Registered number at Companies Houge
05298722
Registered number al Charities Commission
1124251
Race Equality Network Limited
(Company limited by guarantee)
Report and Accounts
31-Mar-24

Race Equality Network Llmlted
Report and accounts
Contents
Page
Company Information
Directors, report
Independent Examiners Report
Slalemenl of Financial Aclivillos Ilncome and expenditure accou
Balance sheel
No195 to the accounts
10
Detailed slalemenl of financial a¢livilies

Race Equality Network Limited
(RENI
Company Informatlon
Dlrectorsl Trustees
Mr Yusuf Karolia
Peter Tale
Shadim Hu55ain
Hum8yun Islam BEM
Abdul Ismail
Sofia Mahrnood MBE
Anne Marie Smith
Nadera A￿Illi
Manjil Kaur
Charles Dacres
Ashok Kumar Nair
Ichalr joined 1110120001
{vice chair joined 1108120201
Ilrustee joined 1110120201
Ilruslee joined 1108120201
Ilrustee joined 11101?0001
Ilruslee jolnèd 110912020
Ilruslee joined 1109120201
Ilr(Jsle9 join9d 1109120201
Ilruslee joined 1108120201
Ilruslee joined 1108120201
Ilruslee joined 1110120201
Secretaryl Trustee
Dr Mohammed Salam
Ilruslee joined 1110120001
Accountants Ilnd¢pendenl Examlnersl
Adam & Co Accountancy Ltd
First Floor
1 Edmund Slr8el
Bradlord
Wesl Yorkshirè
BD5 OBH
Bankars
Virgin Mon&y (Yorkshire Bank)
I Wesl9alo
Shipl8y
BD18 3SD
Re9lslered office
Grange Inlerlink Communlly Centre
Summervllle Road
8radford
807 1PX
Reglstered number
Reglslered numb8r 81 Charilies Commlstsion is 1124251
Registered number is 05298722 al Companies House
Prlvate company Ilmlted by guarantee wlthout share ¢apltal

Race Equallty Nelwork Limited
Registered number:
05298722
Directors, Report
The report of the directors and trustees
The directors presenl their report and accounts for the year 31 March 2024
Prlnclpal actlvltles
The company's princlpal activity during the year continued lo be of a charitable organisalion.
Directors and trustees
The following pÈrsons served as direclorsllruslees during the year..
Mr Yusuf Karolia
Icompsny director and Irusleel
Dr Mohammed Salam (company secrolary and Irusl&el
Peter Tale (vice chairl joined 110812020
Shadim Hussaln MBE {Irusleel joined 111012D201
Humayun Islam BEM Ilrusleel joined 1108120201
AbdLJI Ismail Ilrusleel joined 1110120001
Sofia Mahn700d MBE Ilrusleel joined 110912020
Anne Mario Smilh Ilrusle&} lolned 1109120201
Nadera Amlnl Ilruslee) jo5ned 110912020)
Manjil Kaur Ilrusl861 joinèd 1108120201
Charles Dacres Ilru51eel joined 1108120201
Ashok Kumar Nair Itrusteel jolned 1110120201
Slgnlflcanl changes. development5 and plans for the future".
In the lim8 of adversity and uncertalnly for the voluntary and community se¢lor, we face
many challenges lo grow, and the challenge to harness our energy and inspire people lor a
fairer socioly and r8clal lusllce, are what we conslder lo be the Smporlanl laclors of REN'S
existence. REN h8$ a track record ol successfully engaging In raclal justice and racial
inequality work by pushing ourselv88 lo be al the forefront of addresslng racism and its
impact on our communities.
As the strategic lead for the Global Majorilylod VCSE sector with a membership ol over 60
grass roots organisalions who work lirelessly lo support fjlhnically diverse, marginali5ed and
seldom heard Cofnmunilies across Bradlord district and Craven; we believe Ih81 Bradlord
dlslricl 2nd Craven can lake a slra16gic approach lo eradicaling racism and inequities 18¢ed
by Global Majority ¢ommunilies al all levels, through decislon-making, public service and
facililaling a delivery programme Ihal is inclu5iv8 of community eng8gem8nl, collaboralion
and parlner5hip5. It is 8 model that should be core lo the dislricl's growth and prosp@rlly.
Over the past year, REN has successfully Implemonled this model to amplify the voice of
our membership by working collaboratively with key stakeholders such as Bradlord
Melropolilan Council. the Wosl Yorkshire ICB other VCS infraslruclure organisalions In
order lo bLiiI(5 capa¢ily of Our tslhnically diverse communities and lo achievg equity on a day-
to-day basls.
With a stfong Board ol Directors and a skilled staff team al the helm, we have made
enormous strides during the last year. Our success and growth has been tough bul
achievable through the strategic direclion and brillianllgadership frotn our chalr Yusuf
Karolia and all the tru51ees and I thank them for their continued support. Our achlevemenls
over the past year would not have been possible wiihoul the funding we hav8 recoived. We
have securèd Ihree-year funding froni Esmee Fairbairn which has enabled us lo develop our
capacity by recruiting two dedicaled and passionate lull lime Programme Development
Offic8rs. Through this lunding we will embark upon an ambitious programme ID transform
the organisBlion and lo ensure we are able lo fulfil REN objectives particularly in comballing
racism and racial inequÈlily. What is nol8WOrthy 18 that the funding we have received from
Esmee Fairbairn will allow REN to develop our naliDnal profile. Thal work is underway, and
il marks an exciting lime lor REN lo be able lo work toward5 national recognition and lo
influence agencies al a regional and national level.

Race Eqtsallty Network Limlted
Reglstered number:
05298722
Directors. Report
We are looking fomard lo building on our success in the year ahead which includes
developing an Anli.Racisl Strategy for Br8dlord dislricl and Craven and also building on our
relationships with our regional. n211onal and international patlners so that we can collectively
continue lo make a crucial differ&nce lo tackle raclsm, inequalities and Inequity and Improve
the lives and wellbeing of our ethnically diverse communities.
The organlsatlonal structur8 and how declslons are made.,
The organisalion is run by an elected board of Direclorsl Trusle8s. who are elocled from the
memborship of the organlsalion. Th8 board mombgrs meet on a regular basis lo discuss the
affairs ol the org8nisation and make the declsions from the board room
Method of electlon of the members of the board of trustees..
One-lhird ol thè Board Members are elecledlrg-elected al an AGM each year by a simple
majority.
The position of Chalr, Treasurer and Secielary are also elecled each year following the
AGM. A quorom is required15 members minimum) and uplo 16 members, maximum can be
elected.
Membership is based on th8 organls81ions, who wish lo support th8 aclivi118s ol REN and
represenl their 8ME organSsallon. The meelin9s are held al Isasl four limes a year.
Rlsk Management
The directors and trustees have a duly lo identify 8nd review the rlsks lo whlch the ¢harily is
exposed and lo ensure that appropriate controls are in place lo provide reasonable assurance
againsl fraud and error
Related Partles
REN works with a wlde ran9e of organisallons al a local, region818nd nalional18vel, Locally
these include voluntary and Community groups, the Bradford Melropolilan Council, Bradford
Infr8slruclure District Partnership, Bradford and ASredal8 Teaching Primary Care Trust, Wesl
Yorkshire Police, 8rAdford Community Empowerment Network, c)Iher the Gov8rnmenl Bodies,
Nationally these incliide N81ional Associdlion of Voluntary and infraslruclure organisalions,
Corona Viws Government Support Units Community Action and vol￿ for Change in England.
The Board would Ilke to thank the followlng fundlng bodle8 for thelr assSstance and
support during the perlod:
Bradford Council, Runnymede Trust. Wesl Yorkshife Heallh & Care Parlneiship,
and Public Health England, Esmee Fairbairn and Social Investment BLisiness.
We would also like lo thank all Iho other slalulory and none slalutory organisalions
who have supported REN'S aclivilies.
Key Achlevoments, Perlormance and Impact
In Ihls Ilnan¢ial year REN has led the delivery of various programmes and services including..
VCS Infrastructure SuppoTt.' As a result of the council's budget cuts to the VCSE
Infrastructure Support Pro8ramme, REN has been working c105ely with other Infrastructure
oiganisallons includin8 VCS Allia nce, CNet, Participate, Hale ar)d Communlty Action
8radford & District ICA8ADI, to review and develop the new service VCSE support
specilicatlon which aims to support all communities across the dlstrict. The VCSE
infrastruclure or8allisations aim to work collaboratively to deliver the Health and Care
Partnership's vision to keep people 'happy, healthy and at home, Through taking a data-
driven, continuous-learninE and asset-ba5ed approach, these VCSE infrastructure
organisalions will deliver opportunities for people to take control of their own health and
wellbeinE, and to contribute to the partnership's insight and intelligence aboLSt the
communities wo serv@. REN will play a key role in ensuring there is accountability across
the main elements of the new Infrastructure Support Programme.

Race Equality Network Llmlted
Registered number:
05298722
Directors, Report
Root Out Racism MovémÈnt.. Over the past year, we have been working with a number of
organisations across all sectors to ensure delivery of inclusive programmes and projects
that bring together people with different experiences and backgrounds. REN have been
inle8ral in mobilising phase two of the Root Out Racism IRORI movement strives for
incluslon by supporting the system to achleve fair race equality outcomes lor everyone
across the public sector in West Yorkshire. The ROR workstream is a key focus for REN
Boin8 forward as we are leading on two workstfeams within the programme: Tackling
Racisn) In Maternity Services and Developing an Anti-Racism Strategy for Bradford distrlct
nd Craven which will be co-designed wlth a range of partners and stake holders from the
public and VCSEF sector.
Community Health Champions: Bradford West has the hlghest deprivatlon level of all the
Community Partnerships within Bradford Distrlct & Craven. REN are worklng in partnership
with Reducing Inequalitie5 Alliance IRIAI to deliver the health champions project which
aims to support interventions aimed al reduclng health Snequallties and improve health
outcomes for ethnically diverse communities Ilving In 4 ward priorlty are35 including Cityi
Manningham, Little Horton and Toller. REN have commlssloned four member organisatlons
to re¢ruit champions including Bangladeshi Youth Org3ni5ation IB YOI, Grange Interlink,
Glrlington Centre and European Drom CIC who are being tralned on the impact of chronic
diseases such as cancer, heart disease and hypertension in order for champion5 to engage
wlth thelr own communlties to improve health literacy.
Research Champlons-Harne55ing The Power of Communlties IHPOCI: We worked in
partnershlp with VCS Alliance and WY Integrated Care Board IIC81 Research &
Development team to recruit and support 3 paid research champlons from the Black,
Pakistani and Bangladeshi community. Research Champions were trained to stfen8then
and develop engagoment within research prugrammes such as Ba81 for expectant mums
3nd Genetics and Ilealth for those from ethnically diverse and underserved
communities, Research champions also supported health and care professionals and
systems understand patienl experience of research and bulld mechanism5 that 5UPPOIt
longer term dialogue around health research and lived experience.
Local Access Programme.. Our Executlve Director sits on the board of the Local Access
Bradford District ILABDI which aim5 to support REN member or8anisations that have
inveslable ideas for them to move along the pathway of social investment. Due to the lack
of understanding and awareness about Social investmei)t opportunities for VCS
or8anisatlons, REN are worklng closely with the delivery partners, Impact Hub Bradford and
Airedale Enterprise Servlce5, to build a pathway for them to SUPPOft REN members explore
and take up social investment opportunities. Since the programme started, three of our
member organlsations have been supported throuEh the LABD programme and we hope
that more of our member5 are supported going forward.
REN Members Meetlngs: In May 2023, we launched our bi-monthly members meetings lo
bring our members togethe¥ and discuss issues their communities are facing around racism
and inequality, Our members meetings are really well attended with over 35 members in
atlendance, as we provide a safe space for gra55 roots or8anisalion5 to build their capacitv,
access information, Metwork and develop partnerships lo submit joint funding bids which
will enable them to develop and strengthen their work streams in order to support their
own comrllunities, In order for our members to understand how public and private Sector
oroanisalions are fulfillino their commitments and delivering inclusive services. we invite

Race Equallty Network Llmited
Reglstered number..
05298722
Directors, Report
key stakeholders to meet our members. This year we have been joined by VC5 Alliance,
Community Action Bradford And District ICABADI, Impact Hub Bradford, Reducin8
Inequalities Alliance and Bradford coun¢ll.
Wlndrush Conference,. In July 2023, to celebrate the 75th anniversary of Windrush, we
h05ted the first every Windrush 7 C's Conference in partnership willi Windrush
Generations. The conference was the first of its kind and highlighting the 7 C's of Windrush
Including Contributions, Commernoralions, Celebrations, Caro, Ch311enBes, Conflicts and
Change. The conference was a huge success with over 100 people from across the country
In attendance. We were joined by local and national keynote speakers at the conference
including Bishop Dr Desmond Jaddoo MBE, Cllr Susan Hinchliffe, Duncan Cooper IRIAI
ong5t others,
VCSE Commlsslonlng Strategy.. REN have been workin8 In partnership with VCSE
InfrastructLsre org3nisation5 to help shape Bradford Council's Adult Soclal Care'5 5-year
commissioning strategy for the VCSE Sector. The overall ambition of this piece of work Is to
support a sustainable and diverse local VCSE sector th8t works in partnership with the
statutory sector to support Bradford residents to be happy, healthy and at home, to create
place where people have choices about their health and wellbein8, and to ensure there is
equity throughout the council's commissionin8 processes. Our Executive Director meets
with commissioner5 and other VCSE leads regularly to ensure commissioning processes and
policies are fair, equitable and transparent to meet the needs of the ethnically diverse
populatlon of Bradford.
West Yorkshlre VCSE Voicos Panel: REN have continued to feed Into the steering group for
Ihe West Yorkshire Health and Care CommLsniiV Voices Panel In order to amplify the voices
of grass foots communities at a reglonal level across West Yorkshire. £l.Im was èllocated
to the VCSE across West Yorkshire in April 2023, with a particular focus on tackling health
inequalitie5, capacily building and sustainability. £IIO,000 of this lunding was allocated to
the VCSE Voices Pènel who worked together to establish and co-design a dellvery model of
supporting grass roots organisations receive £3,000 to develop a business plan and funding
blds. In addition, REN has successfully advocated for funding from the Bradford funding
pot, to develop a part tlme, 12-monih post for Black Health Forum to work with the health
and care sector to reduce Inequalities for 81ack Women accessing maternity services.
Equality, Diverslty & Incluslon Training.. Over the past year, REN have successfully trained
over 800 staff from a ra nge of sectors and backgrounds afound Equality, Diversity and
Inclusion, We have worked closely with EDI training specialists to develop thrèe new
training programmes including Power and Belonglng, 8lack Identlty within Britain and
Decolonising the CurriculLim, Due to the iricrea5e in demand for our EDI training
programmes frorn the public and VCSE Sector, we hope to develop and deliver more
training programmes in the coming year which is dependent on fundinE which will help
build our capacity and resources.
Da¥slWeeks/Months of Awarene5s'. As always, we highlight the important dayslweek5 of
awareness impacting Global Majority communitie5 through our social media platforms. We
work collaboratively with members, partners and stakeholders across the district and
beyond borders to organTrze events for Race Equality Week, Refugee Week, International
Roma Day* Black History Month, Inclusion Week, Holocaust Memorial Day, South Asian
Heritage Month and Islamophobia Awareness Month amongst other day5lweeks of

Race Equallty Network Llmlted
Reglstered number:
05298722
Directors. Report
significance.
REN Newsletter.. We have a monthly new51etter that ha5 over 400 subscribers across the
VCSE and Public sector professionals. The newsletter Is a fantastic opportunity for our
members, partners and Stakeholders to keep up to date on all our areas of work including
racial justice, partnership development, d3ys/weeks of awareness, funding opportiinities,
events and REN recommends which features some of favourite Global Majority focussed
books, TV shows arid films.
The trustees guarantee to contribute an amount not exce8ding £1 to REN'S assets
in the event of wlnding up. Tot81 guaranlees glven 1$ £12.
Small company provisions
This report has beèn prepared in accordance wilh the provisions in Part 15 01 the Companies Act
2006 applicable lo companies subject lo the sm811 companies rggim8.
This report was approved by the board on
and signed by Ils order.
Mr Yusuf Karolia
(Chaiil
Dr Mohammed Salam Isecrelaryl

Race Equality Network Limited
(RENI
Independent Examlners Report
Report to the dlrectorltrustee on the preparation of thè unaudlled stalutory accounts of Race
Equallty Network Llmlted 31 March 2024
Responsibilitles and basls of report
I report to the trustees on my examlnation of the accounts of the above charity
I'the Trust") for the year ended 3110312024.
As the charity's trustees, you are responsible for the preparallon of the accounts in
accordance with the requirements of the Charitles Act 20111.the Ail").
I report in respect of my examinatlon of the Trust's accounts carried out under
section 145 of the 2011 Act and in carrylng out my examination, I have followed all
the appllcable Directions given by the Charity Com mlssion under section J451511bl
of the Act.
Independent exarniner's statement
rhe charity's gross income did not exceed £250,000 and l am qualified to undertake the
examination by being a qualified member of ACCA.
I have completed my examination. I confirm that no materlal matters have come to my
3tlenlion in connection with the examination (other than that dlgclosed below ') which
gives me cause lo believe that In, any material respect..
'the accountin8 records were not kept in accordance with section 130 of the Charlties Act,.
or
'the accounts did not accord with tl)e accounting records,. or
*the accounts did not comply with the applicable requirements conceriiing the form and
content ol accounts set out in the Chèrities IAccounts and Reports) Regulations 2008 other
than ai)y requirement Ihat the accounts give a 'trLie and falr, view whlch is not a matter
consldered as part of an independent examination.
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
Shahbaz Munir IFCGAI
Adani & Co Accountancy Ltd
Chartered Certified Accounlanl$
Firsl Floor
1 Edmund Street
Bradlord
BD5 OBH
The i&port was èpprov8d by the 117depende171
Examiner on..
?L

Race Equality Ngtwork Limlted
Statetnent of Flnanclal Act¢vities Ilncome and expendlture account)
for the year ended 31 March 2024
Unre51ricled
2024
Reslricled
2024
Tolal
2024
Total
2023
Incomo
Gran15 & Donations
71,230
92.000
163,230
95,603
Net Incomlng Resources avallabl8 tor
71.230
92,000
163.230
95,603
Règourc&s axponded
Disliibulion c0515
Direct charitable expenditure
Management and admlnislration ol the charSty
Other operating incom8
15,9491
{8,7491
111,4831 1108,6541
114,6981
1120,1371
120,9161
1132,9811
Total resources expended
117,4321 1117,403
134,835
153,897
Nel In¢omlng Resources before
revaluatlons and inv•stm6nt asset
53,798
125,4031
28,395
15e,294)
Income from inveslmenls
Interest r8ceivable
Inleresl payable
Adjuslm8nl lo reseNes
6,204
6,204
3,177
418
14181
84
Net Movement In funds
60,002
125,403)
34,181
155,0331
Total funds brought forward
1174,531)
372,897
143,333
198,366
Total f unds carrled forward
114,529
347.494
177,514
143,333
The nel movement in funds referred lo above is Ihe nel in¢oming resources a5 defined in the Sialemenl ol
Recommended Praclice for Accounting and Reporting issued by the Charily Commissioners for England &
Wales and is reconciled lo the lolal funds as shown in the Ba12n¢e Sheel Notes as required by the sald
Slalemenl.
All activities derive from ¢onlinuing operation5
The notes and schedule to the Stal•mènt of Flnancial ActlvStles
form an Integral part ol Ihesg a¢¢ounls

Race Equality Notwork Limited
Registered number:
Balance Sheet
as at 31 March 2024
05298722
Notes
2024
2023
Current asset5
Doblors
Investments held as currenl
assets
Cash al bank and in hand
12.590
187.945
187,945
133,313
145.903
Cr•ditors: amounts falllng due
wllhln one year
110,4311
12,5701
Net current assels
177,514
143,333
Not Assèts
177,514
143.333
Capltal and regerves
Income and expense account
177,514
143,333
Capltal and reserves
177,514
143,333
Th8 dir8clors are s81isli8d that lh8 company is enlilled lo exémption Irom the requirement lo obtain
an audit under secllon 477 of the Companies Acl 2006.
The members have not r8quired the company lo oblain an audit in a¢¢ordan¢e with section 476 01
Ihe Act.
The directors acknowledge their responsibilities for complyin9 wilh the requiremenls ol Ihe
Companies Act 2006 with respect lo accounting records and the preparation of accounts.
The a¢coun(s have been prepared and delivered In accor(Sance wilh the spgcial provision5
applicable lo companles subject lo Ihe small comp2nie8 regim8. The profil and Ioss accoLinl has
not been delivered lo the Registrar ef Companios.
Dr fv1ohammed Salam
Secrolary
Approved by the board on.

Race Equality Network Limited
Notes to the Accounts
for the yoar ended 31 March 2024
Unre51rlcted
funds
At 1 Aprll 2023
IPrevlous yearl
Restrl¢led
funds
0•6ignaled
funds
Total
Funds
Tangible fixed assa
Current Assets
Current Liabilities {credilorsl
Long Term Liabililios Icrgdilors)
16.049
129,854
12,5701
145,903
12,5701
16,049
127.284
143,333
11%
89%
loo%
6 Related party transactlons
There wer8 no other related party Iransaclions.
7 Conlrolllng party
The direolors (truslee81 hav8 control over the company.
8 Othgr Informallon
R8C8 Equalily Network Limited is a Pfivale company Ilmiled by guarantee and incorporated In
England. Ils registered office is..
Grange Interlink Communlly Centr
Summerville Road
Bradford
BD7 1PX
12

Race Equality Nètwork Llmlted
Detalled statement of f Inanclal activities
for the yèar ended 31 March 2024
This schedule does not fomi p8rt of Ille st8111lory accout?ts
Uiireslricled Reslricled
2024
2024
Total
2024
Total
2023
Incoming Resources
Community Action Bradford and Dislricu 8radford CABAI
COVID Communily Champion Programme
Social SESF Grant
Leeds Teaching Hospital NHS Tfust
Other misc. and services income
City BMDC Grant
CBMDC ARG-VCS Members
Inlraslruclure Support
Trainlng Learning and Consultsncy
Enlerprise Fund
NHS Vaccination Booster Uptake
LABD Meeting
ESMEE Fairbairn
VCSE R8search Champions Programme
Enterprise Developmgnl Fund
Wesl Yorkshiro Health & Care Parlnershlp
Grants & Donatlons
5,000
34,050
22,200
7,853
500
29,030
29,030
6.500
3.200
12,000
6.500
3,200
12,000
19,50D
2,500
70,000
10,000
10.500
11,000
19,500
2,500
70,000
10,000
10,500
15.000
71,230
92,000
163,230
95,603
Adjuslmenl lo res8tves
Add.. Interest receivable
Total In¢omlng resources
14181
6,204
77,016
14181
6,204
169,Q16
84
3,177
98,864
92,000
Costs of a¢llvltlg8 in furtheranco of the charlty's objectives
Dlrect costs
Purchases
Decrease in stocks
Covid-communily Champion Project
Vaccination Booster Projecl
VCSE Research Champions Programm8
202
202
530
8,219
530
8,219
5,747
14,698
20.916
5,747
5,949
8,749
20,916
Olstributlon costs
Dlstribulion costs
Admlnlstratlvè expenses
Employee costs..
Wages and salarles
Pensions
Einployer's Nl
Slaff Irèlning. dbs, travel and welfare
Recruilmgnl expenses
Travelling and accomo(ialion
Other deductions
61,357
1.367
778
587
849
503
<486)
64,955
61,357
1,367
778
587
849
503
14861
64,955
55.529
1,291
519
427
228
389
12,990
71,373
Premises costs..
Rènt
Cleaning
8,000
8,000
9,250
8.008
8.008
9,250
General adminislr8live expeiises..
Telephone and inlernel
Slalionery and printing
Subscriptions
Events Calerin9lrelreshmenls
328
1,088
840
334
1.088
840
1,552
643
3,461
513
7,330
1,552

Race Equality Network Llmlted
Detailed statement of financial activltles
for the year ended 31 March 2024
This schedule does not forn? p8rt of the slatiilory accounts
Unreslricled Restricted
2024
2024
Total
2024
Total
2023
Incomlng Resources
Insurance
Equipmenu resources hire
Computers, IT. soliw8ro and websile
Oalabase licence
Conference, other (raining. seminars and Irg work shc
SundTy and general expenses
1,417
1,417
1,292
600
1,800
3,393
6.174
8,615
36
20,474
3,393
6,174
8,615
36
23,449
200
15.839
2,975
Legal and professional costs..
Accountancy fees
Consultancy fees
Advertising, marketing and promotions
500
500
15.510
7,715
23,725
500
30,289
5,730
36,519
15,510
7,715
23,225
500
Total admlnl8tratlve expenses
11,483
108,654
120.137
132.981
Othèr operallng Incom8
Other operaling income
Net Movement In funds
59,584
25,403
34,181
55,033
14