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← Belvoir Education & Sports Trust Ltd

2025-08-31-accounts

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

Company Number: 6798047 Charity Number: 1131442

BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statemenis For the period ended. 31 August 2025

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Contents|Page| |Trustees’|/|Directors’|report|1-7| |Financial|Review|for|the|year ended|31*t August|2025|8| |Responsibilities|of trustees|9| |Independent|examiner's|report|10| |Income|&|Expenditure|Account|11| |Balance|Sheets|12| |Trustees’|Statement|13| |Notes|to|the|Financial|Statements|14-17| |Income|and|Expenditure|Account|for the|11|months|to|31% August|2024|18|

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; BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Principal Address Belvoir Castle Grantham & Registered Office: United Kingdom NG321PE Company No: 06798047

Company No:

Charity No: 1131442 Trustees / Directors: Martin Reason (Chair) Julie Hopkins (Vice Chair) Nick Turner Katherine Bygott Richard Clowes Jamie Dalrymple (retired 23/1/25) Phil O'Brien (retired 18/3/25) David Paton Alistair Troughton David Epton Rick Clegg Sir Charles Richards Kimberley Davies-Phippen (appointed 23/7/25)

Company Secretary & Trust Director:

Darren Bicknell

Bankers:

Virgin Money First Floor, Lock House Castie Meadow Road Nottingham, NG21AG

independent Examiner:

Margaret Anthony Hardcastle Burton 36 Dene Road, Northwood Middlesex, HA62DA

Solicitors:

Freeth Cartwright LLP Cumberland Court 80 Mount Street Nottingham NG16HH

BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

STRUCTURE, GOVERNANCE & MANAGEMENT

The Belvoir Education and Sports Trust (BEST) is a company limited by guarantee, registered in England and Wales on 21* January 2009 (company number 06798047). It is a registered charity in England and Wales (1131442) whose purpose is to advance the education of children through cricket and the countryside. The Charity is governed by its Memorandum and Articles of Association. The Trustees are also directors of the Company for the purposes of company law.

It should be noted that the charity changed its name from the Belvoir Cricket and Countryside Trust on the 5" February 2025 at a Special General Meeting to Belvoir Education and Sports Trust. This has been adopted subsequently by both the Charity Commission and Companies House.

A panel comprising existing trustees selects any new trustees. Trustees are elected and retire in accordance with the Memorandum and Articles of Association. The trustees hold four formal meetings each year and meet informally to discuss specific topics as required.

Risk Management

The Trustees have assessed the major risks and implemented a risk register to consider risks that the Trust is exposed, in particular - those related to the operations and finances of the Trust and are satisfied that the systems are in place to manage the Trust's exposure to the major risks. Those who are likely to be involved with children are required to pass DBS (Disclosure and Barring Service) checks.

OBJECTIVES AND ACTIVITIES

  1. The Company's name is BELVOIR EDUCATION AND SPORTS TRUST (“the Charity").

  2. The Charity's registered office is to be situated in England and Wales.

  3. The Charity's objects ("the Objects") are:

  4. 3.1. To introduce children to the traditions of the English countryside through sport, especially cricket, and its related activities.

  5. 3.2. To support the development of local children from rural, urban, and disadvantaged backgrounds.

  6. 3.3. To support the development of local able-bodied and disabled children, and those with special educational needs.

  7. 3.4. To work with Local Authorities and especially schools to deliver educational activities to children from local communities.

  8. 3.5. To encourage all family members to be involved in the activities of the Charity.

  9. 3.6. To promote volunteering as a way of serving our communities.

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BELVOIR EDUCATION ANDSPORTS TRUST Report and Financial Statements for the period ended 31 August 2025

ACHIEVEMENTS AND PERFORMANCE

In our sixteenth year we have continued with our core projects - Belvoir Bees, Cricket & Countryside school days, Special Needs in school and days at Beivoir Castie, the Teach Cricket in school coaching programme, and the Volunteers programmes. and we have continued with our recent programmes of Basketball and a summer camp. In the year, a record total of 5388 children attended our programmes.

Belvoir Bees

° 131 children took part.

Giving children, 4-11 years, the opportunity to play sport and learn skills on a regular basis encouraging involvement of adult volunteers in sports activities. involving all members of the family in the activities through social interaction in a rural community.

The Trust continues to offer "Belvoir Bees" sessions at several small rural / town venues (typically a small cricket ground). These sessions provide a taster, not only for children to participate in sport and learn skills but also provide a focused way for local families to meet and become more involved in developing their community. This project is cricket based but encourages participation at all levels of skill. It is NOT a Cricket Club - and there are no team selections. It promotes inclusion and regular 90-minute activity on a weekly basis through the summer months.

During 2025 the Belvoir Bees model! was delivered to 4 rural / small county town communities. Through the introduction and running of the Belvoir Bees the Trust has been instrumental in the regeneration of small, rural and in some cases failing cricket clubs by collaborating with them to develop sustainable junior cricket sections and enabling a pathway for youngsters to access competitive junior cricket:

Our 2025 Venues:

Asfordby Village Hall

Great Dalby Cricket Club

Hose Village Hall. Belvoir Cricket Ciub, Knipton

The Bees continues to be well received with many positive comments including the following.

Here is my quote: Alex's confidence has really grown through Bees Cricket this summer. He enjoyed every session, it’s such a fun activity, and the coaches are always patient and encouraging. It’s been a brilliant experience for him, and he is looking forward to next year! Dasha Jackson

In 2026, our aim is for the Belvoir Bees project to continue at least 4 venues. The sessions will also be used to further encourage volunteer engagement and community integration through the Introduction of friendly competitive cricket across the venues I.e. Bees Tournament.

To continue the development of junior cricket for 11+ the Trust will continue to collaborate closely with local clubs in supporting them until they become self-sufficient in running their own junior cricket. The Trust will also support Belvoir Bees venues in working with the English and Wales Cricket Board (ECB) and nurturing relationships with the regional ECB Boards to develop and grow Cricket.

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BELVOIR EDUCATION ANDSPORTS TRUST Report and Financial Statements for the period ended 31 August 2025

Cricket and Countryside School Days

The Trust aims to help the education of primary-age children (and older children with special needs or disabilities). This is delivered by bringing children to the countryside and offering them multi-activity days which will include cricket, healthy lifestyle choices, countryside pursuits and farming/rural issues.

With the support of Her Grace the Duchess of Rutland and the Belvoir Estate staff and local volunteers - both sport coaches and those involved in the local countryside. The days typically included 2 hours sporting activities/coaching and 3 hours of ‘education’ - learning about the countryside from local people such as the farmer, woodman, angler, gamekeeper, huntsman etc.

In 2026, we will continue to extend the reach of the Trust to include schools from within Leicestershire, Lincolnshire, Nottinghamshire, and Rutland where the school days will be used to promote all the Bees venues. We will also look to partner with other similar organisations that deliver ‘outside’ education. We will also be working closely with the schools to enhance the educational and lifestyle messages that are delivered and where possible look to twin schools from diverse backgrounds (i.e. small rural schools with larger, multi-cultural inner-city schools).

We continue to offer a learning resource for schools which provided a project for teachers prior to their visit and a follow up after their visit. The aim of this is to support our schools and provide longer exposure to countryside learning to all children involved with the BEST, It has been very well received by teachers and children alike and we will review the results with a view to improving it and keeping it relevant year on year.

Thank you for another fantastic day in the summer. Our team had a fantastic day, and the coaches and volunteers grabbed the attention of the students. There were lots of discussions about the day when we returned to school.

David Platt St Nicholas C of E Primary School

Special Needs Programme

The programme gives youngsters with special needs the opportunity to play sport and learn skills on a regular basis supporting Special Needs schools to facilitate and provide active sport for their young people.

The programme also provides Continuous Personal Development (CPD) opportunities for school staff enhancing the school's curriculum delivery.

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BELVOIR EDUCATION ANDSPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

The pupils, and staff, at Birch Wood love having the Belvoir Education & Sport Trust come in to deliver table cricket to our young people. With a wide range of cricketing and physical abilities in our school, Max doesa fantastic iob in tailoring each session to every class we have, ensuring all our young people are engaged and make meaningful progress during time with our young people. For the past two years we have attended the Trust’ Cricket & Countryside Day. It is a day that is accessibie and enjoyable for all. Our young peopie enjoy and look forward to the day. It is a fantastic opportunity that allows our young people to access sport outside school, as well as engage in activities that would otherwise be unavailable to them in other settings. James Collington — Birchwood Special Needs School

Teach Cricket

The 3-week Programme is designed to enhance the school's sports curriculum delivery and after-school clubs. lt provides routes for children to continue with out-of-school sports and provides CPD opportunities for school staff.

Cricket is all-inclusive not only providing physical education but also contributing to the curriculum:

Volunteers

Involving adults in volunteering enables them to actively contribute to their local community giving focused skills training for the specific needs of the Trust projects without being hindered by administration.

Giving volunteers clear responsibility helps coaches without the administrative or responsibility burden associated with helping at a sports club (e.g. can you join the committee).

The Trust delivers training workshops for our cricket volunteers to not only develop their knowledge of cricket but also their communication and teaching skills & techniques.

The Trust ensures that these volunteer hours are spent on direct contact hours with the children and not on administrative tasks. Additional volunteers help with fundraising and administration such as child registration at sessions.

In 2026 we will continue to increase our volunteer network through communication and actively engaging with the parents and local community, whilst continuing to develop lead coaches at each of the venues. We will also assist in developing and nurturing members of the local cricket clubs to enable those clubs to continue in the development of junior cricket.

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BELVOIR EDUCATION ANDSPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

Teach Basketball 2025

Ouicomes:

Enhanced schools' sports curriculum delivery and provided CPO opportunities for school staff and provided exit routes for children to continue with out-of-school sport though the Belvoir Basketball Bees junior coaching programme.

Belvoir Basketball Bees programme 2025

Outcomes:

¢ 80 children took part.

Primary School Curriculum & After School Clubs programme

2025

Outcomes:

Holiday Scheme Camp 2025

Outcomes

In 2025 the Trust continued its Easter and Summer camp.

PUBLIC BENEFIT

The Trustees have had regard to the guidance issued by ithe Charity Commission concerning public benefits. They are satisfied that the information given in various sections of this report demonstrates that the requirements to identify public benefit have been met.

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BELVOIR EDUCATION ANDSPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

PLANS FOR THE FUTURE

The Trust needs to generate income to cover its core administration costs and provide funding for the development of its youth-based projects as set out in this report.

During 2026 the Trust will work towards consolidating and improving the established projects and continue with roll-out of the pilot projects through measured and sustainable growth.

The Trust is also working to develop the facilities at the Knipton Cricket Ground, to provide an indoor base which will enable us to deliver our activities all year round. Currently the build is well beyond wind and watertight. We continue to fundraise to complete phase 1 (the pavilion community centre). Once we complete phase 1, we will continue to fundraise to complete phase 2 the Sports Hall.

Currently the Trust has secured more than £700,000 of the £850,000 required towards the completion of Phase 1. It will take a significant investment to achieve our goal of developing our charity further, but we are determined to look at ways in which we can grow.

Funding

The Trust is actively engaged in the search for Grant awards and private donations, with some funding alreaay in place for 2026.

Trust Chief Executive, Darren Bicknell, will continue with ‘ambassadorial’ work and the fundraising events and activities will be planned strategically to maximise return and engagement with stakeholders - raising the profile of the Trust and ensuring the message is communicated to the ‘larger’ cricketing community.

Events

Events are planned for the year to August 2026 not only to generate funds but also to raise the Trust's profile within the East Midlands business community and the Cricket Community at large. Such events include:

As can be seen from the information given elsewhere in this report, BEST has in place plans to raise substantial additional income to consolidate the 2009-25 growth and expand its future activities.

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BELVOIR EDUCATION ANDSPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

FINANCIAL REVIEW FOR THE YEAR ENDED 31 AUGUST 2025

During the year, the Trust received charitable donations, grants and other income amounting to £426,020 (2024 £434,076). This included £230,000 towards the new building at Knipton.

Expenditure on the new building project was £448,079 (2024 £90,028). The new building is shown in these accounts as a fixed asset under construction. At the end of August, we held £141,501 of cash to be used towards the completion of Phase 1 of the project.

The operating activities (including donations and grants) showed a surplus of £12,069 (2024 £10,417), which further increased the General Reserve to £65,968. It is the aim of the trustees to keep at least 6 months’ expenditure in general reserves as a prudent protection from unforeseen risks. Our fundraising activities are focused on moving us towards this target.

Going Concern Statement

The Trustees have reviewed Trust’s resources and commitments and are satisfied that it has sufficient funds to meet its obligations over the coming financial year.

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BELVOIR EDUCATION ANDSPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

RESPONSIBILITIES OF THE TRUSTEES

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year, which give a true and fair view of the state of the charitable company's affairs and of its income, and expenditure for the financial year. In preparing these accounts the Directors Trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the accounts 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.

The maintenance and integrity of the charity's website is the responsibility of the trustees. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

As far as the trustees are concerned:

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Approved by the trustees on 29th October 2025 and signed on their behalf by:
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a »
Mr Martin Reason ‘
Chairperson
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BELVOIR EDUCATION AND SPORTS TRUST

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Report and Financial Statements for the period ended 31 August 2025

INDEPENDENT EXAMINER’S REPORT

| report on the accounts of the company for the year ended 31% August 2025 which are set out on pages 11 to 18 of this report.

Respective responsibilities of trustees and examiner

The trustees {who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was conducted in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. {t also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as 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:

  1. which gives mereasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or,

  2. which should be drawn to enable a proper understanding of the accounts to be reached.

Margaret Anthony Hardcastle Burton 36 Dene Road Northwood Middlesex HA62DA .

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2025
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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

INCOME & EXPENDITURE ACCOUNT

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||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |.|Restricted| |Note|Unrestricted|Fund (New|Total|Total| |Funds|—_ Development)| |Income|and endowments|from:|£|£|£|£| |Donations|and|Grants|2|133,193|230,000|363,193|378,663| |Charitable|activities|3a|36,629|36,629|27,657| |Fundraising|events|4a|24,335|24,335|24,798| |Other|income:| |Bank|interest|863|863|1,958| |Rent|received|8|1,000|1,000|1,000| |Total|Income|196,020|230,000|426,020|434,076| |Expenditure|on:| |Charitable|activities|Direct costs|3(@)|105,168|105,168|107,415| |Support|costs|3(b)|34,233|6,330|40,563|26,762| |Raising|funds:|Fundraising|events|4(@)|11,527|11,527|10,815| |Fundraising|expenses|4(b)|32,023|32,023|27,472| |New|Development|441,749|441,749|90,028| |Rent|Paid|8|1,000|1,000|1,000| |Total expenditure|183,951|448,079|632,030|263,492| |Net|income/expenditure|12,069|(218,079)|(206,070)|170,534| |Total funds|brought|forward|53,899|359,580|413,479|413,479| |Total|funds carried|forward|65,968|141,501|207,469|413,479|

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The statement of financial activities includes all gains and losses recognised in the period. All incoming resources and resources expended come from continuing activities.

The notes on pages 13 to 18, form an integral part of these financial statements.

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

BALANCE SHEETS

31 August 2025 31 August2024
£ £
UNRESTRICTED FUNDS
CurrentAssets
Debtorsandprepayments 6,160 5,591
Cash at bank 59,861 56,848
Total 66,021 62,439
Current Liabilities
Creditors: amounts fallingduewithin 1 year (4,102) (6,259)
NetAssets 61,919 56,180
RESTRICTED FUND
Fixed Assets (building underconstruction) atcost 441,749 0
Cash atBank 145,550 357,299
NetAssets 587,299 357,299
CONSOLIDATED FUNDS
Fixed Assets (building under construction) atcost 441,749 0
Current assets
Debtorsandprepayments 6,160 5,591
Cash atbank and in hand 59,861 56,848
New Development Fund 145,550 357,299
211,571 419,738
Liabilities
Creditors: amounts falling duewithin 1 year (4,102) (6,259)
Netassets 649,218 413,479
Thefunds ofthecharity
Restricted Fund -Newdevelopment 583,250 359,580
Unrestricted income funds 65,968 53,899
649,218 413,479

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BELVOIR EDUCATION AND SPORTS TRUST

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Report and Financial Statements for the period ended 31 August 2025

TRUSTEES’ STATEMENT

The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of Section 477, and that no member or members have requested an audit pursuant to Section 476 of the Act.

The trustees acknowledge their responsibility for:

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These financial statements were approved by the trustees and authorised for issue on 29" October
2025 and are signed on their behalf by:
W, | |
Martin Reason Chairpefson~
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Company Registration Number: 06798047

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

1. Accounting policies

a) Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts In accordance with the Financial Reporting and Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Charities Act 2011 and the Companies Act.

The company constitutes a public benefit entity as defined by FRS 102.

Having assessed the company's financial position and plans for the near future, the Trustees are satisfied that it remains appropriate to prepare the financial statements on a going concern basis.

b) Incoming resources

Grants and donations are recognised on a receipt’s basis.

c) Resources expended.

Expenditure is recognised on an accrual basis.

The costs of the Trust Director and the staff are apportioned between activities based on estimated time spent on those activities. Details are shown in note 6.

d) Fixed Assets

The Fixed Assets of the trust are a new building under construction and are shown at cost value. At this early stage in their life, it is not appropriate to provide for depreciation.

e) Funds

Unrestricted funds are those which can be used in accordance with the charitable objects of the Trust at the discretion of the Trustees.

Restricted funds are those which are raised and spent on the new development.

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

2. Donations and grants 2025 2024
Unrestricted Funds £ iE
Grants 107,384 114,134
Donations 22,491 11,582
GiftAid recoverable 3,318 2,752
Total unrestricted funds 133,193 128 468
Restricted Funds - Newdevelopment 230,000 250,195
3. Charitable activities
(a) Direct costs Income Expenditure Net2025 Net2024
£ £ £ £
Belvoir Bees 5,061 23,000 (17,939) (17,999)
Cricketand Countryside Days 9,575 27,463 (17,888) (20,525)
Teach Cricket 946 18,950 (18,004) (15,939)
Special Needs 5,920 27,119 (21,199) (23,197)
Basketball 3,300 2,359 941 (115)
Summer Camp 9,085 156 8,929 6,594
Cricket Bat Willow 2,742 0 2,742 0
Volunteers 6,121 (6,121) (8,577)
36,629 105,168 (68,539) (79,758)

Some donors ask that we use their gifts to support specific activities. These wishes are reflected in the table above. At the end of the financial year, should a particular activity show a surplus, it is the Trustees’ Policy to redesignate it for general use in the Charity.

(b) Support Costs 2025 2024
£ £
Fees 13,761 9,763
Insurance 1,958 1,661
Rent 1,972 2,472
Marketing and promotion 9,925 8,750
Officeand otherexpenses 2,227 3,084
Independent examination 1,030 1,032
Subscriptions 3,360
34,233 26,762

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

  1. Raising funds
(a) Fundraising events 2025 2024
income Expenditure Net Net
£ £ £ £
Golf
Lotteries		 3,918
467		 2,136
0		 1,782
467		 (2,001)
488
Fundraising Dinner 19,950 9,391 10,559 12,996
Charity Shoot fe) 0 0 2,500
24,335 11,527 12,808 13,983

(b) Fundraising expenses

Fundraising expenses 2025 2024
£ £
Fees 22,493 17,282
Travel etc. 7,798 7,324
Website 0 1,624
Annual review 858 777
Otherexpenses 874 465
32,023 27,472

5. Staff costs

Salaries and employment costs were paid to three employees (2024 - three) during the period and were allocated as follows:

2025 2024
£ £
Belvoir Bees 22,494 22,459
Cricket and Countryside Days 26,215 26,664
Special Needs 27,069 27,841
Teach Cricket 18,950 18.956
Basketball 2,359 2,142
Marketing and promotion 5,872 6,098
Support Costs 8,617 8,480
Volunteers 3,656 3,863
Fundraising 6,514 6,776
New Development 6,330 6,689
127,876 129,969

Pension Contributions of £2,761 (2024 £2,277) were paid on behalf of the employees during the year.

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BELVOIR EDUCATION AND SPORTS TRUST

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Report and Financial Statements for the period ended 31 August 2025

6. Related party transactions and trustees

A number of trustees make donations to the trust either through Gift Aid or support for specific fundraising activities.

  1. Share Capital

Belvoir Education and Sports Trust is a company limited by guarantee and consequently does not have any share capital.

8. Lease commitment

During 2019, the Trust entered a 50-year lease with the Belvoir Estate at £1,000 ner annum for the use of a cricket ground replacing the previous 35-year lease. The Belvoir Cricket Club has, under another lease, agreed to refund these amounts to the Trust.

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BELVOIR EDUCATION AND SPORTS TRUST

Report and Financial Statements for the period ended 31 August 2025

Income and expenditure account

for the period ended 31 August 2025

Unrestricted
Funds		 Unrestricted
Funds		 Restricted Fund
(Newdevelopment)		 Restricted Fund
(Newdevelopment)		 Total
£ £ £
Income and endowments from:
Donations and grants 128,468 250,195 378,663
Charitable activities 27,657 27,657
Fundraising events 24,798 24,798
Bank interest 1,958 1,958
Rent received 4,000 4,000
Totalincome 183,881 250,195 434,076
Expenditure on:
Fundraising events 10,815 10,815
Fundraising expenses 27,472 27,472
Direct costs 107,415 107,415
Support costs 26, 762 26,762
New development 90,028 90,028
Rent paid 1,000 4,000
Totalexpenditure 173,464 90,028 263,492
Net income / (expenditure) 10,417 160,167 170,584
Reconciiiation of funds:
Total funds brought forward 43,482 199,413 242,895
Totalfundscarriedforward 53,899 359,580 413,479

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