2022-03-31-accounts - Solent Mind

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		Main features
Advocacy		Community Advocacy, Independent	Mental Capacity Advocacy (IMCA),
		Independent Mental Health Advocacy (IMHA), Care Act, Paid Representatives,
		Deprivation ofLiberty Safeguards
Outreach	and Education	Targeted work with young people and engagement		with the wider communities	we
		work within
Peer Support k Crisis		'Support with inspiration' provicled	by people with	lived experience ofmental	health
		issues
Support	and Recoveip	Employment Suppoit, Peer Support,	Education
		Veterans' Support, Wellbeing

						2022	2021
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies			248,764	124,742		373,506	275,231
Charitable activities
Employment & IAPT			4,624,266			4,624,266	2,540,190
Wellbeing			1,311,910	50,298		1,362,208	1,255,179
Other charitable activities			42,852			42,852	260,159
Portsmouth			654,708			654,708	1,233,205
Children and Young Persons			22,849	102,889		125,738
Peer Support			690,899	1,050		691,949	435,453
Therapy &Training			169,046	94,611		263,657	260,617
Advocacy							185,516
Other trading activities			379,505			379,505	216,458
Investment income			738			738	3,849
Total			8,145,537	373,590		8,519,127	6,665,857
EXPENDITURE ON
Raising funds
Raising donations and	legacies	6	104,733			104,733	130,416
Trading activities		7	252,781			252,781	311,472
			357,514			357,514	441,888
Charitable activities
Employment & IAPT			4,615,490	10		4,615,500	2,552,745
Wellbeing			1,266,527	74,437	3,482	1,344,446	1,206,862
Other charitable activities			148,883	11,643		160,526	194,949
Portsmouth			677,648	100		677,748	1,193,833
Children and Young Persons			37,641	130,086		167,727
Peer Support			633,927	2,363		636,290	386,856
Therapy &Training			273,614	72,192		345,806	110,750
Advocacy							174,007
Total			8,011,244	290,831	3,482	8,305,557	6,261,890
NET INCOME			134,293	82,759	(3,482)	213,570	403,967
Actuarial gains/(losses) on defined benet&t schemes			22,671			22,671	~2,797)
NET MOVEMENT	IN
FUNDS			156,964	82,759	(3,482)	236,241	401,170

						2022	2021
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Notes
RECONCI LIAT ION	OF
FUNDS
Total funds brought	forward		2,350,142	116,524	642,590	3,109,256	2,708,086
TOTAL FUNDS CARRIED
FORWARD			2,507,106	199,283	639,108	3,345,497	3,109,256

					2022	2021
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	13	1,399,170		639,108	2,038,278	2,018,481
CURRENT ASSETS
Stock	14	76,999			76,999	49,646
Debtors	15	1,774,559			1,774,559	849,976
Cash at bank		1,527,054	199,282		1,726,336	1,508,189
		3,378,612	199,282		3,577,894	2,407,811
CREDITORS
Creditors	16	(2,259,011)			(2,259,011)	(1,271,068)
NET CURRENT ASSETS		1,119,601	199,282		1,318,883	1,136,743
TOTAL ASSETSLESS
CURRENT LIABILITIES		2,518,771	199,282	639,108	3,357,161	3,155,223
CREDITORS
Amounts falling due after more
than one year	17	(11,664)			(11,664)	(45,967)
NET ASSETS		2,507,107	199,282	639,108	3,345,497	3,109,256
FUNDS	21
Unrestricted funds					2,507,106	2,350,142
Restricted funds					199,283	116,524
Endowment funds					639,108	642,590
TOTAL FUNDS					3,345,497	3,109,256

					2022	2021
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	13	1,348,802		639,108	1,987,910	2,004,276
CURRENT ASSETS
Debtors	15	1,722,822			1,722,822	845,927
Cash at bank		1,435,548	176,863		1,612,411	1,266,433
		3,158,370	176,863		3,335,233	2,112,360
CREDITORS
Creditors	16	(2,127,504)			(2,127,504)	(1,114,898)
NET CURRENT ASSETS		1,030,866	176,863		1,207,729	997,462
TOTAL ASSETS LESS
CURRENT LIABILITIES		2,379,668	176,863	639,108	3,195,639	3,001,738
CREDITORS
Amounts falling due after more
than one year	17	(11,664)			(11,664)	(45,967)
NET ASSETS		2,368,004	176,863	639,108	3,183,975	2,955,771
FUNDS	21
Unrestricted funds					2,368,004	2,196,658
Restricted funds					176,863	116,523
Endowment funds					639,108	642,590
TOTAL FUNDS					3,183,975	2,955,771

				2022	2021
			Notes
Cash flows from operating		activities
Cash generated from operations				343,611	588,223
Net cash provided by operating activities				343,611	588,223
Cash flows from investing		activities
Purchase oftangible fixed assets Sale oftangible fixed assets				(164,003) 18,612	(182,976) 4,480
Gain on defined benefit pension scheme				22,671	(2,797)
Interest received				738	3,849
Net cash used in investing	activities			~12),982)	~)77,444)
Cash flows from financing		activities
Loan repayments in year					251,289
Expenditure attributable to		endowment
Net cash (used in)/provided		by financing	activities		251,289
Change in cash and cash	equivalents		in
the reporting period				(218,147)	662,068
Cash and cash equivalents		at the
beginning ofthe reporting		period		1,508,189	846,121
Cash and cash equivalents		at the end	of
the reporting period				1,726,336	1,508,189

	RECONCILIATION	RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING
	ACTIVITIES
						2022	2021
	Net income	for the	reporting		period (as per the Statement ofFinancial
	Activities)					213,570	403,967
	Adjustments for:
	Depreciation	charges				127,524	126,241
	Movement	in Pension Deficit				22,671	(2,797)
	Interest received					(738)	(3,849)
	(Gain)/loss	on disposals				1,551
	Increase in	debtors				(929,389)	6,947
	Increase in	stocks				(27,353)	(20,451)
	Increase in	creditors				935,775	78,165
	Net cash provided		by	operations		343,611	588,223
2.	ANALYSIS OF CHANGFS				IN NET FUNDS
					At 1.4.21	Cash flow	At 31.3.22
	Net cash
	Cash at bank				1,508, 189	218,147	1,726,336
					1,508, 189	218,147	1,726,336
	Total				1,508, 189	218,147	1,726,336

2.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
						2022	2021
	Donations					127,759	143,085
	Fundraising events					245,747	132,146
						373,506	275,231
3.	OTHER	TRADING ACTIVITIES
						2022	2021
	Lease/room hire income					19,936	18,434
	Consultancy and training					139,610	51,491
	Plant and	cafe sales				219,006	145,345
	Members	income				953	1,188
						379,505	216,458
4.	INVESTMFNT INCOMF.
						2022	2021
	Deposit account interest					738	3,849
	INCOME	FROM CHARITABLE ACTIVITIES
						2022	2021
			Activity
	Contracts Contracts	k Grants	Employment k Wellbeing		IAPT	4,624,266 1,362,208	2,540,190 1,255,179
	Grants Contracts	k Grants	Other charitable Pottsmouth		activities	42,852 654,708	260,159 1,233,205
	Contracts	k, Grants	Children	and Young Persons		125,738
	Contracts Grants	A Grants	Peer Support Therapy k Training			691,949 263,657	435,453 260,617
	Contracts		Advocacy				185,516
						7,765,378	6,170,319

						Year ended	Year ended
						31.3.22	31.3.21
Southampton City		Council SS			Contract	171,915	132,178
Hampshire County		Council SS			Contract	574,979	541,624
Southern Health NHS FT					Contract	4,356,064	3,001,171
Pottsmouth City Council					Contract	180,159	179,999
West Hampshire	CCG				Contract	170,288	138,265
DWP - Access to		Work			Contract	16,364	1,752
Eastleigh Health	Primary			Care Network	Contract	36,094	17,690
Individual Service		Contracts			Contract	16,381	5,517
NHS Portsmouth	CCG				Contract	94,234	22,500
University ofSouthampton					Contract	7,570	7,074
Solent NHS Trust					Contract	1,210,438	1,230,162
Southampton City		CCG			Contract	14,928	7,500
Hampshire Mind	CIC				Contract	539,529	483,225
Southampton Voluntary			Services		Contract	60,000	60,000
Costal Primary Care Network					Contract	11,667
Other Contracts					Contract	14,496	2,864
MIND					Grant	3,098	24,955
Southampton City		Council		SS	Grant		21,261
MJB					Grant	81,618	83,564
Zurich					Grant	15,659	24,631
Rathbone Trust					Grant	6,332	15,650
Comic relief					Grant		2,869
Community Fund					Grant	122,286	163,785
Dibden Allotment		Fund			Grant	14,855
Other Grants					Grant	46,424	2,083
						7,765,378	6,170,319
RAISING DONATIONS				AND LFGACIES
						2022	2021
Staff costs						52,071	88,922
Governance costs						1,375	817
Support costs						27,433	22,198
Other direct costs						23,854	18,479
						104,733	130,416

TRADING	AC	TIVITIFS
				2022	2021
Staff costs				125,185	155,978
Other operating		leases		18,096	18,382
Other direct costs				85,776	121,440
Support costs				22,734	14,984
Governance costs				990	688
				252,781	311,472
CHARITABLE		ACTIVITIES COSTS
				Support
			Direct	costs (see
			Costs	note 9)	1otals
Employment	&	IAPT	3,808,253	807,247	4,615,500
We I 1being			1,110,090	234,356	1,344,446
Other charitable		activities	159,187	1,339	160,526
Portsmouth			567,130	110,618	677,748
Children and	Young Persons		146,482	21,245	167,727
Peer Support			519,380	116,910	636,290
Therapy &.Training			312,211	33,595	345,806
			6,622,733	1,325,310	7,948,043
SUPPORT COSTS
					Information
			Management	Finance	technology
Employment	k	IAPT	155,334	135,131	192,600
Wellbeing			45,096	39,231	55,915
Other charitable		activities	258	224	319
Portsmouth			21,286	18,517	26,392
Children and	Young Persons		4,088	3,556	5,069
Peer Support			22,496	19,570	27,893
Therapy & Training			5,408	12,725	3, 181
			253,966	228,954	311,369
			Human	Governance
			resources	costs	Totals
Employment	&	IAPT	296,579	27,603	807,247
Wellbeing			86,100	8,014	234,356
Other charitable		activities	492	46	1,339
Pol tsnlotlth			40,640	3,783	110,618
Children and	Young Pel'sons		7,806	726	21,245
Peer Support			42,953	3,998	116,910
Therapy & Training			4,772	7,509	33,595
			479,342	51,679	1,325,3 I0

	2022	2021
Auditors' remuneration	12,469	12,579
Depreciation —owned assets	127,524	126,241
Other operating leases	81,854	107,706

STAFF COSTS	STAFF COSTS
		2022	2021
Wages and salaries		5,654,645	4,159,491
Social security	costs	459,423	321,019
Other pension	costs	145,783	129,LI45
		6,259,851	4,609,955

				2022	2021
Charitable	activities			199	162
Governance	and support			8	10
				207	172
No employees benetits (excluding		employer	pension costs) exceeded f60,000 was:
				2022	2021
f.80,001 - f.90,000				I	I

GROUP
	Freehold	Long	Plant and	Motor
	property	leasehold	machinery	vehicles	Totals
COST
At 1st April 2021	1,235,000	360,000	1,273,815	9,970	2,878,785
Additions Disposals			164,003 ~50,642)		164,003 ~50,642)
At 31st March 2022	1,235,000	360,000	1,387,176	9,970	2,992,146
DEPRECIATION
At 1st April 2021		17,410	836,341	6,553	860,304
Charge for year Eliminated on disposal		3,482	123,188 ~33,960)	854	127,524 ~33,960)
At 31st March 2022		20,892	925,569	7,407	953,868
NET BOOK VALUE
At 31st March 2022	1,235,000	339,108	461,607	2,563	2,038,278
At 31st March 2021	1,235,000	342,590	437,474	3,417	2,018,481
CHARITY
	Freehold	Long	Plant and	Motor
	property	leasehold	machinery	vehicles	Totals
COST
At 1st April 2021	1,235,000	360,000	1,212,010		2,807,010
Additions Disposals			140,005 ~48,953)		140,005 ~48,953)
At 31st March 2022	1,235,000	360,000	1,303,062		2,898,062
DEPRECIATION
At 1st April 2021		17,410	785,324	6,553	802,734
Charge for year Eliminated on disposal		3,482	117,872 ~13,936)	854	121,354 ~13,936)
At 31st March 2022		20,892	889,260	7,407	910,152
NFT BOOK VALUE
At 31st March 2022	1,235,000	339,108	413,802	2,563	1,987,910
At 31st March 2021	1,235,000	342,590	426,686	3,417	2,004,276
On a historical cost basis the	Freehold Property	would be shown	as:
				GROUP	CHARITY
Historical cost				921,500	921,500
Depreciation				~230,871)	~230,871)
Freehold Property historical	cost NBV			690629	690,629

					GROUP	CHARITY
Historical	cost				290,000	290,000
Depreciation					~39,440)	~39,440)
Leasehold	Property	historical	cost	NBV	250,560	250,560

The freehold a STOCK	nd leasehold pr	operties were valued in 2015/16 by R	ichard Pullen	BSCFRICS.	BSCFRICS.	BSCFRICS.
		GROUP		CHARITY
		2022	2021	2022		2021
Closing Stock		76,999	49,646
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		GROUP		CHARITY
		2022	2021	2022		2021
Contracts and grant fees		1,584,889	631,716	1,534,889		628,335
Amounts owed by group undertakings				7,252		4,023
VAT		88	898
Other debtors		31,3 I I	87,488	24,330		86,811
Prepayments		92,183	82,383	90,619		79,435
Accrued income		66,088	47,491	65,733		47,323
		1,774,559	849,976	1,722,822		645,927
CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
		GROUP		CH	ARITY
		2022	2021	2022		2021
Trade creditors		112,412	107,056	95,439		87,095
Amounts owed	to group undertakings			1,577
Social security	and other taves	110,130	93,215	105,437		89,413
Other creditors		4,535	6,204	4,535		6,204
Pension fund		39,846	34,256	38,176		32,979
Accruals		142,670	163,058	131,200		156,739
Deferred income (see note 18)		1,849,4 I8	865,136	1,751,139		742,468
		2,259,011	1,268,925	2,127,504	1,114,898

			GROUP		CHARITY
			2022	2021	2022	2021
Pension	scheme	liability	)),664	45,967	11,664	45,967

18.	DEFERRED INCOME	DEFERRED INCOME	DEFERRED INCOME
	GROUP						Balance			Balance
							at 1.4.21	Deferred	Released	at 31.3.22
	Contract and Grants						865,137	2,108,127	1,123,846	1,849,418
	Total Defened	Income					865,137	2,108,127	r1, 123,846)	1,849,418
								)7er	Trrees ers
							Balance			Balance
Analysis ofdeferred		income
	Under one year						865,137	2,108,127	rl, 123,846)	1,849,418
	Total Defe)Ted	Income					865,137	2,108,127	(1,123,846)	1,849,418
CHARITY
							Balance			Balance
							at I 4.21	Deferred	Released	at 31.3.22
	Contract and Grants						742,469	1,968,796	(960,126)	1,751,139
	Total Deferred	Income					742,469	1,968,796	(960,1226)	1,751,139
							Balance			Balance
Analysis ofdeferred		income
	Under one year						742,469	1,968,796	~960,126	1,751,139
	Total Deferr ed	Income					742,469	1,968,796	~(960,126	1,751,139
19.	OPERATING	LEASE		COMMITMENTS
The I'ollowing operating			lease payments		are committed		to be paid:
									2022	2021
Land	and buildings
	Expiring:
	Within one year								37,919	25,852
	Behveen one and		five years						43,935	81,854
									81,854	107,706
20.	ANALYSIS OF		NET ASSFTS BETWEEN				FUNDS
									2022	2021
				Unrestricted		Restricted		Endowment	Total	Total
				Funds			Funds	Funds	Funds	Funds
	Fixed assets				1,399,170			639,108	2,038,278	2,018,481
	Current assets				3,378,612		199,282		3,577,894	2,407,811
	Current liabilities Pension liability			(2,259,011) 11,664					(2,259,01 I) 11,664	(1,271,068) 45,967
					2,507,107		199,282	639,108	3,345,497	3,109,256

2I.	MOVEMENT IN	FU	NDS	- GROU	P
						Net	Transfers
						movement	between	At
					At 1.4.21	in funds	funds	31.3.22
	Unrestricted funds
	General fund				1,054,936	156,964	(184,229)	1,027,671
	Designated reserves				529,280		284,229	813,509
	General infrastructure		reserve		444,972		(100,000)	344,972
	Revaluation reserve				320,954			320,954
					2,350,142	156,964		2,507,106
	Restricted funds
	Property maintenance		reserve		49,042			49,042
	Marcella House legacy		reserve		26,748			26,748
	Fareham and Gosport		reserve		33,861			33,861
	Children and Young	Persons				26,992		26,992
	Peer Support					791		791
	Wel Ibeing				6,872	32,557		39,429
	Mayfield Nurseries	reserve				22,419		22,419
					116,524	82,759		199,283
	Endowment funds
	Freehold property reserve Leasehold property reserve				300,000 342,590 ~3,482) 642,590~3,482			300,000 339,108 639,108
TOTAL	FUNDS				3,109,256	236,241		3,345,497
	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				8,145,537	(8,01 1,244)	22,671	156,964
	Restricted funds
	Children and Young	Persons			157,078	(130,086)		26,992
	Peer Support				3, 154	(2,363)		791
	Wellbeing				106,994	(74,437)		32,557
	Portsmouth				10	(10)
	Employment & IAPT				100	(100)
	Other charitable activities Mayfield Nurseries reserve				11,643 94,611	(I 1,643) ~72,I92)		22,419
					373,590	(290,831)		82,759
	Endowment funds
	Leasehold property	reserve				(3,482)		(3,482)
	TOTAL FUNDS				8,5I9,127	~8,305,557)	22,671	236,241

Comparatives for m	oveme	nt in fund	s
					Net	Transfers
					movement	between	At
				At 1.4.20	in funds	funds	31.3.21
Unrestricted funds
General fund				836,586	277,322	(58,972)	1,054,936
Designated reserves				402,587	126,693		529,280
General infrastructure	reserve			386,000		58,972	444,972
Revaluation reserve				320,954			320,954
				1,946,128	404,015		2,350,143
Restricted funds
Property maintenance	reserve			49,042			49,042
Marcel la House legacy reserve				26,748			26,748
Fareham and Gosport	reserve			34,842	(981)		33,861
MJB Charitable Trust	funded projects			5,254	1,618		6,872
				115,887	637		116,524
Endowment funds
Freehold property reserve Leasehold property reserve				300,000 346,072 ~3,4823 646,072 ~3,482			300,000 342,590 642,590
TOTAL FUNDS				2,708,086	401,170		3,109,256
Comparative net movement		in funds,	included	in the above are as follows:
				hlconlhlg	Resources	Gains and	Movement
				resources	expended	losses	in funds
Unrestricted funds
General fund				6,428,107	(6,147,988)	(2,797)	277,322
Designated reserves				126,693			126,693
				6,554,800	(6,147,988)	(2,797)	404,015
Restricted funds
Fareham and Gosport MJB Charitable Trust	reserve 1'unded projects			24,631 83,620	(25,612) ~82,03f)		(981) 1,618
				108,260	(107,623)		637
Endowment funds
Leasehold property reserve					(3,482)		(3,482)
TOTAL FUNDS				6,663,060	(6,259,093)	(2,797)	401,170

21.	MOVEMEN	T IN	FU	N	DS - CH	ARITY - continued
							Net	Transfers
							movement	between	At
						At 1.4.21	in funds	funds	31.3.22
	Unrestricted	funds
	General fund					1,040,731	171,346	(184,229)	1,027,848
	Designated reserves					390,000		284,229	674,229
	General infrastructure			reserve		444,972		(100,000)	344,972
	Revaluation	reserve				320,955			320,955
						2,196,658	171,346		2,368,004
	Restricted funds
	Property maintenance			reserve		49,042			49,042
	Marcella House legacy				reserve	26,748			26,748
	Fareham and	Gosport		reserve		33,861			33,861
	Children and	Young	Persons				26,992		26,992
	Peer Support						791		791
	Wellbeing					6,872	32,557		39,429
						116,523	60,340		176,863
	Endowment	funds
	Freehold property reserve					300,000			300,000
	Leasehold property		reserve			342,590			339,108
						642,590	3,482		639,108
TOTAL	FUNDS					2,955,771	228,204		3,183,975
	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					7,805,588	(7,656,913)	22,671	171,346
	Restricted funds
	Children and	Young	Persons			157,078	(130,086)		26,992
	Peer Support					3, 154	(2,363)		791
	Wel lbeing					106,994	(74,437)		32,557
	Portsmouth					10	(10)
	Employment & IAPT Other charitable activities					100 11,643	(100) ~l),643)
						278,979	(218,639)		60,340
	Endowment	funds
	I.easehold property		reserve				(3,482)		(3,482)
	TOTAL FUNDS					8,084,5267	~7,870,034)	22,671	228,204

					Net	Transfers
					movement	between	At
				At 1.4.20	in funds	funds	31.3.21
	Unrestricted funds
	General fund			763,297	323,819	(46,385)	1,040,731
	Designated reserves			402,587		(12,587)	390,000
	General infrastructure		reserve	386,000		58,972	444,972
	Revaluation reserve			320,955			320,955
				1,872,839	323,819		2,196,658
	Restricted funds
	Property maintenance		reserve	49,042			49,042
	Marcella House legacy reserve			26,748			26,748
	Fareham and Gosport		reserve	34,842	(981)		33,861
	Wellbeing			5,254	1,618		6,872
				115,886	637		116,523
	Endowment funds
	Freehold property	reserve		300,000			300,000
	Leasehold property	reserve		346,072			342,590
				646,072	~3,482		642,590
TOTAL	FUNDS			2,634,797	320,974		2,955,771
	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			6,162,302	(5,835,686)	(2,797)	323,819
	Restricted funds
	Fareham and Gosport Wel lbeing		reserve	24,632 83,620	(25,613) ~82,0II)		(981) 1,618
				108,261	(107,624)		637
	Endowment funds
	Leasehold property	reserve			(3,482)		(3,482)
	TOTAL FUNDS			6,270,563	(5,946,792)	(2,797)	320,974

								31 March	31 March
								2022	2021
Present value ofprovision								11,664	45,967
RECONCILIATION		OF OPENING			AND CLOSING PROVISIONS
								Period ending	Period ending
								31 March	31 March
								2022	2021
Provision at start	of	period						45,967	54,464
Unwinding ofthe discount			factor (interest			expense)		265	1,224
Deficit contribution paid Remeasurements —impact ofany change in assumptions Remeasurements - amendments to the contribution schedule								(11,632) (268) ~22,6682	(11,293) 1,572
Provision at the end		ofperiod						11,664	45,967
INCOME AND EXPENDITURE IMPACT
								Period ending	Period ending
								31 March	31 March
								2022	2021
Interest expense								265	1,224
Remeasurements	—impact		ofany	change		in assumptions		(268)	1,572
Remeasurements	—amendments			to the contribution			schedule	(22,668)
ASSUMPTIONS
								31 March 2022	31 March 2021
Rate ofdiscount								%per annum 2.35	%per annum 0.66

				2022	2021
Turnover Cost ofsales Gross profit				495,681 (109,526) 386,155	414,198 (71,665) 342,533
Operating and administrative			expenses	(378,117)	(262,338)
Operating profit				8,038	80,195
Retained reserves Retained reserves	brought	forward		153,484 161,522	73,289 153,484