**REFORM RESEARCH TRus·1 (a com1>:tn) limited b) guarantee)** 

## **FINANCIAL STATK�IE NTS** 

**31 Dl�CE I\IBER 2022** 

## **CONTENTS** 

|Charity Rd"t:rence and Adm111istra11ve Dclails||
|---|---|
|Trustees' Annual Report|2-5|
|Independent Examiner's report||
|Statement or linanctal activity|7|
|Balance shed|8|
|Statement or cash nows|9|
|Notes lo Lht: financial stalt:mt:nts||



**Comp:111) registration numher: Registered charity number:** 

**05064109 1103739** 



RffroRIII RLSCARCII TRUS"r
CI IARI-ri' iiri.'EIILIYCC ANI) AI)111 INI 'lSlRA-I'IVtr. I)E'I.411
FOR TIIE I"EAR ESDED 31 DECChlBCR 2￿72
C.liarili' n'iJiiLh:
Relorin K¢sc.iThh Tri￿1
C.li:Irili' niin)l)I'r.'
110.7731)
Ciiiyipani. nuiiil)Lr.'
050641 (￿}
Trii&(L'L￿.
J F PTrlinLr (Chl£ irl
G S 14u) Ig IAppoinled 76,'091??I
C E D'ii ies
J W Sill¢m
r)r i. n stoiinenowa
C E PiiklLS
riiiiipal :IddrL'.&s
5_6 Si M:iiih¥ii. SirLX'I. l.onilvn, SIV IF) 2J-T
Indi'pi'iidlint
'hL"l11.'ill E Siidiyorili Liin]lL￿, Lli.InL'fLd ALLoiin141llis. .)) WI51LpiilL,
-liidJL'f*liLld, 111) I I PA
l.loyd5 14£ink
I I.LL,, Sire¥t
hiliiislvrLI
CMI IJS
Sulicilurs:
W Ilsons. AlL1￿1ndr7￿ l.loiisL., Si. Ji)lin5 SirLLI, S.Ilisbiiry. Illjlishirl. SP I ?SB

I1￿.1."01<￿T RESLARCII TRUS'r
,'S'I'I-. LS, ANNUAL RLI I'OII'I" TrOR'I"IIL I'LAR EIN'I)El) 31 1)iCEhlBCR ?1)22
'l)L 'l'riisliL.8 11.liu .4rL ilsn dirLLturs ol- IIIL Lh1rily for IhL piifposLS of iliL LoiiiiYiiniL_s ALI ?OOl>. rfrrLSLnl IIILir rLP(Irl
iolTrLilILr ii'iil) Il)¢ lininLi:I1 s1:Jl¢in¢nls ol-il)¢ il)*iril)' lor Ilie ye.Ir ¢nd¢d .1 I r)¢LLiiiber 711?? ii,IIELli ir¢ i& Iso tprep?I'LII li)
ii)eel Ili¢ r¥<iuirriiicnlS lor i direLlor5' i¢pun .Ind ILLOiliiiS fi>r Cvinpinie5 Ali piirpuses.
-rilL lin:InLiiI sl:ItelllLnl> li.'IVL prLP-IfL'Il in iLiorcLinL¢ li lili ihL aiLoiinling roliLILS SLI oui in Ili¥ iiolis lu IIiL
IILviinls cin(l ioiiipl}i ii'jili IliL ili:Irily s IIOI'LininLI IloiUiiiLni. IliL Coiiip:Inies ALI 7006 tin(I 'ALLoiiiiIin￿. Éin(I
RL'poriinL bi, Cl)1riliL.s.' Siif ILtIILIii L)I' I<LLiII)IIIILndLIl I'r.ILtILL ipp1ll￿1bI¢ 11) Lliii riliLS pfLP.Irinil
Jiniiilry ?0191.'
-rile DireLiors u1- Il)e Lh4irilibl¥ ioinpiny (Ihc iliarily}'Ire ils Trus1¢¢5 for ilie piirpos¢s ol-Lli<irilv1l1 Il, nd IlirouL,Iii)Iil
Iliis rL't)ort iifc LolleLlivLly rLlerrL(110 15 lh¢ Tnisi¢LS.
ThL Ch*irily is Li)IiilLd lo ilic LILinplion from prL'pi& [jiii> .7 51nfL"ii fLIM)ri.
0￿1],.C.-riVES ilCI"IVI"I'irs
'hL prinlip-ll 4lLlii'ily of il)L ColllP?ny in ili¥ y¢iir vnilLr rL•ViLlV lY.Is Ilk'ii ol':1 rLblSILfLYI Ll).ryrily Iv SilPPL)fl Ili¥ ol)jLLI
SutiiJii:Iri' i)r IhL' III)jL'il% 1)r ilii. Lh:Irili'
l-lie R¢lorni Keie.'IrLlI -fnibi li-ls il)¢ lulloiK'inLD ohj¥LI'. 'To :iili:Iiiie tIIL ¢Jiii Ilion ol. Ili¥ piihlii Llnd In p:Iriiiiil&if li)
proiiiol¢ lor ilie PLibliL tKn¢lil fL%earLh into n111lers ol. piibliL poIILy :Ind 10 dissei))Inil1¢' lh¢ LLs¢liil r¢sLilib IliLreol'
PLiblii poIiLy lllL'clllS lh¢ LLonoiiiiL cin(I suii.ll iiiipliLfjltions of hioi'¥rniiiLnl poliiy in(1 ihL opLf￿1I1On ol. Ill￿7rKL1S, In
Iiiil In-In¢?LLinLni ol- Ili¥ ¢xonoiiiy, Ili¢ proi Ision ofpiihlit sLrvlLes iiiiil 11lL
sli'iiLliirL anil SilL ol. n:Ilioniil 11 nd loiil Ivoi'Lrniii¢nl, boih in iIiL L TnilL(l KiniJ(l()In 'in(14ibroild.
l)ul)IiL I)L'llL.fs1 :Ind L.IiLFjlijljl!' crilL'ri
TIIL TruslLiS Lonl Irin th￿1[ IhLy h1I'L fLfL'rrLd lo ihL &viiidin¢L cont.IinLYI in ihc Cliiirily Coinmission's L>LnLril Liiij(111 111
oli piiblii b¢n¢fii ii'li¥ii rLI'iLivini?
Il)L ori)ani&ilion's ailns lind obJeLIii es cll)d in pl.'iiininb liiliir¢ ilLlii. ili¥s.
-IIL -1 nisl's fLseÉ2rLII is LnlirLly diriilLxI .11 piiblii IK'nLlil :Inil ass(K liilLxI ¢lLtii'iliLS %upporl tli.Il.
IIC.IIIIVEfy.IEN'TS i¥r.RfoRIIAINCE
In AILliiii)n ?0?? l£eforni 5IILL¢ssliill)' 141LinLhed ils 11)¢iJor n¢iY slniei
y 'Rclin1￿ ijininil IhL Si&ile' TIIIS iv:i% 11)iiikLII h
thL PLiblic-Ilion ofin es5.iy by tlic Dirlcior outliningD ihjs n¢iv ph:￿¥ of RLforiu's ivork.
'I-IIL' LS&iy fLiobinises iliL. IiuKL'iin¥n(&il role ihiit ihc SiilL pliys in ihe hL'iilih 41nd pr05PLriiy of IhL nillion. hLiI IclyS 0111
Ihi L41SL lor :} liind.IinLni1￿ I rL'tliiiik of ils roll 2nd shapL. Tlirouiili tlic 'RLllll¢li¥ininii
IIIL Stillc proi•fiiillllL, IILlihriii
will PLII lorivard bold idea5 to Ir¢inslorm lh¢ 8i#il¢ inlo one ivhich 15 rnabliniD diplive, oiilLonies-foLus¢d:'Ind L:IP<ibli
ol- lunb-IL'rffl plii flning.

1114 roll￿.] 141=, SC*lRC.I I 'i'iius'r
'IIUS-I'Tr:Tr.S' ANINUA I. IILI>OII'I- FOH 'I'I I E I'LAR II N'l}LD 31 1)fr.CEN'I Illl l{ ?022 (Cibi)liiitlLYI}
RLforiii Iso I:ILillLlied Ilie lirsi 1114) ivork. prol7r.￿Mm¢S Lind¢rpinninb? Ihis ngii, slrile¥y'. R¢itnigiiniiiLI l-l¢ilil)' :111(1
AlonLvsid¢ Ili¢ leller. R¢furni publisliLLI $7 Iraining Pliper. liyinLI {)ul Il)¢ Iiirrenl $111¢ of Ilie heilili 5eri'iLL,
LlifjillLniDini? Loiniiion &1ssLinipiions ?boiit ii'liiL t is (Irivini>
poor p¥'rlotm4inLL :Inil ILI)'InLk oui iliL fL'SW4irih ¢if¥41% Il'L II'III
Loii%idLI' IhTviibli illi proibf:IliilllL. ThL' viilLOII)L ¥i'iII IK. l Elill. bliiL'prinl lor hL*ilil) :Ind LifL In Ilii.S Loiiiilr),.
As p.iffl ol-lhis proLDfiiiiini. RLlonn his ilso PlLblish¥"d.1 sliorl. (Liii-drivLn ￿￿n￿llYSiS u1- Ivli,Il is driving Illi A&r
Iiifbi&11ions io idyniily poor sninagiemeiii, nol .1 slionJL¥¢ of s1i11Tor inLf¢4lS# JJ)
Lrisis, mikinii lis ollL ol- Ili¢ lirsi or_
(ILiii:Inil, as ihe priliiirv i5SIIL. In &idililion, ii'L PLiblish¢d.In in41L'pih. eoi)Ip:Ir.iiii'e P¢lPLr lookin￿r it ii'li.'ii ILssun4 11)¢
11 K Liii IL,Irn froiii l)Lllili SySlLins :Ibro.Id. m.Iny of ii.hiih arl d¢lii'LrinL? b¢llLf OUILOIIILS. Boil) pi[￿r￿, is Il'LII 4L4
p.Ip¢r, li.ii'i fkL¥iI'Ld ionsid¢nble Lnv•:IIILIIILfki froin wgliliLiinS and olliLi'ils.Ind Relorni l)iiS hLLII
?%kLd lo presLnl IhL liiiilingis Éil tIiL Dl￿nn)lnt of Hciilih nd SoLi,Il Cir¥'.
IILllll4iLiining IVhiiLliill' ivis Iiilnilied ii'iili an L&%iiy bv RL.fonii s DirLilur of ljoliL}' iIILniiljiini* IlirLe kLK
p￿111]010￿41l'S iind¥rininini¥i PLrfi?rn).'InLL.' lh¥ POIVLr-hoirdiiiii
bi.Is, IhL SIIIII
,iiblL l(IL-15 Ivr lioii. l*) oi¢rL'oJne il)esL. il'iih 8lioti. i11ip:ILI lill Pilpirs iinLIL'I- IIIILI,
IIILI))L'S'. Neil. fvliii(I%LI.4. Il¥iiiirini> IIIL LLniri
itKI DL'i¥iilnli5inb Poii'lr. l)IPLrs io bl piihlisli¥d (liiriiiLI ?(1?3 li 111 l()(Jk
Il IIIL b:Irricrs lu IVliilLlii511 r¥lvi'iii. dLI'uliiliun. hoi%' Iu iiilii¥l'¥ I'alii¢ lor muney iiiinc15L'I. and Iioii. Iv LI%L SLliniili¥
LXPLfiisi.
I'o ILirihLr enliLinii' oiir Inissioii lu ￿. IIK hviiiL ol- bolil icle.?5 and bigv konvLr&iiions. 70?? sJii' us l.IUllLlI IILliiriii
Siliul:Ir5, IIIL lirsl li)mi11 Ihink i.'iiik- proLf4iniiiiL for l￿rI)._ to mid•LcifLLf i￿ LidillllLS. TIIL progirimiiiL' Ivill iclL'nli l),
n¢ii' Iliinkinby ind lindinL7S Ironi ili¢ ¥iillinLI ¢Lli¥e ul'4lL'idLiiiia and brinLJ il lo bL41r i&v:iin51 Ilie LoiiiplL'A puliij,
Lli:IlleiibJLS ofili¢ Loniinb jeiirs. IV¥ If¢ tl¢.li,.liiLd Ilkil our firsi coliorL ol. LillivLf5ily P41rtnLrs rLpfLS¢I)li IIiL. ILIII
eng>ili ol'ilie Loiinlry: Ilnii'Lrsiiy ol'M?nihL'Sl¢r. Ili¢ Uniyersily ol- Sl)¢rrield. Ilie lJnii'¢rsily ol. Yurk, Illi Ilniiiersil )'
ol- Birmingkhcim. Iiiiperi,Il CollLkng>L London 1nil King's ColleLIL London. Flivinsb :Ippoinled Ilie indiipiduiil %LI)ulir% in
Jaiiiilify ii'L ivill be piiblisliinii 11 seriLS ofpiipcrs on nnilL of iiiiiLly poliLy IOPiL.s Iroiii Lligiilii I liL.'
bJ511l ¢diiL.Ilion, Ill irh piihliv s¥ri'iLes lo piihliL pruiiir¢in¢nl.
We il'ill e.xplur¢ Iliis i￿*¢n￿l Ii'iil? :In up¢n niinil riiher Illin .SLI vl. do￿￿1￿.111￿ .'1ssiiiiiplionb
LIL.b.'IlL. Ive i0niini￿. lo brinLJ Iosiiilicr ¥.Ipcris Iroiii ILf055 IhL poliliii4 I SP¢iEriiiii, IhoLILh our Ailirj.4or)' 14v¢iril:
iiidivi(IuÉil rL'SClrcli b￿￿ri1%. iiid L.NLLplionic l Ll'Lnis proibnininL. RLform is ￿7b$0]ll[LIV coinii)illLd io huildiiiii %iippoM
lor s¢rioii4 piihlil SL'ilor reliTrriii LLLrvss :Ill IliL 111.1111 p'ifii¢s. 1nd our slriLI ind¢pLncl¢nL¢ I1101¥'s lis Iu Lnii'.IgkL Ii'iili illl.
riiii(Iriiisin*i inil lin:IllLII11ii?nai¥¢in¢ni
IILloriii's luiidr1i isinii iLIiviiiL% iiiofL iknn LOI'Lrcd oiw L'.XP¥ndilurL for 10??
TIIL, Triisi doL'.s noi inir.Igi¢ In I￿￿7$5 dirLfi 1112iloLils or ll5L ihird Pli ri). lundr.11SLf5. 11 nd iloL$ 11()I PLiy IIIL
riinilr.iisinbi Reg)Lili110r's i oliini.'Ir!i lel'y.
'riiL -fnisi 111&21n11ins lis liiiids in $1 bfjink ¢llLoiini %i'iili.I ln.ijor b,1nL. This LnsiirL'.% siIIIiLliiii liqiiiilil), io li1i1(I Ilil -fiii5l'
ILlii'iliLS *ln(I OP¥r.-iiions. KLli)nii SLLk-s lo np¥f*il¢ .1 loii'.risk ¢ippfoLILlI: ils b:Ink :ILLOiltbl% k.in,
Iinclir IIIL (lirLLlion ol- IliL I)Ir¥ilnf.

Rl,-roiiN'I RrscARCII 'I'RUST
'i-iius'i'
S, ANNUAI. IIEl•OlI'I' foK 'fi IL Yfr.AR EN'Dk:1131 l>kCL.IqIII=, 112022 (£untillllL(I)
riNAJNCIAL RCIIIEII,
-l-lie re5111is lor IhL ye2r 1¢ nd I InKIIILi?I I posiiiun ol. IIIL iiTriiip:Inv 'ii¢ shoii-n 111 IIIL l in&lllll'il sl4?t¢J11tnis.
I-IIL Riloriii Rl￿$￿11rclI Triisl is LDns1iliiiLd.Is li Loinpiny IiinilLiI b). *biLir.InlLi ii'iLlI Coinp4iny NiiiiibLr ilK>41111). li j
'.11￿U rLiiislere(l iviili (l)e Cli?rily C(Iniini55ion¢ts Ii'iili (-. liiril} Niiiiiher I I11.?7.31J. -fiiL Tnsi iit.ls e.512hlisli¢d iliiLILr .1
l¢n)oriinduni ol. Ilss(Kiiilion ii,IIiLII ¢5l-Iblishul Il)¥ obj¢LIS Lind ￿lYerS ol. 111¥ Lli.Iril4ibl¢ LOlllP.111 J aiiil i¥ 111)VLI'IILII
Iind¢r Il5 Arliil# ol. As50Li¢ilion.
-IIL 'I-nisteLS 11,lio IIL.Iil ol'liLL IliroiiLilioiit (he yL:Ir ivere J.Iin¢s l)Iliiicr. C:iiliLrinL I)4ll'iL%, J¢reiiiy SillLllI :InLI I)I' I￿11[11
SIoiiiiLIIOlll1 . Addilion*rylly, Gaiiin BoylL' S 47ppoinlLd ￿ a Tn151LLS on ?Cb SLpILiiibLr YO??
ol- IhL TnL5I is in Il)L. hiiniL8 ol. RLforiii'.4 r)iri'ilOr.
TriislLLS iikc slr¢llLgyiL policy dLLisions. Tlie Llay-lo-diy runiiii)%1
Cli£irloll¢ Piikles, i%.IIo is 4llsv Ilie Cuiiip:Iny.SeLrel.irv.
'IIL' iii.ijur riskb. lo ii,liiil) tliL Lli.'Irily is ¢%W5ed. lis iIILniiliLxI by iliL -frU%lL￿￿. hiv¢ bLin rLViilVLd :In(I syslLIIIS I)1
-l Ih05L risk
proiLxliirc511ls VL bLLn LSI:IblisliLYI io ITJin:i*i
Diri'cli)rs
Ci s 1305 le
[-. l)Ill ILS
l)r l. t) 8ioiiiiLnova
'I"liv direLlors deLiil¢J lo disp¢n%¢ ii'iili Ilie reqiiir¢iii¢nl for ti $111ILlory '.IllLlil of Ili¢ li1114 llL Icil Si¢il¢ii)¥iil% lor IIIL )'L.'
InLl¢d i l D¥L¢mh¢i' 2020 sinLL ivli¢ii IIIL lin.Inii.I1 si.iieiiienls11i1 i ¢ b¢¢n >ubJLLI 10 fjin iiiJ¢pLnd¢i)l L.X'.Iiiiiii,'Ilioii.

1111 I,'Ii ?11?? ILI)nliiiwc'(l)
-IIL-l-riLSILL%. Iwl)o:Il'L il.4t? Ilii (lit¥xliJr5 01-RLlorin11¥5L-.Irih I ni%1 fi)r IIIL PLifp()5¢5 111'ii)11)p:Iiii. lili I,:Ii'L l-L¥.%th)i)%ilTrlL
'L IIIL iiiLIIiLKIs ¢iii¢l priiiiiplL4 11) IhL (-hiriliL%.%ORltr ?11 ii) 111<.5 11)!
ApiTrri)l L(1
o.11(l i)n I l Jiili. 702.3
.li.Ilhh}'

1114 1,.()lI￿.1 11 l=, Sl&ttlHCI I 'I'IIUS-I-
)I,-Nl)14 ty-l- Il XAIlllNI.-II'S Ilfr.IbOII-I'-I-C)"I'III-, 'I-HL'S-I"fr.P.S ()l-, Illl. l.-UR.I.I RF'.SP.AIICI I -I'III'S'I'
I rLpofi 10 IIIL Lhiril}' Inisl¥L'5 on my LX11nin1tion ol tlii ILLounls of IhL IOlllP#iny lor thl )'L.)r L'ndLd J I IX'LLII71K'r
?0?? SLI oiil on P*ibIL￿ 7 10 ])( .
As IIIL Lli:Iriiy Iriislee5 01- Ili¢ Loinp'iny Irin(I :Ilso it> direLIor5 lor Ilie piirrA)%¢S i)I' ii)IIIP¢inv lill% l >'oi) :Ire rLSpoiisihlL
lor tliL pfL'P'ir.Ition ol'111¥ :ILivunt5 In *llLvril-IniL Ii'iili Il)¥ i¢quireiiiLnls ol-IhL CtsmpiilliL'S Ail ?00(J I'ihL. ?o(ICI Ai I, l.
l1vin￿> 511is1iLd iiiy8ell' Iliii¢ IIIL IlLioiinis ol. IhL CviiiP4iny :Ir¢ nol rLwiiirL(I Iv bL' ."IIILlIlL(l iincl¢[ Iliri 16 Ol- IliL. ?(KI(I
Ail Liiid .IrL LliiiihlL lor iiidLPLiicILnl L.X1111ill.')lioii. I rLrKJri iii rL4PLLI ol- Ini. L'.i'.Iniinilion ol')'our ioiiip11)V'S LIIL(IIIIII%
lolloived ili¢ l)IrLiiions 1111 eli b). Il)¢ Cl).'Iriti. Corniiii85ion uiiiler 14.y i)(hi ol. IIE ?() I I AL I.
lJJilL'pcndL'iiI ¢b.InniinL'f's 51JtLhtllL'nl
l lonlirin ilhii l 11111 qLiilIliL(I lu iindLrlike IIIL É'X4lll)InJlion beciilisf I i ineiiiber ol- Tl)¢ In5liliil¢ ol. Cli:IrlLfL(I
AILchiinlints in Enbb11nd nd Illii ILS, IvI)iLh i.s onL ol. i￿. IisiLd bodiL%
I Ii:iYe Luiiiplel¢d niy e.¥.iJiiin-Ition. l ionlimi ih*il rm) ni.ryllers li.IVL LWli* lo niy ill¥nlic)n in LonnLtlii)ii li'1111 11IL
e.Xillllllll¢ Iivn gviiiiiibi lii¢ L4IIISL 10 belieiie ili.'Jl In *ln)' Iii'ileri'il respth-l:
ILLoiiniin*tr fLLorcls ii'Lrv nvl KLpI In rLbth-'Ll ul. IhL LQiiiP*ill) ?5 fLYiiiire(I by SL￿1]0￿ 3¥(1 1Trl' Il)L 7006 ALI-. iir
'.ILLoiinls Illi iiol iiiLiTrr(l ii'iili I11￿L fLxi)r(15: vr
Ili¥ iLioiinl% Llo Iiol iniiipl! ii'iili Ilii 'lLIt)IlliiillLi re(iiiirLIiiLllts ol- SLLliQlI I()f) Dr IhL ?oncb ALI oihir Ili.'111 41nl'
¥.i'.iJninfjilii)n,' or
III¢ .'IlLuiinls h411¥ ni)I been PiLpl4 t¢d in 'iLLxJnLinLL %viilI Ili¢ iiieili(MIs iinil prinLiples ul. Illi %ILII¥iiiLI)l iJl-
ReLoiiiiii¢ndL'Li PnLIILe lor.'ILLQILnlinii ind rL'rAJrtinL b). Lliiriiies ippliicibl¢ 10 1111riliLS pfLP-Irinii
in &lLLor(LinLC 11.'Iili il)L l-,In.'IJL 1*11 R¢poriinLJ Stind4ird ¢ippIIL:IblL' In iIiL IJK 47n(I I<¢pLihliL of Ir¢lind I l--l<S 111? I.
I li¢lVI fK) LVJIL¥ms :Ind li'ii'L Loii)L ILross no oihLf Il¢r> In LonnLLlion iiiitli IIiL ¥Xdliiinciliun lo ivliiLlI :IllillllOII
511011114 bL driivn in thi5 TLpofi In ordLr Io Ln.IblL a prO￿r iLnd¥rsl4lndinL ol. IliL ryLLoiinls lo bL' fLiicIILd.
l) M IliillLni'ortli l-.CA
'li¢¢iiviII I Siiilli'ollli l.iinilLd
Ji WislLI.II¥
111)I I PF
I l Jill), ?0?3

R Tr.I.-C)II￿I 111,-SF.AIICI I -I'I111S'1'
S'l'Él'l"I,-Ni r.￿'1- or i."IYklNClIKIA èirfiviTI' (iiicludincp siiiiiiiiari inci>niL' and L.ipLndiIurL￿ IILCI)IlIIt)
li)r IIIL. I'L'uf LindL'(I
I i Di,-cA,:￿.ll11=, 11211??
Unr¢siriLied Rcstriiied
riinds
riind5
l.unds
run(15
?021
NolL
l-.i.¢ntS. Spollsorship & (loii',Ilion
RLnl rLLLi1'￿lbll
Ini'¢siiii¥nt InLOIII¢
?9.i.-$96
-i(Jl.4l)()
174.?{1?
()3.596
793,S)1 6
217,934
.IPLbndiliirL 1111
6 Cos1 ol-bJcnLf4ilinLP lunds-
o Cliii riliibl¢ .?Llll'ili
6 Goi'LrnaiiL¢ Losls
18,376
277.64i
?77,643
.5,807
?,7.50
318.7?%
318,755
33?,090
iil.ll rib%oufcL* L.IPL'ndLd
l18,7)5
118,7)5
I.?2,￿)0
'L*I iliCVJiiL.IIL'iPI'n(liliiri'}
74.¥41
74,841
1114.156)
14 Cvriiss IrJnsfL'r I>L.IIi L'L'll fiiiiils
74.g41
74,b41
(114.15GI
-1 olal I'iiiid% l?riivgihi I'onv:Ir(I
637 1)?4
(?37.924
7.5?.(1¥0
'I'ol'il fiiiids i1irriL￿ fpni Jrd
717 76.$
71?76)
6 17,9?4
Coiiliiiuinkj (>PLr'iti11115
Nonl ol. Il)L LhiirilJ'S.ILlii'i1iL￿ 11-LfL LquifLd vr disLonliniiLYl diiriiig Ihl Liirrcnl i'LlI r.
'IIL L1141ril}'11.'1s no reLoLinisi(l il.Trll)s ol. Ios5L'S oIIILr Ih.In IIIL ncl IliOiLJIILnt Iii liin(l% for 111¢ LLlI'finl £Jn(I Pl¥1 11)11S
PLriu(1s.
Tlic. ii(JlL'.i uii ijrii￿eI
Ilj 1¢) Iy luriii piirl o[Ili(Jie liii(iiii i(Il %liileiiiLfili.

RI=, I.-01111.I HCSIAIICTI 'I-IIUS'I'
Notes
20??
I Q -I-,'IllLyiblL 15SL'I
),53¥
C.iirrLiil i4¥L'Is
l)L'biors
(.'li sh 'ii h:Ink iinil In liin(I
-$6.094
730.970
7.5¥?
(A? l)?9
7¥7.(K
CrcYlili)r%: .-ii)iouni% liillinii
(¥ l.¥?Oi
(?? l?Si
'Ll LurrL4111 a*$Lt
705.244
62¥,J¥6
l Ll as.%L.t%
71?,76.S
(J37,?1)..
rijnds
lJnr¢4lriLleil fiiniL
14 RLslriiliil flinc15
71?,76.S
6 j7,()?
vldl fiinds
71 ?,765
637 ()?,I
ThLSL. lin:InLi-1151*il¥lllLiils Ii:Ii'L IK'Ln prLP:IfLxI in ilLLoAliniL Ii'iili thi Pll)I'isiihiis .'Ippliiihhli l() LlllllP,'IIIII
1ppIIcilblL in Ili¥ U K 11Id RLPlltIliL ol- IrLlii lid.
l-.or Ili¢ y¢1r ¢ndinil .) I I)¢L¢m￿r ?U?? Ihc LoIn￿7nY w'.Is enliil¢d io ¢.%emplion fr()m ¢iiidit iin(l¢r .4LLIIi)ii
477 01-Ili¢ Conipinies Ail ?(K)G r¥l.IlinbJ 10 small QL)mp<lnie5.
l)irLLlor5' fLsponsibililiLS:
Tli¢ Ineinbers liai'¥ nol r¥quiTed Ili¥ tonipanv lo obiii in an ivilil of lis linanii-1151alemL'nlS lor IIiL l Liir
In ciiie51ion in OLivrdi£ nL¥ iyiih S¥Liion 476-
'l-l)e direLlors 11kno%%.l¢diT¥ iheir r¢4pvnsibiliiies lor Loniplyingj Ii'jili IIIL IL*IILir¢iiieii15 01'11)¥ Ail ii'iili
rLspLII Io i?LIULiniinb* rLLor¢ls lind Ili¢ prLPt-IrnTion ol- liniitllliil >liilLIIILnlS.
TIILSL fin.InLI.Il sl?1 IL"
un
Lnls iVLfL ipproi'id bv ihL b(kird nfdirLiiors in(l.Iiiihor15Ld lor ISSLIL on I l jill￿ ?11?;
J r. l>iliiier
CliJir ol I'rusi¢¥s
Loinp¢in}' rL'Li51niion niiinbL'r: 050(A109
Tlie iiult's tsii piitJe& Il) 10 191(pi'Jii pfti-l ol'ihL'J'e liiiiiiicicil Jl(iieiJieiiiJ.

S'1'A'I"Ii [41 L Tr*'l" Ol". f.,ISI I I,-I.()II's
li)r IIIL Yi'ar ibiidL'(I
-1 I i)rci:. ￿7 IiE[1211?2
?(1? I
Nolc
'ri)I¢Lcls ul. %'ile ol. I:Ini>ihlL liN¢d
14seis
Pil) iiiiiil In .ILqLiifL i.IniDiblL IixLII ¢15SLIS
Ili•ni r¢L¢II Ld
400
4_1,7.1?
I tl TiicfL'a4Lbl{dL'LfL'JSL) in ¢Js1i And casli L%iuiialen15
¥X,041
(17,%,2,%01
C.'Ii%li :Iiid C41$11 L'lliJii-4ILiils #l l Jinuari ?U??
771 ?()()
f:i¥li aiid c:i.%li L(IUiI'i11'nt5 al 311)LeL'llil>ir ?U??
730,970
64? {)?[)
Cd¥li 'iii(l L:iih LYIIIII yili'iil5 CU115js1 ilr:
7JO,I)70
642.()?()
C.#s11 :Iiid C￿Sh i'iiuii'alLbiil% al .111)eriiiilJL'r ?U??
71(I,1)711
(lil? LJ?l)

.11 i)r.cTr".111 IlF.R 21171
.Siiinni*in' iJl' si&inificanl Ariiiunlink P(bliiiL
'l-Ii¢ prinlipal ILLoiinliniJ poliii¢s are siimiiiHrised beloiv. Th¢ icioiinling poliLies l1Iv¢ hLeii ii17pIILcI
Lvn5islenily IliroiiLilioul lh¥ )'thr.
(ul Cnnipani. InfvrniJliibn
RLlorin IILse4ifLlI .1 nisl is .1 priv:IlL LOIIIPIL ny liinilLd by giuinniLL inLor￿)rI1llll in fniil'incl 'ii)(I IV:IlLs. 'I'IIL
rLkLiislerLcI uifii¢ is i_ci Si N4iiiliLlI. Sirc¢l. ￿lestInIn$ll.r. Lonclon. SIV I l? ?J-r.
(l)) IlJ%is Ill prepJriii<i i1iL. fin*￿IlLIa1 st:IlL'ITIL'nl¥
l-lie lin*inii:Il si.1ienienis ol-Ili¢ ili:Iril?ble Lotiipiny. ii.l)LLII is I PLihlii hL"llLIii <nlily ￿ls (lefin¢d by fR.% 111?
Iiai'e b¢¢n prep?recl in fjiiiorcl&inL* iviih ALLounikniJ ind l(eporiin,. hj C1141riliLS= £111¢11)¢ni ol. I<LLI)IIIIIILiiIILLI
Trr4111iie .'IppliLiblL lo ¢li'irilii% prLpirinb tli¥ir:)LLoiinis in -iiivrd&inLL Iviili I'indini lil I£LpurliiiiT Si&inil.-Ii'(I
LppIiLiil)IL iii IIIL IJK :Ind IILpiiblii ol. Ii¢l:Inil (flls I O?) issii¢(l on 16 July ?014, IhL l. incinii¢il R¥tM)rlin"
Si.'Iiiiliiril ippliLqblL' in iliL UnilLd Kin￿d01￿ ￿7nd RipiibliL ol- Iril£lnd IfRS 111? i. Il)L ChiriliLS ALI ?0 I I, Illi
Coinpcinics ALI ?006 ind UK GLnLnllv AcciplLd PnLiiLe s il llpplics Iroiii l JLinLlclry 2111 CJ.
T1￿ linaniial si'il¢iii¢nls.Irc pr¢p.Ire(l on i g•oinLp LofiL¢m bll sis under IIIL liislorii.Il lost Lunv¥nlion. 'I'liL'
linaiiLl411 slii l¢ii)¥nl5 1fL pi¢pir¢J in sLerlinL* 11,Iiiih is ih¢ fiinLlional Lurr¢nL}' ol-llie Lliarily.
'IIL sibpnilii¢ini :ILLoiiniing poliiiLS :IppIiLLI in ihL pfLpar4ilion of IhLSC lin'inLial sl'ileiiiLn15 ar¥ SLI oiii bLIoiv.
'1IILs¢ poIi¢iLS IIiiiL. beLII CQnSiSl¢nily ippliLd io -111 yeais prLX'nlL(l unlLSS oIIILfii'isL Sl:IlL'd.
All int￿1]11n￿l rLsvLifLVa r¢ snilLidLd in Ilie Sli* l¢in¢nl or rin2nLiiil ALIiviiies (SofAI Ivli¥n Ili¢ Lli:Iril)i 14
Ll)liile(l io ilie inLOIII¢ lind Ilie 'imi?Iinl LAII b¢ qLLi# ntiliell ii'iil) r¢4750117ble 1LLiIf￿1ly. Th¢ lolloilpiiib sp¢biliL
piIIiL ILS 'ifL ￿lI)pIlLI1 Io P&ifliiiil:Ir LJlibiuriLs u1- inLOIIIL. Voliinl-lri. inLVIIIL I.S ILLLII'¥(I hli iv.'iJ' ol. Lii'hiiils,
Ini'¢.sliiienl inLUliie is inL liiilLiI ivli¢n r¢ieiv.IblL.
Di)iiitions. IL￿77L1LS ￿1nd i)IhLr li)nns ol-i'olunl.iry inL'vinL.1rL' rL*OL*lJjSL.d is inioiiiinLP fLsoiiriL8 Iitl)¥l)
reLeii':Ible. ¢lL¥pI insol.ir:Is I11¢} 1rtt inL:IPiiblL of Iijii& nLiril mL*siiremeni.
l)on:Ilions r¢L¢iiiible lor Ili¢ ivcnenl piiFp05e5 ofih¥'fn15t .Ire Lredil¢d 10 ljnreslriiled funds. Doii:Iliun4 lor
piirposcs rcsiriciL(I by iIiLir ivishis ol-llie clonor Ir¢ Lik¥n io Reslrictul l-uncLs ii.lierL Ilics¢ wish¥s :IrL I¢y&ill)'
binilinbTr on R¥fonn RLSL'I, fLlI TA￿[ TnL51LIS, LXCLPI I])11 £lny iltnounts rLquired lo tK' rLI￿]In¥[l.ls L;
1LLord4lncL Ith IliL. donor's ii'ishis ifL' aLLouniLd lor insiL￿d is EndoiviiiLnl%- pcrini¥ nLni or L.XPLndLLhlL
Lcordinii
lo IIIL ll*ilurL ofilje reslriclioii.
-.iPLndiliirL 15 fL*o*DFbjSL'II on 111 :ILLnbil4 h-Isi% .1 liibiliiy 15 inivrrL'd. l=.irKiidiiiirL in¢liiilL5 :In)' V A"
¥.IIiLII L:Innvi bL. liilly r¥LuverLd lind is riwnLYI :Is pirt ol-IhL ¢iJKndiliirL lip ii.l)ILli li rLI￿lIL.s.
ri)515 01- Lienerilini
inionie
IILnds ioiiiprise lh¢ iOSiS ol- si?n' ancl e.ip¢115¢5 :Illrihiil¢d 10 aiir.'ILlingi i'oliini:Ii'¥'
'iiljiriliL5 :InJ seri'ii¢s
Goi'¢rn.InL¥ L(1515 iniliicl¢ 1110￿- LOSIS ilSSVLlal¢d ¥¥'iili i)ieelini¥
re(iiiir¢iii¥nis ilhL Llidrily in Ihv d¢liv¢ry ol. ils aLlivili¥s.'Ind seri'iL¥5

'OI'Tr.S TO TIII. I-.I,N,l%'ClIll. STil-fF.IllF.% I'S (CONI Tifiuf.Dl
.7 I I)r.Cr.￿.7 IlF.11211?7
{L'l -fJniijl)IL. Ii.IL'(l
'r'inLvible lixed ..155¢15 :IfL' 5t.il¢d -11 Lost (or deeiiie(110s11 vr ip'ilii:Ilion ILs5 I?ciiimii1'iied deprLLi:iiion ,'Inil
LLlllll111.IIL'd 11)IPl< Inncnl 14)SSL"s. Cosi inLliidL's Lo.%is dirLxily il(ribLili1blL" io niqk'inL> the Ic SSL'tS L.iPiil?l¥ DI
iIPLriiini> .75 inlLndLd.
D¢pr¢iiilion Is proi'iil¢(l -11 Ili¥ folloiYinLi annu411 ra1¢5 in order lo ii'ril¢ vll- ¢&i¥li :ISSLI oi'cr ils ¢Sliiii:IlL(I IlsLI LII
lif¢.
-?5O/o iYrillLn doivn v'ilii¢ PLr:Inniiin
Ass¢iS lii)I ii)e:1sure(I lil l.iir i'*ilii¢ *ir¢ rri'iLiied fori i nv iniliL-Ilion ili.ll IIIL.'ISSLI lll4iy h¢ inip:iired .11 e:ILII
hiil*lrtL¢ slieel Llile. Il'siiili indiiLilion LXlSlS. Ihe r¢LOI'¢ribl¥.ryinuiinl ul. Il)L' I155¢1. 1?r lh¥ is￿1 s L£is1)
Ln¢r4ilinLY iinil. 15 Ls1ini',IlLxl &ind LOI)Ip:Ireil io IIIL" C¢irr%tingJ 4inioiinl. IVhLfL IIIC L*ifryiiigi :IlTioiinl L.XILLilb il
r¥LOI'Lr:IblL" :Iiiiui1ni￿ lin iinp.iiniienl IiTrss is rLri)LVnlSLII in prufLI ur lo.i% iinliss Ilie :1%5LI is L¢irriLII Lil .1 rL'I'41111i(I
.'Iiiioiinl ii,IILfL IhL iiiip.'iirinLiiI 105S IS li rki'illu4ilion IlLxfLasi.
C.'Isli iinil i-lsl) ￿(IlLI1￿11enIs iniliid¥ iisli in liind. deposiis li¢lil il Lill ivith b:Inks, oili¢r slion-terin IiciiiiLI
Ini.L51nicnls i%'iil) oriiiill411 Illiiliirilil5 01-Ihrc¢ Jnonilis or le5S, ￿hna kn.lnk ()VLrilr&ills. Iliink oil
'Iiliin horroii'inkis in LiirrL'ni li.'IbililiL?.
-IIIL Lomp.'In)' li.'Is LILLleil io .Ipply iliL proi'isions ol- %LLlion I I 'I&'IsiL lin:IniiAI InslrLllllLnls l() 'Ill i)I' Il
I InJnLI:Il inslniiiiLnis.
'In.-InLI.'Il in51niii)iini4 LifL f¥4og•ni.4LiI in iIiL ili-Iril}'s b:Il'inLL slieL'I ivlil'n iliL i li',Irilv bLLUIIILS PLLri)' i() IIIL
ionlr41Llii.'Il proi'ision5 01-IlK' insltuinenl.
ISSLIS. Ivliiih iniliide d¥biors 2nd L¢l51i hink b'ilinLes ¢ire IiiV¢i4iir¢cl;11 Ir'iiiS&lLliiin priLL
?ny pro%'b5ion lor iiiipiirineni. l_o:Ins reLeii'li hle lfj r¢ iii¢.IsiifLd iniliiillv I':iir i':IliJe, net ul. IrclWISLILlioii iosl%
'tr¢ subi¥qLienily L'irri¢d 11 aniortised L051S USIIIII
Ili¢ ¢lT¥LIii¢ ilii¢r¥s1 meiliod. less li iiy pruvi51011 101.
Iinpiiirn)Lni.
Ilii.%iL]iJi(iiieiiil liciljiliiiL'.
14175iL I In2111i411 liihililiL8, incliidinL* LrLdilor5 bink- lthin5 IfL iiiili.?11}I r¥iiJLJnis¢d Irin.SilLlion priLL IiiIILSS
IIIL 1£ rr<llllTL'I))Lnl ioi)SliiiiIi￿ li fininLin¢i Innsil clion. ii,hL"rL IIIL dLbi insiriimLIII is IllLl1 SLifL.d lil IhL pfL.4L'iiI i iiliiL'
r Ili¥ IiLliir¢ p:iyi)ienlS (lisL￿lInl¢d 11 11 1)i?rkel ril¢ vl-inl¢r¢sl. fin?nLILiI liihililitrs LI.155ified as Pil),;
YL Ir.'ii'e nol i11￿￿r11S¢[l.
r.iile Lreiliiors :IrL iphliL¥4ilion% lo Pil!. lor LDLM)Il% or SL'npiLes 111111i:IVL bLLn EiiqiiifL'd in Ili¢ or(lin.'Iry iiiiiibL
I)PLfÉiliuns Iroiii siippliLrs. AIiiiTrLinls P*i!'-Ibl¢ lif¢ Ll&15siI ie(l lis Lurrini lJ-IhililiL% il. p.'iyin¢nl is diiL iviiliin i)IlL
yL.'Ir tir IL.%fj. I r iii)i. IIIL'JI irL' pfL'SL'nlLd is non-LiirrLni li.IbililiLS. TndL LfLLliii)r.s irL' riioLTnisLd inili¢ill} .11
Ir.InslLI ion priiL 47nd SlLbSLYIIILiiil¥' InLl%iirLd ii &iinurtj.SL(l iiril 11sinL 11IL L'I'ILLliVL' iillLfL'SI iiililioil.
'indillL111 li:Ibilili¢s i1re 1l¢r¢ii?*Dlli5¥d ii,l)Ln Ihe Lh?ril)' S l￿nIf￿1￿111￿ll obliiP£ilions ¥.Npirtr or ￿)re di5ili¢if41
Lil￿tIl￿d.

iii-, I,'oli￿1 Iir.si,:ARCI I 'l'iiiis-r
-7 I i)i-. cr,Tr'i Br.R 2U??
-Ilie Lli4irily 15 4in exempl Lh1ril) ii'ithin i1iL' Illeii ninL7 01. SL11￿ll11e l ol. lh¢ Cli:Irilies ALI ?U I l inil i
LV5151il¢r¢(I 10 P£i55 IIiL ILSIS sel OLIt En P.?ntriTrf¢iph I SiliLxliile 6 FIn￿)ni¢ Ail ?01 O iinil ili¢r¢lorL It IllLYt5 11
Il¥1 iiiilion ol-ll Lliiril:)hle ioinp?n)' lor IIK ionx)r.11ion 11.1 purpos¢s. Tli¢ ilurily Is ionseqiienily e.NLIIIPI
Iroiii Lorpuriilion lax on lis ih'irillible :ILI ii'iliLs.
(i) fiinil tlcLI)IiiIIiii=
UiirLslriLIL'II liiJid4 ￿lri. II'111iblL for 11SL' 11 iIiL. disirLlion of ihL Tni%iL"LS in liiril)L'rinLL' of IliL'if Lh:IriliblL
objLLtiVis iinlL%S Ilie fiinds IiivL bLxn (IL51LJn471LYI lor vihLr piirp05L.%.
Il¢51riil¢il l lind5 .Ire siibJL'Il Iv S￿lIf]L LUIILliliun% hv Ilvnurs 115 10 huii. I1￿). In:ii hL' Iis¢II. TIIL piii'fiu%L5 .'11111
115LS ol. Il)I fi>ifiLIL'(I liin(Is :Iri SL'I oiii In IhL nolLS Iv ili¥ fin:InLi'II 51'IlLiniTIIs.
-.ndoii'iii¢nl lun(Is *if¥ 4iibJLLI 10 5peLI lil Lon(Iilions by donors Ili-ii Il)L Liipil'll In1151 tK" Ilklil)ILiinLiI hi. Il)L
l-hL L111riiy OPLnic% i dLIiiiLd ioniribiilinn PLnsion %ihL"InL. ConlribLilii)n% pay1blL lo IIiL .SLhLllli 1fL
ili?rgJLLI (u illi .SiilLlllinl ol. fininLI.I1 klilii'iliLS In IhL piri(Kl lo ii'hiLli IhL)- rLI.IiL'.
'l-lie Lost ol'an), IinLiseLI hulidii y ¥nliil¢ineni 15 reLo&inis¥d in lh¢ peri￿1 in ii.liiil) the enipluyeL's s¢ri'ii&4 lire
r¢L¢iI'Id.
l-erinin'iliun bLllifil5 IrL f¢LOLJniseil iinniLxli*ilL"Iv '15 '1n L'.KPL'nsL' ii.1lLn th¥ ¥l):Irily is (l¢iiion%ir.Ibly Loiniiiilliil
II) ILrii)In¢ltk IhL Linplo}11)Lnl of.In LiiipII)YLL or iv proi'idL' ILriniThilioi) bLnLlIlS.
(11 LL':ISL'S
R¢nl21s Pil)'dibl¢ iiiicl¢r VPir.IiinL leases. iniliidinLI :Inv ILI15L iIILLnlii LS r¢¥¥llLLI. -)IL Lli.TrrbJLII -14 :In Lll)¢nsr i)ii
¥r ihL ieriii L)f IhL fL'ILI'iini IL.ISL.
41 sir.iiklil-linL IKIsi% oij *
CriliL411 IlCLiiuiilinkl L*litiiJlL% juili•l'Siii'iil
iipplii:Iiion uf IhL Lhiril)*'S ILLoiiniini
rA)liciL?%. IhL Tn151LL% IfL rLNuirL(l ii) iiiake JiidLsL'IIILntq. L.51iin.Ili%
iin(l issiiniplLon.s -Iboiil ili¢ i'irrntini> Imoiini of as5el¥ nd Ii:Ibilili¥s Iliii i .'Ir¢ noi re￿ld11Y ilPP:Irenl Iri)iii oiliei-
suiifiLS. 'I'lie esliiiiiiles 4iJJcI LISSOLi:Il¢d 155uinplion¥ ire bas¥d on 11151oriiil ¥.XPLrienLe Iinil uihLr liiili)rs 11)411
irL Lvnsidered lo be rel¢i.".1ni. ALlikil resiilis rn.iy diller from ihe5e ¢Siimll¢s. TIIL esiimii¢s ￿1nd Iiriderl)'iii&'
ssiiiiiplions irL fLI'ieivLcI on tin ongioillL bclSIS. Kei'isions to clLLoiinlingi ¢stiiii:i(es ire TccoyTrniseil In IIIL PLTiI)II
in ivhiLII ih¢ esiiiii*il¢ is rL'IijSL.d ivliL'fL ihi ￿￿'1S1on :IllLX15 only tINil pLbrii)¢l. Dr in tIiL' pcriod ol'ihL rei, i.s11)1i.'Iii(I
riiliir¥ periods Ii'hcrL lh¥ fL'vision arrLtls boih Liirr('nl 4ind fuiurL" Piriods.

111,-ruil￿j iir.sr,IHcii 'i'iius'r
'o'i-Tr.s I'l)'I"I l L ri Ni IliN'Cl•ll. S-I'A'I'F.h.lfr.IN'-I-S l¢i>niiniiedi
-31 DECLN.IIIER 21177
.I'L'iiIs, spi>ii%ibrship iii(I di)natiiins
Unr¢siriii¢d
l.Iinds
Keslriil¥il
211?1
Tulal
l-.i.enls, sponsorsliip dnil don'ition5
j) ),796
Jfj j,.596
174.?n2
RLiiI RLCI'ii dlilc
UnrL"sificiL*d
r.Iin(Is
RLsifiLILd
riinils
?()??
-1-01.11
Rilliiil iliLOlllL
Ini'i'51niLiiI Ii)i(IniL
l.'nresiriLl¢il
l.uncls
K¢siri¢lLxl
l.unLIs
?()??
Inleresi r¢L¢ived

iii=, roiiTri RFtsEARC_Il I"iius-r
'u'l-P.S 'l'O-1'1114. 1,'l %.IlliCIAI. S'l'&l'l'Lhll-. IN-I"S liunlinue(Ii
31 1)LfEN'IIILR 7111?
I-, PL'iidilurL
Cosl or
Cl)Trril:IblL Goi'Lrn'inLL'
GL'llLr.Iling Aciii'iliL%
runcls
?021
StilTLOSts
Flinilraisinib Ll'enls
?19.177
?48.48?
?44,(1.53
?(),305
?1(),177
2414.4¥?
?44.OiJ
SliirL ol-slip￿?rl LO81$ (IiOlL 71
li:Ire ul ,oi¢rn4inL¢ LOSI.4 Inoie 71
64,46(
S.8117
?77.(A3
I1¥,7$5
13?.111)O
UnrtsinLieil liiiiiL% - ￿le1]Lr.11
277.64)
S.XO7
31¥,7$
RLsifiiiL'(I liinds
23.497
277.64)
i,￿01
318,75 j
337,U()O
7 Siippurl Ci)%l%
Siippoil
Cos15
Go*Lrn4illiL
(-0sl5
Rlnl ￿71)<[ ()IhLr orricL LOSIS
115,115?
4).187
1.41)3
),701
8.090
?5(1
7X.74?
Joliiy Ll-llll
Cli,'Iril3blL riiibliLillions
In(l¢p¥ndenl Liiiiiiin*ilioii ILL
Aiioiinll¢ ncy
L¢Ltr:Il 4inil prof¢ssionil
9.701
8.090
? (rfiii
3.)07
i,307
64.4(rfJ
i.807
711,?7 j
¥8.(li7

Rfi.roii￿l RrsrARCII I'RUS-r
Nu'i'*.s-I"l)'I"I I L I-. I N',I,NCI..IL S"I',I'l'EITrlL.N'I"S ILoniinuLd
riis11'L
Non¢ ol. IliL l-nisiLLS (or 'iny PLfsOnS LonnL"Lied ii'iih ihlinl rL*Live(l iny rL"IllLinLfaiion or Hi'rL [¢11￿bIl￿s¥ll lur
Ir*ltrLlliiigp eipens¢s (liirinLJ [IIL y¢li r.
20?2
?o?I
24,%,4X?
24,1.11S j
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