Financial Statements for the year ended 31 March 2025
Action for the River Kennet
TRUSTEES ANNUAL REPORT
FOR THE YEAR TO 31 March 2025
| Name: | Action for the River Kennet | |
|---|---|---|
| Also known as: | ARK | |
| Charity number: | 1120725 | |
| Address: | Avebury | |
| Elcot Park | ||
| Marlborough SN8 2BG | ||
| Director: | Charlotte Hitchmough | |
| Trustees: | Richard Clarke | Chairman |
| Martin Gibson | Treasurer | |
| Judy Pitts | ||
| David Hill | ||
| Officers: | Technical advisor – John Lawson | |
| Ecological advisor – Peter Marren | ||
| Other Committee members: | Rob Starr | |
| Sam Marshall | ||
| River Habitat advisor: | John Hounslow | |
| Independent Examiners | David Owen & Co | |
| 126 High Street | ||
| Marlborough SN8 1LZ | ||
| Investment advisors: | Charles Stanley | |
| 55 Bishopsgate | ||
| London EC2N 3AS | ||
| Bankers: | CAF Bank | |
| 25 Kings Hill Avenue | ||
| West Malling | ||
| Kent ME19 4JQ |
Structure and Governance
The charity is constituted as a trust governed by a constitution. Trustees are elected annually by the members.
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Action for the River Kennet
TRUSTEES ANNUAL REPORT
FOR THE YEAR TO 31 March 2025
Objectives and activities
The purposes of the charity as set out in its governing document are:
· to conserve, protect, restore, and improve the rivers, streams, watercourses and water impoundments of the catchments comprising the River Kennet and its tributaries including adjacent river catchments.
· to advance the education of the public in the management and understanding of water.
We are driven by a vision of healthy chalk streams supporting abundant native wildlife, enjoyed and valued by people. We want to see all rivers and freshwater in our catchments flowing freely and teeming with wildlife for all who depend on them.
Our principal geographic areas of activity are the Kennet and South Chilterns operational catchments.
We believe that the natural environment can sustain and inspire people, making us happier and healthier and we endeavour to engage with our communities and re-connect them with their local river.
The roots of our charity are in the communities around the rivers we work on and, at a time when there is unprecedented concern and interest in rivers, our focus is on positive action to achieve improvement.
In setting our objectives and planning our activities, the trustees have considered the Charity Commission guidance on public benefit. Activities to further our purposes for public benefit include:
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designing and managing river restoration projects to improve the physical habitat of rivers
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running activities for schools to help students learn about the chalk stream environments and ecology
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hosting walks along the River Kennet available for the public and our members
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influencing communities and policy makers to encourage the sustainable use of water.
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collecting, analysing and presenting data to demonstrate the health of the river
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providing opportunities and training to enable people take part in volunteer work in and by the river.
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advising and working with farmers, land managers and homeowners on ways to minimise their impact on rivers.
We meet regularly with our members, stakeholders and environmental bodies and engage in policy consultations about fresh water and chalkstreams. Our newsletter is published at least once each year.
The charity supports the catchment based approach and hosts the Kennet Catchment Partnership and co-hosts the South Chilterns Catchment Partnership.
Achievements and Performance
Habitat restoration, citizen science and outreach
During the last year our projects restored just over 4km of river, created 11.6 hectares of wetland, 30.8 hectares of new nature habitat including wet meadow and woodland, and planted more than 21,000 trees and plants. We installed sustainable drainage at 26 public and private properties. To inform future projects and monitor the success of existing work we carried out 19 water vole surveys, surveyed 2.3km of riverbank and collected over 100 water samples. Our incredible volunteers donated 2,369 hours of time and energy enabling us to deliver so much more than our core team of 5 staff could hope to achieve alone.
Our citizen scientists collected 400 riverfly surveys and took 120 water quality samples.
Our community outreach engaged 2,069 students and we presented talks or training at 17 events, where we reached more than 500 people.
We completed some of our most ambitious habitat restoration work to date, creating more resilient rivers, reducing the risk to communities from flooding, and increasing habitat for wildlife from trout to lapwing.
Financial summary
Our total income increased to £559,056 (2024 – £196,005) putting us in a strong position to expand our staff team to deliver more in the coming year.
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Unrestricted income, which can be used for general expenditure, was £137,296 (2024 - £76,246), with income from donations and memberships higher at £43,052 (2024 - £28,129). We received £28,000 (2024 - £28,000 ) of donations from Trusts and Foundations. Total income rose by £363,051 (2024 - rose by £383,386). Restricted funds carried forward reduced to £179,757 (2024 - £202,957) as we received payment for projects completed in previous years and received grants in advance of planned work.
In the year we had a increase on general funds of £69,534 (2024 — increase of £9,154). We had an operating surplus of £71,110 (2024 - surplus of £5,858). Our investments and cash produced an income of £18,225 (2024 - £2,314) due to our high project balances and the increase in bank interest rates. Our long term investments lost £1,576 in value (2024 — gain of £3,296) and were worth £72,574 (2024 - £73,273) at the financial year end. This continues to be a satisfactory performance and we remain resilient for the future.
The expansion of our geographic focus has opened new opportunities. Our activities continue to focus on positive practical action, alongside campaigning against pollution, over-abstraction and habitat loss to ensure that the chalk streams in our catchments are protected.
My grateful thanks to all the Trusts, businesses, grant funders and individual supporters who have funded our work in the last year. Particular thanks to the landowners, farmers and homeowners who have allowed us to work on their land for the benefit of the river.
The staff team have worked extraordinarily hard over the last year and | extend my grateful thanks to them and the Trustees and the Executive Committee for their dedication, enthusiasm and support. | would also like to thank the many members and volunteers who have made ARK so effective. In an era when rivers are under pressure from climate change, population increase, pollution and abstraction your support is needed more than ever. Charlotte Hitchmoug ae J, Director :
Action for the River Kennet
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Statement of Trustees Responsibilities
For the Year Ended 31 March 2025
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 Practice).
The law applicable to charities in England and Wales 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 year.
In preparing these financial statements, the trustees are required to:
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the 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.
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Action for the River Kennet
Statement of Financial Activities for the year to 31 March 2025
| Income from: Donations Grants Other trading activities Investments Note 3 Total Note 2, 13 Expenditure on: Raising funds Charitable activities Governance Total Note 4 Net realised gains/(losses) on investments Net income/(expenditure) Gains/(losses) on revaluation of investments Net Movement in Funds Reconciliation of Funds Total funds brought forward Total funds carried forward Note 13 |
Unrestricted Funds Restricted Funds Total funds Prior period Total funds £ £ £ £ 43,052 - 43,052 28,129 57,844 421,760 479,604 156,634 18,175 - 18,175 8,928 18,225 - 18,225 2,314 137,296 421,760 559,056 196,005 12,835 - 12,835 9,053 49,306 444,960 494,266 398,968 3,930 - 3,930 2,843 66,071 444,960 511,031 410,864 (176) - (176) (519) 71,049 (23,200) 47,849 (215,378) (1,576) - (1,576) 3,296 69,473 (23,200) 46,273 (212,082) 306,743 202,957 509,700 721,782 376,216 179,757 555,973 509,700 |
|---|---|
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Action for the River Kennet
Balance Sheet as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | Note 9 | 79,753 | 86,062 |
| Investments | Note 10 | 72,574 | (3,213 |
| Total fixed assets | 152,327 | 159,335 | |
| Current assets | |||
| Debtors | Note 11 | 3,050 | 30,446 |
| Cash at bank and in hand | 460,116 | 376,181 | |
| Total current assets | 463,166 | 406,627 | |
| Creditors: amounts falling due within 1 year | Note 12 | (59,520) | (56,262) |
| Net current assets/(liabilities) | 403,646 | 350,365 | |
| Netassets | 555,973 | 509,700 | |
| Funds ofthe charity | |||
| Unrestricted funds | Note 14 | 376,216 | 306,743 |
| Restricted funds | Note 13 | 179,757 | 202,957 |
| Totalfunds | 555,973 | 509,700 |
Signed by two trustees on behalf of all the trustees
Richard Clarke
Martin Gibson
Date: Zo _ {or 25
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Action for the River Kennet
Notes to the Accounts
1 Accounting policies
(a) Accounting convention
These financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards, the Charities Act 2011, the Charities SORP and the Financial Reporting Standard (FRS 102). The principal accounting policies adopted in the preparation of the financial statements are set out below.
The company has taken advantage of the exemption in FRS 102 from the requirement to produce a cash flow statement on the grounds that it is a small entity.
The charity meets the definition of a public benefit entity under FRS 102.
The trustees have considered the financial position, forecasts and cash flows of the organisation and are satisfied that it is appropriate to prepare the accounts on a going concern basis.
(b) Depreciation
`
Equipment is depreciated at 10%-25% per annum on a straight-line basis in order to write off the cost of the assets over their estimated useful lives. Vehicles and computer equipment are depreciated at 25% per annum.
(c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Restricted fund are set out in note 13 to the financial statements.
(d) Incoming resources
Voluntary income including donations, gifts and legacies and grants that provide core financing or are of general nature are recognised where there is entitlement, actual cash receipt and the amount can be measured with sufficient reliability.
Such income is only restricted when the donor specifies that the grant or donation must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a received basis.
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(e) Resources expended
Expenditure is recognised when a liability is incurred.
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Costs of generating funds are those costs incurred in attracting voluntary income.
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Charitable activities include expenditure associated with restoration and improvement of the River Kennet including research,
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• education and vocational training and the dissemination of information.
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Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with
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• constitutional and statutory requirements.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of
- resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
(f) Grants awarded
Grants are awarded to other conservation organisations, who have agreed a partnership in order to undertake direct, on the ground conservation projects, that achieve the objectives of ARK.
(g) Pension costs
The charity operates a defined contribution pension scheme. Contributions are charged to the unrestricted fund as they become payable in accordance with the rules of the scheme.
(h) Foreign currency
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities at the year end are converted into sterling at the year end rate. Any loss or gain on foreign currency conversion is charged to overhead expenses as incurred.
(i) Volunteers and donated services and facilities
The value of services provided by volunteers is not incorporated into these financial statements.
Where services are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.
(j) Taxation
As a registered charity, the company is exempt from liability to corporation tax on its charitable activities.
(k) Leasing arrangements
Rentals payable under operating leases are charged to the unrestricted reserves on a straight-line basis over the lease term.
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Action for the River Kennet
Notes to the Accounts
2 Income from charitable activities
==> picture [521 x 147] intentionally omitted <==
----- Start of picture text -----
2025 2025 2025 2024 2024 2024
Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds
Funds Funds Funds Funds
£ £ £ £ £ £
Grants received 57,844 421,760 479,604 36,875 119,759 156,634
Membership and - -
43,052 43,052 28,129 28,129
donations
Trading income 18,175 - 18,175 8,928 - 8,928
Investment income 18,225 - 18,225 2,314 - 2,314
137,296 421,760 559,056 76,246 119,759 196,005
----- End of picture text -----
Of the unrestricted income of £137,296 (2024 - £76,246), £36,875 (2024 - £16,875) was a grant from the Environment Agency (EA) to fund the charity's Catchment Management hosting role.
3 Investment income
Of the investment income of £18,225 (2024 - £2,314), £2,265 (2024 - £2,208) arose from investments held with our Investment Advisor and £15,960 (2024 - £106) was interest received from bank deposits.
4 Analysis of expenditure on charitable activities and costs of generating funds
| Staff costs Projects and activities Administration costs Depreciation Reallocation of support costs |
Costs of generating funds Charitable activities Support costs Governance costs 2025 2024 £ £ £ £ £ £ 12,015 125,603 20,014 3,530 161,162 146,625 820 316,693 - - 317,513 231,104 - - 25,123 400 25,523 24,950 - 5,936 897 - 6,833 8,185 - 46,034 (46,034) - - - 12,835 494,266 - 3,930 511,031 410,864 |
|---|---|
5 Analysis of governance and support costs
The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs are allocated to the costs of the charitable activities. Allocations of costs, in particularly staff costs, are based on time records but the charity does not have a detailed time recording system as this would be too onerous, so estimates are made.
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Action for the River Kennet
Notes to the Accounts
6 Net expenditure for the year
Net expenditure for the year is stated after charging:
| Depreciation Independent Accountants fees Staff costs Total remuneration: Salaries Social security costs Pension costs Life assurance Management Project Officer Administration The average number of persons employed by the company was: |
2025 2024 £ £ 6,833 8,185 400 400 2025 2024 £ £ 144,169 136,138 8,604 3,263 8,260 6,820 129 129 161,162 146,350 2025 2024 Number Number 1 1 3 3 1 1 |
|---|---|
7 Staff costs
The emoluments of highest paid member of staff were in the range £40,000- £50,000 (2024 - £30,000 - £40,000 ): pension contributions of £3,708 (2024 - £3,474) were made for this person.
8 Trustee remuneration and related party transactions
No remuneration or expenses were paid to the trustees or committee during the year, except as detailed below.
No director or trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2024 – £nil), save as below.
Martin Gibson is a trustee of the GC Gibson Charitable Trust which has given an unrestricted donation of £6,000 (2024 - £5,000) to the charity.
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Action for the River Kennet
Notes to the Accounts
9 Tangible fixed assets
| Cost: At 1 April 2024 Additions in year At 31 March 2025 Depreciation: At 1 April 2024 Charge for the year At 31 March 2025 Net book value: At 31 March 2025 At 31 March 2024 |
Land Computer and plant equipment Vehicles Total £ £ £ £ 76,563 18,887 24,105 119,555 525 525 76,563 19,412 24,105 120,080 - 14,913 18,580 33,493 - 1,309 5,525 6,834 - 16,222 24,105 40,327 76,563 3,190 - 79,753 76,563 3,974 5,525 86,062 |
|---|---|
The land was acquired in 2012 and has not been revalued. The land is owned jointly with Marlborough Town Council. It is not considered relevant or benefical to revalue the land except to provide for any diminution of value.
10 Investments
| Acquired at cost in year Disposals at original cost in year Revaluation gain/(loss) in year Investments at valuation 31 March 2025 Investments at valuation 1 April 2024 |
2025 2024 £ £ 73,273 68,568 8,362 7,410 (7,485) (6,001) (1,576) 3,296 72,574 73,273 |
|---|---|
All investments are liquid quoted equities and debt instruments held at our stockbroker's nominee accounts.
11 Debtors
| Amounts due within one year: Prepayments and other debtors Grants, invoices, subscriptions and donations |
2025 2024 £ £ 250 21,507 2,800 8,939 3,050 30,446 |
|---|---|
12 Creditors
| Trade creditors Accruals and other creditors Salaries and social security costs Amounts falling due within one year: |
2025 2024 £ £ 7,079 3,057 14,716 30,057 37,725 23,148 59,520 56,262 |
|---|---|
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Action for the River Kennet
Notes to the Accounts
13 Analysis of funding
| Restricted Income in year to 31 March 2025 Environment Agency Amazon Web Services North Wessex Down AONB Defra, FIPL Fund, NWAONB Defra Natural Flood Management Natural England Wiltshire Council, AONB, Lottery Thames 21 Rivers Trust Thames Water EA and Thames Flood Forum Thames Water Enronmental Reparation Fine Marlborough College West Berkshire Council Wiltshire Community Foundation Sulham Estate North Wessex and Heritage Lottery Other organisations and individuals Restricted Income in year to 31 March 2024 Environment Agency Amazon Web Services North Wessex Down AONB Defra, FIPL Fund, NWAONB Defra Natural Flood Management Natural England Wiltshire Council, AONB, Lottery Thames 21 Rivers Trust Thames Water Thames Water Enronmental Reparation Fine Marlborough College West Berkshire Council Wiltshire Community Foundation Sulham Estate Other organisations and individuals Thames Restoration Trust Action for the River Kennet funds North Wessex Down AONB and Marlborough Town |
Balance Income Expenditure Transfers Balance b/f c/f £ £ £ £ £ (10,118) 129,388 (106,983) - 12,287 42,150 - (2,053) 11,922 52,019 182 - (182) - - 9,737 6,872 (6,388) (12,313) (2,092) (45,590) 62,991 (16,197) - 1,204 (5,729) 574 (873) 6,028 - 30,809 - (6,310) (24,499) - 1,868 - - (1,868) - (19,507) 67,500 (12,322) (11,657) 24,014 46,001 80,000 (148,165) - (22,164) 121,243 - (54,638) (2,620) 63,985 3,000 15,616 (15,351) (738) 2,527 3,476 - (314) (3,162) - 19,290 - (829) - 18,461 1,375 10,622 (26,656) 3,700 (10,959) - 42,661 (45,847) (457) (3,643) - 3,036 (2,847) (189) - - 2,500 (3,008) 508 - - - - 32,227 32,227 4,770 - 4,003 3,118 11,891 202,957 421,760 (444,960) - 179,757 Balance Income Expenditure Transfers Balance b/f c/f £ £ £ £ £ 80,400 3,681 94,199 - (10,118) 54,654 (11,033) 1,471 - 42,150 3,000 2,500 5,318 - 182 4,365 24,372 19,000 - 9,737 - - 45,590 - (45,590) 4,224 3,000 12,953 - (5,729) 31,328 33,695 34,214 - 30,809 1,968 1,000 1,100 - 1,868 52,610 28,995 55,112 - 26,493 184,779 - 63,535 - 121,244 - 3,000 - - 3,000 - 6,000 2,524 - 3,476 - 19,290 - - 19,290 - 5,259 3,884 - 1,375 6,865 - 2,095 - 4,770 424,193 119,759 340,995 - 202,957 |
|---|---|
Income is accounted for on an as received basis and negative balances on certain project are carried forward where the charity is certain of receiving income following claims made.
Of the total restricted income of £421,760 (2024 - £119,759) grants from government agencies totalled £324,947 (2024 - £48,631).
Some restricted projects result in minor cost overruns and others in a surplus.Where there is a surplus we contact the funders to ask if the amount can be transferred to other projects. The net amount transferred in 2025 was £32,227 (2024-£nil). We have retained this as restircted funds to complete on nature restoration projects. Where there is an overall deficit the charity transfers funds from unrestricted funds to cover these. The amount in 2025 was £nil (2024 was £nil).
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14 Reserves
Of our total unrestricted funds of £376,216 (2024 - £306,743) we retain £120,000 (2024 - £100,000) as a reserve in cash, cash equivalents or readily realisable investments, which is approximately 9 months costs. It is intended that this would be used to wind the charity down should there no longer be a purpose which can or should be funded.
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ACTION FOR THE RIVER KENNET
I report on the accounts of the Charity for the year ended 31 March 2025 which are set out on pages 5 to 14.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 43 of the 1993 Act
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follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b)of the 1993 Act, and
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state whether
Basis of independent
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect, the requirements to keep accounting records in accordance with section 41 of the 1993 Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Andrew Coombes, FCCA Chartered Accountants David Owen & Co 126 High Street Marlborough Wiltshire SN8 1LZ
Independent Examiner
Date:
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