**REGISTERED COMPANY NUMBER: 03828538 (England and Wales) REGISTERED CHARITY NUMBER: 1079952**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
## **FOR**
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
**ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 11|
|**Detailed Statement of Financial Activities**|12|
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021**
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 August 2021. 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**
In setting our objectives and providing services our trustees have given careful consideration to the Charity Commission's guidance on public benefit. Our objectives are:
- to advance the Christian religion amongst children in Africa;
- to advance the education of such children; and
- to relieve such children who are in conditions of need, hardship, distress or illness.
The objectives of the charity have been achieved by the sponsorship of children in Uganda. The work done by the charity is made public on the charity's website, www.africawithlove.co.uk.
## **ACHIEVEMENT AND PERFORMANCE**
We have grown as a school with many more children registered with us . We have more fully qualified teaching staff now due to government regulations and have also employed another 2 fully qualified nurses for the health centre This year we will welcome candidates to take exams from our school.
Last year all students in High School and Primary Section passed their exams and we finished 6th in the Uganda rankings.
Things are moving slowly but well since we have returned to normal school terms again but we look forward to a brighter future.
## **FINANCIAL REVIEW**
The charity had incoming resources of £85,492 (2020: £97,817). During the year, £88,358 (2020: £92,719) was spent aiding children in Africa, helping to achieve the objectives of the charity with the majority of funds going to the betterment of the schools and children.
The trustees will endeavour to maintain sufficient general funds to cover the day to day management costs, whilst releasing the maximum possible sums to fund the sponsored children and projects, as and when required from the general funds available. At the year end, the charity held reserves of £126,641 (2020: £129,507).
## **Reserves policy**
The sponsorship fund represents monies given specifically to sponsor a student and the expenses associated with this. The projects fund represents funds for building works. The unrestricted fund is available for future use at the discretion of the trustees. The trustees aim to maintain the unrestricted reserve at a level to cover administrative costs of the charity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The organisation is a charitable company limited by guarantee, incorporated on 19th August 1999 no. 03828538 and registered as a charity no. 1079952, and is governed by its Memorandum and Articles of Association dated 19th August 1999.
The charity must have a board of trustees of between three and eleven trustees. The current board meet regularly to administer the charity. E Lansdowne is the administrator and runs the day to day running of the office with the guidance and input of R and G Willard.
New trustees are appointed on the basis of nominations received from current board members. Considerations include eligibility, personal competence, specialist skills and availability. New trustees are inducted into the workings of the charity by the existing members of the board in the UK and by taking an active role whilst in Uganda. All trustees are required to provide a valid DBS record check and are given a copy of the trustees' code.
The trustees actively review the major risks which the charity faces on a regular basis.The trustees are involved in the day to day operations of the charity to such an extent that they are aware of maintaining certain levels of funding to ensure resources are available to continue operation. They have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Page 1
ASSOCIATION FOR REACHING & INSTRucnNG
CHILDREN IM AFRICA
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
REFERENCE AND ADMINISTRATIVE DEfAILS
R•gistèr•d Company number
03828538 (England and Wales}
Registered Charity number
1079952
R8g4Ster8d offie•
2 Drury Close
Btswthotpe
Norwich
NR5 9DD
Truste
A M Goldsmith
D G Goldsmith
K A Lansdowne
G Willard
R H Willard
H C Wilson
R H Wilson
Company Secretaries
R H Willard
E H Lansdowne
Independent Examiner
Galloways Acunting
Auas Chambers
33 Ivest Street
8righton
East Sussex
BN12RE
Bankers
Barclays Bank PIC
The Old Bank. High Streel
Lewes
East Sussex
BN7 2JP
This report has been prepared in auX*dan with speoai provts*)ns of Part 15 of the Companies Act 2006 relating to
small Companies.
Apptoved by order of the tr*)ard of trustees on....&¥a.......
Sig on its behalf by:
R H Willard- Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ASSOCIATION FOR REACAIAG & INSTRUCTING
CHILDREN IN AFRICA
Independent examinerfs port to the trustees of Association for Reaching & Instructing Children In Afrlca Ilhe
Company'l
I report lo the charity Iwslee5 on my examinabon of ts amints of the c(panY for the yearended 31 August 2021
Responsibilities and basls of report
As the charity's trustee5 of the Company land aL80 its direcaors for the purposes of company lawl you ate responsible for
the preparation of the accounts in accorda*Tr with the requifements ol Ihe Companies Act 2( I'the 2Cth Acl'l
HavirwJ salisfiecS myself that the accounis of the Cornpany are not requi to be audited under Part 16 of the 2006 Act
and are eligib for irKlependent examination, I report in $[¢t ol my exatninats.on of your charity'5 accounts as carrEd
out under section 145 of the Charities Act 2011 1.the 2011 Aci'i In carrying out tny examinatK)n I have followed the
Directions given by the Charity Cotnftiission urwjei Sects. 14951 Ibl of Ihe 2011 A¢1.
Independent examinerfs ststement
I have completed my examinabon. I confirm Ihat no fflattets have cxjrne to rny altenlion in o)nnection with the
examination giwng me cause to belwe".
a¢cnunling re¢(wds were not kept In respect of the Co¥llpany as iequired by secb'on 386 of Ihe 2(M)6 Act". or
the accounts do not accord with those records. or
the accounts do tK)I cornply with the accountin9 requir)entS of sectth 396 of the 2( Aci other than any
requirement Ih81 the accounts give a true aThJ fwr Mew which is a matter oongdered as part ol an
Independent examinatson, or
the accounts have not been prepa in accordan the meihods atKI pnncips of the Statement of
Recommended Practi for accounting and reporting by d)anties (applicable lo charitses preparing their accounts
in accordan wlh Financial Re[x)rtI SiatKlard 8pplicA)k In the UK and Repu1¢ of Iland IFRS 10211.
I have no concems arKJ have come across no oM*r matters in connection with Ihe examination lo whith attention should
be drawn in this rewt In order to enable a pr(wer underslarKliThJ of accwnts to be ached.
Qknx.
Colin YtyJng BA FCA
Institute of Chartered Accounlanls in ErKJland and Wales
Galloways AccountiNJ
Atlas Chatnbers
33 West stet
Brighton
East Sussex
BN12RE
Dale.
Page 3
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**24,134**
**EXPENDITURE ON**
**Charitable activities**
Sponsorship
**18,802**
**NET INCOME/(EXPENDITURE)**
**5,332**
**Transfers between funds**
13
**(1,447)**
**Net movement in funds**
**3,885**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**120,357**
**TOTAL FUNDS CARRIED FORWARD**
**124,242**|Restricted
funds
£
**61,358**
**69,556**
**(8,198)**
**1,447**
**(6,751)**
**9,150**
**2,399**|**2021**
**Total**
**funds**
**£**
**85,492**
**88,358**
**(2,866)**
**-**
**(2,866)**
**129,507**
**126,641**|2020
Total
funds
£
97,817
92,719
5,098
-
5,098
124,409
129,507|
|---|---|---|---|
The notes form part of these financial statements
Page 4
ASSOCIATION FOR REACHING & INSTRUCTIMG
CHILDREN IN AFRICA
BALANCE SHE
31 AUGUST 2021
2021
Total
funds
2020
Totsl
funds
fijnd
fiJn(L%
FIXED ASSErs
Tangible assets
139,9n
142.371
146,677
CURRENT ASSETS
Debtors
Cash at bank
10
1,682
433
782
782
782
782
2.115
CREDITORS
Arnounts falling due whthin one year
(16512)
116.5121
{19,28SI
NET CURRENT ASSETS
15.730
15,730)
TOTALASSETS LESS CURRENT LIABILMES
1399
126,641
129,507
NET ASSETS
124.242
2.399
126,641
129,507
FUNDS
Unrestricteil funds
R8Strict8d funds
13
124.242
120,357
9,150
TOTAL FUNDS
126.641
129,507
The charitablè company is enliued to exemption fr(yn audrt under Sectson 477 of the CNnpanies Act 2tX)6 for fhe year
ended 31 August 2021.
The members have not required the (x)mpany to obtain an audit of ils finaal ststemènts for the year ended
31 August 2021 in a(ordan Sectsth) 476 of Ihe Ccmnpanies Ad 26.
The twstees a(knowledge their reS[u1b1lI1teS for
lal
nsuring that the charitabk (MpanY keeps auxmwthg IOrdS that o)mFty Sec*ons 386 and 367 of tr
Companies Act 2006 aThJ
preparing financial statements wlmth gNe a tme arml fa view of the state of affairs of the chariiable company as
at the end of each ffinanual year and of its suryAus or defiat for each financi31 year in accordance with the
requirements ol Se(aions 394 and 395 arwj vthith olherwtse rx)mdy wikn the requirèmants of the Companies Act
2006 relating to financial slatements, so far as awJicatrAe to th8 tharitable cunpany.
Ib)
These finanCk ststements have been preFkirgJ in 3(xXth 1h the EoS1On$ apFIKabSe to tharitable ry)mpanies
subject lo the small a)mpanies regime.
The finanual st8t8ments were approved by the Bc*rd of Trustee5 and 8uthorised fr)r issue on
.. aThJ *tre signe(l on its behalf ty.
R H Willard - Truste8
The not8s fomi part of these finaniial st3terrETrts
P5
**ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
## **1. STATUTORY INFORMATION**
Association for Reaching & Instructing Children in Africa is a charitable company, limited by guarantee, registered in England and Wales. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are the advancement of the Christian religion and education of children in Kyjubira, Uganda, and to relieve such children from hardship, distress and illness.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Going concern**
Due to the continued worldwide covid pandemic, it has been another hard year for the charity with a drop in donations and shop orders, but the charity's sponsors are once again providing for the children. The trustees hope to increase sponsorship in the coming months. The trustees are confident that the charity can continue as a going concern and the financial statements are prepared on this basis.
## **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.
## **Support costs**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the 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|-|5% on cost|
|---|---|---|
|Fixtures and fittings|-|
33% on cost, 20% on cost and 15% on reducing balance|
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
## **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.
Page 6
continued...
**ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Donated services**
The contribution of unpaid volunteers cannot be measured reliably. Therefore, the contribution is not included in the financial statements.
## **3. GRANTS PAYABLE**
|**2021**
**£**
Sponsorship
**57,412**
The total grants paid to individuals during the year was as follows:
**2021**
**£**
Sponsorship and Donations
**57,412**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Sponsorship
**26,962 **
**3,984 **
Support costs, included in the above, are as follows:
**2021**
Sponsorship
**£**
Wages
**10,000**
Insurance
**102**
Light and heat
**180**
Telephone
**471**
Postage and stationery
**5,951**
Advertising
**-**
Sundries
**1,288**
Motor expenses
**-**
Computer expenses
**85**
Travelling expenses
**-**
Bank charges
**16**
Subscriptions
**259**
Depreciation of tangible and heritage assets
**7,615**
Interest payable and similar charges
**995**
Independent examiner remuneration
**3,984 **
**30,946**|2020
£
59,630
2020
£
59,630
Totals
£
**30,946**
2020
Total
activities
£
**10,400**
**94**
**200**
**448**
**4,750**
**110**
**196**
**300**
**16**
**3,534**
**222**
**260**
**7,167**
**1,870**
**3,522**
**33,089**|
|---|---|
## **4. SUPPORT COSTS**
Page 7
continued...
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **5. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2021**|2020|
|---|---|---|
||**£**|£|
|Independent examiner fee|**3,984**|3,522|
|Depreciation - owned assets|**7,616**|7,167|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **7. STAFF COSTS**
|Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
25,434
**EXPENDITURE ON**
**Charitable activities**
Sponsorship
13,363
**NET INCOME/(EXPENDITURE)**
12,071
**Transfers between funds**
(14,608)
**Net movement in funds**
(2,537)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
122,894
**TOTAL FUNDS CARRIED FORWARD**
120,357|**2021**
**£**
**10,000**
**10,000**
**2021**
**1**
Restricted
funds
£
72,383
79,356
(6,973)
14,608
7,635
1,515
9,150|2020
£
10,400
10,400
2020
1
Total
funds
£
97,817
92,719
5,098
-
5,098
124,409
129,507|
|---|---|---|
Page 8
continued...
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **9. TANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2020
Additions
At 31 August 2021
**DEPRECIATION**
At 1 September 2020
Charge for year
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other loans (see note 12)
Accruals and deferred income
**12.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans|Freehold
property
£
**152,270**
**3,060**
**155,330**
**6,555**
**7,172**
**13,727**
**141,603**
145,715||Fixtures
and
fittings
£
**28,601**
**250**
**28,851 **
**27,639**
**444**
**28,083**
**768**
962
**2021**
**£**
**-**
**2021**
**£**
**10,752**
**5,760**
**16,512**
**2021**
**£**
**10,752 **||Totals
£
**180,871**
**3,310**
**184,181 **
**34,194**
**7,616**
**41,810**
**142,371**
146,677
2020
£
1,682
2020
£
14,957
4,328
19,285
2020
£
14,957|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
Page 9
continued...
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **13. MOVEMENT IN FUNDS**
|At 1.9.20
£
**Unrestricted funds**
General fund
**120,357**
**Restricted funds**
Restricted fund projects
**9,150**
Restricted fund sponsorship
**-**
**9,150**
**TOTAL FUNDS**
**129,507 **
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund projects
Restricted fund sponsorship
**TOTAL FUNDS**
**Comparatives for movement in funds**
At 1.9.19
£
**Unrestricted funds**
General fund
122,894
**Restricted funds**
Restricted fund projects
1,515
Restricted fund sponsorship
-
1,515
**TOTAL FUNDS**
124,409|Net
movement
in funds
£
**5,332**
**(6,751)**
**(1,447)**
**(8,198)**
**(2,866) **
Incoming
resources
£
**24,134**
**420**
**60,938**
**61,358**
**85,492 **
Net
movement
in funds
£
12,071
7,635
(14,608)
(6,973)
5,098|Transfers
between
At
funds
31.8.21
£
£
**(1,447)**
**124,242**
**-**
**2,399**
**1,447**
**-**
**1,447**
**2,399**
**-**
**126,641**
Resources
Movement
expended
in funds
£
£
**(18,802)**
**5,332**
**(7,171)**
**(6,751)**
**(62,385) **
**(1,447)**
**(69,556)**
**(8,198)**
**(88,358) **
**(2,866) **
Transfers
between
At
funds
31.8.20
£
£
(14,608)
120,357
-
9,150
14,608
-
14,608
9,150
-
129,507|
|---|---|---|
Page 10
continued...
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **13. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|25,434|(13,363)|12,071|
|**Restricted funds**||||
|Restricted fund projects|14,400|(6,765)|7,635|
|Restricted fund sponsorship|57,983|(72,591)|(14,608)|
||72,383|(79,356)|(6,973)|
|**TOTAL FUNDS**|97,817|(92,719)|5,098|
The sponsorship fund represents monies given specifically to sponsor a student and the expenses associated with this.
The projects fund represents funds for building works.
The unrestricted fund is available for future use at the discretion of the trustees.
## **Transfers between funds**
During the year, funds were transferred from the unrestricted reserves to make up the deficit on the restricted sponsorship reserve.
## **14. RELATED PARTY DISCLOSURES**
During the year, the charity received unconditional donations from trustees amounting to £1,540 (2020: £7,450).
During the year, the charity paid a salary to E H Lansdowne, a close family member of three of the trustees, of £10,000 (2020: £10,400)
At the year end, the charity owed the trustee, R H Willard, an amount of £6,071 (2020: £8,369). The loan was unsecured and repayable on demand. During the year, interest payable on the loan was £489 (2020: £1,016).
At the year end, the charity owed the trustee, G Willard, an amount of £4,214 (2020: £6,588). The loan was unsecured and repayable on demand. During the year, interest payable on the loan was £506 (2020: £854).
Page 11
## **ASSOCIATION FOR REACHING & INSTRUCTING CHILDREN IN AFRICA**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021**
||2021|2020|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**38,077**|49,939|
|Sponsorship|**47,415**|47,878|
||**85,492 **|97,817|
|**Total incoming resources**|**85,492**|97,817|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Grants to individuals|**57,412**|59,630|
|**Support costs**|||
|**Management**|||
|Wages|**10,000**|10,400|
|Insurance|**102**|94|
|Light and heat|**180**|200|
|Telephone|**471**|448|
|Postage and stationery|**5,951**|4,750|
|Advertising|**-**|110|
|Sundries|**1,288**|196|
|Motor expenses|**-**|300|
|Computer expenses|**85**|16|
|Travelling expenses|**-**|3,534|
|Bank charges|**16**|222|
|Subscriptions|**259**|260|
|Depreciation of tangible and heritage assets|**7,615**|7,167|
|Loan|**995**|1,870|
||**26,962**|29,567|
|**Governance costs**|||
|Independent examiner remuneration|**3,984 **|3,522|
|Total resources expended|**88,358**|92,719|
|**Net (expenditure)/income**|**(2,866) **|5,098|
This page does not form part of the statutory financial statements
Page 12