Charity registration number: 1113327
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE
TRUSTEES. REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

The IDayalbagh) Radhasoami Satsang As$ociation of Europe
Contents
Pago
Trustees, Report
Independent Examinerfs Report
Statement of Financial Activities
Statement of Financial Position
Notes to the Financial Statements
14
Th& fn!Inwi.ng paoos nnt fnrm p#rt nf thp& Rtatiitnry aprniintA'
Detailed Statement of Financtal Acti￿￿e3
15

The {Dayalbagh) Radhasoaml Satsang Association of Europe
Trustees, Report For The Year Ended 31 March 2025
The trustees present their report and the financial ststements for the year ended 31 March 2025.
Objectives and Activitiès
Alms and Objectives
to advance the Radhasoami faith for the benefit of the public and in particular by:
providing facilities for propagation of Radhasoami faith and to disseminate its teachings;
making arrangement for the holding of Satsang and celebrations of Bhandaras (congregational feasts)
throughout the a￿a of operation of the association.
doing all such things as may be conducive for the promotion of religious ideals and seNice to mankind
amount the public at large.
to relieve needs arising as a result of financial hardships. sickness, old age or youth.
Page 1

The {Dayalbagh) Radhasoami Satsang Association of Europe
Trustees. Report (contlnued)
For The Year Ended 31 March 2025
Slgnlflcant Actlvltles
Ms Vinits Sharma was unanimously elected to the Governing Body effective 13 July 2024
Passed the Revised Budget for financial year 2024125 and Proposed Budget for 2025126
Adopted the Accounts for financial year ending 31 March 2024
Adopted the Annual Report of the Association for the year 2023-24
Agreed to open a Community bank account with Natwest Bank
Agreed to submit the Annual return to the Charity Commission for financial year 2023124
Europe Region Zonal Satsang (prayer meeting) was held in physical mode at Bimingham Satsang Ghar
and in virtual mode for London & Hamburg Branches on 13 July 2024
Statutory submission was made to the Charity Commission by the due date of 31 January 2025
Hartlepool Area Satsang shifted venue in December 2024 to a church building in Newcastle
Maintenance activity took place at Satsang Gharfs (prayer halls) as follows..
Birmingham Satsang Ghar.. Replacement conservatory roof and repairs on adjoining wall
11.ahil8.A¥w=i¥.son membèrs Iwomen's Association) of all three branches conttnued to exnibÈÉ vtjfancy by
undertaiino various activf(ies in multiple cateoories: VIZ.
Textile work - manufacturing various items of daity usage e.g. bowl covers, purses, etc
Food production by way of training - Mahilas prepared fresh ground spices, jams, masalas, pickles, hakn,
Adult education - conducled various dasse8 like yoga, self-defence and knowledge sharing e.g. 'Benefts
of Homo8opathy', etc
Children's education - Mahilas coached children in reciting Paath (hymns) in Hindi and Sanskrit and for
perfomiing in cultural programmes
Skill development classes - eg. cooking, embroidery, knitting, block printing
The two Youth Associations in London and Birmingham completed 20 years since formation
A total of 37 registered Children participated with great enthusiasm in the Joint CRC Annual Function with
Dayalbagh on 19 January 2025
Children regularly participated in seff4efen¢e PT & pradiced meditation technique of reciting 'Ra Dha Sva
Aah Mi, at the Five Omni Valent Nerve Centres {Chakras)
Two members from the Region fomed part of the global project 'A clinical trial of camel milk consumption
on Pulse Oximetry obseTvalions' which was presented as an oral paper at the 6th Internalional
Conference on Dayalbagh (Art) Science (& Engineering) of {EvolLrtionarylRe-Evolutionary) Consciousness
(DSC) and 47th (Inter) National Systems Conference (NSC) in September 2024
For improving Job placement, many candidates were provided with counselling, CV writing skills and
interview practice
Knowledge Sharing Webinars were regularly held during the year e.g. 'Mental Health and Welkbeing"
An Open Day was held on 8th June. 2024 where 108 members from the local community attended at
Stokenchurch Satsang Ghar (prayer hall). It provided visitors with an opportunity to learn about DEI,
Satsang Culture and Radhasoami Faith
London and Birmingham Branches organized a Yoga event on Intemational Yoga Day on 21st June, 2024
at the Satsang Ghar5 (prayer halls)
The Region celebrated 'lnnovation. Quality & Valuation Day. on 31 st October, 2024 with an innovative quiz
at London and a lecture at Birmingham
Volunteers from London Branch participated in litter picking organised by the local Parish council to clean
up Stokenchurch Village in May 2024
Hamburg Branch supported the "Johanniter Christmas Trucker Campaign in December 2024,
contributing aid packages with food, hygiene items and toys for disadvantaged families. children and
Communities in Southeast Europe and Germany
Members at Oslo volunteered for a 20-hour shift at the Dandiya Charity Event, organized by the Indian
Community to support the Norwegian Can￿r Society {Kreftforeningen)
Publlc Beneflt
The charity arranged Satsang (Holy Prayers) for its followers. Charity also provide cultural activities for children.
quiz programme and celebrations of special reluious and cultural events.
Page 2

The {Dayalbagh) Radhasoaml Satsang Asso¢iation of Europe
Trustees. Report (continued)
For The Year Ended 31 March 2025
The trustees confitm that they have complied with the requirements of Section 17 of the Charities Act 2011 to
have due regard to the Charity Commission's guidance on public benefit.
Flnanclal Review
Reserves Policy
It is the policy of the charity that unrestricted funds which h8ve not been designated for a specific use should be
maintsined at a level equivalent to between three and six month's expenditure. The trustees consider that
reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the
charity's Current actmties while consideration is gNen to ways in which additional funds may be raised. This level
of reserves has been maintained throughout the year.
Structure. Govemance and Management
Governing Document
Constitution adopted and amended on 5 Mard) 2006 as amended 29 November 2008 and 29 June 2014
Reference and Admlnistrative Details
Trusts•s
Mr Satyadhar Mitta
Dr Shri Gautam
Mrs Sumati Singh
Mr Mahesh Ohry
Mr Suresh Kapoor
Dr Anand Srivastav
Ms Winita Shamia - 1310712024 (appointed 1310712024)
Charity Numb•r
1113327
Prlncipal Address
stokenchurch Methodist Church
The Commons
Stokenchurch
Buckinghamshire
HP14 3TZ
Independent Examiner
Sandip Kumar
Pinnacle Accountants
Chartered Certified Accountants & Registered Auditors
32 De Monffort street
Leicester
Leicestershire
LE17GD
Page 3

The {Dayalbagh) Radhasoami Satsang Association of Europe
Trustees. Report (contlnued)
For The Year Ended 31 March 2025
Statement of Trustees. Responslbilities
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practi*>.
The law applicable to charities in England and INales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and
application of resources of the charity for that period. In preparing the financial statements the trustees are required
seled suitable accounting policies and then apply them consistentty.,
observe the methods and principles in the Charity SORP.
make judgments and accounting estimates that are reasonable and prudent., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
DilS";ess
..ees are responsible fct keepip.g 2AeqiJp.te accoi.Inting reco￿15 which disclose with r•ason8bte a¢curacy 81
anyiime Ine Tlll£lll¥l¢li FJV)IIIVIT ui iriv biidliiy aiiu iv viiauiv Iiit¥lll Lv Vviiiyiy
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included
on the charity's website. Legislation in the Untied Kingdom governing the preparation and dissemination of financial
statements rnay differ from legislation in other jurisdictions.
The trustees. report was approved by the board of trustees and signed on its behalf by..
Drsh
autam
Trustee
6 January 2026
Page 4

The (Dayalbagh) Radhasoami Satsang Assoclatlon of Europe
Ind•pendent Examlnerfs Report to th• Trustees of The (Dayalbagh) Radhasoami Satsang Assoclatlon of
Europe
For The Year Ended 31 March 2025
I report to the trustees on my examination of Ihe accounts of The (Dayalbagh) Radhasoami Satsang Association of
Europe (the Trust) for the year ended 31 March 2025.
Responsibilities and Basis of Report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Ad 2011 ('the Acr).
I report in respect of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act and in
carrying out my examination, I have followed the applicable Directions given by the Charty Commission under
section 145(5){b) of the Act.
Indepondent Examlnerfs Statement
I have completed my examination. I confim that no material matters have come to my attention in connection with
the examination giving me cause to believe that in any niaterial respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act. or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the applicable requirements conceming the form and contents of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a Irue and fair view, which is not a matter considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the examination to vthich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sandip Kumar
6 January 2026
Pinnacle Accountsnts
Chartered Certffied Accountants & Registered Auditors
32 De Montfort Street
Leicester
Leicestershire
LE17GD
Page 5

The IDayalbagh) Radhasoami Satsang Association of Europe
ststement of Financial Activities
For The Year Ended 31 March 2025
2025
2024
Unrestrlcted Unrestrlcted
funds
funds
Notes
INCOME AND ENDOMIENTS FROM:
Donations and legacies
Investments
27,229
5,048
85.084
770
32.277
85,854
EXPENDITURE ON:
Raising funds
NET EXPENDITURE
(51.236} (882.918)
118,9591
1191.064)
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
(18.959} (797.064)
616.480
1,413,544
10
597.521
616,480
The notes on pages 8 to 14 fonn part of these financial statements.
Page 6

The {Dayalbagh) Radhasoaml Satsang Assoclation of Europe
Statement of Financial Position
As At 31 March 2025
2025
2024
Unrestricted Total
funds
funds
Notes
FIXED ASSETS
Tangible Assets
471,123 471.123
471,123 471.123
CURRENT ASSETS
Cash at bank and in hand
126,398 145.357
126,398 145.357
NET CURRENT ASSETS {UABIUTIES)
126,398 145,357
TOTAL ASSETS LESS CURRENT LIABILITIES
597,521 616.480
NET ASSETS
597.521 616.480
FUNDS OF THE CHARITY
Unrestricted Funds
597,521 616,480
TOTAL FUNDS
10
597,521 616,480
On behalf of the board
Dr Shri Gautam
Mr Suresh Kapoor
Trustee
6 January 2026
Trustee
The notes on pages 8 to 14 fonn part of these financial statements.
Page 7

The (Dayalbagh) Radhasoami Satsang Association of Europe
Notes to the Financial Statements
For The Year Ended 31 March 2025
1. General Inforniation
The (Dayalbagh) Radhasoami Satsang Association of Europe is an unincorporated charity registered with the
Charity Commission, registered charity number 1113327. The principal address is Stokenchurch Methodist Church,
The Commons. Stokenchurch, Buckinghamshire, HP14 3TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordan￿ with the Charities SORP (FRS 102) "Accounting
and Reporting by Charities.. Statement of Recomrnended Practice appliGable 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
The ch.grty is a Public Benefrt Entty as define(I by FRS 102.
2.2. Exemption From Preparlng Consolidated Flnancial Statsments
The charity has t8ken advantage of the exemption under section 139 of the Charities Act 2011 not to prepare
consolidated accounts. The financial statements present information about the charty as an individual entty
and not about its group.
2.3. Golng Concern Dlsclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast
significant doubt about the cherity's ability to continue as a going concem.
2.4. Slgnlflcantjudgements and estlmatlons
In the application of the charity's accounting policies. the Irustees are required to make judgements.
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be reSevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
2.5. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific
purpose.
Restricted fvnds are to be used for specific purposes as laid down by the donor.
Further explanation of the natu￿ and purpose of each fund is included in the notes to the financial
statements.
Page 8

The {Dayalbagh) Radha$oami Satsang Assoclatlon of Europe
Notes to the Flnanclal Statements (continued)
For The Year Ended 31 March 2025
2.6. Incoming Rasources
Income is recognised when the charity is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charty has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of
the donation.
Legacies are recognised on receipt or otheThvise if the charity has been notified of an impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
Contingent asset.
2.7. Resources Expended
Expenditure is ￿ognIsed once there is a legal or constructive obligation to transfer economic benefit to a
third party, 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 classified by activty. The costs of each activty are made up of the total of direct costs and
shar8d costs, including support costs involved in undertaking each activity. Direct costs attributable to a
single activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those activities on a
basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the assel's use.
2.8. Tangible Flxed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient
losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their
estimated residual value, over their expected useful lives on the following bases..
Freehold
not depreciated
2.9. Investment Propertles
All investment properties are carried at fsir value detemiined annually and derived from the Current market
rents and investment property yields for comparable real estate, adjusted if ne￿SSary for any difference in
the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value
are recognised in the statement of financial activities.
2.10. Leaslng and Hire Purchase Contracts
Assets obtained under finan￿ leases are capitalised as tangible fixed assets. Assets acquired under finance
leases are depreciated over the shorter of the lease temi and their useful lives. Assets acquired under hire
purchase contracts are depreciated over their useful lives. Finance leases are those where substsntially all
of the benefits and risks of ownership are assumed by the charity. Obligations under such agreements are
included in the creditors net of the finance charge allocated to future periods. The finance element of the
rental paymenl is charged to the statement of financial activities so as to produce a constant periodic rate of
charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain
with the lessor are charged to the statement of financial activities as incurred,
Page 9

The (Dayalbagh) Radhasoaml Satsang Assoclatlon of Europe
Notes to the Financial Stat•m•nts leontinu•d)
For The Year Ended 31 March 2025
2.11. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cosl and net realisable value after making due
allowance for obsolete and slow-moving stocks.
Cost is detemined using the fsrst-in, first-out method. Cost includes all direct costs and an appropriate
proportion of fixed and variable overheads.
Work in progress is refiected in the accounts on a contract by contract basis by recording tumover and
related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impainnent. If an item of stock is impaired, the
identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is
cognised in the statement of financial actmties. Where a reversal of the impairment is required the
statement of financial athities.
Cash and cash equivalents are basic financial assets and indude cash in hand and deposits held at call with
banks, other short4erm h￿hlY liquid investments thal mature in no more than three months from the date of
acquisition and are readily Convertible to a known amount of cash with insignificant risk of change in value,
and bank overdrafts.
2.13. Forelgn Currencles
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling
at the statement of financial position date. Transactions in foreign currencies are translated into sterling at
the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the
operating surplus.
2.14. Taxation
The charty is exempt from tax as all its income is charitable and applied for charitable purposes.
2.15. Provisions and Contlngencies
Provlslons
Provisions are recognised when the charity has a present legal or constructive obligation as a result of past
events" it is probable that an oufflow of resources will be required to settle the obligation. and the amounl of
the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an oufflow will be required in settlemerrt
is detennined by considering the class of obligations as a whole. A provision is recognised even if the
likelihood of an outflow wrth respect to any one item included in the same Class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required lo settle the
obligation using a pre-tax rate that reflects current market assessments of the time value of money and the
risks specific to the obligation. The increase in the provision due to passage of time is recognised as a
finan￿ cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not
probable that there will be an oufflow of resources or that the amount cannot be reliably measured at the
reporting date or (li) when the existence will be confimied by the occurrence or non-occurrence of uncertain
future events not wholly within the charity's control. Contingent liabilities are disclosed in the financial
statements unless the probability of an oufflow of resources is remote.
..CONTINUED
Page 10

The (Dayalbagh) Radhasoaml Satsang Assoclation of Europe
Notes to the Flnanclal Statements (continued)
For The Year Ended 31 March 2025
2.15. Provlslons and Contlngencies - continued
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an
inflow of economic benefits is probable.
2.16. Employee Beneffts
The ¢osts of short-term employee benefrts are reco9nised as a liabilty and an expense. unless those costs
are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefrts are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide temination benefits.
2.17. Pensions
The charity operates a defined pension contribution scheme. Contributions are charged to the Ststement of
Financial Activities as they become payable in accordance with the rules of the scheme.
3. Income from Donations and Legacies
2025
2024
Unrestrfcted Unrestricted
funds
funds
Donations and gifts:
Donations and gifts
27,229
85,084
4. Investment Income
2025
2024
Unrestricted Unrestrict•d
funds
funds
Bank inter8St receivable
5,048
770
5. Anatysls of Expenditure
2025
Activities
undertaken
Support
directly
costs
(see note 6) (See note 7)
Total
Raising funds
3,949
47,287
51,236
Page 11

The IDayalbagh) Radhasoami Satsang Association of Europé
Notes to the Finaneial Statements (Continued)
For The Year Ended 31 March 2025
2024
Activities
undertaken
Support
dlrectly
costs
{see note 6) (see note 7)
Total
Raising funds
4,555
878,363
882,918
6. Direct Costs
2025
Raising
funds
Fundraising a¢tivities'.
E Satsang expenditure - Capex
Expenses on Bhandara, Basant and Holi
Garland and parsad
Open day and yoga
1.199
192
2,278
280
3,949
2024
Raising
funds
Fundraising activities:
E Satsang expenditure - Capex
Expenses on Bhandara, Basant and Holi
Expenditure on celebrationslPropogation
Garland and parsad
2,529
487
206
1,333
4,555
7. Support Costs
2025
Raising
funds
Premises expenses..
Rates
Light and heat
Vvater rates
Repairs and maintenance
4,342
4.630
415
2,229
..CONTINUED
Page 12

The (Dayalbagh) Radhasoami Satsang Assoclation of Europé
Notes to the Financial Statements (contlnued)
For The Year Ended 31 March 2025
Cleaning
General administration:
Insurance
Printing. postage and stationery
Telecommunications
Accountancy fees
Charitable donations
Sundry expenses
Interest payable..
Bank charges
Foreign exchange charges
245
1,488
2,248
300
30,000
1.076
91
204
47,287
2024
Raising
funds
Premises expenses:
Rates
Light and heat
Repairs and maintenan
General administration:
Computer software, consumables and maintenance
Insurance
Telecommunications
Accountancy fees
Professional fees
Charitsble donations
Sundry expenses
Interest payable..
Bank charges
Foreign exchange charges
1,379
2,993
5.183
298
2.929
1.740
250
3,007
855,906
5,184
211
(715)
878,363
8. Average Number of Employ•es
Average number of employees during the year was: NIL (2024.. NIL)
Page 13

The IDayalbagh) Radhasoami Satsang Associatlon of Europe
Notes to the Flnanclal Statsments (continu•d)
For The Year Ended 31 March 2025
9. Tangible Assets
Land &
Property
Freehold
Cost
As at 1 April 2024
As at 31 March 2025
471,123
471,123
Net Book Value
As at 31 March 2025
471,123
A5 at 1 ￿ri12024
471,123
10. Movement In Funds
As at 1 April
2024
Asat31
Expendlture March 2025
Income
Unrestricted funds
General:
General unrestricted fund
616,480
32.277
(51,236)
597,521
Total funds
616,480
32.277
{51,2361
597.521
As at 1 April
2023
Asat31
Expenditure March 2024
Income
Unrestricted funds
General:
General unrestricted fund
1,413.544
85,854
(882,918)
616,480
Total funds
1,413,544
85,854
(882,918)
616,480
11. Transactlons with Trustees
None of the trustees received any remuneration or any other benefits from an employment viith the charty or
related entity during the current or previous year.
No trustee expenses have been incurred.
12. Relat•d Party Disclosures
Page 14

The (Dayalbagh) Radhasoami Satsang Assoclatlon of Europe
Detailed Statement of Financial Actlvltles
For The Year Ended 31 March 2025
2025
2024
Total
funds
Total
funds
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Donations and grfts
27,229
85.084
27,229
85,084
Investments
Bank interest rec8ivab18
5.048
770
5,048
770
32,277
85.854
EXPENDITURE ON:
Ralslng funds
E Salsang expenditure - Capex
Expenses on Bhandara, Basant and Holi
Expenditure on celebrationslPropogation
Garland and parsad
Open day and yoga
Rates
Light and heat
Water rales
Repairs and maintenance
Cleaning
Computer software. consumable5 and maintenance
Insurance
Printing, postage and stationery
Telecommunications
Accountsncy fees
Professional fees
Charitable donations
Sundry expenses
Bank charges
Forewn exchange charges
(1,199)
<192)
{2,529)
(487)
(206)
(1,333)
(2.278)
{280)
(4,342)
(4,630)
{415}
(2.229)
{245)
(1,379)
(2,993)
(5,183)
(296)
(2,929)
(1,488)
(19)
(2,248)
{300)
(1,740)
(250)
(3,007)
(30,000) {855,906)
(1,076)
(5,184)
191)
(211)
(204)
715
(51,236} (882,918)
(51,236) {882,918)
NET EXPENDITURE
{18,959) (797,064)
Page 15