REGISTERED COMPANY NUMBER: 03835684 (England and Wales) REGISTERED CHARITY NUMBER: 1078643 VnJ.udited Fin_ancia.l£taEMLfr.Lh2_y 24 Ra_i_nbowlhildren's Nursery Limite¢ H&M Accountancy Solutions Nelson House 13 Mundesley Road North Walsham Norfolk NR28 ODA
Rainbow Children's Nurse Limited Contents of t_h_e Financial_statements rEnd Page Report of the Trustees Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 to 11 Notes to the Financial Statements 12 to 18 Detailed Statement of Financial Activities 19 to 20
Rainbow Children's Nurse Limited Re ort of the Trustees for the Y ar Ended 31 Au ust 2024 The Trustees present their annual report together with the financial statements of the charitable Company for the year 1 September 2023 to 31 August 2024. The Annual report seNes the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Staiement of Recommended Practice (SORP) applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 2019). Since the charitable Company qualifies as small under section 382 of the Companies Act 2006, the Slrategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Page 1
Rainbow Children's Nurs Re ort of the Trustees rEn OBJECTIVES AND ACTIVITIES Objectives and alms a. Policies and objectlves In setting objectives and planning activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The principle aims and objectives of the charitable Company are to enhance the education of children through the provision of a nursery setting, providing high quality childcare, teaching and learning by adhering to and practicing the standards laid down by the Early Years Foundation Stage on a non-profit basis. Session limes will be flexible with the offering of funded places to eligible parenls and families. In setting objectives and planning for activities, the Trustees have given due consideralion to general guidancepublished by the Charity Commission re5ating to public benefit. Including the guidance 'Public benefit.. running acharity (PB2)'. b. Strategies for achievlng objectlves The charitable Company will always be aiming to maintain the standard at which it currently runs. To enable this we will maintain staff qualifications and training lo ensure best practice Is used. new training and qualifications will be accessed where necessary to continuously improve the charitable Company going forward. Communication is key lo the charitable Companys success. with all employees striving for the same goals and outcomes. Ongoing communication with parents I carers supports a positive home and nursery working relationship for the best interests of the child. To obtain sufficient quality resources the charitable Company uses a range of fundraising techniques. c. ActSvlt5es undertaken to achleve objectlves Staff undertake a variety of training courses, accessing both face to face and online taught training to promote high quality care, teaching and learning. Regular staff meetings take place giving all a voice and encouraging discussion about the setting and continuous development. Tapestry, an online learning portal. is now completed fortnightly for each child. giving parents access to the most recent learning their child has been participating in. Parents are encouraged to add to this from home to make it a shared learning document. Alongside Tapestry. parents view Iheir child's development on the nursery's learning walls. d. Maln activitles undertaken to further the charltable Company's purposes for the public beneflt The charitable Company provides very flexible childcare sessions which allow parents to arrange nursery times around work more easily We aim lo provide inclusive childcare for the whole community. working parents, funded places. low income families and SEND children and families. Children have the opportunity to access engaging, inspiring and age appropriate activities alongside social interactions with peers that cannot always be accessed wilhin the home environment,. covering all areas of learning and ultimately working towards school readiness. Page 2
Rainbow Childre_n's Nursery Limited Report_of the Trustees for the Year Ended 1Au st 2024 ACHIEVEMENT AND PERFORMANCE Charitable actlvltles The Trustees and management have worked to maintain the nursery that is financially viable and operating well. The Trustees are developing both their own roles and those of the nursery management to maintain and improve this level of operation. The nursery was inspected by Ofsted on 7 September 2023 and was graded overall "good" This is recognition for the hardworking management and staff team who have worked tirelessly to maintain standards within the nursery The nursery has set a target to attain an "outstanding judgement in the next assessment. In consultation with the nursery management, the nursery has been operating a highly flexible approach to both session times and session uptake. This has allowed the nursery to cater for shift workers with changing shifl patterns in addition to parents wanling casual hours childcare The Trustees would like to recognise the performance and dedication of the managemenl team in maintaining and improving the standards within the nursery and the service received by our families. Fundraislng actlvltles Our biggest fundraiser, our annual fete. was held in August, and it was a very good turnout. Fundraisers we achieved included childrens photographs, various raffles. handmade christmas cafds, smartie tubes and easter activity fundraisers. The Jelly Bean room undertook further fundraising, including raffles and a sports event. to fund a revamp of their garden. The kitchen periodically opened. and freshly prepared Ireats, tuck shop style, to raise funds for kitchen role play for the rooms and also a compost bin to reduce waste. FINANCIAL REVIEW Principal funding sources The charitable Companys principal funding source is from nursery fees. Investment pollcy and objective3 The charitable Company does not have funds available for long term investment and therefore funds nol immediately required are on bank deposit. Reserves policy It is the intention of the Trustees to build up a level of reserves to enable the charitable Company to meet operating expenditure for 2 months. amounting to approximately £58,000. As at 31 August 2024, the charitable Company had free reserves (unrestricted funds excluding fixed assets and bank loans) of £25.754. Page 3
inbow hildren's N Limited Report of the Trustees hey ust 2024 FINANCIAL REVIEW Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable Company has adequate resources to continue in operational existence for the foreseeable future The charitable Company is projected to have sufficient income to meet its financial liabilities as they fall due and for this reason the Trustees continue to adopt the going concern basis in preparing the financial statements. Flnancial Summary Income resources amounted to £350,485. After incurring costs of £375.149 the net expenditure for the period amounted to £24,664 as shown on page 7. The usual fee review alongside wage review was undertaken, and rates were increased accordingly Staff vacancies from 22123 were filled by the end of 2023. resulting in the nursery being able to maximise the children numbers again. The numbers were building up within 6 months wilh reservations for fulure dates. This had a clear negative impact on cashflow and was irreversible for the periods concerned. This is no longer the case, and we are back to having a full team and waiting lists for children. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The organisalion is a charitable Company limited by guarantee, incorporated on 3 September 1999 and registered as a charity on 16 December 1999. The charitable Company was esiablished under a Memorandum of Association which established the objects and powers of the charitable Company and is governed under its Articles of Association. Recruitment and appointment of new trustees The charitable Company aims to recruil Trustees with a wide range of business and sector experience from which the charitable Company will benefit. Under the Articles of Association, Trustees co-opted during the year must stand down at Ihe AGM and stand for re-election. One third of the Trustees must retire at each AGM. Organisational structure The Trustees, who virtually meet monthly, administer the charitable Company The day to day operations of thecharitable Company are managed by the Nursery Manager. Deputy Manager and an Office Manager. The Trustees have plans to re-establish a fundraising sub-committee to organise and plan fundraising activities. Page 4
Rainbow Children's Nurse Limited Re .Ort of the Trustees for STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management The Trustees have reviewed the major risks to the charitable Company in accordance with the Statement of Recommended Practice and do nol consider there are any significant matters of concern. The Nursery experienced a temporary reduced team and limited head count in the early part of the yeaf. leading to a negative cashflow, To manage these risks, staff and some other costs have been reduced in the short term. Stringent rules and limitations on expendilure have also been imposed, as well as meticulous monitoring on spend. Plans for future perlods To continue to increase the profile of the nursery through local advertising and via social media {namely a public Facebook page). Maintain a constanl uptake of new Trustees as we recognise the issue that some Truslees wish to leave post when their child leaves nursery for school. To continue to review the fee structure including meal charges to keep up with the national minimum I living wage increases. To work towards obtaining an 'outstanding' Of5ted rating, To act on the essential maintenance requirements accumulating across the site Members, Ilabillty The Members of the charitable Company guarantee to contribute an amount not exceeding £1 to the assets of the charitable Company in the event of winding up. Pollcles adopted for the Inductlon and tralnlng of Trustees New Trustees are provided with copies of: The charitable Companys Memorandum and Articles of Association The latest accounts of the charitable Company Charity Commission guidance notes CC3 - The Essential Trustee In addition Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreasi of their duties and responsibilities. Methods of appointment or election of Trustees The charitable Company aims to recruit Trustees with a wide range of business and sector experience from which the charitable Company will benefit. Under the Articles of Association, Trustees co-opted during the year must stand down at the AGM and stand for re-election. One third of the Tiustees must retire at each AGM. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03835684 (England and Wales) Page 5
Rainbow Children's Nurse Limited ort of the Trustees for the Year Ended 31 Au ust 2024 Registsred Charity number 1078643 Registered office Station Road Worstead Norfolk NR28 9SA Trustees F C Lloyd T L Allard A J Marsh C G Gregson-Rix V George (resigned 5.2.25) Company Secretsry C G Gregson-Rix Independent Examlner Andrew Hart H&M Accountancy Solutions Nelson House 13 Mundesley Road North Walsham Norfolk NR28 ODA This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 27 May 2025 and signed on its behalf by: T L Allard - Trustee Page 6
Rainbow Children's Nurse Limited Statement of Trustees, Res onsibilitie for the Year nd 1Au ust 2024 The trustees (who are also the directors of Rainbow Children's Nursery Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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. 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 Ihe financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Acl 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. Page 7
Inde endent Examinerfs Re Rainbow Children's Nurse ort to the Trustees of Limited Independent examiner's report to the trustees of Rainbow Children's Nursery Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act, or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Andrew Hart H&M Accountancy Solutions Nelson House 13 Mundesley Road North Walsham Norfolk NR28 ODA 27 NNI 2015 Page 8
Rain w Children, Nurse Limited Statement of Financial Ac for the Year nded ivitiR st 2024 31.8.24 Unrestricted fund 31.8.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 100 850 Charitable activltles Charitable activities 346,286 344,401 Other trading activities Investment income 3,510 589 1,818 221 Total 350,485 347,290 EXPENDITURE ON Raising funds 41 3,571 Charltable activltie8 Charitable activities 375.108 343,453 Total 375,149 347,024 NET INCOMEIIEXPENDITUREI {24.664) 266 RECONCILIATION OF FUNDS Total funds brought fOard 123,481 123,215 TOTAL FUNDS CARRIED FORWARD 98,817 123.481 The notes form part of these financial statements Page 9
inbow Childr n's Nurse Limited Balance Sheel 31 August 2024 31.8.24 Unrestricted fund 31.8.23 Total funds Notes FIXED ASSETS Tangible assets 133,666 138,029 CURRENT ASSETS Debtors Cash at bank 214 34,413 6,474 55.322 34,627 61,796 CREDITORS Amounts falling due within one year 10 (14.494) (15.736) NET CURRENT ASSETS 20,133 46,060 TOTAL ASSETS LESS CURRENT LIABILITIES 153.799 184,089 CREDITORS Amounts falling due after more than one year (54,9821 (60,608) NET ASSETS 98,817 123,481 FUNDS Unreslricted fund5 13 98,817 123,481 TOTAL FUNDS 98.817 123.481 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006 The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b} preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5 at the end of each financial year and of its Surplus or deficit for each financial year in accordance with the requirements of Section5 394 and 395 and which otherwise comply with the requirements of the Companies Acl 2006 relating lo financial statements. so far as applicable to the charitable company The notes form part of these financial statements Page 10 continued...
Rainbow Children's Nurse Limited Balance Sheet- continued 31Au ust 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable Gompanies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2025 and were signed on its behalf by.. T L Allard - Trustee The notes form part of these financial statements Page11
Rainbow Children's Nurse Limited Notes to the Financial Statements for the Year End ust 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the Gharitable 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 20191,, 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. 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. Expendlture Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probabSe that a transfer of economic benefits will be required in settiemenl 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 Depreciation is provided at the following annual rales in order to write off each asset over ils estimated useful life. Freehold property - 2./0 Straight line Property improvements - 100/0 Straight line Office equipment - 25,/0 reducing balance I slraight line Computer equipment- 25Q/o slraighl line Taxation The charity is exempt from corporation tax on its charitable activities. Fund accountlng 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 lo the financial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a strai9ht line basis over the period of the lease. Page 12 conlinued...
R8inbowlhildren' Nur Limit Notes to the Financial Statements - continued for the_year Ended 3_1 August 2024 ACCOUNTING POLICIES - contlnued Pension costs and other post-retirement benefits The charilable 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. OTHER TRADING ACTIVITIES 31.8.24 31.8.23 Fundraising income 3,510 1,818 INVESTMENT INCOME 31.8.24 31.8.23 Interest receivable 589 221 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingllcrediting).. 31.8.24 31.8.23 Depreciation - owned assets Equipment hire Consumables & equipment 7,084 3,416 3,930 8.949 4,749 4.207 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefils for the year ended 31 Augusl 2024 nor for the year ended 31 August 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. Page 13 continued.
Rainbow Children's Nurse Limited Notes to the Financial Statements - continued_ r th Year Ended 31 Au ust 2024 STAFF COSTS The average monthly number of employees dufing the year was as follows.. 31.8.24 31.8.23 Managers and supervisors Nursery nurses, assistants, and cooks Managers and supervisors 13 13 19 19 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 850 Charltable actlvltles Charitable activities 344,401 Other trading activities Investment income 1,818 221 Total 347.290 EXPENDITURE ON Raising funds 3,571 Charitable activitie8 Charitable activities 343.453 Total 347,024 NET INCOME 266 RECONCILIATION OF FUNDS Total funds brought forward 123,215 TOTAL FUNDS CARRIED FORWARD 123,481 Page 14 continued..
Rainbow Children's Nurse Notes to the Finan for thè Year ial Statemen s -.continuL_ TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Computer equipment Totals COST At 1 September 2023 Additions 249,164 1,199 40,250 635 6,504 887 295.918 2,721 At 31 August 2024 250,363 40,885 7,391 298,639 DEPRECIATION At I September 2023 Charge for year 113,650 6,186 38,457 521 5,782 377 157,889 7.084 At 31 August 2024 119.836 38.978 6,159 164.973 NET BOOK VALUE At 31 August 2024 130,527 1,907 1,232 133,666 At 31 August 2023 135,514 1,793 722 138,029 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade debtors Other debtors Prepayments 18891 4,964 1,187 323 1.103 214 6,474 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Bank loans and overdrafts (see note 12) Trade creditors Social security and other taxes Pensions payable Other creditors Accrued expenses 5,621 2.611 3490 1.084 (112) 1,800 5,616 2.090 2.035 825 2.812 2,358 14.494 15,736 Page 15 continued..
Rain Nurse Limited Notes to the Financial Statements - conti_nued r Lh@Year En d31Au ust 2024 11. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.8.24 31.8.23 Bank loans (see note 12) 54,982 60,608 12. LOANS An analysis of the maturity of loans is given below.. 31.8.24 31.8.23 Amounts falling due within one year on demand.. Bank loans 5.621 5,616 Amounts falling beeen one and two years. Bank loans- Over 1 year 54,982 60.608 13. MOVEMENT IN FUNDS Net movement in funds Al 31.824 At 1.9.23 Unrestrlcted funds General fund 123,481 (24,664) 98,817 TOTAL FUNDS 123,481 (24,6641 98,817 Net movement in funds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unrestricted funds General fund 350,485 (375,149) 124.6641 TOTAL FUNDS 350,485 (375,149) 124,664) Page 16 continued...
Rainbow Children's Nurse Limit Note_s to the Financial Statements - continLed for the Y rEn 13. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.823 At 1.9.22 Unrestrlcted funds General fund 123.215 266 123,481 TOTAL FUNDS 123,215 266 123.481 Comparative net movement in funds, included In the above are as follows.. Incoming resources Resources Movement expended In funds Unrestrlcted funds General fund 347,290 {347,024) 266 TOTAL FUNDS 347.290 1347.0241 266 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.8.24 Al 1.9.22 Unrestrlcted fundg General fund 123.215 (24,398) 98,817 TOTAL FUNDS 123.215 (24,398) 98.817 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources Movemenl expended in funds Unrestrlcted funds General fund 697,775 (722.173) {24,398) TOTAL FUNDS 697,775 (722.173} 124,3981 Page 17 continued...
Rainbow Children's N rse Limi ed Notes to the Financial Statements - continued for the Year 14. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Page 18
Rainbow hildren's Nur ewLimited Detailed Statement of Financial Activities for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 INCOME AND ENDOWMENTS Donations and legacies Donations 100 850 Other trading activltles Fundraising income 3,510 1,818 Investment income I nterest receivable 589 221 Charltable actlvities Nursery fees Government grants 205,847 140439 239.804 104.597 346,286 344 401 Total Incomlng resources 350,485 347.290 EXPENDITURE Ralslng donatlons and legacles Raising funds 34 Other tradlng actlvltles Bad debts 3.571 Charitable actlvltles Wages Social security Pensions Equipment hire Consumables & equipment Rates and water Insurance Light and heat Telephone & internet Postage and stationery Advertising Sundry expenses Meals & refreshments Hygiene & cleaning Subscriptions Carried forward 286,647 12,638 5,125 3,416 3.930 2.721 3.808 8.117 1,425 2,306 238 1,045 10.756 10,944 2,504 355.620 261669 9,889 4.355 4.749 4,207 2442 3,310 3,865 1.052 2,298 678 1,199 10,303 11,136 3.038 324.190 This page does nol form part of the statutory financial statements Page19
Rainbow Children's Nurs Detailed Statement of Financi81 Activili for the Y r Ended 31 A usL2L24 31.8.24 31.8.23 Charitable activities Brought forward Governance costs Training Legal & professional fees Computer costs Property repairs & maintenance Depreciation of tangible fixed assets Interest payable 355,620 1,484 1,219 1.540 66 3.709 7,084 4,458 324,190 2,669 1.623 534 71 3.647 6.949 3,722 375,180 343,405 Support costs Flnance Bank charges (72) 48 Total resources expended 375,149 347.024 Net (expendSture)lincome {24,664) 266 This page does not form part of the statutory financial statements Page 20