REGISTERED CHARITY NUMBER: 1130958 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR REDHILL 8APTIST CHURCH G8J Finan¢lal Limited Sterfing House 27 Hatchlands Road Redhill Surrey RH16RW
REDHILL BAPTIST CHURCH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examlner's Report statement of Financial AGtivktles Balance Sheet Notes to the Flnanclal Statements 8 to 15 Detailed SLitement of Financial Activities 16
REDHILL BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees presenl their report wilh the financial statements of the charity for Ihe year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slatement 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 1 January 2019).
REDHILL BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES ObJeGtlves and alms The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advants education and carry out other charitab18 PLtrpos8s in th6 United Kingdom andlor other parts of Ihe world. ACHIEVEMENT AND PERFORMANCE Ministry & leadership The church is immensely gratefijl lo Inlerim Lead Minister, Revd. Rob Stevens, for his leading during much of 2023 8nd which came to 8n end on 31 January 2024. He brought relevant eXperIen in those areas where the elders were lacking, and for his sympalhetic and pastoral care of the congregation was much appreciat8d. W8 began the process of searching for 8 new Lead Minister following th8 Baptist Union proc8ss guidelines. This culminated in October 2024 when the church called Revd Jonathan Hardwick lo the position of L8ad Minister of Redhill Baptist Church, which h8 agreed to and he joined us at the beginning of February 2025. There were four elders at the stsrt of the year. Durlng the year elders resigned and one more was added, making a final team of three. The church is grateful to Rosie Davis and Revd Rob Stevens for their contrlbutions, and for Lee becoming part ofthe lead8rship t8am. Sunday Worship The church gathered for public worship every Sunday in 2024 and held additional seNlces at Easter and Christmas. Some of the momlng services were the mora infomial Cafe Church style s8rvices, and once a month there was an evening se1 ofworship on a Sunday evenlng. Groups for children and young people aged 1-18 were on offer through the year except in the surnmer holidays, when the main servlce was for all ages. P8Storal Care A pastoral car8 team provided si9nificant amounts of h81p and support to the church as well as to the wlder community. Members of the congregation also cared and helped one another, whlch has been encouraged and appreciated. Prayer The church continues to hold a week of prayer on three occasions as the church sought God's leading for the futura. In addition to this th8re ar6 W86kly prayer groups. Youth & Children's Work In addition to th8 Sunday morning groups Mettle (for 15-18s} has continued to meet weekly. usually for 8 meal and Bible Study and discussion. The church continues to support a school charity, Sparkfish, financially and giving opportunities for them to tell us about their work. Work with older people Our Link-up group for older folks at RBC (over 551 meets weekly. Attendance 15 good and the ministry is very much appreciated by all who attend - For several people this is the only time they meet with Christians and hear the Gospel. The programme includes a variety of events with monthly setvices, lunches, visiting Speakers, times of sharlng as well as news updates and prayers. Families work Our weekly Baby-grow group for up to one year old with their adults continues to meet for refreshments, toys and songs. Our Toddlers group for 1 to 3 year olds, ran through year as well.
REDHILL BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Community We run a Food Club in partnership with the Reigate and Banstead Council, which meets weekly in our church premises. A good t8am of volunteers from the church are involved with picking up grocery donations from local supennarf(ets, as well as donations from our church family, and arranging these for our clients (arouné 30 to 35 each week). Administration Our part time administrator provides the core administrative function for the church ensuring the smooth running of the church. This includes managing visitors and users of the site, dealing with property related issues and liaising with those responsible for maintaining the premises, and performing basic financi81 funcllons and bookkeeping. Buildings - Facilities Maintenance Team. General maintenance of the church and manse have been ongoing through the year. FUTURE PLANS At the time of preparing this report we ar8 looking forward to welcoming our new mlnister who starts th8ir tenure in February 2025. In addilion to Ihis we are actively looking to fill vacancies in kèy ro18s, including identifying additional Trust88S. We plan to focus on re-evaluating church lrfe and ministries as we emerge from a challenging time in our pastora vacancy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty is controlled by Its governlng document. a deed of trust and constltutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 1130958 Principal address Hatchlands Road Redhill Surrey RH16AE Trustees Ms R Davls (resigned 24111120241 C Tewkesbury (resigned 113120251 T Stuart L Newland (appointed 181112024) Rev J Hardwick (appointed 31212025) Independent Examlner GBJ Financial Limited Sterfing House 27 Hatchlands Road Redhill Surrey RH16RW
REDHILL BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDLD 31 DECEMBER 1024 REFERENCE AND ADMif41STRATIVE DETAILS liuciure. goveinancp and i]niC geflienl T"tio Oldr4 aro Ihn rtlririiy TiiJ.51FY•S, aiKJ Itwy are resiK)nsiblo lai thr• onVorrWn ol Ih(J Churth and Ik)o lullilmeiil of 1178 lJurFx)s8 Iliroiigh lis Af.liviliQS, ¥1Ciing Accoidinq lo t1 will ol Grxj as discern bv Ilie Lliiiich Moin1$. Muuli¥iq -1.tiv LtIlJTch's 01(Jani%alic)nal 4inJCturfS aiid the procodiires lof Ihts appoinlmgnl ol IhB leadership afo pL-*rilipd iii Ilie fliiifch Consiilulion This consiilulion was apwov6d by Iho Chufch Mooling and can only bo .'JIIL4fi.d t)y a rEJf>oliilion al o Spocial Lhufch m¢1, Mtsiiliii(J I l)£. Clldiily IiustvL&S aiu rJV¢4111? of Ihf: ¢iQLJd Io Oxdminfi 11)Lts maior financial .Iralcgic and owr.Ilional lis.% faced by Ilifrj (;IIui Ll I Wv ioii(Ifni Iliat Sy51vfliS IiavL. boeri IdblisliLyl bo Iliiil n6LC'5&IlY slop5 Ccin bo laKLin 10 niariago Ind iyiiliuali. Ilioits l•&hts. Appioved by ardor of th& bo&ird ol liusloes on 30 Or.lobor 2025 8nd slgned ori ils bolialf by: L Nowland - Trusleo
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDHILL BAPTIST CHURCH Independent examlner's report to the trustees of Redhlll Baptist Church I report to the charity trustees on my examination of the accounts of Redhill Baptist Church (the Trust) for the year ended 31 D8c8mber 2Q24. Responsibillties and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requlrements of the Charities Act 2011 Ilhe Act'l. I report in respect of my examination of the Trust's accounts carrled out under Section 145 of the Act and in carrying out my examination I have followed all applicab18 Directions given by the Charity Comrnission under Section 14515)(bl of the Act. Independent examlner's statement I have completed my examination. l Confinn that no Thaterial matters have come to my attention In connection with the examination giving me cause to believe that in any material respeGt.' accounting records were not kept in respect of the Trust as r8quir8d by Section 130 of the Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out In the Charlties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no conc8ms and have come across no other matters in connection wllh the examination to which attention should be drawn In thls report In ord8r to enable a proper understanding of the accounts to be reached. Jonathan Hillier ACA FCCA GBJ Financial Limited sterling House 27 Hatchlands Road Redhill Surr8y RH16RW 30 Odober 2025
REDHILL BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Restrlcted funds Notes INCOMEAND ENDOWMENTS FROM Donations and legacies 172,878 6,941 179,819 254,330 Charltable activltle8 Charitable 8Ctivlty 14,757 14,757 14.400 Investment income 1,765 1,765 1,041 Total 189,400 6,941 196.341 269,771 EXPENDITURE ON Charitable activiti08 Charitable activity 173,526 10,171 183,697 217,451 NET INCOMEIIEXPENDITUREI 15,874 (3,230) 12,644 52,320 RECONCILIATION OF FUNDS Total funds brought foNard 895,962 164,570 1,060,532 1,008,212 TOTAL FUNDS CARRIED FORWARD 911,836 161,340 1,073,176 1,060,532 The notes form part of these financial statements
REDHILL BAPTIST CHURCH BALANCE SHEET 31 DECEMBER 2024 2024 Total lunds 2023 Total Ivnds Unr83trlctod fund Roslrlcted funds Notes FIXED ASSETS Tdngiblè Lisbels 679,638 150,555 830,193 834,726 CURRENT ASSETS neblor4 Cash al bank 18,978 243,999 18,978 254.784 10,785 94.071 282,977 10,785 273,762 264,914 CREDITORS Amounts fallinq duf) wilhln ono yeaf (30,7791 130,779) (39,108> NET CURRENT ASSETS 232,198 10,785 242,983 225,806 TOTAL ASSETS LESSCURRENT LIABILITIES 911.B36 161.340 1.073,176 NET ASSETS 911.836 161.340 1,073.178 1 C0,532 FUNDS Un¥)slvi(:,IwJ lili Ids RcilyiilL,d IiiTid 911,836 161,340 895 91??. TOTAL FUNOS 1,073,176 1,Cf)0. 532 The IinL?ncial slaiemenls wère approved by lh8 lloard of fi usiees and au1har1%f lor issue on 30 Octobor 2025 anrl werp signwj on 114 tjolirill by L Newlund "I rustee IIIL Iioio lonii Pclli Ot Iliose1iiiaiicidl sl£)ieiiioiiis
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial slatements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been pr8pared undsr the historical cost convention, There are no material uncertainties about the charily's ability to continue. In¢ome All incoming re80urces are included in the statement of financial activities when entitlement has passed to the charity. il is probabl8 that th8 economic benefits associated with the transaction will flow to te charity and the amounl can be r81iably me8sured. The following specific polici85 are applied to particular categories of Income: Income from donatlons or grants Is recogni$ed when there is evidence of entitlement to Ihe gift, receipt is probable and its amount cÉn be measured reliably. Legacy income is recognised when receipt is probable and entitlement is established. Income from donated goods Is measured at the fair value of the goods unless this is impractical to m8asure reliably, in which cas8 the value is derived from th8 Cost to the donor or the estimated r8sale value. Donated facilities and services are recognSsed In the accounts when recelved If the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services Is recognised with the dellvery of the ¢onlr8¢ted servlce. This is (Jassified s unrestrlGted funds unless there Is conlractual requlremenl for 11 to be spent on a particular purpose and returned if unspent, in which case it may b& regarded as restricted. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expendlture includes any VAT which cannot be fully recovered, and is classified under headings of the stslement of financial a¢tivities to which it relates.. Expenditure on raising fvnds includ8S the costs of all fundraising activit18S, 8vents, non.charitable trading acts'vities, and Ihe sale of donated goods. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither relatèd to raising funds for thé charity nor part of its expenditure on Charitable aclivllies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated direcuy to thal activity. Shar8d cosls are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - contlnued Tangible fixed assets Tangible fixed assets are stated al cost, excepl for the freehold Church premises, which are ststed at valuation obtained in 1995. The premises have not been revalued since 1995 as the Eldership considers that the c05t5 involved in obtaining an annual valuation would OUe1gh the value of the information lo the Church's members. Freehold property is not depreciated as It Is the Eldershlp's poIY to maintain the buildings lo such a standard that th8ir 8slimaled residual value is nol less than their book value, subject to mark8t fluctuations. Depreciation is provided at the following rates in order to write off eaGh asset over its estimated useful life.. Improvements to property - 7Q/o on cost Computer equipment - 25 /0 on cost Taxatlon The charity is exempt from tax on it5 ch8ritsble 8CtNities. Fund accounting Unroslricted funds are avai18ble for use at the discretion of the trustees to further any of the charity's purposes. Designated funds aro unrestricted funds earmarked by the trustees for particular future projects or ommitments. R88trict8d funds are subj8Cted to r8strictions on their 8xpendilur8 declared by the donor or through the terms of an appeal. and fall Into one of two sub-classes: reslricted income funds or endowment funés. Pension costs and other postwretlrement benefits The Church contributes to pension arrangements for the Pastors. The Pastors contribute to a defined contribution stakehalder pension scheme. The contributions are charged in Ihe accounts when due for paym6nt. The Church also operates an suto-enrolment defined contrlbullon scheme for other staff members In accordance with pension regulations. The contributions are charged in the accounts when due for payment. Provlslons Provisions are recognised when the entity has an obligation al the reporting date as a result of a past event, it Is probable Ihat the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provision are recognised as a liability in the ststement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation al the reporting date and subsequently reviewed at each rèporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statemant of financtal activities in th8 period it aris8s, and is allocated to the appropriate expenditure heading. continued.
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnuod FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT INCOME 2024 2023 Dep051t account interest 1,765 1,041 TRUSTEES. REMUNERATION AND BENEFITS 2024 2023 Tru5tees' salartes Trustees, pensions paid 35,433 2,498 37,931 No sums were reimbursed to the Elders for their work as Elder8 in either year. The expenses recorded are expenses pald In relation to thelr ordinary work, not their work as Trustees. Trustee5' expenses 2024 2023 Trustees, expenses 1,524 STAFF COSTS 2024 2023 Wages and salaries Social security costs Other penslon costs 33,853 77,017 981 1,411 12 33,865 79,409 The average monthly number of employees durlng the yoar was as follows.. 2024 2023 Staff No employees received emoluments in eXs$ of £60,000. -10- continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted fund Restrlcted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 250.170 4,160 254.330 Charltable actlvities Charitable activity 14,400 14,400 Investment income 1,041 1,041 Total 265,611 4,160 269.771 EXPENDITURE ON Charltable actlvltles Charitable aclivily 214,189 3,262 217,451 NET INCOME 51,422 898 52,320 RECONCILIATION OF FUNDS Total funds brought forward 844,540 163,672 1,008,212 TOTAL FUNDS CARRIED FORWARD 895,962 164,570 1,060,532 TANGIBLE FIXED ASSETS Freehold Improvements property to property Computer equipment Totals COST At 1 January 2024 Additions 759,257 80,162 768 53,547 1,300 892,966 2,068 At 31 December 2024 759,257 80,930 54,847 895,034 DEPRECIATION At 1 January 2024 Charge for year 6,S87 5,374 51,653 1,227 58,240 6,601 At 31 December 2024 11,961 52,880 64,841 NET BOOK VALUE At 31 Dember 2024 759,257 68,969 1,967 830,193 At 31 December 2023 759,257 73,575 1.894 834,726 continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS - contlnu8d The freehold church premises were revalued in 1995 an the surplus on rav8luation 8t that date of £150,000 is included in the above totsl of £759,257. DEBTORS.. AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Accrued gift aid Prepayments 15,000 3,978 166,029 4,814 18,978 170.843 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Olher creditors Acctued expenses 3,583 27,196 3,273 35,835 30,779 39,108 MOVEMENT IN FUNDS Net movement In funds At 31.12.24 At 1.1.24 Unrestrfcted funds General fund 895,962 15,874 911.836 Restrlcled funds Propety Revaluation ReseNe Covid-19 Fund Bassra Bereavement Fund Redhill Communlly Food Group CMES CoMput&r Equipment 150,000 2,303 102 6,681 5,071 413 150,000 1,485 102 6,743 2,597 413 (8181 62 (2,4741 164,570 (3,230) 161,340 TOTAL FUNDS 1,060,532 12,644 1,073,176 -12- continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement In funds Unrestrlcted funds G8ner81 fund 189.400 (173,526) 15,874 Restricted funds Covid-19 Fund Redhill Communlly Food Group CMES 3,182 2,583 1,176 {4,000) (2,521) {3,6501 (818) 62 (2,4741 6,941 110.1711 (3,230> TOTAL FUNDS 196,341 1183,697) 12,644 Comparatives for movamènt in funds Net movement In funds At 31.12.23 At1.1.23 Unrestrictod funds General fund 844,540 51,422 895,962 Restrfcted funds Property Revaluation ReseNe Covid-19 Fund Bdssra Bereavement Fund Redhill Community Food Group CMES Computer Equipment 150,000 2,303 102 5,300 5,554 413 150,000 2,303 102 6,681 5,071 413 1,381 (4831 163,672 898 164,570 TOTAL FUNDS 1,008,212 52,320 1,060,532 -13- continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 265,611 (214,189) 51.422 Reslricted funds Redhill Communrty Food Group CMES 2,921 1,239 {1,54Ctl {1,7221 1,381 {483J 4,160 (3,2621 898 TOTAL FUNDS 269,771 (217.4511 52,320 A current year 12 months and prior year 12 months comblned p081tion 18 a8 follows,. Net movement in funds At 31.12.24 Al 1.1.23 Unrestrfcted funds General fund 844.540 67.298 911,838 Restricted funds Property Revaluation Reserve Covid-19 Fund Bassra Bereavement Fund Redhill Community Food Group CMES Computer Equipment 150,000 2,303 102 5,300 5,554 413 150,000 1,485 102 6,743 2,597 413 (818) 1,443 (2,957) 163,672 (2,332) 161.340 TOTAL FUNDS 1,008,212 64,964 1,073.176 -14- continued...
REDHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- continued A curreni year 12 months and prior year 12 months combined nel movemenl in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 455,011 (387,715) 67,296 Restrlcted funds Covid-19 Fund Redhill Community Food Group CMES 3,182 5,504 2,415 <4,000) (4,061) (5,372) {818) 1,443 12,957) 11,101 113,433) 12,332) TOTAL FUNDS 466,112 1401,148) 64,964 R8slrict8d funds is funding given for sp8¢ific external projects, approv8d by the trusle8S, that are passed on to the specific prolects durlng the course of the ye8r. Revaluation reserve is a restricted fund arSsing on the church's premlses revaluation In 1995. The revaluation reserve represents the surplus of the 1995 valuation over the original costs of the building, 10. RELATED PARf( DISCLOSURES The Custodian Trustee of the Church Is the Baptist Unlon Corporation Llmlted, whlch Is charlty number 249635 and Is controlled by the Baptist Union CounGiI. The Church is also a member of the 8aptist Unlon of Great 8rltsin and the South East Baptisl Assoclation. The Baptist Union was paid £886 12023- £896) as a subscription based on the number of registered members. South E8Stern Baptist Assoc18tlon was donaled £7,350 (2023: £7.350). The home mlsslon fund, a fund that supports churches in the area that do not have sufficient funds, received £7,350 {2023: £7,300). payment of £154 (2023.. £1661 was pald as a subscription based on the number of members register8d with the church. BMS World Mission, a r81ated 8ntr.ty to the Baptist Union of Great Britain, was donated £4,200 (2023.. £4,200). It is an agency that supports personnel working around the world on short. medium and long term mlsslons. In thelr capaclty 8s p8Stor, one elder receives a houslng allowance from th& church under a rent agreement and one has use of a propety as manse. -15-
REDHILL BAPTIST CHURCH DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and legacles Gifts 179,819 254,330 Investment Income Deposit account Interest 1,765 1,041 Charitable activities Rental incorne Other income 14,470 287 13,870 530 14.757 14,400 Totsl Incomlng resour¢oS 196,341 269,771 EXPENDITURE Charitable activities Trustees, salaries and benefits Trustees, pensions paid Trustees, expenses Wages Social securlty P8nsions Dlred charitsble expenditure Church and administration costs Charity ovetheads Depreciation 35,433 2,498 1,524 41,584 981 1,411 26,370 78,466 21,685 4,499 33,853 12 39,152 88,486 13,103 6,601 181,207 214,451 Support costs Management Legal and professional fees 2,490 3,000 Total resources expended 183.697 217,451 Net Income 12,644 52,320 This page does not fonn part of the stalutory financial statements -16-