2022-03-31-accounts - Activities 115

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Activities 115

Charity No. 1091223

Company No. 04104081

Trustees' Report and Unaudited Accounts

31 March 2022

Activities 115 Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report		4
Statement of Financial Activities		5
Summary Income and Expenditure Account		6
Balance Sheet	7 to 8
Statement of Cash flows		9
Notes to the Accounts	10 to	18
Detailed Statement of Financial Activities	19 to	21

Page 1

Activities 115 Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 04104081

Charity No. 1091223

Registered Office

15 Erme Court Leonards Road Ivybridge Devon PL21 0SZ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

J.A. Buckley L.G. Buckley M.D.G. Dennis S.L. Dennis J.D. Stubbs

Accountants

Ivybridge Accountants Ltd 15 Erme Court Leonards Road Ivybridge Devon PL21 0SZ

OBJECTIVES AND ACTIVITIES

A large charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...

A large charity must provide an explanation how the achievement of its aims will further its legal purposes...

A large charity must provide an explanation of its strategies for achieving its stated aims and objectives...

A large charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...

A large charity should provide a more detailed explanation of its short-term and long-term aims and objectives...

Page 2

Activities 115 Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...

A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...

A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

PLANS FOR FUTURE PERIODS

A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

A large charity's report should explain the trustees perspective of the future direction of the charity...

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

J Stubbs

J Stubbs (Jan 30, 2023 15:06 GMT) J.D. Stubbs

Trustee

31 March 2022

Page 3

Activities 115 Independent Examiners Report

Independent Examiner's Report to the trustees of Activities 115

I report to the charity trustees on my examination of the financial statements of Activities 115 for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached.

Clare Stones MAAT Ivybridge Accountants Ltd 15 Erme Court Leonards Road Ivybridge Devon PL21 0SZ 31 March 2022

Page 4

Activities 115 Statement of Financial Activities

for the year ended 31 March 2022

Unrestricted funds 2022 £ - 13,608 16,060 -	Restricted funds 2022 £ - - - -	Total funds 2022 £ - 13,608 16,060 -	Total funds 2021 £ 24,243 12,511 19,764 3,081
29,668 5,844 15,316 35,010	- - 2,646 -	29,668 5,844 17,962 35,010	59,599 7,066 5,443 88,044
56,170 20,995	2,646 -	58,816 20,995	100,553 128,937
(5,507) -	(2,646) -	(8,153) -	87,983 -
(5,507) -	(2,646) -	(8,153) -	87,983 (36,059)
(5,507) 1,462,189	(2,646) 11,140	(8,153) 1,473,329	51,924 1,421,405
1,456,682	8,494	1,465,176	1,473,329

Page 5

Activities 115 Summary Income and Expenditure Account

for the year ended 31 March 2022

Income Net gains on investments Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2022 £ 13,608 20,995 16,060 50,663 52,808 6,008 58,816 (8,153) (8,153)	2021 £ 39,835 128,937 19,764
		188,536
		91,352 9,201
		100,553
		87,983
		87,983

Page 6

Activities 115 Balance Sheet

at 31 March 2022

Company No. 04104081 Notes 2022 £ Fixed assets Tangible assets 13 523,227 Investments 14 843,852 1,367,079 Current assets Debtors 15 7,911 Cash at bank and in hand 91,086 98,997 Creditors:Amount falling due within one year 16 (900) Net current assets 98,097 Total assets less current liabilities 1,465,176 Net assets excluding pension asset or liability 1,465,176 Total net assets 1,465,176 The funds of the charity Restricted funds 17 Restricted income funds 8,494 8,494 Unrestricted funds 17 General funds 1,492,741 1,492,741 Reserves 17 Revaluation reserve (36,059) (36,059) Total funds 1,465,176	2021 £ 530,735 812,314
	1,343,049 2,988 128,752
	131,740 (1,460)
	130,280 1,473,329
	1,473,329
	1,473,329
	11,140
	11,140 1,498,248
	1,498,248 (36,059)
	(36,059)
	1,473,329

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 March 2022

And signed on its behalf by:

J Stubbs

J Stubbs (Jan 30, 2023 15:06 GMT) J.D. Stubbs

Page 7

A¢livilies 115 Balance Sheet Trustee 31 March 2022 Page 8

Activities 115 Statement of Cash flows for the year ended 31 March 2022

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Loss on disposal of tangible fixed assets Dividends, interest and rents from investments (Increase)/Decrease in trade and other receivables Decrease in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Proceeds from sales of property, plant and equipment Proceeds from sale of investments Payments for investments Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2022 £ (8,153) 2,581 3,427 (16,060) (4,923) (560) (23,688) 1,500 496,412 (506,955) 16,060 7,017 - (16,671) 128,752 112,081 91,086 91,086	2021 £ 51,924 9,201 36,059 (22,845) 1,919 (9,833)
		66,425 -
		264,937
		(318,861) 22,845
		(31,079)

		-

		35,346
		222,343
		257,689

		128,752

		128,752

Page 9

Activities 115 Notes to the Accounts

for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Activities 115 Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

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

Freehold property 1% Straight line Fixtures and fittings 10% Reducing balance

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 11

Activities 115 Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 12

Activities 115 Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Charitable activities Investments Other Total Expenditure on: Raising funds Charitable activities Other Total Net gains on investments Net income Net income before other gains/(losses) Other gains and losses: Gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2021 £ 13,068 12,511 19,764 3,081 48,424 7,066 1,768 88,044 96,878 128,937 80,483 80,483 (36,059) 44,424 1,417,765 1,462,189	Restricted funds 2021 £ 11,175 - - - 11,175 - 3,675 - 3,675 - 7,500 7,500 - 7,500 3,640 11,140	Total funds 2021 £ 24,243 12,511 19,764 3,081
			59,599 7,066 5,443 88,044
			100,553 128,937
			87,983
			87,983 (36,059)
			51,924 1,421,405
			1,473,329

4 Income from donations and legacies

Fundraising Donations	Total 2022 £ - - -	Total 2021 £ 11,678 12,565
		24,243

Page 13

Activities 115 Notes to the Accounts

5 Income from charitable activities Supported living Sports & Social income 6 Income from investments Dividends & other interest on investments Deposit account interest 7 Other income CJRS support grants 8 Expenditure on raising funds Investment management costs Dividends & other interest on investments 9 Expenditure on charitable activities Expenditure on charitable activities Outreach Sports & Social income Counselling Governance costs	Unrestricted £ 971 14,345 - 15,316	Unrestricted £ 13,608 - 13,608 Unrestricted £ 16,051 9 16,060 Unrestricted £ 5,844 5,844 Restricted £ - 1,981 665 2,646	Total 2022 £ 13,608 - 13,608 Total 2022 £ 16,051 9 16,060 Total 2022 £ - -	Total 2021 £ 12,098 413
				12,511
				Total 2021 £ 19,730 34
				19,764
				Total 2021 £ 3,081
				3,081

			Total 2022 £ 5,844 5,844 Total 2022 £ 971 16,326 665 17,962	Total 2021 £ 7,066
				7,066
				Total 2021 £ 580 1,188 3,675
				5,443

Page 14

Activities 115 Notes to the Accounts

10 Other expenditure

10	Other expenditure
		Unrestricted	Total	Total
			2022	2021
		£	£	£
	Employee costs	-	-	50,584
	Motor and travel costs	388	388	412
	Premises costs	8,224	8,224	4,485
	Amortisation, depreciation,
	impairment, profit/loss on	6,008	6,008	9,201
	disposal of fixed assets
	General administrative costs	16,663	16,663	21,887
	Legal and professional costs	3,727	3,727	1,475
		35,010	35,010	88,044
11	Net (expenditure)/income before transfers
		2022		2021
	This is stated after charging:	£		£
	Depreciation of owned fixed assets	2,581		9,201
12	Staff costs
		2022		2021
	Salaries and wages	-		49,309
	Pension costs	-		1,275
		-		50,584
	No employee received emoluments in excess of £60,000.
	The average monthly number of full time equivalent employees during the year		was as follows:
		2022		2021
		Number		Number
		-		3
		-		3

Page 15

Activities 115 Notes to the Accounts

13 Tangible fixed assets

Land and buildings Fixtures and fittings £ £ Cost or revaluation At 1 April 2021 542,550 43,902 Disposals - (5,520) At 31 March 2022 542,550 38,382 Depreciation and impairment At 1 April 2021 42,550 13,167 Depreciation charge for the year - 2,581 Disposals - (593) At 31 March 2022 42,550 15,155 Net book values At 31 March 2022 500,000 23,227 At 31 March 2021 500,000 30,735 14 Investments Other investments - Listed £ Cost or revaluation At 1 April 2021 812,314 Additions 506,955 Revaluation 20,995 Disposals (496,412) At 31 March 2022 843,852 Net book values At 31 March 2022 843,852 At 31 March 2021 812,314 Freehold Investment Property The freehold investment property was acquired on 18 April 2013. The property was revalued January 2021 by Michael Dennis.	Total £ 586,452 (5,520)
	580,932
	55,717 2,581 (593)
	57,705
	523,227
	530,735
	Total £ 812,314 506,955 20,995 (496,412)
	843,852
	843,852
	812,314
	on 31

15 Debtors

Trade debtors Prepayments and accrued income	2022 £ - 7,911 7,911	2021 £ 2,112 876
		2,988

Page 16

Activities 115 Notes to the Accounts

16 Creditors:

amounts falling due within one year

Trade creditors Accruals 17 Movement in funds Restricted funds: Restricted income funds: Football donation monies Basketball donation monies Counselling Hub / Café development Total Unrestricted funds: General funds Revaluation Reserves: Revaluation fund Total revaluation reserves Total funds	At 1 April 2021 1,040 2,600 807 6,693 11,140 1,498,248 (36,059) (36,059) 1,473,329	2022 £ - 900 900 Incoming resources (including other gains/losses ) £ - - - - - 50,663 - - 50,663	Resources expended £ (1,040) (941) (665) - (2,646) (56,170) (58,816)	2021 £ 560 900
				1,460
				At 31 March 2022 £ - 1,659 142 6,693
				8,494
				1,492,741 (36,059)
				(36,059)

				1,465,176

Purposes and restrictions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost.

Restricted funds: Football donation monies Basketball donation monies Counselling Hub / Café development

Page 17

Activities 115 Notes to the Accounts

18 Analysis of net assets between funds

Fixed assets Investments Net current assets Reconciliation of net debt Cash and cash equivalents Net debt	At 1 April 2021 £	Unrestricted funds £ 523,227 843,852 98,097 1,465,176 Cash flows £	Total £ 523,227 843,852 98,097
			1,465,176
			At 31 March 2022 £
	128,752	(37,666)	91,086
	128,752 128,752	(37,666) (37,666)	91,086
			91,086

Commitments *Operating lease commitments* Annual commitments under non-cancellable operating leases 2022 Land and buildings £ Operating leases with expiry date: *Pension commitments* The pension cost charge to the company amounted to:	are as follows: 2022 Other £ 2022 £ -	2021 Land and buildings £	2021 Other £ 2021 £ 1,275

19 Reconciliation of net debt

20 Commitments

21 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 18

Activities 115 Detailed Statement of Financial Activities

for the year ended 31 March 2022

Income and endowments from: Donations and legacies Fundraising Donations Charitable activities Supported living Sports & Social income Investments Dividends & other interest on investments Deposit account interest Other CJRS support grants Total income and endowments Expenditure on: Investment management costs Dividends & other interest on investments Total of expenditure on raising funds Charitable activities Outreach Sports & Social income Counselling Total of expenditure on charitable activities Salaries/wages Pension costs Motor and travel costs Travel and subsistence Premises costs	Unrestricte d funds 2022 £ - - - 13,608 - 13,608 16,051 9 16,060 - - 29,668 5,844 5,844 5,844 971 14,345 - 15,316 15,316 - - - 388 388	Restricted funds 2022 £ - - - - - - - - - - - - - - - - 1,981 665 2,646 2,646 - - - - -	Total funds 2022 £ - - - 13,608 - 13,608 16,051 9 16,060 - - 29,668 5,844 5,844 5,844 971 16,326 665 17,962 17,962 - - - 388 388	Total funds 2021 £ 11,678 12,565
				24,243
				12,098 413
				12,511
				19,730 34
				19,764
				3,081
				3,081
				59,599 7,066
				7,066
				7,066 580 1,188 3,675
				5,443
				5,443 49,309 1,275
				50,584
				412
				412

Page 19

Activities 115 Detailed Statement of Financial Activities

Rates Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Fixtures and fittings Loss on disposal of tangible fixed assets Bad debts Bank charges Equipment repairs and maintenance General insurances Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other recognised gains and losses Losses on revaluation of fixed assets	443 2,765 298 4,718 8,224 - 2,581 3,427 - 86 - 5,606 17 1,793 1,955 65 - 7,141 22,671 180 746 2,801 3,727 35,010 56,170 20,995 (5,507) (5,507) -	- - - - - - - - - - - - - - - - - - - - - - - - 2,646 - (2,646) (2,646) -	443 2,765 298 4,718 8,224 - 2,581 3,427 - 86 - 5,606 17 1,793 1,955 65 - 7,141 22,671 180 746 2,801 3,727 35,010 58,816 20,995 (8,153) (8,153) -	333 1,956 1,636 560
				4,485
				5,786 3,415 - 7 117 1,992 5,263 - - 5,805 - 186 8,517
				31,088
				180 720 575
				1,475

				88,044
				100,553 128,937
				87,983
				87,983 (36,059)

Page 20

Activities 115 Detailed Statement of Financial Activities

Activities 115 Detailed Statement of Financial Activities
Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- (5,507) 1,462,189 1,456,682	- (2,646) 11,140 8,494	- (8,153) 1,473,329 1,465,176	-
				51,924
				1,421,405
				1,473,329

Page 21