Frontline Debt Advice FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 CHARITY REGISTRATION No: 1134908 COMPANY REGISTRATION No: 7136786 Sheen Stickland Chartered Accountants The Englne House 77 Station Road Petersf ield Hampshire GU9 8SQ FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) CONTENTS Pages 2 to 6 Report of the Trustees. Page 7 Statement of Financlal Activitles. Page 8 Balance Sheet. Pages 9 to 12 Notes to the Financial Statements. Page 13 Independent Cxaminer's Report on the Accounts. FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 LEGAL ANL> ADMINISTRATIVE INFORMATION CHARITY NUMBER 1134908 COMPANY REGISTRATION NUMBER 7136786 {En¢Jland & Wales} START QF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 WORKING NAME Frontline FINANCIAL CONDUCT AUTHORITY REG. NUMBER 694921 DIRECTORS Mr Nell Ellls Mr Arnold Bissett Mrs Michelle Fisher Mr William Kenn&dy Mr Robert Nuzeen (resigned 16110123} Ms Ellzabeth Nelson Mr Brlan Pollard Chalrman Ireslgned 07102124) COMPANY SECRETARY Mr William Kennedy OTHER OFFICIALS Mr Dominlc Williams (CEO) Mr Noel Fairbairn (Treasurer) Mr Robert Pope (Admlnlstrator) Mr Wes Wrlght (Tralnlng Manager) REGISTERED ADDRESS Haslemere Locality Offlce Lion Green Haslemere SuriEy GU27 ILD DATE OF INCORPORATION 26th January 2010 GOVERNING DOCUMENT Memorandum and Arlicles of Association BANKERS Lloyds TSB Bank plc 22 St Thomas Square Town Centre Newport Isle of Wight P030 LSQ INDEPENDENT EXAMINER Mr navid £anders BA (Flonsl FCA BFP Sheen Slickldiid Chartered Accounrènts The Engine House 71 Station Road Petersfield Flampshire GU32 3FQ FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE} REPORT OF THE TRUSTEES (continued} FOR THE YEAR ENDING 31" MARCH 2024 rho trustees who are also directors ol the chaiity for the purposes of the Companies Act 2006. present their report with the financial staiements of the charity for tlie year ende(5 31st March 2024. The Irustees have adopted the provisions of AccountinK and Reporling by Charities.. Statement of Recommended Practice applicable to charities prep8ring their accounts in accoidance with the Financial Reporting Standard applicable In the UK and Repvbllc of Ireland IFRS 1021 STRUCTURE, GOVERNANCE AND MANAGEMENT Frontline Debt Advice IUKI bcgan as a new charity on 1st April 2010. It was born out ol an earlier charity. now known as Frontline Advice Cenrre. Ir Is constituted ès a charltable company, limlted by 8uarantee through Ils governlng document, Memorandum and Articles ol A5soclatlon, dated 26th january 2010. The day-lo-day running of the charity is the responslbllity of the Chief Executive. Trustees, meetings take place at least three times per year to ensure that all goverThaneè aspects are In order. All governance policlès (Vulnerable Adults, Hèalth and Safety, Data Protection and Equal Opportunities) 3re reviewed regularly. The TfUStees' meetings also review the Operational aspects, includin8 the chaiily finances, lo ensure that the chariiy is performing to the best of its ability Since January 2019 Dominic Williams has been CEQ. Mandy Hawke who Is one olour Branch Managers, has taken over as Ihe maln Safeguardin& Officer. Oomlnic Williams Is a second3ry SaleKuardlnR Officer. The Execullve Management team IEMTI comprises Neil Ellis Ichairmanll. Brian Pollard IDirecturl, Dominlc Williams ICEOI and We5 Wright (Trainlng Manager). They are supported by Rob Pope (Admlnislratorl. EMT meet bi-monthly to address operational issues, Others wirh particular skills or Interests are Snviled lo EMT rneelings lo address particular Is$ue$. Each new branch is allocated a supervisor who to begin with will visit often or be In regular remote contact to provide support. As the branch matures the 5upervlsor will vis11 less oltcn but will maintain a close working relationship with the Branch Manager and will lullil the compliance functions on bohalf of thc charity. Recrullment, appointmeni, inducrion and Iralning ol new trustees.. new Irusteeswith Jn interest in the charity's activities can be appolnted on recommendation by existing tfUSiee5. They are provlded with Information on ihe charity's field ol work and a150 011 tlie role ol a trvstèe under charity law. BRANCH NETWORK Frontline allows Its blanches a great deal ol autoiiorTiY in ihe Wdy Iliey vperJle in response lo the local demands and the operaliuriJl capability ol the voluriieers. Edcli brariLli is able to decide il it wislies to be a'member" Iliilly integiated within the Frontline cliarityl or a 'Partner" Iwhere a 5cpoiale local Iliarity identiry and respon5ibilily lur finances is retained but partnering with Fruntlinel. At the start ol the financial year, we had 14 branches ol which 6 were'Partners' i.e., Bridge Advice Centre IHaylin8 Island), Camberley Frontline (St Paul'5 Church Cenrrel, Farnham Money Advice (Vineyard Centrel, 3 Countie5 Money Advice IHaslemerel, Sèlspy Money Support, Frontline Pètersfield. A new partner branch started in Novernbei 2023. Frontline Crookhorn. The 7 me.mbpr branches in operation throughour the financial year were in Andover, Pau15gruve IPurtsi¥ioutlil, Reading, Petworlh (Liaisel, Swaythling Isoulhamptonl, Thornhill Isouthamptonl, Chapel En Le Frith. The Winchester branch closed in October 2023 35 the Branch Manager and all bui L volunteer retired. The remaining volunteer tried to lind addition31 volunteers but w35 unsuccessful, so the branch was closed. Some branches1i3ve sub-branche5 al other nearby locations where they can see Ilients The total nuniber of branclies at Ihe end of the linoncial year wa5 14. FRONTLINE DEBT ADVICE (UK (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES {continued) FOR THE YEAR ENDING 31" MARCH 2024 FINANCIAL REVIEW The chaiity's turiiuver is modest, arid il vwns nv material assets, other than computers. which are usually fully depreciated in the year ol purchase or expensed il a replacenienl. Frontline had no direct employees during 2023 willi tliE CEO diid others paid for some of their service5 as consultants. Froin 15l January 2024 the CEO and Training Manager becanie employees. Funding comes from a number of source5. Our base income is from branch membership fees. Other 50urce5 include donations from churche5 a55ociated with the Frontline branches. donalir)ns from individuals, fundraising events. and grant5 when they can be obtained. There afe unrestricted reserves of £79,050. Truslees ensure reserves are sufficient lo meet current and future ommirments for at least 12 months from approval ol these financial starements. On an operalional basis the charity aims lo break even each year. rhe Trustees also consider it prudent to establish a Policy iequiring a minimum reserve of ES.000 which is included In the unresrricred reserves noted above. PUBLIC BENEFIT sfATEMENT I'he charity Irustees have ensured thar the Charlly has fully complied with its ob1ieaiion 10 provide publlc benefit In carrylng out Its functions In respect ol provlding free advice and asslstance in the field ol debt counselling and associared matters In order to relleve poverty and Iiardshlp across a broad cross secrlon of the public Iirespecllve of Race, Gender. Disabilify, Sexuality, Age, Reli8ion, Beliefs and Back8round. In shaplng their obleciives lor rhe year and plannlng rhelr are common iause of deficit budEets than previously. We will do our besl to help such households lo lind ways of halancing their budget5, and a5 we do with all our debt clients. we will negotiate affordable arrangement5 Wlth their dLbts and whe.re necessary (7551st with DRO and bankruptcy applications. We also continue to help clients obtain Iheir FRONTLINE DEBT ADVICE {UK) (A COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES Icontlnued) FOR THE YEAR ENDING 31st MARCH 2024 ¢ntlilemoTht to dlslblllly beneflis and navl8ate thelr transfer Iiom l¢gaty benefhstts ￿n￿er$al Crpdit. I"he Universal Credit Jar. Bul Managed ml8ratloi prolrammg has ¥atheTed pace this lasi year with thos¢ on crEdits onty belng iranslefred so, thls next y¢ar wS115ee thosè on Income Support, Housinu 8enefit Ind Income BasRd JobseEkers ollowance be tran5fcrred. Our CEO Qomlnic Willlims corbtliiue5 to bulld an the strong foundatlon rhai h15 Pfedecessor ¢5tablishÈd, addln8 to th1$ a p•gslon tu use the wlde experl¥nce aalned In helplng thost In Ilndnclal dlffl¢ullles lo brln8 about a posltlvecliar5Ke at lo¢al ind national level by iespondSng lo Govcrnnient con5ultt Ind dedl¢a(luii uf ourvolynt•*TS, tD whorn we are contlnually 8rateful, STATEMENT OF TRUSTEES, RESPONSIBILITIES Company IDW requlre3 Llw trusteis10 prepare financlal statements tor each tinHqcl81 ¥ear ivhlth Bives a tru¥ #r￿ falf vl•w of the stat* of #ffalrs of the cornpany and of tho profit or lols of the cuinpany ￿￿kn￿ that perlod, In preparlft8 th05P 11118nclal gtatements thelrust¢¢5 81e requlred to,. select 5Ultable 8ccountlng rKJlkies 8nd then ippl¥ thern ¢onslstentlv m¥ke lud8oments and ¥sllmatcs thai are fe45onabl¢ #nd prud*nt piepare flnanclal stat'ements on a KoliiK con¢ern bdsls Lll)less It Is Inappiopfiate to pr¢>uMe rhal iho company wlll ontlnue In bu$Ine￿, slat• Vthether?pp15r*>1￿ a¢¢ounlln8 siandards and Sta￿￿e¢ll3 of recommended prJcliri have beAn folhjwed, sublert to any mateTlal depaiiure5 dl%r.105ed and eXplaInL￿ In tlie flnon(iJl slalemeftts. The Trustees are alsg responsibl¢ tor mdSntalnln8 adequaie accauntln6 records whlch disclose wlth reasonable &cf.uracy at ny tlme the flnan¢lal posltlL)ri of Ihe ihdrily and whlih thre suff ¢lent to &liow ord explaln ilie charlV5 transa£tlon5 and •.nable thom to ensure Ihat tho ￿n?￿l81 statcmtrnts comply wlth tne CompanI￿SALI 2006 and romply wlih re8ulat ons madu underihe Charitles Act. Th•y are alsu rcsponslblt lor 54foguardln% the 4$5cIs olthé ¢h8rfty ¥nd hence lor taklnK rgasonable rteps lur ihe prevÉnWo￿al1d detectlon ol Iraud and other Irreqularllles The Tru5t*tts areilso reth*pDnslble lor the content5 of the Iruslee5' roport, ¥nd thè re5pon5ibilkly ol the Inde.pendenl examlDerln reldlipn to the tTlJ$tees' ropcrt is liniited to examlnlThB the roport and &n5urlng thai on rhTr face ul Ilie repo there ore no Incons15tencies wlth the14ures dlsr.losed In the flr.anclal slatenioni5. Tliese gccount5 have been prepared In occord•nce wlih the provislons applScable lo compariles subject to the sinill mp8nlES' f*Blme. I he Trusiees Jpprovo the altached statetnènt of financlal actlvltles and b4lan:e5heel foi ili¥ year ended 3ts1 March Z024 and ¢onllm tlidl they have made av4111ablft all information nc¢c4SUry lor its prf paration. Signed on beha51 of the Trusteos Date'.Ig TrK)6JJ S I 2024 Mr Neil Eltss Tru#ee FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024 Incorporating income. and expenditure account 2023/24 Unrestricted TOTAL Funds 2022123 Unrestricted TOTAL Funds Notes INCOME Income and endowments DonatSons & legacies 2a 47,969 47,969 45,116 45,116 Charit4ble activities 2d 120 120 5,625 5,625 Other trading aclivities 2b 940 940 3,646 3,646 Income from Investment 2c 797 797 66 66 TOTAL INCOME EXPENSES Expenditure on: Charitable activities 50,210 50,210 50,853 50,853 TOTAL EXPENSES 50,853 NET INCOMING/ (OUTGOING) (384) (384) 3,600 3,600 TOTAL FUNDS BROUGHT FORWARD 79,434 79,434 75,834 75,834 TOTAL FUNDS CARRIED FORWARD 79,050 79,434 79,434 The notes on pages 9 to 12 form part of these financial statements. PRONTLINE DEBT ADVICÉ (UK) {A COMPANY LIMrrED BY GUARANTEE) BALANCE SklEET AS AT 31st MARCH 2024 31st March 2014 Unre5trlcled Total Funds 315t March 2023 unregtrlcted Total Funds ASSETS AND LIABILITIES Ntst• Flx4d Assets Tan9lble asseis Current Assets D¢brws 1,782 1,182 569 569 Cish at b8nk and In hand 79,2Ql 79,20L 80,425 80,425 Total Curr¢ht Ass•t• Credltorn: amounts fallin9 due wlthln one year LO 1,933 1,933 1,56D I,SGO NET CURRÉNT ASSETS 79,050 79,050 79,434 TOTAL ASSETS less current114bllltSes 79,0S0 79,434 Cr•dltors: bmounl$ falllng due In more thèn onc year NET ASSETS FUNDS OP THE CHARITY Unre5Lrlrted Funtls 79,050 79,050 79,434 79,434 TOTAL FUNDS 79 The charItA￿e compdrny Is entltlod iu ¥xemptlon from audll, und¢r SÈCtlon 41.1 nl Ihc Companle¥ Act 200fi fi)r tho yéar •nded 31st M4r¢h 2Ql4. The merpber5 have not requlred tbt company to cbtrjln an •udit OS lis flnanfjol ￿￿titeMents fo,. the year ncod 31st March 2024 In o¢cordJrice wlth Se¢.tlon 476 of the Lompanles Act 2rn6, The Irusteor• a¢knowledge thelr re4ptsnslbllltlis lor ensuflnu Ihat thi charitable company keep5 occountliiu records th?1 coThply wilh S8Ction5 386 and 387 of the Compan1*5 Act 2006 and preporing fkniithcièl sLatenients %Yhich glv¢ è true an(1 falr vlew of Ihe slAle of ofluirJ of the ehaillablp company ths at th¢ end of eich flnanclal ycar and of Its SUr￿u5 or deflclt •ath flnanclal year In accord&n¢c with the rc4ulrements of Sfycti¢r.s 394 an(i 395 aiir, whlch othèrwlse comply with the reoulrements of the fompanltts Act 2006 relating tu hTr&nLlal slat¢rn¢nt.s, so far as applicable to the chdritable company. These financlal sLlJtemenU* have been pr*parÈd in acry>rdui)ce the prov1yl0n￿ )ppllLSbble to charltat>le companles gJbJect to small companlos reglmp.. Tho InaThclol slatempnts w&rÈ approved by rhe Board of I'ru5tg95 on l%'.,...PQ,(¥.11.*.i...AL kit.. erid were s1oThed on Its bohalf bv.. Ib) Mr Nell Ellls Trusree Thè notès on pages 9 to 12 form part of these fin4inclal stalinenls, FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 1. ACCOUNTING POLICIES Basis of preparation: Tho financial statements of the charitablè company, whlch Is a public benefit enlily under FRS 102, have been prepared in accordancè with the Charities SORP (FR8 1021 ' Accounting and Réporting by Charilies: Statement of R8commended Practice. applicable io charilies preparing their accounts in accordance with the Flnancial Reporting Standard appllcable in the UK and Rapublic of Ireland (FRS 102) and the Companies A¢t 2006.The financial slalements have been prepared under tha historical cost convention. The Iruslees consider the charity is a golng conc8m as it has sufflcient cash resources lo meet its overhead and other commitments for at least 12 months from the 8igning of these financial slatemants. Flnanclal Reportlng Standard 102 - reduced dlsclosure exemptlons The charitable company has taken advantage of the followlng disclosure exemptions in preparing th8se financial slalemanls. as permltled by FRS 102 'Th6 Financial Reporting Standard appllcable in the UK and Republic of Ireland,. the requirament of Section 7 Statement of Cash Flows. Taxatlon The charity is exempt Irom corporation lax on ils charltable acllvlties, Fund accountlng All the charlty's funds are unrestrlcted, Unrestrlcted funds can be used In accordance wlth the charltable objectlves at the dlscretlon of the trustees. Incomlng Resources Recognltlon of Incomlng Resources These are Included In the Statement of Flnancial Actlvitles (SOFA) when: the charlty becomes entitled to the resources; the directors are virtually certaln they wlll receive the resources; and the monetary value can be measured with sufflclent relSability. Tax reclalms on Donatlons and Glfts Incoming resources from tax reclalms are Included In the SOFA In the same financial period as the glft to which they relate. Donated Servlces and Facllltles These aro only included in incomlng rosources {wilh an equivalent amount in resources expended) where Iha ben&fil lo the charity is reasonably quantifiable, measurable and malerial.The value placed on thes8 resources is the eslimaled value to the charity of the service or lacilily received. Volunteer Help The value of any voluntary help recelved Is not included In the accounts but is described In the Dlrectors, annual report. Expenditure Governance Costs Include cosls of thè preparation and examination of statutory accounts, the costs of Direclors, meetings and cosl of any legal advice lo direclors on governance or conslilulional mallers. Grants payable These are only recognised in the accounts when a commitmenl has been made and there are no conditions to be mel relaling lo a grant which remain in conlrol ol the charity. FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31st MARCH 2024 I. ACCOUNTING POLICIES (Contlnued) Assets Tangible Ilxed assets for use by the charlty These are capitali5ed if they can be used for more than one year, and cost at least E750. They are valued at cost or, If glfted, at the value to the charlty on recelpl. Depreciation is calculated al a rate to wrlte off the c05t of tangible fixed assets on a Reduclng Balance over thelr estlmated useful lives. The rates applied per annum are as Fixtures and Fittlngs Computer Eqvipineiit 250/0 Liabllities Llablllty recognltlon LlabllSties are recognised as soon 8$ the.re Is a legal or constructive obllg8lion committing the charlty to pay out resources. 2. INCOME 2023124 Branches TOTAL 2022123 Branches TOTAL HO HO a) Donatlons & legacles Donations - Individuals Donatlons - churches Gift Aid Membershlp Fees 4,866 3,000 996 22,380 6,906 8,681 1,140 11,772 3,281 IL,681 462 2,136 15?. 22,380 23,9LO 9,470 6,741 I,ioo 12,751 7,203 1,252 23,910 31,242 16,727 47,969 27805 17,311 45116 b) Other tradlng actlvltles Fijndraising Trusts & Company Donations iii 349 480 460 480 166 3,000 480 646 3,000 iii 829 940 3,166 480 c) Interest Receivable Bank Interest 760 37 797 56 io 66 d) Income from Charitable Actlvities Graiits other Income Training Income 4,770 4,770 215 640 120 120 640 120 120 640 4,985 5,625 Total Income 32,233 17,593 49,826 31,667 22,786 54,453 10 FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31st MARCH 2024 3. EXPENSES 2023/24 Branches TOTAL 2022123 Branches TOTAL HO HO Advertising, publiclty & promo. Advisor DBS/CRB checks Client poverty grants Computer & IT upkeep General expenses Independent Exdmination fee Insurances Membership fees Postage Premlses hbre Prlnli ng & toner costs Professional subscriptions Staff costs Staff costs - trainlng Stationery & office equlpment Telephone & broadband Tralning materials & books Travel expenses 361 361 247 90 2,790 183 1,140 2,195 9,060 661 3,600 640 290 18,211 6,600 221 1,773 922 1,226 ioi 266 90 191 266 724 2,927 307 1,080 1,793 11,160 477 3,355 494 336 15,779 6,600 124 1,744 1,938 1,558 247 90 2,147 170 724 2,417 217 643 13 1,140 2,195 510 90 1,080 1,793 9,060 661 3,600 590 11,160 459 3,355 398 18 50 290 17,131 6,600 96 336 15,779 6,600 1,080 221 1,773 751 124 1,744 1,324 171 1,223 614 1,558 29 703 20 507 50 210 28 841 22 012 4. DIRECTORS AND OTHER RELATED PARTIES 2024 2023 Number of Directors who were pald expenses Total amount pald £0 Éo No other payments were made to dlrectors or any persons connected wlth them durlng this financial period. No materlèl transacllon took place between the organisation and a trustee or any person connected to them. 5. STAFF COSTS 2024 2023 The average number of staff employed. Wages and salaries Employer's NIC Employer's pension contributions 4,950 122 other staff costs in the accounts related to payments made to consultants. 6. TANGIBLE FIXED ASSETS 2024 2023 There were no tangible fixed assets. FRONTLINE DEBT ADVICE (UK) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31st MARCH 2024 7. DEBTORS AND PREPAYMENTS 2024 2023 Recoverable gift aid Prepayments 968 814 150 419 569 8. CASH AT BANK AND IN HAND 2024 2023 Current Account Deposit Accounls Cash wilhin Network 4,804 30,970 43,427 3,610 30,475 46,340 Note 9 79,201 80,425 9. BRANCH NETWORK Duririg 2023124 all nieinber branches of Frontline Debt Advlce (UK) were consolidated as shown below'.- Funds Incomlng Resources Funds 31-Mar-23 Resources Expended 31-Mar-24 Andover Chapel-en-le- Frith Paulsgrove Pelworth (Liaise) Reading Swathllng Thornhill 4,942 2,705 2,000 2,208 2,283 5,885 2,434 77 2,635 2,105 1,511 3,022 5,847 2,847 2, 538 5,012 1,547 7,071 4,074 12.,331 9,793 3,599 6,374 4,813 12,293 10,206 6,060 Branches who do not operate a bank account and do nol have their own funds arc excluded From table. 10. CREDITORS AND ACCRUALS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Independent Examiners Fees Accrued expenses 1,08a 853 1,020 540 11. MOVEMENT IN FUNDS Fullds 31-Mar-23 Iiicome Funds 31-Mar-24 EKpciidilure General Funds 79,434 49,826 50,210 79,050 Comparatives lor rnovemenl in funds Funds 31-Mar-22 Income Funds 31-Mar-23 Expenditure General FiJnd5 75,834 50.853 79,434 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Indopendent examiner's report to the trusteès of Frontllne Debt Advlce IUKI I'the Company'l. I report lo Ihe charity trustees on my examination of th8 accounts of the Company for the year ended 31 st March 2024 Responslbilltles and basis of report As the charity'8 trustees of the Company (and also directors for tho purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Cornpanies Act 2006 {'Ihe 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for Independent Examination, I repori in respect of my examination of your charily's accounts as carried out under Section 145 01 the Chalrilies Act 2011 (' the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commisslon under Section 145151 (bl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm no matters have come lo my attention in connection wilh the examinalion giving me cause lo believe.. 1 accounting records were not kept in respecl of the Company as required by seclion 386 of the 2006 Act., or the accounts do not accord with those records., or 2 the accounts do not accord with those rtecords. or 3 the accounts do not cornply with the accounting reqLJiremenl8 of 8eclion 396 of the 2006 Act other Ihan requirement that Ihc accounts give a true and fair view which is not a maller considered as part of an independent examination. or 4 the accounts have nol been prepared in accordance with Ihe methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charilies lapplicable to charilies preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 102)). I have no Concerns and have Gome across no other malters in connection with the examination lo which attention should be drawn in Ihis report in order lo enable a propor undcrslanding of Ihe accounts lo be reached. Nr David Sanders BA (Hons) FCA BFP Sheen Stickland Chartered Accountants The Engine House 77 Station Road Petersfield Hampshire GU32 3FQ (14 JfyI,,,I, Ifjly 13