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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 03950747 (England and Wales) REGISTERED CHARITY NUMBER: 1080737

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

FOR

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

A Bell Accountancy 25 Castle Walks Chirk LL14 5LQ

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 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 31st March 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

Objectives and aims

The charity's objects are to promote any charitable purpose for the benefit of the community in Wrexham County Borough, by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress.

Aims, Objectives, Strategies and Activities for the Year

Wrexham & District Citizens Advice Bureaux aims to provide free, confidential, impartial and independent advice and information for the benefit of the local community, to exercise a responsible influence on the development of social policies and services and to ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effectively.

In addition to the continuing provision of high-quality advisory services to the local community the primary objectives for the year were to extend the means of service provision to include telephone advice, and to establish a specialist debt advisory service staffed by appropriately qualified personnel.

To obtain the necessary funding to provide the additional services applications were made to various local and national providers of community finance. Advertisements were placed in the local press for advisory staff both as paid employees and volunteers, induction and training being provided to the extent that necessary knowledge and skills were not pre-existing.

The trustees have paid due regard to guidance issued by the Charity Commissioners in deciding what activities the charity should undertake.

The principal activity of Citizens Advice remained the provision of free, confidential, independent and impartial advice, information and counsel for members of the public. This is provided through one main bureau and several outreaches in the borough. In addition to general advice the following specialist advisory services were provided:

1 Single advice fund debt specialist
2 Single advice fund generalist
3 Community council outreach service
4 British gas warmer Wales project
5 Help 2 claim project
6 Universal credit project

Advisory services were provided through face-to-face consultations, telephone advice lines and various outreach services at community centres throughout the borough.

Significant activities

Wrexham & District Citizens Advice Bureaux dealt with in excess of 13,000 enquiries. Recorded a total figure of £1,645,797 debt matters for the community. We assisted clients in maximising their income by £2,589,523 in benefit applications. Through our work this maximised figure is income which has been brought into the County.

These figures are down based on a year of trying to survive COVID 19, with very little access to volunteers assistance and staff working well in excess of their contractual hours, albeit a lot having to work from home. Issues with clients and their everyday lives are now increasing and we are having to spend a lot more time working with mental health clients.

Client enquiries are also down as a result of not being able to provide face to face advice which most of Wrexham clients prefer.

Page 1

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

OBJECTIVES AND ACTIVITIES

Volunteers

Wrexham & District Citizens Advice Bureaux receives help and support in the form of voluntary assistance in advising the public and administering the charity.

Due to COVID 19 we are unable to assess how much time and money has been saved through volunteer interaction, although this will be substantially lower than previous years due to the time spent in lockdown.

FINANCIAL REVIEW

Financial position

The net assets of the Wrexham Citizens Advice Bureaux at the 31st March 2021 were £197,519 (2020: £152,036). Total income for the year was £462,425 (2020: £415,662) and total expenditure for the year was £416,942 (2020: £385,549).

The charity did not have any borrowings from either providers of funding or other sources at the balance sheet date.

Principal funding sources

The directors extend their gratitude to Wrexham County borough council who continue to support the core operating capacity of the charity. Additionally project specific funding was received from:-

Investment policy and objectives

As required in its memorandum paragraph 4 in furtherance of its objects, and for no other purposes, the charity has the power to invest the monies of the charity, not immediately required for its purposes, in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions and such consents as may for the time being be imposed or required by law.

Reserves policy

Under citizens advice head office membership compliance, Wrexham Citizens Advice Bureaux must maintain a level of reserves that is necessary to enable the charity to be managed efficiently and to provide a buffer. The National Citizens Advice Bureaux consider that the most appropriate level of reserves would be three to six months of expenditure.

The level of designated reserves is currently set at five months expenditure. The trustees are of the opinion that there are sufficient funds to meet the charities obligations on a fund-by-fund basis.

Allocated to bureau are transfer costs from various project sources and the Charity allocates some of this project funding allowances towards designated funds for the charity and, therefore, will meet full compliance of the citizens advice membership.

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.

Page 2

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Trustees, who are also directors of the company, are elected from the local community. The trustees keep its membership under annual review to ensure that there is effective representation from the local community. No other persons or bodies external to the charity were entitled to appoint persons to the trustee board.

Trustees must be a permitted person as defined by the Charities Act and of relevant skill or knowledge to the benefit of the Wrexham & District Citizens Advice Bureaux. Trustees are personally responsible for ensuring their skills and knowledge are maintained to a standard which encompasses changes in legislation impacting on the operational activities of the trust.

Organisational structure

The trustees who have served during the year and since the year end are set out on page 4. Trustees are subscribers to the memorandum of association and the trustees are legally responsible for the overall management and control of the Wrexham & District Citizens Advice Bureaux. They hold at least four ordinary meetings in each year.

Decision making

Wrexham & District Citizens Advice Bureaux is governed by its trustee board, which is responsible for setting the strategic direction of the organisation and the policy of the charity. The trustees carry the ultimate responsibility for the conduct of the bureau and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-to-day operation of the organisation to the chief executive officer. The trustee board is independent from the management. A register of members' interests is maintained at the registered office, and is available to the public.

Induction and training of new trustees

On appointment a newly elected trustee must have, as a minimum, read and accepted the memorandum of association and articles of association of the Wrexham & District Citizens Advice Bureaux and read, understood and accepted the duties and responsibilities of a trustee as outlined in the Charity Commissions booklets CC3 - The essential trustee: what you need to know, and CC3(a) - Responsibilities of charity trustees.

Newly elected trustees must understand in detail the ethos, vision and objectives of the Wrexham & District Citizens Advice Bureaux.

Wider network

Wrexham & District Citizens Advice Bureaux is a member of ctizens advice, the operating name of the Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the trustee board in order to fulfil its charitable objects and comply with the national membership requirements.

Related parties

The Wrexham & District Citizens Advice Bureaux co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients. Where one of the trustees holds the position of trustee/director of another charity they may be involved in discussions regarding that other charity but not in the ultimate decision-making process (non-voting).

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03950747 (England and Wales)

Registered Charity number

1080737

Page 3

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

Registered office

35 Grosvenor Road Wrexham LL11 1BT

Trustees

C Bettley Retired (appointed 11.1.21) G R Binnie Retired (resigned 8.7.20) M J Davies Fire safety practitioner (appointed 8.7.20) M Davies Retired (appointed 8.7.20) G Forrester Retired (resigned 14.5.21) W Fynn Regional Director (resigned 8.7.20) A Jones Charity worker (appointed 8.7.20) J Kent Crown Servant (appointed 8.7.20) A J Lewis Accountant H Piggott Retired (appointed 8.6.20) T Taylor Businessman R D Williams Solicitor

Company Secretary G C Roberts

Independent Examiner

A Bell FCCA A Bell Accountancy 25 Castle Walks Chirk LL14 5LQ

Bankers

Barclays Bank plc 51-52 Hope Street Wrexham LL11 1BB

Approved by order of the board of trustees on 10th November 2021 and signed on its behalf by:

R D Williams - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

Independent examiner's report to the trustees of Wrexham and District Citizens Advice Bureaux ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2021.

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 examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA 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:

  1. 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

  4. 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.

A Bell FCCA A Bell Accountancy 25 Castle Walks Chirk LL14 5LQ

10th November 2021

Page 5

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
12,684
Charitable activities
3
Advice & guidance
80,000
Investment income
2
7
Total
92,691
EXPENDITURE ON
Charitable activities
Staff costs
-
Delivery costs
-
Premises costs
39,751
Other
7,457
Total
47,208
NET INCOME
45,483
RECONCILIATION OF FUNDS
Total funds brought forward
152,036
TOTAL FUNDS CARRIED FORWARD
197,519		 Restricted
funds
£
-
369,734
-
369,734
341,257
25,679
2,798
-
369,734
-
-
-		 31.3.21
Total
funds
£
12,684
449,734
7
462,425
341,257
25,679
42,549
7,457
416,942
45,483
152,036
197,519		 31.3.20
Total
funds
£
24,732
390,919
11
415,662
300,998
26,097
52,003
6,451
385,549
30,113
121,923
152,036

The notes form part of these financial statements

Page 6

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

BALANCE SHEET

31ST MARCH 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
8
11,286
CURRENT ASSETS
Debtors
9
71,276
Cash at bank and in hand
145,084
216,360
CREDITORS
Amounts falling due within one year
10
(30,127)
NET CURRENT ASSETS
186,233
TOTAL ASSETS LESS CURRENT
LIABILITIES
197,519
NET ASSETS
197,519
FUNDS
11
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 31.3.21
Total
funds
£
11,286
71,276
145,084
216,360
(30,127)
186,233
197,519
197,519
197,519
197,519		 31.3.20
Total
funds
£
11,845
1,166
152,133
153,299
(13,108)
140,191
152,036
152,036
152,036
152,036

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 10th November 2021 and were signed on its behalf by:

A J Lewis - Trustee

The notes form part of these financial statements

Page 7

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Short leasehold - The length of the lease Plant and machinery - 15% on reducing balance Computer equipment - 33% 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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 8

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

2. INVESTMENT INCOME

INVESTMENT INCOME
31.3.21 31.3.20
£ £
Interest receivable - trading 7 11

3. INCOME FROM CHARITABLE ACTIVITIES

Included in income form charitable activities is a sum of £80,000 received from Wrexham County Borough Council (2020: £60,000).

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.21 31.3.20
£ £
Depreciation - owned assets 2,484 2,233
Other operating leases 30,580 30,580

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2021 nor for the year ended 31st March 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

Management
Advice delivery
Administration		 31.3.21
1
11
2
14		 31.3.20
1
10
2
13

No employees received emoluments in excess of £60,000.

continued...

Page 9

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 24,732 - 24,732
Charitable activities
Advice & guidance 60,000 330,919 390,919
Investment income 11 - 11
Total 84,743 330,919 415,662
EXPENDITURE ON
Charitable activities
Staff costs - 300,998 300,998
Delivery costs - 26,097 26,097
Premises costs 47,618 4,385 52,003
Other 6,451 - 6,451
Total 54,069 331,480 385,549
NET INCOME/(EXPENDITURE) 30,674 (561) 30,113
RECONCILIATION OF FUNDS
Total funds brought forward 121,362 561 121,923
TOTAL FUNDS CARRIED FORWARD 152,036 - 152,036
8. TANGIBLE FIXED ASSETS
Short Plant and Computer
leasehold machinery equipment Totals
£ £ £ £
COST
At 1st April 2020 23,035 77,298 1,912 102,245
Additions - 49 1,876 1,925
At 31st March 2021 23,035 77,347 3,788 104,170
DEPRECIATION
At 1st April 2020 23,035 65,906 1,459 90,400
Charge for year - 1,715 769 2,484
At 31st March 2021 23,035 67,621 2,228 92,884
NET BOOK VALUE
At 31st March 2021 - 9,726 1,560 11,286
At 31st March 2020 - 11,392 453 11,845

continued...

Page 10

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

SAF debtor
Outreach debtor
Prepayments
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Credit card
Accrued expenses
Deferred income
MOVEMENT IN FUNDS
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
23,536
45,483
Designated reserve
128,500
-
152,036
45,483
TOTAL FUNDS
152,036
45,483
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
92,691
Restricted funds
Acton community council
6,522
Gwersyllt community council
7,419
Rhosllanerchrugog community council
6,098
Penycae community council
6,098
Broughton community council
9,000
Universal credit
37,934
British gas trust
19,869
Single advice fund
276,794
369,734
TOTAL FUNDS
462,425		 31.3.21
31.3.20
£
£
67,237
-
3,629
-
410
1,166
71,276
1,166
31.3.21
31.3.20
£
£
5,656
4,639
627
218
3,252
3,313
20,592
4,938
30,127
13,108
Transfers
between
At
funds
31.3.21
£
£
(46,500)
22,519
46,500
175,000
-
197,519
-
197,519
Resources
Movement
expended
in funds
£
£
(47,208)
45,483
(6,522)
-
(7,419)
-
(6,098)
-
(6,098)
-
(9,000)
-
(37,934)
-
(19,869)
-
(276,794)
-
(369,734)
-
(416,942)
45,483

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

11. MOVEMENT IN FUNDS

continued...

Page 11

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.19
in funds
£
£
Unrestricted funds
General fund
45,112
30,674
Designated reserve
76,250
-
121,362
30,674
Restricted funds
Communities first
561
(561)
TOTAL FUNDS
121,923
30,113
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
84,743
Restricted funds
Acton community council
6,522
Gwersyllt community council
7,419
Welsh Government - BABL
21,441
Rhosllanerchrugog community council
5,807
Penycae community council
5,807
Welsh Government - council tax take up
32,250
MASDAP
58,480
Wrexham children's campaign
15,225
Communities first
45,000
Broughton community council
9,000
Universal credit
34,620
British gas trust
19,707
Single advice fund
69,641
330,919
TOTAL FUNDS
415,662		 Transfers
between
At
funds
31.3.20
£
£
(52,250)
23,536
52,250
128,500
-
152,036
-
-
-
152,036
Resources
Movement
expended
in funds
£
£
(54,069)
30,674
(6,522)
-
(7,419)
-
(21,441)
-
(5,807)
-
(5,807)
-
(32,250)
-
(58,480)
-
(15,225)
-
(45,561)
(561)
(9,000)
-
(34,620)
-
(19,707)
-
(69,641)
-
(331,480)
(561)
(385,549)
30,113

continued...

Page 12

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2021.

Page 13

WREXHAM AND DISTRICT CITIZENS ADVICE BUREAUX

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

31.3.21 31.3.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 12,684 24,732
Investment income
Interest receivable - trading 7 11
Charitable activities
Advice services 449,734 390,919
Total incoming resources 462,425 415,662
EXPENDITURE
Charitable activities
Wages 308,692 273,469
Social security 20,106 18,234
Pensions 12,459 9,295
Other operating leases 30,580 30,580
Insurance 2,013 1,539
Light, heat & water 3,889 5,247
Telephone 7,407 5,627
Postage and stationery 4,463 8,460
Sundries 169 46
Repairs & renewals 5,089 6,832
Subscriptions 7,918 5,554
Training (790) 951
Travel costs 2,465 5,506
Room hire 334 1,405
Cleaning & waste 2,207 4,120
Plant and machinery 1,715 2,009
Computer equipment 769 224
409,485 379,098
Support costs
Governance costs
Accountancy fees 2,250 2,250
Legal fees - 313
Bank charges 169 88
Bookkeeping 3,270 3,800
Professional fees 1,768 -
7,457 6,451
Total resources expended 416,942 385,549
Net income 45,483 30,113

This page does not form part of the statutory financial statements

Page 14