REGISTERED CHARITY L¥UMBER: 1094742 ort of the Trustees 2nd Unaudited FinYdncir41 Statements for the Year Ended 31 December 2024 for Abe lasl Mountain Rescue Teoni Dunn & Elli5 Cyf Chartered Accountants Adeilad St David's Building Stryd Lombard Street Porthmadog Giwedd LL49 9AP
Abe lasl n Mountain Rescue Team Contents of the Financial Statements for the Year Ended 31 December 2024 Page Report of the Trustees Independent Exanner'S Report Str4temellt of FIn2claI Activfitie$ Balance Sheet Notes to the Financial Statements 9 to 12 Detailed Strdtement of Flnan¢ial A¢tlvltles 13
Aber lasl n Mountain Rescue Team Re ort of the Trustees for tILe Year Ended 31 December 2024 The trustses pr¢sent their r¢port with the financial statements of the charity for the year eThded 31 De¢embeT 2024. The trustees have adopted the provisions of Accounting 2nd Reporting by Chatilies.. Statement of Recommended Practice applicabl¢ to charities preparing their accounts in accordance with the Fin2ncial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The Ab¢rgla51yn Mountain Rescue Team was forn]¢d in 1996, making it ttLe youngest team in north Wales. Prior to the forn]ation of the team an ad hoc Rescu¢ PostlTeam was in place at Aberglaslyn Hall Outdoor Education Centre. It was decided that a tnore fornial rescue serYi¢e was needed and AMRT was born. The Team is affiliated to tbe North Wale$ Mountain Rescue Association, Mountain Rescue England and Wales and operates in North West Wales, an area of aPPfOXiUfdtely 750 squaTe kilometres. These regions are populdr walking, scrambling and climbing areas and include the Nantlle Ridge, Moel Hebog and its satellite peaks. Tremadog cliffs. Cnicht and the Moelwyn.The Team also covers the whole of th¢ Ll¢Jn Peninsula. AMRT is made up entirely of unpaid volunteer5 of various backgrounds, who are on call 365 days a year 24 hours a day and will attend an incident at any locatioll and in ally weather. The Aberglaslyn Mountain Rescue Team is not only dedicated to rescuing mountaineer5, clinthers and walkers, but is incr¢asingly called upon to assist the Police in searching for p¢opl¢ missing in an urbaij envirollnnt. The Team also asslsts HM Coast Guard, the Ambulance Service, Fire and Rescue and Cave Rescue when required. The Tean], like all the other Mountain Rescue Teams in Wales and England have to iely on their own members and voluntary contributions for raising funds to support Team training, purchasing new equipment, nIntenanCe of the vehicles, and day to day running of the Team. The charity itself was registered with the Charity ConmliSSAon on 22 November 2002 and as such Ab¢rglaslyn Mountain Rescue Team (AMRT) ig a registered charity that operates in Nortb W¢$t Wales and Snowdonia. We are staffed by approximately 38 volunteers and are on call 24 hours a day, 365 days a year. Its rnain objective is to relieve the suffering and distress amongst indtviduals and groups endangered by accidents or nattjral hazards and to provide adequate arrangements for the secure and ¢ffi¢ienl search and r¢$¢ue of anyone so endangered. AMRT does this by providing a search and rescue service, not just on the rnountaÈns but covering the whole of Nortb West Wales, Ancluding urban and rural areas and along the coasts of North Wa]es. thereby providing a service to the whole of th¢ ¢ommunity. In providing this service we work Closely with all of the other emeT8¢ncy services, including PolKce, Arnbulance, Fir¢ Brigade, Coast Guard, RNLI, RAF Mountain Res¢u¢, Bri5tow Search and Rescue and the Air Ambulauce. Pag¢ I
Aber la51 n Mountain Rescue Team urt of the Truslees for the Year Ende4131 December 2024 OBJECTIVES AND ACTIVITIES Significant ¢tivities Aberglaslyn MRT covers a larg¢ ar¢a of North West Wales and the Snowdonia National Park" approximately 750 square kilometres. The Team provides Search & Rescue Services in areas sucb as the Lleyn Penillsula, Yr Eifl, Nanllle Ridge, Moel Hebog, Cnicht and the Moelwyn. Tbere are also nlY popular climbillg areas, which include TrendOg, Carr¢g Hylldrem, Cwm SilY and Craig y Llyn. The AbeTglaslyn MRT area tends to attra¢t people wbo looking to get away from the more popul and som¢tim¢s overcrowded footpaths and crags of Northern Snowdonia. The Team can be called out at any time of the Day or Night, to assist the Police in their emergeney response duties. Call outs range from the obvious Climbing accidents and injur¢d or lost Nvalkers, to searches for children and th¢ elderly missing ill Urban Areas. We ivork c105cly with our ncighbowing Tearns, Llanberis. South Snowdonia Rnd Aberdyfi, are often called in to help the Search Dogs (SARDA Wales) if th¢y are in our atta, as they often need Navigators with good local knowledge for the Dog IIandlers. If available, Bristow Search and Rescue, based in Dinas Dinlle are called in to assist us from time to time, they are very US¢fi for searching areas and moving troops from the rendezvous to the incident SLte, so savtng a lot of time. They also airlift the casualty to Hospi1, which is b¢tter for th¢ casualty and the Team's backs, as it takes at l¢ast a party of twelve to carry a stretcher effici¢ntly for any length of time. ALI Call Outs start wilh a pag¢r rnessage from the Police to the Team Leaders informing them of an incident and to phone Control for more inforrnation. The Team Leader will then asLcrtain whetli¢r th¢ whole Tearn Theeds to bc called out or whetljer a few memb¢rt who arc closc at hand ¢an deal with it. Very oftcn thc firsl riports are sketchy and a lot of fact-tinding is n¢ed¢d before the Team is actually depliiyed but on average we hav¢ 15 people attend a Call Out. Example$ activities undLrtdken websit¢.'http'.Ilwww.aberglaSlyn-mrt.orind¢X,htrnI during 2024 can a¢¢ess¢d from our Public benefit The trustees believe that they have complied with the duti¢s as sel out in Section 17(5) of the Charities Act 2011, that is to have due regard to the public ben¥fit guidance publAshed by the Charity Cotnmi5sion. Volunteers As already mentioned, we are staffed by approximately 38 v()luriteers, who ensure that a fvlly staffed team is available to respond all year round. We ensure that our volunteers are adequately pr¢par¢d for any eventuality through the provxsion of regular trdining sessions. The Team members train every Monday night at 7pm at various locations, and also once a month on a Sunday. The Training is varied, and encompasses the training guideline5 set by the Mountsin Rescue Council of England and Wales. We also use different venues for Training piwses, so that it presents a more rcalistic scellario. as we have no way knoiving lIat the next incident will entail. Training includes at 1ca.gt onc 1st Aid, Navigation and ropework session p¢r month. All Team Members are encourag¢d to help and run Training Sessions as thi8 benefits all. Whenever possible Tea Mernbers train with other local Rcs¢ue TeanL% including the Search Dogs, as this promotes good working relations and experience amongst the Teams. FINANCIAL REVIENV FinAllcial position At tlie 31 st December 2024, the Gharity bad general fimds of £55,812. Page 2
Aber 2s1 n Mollntydin Rescue Team Re ort of the Trustees for the Year Ended 31 December 2024 FINANCIAL REVIEIV Prineip&l funding sources AberglaslJTh Mountain Rescue T¢¥4rn is funded almost ¢ntirely by voluntary contributions. some come by post from people who w¢ hav¢ rescued or have been with the people that were r¢scued. We also attend local shows wher¢ we have a raffle like stall with collection boxes. Car boot sales also raise money quickly but are very time consuming. Local clubs sometimes ask us to come and give them a talk about our work and exp¢riences. for which we receive a donation and we have collection boxes in the local shops and pubs provide us with a steady supply of donations. In addition we are also able to r¢c¢iv¢ donations via a number of different ways on our http:Ilwww.aberglaslyn-mrt.orgldonation.html. website.. ExpeThditure policy and objectives Mountdill Rcsknue an)s n¢¢d large amounts of specialist equipment to help them save lives, and AMRT 18 no different. For example, the team has four str¢É¢bers, which c05t about £2,000 ¢h. These are designed for nuntaill use. including lowering Casualties down vertical ¢liff8. Th¢ team also hag to have climbing equipTnent such as ropes, slings and karabiners, and fjrst aid ¢quipment ranging from bandages and splints to a Vacuum Mattress. which is a thin mattress that ¢an be shaped io fit a casualty who's POSltion can't be changed, such as with a susp¢ct¢d back injury. Wh¢n the air is pumped out of the mattress It 'solidifies' and supports the whole body enabling the casualry to be moved safely off the mountain. AMRT has two modifled picknps, as well as a Ford Transit Crew van, wl]i¢h can cary team mernbers and equipm¢nt. All our vehicles are capable of carrying walking wounded and on¢ has beetl adapted insidc to carry a casualty on a stretcher. The four-wheel drive capability of tb¢ Plcknps are utilised regularly in the rugged terrain of North Wales. Most of the team's funds go towards nIntainIng and replacing vital equipment and on the vehicl¢8 such a5 the new water rescue craft purchased during 2017. Reserves polley Although it is intended that tUre activities of the charity are to be nded by future income, the charity's re5erv¢$ provide <7 buffer should ther¢ be any downtrjm in donation5. The ¢Trthrity aims lo mdiiilain rL8crves of at least one year of operating costs, which is approximately £35,000 al CUellt expenditure rates. STRUCTURF., C.OVERIYANCE AND MANAGEMENT Governing doeument The charity is controlled by it5 governing documenL a d¢ed of trust and constitutes an unill¢orpor&t¢d Charity. The pr¢s¢nt constitution was adopt¢d on l July 2002 and amended on 14 O¢tober 2002. Key management remuneration The trustees consider themselves to be the charity's only kcy management and as such are in cbarge of directing and contorting the charity as well as for rLUllLing and operating the charity on a day to day basis. All tru¥iccs givc thcir time freely and no trustee remuneration was paid during the year. If any tntstees, expenses or related party transactions are incuLTe( these will be disclosed in Éhe not¢s to the accounts. Trustees are required to disclose all rel¢vant interests and register them with the cl178. REFERENCE AIYD ADMINISTRATIVE DETAILS Registered Charity number 1094742 Principal address Hafod Ruffydd Isaf Beddgekert Caernarfon Gwynedd LL55 6UU Pase 3
Aber lllsl Mountafin Rescue Team ort of the Trustees for the Year Ended 31 December 2024 Trustees Mr A Leech (resign¢d 4.9.25) Mt5 N JeJthins (resigned 10.3.25) Mr D Evans (resigned 10.3.25) Mr S Meades (appointed 29.9.25) A Tucker (appointed 10.3.25) Mr R Bary (resigned 29.9.25) Mr E Hawkitis {app(Trinted 4.9.25) Independent Examlner Mr Huw Trystan Wilcox FCCA ACA Dunn & Ellis Cyf Chartered Accountants Adeilad St David's Building Styd Lombard Street Porthmadog Gwynedd LIA9 9AP Bankers HSBC PIC 62 Styd Fawr Porthmadog Gwedd LIA9 9LN Accountants Dunn & Ellis Cyf Cbarter¢d Accountants Adeilad St David's Building Styd Lombard Street Porthmadog Gwynedd LL49 9AP TRUSTEES, RESPON.8IBILITY STATEMENT Th¢ trustees are responsible for preparing the Report of the Trustee$ and the fmancial statements in accordance with appli¢able law and United Kingdom Accounting Standards (United Kingdom Gen¢rally Accepted Accounting Practice). Charity law requires the trustees to prepar¢ financial statements for each financial year. Under that law, th¢ trnstees have elected to prepare th¢ financial statements in accordance ivith United Kingdom Generally Accepted Accounting Pra¢tir¢ (United Kingdom Accounting Standards and applicable law). Ulldei chaiity law the trustees must not approve the financial statements unless they are satisfied that thcy give a tNe and fair view of the state of aftairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the Gharity for that p¢riod. In preparing thos¢ fJnan¢ial statements, the trustees are required to select suitable accounting policies and then apply them consistetLtIyJ observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable arLd prudent. prepare the fjnancial statements on the going concern basis unless it is inappropriate to presume that th¢ charity will ¢ontinu¢ in business. The trust¢es ar¢ responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the finan¢ial position of the cbarity and to ¢n2ble them to ensure that the financial statements comply with the ChaTities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are alsD responsible for safeguarding the assets of the charity and hence for taking reasonable st¢ps for the pi'evention and detection of fraud and other irregularities. Pag¢ 4
Abel" lasl n Mountain Rcscue Team ort of the Trustees for thc YcAr F.nded 31 December 2024 Approved by order Ihe board of trustees on . , and Skgned on its behalf by: Mrsme ru5tee Page 5
Inde Aber endent Examiner's Re ort to the Trustees of lasl n Mountain Rescue Teamn Independent examiner's report to the trustees of Aberglaslyn Mountain Rescue Tea I report to the charity truste¢s on my exaLnination of the accounts of Aberglaslyn Mountain Rescue Team (th¢ Trnst) for the year ended 31 December 2024. Responsfibilities and basis of report As the chlty trustees of the Trust you ale responsible for the preparation of the accounts in accordauGe wlth the requirem¢nts of the Charities Act 2011 ('the Act?. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Conllnission under Section 145(5)(b) of the Act. Independent examiner's statement I have completed my exarnination. I confimi that no material matters have co¢ to my attention in connection with the examillation giving me cause to believe that in any material r¢spe¢t'. accounting records were not kept in respect of the TTUSt as required by Section 130 of the Act. or the accounts do not accord with thoge records. or the accounts do not ¢ompEy with the applicable requirements Concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any r¢quiremcnt that the accounts give a trne and fair view wbich is not a matter CODsidered as part of an ind¢p¢od¢nt examination. I hpAVC no concerns and have ¢om¢ across no other rnatters in connection with the examination to wbich attention should be drawn in this report in order to enable a proper understanding of th¢ accounts lo be rea¢h¢d. Mr Huw Trystan Wilcox FCCA ACA Th¢ Inslitute of Chartered A¢¢ountants in England and Wales Dunn & Ellis Cyf C'hartered Accountant5 Adeilad St David's Building Styd Lombard Street Porthmadog Gwynedd LLA9 9AP Date.. 10 Page 6
Aber lasl n Mountain Rescue Team Statement of FiDall¢ial Actiyfities for the Year End¢d 31 Dceember 2024 31.12.24 Unrestricted fund 31.12.23 Total nds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 27,914 30,862 EXPENDITURE ON Charitable activities Mountain rescue 27,437 31,874 Other 4,779 5,956 Total 32,216 37,830 NET INCOMEI(EXPENDITURE) {4,302) (6,968) RECONCILTIoN OF FUNDS Totsl funds brought forward 59,474 66,442 TOTAL FUNDS CAiiRIED FORWARD 55,172 59,474 CONTINUING OPERATIONS All incomc dnd expenditure ha$ arisen from continuing actlVLtie8. The notes forni part of these financial statements Page 7
Abcr lasl n Mountain Rescue'feam 112l¥tnee Sheet 31 Deccmber 2024 31.12.24 Unrestricted fund 31.12.23 Total fiinds Notes FIXED ASSETS Taiigible assels 36,169 39,422 CURREI NT ASSETS Debiors Cash ai bank 1,399 19,904 2,592 18.649 21,303 21,241 CREDITORS Amouiits falling due within one year (2,300) (1,189) NFT CURRENT ASSEI TS 19,003 20,052 TOTAL ASSETS LESS CURRENT LIABILITIES 55,172 59,474 NE'f ASSEI',S 55,172 59,474 FUNDS ljnrebli'icted funds 55,172 59,474 'I'OTAL FUNDS 55,172 59,474 The fi anc atements were approved by the Board of TNSt¢es and authorised for issue and wcre signed on il8 behalf by.. on Mrsme TrLI tec 'I"he notes forni purt oftELese financial statetnents Page 8
Aber lasl n Mountain Rescue Team Notes to the Financial ,8tatements for the Y¢2r Ended 31 DecetThber 2024 ACCOUNTING POLICIES Basis of preparing the fmanclal statements The finan¢ial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Clwiti¢s SORP (FRS 102) 'Accounting and R¢porting by Chariti¢s: Statement of Recommended Practice applicable to charlties preparing their accounts in a¢cordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reportlng Standard 102 'The Financial Reporting Standard appliGable in the UK and Republic of Ireland, and the Charities Act 2011. The fmancial statenntS have be¢n prepared under tkn¢ historical cost convention. Th¢ financial statemellts have b¢en prepared to give a 'true and fair. view and have departed from the ChitIeS (Accounts Reports) Regulations 2008 only to the ¢xt¢nt requiied to provide a 'true and fair view,. Tbis departure has involved followingy Accoullting and Reporting by Chariiies preping thcii accounts in accordance witb the Financial Reporting 8tandaTd applicabl¢ in the UK and Republic of Ircland (FRS 102) issued on 16 July 2014 rather tban the Accounting and Reporting by Charities: Statement of Re¢ommend¢d Practice eff¢¢tive from l April 2005 which has since been withdraThTr. The trustees consider th&t there are no material uncertaintie5 about the charitys ability to continue as a going concern. Con8¢quently, tliese financial stateinents have be¢n prepared on the assumption that the charity is abl¢ to carry on its activities as a going concern has adopted the ac¢ruals m¢thod for recording th¢ir incom¢ and expendittwe. Income All incorne is recognised in the Statement of Financial Activities once the Charity has cntitlement to the fill8, it is probable tbat the incom¢ will be receiv¢d and the amount Can be measured r¢liably. Expenditure Liabilitics are reaognised as expenditure as soon a5 there is a legal or ¢onstru¢liv¢ obligation committing the charity to that expenditure, it is probable that a transfer of econorntc benefits will be reqiiired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounlcd for OD an accrnals basis and has been classified under hcadings that aggregate all rost related to the category. Whcre costs cannot be directly attributed to particular headiiibys thcy have been allocated to activities on a basis consistent ivith the use of resources, Tan2ible fixed asset5 DeprcLiation 15 provided at the following annual rates in order to TIle off each &sset over its estimated usefjjl life. Freehold property Plant atid maLhin¢ry Motor vehicles Comput¢r equipment 20/0 on cost 20f/tro on reducing balance 20/0 on reducing balance 20% on reducing balan¢¢ Fixed assets are stated at their cost prices, less accumulated d¢preciation and less amounts recognised in respect of impaimient. TaxatlOD The charity is ¢x¢mpt from tax on its charitable activities. Fund actounting Unrestricted funds can be used in accordance with the charitable objectives at Ihe discretion of the trustees. Restricted funds can only b¢ used for particular r¢stricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when fimds are raised for particular restiict¢d Pu05gS. Further explanation of the nattlre and pUOse of each ftmd is included in ihe notes to the financial statern¢nts. Pag¢ 9 continu¢d...
Aber lasl n Mountain Rescue Team otes to the Financial Statements - continlled for the Year Ended 31 December 2024 TRUSTEES, REMUNERATION AIYD BENEFITS There were no trustees, Temuneration or other benefits for the year enda 31 December 2024 nor for tbe year ended 31 December 2023. Trustees, expenses There w¢re no trustees, expenses paid for the year ended 31 D¢¢ember 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestri¢t¢d fjjnd INCOME AND ENDOWMENTS FROM Donations and legaLies 30,862 EXPENDITURE ON Chorltable activities Mountain rescue 31,874 Other 5,956 Total 37,830 ET JNCOMEI(EXPENDITURE) (6,968) RF.CONCILIATION OF FUNDS Total funds brought lonvard 66,442 TOTAL FUNDS CARRIED FORWARD 59,474 TANGIBLE FIXED ASSETS Fi'eehold propety Plant and machinery Motor v¢hicles Computer cquipment Totals COST At l January 2024 AdditAons 25,837 12,821 1,526 51,001 5,771 95,430 1,526 At 31 December 2024 25,837 14,347 S1,OL)I 5,771 96,956 DEPRECIATION At l January 2024 Charge for year 6,201 517 9,035 1,062 37,806 2.639 2,966 561 56,008 4,779 At 31 December 2024 6,718 10,097 40,445 3,527 60,787 NET BOOK VALUE At 31 Decembei 2024 19,119 4,250 10,556 2,244 36,169 At 31 December 2023 19,636 3.786 13.195 2,805 39,422 Page 10 eontlnued...
Aber lasl Mountain Rescue Team Notes to the Flnaneial Statements - continued for the Year Ended 31 DeceD]ber 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 VAT 1,399 2.592 CREDTTORS: AMOUNTS FALLING DUE TllIN ONE YEAR 31.12.24 31.12.23 Trade creditors Other creditors 810 1,490 425 764 2,300 1,189 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds G¢neral fund 59,474 (4J02) 55,J72 TOTAL FUNDS 59,474 (4302) 55,172 Net movement in fimd8, included in tbe above are as follows: Incoming resources R¢$our¢es expended Movement in filnds Unrestricted funds General fund 27914 (32,216) (4,302) TOTAL FUNDS 27.914 (32,216) (4,302) Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 66.442 (6,968) 59,474 TOTAL FUNDS 66,442 (6,968) 59,474 Page 11 continued...
Aber lasl n Mountain Rescue Team l¥otes to the Financi¥dl Statements - continued for the Ye#r Ended 31 December 2024 MOVEMENT IN FUNDS- continued Comparative net movement in fiTnds, included in the above are as follows.. Incoming resources Resourc¢s expended Moven]ent in funds Unre5trieted funds General fLU]d 30,862 (37,830) (6,968) TOTAL FUNDS 30,862 (37,830) (6,968) A Cuttent year 12 mollths and prior year 12 months combined position 1$ as follows: Net movement in funds At 31.12.24 At 1.1.23 Unrestricted funds General fimd 66,442 (11,270) 55,172 TOTAL FUNDS 66.442 (11,270) 55,172 A current year 12 months and prior year 12 months combined ttet movernent in fjjnds, includ¢d in the above are as follows: Incoming resources Resources expended Movernent in fijnds Unrestricted funds General fijnd 58,776 (70,046) (11,270) TOTAL FUNDS 58,776 (70,046) (11,270) RELATED PARTY DISCLOSURES There wer¢ no r¢lat¢d paty transactions for tbe year ended 31 December 2024. Page 12
Aber lasl n Mountain Re5ce Team DetAiled Statement of finantial Activities for the Year Lnded 31 Deeember 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donatiolls and legacies Donations 27,914 30,862 Total inco]ning resources 27,914 30,862 EXPENDITURE Charitable activities Rent Insurance Light and heat Telephone Postage and ststion¢ry Advertising Sundries Bas¢ op¢rating and maintenance Motor expenses Repairs & renewal of equipment Subs¢riptiOJL8 1,500 1,481 679 539 170 1,674 848 348 900 201 220 175 2,917 5,184 17,958 420 221 437 3,587 13J73 420 22A07 30,845 Other Freebold propety Plant and machinery Motor vehicles Computcr equipment Loss on sal¢ of tiing>ibl¢ fixed assets 517 1,062 2,639 561 517 947 3,299 701 492 4,779 5,956 Support costs Finance Bank charges 77 85 Information technology Training courses 4,009 Governanee costs Independent examination fte Accountancy and legal fees 200 744 200 744 944 944 Total Tesources expended 32216 37,830 Net expenditure (4J02) (6.968) This page does not forni part of the statutory finall¢ial slat¢tn¢nls Page 13