OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

2025-03-31-accounts

Hornsey Rise Ltd Charity No. 1117819 Company No. 05484099 Trustees, Report and Unaudited Accounts 31 March 2025

Hornsey Rise Ltd Contents Pages Trustees. Annual Report 2to3 Independent Examiner's Report Statement of Financial Activities 4t04 5t05 Summary Income and Expenditure Account Balance Sheet 6t06 7t08 Statement of Cash flows 9t09 Notes to the Accounts IOto16 Detailed Statement of Financial Activities 17 Paoe I

Hornsey Rise Ltd Trustees Annual Report Hornsey Rise Ltd 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 2025. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 05484099 Charity No. 1117819 Principal Office 440 Hornsey Road Islington London N19 4EB Registered Office C/0 CWA Lockkeepers Cottage Unit 36 Hazlemere Marina Waltham Abbey EN9 IFJ 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.. M.H. Bhuiyan M.A. Karim A.A. Popal M.A. Rahman Key Management Personnel Mohammad A Rahman Mohammed A Karim Ali Ahmed Popal Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London NI 9PF Bankers Barclays Bank PIC I Churchill Place London Pa2e 2

HORNSEY RISE LTD Trustees Annual Report The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and Administrative Details Charity No. 1117819 Company No. 05484099 Principal Office 440 Hornsey Road London N19 4EB Registered Office CIO CWA Unit 4, 3rd Floor Pride Court 80-82 White Lion Street N19PF Trustees The following trustees served during the year: M.A. Rahman M.A. Karim A.A. Popal M.H. Bhuiyan Key Management Personnel Mohammad A Rahman Mohammed A Karim Ali A Popal Accountants CWA Certified Accountants Unit 4, 3rd Floor Pride Court 80-82 White Lion Street London N19PF Bankers Barclays Bank 1 Churchill Place London E14 5HP

Objectives The charity's objects are: To further, or benefit, the Islamic community of Islington and the surrounding boroughs, without distinction otherwise sex, sexual orientation, race or of political. religious or other opinions by associating together the said community and the local authorities, voluntary and other organisations in a common effort to advance education, the Islamic religion and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the community. In furtherance of these objects but not otherwise, the trustees shall have the power.. To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. Directors and Trustees The Directors of the charitable company are its Trustees for the purpose of charity law. The Directors who served during the year are as above. Trustees are elected by members as per the governing documents of the charity at the meeting of the board of trustees. Governing document HRL is a registered charity with the Charity Commission under charity number 1117819. The company registration number is 05484099 at Companies House. The Company and charity are governed by its memorandum and articles of association incorporated 17 June 2005 as amended by special resolution dated 16 December 2006. Achievements and performance We continue to lease 440 Hornsey Road, N19 4EB, to Holloway Educational and Cultural Centre {HECC). The lease was renewed in March 2025. HECC continues to provide activities from the centre to the community in the interest of public benefit. Activities taking place at the centre include: Children's Education through the Academy Daily prayers and circles Adult classes for Men and Women Community welfare visits Seasonal activities during Ramadan and Eid festivals HRL continued to work with partner charities and to support where required. HRL particularly supported HECC in meeting its charity objectives. In the previous years we supported them with their finance and administrative management, but they are now successfully managing their finance and administration with their own banking facility. Community Outreach Visits The trustees and charity volunteers regularly visit homes to engage with youth and adults to provide support and advice to those in need. Our youth volunteers walk the streets engaging with the youth and give advice to attend our centre and participate in the activities at the centre.

Frlday Prayers Two Friday prayers are held due to demand. An average of 400 community members participate in the two congregational prayers. At the beginning of the prayers short talks are given to encourage and motivate to participate in community activities and social causes. Future Plans We are looking into the following as future activities: Better use of the property space, possibly allowing other charities to operate from the premises. Improve the space to make it more welcoming to children, women and older people. Secure two community groups or charities to have regular slots to provide activities and service to support the local community. Look to open a food bank as the need and request for it is increasing. Statement of trustees. responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. 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. Public Benefit We confirm that in providing the above services and in writing this report, we have had regard to the guidance issued by the Charity Commission on public benefit. The trustees feel that the activities carried out by our charity outlined in this report provide benefit to the users of the centre and the wider community. Reserve Policy HRL provides space for other charities to carry out activities in line with our objectives. There are no employees or regular activities needing funding. The trustees recognise the requirement to look into keeping reserves in the future for possible future activities that HRL may run. The reserves would ensure as far as possible the sustainability of the charity's future activities. Risk Management The trustees believe that sound risk management is integral to both good management and good governance practice. Risk management forms an important part of the charity's decision-making and is incorporated within planning.

Risk assessment are to be conducted on all new activities and projects to ensure they are in line with the charity's objectives and mission. A risk register covering key strategic risks will be maintained and updated. A detailed risk register is to be drafted and will be maintained and will regularly review and monitor the effectiveness of its risk management framework and update it as necessary. Volunteers HRL recognises the contributions of its volunteers who work tirelessly to serve the local community. Volunteers are requested and recruited as and when necessary, using our Volunteer Management policy as the guide. Statement of Trustees Responsibilities The Trustees are aware that Company law 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 its incoming resources and application of resources, including its income and expenditure for that period. In preparing those financial statements. the directors are required to'.- select suitable accounting policies and then apply them consistently. observe the methods and principles of the charities SORP. make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records which 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to Disclosure of Infomiation to Independent Examiner So far as the Trustees are aware. there is no relevant information of which the charitable company s independent examiners are unaware, and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant audit information and to establish that the charity's auditors are of that information. Method of preparation of accounts The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association and comply with the Companies Act 2006 and the Statement of Recommended Practice (SORP}, "Accounting and Reporting by Charities Act 2011. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Financial Review There were no disclosable related party transactions during the year (2025 - none). None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No money amount was paid to the independent examiner as they are providing this service pro bono. This report was approved by the Board of Trustees on 20 December 2025 and signed on its behalf by: M A Rahman

Hornsey Rise Ltd Trustees Annual Report E14 5HP OBJECTIVES AND AcfiviTIES Objectives The charity's objects are: To further, or benefit, the Islamic community of Islington and the surrounding boroughs, without distinction otherwise sex, sexual orientation, race or of political, religious or other opinions by associating together the said community and the local authorities, voluntary and other organisations in a common effort to advance education, the Islamic religion and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the community. In furtherance of these objects but not otherwise, the trustees shall have the power.. To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. 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 1021. Signed on behalf of the board M.A. Rahman Trustee 31 March 2025 Paoe 3

Hornsey Rise Ltd Independent Examiners Report Independent Examiner's Report to the trustees of Hornsey Rise Ltd I report to the charity trustee5 on my examination of the financial statements of Hornsey Rise Ltd for the year ended 31 March 2025. Responsibilitie5 and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the 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 20111'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) Ibl 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: 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. r Ali Arif Institute of Financial Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London NI 9PF 31 March 2025 Page 4

Hornsey Rise Ltd Statement of Financial Activities for the year ended 31 March 2025 Unrestricted funds 2025 Restricted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments from: Donations and legacies Investments 46,073 46,073 47,234 450 Total 46,073 46,073 47,684 Expenditure on". Other 2,978 2,978 27,107 Total 2,978 2,978 27,107 Net gains on investments Net income 43,095 43,095 20,577 Transfers between funds Net income before other gains/{losses) 43,095 43,095 20,577 Other gains and losses Net movement in funds 43,095 43,095 20,577 Reconciliation of funds.. Total funds brought forward 1,569,635 1,569,635 1,549,057 Total funds carried forward 43,095 1,569,635 1,612,730 1,569,634 Paoe 5

Hornsey Rise Ltd Summary Income and Expenditure Account for the year ended 31 March 2025 202S 2024 Income 46,073 47,234 Interest and investment income 450 Gross income for the year Expenditure 46,073 47,684 2,978 27,107 Total expenditure for the year Net income before tax for the year 2,978 27,107 43,095 20,577 Net income for the year 43,095 20,577 Paoe 6

Hornsey Rise Ltd Balance Sheet at 31 March 2025 Company No. 05484099 Notes 2025 2024 Fixed assets Investments 1,582,666 1,582,666 1,582,666 1,582,666 Current assets Debtors Cash at bank and in hand 50,599 39,032 89,631 50,599 22,937 73,536 Creditors: Amount falling due within one year Net current assets io 89,631 73,536 Total assets less current liabilities 1,672,297 1,656,202 Creditors: Amounts falling due after more than one year Net assets excluding pension asset or liability 11 (59,5671 186,567) 1,569,635 1,612,730 Total net assets 1,612,730 1,569,635 The funds of the charity Restrirted funds 12 Restricted income funds 1,019,635 1.019,635 1,019,63S 1,019,635 Unre5trirted funds General funds 12 43,095 43,095 Reserves 12 Revaluation reserve 550,000 550.000 550,000 550,000 Total funds 1,612,730 1,569,635 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 2025 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 2025 igned n its behalf by: A.A. Popal Paoe 7

Hornsey Rise Ltd Balance Sheet Trustee 31 March 2025 Paee 8

Hornsey Rise Ltd Statement of Cash flows for the year ended 31 March 2025 2025 2024 Cash flows from operating artivities Net income per Statement of Financial Activities 43,095 20,577 Adjustments for: Decrease in trade and other payables {27,001} {30,000} Net cash provided by/(used in) operating activities 16,094 (9,873) Net cash from investing activities 450 Net cash from financing artivities Net increase/(decrease) in cash and cash equivalents 16,094 (9,423} Cash and cash equivalents at the beginning of the year 22.937 32,360 Cash and cash equivalents at the end of the year 39,032 22,937 Components of cash and cash equivalents Cash and bank balances 39,032 22,937 39,032 22,937 Page 9

Hornsey Rise Ltd Notes to the Accounts for the year ended 31 March 2025 l 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 I January 20151 (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 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. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities {SoFAI when the charity 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 legacies Voluntary income received by way of grants, donations and gifts is included in the 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. Ga ins/(losses1 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/llosses} on investment assets This includes any gain or loss on the sale of investments. Page 10

Hornsey Rise Ltd Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which 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. 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. 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. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. 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. Related party transactions There were no disclosable related party transactions during the year (2025 - none). None of the trustees {or any persons connected with them) received any remuneration or benefits from the charity during the year. No money amount was paid to the independent examiner as they are providing this service pro bono. 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. Paoe 11

Hornsey Rise Ltd 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 15 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 incomelexpenditure. 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. Paoe 12

Hornsey Rise Ltd 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 Unrestricted funds Restricted funds Total funds 2024 2024 2024 Income and endowments from: Donations and legacies Investments 47,234 450 47,234 450 Total 47,684 47,684 Expenditure on: Other 27,107 27,107 Total 27,107 27,107 Net income 20,577 20,577 Net income before other gains/{losses) Other gains and losses: 20,577 20,577 Net movement in funds 20,577 20,577 Reconciliation of funds: Total funds brought forward Total funds carried fonKard 1,549,057 1,549,057 20,577 1,549,057 1,569,634 4 Income from donations and legacies Unrestricted Total Total 2025 2024 Donations 46,073 46,073 46,073 46,073 47,234 47,234 5 Income from investments Total Total 2025 2024 Rental income 450 450 Paoe 13

Hornsey Rise Ltd Notes to the Accounts 6 Other expenditure Unrestricted Total Total 2025 2024 Premises costs 2,378 600 2,378 600 6,491 616 General administrative costs Legal and professional costs 20,000 27.107 2,978 2,978 7 Staff costs No employee received emoluments in excess of £60,000. Neither the trustees nor any person connected with them have received any remuneration, either in the current year or the prior year. No expenses were paid to trustees or persons connected with them. 8 Investments Freehold Investment Property Total Cost or revaluation At l April 2024 At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 1,582,666 1,582,666 1,582,666 1,582,666 1.582,666 1,582,666 1,582.666 1,582,666 Freehold Investment Property The freehold investment property was acquired on 200S. The property was revalued on 2019 by Local Estate Agent . 9 Debtors 2025 2024 Other debtors 50,599 50,599 50,599 50,599 10 Creditors: amounts falling due within one year 2025 2024 Karza Hasana (Loan from publicl 11 Creditors: amounts falling due after more than one year 2025 2024 Trade creditors 59,567 59,567 86,567 86,567 Paoe 14

Hornsey Rise Ltd Notes to the Accounts 12 Movement in funds Incoming resources At31 (including other Resources March 2025 expended At l April gains/losses 2024 Restrirted funds: Restricted income funds: Donation by public 1,019,635 1,019,635 Total 1,019,635 1,019,635 Unrestricted funds: General funds 46,073 12,9781 43,095 Revaluation Reserves: Restricted funds: Donation by public Total 550,000 550,000 550,000 550,000 Total revaluation reserves 550,000 550,000 Total funds 1,569.635 46.073 (2,9781 1,612,730 Purposes and restrictions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost. Restricted funds: Donation by public To Support Charity's day to day activity 13 Analysis of net assets between funds Unrestricted funds Restricted funds Total Investments 1,582,666 1,582,666 89,631 Net current assets Creditors due in more than one year and provisions 89.631 {59,5671 159,567) 89,631 1,523,099 1,612,730 Paqe 15

Hornsey Rise Ltd Notes to the Accounts 14 Reconciliation of net debt At31 March At l April 2024 Cash flows 2025 Cash and cash equivalents 22,937 22,937 16,095 16,095 39,032 39,032 Net debt 22,937 16,095 39,032 15 Related party disclosures Controlling party The company is limited by guarantee and has no share capital; thus no single party controls the company. Paoe 16

Hornsey Rise Ltd Detailed Statement of Financial Artivities for the year ended 31 March 2025 Unrestricte d funds 2025 Total funds Total funds 2024 2025 2025 Income and endowments from: Donations and legacies 46,073 46,073 46,073 46,073 47,234 47,234 Investments 450 450 Total income and endowments 46,073 46,073 47,684 Expenditure on: Premises costs Light, heat and power 2,378 2,378 2,378 2,378 6,491 6,491 General administrative costs, including depreciation and amortisation Bank charges Telephone, fax and broadband 77 77 102 523 523 514 600 600 616 Legal and professional costs Solicitor's fees 20,000 20,000 Total of expenditure of other costs Total expenditure 2,978 2,978 27,107 2,978 2,978 27,107 Net gains on investments Net income 43,095 43,095 20,577 Net income before other gains/(losses) Other Gains 43,095 43,095 20,577 Net movement in funds 43,095 43,095 20,577 Reconciliation of funds: Total funds brought forward 1,569,635 1,569,635 1,549,057 Total funds carried forward 43,095 1,569,635 1,612,730 1,569,634 Paoe 17