calendar year January- Dgcember of 2023 in the below rEVIgW. Demand for Spireg services has increased over the course of 2023. and we are seeing more peoplg seekTng our sUPPOrt. Up until May 2023. we were seeing beknveèn 90 -110 different Individ1$ accessing services per month, in June this rose to over 120 people and in November It exceeded 160. This ttompares with 70-95 in 2022 snd 50-80 in 2021. Over the course of the ya8r, we had 217 sessions with over 489 s&Mce users accessing our daycentre spac 14,129 èttendantssl. During 2023 we sérved 4.023 breakfasts compared with 3,903 In 2022 2nd 2.983 in 2021 over the samè lime period. TYPIrIy, our Housing and HDmel8ssnetss Team helps 3 -5 people a month move into new housing. Durfng 2023, the number of eontacts with women rosE signififxnuy to 1.614. This compares wth 784 c))nlacts in 2022 and 1,179 in 2021. The cumulative nurnber of women seen during outreach (410) has also risen when compared with 20221354) and 2021 1366). There has also been an increase in thè number ofwomen svpported through in-depth casework- 481 WDmen wore supported cornpared with 422 in 2022 and 480 in 2021. As described abovè. Splrgs is fccused on thE Outcomes achieved through interventions. This is 8 shift from short terrn help to longer t&rni recovery. Some key OLrtcomes from 2023 ar& included below-. Page 6
TEE spnus CENTRE (REGISTERED Nu[BER. 037834091 Report ofthe TrnstEes for the year tlldeit 30 Septe]Dber 2023 Spires 2023 In numbers Housing People gJppoiefF snto housing PeJpLe supported to avoid Èvi-rton People referred to srreet outreach 154 123 79 ea People 5vpportÈd to attencl heèith appoinknents People sbpporteLI to engage viith drtsg & alcohol rervices People svppprted tts Èngage with rnentsi healtb services 25 42 93 PeJplE JPPOrted to Set up bank accounts Management mdirtai4ed Welfare Brnefiis started 54 88 12 In Novernber 2023 wg began to delNeT servicgs in tha n8lghbourSng borough of Croydon for the ffrst tlme. Once a week w8 Fun a drop-in Servi with Croydan Refugee Day Centre {CRDCI for newly r8cogntsed refugees who are horneless or at rt5k of homglessness. The seNice includss support to Ltnder5tand and access housing options, including the Council housing team.. help wmpleling Sirseuink referrals, outreach or ho5ts1 referrals. support In make benefit applicètrons or open a bank 8CCQUfjt and hglp lo register or bg referred lo health seNces. Behve8n November 2023 and December 2023, we supportè(140+ peopl8 hrotJgh this seryice. Community Support Splres began as a cornmunity led rè8ronse to hetp those in povety and social deprivatlon. Community support 8nd IoGal voluntèers rernain as important as ever for our work. Thi8 SUPPCrt includes individual donations, harvest collectiorts frorn sch¢)ols and chur¢hes and support from local tiusinesses. As we continue lo develop our mulb'•Site model and working WTlhin new cammunities, wè looK forward to devebping new relationships and connections. Volunteers play an gssenti81 role n helping staff lo d&liv&r key s&Ntces for the p6c>ple we support They have ayed key roles in delrvering rlay centre activVci6s through cooking and serving breekfasts. WÈ also have dgdlcated tearn of voluntèer5 who support th8 women's team on outreach and an aclmin volunteer who has played a substantial role in kanagIng the funder datsb88Q. As well as the g1ft of their invaluabl& tsrne, volunteers play an important role by adiag a5 ambassado champioiling the Sp•r65' cause. In this Instsgram video shared on Linkedln k'•Jln. one of our fledicated and longstsnding volunteers, Clare, talks aboirt the work that occurs dJrine Olflreach as well as the resilience of thE women. In her words. she seeks to inspire tkners "to be todas beaGon of hope and auion and eompassion" and shares drfferent ways in which people (zn get Involved and help Spires.
SPIRPS CENfRE (REGISTEIIED NUhtBER: 03785409) Rep(Trrt o£the Trustees for the yeAr elldtd 30 Septeber 2023 Futu Plans Offlce Move and Hub and Multl-site Working Model After over 30 y&ars in our current location. cvr partnership wth St Leonarols is comlng to an end. This upcoming move has provided an opportunity for Spires b) rpview ou." ways of working, Induding the development of the hub 8nd spoke model. Thls saes Splr8s working frorn tllultiple locations and in partnership wlth others ID daliver our serAces. During th8 next 12 months the priority will be to d8v81op Ihg slialegic plan for the implemgntatton of the new I[de1. This will include the move to the new pmiseS In Stod(well, the approach to identifytng new Iatr0}nS and rnaintslning CO service5 5fjt.up through the new drop-in services. As demand for Spires, services continuos to rise and the fin8ftcial Qlitnate continues to bé challenging, anothèr priority will be developing community connoctions and supporters. as well as raislng awar8ness of Spires and the serrfc&% It prO&s. Financial Planning A key fo¢us for 2Q23 was the dev61opment and impl?mentadon of our new fundrak8ing strategy, this includ spectfied fvnding cycltss, quartedy targets for both the number of applications submitted and the potenial value of ap l¢atiOnS and a review of th¢ applicatlon tracker in every bDard meeting. To &nsur8 there 18 a robust process for reviewng income and expeneiture, the Trustees havB eated Financè. Fundraising and Risk subcommittee and its membexs (the CEO, the Ch3ir of the Board snd the rreasurèrl meet regulady to review incomelspendinglc2shflow and prepare a forecast through the end of the flnanclal year. Atthough we wet9 succesthl in achieving 8 modest suwus in 2023, the fijnding and wider financial envlronment remains thallenging. Additionally, during the nèxt 12-18 rnonths, a number of key mulb- year funds are set to come lo an gnd. Part of our financial focu5 will th6r#fore be on developing r&s8rves and identifytng replacement fttnding sources. In addition to idenb'fying new mulh'_year funders an irnportanl part of our fundraising strategy has been th8 dev8loprnent of our oornmunity fundr8lsing, busin8ss and ind'.iidual supporters. As we stsrt to work out of new locatlons, we wlll look to strengthen our ties and connections In these areas.
THE SPIB£S CENTRE (REGISTERED NEWEIL. 03785409) Report ofthE Trustee5 ror the year ended 30 SeptembeT 2023 Case Management This year Spires updated its client database. which w£s implernenled in March 2023. This update allows us lo record and report Dn a wid8r range of cllènl outcomes and delivtrry of seNice prowsions, in¢luding through statistical infoTmatlon and cas8 sludlas. Splras focuses on the key metrics of health, housing, money, legal, work and training opportunrfcies. Structure, Governance and Management Govèming document The charity is controlled by Its governing document, 8 deed of trust. anrj conslltules 2 limited company, Ilmited by guarante8. as dafined by the Companies Act 2006. Spires is 8 privale charttable company l.,mited by guarantee. having no share capital. ooverned by its tnemorandum and 8rticles Df assoGiation. The liability of 8sch member In the èvenl of a windlng up is £10. The chÈritable company du8s not use 'Limited' in its name by rtu? of sèction 30 of The Comp8lliES Act 2006. ThE affairs of thg ¢ornpany ar8 managed by the Trustèes who are obliged to meet al least four Ilmes a year fDr this PUTPOS¢. The Truslg98 may number between thr89 and Public benefit When planning activities. the trustees have conshlerèd the Charity Gommission's guidance on public benefit and are satisfie(S thes& are complianl with the guidance. The post of Trustee TrustÈes are recruited through adv8rtising followed by an app11¢81ion and interrfiew. Subsequent appolnlmenl is by an.ordinary $OlUtion of the Board. Truste&s are subject to P6riodic retirement and reappotnlment. Trustee induction and training New Trustees vlsit the Centre to megt staff. volunteers and dier7ts and to understaiid fully the naknrè af Spires worl Nw Trustees a encDuraged to shadow Spires, k&y staff by arrangement. FLJrtheF speciic skills training deemed n6¢es5ary to undertake the role Oi Trus'Lees and Spires Chief Exgcutive. Trustee may be 3rrangèd in conjuncvon with Spires Chair of Management and organisation The Trustees meet every months to coordinata the general strategy, direction and management of Spires. receiving detsil¢d reports from Spires, Chief Executive and 0er offirers as requid. In addition, there is a sUb-cornrnitt structtjre in place to progress certaln critical area5 of work with the day-to-day affairs of Spir8s delegated to the Chf Executs've. Risk management The trustees have asses8ed the major risks to which the charitable company is exposed and are satisfied that system5 are in place to mftlgatè the exposure to those risks. An orgall15ational risk register is hèld and rewew8d at each board meeting.
THE spniEs CENTRE (REGISTEBED NUER. 03785409) RepoTt of the Trusteés for the year ended 30 SepteD]ber 2023 REFERENCE AND ADMINISTRATIVE DETAILS Reglst8red Company number 03785409 (England and Vvalesl Reglstored Charity number 1076888 Règistered office 2nd Floor, ElmfiEld House. 5 Stockwell Mow5 Lambelh SW9 9GX Trustees Idris Arshad (Appointod 05.12.22. resigned 05.02.241 Schnel Hanson (resignèd 05.12.221 Fleur Swanèy (appointed 05.12.221 Natasha Roberts Dan Fairdtsugh Roana Roc¢hini Fiona Richmond The respeclpie Inttumbents are TrusleeslDirectors by virtue of their offi. Thè Directors of the charitsble company are Trustees for the purposes of charty law and throughout this report are Colleclvely referred to ss TruslÈes. Independent Exarniner Tudor John Limtted Nighllngale House 46-48 East Street Epsom Surrey t(f17 1 HQ Bankers: NatWt. Streatham Branch. 54 Strealham HKJh Road, London SW16 18Z Bar,k of Swland: 600 Gorgie Road, Edinburgh EH113XP and The Spires Centre is a member of: Homeless Llnk Lambelh MAR4C Lambeth VAWG Forum (Violénce Against Wofften and Girls) Lambeth Sexual Exploiiation Harm Panol (SEHPI Women's ResDurce Gentre National Ugly Mu95 Page 10
TEE SPtEiES CEiYfRE (REGISTERED NUMBEIL. 037854Q9) Report of the Thtstees for the year ended 30 Septeber 2023 Service Partnerships Croydon Refugee Day C&nlre ICRDC) Emmaus SLC Flnd & Treat Team, Universy Co118ge Hospitals London Groundswell GUJRS and Sl Thornas, NHS Foundatlon frust's Health Inclusion T8Ém Job Centre Plus Lambeth Drug and Allcohol Treatment Consortium Safer N8ighbouthood Team Solvation Army SoLrth London and Maudsley Hospital Southwark Law Centre SPEAR London START Tearn Thames Rèsch The Robes Project Funders and Communlty Supports: We are very grateful to the organisations that have been generous supporters of Splres in the financial year: Community Supporters: Gity HaNèst Fareshare Franw Manca Marks 4nd Spencer The 8orty Shop The White SbJlf Tesco P&oe 11
THE SPIRES CENTRE (REGISTERED NUMBER: 03785409) Report of tbe Trijstees for thÈ year ended 30 September 2023 Funders: B&Q Foundation Buzzacoll City Bridge Foundation Coopers Chaiity CIO David & Ruth Lewis Trust Emmaus SLC Garfield Weston Gisela Graham Foundation Gold and Silver Drawers Cornpany Gowling VVLG Charitsble Trust Heyman Charitable Trust Highfi$ld3 Trust Inner London Magistrates Courts Poor Box and Fee(l&r Charity Julia and Hans Rausing Trust LHA Lloyds Bank Foundation Miranda Bennion Charitable Tnjst Robert Gavro Souter Ch3ritsble Trust Stavros Niarchos Foundab'on Streets of London The Albèrt Hunt Tiusl The Alexandra Trust The Fitton Trust The Gibbs Twsl The Marsh Trust The National Lottery- Reaching Communities The Tara Gatty Foundation The Wimbledon Foundation Homel8ssness Fund The Worshipful Company of Basketmakers The Worshlpful Company of Secretsries The29th May 1961 Trust Thrale Almshouse and Relief in Need Charity Approved bl order of the board of trustees on ..._..-.....1110612024...... and signed on ils behalf by.. Ms Rossana Rocchini - Trustee Page l?
llldepeudeMtExaJnillar's Report to the Trfjstees of The Spires Cejjtre (Retstered numb¢r.' 0378S409) Independent exawiDer's reportto the trllstee5 of Tbe Spires Centre ('¢hp Company'} I rwrt to the ¢b&ity trLLSte¢5 00 my exaEDinatiott Df the i¢Gounts of tbe Company for the y¢£r ended 30 septeber2fj25. Respon5ibiIit5È$ and basi$ of report As the chaTity'8 trustees of tbc C()mpauy (alld also its dircctors for tb¢ purposes of CopanY law) you &r¢ responsiTrl¢ for tb¢ prepardtion of tbE a¢¢oullts in Rc¢ordallce with tbe reqU1rern¢ts of tbe Couwames Act2006 Itbe 2006Act). Hiving satisfied royself that the accouuts of tb¢ Company are not wuir&l to be audltea urydEr Part 16 of the 2N6 Act and are eli8tlyle for indepeudellt ¢x&minatio l ryort io respect of my ¢x8mination of yow ch8rity'$ accouuts 8$ carried out under Section 145 of tbe clrItieS Act 2011 (be 2011 ACQ. Jn carying out my examillatiou I have followed the DiTections given by the Charity Con11$$10 under S¢¢tion 14515) (b) of the 2011 ACL IDdepÈlldellt exxminevs Steell Since your chaYity'È oSS income cxceeded £250,0 your exaler must be B ernber of a list body. l fjatL collFJr that I am qualified to undert31(e the exaroiJatEOll because l & meTob¢r of the ICABW, wbiGb is ODe of the Ji5ted bodiEs. I hav6 completed rny exawillatioL I Cottfir tknt tto rnattets have cOt to iy attention in connection with the examinatiOtt8iviug cause to be]ieve.' a¢eoiJntillg recgrds werellotkept in ry¢t of the Comp8tty as required by Section 386 ofthe 2006 Aci or tEe accounts do not accord tbose recards. or the atrounts do llot comply with the 4¢cowiW reqw¢meLts of Scctioll 396 of tlLe 2006 ALt otber than aDy r¢quiremeEat that the a¢counts givc a tr¢ end fait view whicb is not a matttt rA)nsidettd as part of aD indepelldcnt ex8mitiatits vr the actounls blve not been prepated in accor&Dce Frith the methods and NillGipl¢s Df the Stateroent of RecolendEd Pra¢tiGe for accounting and reporti8 by charities (applicable to charities ptep3ring their accoullts in 3ccordaLce wirl the FinaBcial kBpoTting StaJdaEd applicable UK RepubliG of Ireland (FRS 102}). I have no ¢Ollcerns aud have torlle a¢ross other matt-r5 in tODaection Trith tbe exmiillation to whith attenti¢)n shwld be (Irawn ID this report in order to enable 3 proper uttderstattdiug of tbc accounts to be Ched. HaT£I Day Tudor Johll Limited Nigbtingalc Hou5¢ 48 East Str¢et Surrty KT17 IHQ Pag8 13
THE SPllS CiNTRE Statement tsf Fin*JLCi21 Activities (IcoOr&thIts fvcowe alld b.xpeDditure Aecount) for the year eaded 30 Septsmber 2023 2023 Total funds 2022 Total fiwds b3ndB INCOME ENDOWMENTS FROTrI Donations and l¢gacies 220,629 220,629 101,900 CFLarit2bie ac¢(vities ki0¥1 Sleeper Seryt rcnallcy Support ellgagemeDt Women's Support Service ConsuttsDcy activity 45.0 23.333 45,000 59291 35.958 34.999 36,830 21917 204.820 45,398 2,01 242.358 244,358 Other trd(ting activities Investtnent iucorne 5,727 5,727 9,554 670 Totsl 269 756 310 691 457.088 EEyL DITORE ON kaiSiDg fimd% 30,474 30,474 24,692 C.haritsble activities AduLt Le&IDg Service Tettanty Support Other Conjtalluity ¢ugavem¢Lt WoTaen'8 Support Servi¢E Ctsn5uitancyactiryryty 100,780 93333 194,113 181.001 2.280 71,489 21.020 30,034 204,¥20 17.544 94,059 94.OS9 38,015 217,3i8 255,373 Total 263 3 10,691 574 019 552 880 NET D4COMEI(WEN])ITURE) 6.428 6,428 (95,792) IIECONCTLfATION OF FtrNDS Total fi]nds brought forvlard 233,224 50.000 283,224 379,016 TOTAL FUNDS CABRIED FORWARD 239 652 50.000 289 6E2 283.L4 The notes forra pan of these fillallcial statero¢llts Page 14
Sf]RES C£TRE (REGISTERED NUMBEIL. 0378540YJ uce Sbeet 30 September 2023 2023 Totsl 2022 UnrcstriGted Restsicted Nok5 funds FIXED IkSSETS TaopTrlc Eets 13 9.873 9.873 13,164 Debtot8 14 47.836 47.936 29.035 266 S9 50.000 275,664 50,0 325.664 295.634 CREDITORS 15 {45,88S) (45,885) (25574) ET c[FBzNfA8sBTs 50.000 TOTAL ASSETS LESS CLTAREhT 239,652 S0,OCN) 289.652 283324 NET A&SETS 239 652 289.652 283 16 Unre5tricred fun liestricted funds 239,652 233,224 TOTAL FurqDs 289 652 283 224 The chaEttable cornpally is entitled to Glptio frorn audii Section 4T7 of tbe CoJDpallies Act 2006 forthe year ended 30 September 2023. The mcmbers hav¢ rLQt reqllir¢d the MpanY to obtaiJ audit of its FaLcIal statera¢tsts for the year ended 30 S¢pttmber2023 itx a¢cotd¢ with Seotioll 476 of tb¢ Cotllp3niH Art20(XS. Th¢ trustees adaowledge thcir respowibilities for (a) ensur]< that tbe eh&itabIÈ compaay keeps &ceouttttag record8 that C¢)JELply Sections 386 alld 387 of the CoEQP4Dies Act 2006 and prepIngnanciaL 5&tements whi¢h give a alld fairvicp/ of ttLe state of affasr5 of thr charitsb16 couipany *5 at the ead of each finaaoial year ond of its surplus or deficit for each Fthngnciai yetr atwrdallc¢ wAth tllt r¢quitEents of Sectiotis 394 2nd 395 oudwhich otherwis¢ complywith thE requireroents of tbe Cowanies Act 2006fflaling to fJnalltigJ $tsttments, so for appli¢ablc to GhaTityble CQTAWW. Cb) Th&se fjnarLCAai statenjents have beell PTwed iJL accord3nce witb the proTiSiOU8 applicable tts charitabl¢ ¢ornpaDie£ subjectto the sruall coJrLpanics regill. ¢ial sktryats vlere apwved by the Board of Trnstees aUorised for i$5ue ..Q&JaC£4t...... 8lld wett 5i8ned on ts b¢balf by. Ms Roswa Rocchiiii- Tn]5tee The ttotes foEllLP8rt ofthcse fjnan¢i815tatcm¢nts P4e 15
THE SPIRES CKNTRE Casb Flow.8tatemÉDt for the year ended 30 SteMber 2023 2023 2022 Cth flows frollt operatlLv ?ctivitie5 Cash g•Jcrated fro opcratims Interest paid 7,103 (I14J821 Not cash prded byl(used in) opuatiog activities 115.66ffl Cash IIows from Investiug actimties Pw¢hase of tangible fixed a8s¢ts lllter65t received 5.442 {3.512) Net caah prtiVid byl(used in) iDve8tiag atstivities 5.442 872 Chguge fin cA5h and cxsh equKvalents thè reporrfllg per£od Cash and cajb equiv21ents st ¢ht begillnlng of the reportillg period 11229 1118,538) 266.599 385.137 Cash and cash pquivalents at the eDd of the repDrtSngperiod 277 828 266,599 The tsote5 form psrt of th¢5e finaucial statctttellfb Patte 16
THE SPIRES CENTRE Vote5 to the Casb Flow Ststernent ror the year endéd 30 SepteEDber 2023 RECONCJLIATION OF NE'f CoME/(EXPEN0ITURE) TO NET CASB FLOW FROM OFEBATtYG ACTIVMES 2023 2022 Net iticom&J(expeDdithre} fortbe rpportiTro period (a5 per the Stat¢Tuent of ThiaL¢ial Actfvities) Adjustme]Lts for.. Depreciation ¢bargBS terest received tllteresrpaid Ollcrewydecre2se ill debtorb Jnctease/ldecrease) in creditors 6,428 (95,7921 3291 (5,4421 1.316 (18.801) 20JII 3,998 (640) 1.284 1,081 Ntt cash prov5ded byllu5ed In) operatious 7,103 114,382 ANALYSIS OF CR4NCE8 IN NET Fuf4DS At 1.10.22 C flow At30.923 Net cash Cash at b?k ir£ halld 11,229 277.828 266.599 277,828 Totsl 266.599 11,229 277.828 The uoteg fom part of thesc fancial 5tstErnenr Patre 17
TBE SPIRES CENTrE Notes to the Ftnatkclal StateDJents for the year end¢d 30 Septttnber 2023 ACCOVNIJNG POLicrKs BASIS OF PREPAJUNG Fll¥ANCIAL STATEMENTS The financial st2tetneDts of the ¢haritablts cotupany, whicb 15 2 pubIic benefit entity ulldtr FRS 102, hav¢ becn prepared in accordance th the char.ties SORP (FRS 102) 'AccDUntillg aTLd REporUDg by Chatities.. Ststement of RecOrnettded Piathic¢ appbGable to chzTitie8 prepdfSllD their a¢couots in acGordarLce the Financial RepoTti4tr Standard applicable in the UK 8Jd Rcpuhlic of hldud (FRS 102) (effe¥ve l Janw 2019),, Financial Rttortin8 Skndard L02 The Fin8ncial Rq)ottinéT Stsndard applicable in the UK alld Republic of Trtland, aJJd the Compauies Act 2tK16. The fiDauGial statern¢nts have been pryared ulld¢t the bistorical cos¢ CODV80ti0n. ]NcordE All irLcome is recogDi8¢din th¢ StatsmerLt of FillaDCi21 Activities on£8 tbe chatity hR5 eotitlem¢zLt to the fmd4 it is Probable rbc i]kn?rne will be re1ve(L alld the atrtOUllt¢an bern¢asurcdreliabty. Liabilittes re recoguised as WEndit[a as sooll ag tbeEe if i legal or construGtive obligitioll coti)mittinr t]1ty to that exp6nditure, it l5 probable that & trfer of econoDJiC benefits Tr1 be required Sattleen[ atsd tbe athtrDnt of the objigaliou ¢aD be tueaMred reliably. Expellditurc a¢counte4J for Dn an acGroals basis arnd has betn classificd u3Jder EkeadiDg5 that aggregaio all eost relatsd to the category. TrTrere ¢osts c2Lnot be direcdy attributcd to patticular boathg5 tbey have been 2]located to aetiviLies on a basis consistetyt with tbe use of TANG]LE FIXED ASSETS DepTcciaÉton is provided at tbe following anuual rates iti ¢)rder to Thiit¢ off ea¢h asset over 115 CStim&ted usehl life. ImproveEneDts tr) propety Fixture5 and fittin. IO/ooll¢05t 2i/o on reducing balance Assets Costillg Less than £500 arc not capitslIsed but ¢xpeDse tbTougb the SOFA. TAXATIO As a r¢gistered ch•ity. the crKupany is not liable to iOrDe tax ott its various forn of iQGDElle on thc b&%is that it is applIed for ¢lwit2ble purpos. Incomc th is recovetable on gifi 8ud donations alld is acroullted for as it beconkes receivablc. FtIND AccouYfiNC Unrestricted fimds can bc used in accDrdante charitable objectiv¢s at tb2 distretiou of the trLtsters. Restsicted funds can ollEy be $¢d for particlll8r restiiGted Pwpos witbin the objects of the charity. Rg5tricttoDx atise when slfied by the donor or wlLen fimd5 ate T31S for pattitula¥restrictsl purposes. Restricted 7nc0tlllg res0[25 whtcL retsts to fixed Sets ¢xpeudittLre tr2nsferyed to uwestiicted fut15 followinE tb¢ir KLtili$2tion to the extellt that su¢E Telates to the furth¢rthce of eirect oharitable ([JstrIcted) aotiThoiies. D¢preeiatioD is IhreafteE accounted for as all withiu UDrestriGted fullds. Accumu14trd fijnds [rese¥Lt ao¥¥te retyined aroots, both r¢stri¢tcd Elld DreStrIcte& whidL fia8nc¢ the compally's op¢r&tioL They comprise in>esbntst in fixed assets andwotking Capital. FurtIw explallalion of thenaturts atEd pwposc of et¢h fvlld 15 iududed ]n the note5 to tbe fillan¢iaL st2t¢TllEats. ll[R PtrRCHASE knD LEASING COMMITMENTS ReDtaL8 paid under oprrating le2ses are chw to th? Stst¢llLent of Fillancial A¢tiviti2s otL & Straigbt IuLe b&sis over tbc period of tbc lease_ Pag¢ 18 coutsDued..-
THE SPIRES CEN'IRE Note5 to the Fina£11 Statements- tontAnlled for the )'e4r eaded 30 September 2023 ACCOIrnThTG POLlCtES- eontinued PENSION COSTS OTEER POST-RETtilEMENT BENEFITS The ¢lMTitabl¢ compa]Ly operates 4 d¢fined cotttribution peLsioL s¢b¢tne. Contrib101)$ Payab to the charit2ble company's pellsioll scFA¢me are ch8rged to the Stat¢Ent of Fin8nGialAdivities intbe p¢riod to Thhicb they relatr. DONATTONL S AND LEGACIES 2023 2022 Donatio 220.629 2023 2022 9.554 INVESTENT fNCOTrIE 2023 2022 Sulldry in¢oTrc DcposÉE aecountinteresE 30 640 5.442 5,442 670 INCOME FROM CK4RITABLE ACTIVTfIES 2023 ACtity Rou2b Sleeper Service Tellancy Support Tenancy Support Comrnuoity ¢Dgagemeut Wo]n¢n's Support Sernice Wornen's SDPPOrt Scrvscr ConsultarLCy ¥tivity CopsultanLy Gr&its 45.000 35.958 34.999 29,330 7.500 22,917 co11t3CY Corsultancy 2.000 242,358 2Q4.820 348.649 Gr8nts ¢¢iVe included ID the abovfy are as follow5." 2023 2022 Si8 LotteE GaTfitld Wtstoll FOdatiO Lloyds TSB Worshiphl Cojnpany of Baskettn¥kers StavrosNiarcbgs Foundation LIL4 London Streets" of London City of Lolldon DavLd & Ruth Lewis Fatllity CbaTitablE T Tara Gety Fouodation 171,4iO 25.0(M) 154.419 22,917 5.000 23,333 30.01 15,000 45,908 30.000 40.400 10,000 7.iOO 310,691 270,236 Pa£2 19 olltinued...
TEE SPIRES CENTRE Note5 to the S1]thnclal Statements- continued for the year ended 30 September 2023 IL4tSING DONATIOTrS AND LEGACIES 2023 2022 Staff costs Funth&"sing 29.862 612 22,386 2,306 c*BITABLE AcfTrTfIKs COSTS Support ¢05ts (see note 8) Direct Costs Totals Rough Sleeper Service Tenatk¢y Support Wornell's Supporn Seryi¢c 46.710 73.Q79 147.403 20.980 61 194.113 94.059 255.373 313 810 SUPPORT COSTS G0vennce costs Mauag•ncnt resou¢5 Tota]5 Rougb Sle¢per Strvice Ten2n¢y Support WomeL's Support Service 53237 16,040 47,639 78,992 15,174 4,940 13,713 147,403 20,980 61,352 116.916 229 735 ET tYCOMI FJ(EXPEr4Drrln) NBt in¢0TaellexpditrJre) is stst¢d aftcr Chargin(¢rEdIb0g). 2023 2012 Depreciation- 0ed assets Other operating le¥BS 3291 29,3l2 3.998 io. TRUSTEES, RErU4aTlOlN D BENEFIT8 There were tr]str¢s' remuneRtion or other btrLcfits for tbe year crlded 30 sePteber2O23 nor foT the yr4r euded 30 Scptenkber 2022. TRUSTE)LS' EENsEs There were no ttU5tees' expenses paid for th¢ year ended 30 septemb20? uor for tb¢ veat ended 30 Septettkber 2022. Page 20 COnti]e&..
THE SPIRES CENTRE
Notes to the Financial Statements - continued for the year ended 30 September 2023
11. STAFF COSTS
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 360,824 | 315,426 |
| Social security costs | 29,945 | 26,136 |
| Other pension costs | 19,245 | 16,096 |
| 410,014 | 357,658 | |
No member of staff received remuneration in excess of £60,000. The average number of employees during the year was 12 (2022 - 11)
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 80,880 Charitable activities Rough Sleeper Service - Tenancy Support 29,330 Community engagement 20,834 Women's Support Service - Consultancy activity 45,398 Other trading activities 9,554 Investment income 670 Total 186,666 EXPENDITURE ON Raising funds 24,692 Charitable activities Rough Sleeper Service 146,001 Adult Learning Service 2,280 Tenancy Support 47,542 Other - Community engagement 27,951 Women's Support Service - Consultancy activity 17,544 Total 266,010 NET INCOME/(EXPENDITURE) (79,344) RECONCILIATION OF FUNDS Total funds brought forward 312,569 |
Restricted funds £ 21,020 34,999 7,500 2,083 204,820 - - - 270,422 - 35,000 - 23,947 21,020 2,083 204,820 - 286,870 (16,448) 66,447 |
Total funds £ 101,900 34,999 36,830 22,917 204,820 45,398 9,554 670 |
|---|---|---|
| 457,088 | ||
| 24,692 181,001 2,280 71,489 21,020 30,034 204,820 17,544 |
||
| 552,880 | ||
| (95,792) 379,016 |
continued...
Page 19
THE SPllUS CELYfRE Notes to the Fin2uciaI Statements- Continued for tbe YÈAT ended 30 September 2023 COMTrARATfvEs FOR STATEMiYf OF FJNANCIAL ACT]VITIES- cotttinued UDre8triGted Restti¢ted fimds funds Totsl fid$ TOTAL FUNDS CARRfED FORWARD 233225 13. TANGIBLE FIXED A&$8TS Ityprovem¢nts Flre5 propety fittEtigs Totds COST At l October 2022 and 30 S¢ptcffjber 2023 DEPRECIATION At l October2022 Charge for year 43.828 89.466 45,638 30,664 3,291 76.302 At 30 September2023 45,638 33.955 79 EIET BOOKTr"ALU At 30 Sepr¢naber 2023 9.873 At 30 Scpt2Tuber2022 13.164 14. DEBTORS: AML OU¥TS FALLThG WITHTri ONE YEAR 2023 2022 Ttade debtors Other debt Preptyrylents aud a¢¢rucd income 1.762 792 50 29.035 15. CREDrroRS: AMOUNIS FALLLNG DUE wmuN ONE YEAR 2023 2022 Trdde crcth.tors Social sccurity arld other t&Kes Accruals and Defezrcd ¢01e A¢crne(t expenses 4.420 9,634 25,889 5,942 3,782 7.310 8.754 45.885 25.574 Pagt 2? ¢oLnLued...
THE SPIREI S CENTRE Nots$ to the Fillanci8E Statsmtnts- eontijjued for theye4r ended 30 September 2023 16. MOVEMENT IN FtNDS Net Trfer5 bett¥een fiJDd$ At 1.1022 ovement ID fi]nd5 At 30.9.23 Uurestricted ftutds fimd Special Projects filljd 78,284 154,940 6,428 154,940 154940 239.652 Re5tiictsd flld$ Support Fuud 233.224 6,428 239.652 50,000 50,000 TOTAL FUNDS 283224 289 652 Net movement ftnds, included ill the above 8re as fo]Iow5: Incowi4- Rcsources resourc expellded Movenjetst Unr¢5tricted funds General fLd 269,756 (26J,3281 6,428 Restrteted fullds Big Lottery ReachiA(p ConLlluDities StsvrosNiatchos Foundatiorl LIU Loudo Streets ofLoudon GarfLeld Westo City of LoDdotTr 171,450 23,331 30,000 15.000 25,000 (171,4iQ) (23,333) 130,IKO) 115.th)0) 310691 310691 TOTAL FUNDS 580.447 574,019 6.428 Comparatkves for rnOV¢2Dentlu funds Net ovEneut At 1.10.21 At 3D.9.22 Unrestricied fLnds GeJJerJ fund Special Projects fulld 157.629 154940 {79,345) 78384 154940 Restritted fund5 ErrJer8ency StLPPOrt Ftsud T¢ll8¢Y Sllppott 311569 (79.3451 50,000 16.447 so.000 66.447 50,000 TOTAL FtTh5 TS 379016 colltinued...
THE SPIRES CENTRE Note5 to thE FllnauciAI StatemeDts- continued forthe year ended 30 Septewber 2023 MOTrTMELYT [riFuDS- Continued 16. Comparativ¢ et movernellt in ill¢luded tbe abov¢ are as follows.. Jncoming Tssources Reyourtes expended Movement ID fimd& Uurestrl¢tsd funds Geoerd furyd 186,66) (266.0101 (79245) Restrlctcd fund5 Rough Sleep¢ry Suppon Comrnunity Engagellt W1nled00 Foundation Florne1 Fund Womell's support service Tenancy s0* IT Equipment 35.000 2.08) 17,250 204,82Q 7,500 (35,000) (2,083) (17.250) (204,820) (23.947) 116,447) 270,423 TOTAL Fuf4DS 55 5,792 Direct Fund - thi8 fijnd rrpreseots fvndiog recuwl direcdy Eespect of perfOrmtig th¢ Chtable activities.The iTrlue at the eJ]d of the year Ttpresents the net book value of assets specifjully fiJJded for use in these C1b]e activities. Furdraiser . this is mojw received towards th¢ cost of employ a fd[a]Ser to help geoerdte fun(ts alld euable the Cbatity to improve it'5 fiJaTkcial position. Exllergency Support Fujjd - tbis motLey hag been Eiven to the Charity to covcr atyy ¢XPell5C5 DUV sris¢ i]J the evett that the Ojarity for¢td to clos& It is not a%ailable foruse as day to day nding of the actiYiti¢s. Speci21 Prose5 Fu)d- tbig Trolley ha8 been provided to the aims and objects of SpiK, Enolley c8ll be withilrayo fTh)rn the ffid only after 2U tr[Es have bcejj tOL)sulted alld a SJ]lty have iAdicatcd 3gre¢ettI to the expendtture. TrL)Stses have agreed that gs fat as possible the money should be U4ed for spe¢ial projccts or ill exccpttOTwI cir¢umstance8 to support & shDrrfsU in tèe aunT]al revenue of Sptirs. Jo [e[tO pteserve th¢ speci projeE'kn5 llatL3re of th¢ fund any WTellue payEllellts rcquired should b¢ kept to a minxraDrD eThd in atty case must ot exceed £50,OQO iL any olleyear attd onIy be raade availablt in the Tllost ser10 of ¢ircLJJnstances. 17. REL4TED PARTY DISCLOSURES Ther¢ were llo relthdparty tratsa¢tions teqlliiing disclo5e dwiug the yw. DEFEIUiED EycoLIE 18. Iwnillg Tesources def¢ryed attd acctyed it 30th Septemb¢T 2023 a Dadt up of the followin¥. 2023 2022 Aecnjed irLeottke Wfivd tt 1st Octob¢[ 2022 Dtffftred ill¢0e Wfv'd at 1st October 2022 REc¢ived in the year Accrned income dfwd at 30tkn SepLeTrber 2023 Defured income at 30th Septttuber 2023 6.667 346.481 16334 349,548 R¢lwed 171 tbe year 348,649 J44,964