2025-03-31-accounts - The Poltimore House Trust

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REGISTERED COMPANY NUMBER: 03914029 (England and Wales)

REGISTERED CHARITY NUMBER: 1079947

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE POLTIMORE HOUSE TRUST

Withers Steele Chartered Accountants 6 Oaklands Court TIVERTON Devon EX16 6TG

THE POLTIMORE HOUSE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

		Page
Report ofthe Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		S
Balance Sheet	6	to	7
Notes to the Financial Statements	8	to	14
DetailedStatementofFinancialActivities		15

THE POLTIMORE HOUSE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Purpose of the charity

The formal Object of the Poltimore House Trust is "To preserve for the benefit of the people of Devon and the nation at large the building of special architectural and historic interest known as Poltimore House, and its grounds and adjoining land forming part of the estate."

One of the great historic estates of Devon, Poltimore is listed by Historic England as Grade 2* and included in the Buildings at Risk register. After the end of its use for various health-related purposes around 1980, the House fell into disrepair and was subject to vandalism. It was saved from further decay by the formation of the Poltimore House Trust.

Following the BBC Restoration programme in 2003, it attracted a large following of loyal Friends who formed a separate charity (The Friends of Poltimore House) to support the work of the Trust. The ‘Friends’ undertook much to help the Trust in raising the profile of Poltimore House, bringing visitors to the House and Grounds, and raising funds. To ensure a more strategic and integrated approach to achieving key objectives, these activities have now been incorporated within the Trust, and the Friends of Poltimore House will shortly be wound up as a separate charity. The Board of Poltimore House Trust expresses its deep gratitude to the Friends, and will ensure that its legacy and work continue.

Poltimore House has always attracted significant numbers of visitors including under the National Heritage Open Days banner, and a diverse range of other arts and community events. The creation of Branches Café, now operated as a separate company (Poltimore House Branches Café Limited), has significantly increased visitor numbers as well as providing a sustainable source of income for the Trust.

For several years the Grounds hosted projects to help disadvantaged people rebuild their lives, including major Public Heath funded projects. There is scope for further expansion of such community and therapeutic uses in the House and Grounds.

Public benefit

The Trustees believe that through work such as that outlined above, they carry out the Objects of the charity for the public benefit. In making decisions they have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Page 1

THE POLTIMORE HOUSE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENT AND PERFORMANCE

Summary of the achievements

Poltimore House and Grounds are situated on the North side of Exeter, approximately 4 miles from the city centre and within the Clyst Valley Regional Park. Poltimore House is included in the Buildings at Risk Register.

During the financial year 01/04/2024 to 31/03/2025 Poltimore House Trust continued to expand opportunities for public access through an increasingly successful events programme and the growing popularity of Branches Café This has led to a steady growth both in visitor numbers and in income growth. The site is also being actively marketed as a venue for private events as part of the Trust’s business plan. In their verdant setting, the House and Grounds have becomea cultural, recreational and wellbeing hub for local communities, especially the rapidly growing residential developments in Westclyst, Pinhoe and Cranbrook.

A serious arson attack in April 2024 caused major damage to the structure of the House. Fortunately much of architectural and historic importance remains, and the Trust is working to protect the remaining structure and to develop a roadmap for its future as a focal point for communities, education, wellbeing, creative businesses and the arts. This will be linked to a business plan to ensure financial sustainability, and provides a focus for continuing dialogue with funding bodies and other stakeholders including East Devon District Council and Historic England.

Strategic objectives for the Grounds include enhanced biodiversity and visitor experience as well as the restoration of key historic features. A strong maintenance programme has been continued, and the volunteer team continues to grow with new members being recruited with a variety of relevant skills.

FINANCIAL REVIEW

Finance and governance

Trustees have overall responsibility for the financial management of the organisation. The Trust itself continues to strengthen its skills base and has made several new appointments under the continued leadership of its Chair (Dr Peter Totterdill).

The Finance and General Purposes Committee has continued to operate, providing Trustees with effective governance and assurance of financial probity.

The Trust benefited from private donations and legacies during the year, as well as enhanced visitor revenue from the Café and events. It is also supported by additional funds raised by The Friends of Poltimore House.

Expenditure is constantly under review to ensure sufficient funds are available to deliver regular maintenance and targeted improvements, as well as discharging the Trust's other responsibilities. Having considered the financial situation, the Trustees have reasonable grounds to expect that the charity will continue operating as normal for the foreseeable future and be able to meet its obligations as they fall due.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing 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.

Poltimore House Trust is controlled by its Memorandum and Articles of Association, and constitutes a Company Limited by Guarantee as defined by the Companies Act 2006.

The Trustees, who are also directors of the Charity for the purpose of the Companies Act 2006, present their report and financial statement for the year ended 31st March 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice as applied to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) applicable in the UK and Republic of Ireland (effective 1January 2015).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 03914029 (England and Wales)

Page 2

THE POLTIMORE HOUSE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Registered Charity number 1079947

Registered office Poltimore House Poltimore Exeter Devon EX4 O0AU

Trustees Professor P J Totterdill Director Ms R J Exton

Mrs A V Brett-Schneider Communications/ P R Professional (resigned 9/2/2025) N Bishop Heritage Director (resigned 19/5/2025)

D J Snell Company Director

R A Barton Project Manager (resigned 17/11/2024) AF Alder-Westlake Director (resigned 26/2/2025)

M R Neville-Smith Certified Accountant (appointed 17/11/2024)

Mrs V E RA Hale Lecturer In Design (appointed 16/12/2024) (resigned 15/9/2025)

Independent Examiner

Withers Steele Chartered Accountants

6 Oaklands Court TIVERTON Devon EX16 6TG

Approved by order of the board of trustees on 17 November 2025 and signed on its behalf by:

Professor P J Totterdill - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE POLTIMORE HOUSE TRUST

Independent examiner's report to the trustees of The Poltimore House Trust (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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, | 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 | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | 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
2 the accounts do not accord with those records; or 3. 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)).

| 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.

Withers Steele Limited

Withers Steele Chartered Accountants 6 Oaklands Court

TIVERTON Devon EX16 6TG

8 December 2025

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THE POLTIMORE HOUSE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

							31.3.25	31.3.24
		Unrestricted		Restricted			Total	Total
		funds		funds	IRF	Fund	funds	funds
	Notes	£		£	£		£	£
INCOME AND
ENDOWMENTS FROM
Donations and legacies		118,188		-		-	118,188	28,398
Other trading activities	2		(1)	-		-	(1)	21,291
Investment income	3		53	-		-	53	-
Total		118,240		-		-	118,240	49 689
EXPENDITURE ON
Raising funds	4	88,314		954	2,221		91,489	43,798
Charitable activities
Charitable Activities			-	-		-	-	32,982
Other			-	-		-	-	3,416
Total		88,314		954	2,221		91,489	80,196
NET
INCOME/(EXPENDITURE)		29,926		(954)	(2,221)		26,751	(30,507)
Other recognised
gains/(losses)
Gains/(losses) on revaluation
offixed assets			(37)	(4,735)		-	(4,772)	-
Net movement in funds		29,889		(5,689)	(2,221)		21,979	(30,507)
RECONCILIATION OF
FUNDS
Total funds brought forward		68,334		73,984	14,807		157,125	187,632
TOTAL FUNDS CARRIED
FORWARD		98	223	68,295	12,586		179,104	157,125

The notes form part of these financial statements

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THE POLTIMORE HOUSE TRUST

BALANCE SHEET 31 MARCH 2025

						31.3.25	31.3.24
		Unrestricted	= Restricted			Total	Total
		funds	funds	IRF	Fund	funds	funds
	Notes	£	£	£		£	£
FIXED ASSETS
Tangible assets	9	87,859	49,417	12,586		149,862	155,305
CURRENT ASSETS
Debtors	10	32,309	-		-	32,309	806
Cash at bank		23,987	18,878		-	42,865	42,564
		56,296	18,878		-	75,174	43,370
CREDITORS
Amounts falling due within
one year	11	(18,412)	-		-	(18,412)	(11,736)
NET CURRENT ASSETS		37,884	18,878		-	56,762	31,634
TOTAL ASSETS LESS
CURRENT LIABILITIES		125,743	68,295	12,586		206,624	186,939
CREDITORS
Amounts falling due after
more than one year	12	(27,520)	-		-	(27,520)	(29,814)
NETASSETS		98,223	68,295	12,586		179,104	157,125
FUNDS	14
Unrestricted funds						98,223	68,334
Restricted funds						80,881	88,791
TOTALFUNDS						179,104	157,125

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) — 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 as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

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THE POLTIMORE HOUSE TRUST

BALANCE SHEET - continued 31 MARCH 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 November 2025 and were signed on its behalf by:

P J Totterdill - Trustee

The notes form part of these financial statements

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THE POLTIMORE HOUSE TRUST

ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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, as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 4% on cost Plant and machinery - 15% on reducing balance Motor vehicles - 25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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THE POLTIMORE HOUSE TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

2.	OTHER TRADING ACTIVITIES
		31.3.25	31.3.24
		£	£
	Fundraising events	(1)	21,291
3.	INVESTMENT INCOME
		31.3.25	31.3.24
		£	£
	Deposit account interest	53	-
4.	RAISING FUNDS
	Raising donations and legacies
		31.3.25	31.3.24
		£	£
	Support costs	46,110	-
	Investment management costs
		31.3.25	31.3.24
		£	3
	Property maintenance	45,379	43,798
	Aggregate amounts	91,489	43,798
5.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
		31.3.25	31.3.24
		£	£
	Depreciation - owned assets	7,426	5,427
	Minibuscharges	2,258	3,492

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees’ expenses

There were no_ trustees’ expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

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THE POLTIMORE HOUSE TRUST

STAFF COSTS

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

STAFF COSTS
			34.38.25	31.3.24
			£	z
Wages and salaries			10,582	2
			10,582	-
The average monthly number ofemployees during the yearwas		was as follows:
			31.3.25	31.3.24
Part time staff			1	-
No employees received emoluments in excess of £60,000.
COMPARATIVES FORTHE STATEMENT OF FINANCIAL		ACTIVITIES
	Unrestricted	Restricted		Total
	funds	funds	IRF Fund	funds
	EE	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	28,398	-	-	28,398
Other trading activities	21,291	-	-	21,291
Total	49,689	-	-	49,689
EXPENDITURE ON
Raising funds	38,977	-	4,821	43,798
Charitable activities
Charitable Activities	29,210	1,123	2,649	32,982
Other	3,416	-	-	3,416
Total	71,603	1,128	7,470	80,196
NET INCOME/(EXPENDITURE)	(21,914)	(1,123)	(7,470)	(30,507)
Transfers between funds	15,232	(9,280)	(5,952)	-
Netmovement in funds	(6,682)	(10,403)	(13,422)	(30,507)
RECONCILIATION OF FUNDS
Total funds brought forward	75,016	84,386	28,230	187,632
TOTALFUNDSCARRIEDFORWARD	68,334	73,983	14,808	157,125

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THE POLTIMORE HOUSE TRUST

TANGIBLE FIXED ASSETS

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

TANGIBLE FIXED ASSETS
			Fixtures
	Freehold	Plant and	and
	property	machinery	fittings
	£	£	£
COST OR VALUATION
At 1 April 2024	125,636	54,146	240,001
Additions	-	6,755	-
Revaluations	(4,772)	-	-
At 31 March 2025	120,864	60,901	240,001
DEPRECIATION
At 1 April 2024	-	25,675	240,001
Charge for year	-	7,127	-
At 31 March 2025	-	32,802	240,001
NET BOOK VALUE
At 31 March 2025	120,864	28,099	-
At 31 March 2024	125,636	28,471	-
	Motor vehicles	Computer equipment	Totals
	£	£	£
COST OR VALUATION
At 1 April 2024	21,263	577	441,623
Additions Revaluations	- -	- -	6,755 (4,772)
At 31 March 2025	21,263	577	443,606
DEPRECIATION
At 1 April 2024	20,065	577	286,318
Charge for year	299	-	7,426
At 31 March 2025	20,364	577	293,744
NET BOOKVALUE
At 31 March 2025	899	-	149,862
At 31 March 2024	1,198	-	155,305
Cost or valuation at 31 March 2025 is represented by:
			Fixtures
	Freehold	Plant and	and
	property	machinery	fittings
	£	£	£
Valuation in 2025	120,864	60,901	240,001
	Motor vehicles	Computer equipment	Totals
	£	£	£
Valuationin2025	21,263	577	443,606

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THE POLTIMORE HOUSE TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.25	31.3.24
		£	£
	Other debtors	24,590	-
	VAT	3,181	-
	Prepayments	4,538	806
		32,309	806
11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.25	31.3.24
		£	&
	Bank loans and overdrafts (see note 13)	2,293	2,293
	Other loans (see note 13)	-	5,937
	Trade creditors	11,939	1
	Social security and other taxes	2,780	575
	VAT	-	1,652
	Accrued expenses	1,400	1,278
		18,412	11,736
12.	.CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		31.3.25	31.3.24
		£	£
	Bank loans (see note 13)	27,520	29,814
13.	LOANS
	An analysis of the maturity of loans is given below:
		31.3.25	31.3.24
		£	£
	Amounts falling due within one year on demand:
	EDDC Mortgage	2,293	2,293
	AHF Loan	-	5,937
		2,293	8,230
	Amounts falling between one and two years:
	EDDC Mortgage - 1-2 years	2,293	2,293
	Amounts falling due between two and five years:
	EDDC Mortgage - 2-5 years	6,880	6,880
	Amounts falling due in more than five years:
	Repayable by instalments:
	EDDCMortgage-5yearsplus	18,347	20,641

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THE POLTIMORE HOUSE TRUST

MOVEMENT IN FUNDS

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

MOVEMENT IN FUNDS
				Net
				movement	At
			At 1.4.24	in funds	313.25
			£	£	£
Unrestricted funds
General fund			68,334	29,926	98,260
Revaluation reserve for Unrestricted
Fund assets			-	(37)	(37)
			68 334	29,889	98 223
Restricted funds
Saloon Fund			18,878	-	18,878
Hub Training fund			1,289	(193)	1,096
PHE Grant			53,817	(761)	53,056
IRF Fund			14,807	(2,221)	12,586
Revaluation reserve for Restricted
Fund assets			-	(4,735)	(4,735)
			88,791	(7,910)	80,881
TOTAL FUNDS			157,125	21,979	179,104
Net movement in funds, included in the above are as		follows:
	Incoming		Resources	Gains and	Movement
	resources		expended	losses	in funds
	£		£	£	£
Unrestricted funds
General fund	118,240		(88,314)	-	29,926
Revaluation reserve for Unrestricted
Fund assets		-	-	(37)	(37)
	118,240		(88,314)	(37)	29,889
Restricted funds
Hub Training fund		-	(193)	-	(193)
PHE Grant		-	(761)	-	(761)
IRF Fund		-	(2,221)	-	(2,221)
Revaluation reserve for Restricted
Fund assets		-	-	(4,735)	(4,735)
		-	(3,175)	(4,735)	(7,910)
TOTALFUNDS	118,240		(91,489)	(4,772)	21,979

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THE POLTIMORE HOUSE TRUST

MOVEMENT IN FUNDS - continued

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

Comparatives for movement in funds

		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	75,016	(21,914)	15,232	68,334
Restricted funds
Saloon Fund	18,878	-	-	18,878
Hub Training fund	1,516	(227)	-	1,289
PHE Grant	54,712	(895)	-	53,817
CCTV Fund	9,280	-	(9,280)	-
IRF Fund	28,230	(7,471)	(5,952)	14,807
	112,616	(8,593)	(15,232)	88,791
TOTAL FUNDS	187,632	(30,507)	-	157,125
Comparative net movement in funds,	included in the above	are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
Unrestricted funds
General fund		49,689	(71,603)	(21,914)
Restricted funds
Hub Training fund		-	(227)	(227)
PHE Grant		-	(895)	(895)
IRF Fund			(7,471)	(7,471)
		-	(8,593)	(8,593)
TOTALFUNDS		49,689	(80,196)	(30,507)

Balances on the restricted funds Hub Training Fund, PHE Grant and IRF Fund represent assets created with these funds.

RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

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THE POLTIMORE HOUSE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDED	31 MARCH 2025
	31.3.25	31.3.24
	£	£
INCOME AND ENDOWMENTS
Donations and legacies Donations Gift aid	44 866 237	7,184 334
License Agreement Grants	42,389 14,991	- 3,942
Hire of house & grounds	15,705	16,338
	118,188	28,398
Other trading activities Fundraising events	(1)	21,291
Investment income
Deposit account interest	53	-
Total incoming resources	118,240	49,689
EXPENDITURE
Investment management costs Property maintenance	45,379	43,798
Support costs
Management Wages Minibus charges Rates and water	10,582 2,258 2,317	- 3,492 1,291
Subscriptions & insurance Lightand heat Telephone Sundries	4,669 14,014 1,001 2,564	3,845 18,618 696 785
	37,405	28,727
Finance
Bank charges	164	58
Other
Plantand machinery Motor vehicles	6,513 229	5,028 399
	6,742	5,427
Governance costs
Accountancy and legal fees Bank loan interest	1,587 212	1,786 400
	1,799	2,186
Total resources expended	91,489	80,196
Netincome/(expenditure)	26,751	(30,507)

This page does not form part of the statutory financial statements

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