REGISTERED COMPANY NUMBER: 04244834 (England and Wales) REGISTERED CHARITY NUMBER: 1089883
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
THE LONDON CENTRE FOR SPIRITUAL DIRECTION
BSR Bespoke Chartered Accountants Linden House Linden Close Tunbridge Wells Kent TN4 8HH
THE LONDON CENTRE FOR SPIRITUAL DIRECTION
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 August 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 15 |
THE LONDON CENTRE FOR SPIRITUAL DIRECTION (REGISTERED NUMBER: 04244834)
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
Objectives and aims
The Objects of the Charity, as set out in the Memorandum and Articles of Association are to promote spirituality by acting as a Christian resource for prayer, personal exploration, training and development.
Public benefit
The Trustees have referred to the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives and in planning the Charity's future activities. In particular, the Trustees have considered how planned activities will contribute to the aims and objectives that have been set. The Trustees are satisfied that the Charity continues to meet the Charity Commission's guidelines with regard to carrying out its purposes for the public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This period has been one of continuing change since the onset of the Coronavirus pandemic in early 2020. We resumed some level of previous contact with our members, students on Encounter and others in the autumn of 2020 but this was swiftly disrupted again with a return to Lockdown in early 2021. We were able to smoothly transition back to online courses and meetings and the leadership of the Revd Beki Rogers as Director of the The London Centre for Spiritual Direction (LCSD) and Julie Dustan and her team of tutors on Encounter deserve special mention for the sterling efforts in enabling our work to continue.
As a result of the online working which the pandemic has engendered, we have been able to reach a much wider audience than was previously the case. An example of this is our Continuing Direction courses. When we were running these at St Edmund's prior to the pandemic, attendance of twenty-five people would be seen as a good turnout. Since offering attendance via Zoom, our lowest level of attendance for any course has been twenty-five and more frequently the numbers are significantly higher than this and of course we are no longer limited to the physical space constraints of St Edmund's. We have also had greater participation from people geographically well outside our historical catchment area of South East England.
In late 2020 the trustees met with Julie Dunstan, Director of the Encounter Course. Following discussion, it was agreed to offer Encounter on a blended learning basis as it was felt this would attract participants from a wider geography. As a result, the new format involves face-to-face intensive residential weekends once a term, with all other meetings via Zoom. The number of applicants for the Encounter course is currently remaining strong.
FINANCIAL REVIEW
Financial performance
Incoming resources for the year amounted to £97,811 (2020: £73,228 [8-months]), resources expended amounted to £111,874 (2020: £76,446 [8 months]) and profit on investments amounted to £44,188 (2020: £53,581 loss), resulting in a surplus for the year of £30,125 (2020: £56,799 deficit) which is in line with the Trustees' expectations.
Reserves policy
The Charity aims to maintain six months running costs in reserves. The reserves at the year end totalled £160,149 (2020: £130,024).
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.
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION (REGISTERED NUMBER: 04244834)
REPORT OF THE TRUSTEES for the year ended 31 August 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
Potential Trustees are identified by the current Trustees on the basis of particular skills, personal reputation and competence and a supportive attitude towards the activities of the Charity. Trustees are elected by ordinary resolutions following interviews. In September 2020 we were pleased to welcome the Revd Katherine Hedderly as a new trustee. Katherine is vicar of the parish of All Hallows by the Tower and Area Dean of the City of London. In July 2021 we also welcomed the Revd Karen Wellman as a further new trustee. Karen is a vicar of the parish of St Mark's Church, Teddington and the Bishops Advisor on Spirituality for the Kensington Area.
Organisational structure and decision making
The Trustees met online in this financial year on four occasions to oversee the daily running of The London Centre for Spiritual Direction (the Centre), to consider longer term issues for the direction of the Centre, and to support the director and staff in ensuring good practice in the financing and administration of the organisation and its activities. This included regular monitoring of budgets and financial performance, as well as assessment of risks.
Without the work of all who help run the Centre and its operations, the Charity would cease to operate. The trustees are very appreciative of all of these people but especially the Director, Beki Rogers.
Above all we remain grateful to God for his continuing providence for the work of the Centre.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04244834 (England and Wales)
Registered Charity number
1089883
Registered office
The Church Of St Edmund The King Lombard Street London EC3V 9EA
Trustees
Rev N R Evans Mr R G Hepburn Mr M Sargeant (resigned 16.9.20) Rev K Hedderly (appointed 16.9.20) Rev K Wellman (appointed 8.7.21) Mr A J Cornish (appointed 24.2.22)
Independent Examiner
Stephen Pocock FCCA BSR Bespoke Chartered Accountants Linden House Linden Close Tunbridge Wells Kent TN4 8HH
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION (REGISTERED NUMBER: 04244834)
REPORT OF THE TRUSTEES for the year ended 31 August 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 26 May 2022 and signed on its behalf by:
Mr R G Hepburn - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LONDON CENTRE FOR SPIRITUAL DIRECTION
Independent examiner's report to the trustees of The London Centre For Spiritual Direction ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Stephen Pocock FCCA BSR Bespoke Chartered Accountants Linden House Linden Close Tunbridge Wells Kent TN4 8HH
30 May 2022
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 August 2021
| Year Ended 31.8.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Community SDD income 4,289 Donations 2,698 Grant from PCC - Centre programme events 19,792 Supervision groups and fees 12,180 Room hire and rental income 10 Other income - Encounter course programme 50,618 Investment income 3 8,224 Total 97,811 EXPENDITURE ON Charitable activities 4 Costs of generating income 107,661 Governance 4,213 Total 111,874 Net gains/(losses) on investments 44,188 NET INCOME/(EXPENDITURE) 30,125 RECONCILIATION OF FUNDS Total funds brought forward 130,024 TOTAL FUNDS CARRIED FORWARD 160,149 |
Period 1.1.20 to 31.8.20 Total funds £ 2,851 1,600 7,000 4,719 9,310 11,840 38 29,483 6,387 73,228 70,565 5,881 76,446 (53,581) (56,799) 186,823 130,024 |
|---|---|
The notes form part of these financial statements
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION (REGISTERED NUMBER: 04244834)
BALANCE SHEET 31 August 2021
| 31.8.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 - Investments 12 214,160 214,160 CURRENT ASSETS Debtors 13 43,141 Cash at bank 10,802 53,943 CREDITORS Amounts falling due within one year 14 (107,954) NET CURRENT ASSETS (54,011) TOTAL ASSETS LESS CURRENT LIABILITIES 160,149 NET ASSETS 160,149 FUNDS 15 Unrestricted funds 160,149 TOTAL FUNDS 160,149 |
31.8.20 Total funds £ 2,076 161,750 163,826 39,315 25,050 64,365 (98,167) (33,802) 130,024 130,024 130,024 130,024 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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
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(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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continued...
THE LONDON CENTRE FOR SPIRITUAL DIRECTION (REGISTERED NUMBER: 04244834)
BALANCE SHEET - continued 31 August 2021
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 26 May 2022 and were signed on its behalf by:
Rev N R Evans - Trustee
Mr R G Hepburn - Trustee
The notes form part of these financial statements
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021
1. GENERAL INFORMATION
The London Centre for Spiritual Direction is a private limited company, limited by guarantee without share capital, registered and incorporated in England and Wales.
The Trustees of the company can be found in the Report of the Trustees. In the event of the company being wound up, liability in respect of the guarantee is limited to £1 per trustee.
The address of its registered office and place of business is The Church of St Edmund The King, Lombard Street, London, EC3V 9EA.
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest whole £1.
The year end of the charitable company was changed from 31 December to 31 August in the prior year in accordance with its articles to better coincide with the services provided. The comparative figures therefore show the 8 months from 1 January 2020 to 31 August 2020 and consequently the amounts (including the related notes) are not entirely comparable.
Critical accounting judgements and key sources of estimation uncertainty
Depreciation is a significant accounting estimate within the accounts. Depreciation rates are based on the useful expected lives of each asset. The Trustees review the assets to ensure that their policies remain up to date, accurate and in line with previous expectations to confirm that depreciation is not accelerated or under-provided.
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.
Income is recognised in the period it is receivable and to the extent the charity has provided the goods or services. Income received in advance is carried forward for credit in the period to which the income relates.
Grants and donations are only included in the SOFA when the general income recognition criteria are met.
Income from interest, royalties and dividends is recognised when receipt is probable and the amount receivable 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.
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost Encounter - 25% on cost Website - 25% on cost
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.
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.
Going concern
The trustees have made their own assessment of going concern and have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties that cast significant doubt on the Charity's ability to continue as a going concern.
Financial Instruments
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.
Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.
Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.
Investments
Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
continued...
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
3. INVESTMENT INCOME
| Investment income 4. CHARITABLE ACTIVITIES COSTS Costs of generating income Governance 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Centre programme events Subscriptions Supervisors fees Utilities Library Encounter course expenses Community of SD expenses Service charge to SMW PCC Rent donation to SMW PCC Depreciation |
Year Ended 31.8.21 £ 8,224 Direct Support Costs (see costs (see note 5) note 6) £ £ 100,750 6,911 - 4,213 100,750 11,124 Year Ended 31.8.21 £ 47,859 3,043 1,029 5,775 - - 33,731 881 5,167 3,000 265 100,750 |
Period 1.1.20 to 31.8.20 £ 6,387 Totals £ 107,661 4,213 111,874 Period 1.1.20 to 31.8.20 £ 29,445 3,125 399 154 (648) 136 21,849 1,083 10,333 - 530 66,406 |
|---|---|---|
continued...
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
6. SUPPORT COSTS
| Costs of generating income Governance |
Governance Other costs £ £ 6,911 - - 4,213 6,911 4,213 |
Totals £ 6,911 4,213 |
|---|---|---|
| 11,124 |
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Period | ||
|---|---|---|
| 1.1.20 | ||
| Year Ended | to | |
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Depreciation - owned assets | 265 | 1,252 |
| Deficit on disposal of fixed assets | 1,811 | - |
| Independent examination | 800 | 800 |
| Preparation of financial statements | 3,413 | 5,081 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the period ended 31 August 2020.
Trustees' expenses
During the year, Mr R G Hepburn was reimbursed £nil (2020: £58) in relation to travel expenses incurred.
9. STAFF COSTS
| Period | ||
|---|---|---|
| 1.1.20 | ||
| Year Ended | to | |
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Wages and salaries | 62,349 | 39,062 |
| Social security costs | - | 538 |
| Pension costs | 1,459 | 972 |
| 63,807 | 40,572 | |
Key management remuneration
During the year, Rev Beki Rogers a director of the Charity received remuneration of £16,480 (2020: £10,987) for services provided.
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
9. STAFF COSTS - continued
The average monthly number of employees during the year was as follows:
| Period | |||
|---|---|---|---|
| 1.1.20 | |||
| Year Ended | to | ||
| 31.8.21 | 31.8.20 | ||
| Staff | 5 | 5 | |
| No employees received emoluments in excess of £60,000. | |||
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Community SDD income | 2,851 | ||
| Donations | 1,600 | ||
| Grant from PCC | 7,000 | ||
| Centre programme events | 4,719 | ||
| Supervision groups and fees | 9,310 | ||
| Room hire and rental income | 11,840 | ||
| Other income | 38 | ||
| Encounter course programme | 29,483 | ||
| Investment income | 6,387 | ||
| Total | 73,228 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Costs of generating income | 70,565 | ||
| Governance | 5,881 | ||
| Total | 76,446 | ||
| Net gains/(losses) on investments | (53,581) | ||
| NET INCOME/(EXPENDITURE) | (56,799) | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 186,823 | ||
| TOTAL FUNDS CARRIED FORWARD | 130,024 |
continued...
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
11. TANGIBLE FIXED ASSETS
| Office equipment Encounter £ £ COST At 1 September 2020 43,506 23,577 Disposals (43,506) - At 31 August 2021 - 23,577 DEPRECIATION At 1 September 2020 41,695 23,577 Charge for year - - Eliminated on disposal (41,695) - At 31 August 2021 - 23,577 NET BOOK VALUE At 31 August 2021 - - At 31 August 2020 1,811 - 12. FIXED ASSET INVESTMENTS MARKET VALUE At 1 September 2020 Additions Revaluations At 31 August 2021 NET BOOK VALUE At 31 August 2021 At 31 August 2020 |
Website £ 24,882 - 24,882 24,617 265 - 24,882 - 265 |
Totals £ 91,965 (43,506) 48,459 89,889 265 (41,695) 48,459 - 2,076 The M&G Equities Investment Fund for Charities £ 161,750 8,224 44,186 214,160 214,160 161,750 |
|---|---|---|
There were no investment assets outside the UK.
Fixed asset investments were valued on an open market basis on 31 August 2021 by M&G PLC.
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Refundable to the Diocese Accruals and deferred income |
31.8.21 £ 43,141 - 43,141 31.8.21 £ 21 300 27,161 80,472 107,954 |
31.8.20 £ 36,594 2,721 39,315 31.8.20 £ 1,725 3,101 24,299 69,042 |
|---|---|---|
| 98,167 |
The Charity assists the Diocese with running a Christian Studies course. During the year, the course generated income of £10,662 (2020: £8,274) and expenses of £7,800 (2020: £4,356), resulting in a surplus of £2,862 (2020: £3,918). The accumulated surplus in respect of the course was £27,161 (2020: £24,299) at the year end. It is included in creditors as it is held by the Charity on behalf of the Diocese.
Included within creditors is deferred income of £72,305 (2020: £58,462) which relates to income received in advance of services provided.
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS |
follows: Incoming resources £ 97,811 97,811 |
At 1.9.20 £ 130,024 130,024 Resources expended £ (111,874) (111,874) |
Net movement At in funds 31.8.21 £ £ 30,125 160,149 30,125 160,149 Gains and Movement losses in funds £ £ 44,188 30,125 44,188 30,125 |
At 31.8.21 £ 160,149 |
|---|---|---|---|---|
| 160,149 | ||||
| 30,125 |
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THE LONDON CENTRE FOR SPIRITUAL DIRECTION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 186,823 186,823 |
Net movement in funds £ (56,799) (56,799) |
At 31.8.20 £ 130,024 |
|---|---|---|---|
| 130,024 |
Comparative 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 | 73,228 | (76,446) | (53,581) | (56,799) |
| TOTAL FUNDS | 73,228 | (76,446) | (53,581) | (56,799) |
16. RELATED PARTY DISCLOSURES
The were no material related party transactions for the year ended 31 August 2021 nor for the period ended 31 August 2020.
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