RECISTERED COMPANV NUMBER: O7116n4 (Englifvd and Wales) RECISTEREDCHARITY NUMBER: IIJS483 REPORTOF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED31 JULY21ll3 FOR NORTHLEIGH HOUSE SCHOOL LTD Harrison B¢ & (hw) Limiitd HighdoNTrn House I l Highdown Road Sydenharn L¢amingion Spa Warwi¢k5hire CV31 IXT NMI *A(FTFrAw" 0711112023 COMPANIES oUsE A11
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NORTHLEIGH HOUSE SCHOOL LTD CONTENTS OFTHE FIP4ANCIAL STATEMEP4TS foT tht yeAr ¢nd¢d 31 July 2023 Pagt Report of ihe Trwiees Statemewt of Trute$. Rwnsibili¢ie5 Report of th¢ IJMieprnd¢nt Auditors Stxt¢rn¢nt fyf wi¢11 Adivits¢s B#irt¢e Sht¢t 12 to 13 C•sth Fk)w S¢at¢m¢tyi 14 Notes io tht Csh Fb)w Sts¢¢th¢n¢ 15 Notes lo ¢h¢ FimaNEial Ststtmtnts 16 10 25 Detailed StaterneTht of Fin•D¢il Atlivit*s 26 10 27
NORTHLEIGH HOUSE SCHOOL LTD
REPORT OF THE TRUSTEES
for tht year ended 31 Juty 2023
The ajso diwciors of charity for the wrp)ses of the Comrmnies Act 21. preseni Iheir rewrt with the
financial stsiements of ihe ¢h¥ity foi the yr ended 31 July 2023_ The trustee5 have thpled the PTOViSiODS of Accounting
and Reporting by Charilies.. Staiemeni of Recommen{ Pwtice alILable charitie5 prry>aring their a¢Unts in
accordanc¢ with the Finw¢ia] Reponiog StaTrJard aFWt¢able in the UK 8j Rcwblic of Ireland IFRS 102) {effeclive I
jUary 2019}.
OWECTIVES AND ACTIVITIES
Objective5 8nd
Northleigh House School is a Sm1 hL)I with charitsble staius whith r*crs for childrcn for whom mainsiream schooling
has proved dityiculi or impossible. aim is lo providc them with a Safe plact to rcgairt Ictst self
NORTHLEIGH HOUSE SCHOOL LTD REPORTOFTHE TRUSTE&S for the year ended 31 July 202J OWECTIVES AND AcfiviTIES nifteant activities The school passed its l(hh anniversary in 2022 aTrJ in those Yea arbj in 2023 mott than l(X) young wple have rnoved on into higher edutIOn or employment this year h&% seen conlinued hcalthy progress in the c)las rnOTt stud¢nt5 have successfully moved on. In the year undcr review the sch[ has opcrdted Same level as l&st ytar wilh 34 pupils. In ihe annual exams 27 sivdenis sat 4 variety of pa5 * dilT¢rtnt levels IGCSEJFuD¢t)nai Skillsl 9 Sat 21 GCSES with only 3 papers mark¢d below a gr 4. Th¢ avera8e GCSE 8r&le was 5, with 9 of the F4sse$ 8rd 416 or 8. 1 student sal an AS level with a pass mark ot-B. In addition. 21 dents 5&t a range of qualificalions irKludinE Functional Skills in En81i5h, mh$ and ICT, Technical PtTfoThning Arts and Animal Care tthJTses. Tk5e qudifJLzriorb5 are offered by Pew%)n. OCR. Asdan or CambTidge Technical exam knards with just 3 fails from 81 parKrs taken. We have 9 leaver5 this year wly) are going on new thallengcs with six Sbjdcnts going WdriOU5 coljeges io srudy a rdnge of subjects and 3 stu(knts slarting in thE world of wrt. The 5ch(w)I wefvlly assseS cxh stuthnt beforr ertering in ¢x8ms depending on their ability and tempuam¢nL As well as Providing a¢ademi¢ teaching the xhool conlinues io provide very importsnt exifacurri¢ular activilies alm al broadening the Siudenls. experience helping io their s¢lf•confiderK< while a(kling LO ih¢ir ¢d10n81 leamin& I udent atttrtded ihe RSC AslaTl S¢hty)l Young Leaders workshop aTrJ enjoyed a Iheatre tour. 4 pupils allended a s¢agin8 of Ihe Mousetrap at Ihe Bel8rade Traire. There were rthio8raphy and arts iriP5 10 The V& A museum, Compton Verney and the Pump Rfy)m$ ai LeaMInOrt Sp& Life skills are the subjea of SUmarket shopping irips. weekly work experience ai a local Naiicnal TnL%t prorAy and trhps io Hanon coun World well &$ a11-schl trips to a IOLZI wat All these activities art carefully suptryised by OUT 4&ff. All these wpils joined the hTh)l * a lime in their lives when tOSTeSS would have txtn hard th predict aThl many pupils keep in t0h and are Iloing wcll on ih¢iT ¢hos¢n life p&h. Sadly, OUT lovely thcrdpy dog Bcnji passtyj away this year the wpils pDvid¢d some twching tribu*5 10 the part he had played in their school life. Pag¢ 2
NORTHLEIGH HOUSE SCHOOL LTD RKPORTOFTHE TRUSTEES for the year ended 31 July 2023 0ECTIvEs AND ACTIVITIES Publie bentfil W¢ are committed to the continueAI rKoftssional developmcnt of (Mjr stsff aThl ¢Snt expansion of our tehin8 re50urc¢5 in linc with current thinking and re5eaTch. This 15 e55eniial in ordEr to SUPF4)rt our main aim ofraising our students. self-e51e¢m, assisting ihern io re8atn confJderKe and workin8 with them io develop arL¥iety minimising sirategies. The staff are ki#d. skilled aThl dedicated and after a few weeks at Northleigh. Ihe audents begin io regain lost conf(den¢e and are given help to cnable them io addres5 their hieh levels of anxiety th art caused by the dityiculiie5 they have ewieTKed in mainstream Sch]. If their problems are addressed ai thi5 Aagc, students may go on to mental health car¢ or ¢ven pri50n. When children a not ai hts)1 Ihey become frustrated and and problem5 st aTiS¢ LIKai au¢lh)rity funding is applied for but can ¢ake six 10 eighi monihs 10 be pui in plxe. li is during ihis lime they are most vulnerable a1 often Self-h or at¢cJnpi suicide in order to e5¢ape wh some see as a u5e1ts5 life wi¢h no psr$ of imwovememt. The 5ch(M)l attempt5 to get suitable children into 5th001 a5 51x>n as possible to am¢liorni¢ this ptoblem. In setting our objectives and planning our activities (rtLr Ttwttes have given wefvl consideTrtion to the Charity Commission's PLLblic benefit guidanc Volunteers and fvndrnisig The scknl is always very grateful for the volun who give freely of iheir lime in providing WOTking porties to help wilh the fabric of the school or to raise fiJnd5. 1SJr thanks go io Naiionaj Grid who have YJPFrf)rted the h0o1 for some years mw, Briii5h Energy Aviva ar¥J JaguarLandRover amon8sI othu5 who hay¢ done vtry valuabk work around the school and garden. John Lewis coThiinutd to provide help, dDnaiing Faster egg for wr rdffle ar¥J fvrniture f( the Wellbeing Cenire was donatd by Claud HO0r. Corclo8ic are embarking on a Major Projeci by Sending team5 of volunteas with all the materia15 in the Summer holidays paini ihe outside of the scknol. On the fijndraising froni. LiTha Perkins continue5 10 8tr[3tC welcome funding from a v8Jiety of s¢$ including Tes Waitrose, Honily Church. Kings High School. put on 8 charity cOrt for the hool, as well a5 a nurnber of donations from indivtduajs. The Tmrees. staff and pupils thank rlse individuals and bsits$e$ for ihe w(mderful work they do whi¢h 15 of such ben¢fii io the s¢knl. Whilst ihe charity does receive some don•ions as note4 ab)ve, thes¢ are consider&1 to be on a small scale arKI do noi f( part of the charity's PTin¢ipal aaivilie& Tr ¢harity neither parti¢[leS in publi¢ly markaed fundrdising evenls nor in the active soliciting of donations nJeTnb¢ts of the general public. Accordinglyy the charity is noi registered with th¢ Fundraising Regulator, althou8h the trustees will kecp the $itli0n under VIew. Investrnent e*pitsl proj¢¢ty Work ¢tInUeS on the fabric of the schrxjl finaiising the c(MnmissM)ning ofthe gmLmd heating system as well as th¢ solar panels. These investmets are designed Teduce our reliance on uiility eomrrdnie5 major )urte of heal and li8hi. Work w&s completed on the develmen[ and furnishing of ihe Wtllntss Centre. Page 3
NORTHLEICH HOUSE SCHOOL LTD REPORTOFTHE TRUSTEES fortht ytr end¢d 31 July 2023 FINANCIAL REVIEW Flnxntial rewitw Th¢ principal source of funding h&$ always Fen fee5 charged io I( aUritieS each child aCcding to their nttds and the TN51ee5 will coniinue io vIeW the fees ¢harged 10 ensure financi stability of the charitable C[npanY is maintsin¢d and that ihe ftts are ap[kla io the J10n kyovide As noted above the fundraisirtg a¢tivilie5 carried by so many tndividuals al ¢(wporate spw)n50r5 continu¢ io make a valLble Contribjiion io the rnnnirtg of the sehrKJl. Total irthme h&s ire&ed by 18% (£238.862) compared io last year mainly due to increases in the fee level per pupil. Totsl expenditure h&$ Incre by 18% 1£193.0911 with sthff inctt&sin£ by 37V (£251,771) altlK>ugh this is off5ei by a Teduction of 87•/ts1£123.0711 in tuilion fees as more 5taifcame on the payroll io provide leachin£ io the pupils. Tk increased inwme artd ¢(MJtrol of ¢osts Ixas alloweAI the scl¥y)I to in¢rrase the Fur¥Js carried fonvard io n¢xi yw to in¢rease by [(£276,86}. C&sh flow h¥ rtynaiJKd p)sitiV¢]01ng rash balan5 to In¢ by 1{£317,728). Invtstthtnt poliy and •bj¢dtv¢s IJring the year the Charities Aid Foundion intr(xJuced the schfy)l io an Lyganisation olled Flagstone who provide facility io chariiie5 who wtsh io plxe surplus funds with financial inmiiuil(M for various periods of lime at set interest rates. The Jva[b1a8eS 10 Nonhleigh are Ihai we can m&ximise the inresi earned while making the fijnds mort securt by investing wilh different InlIl10ns in 5um5 of £85,1MM) exh de511 is covered by Ihe Financial Services compen110 Schcrne. Monies dryosil¢d in a variw of accounts for iww¢¢n one and rhree months. This ha5 enabled us io incre&%e inl¢Te51 received from £383 lasi year10£4.264 thi5 year. Reserves pojicy The mJ51e¢s have examined ihe charity's requirtments for rtseryes in light of the main Is$ aThJ risks li facek The IM)aTd aims 10 have unTestri¢ied nei reserves in hand. These T¢serYes would used 10 cover &ny unftireseen financial difficulries thai might othen¥ise irnpad adversely the Organi10,$¢b3r1thb1¢ acLivili¢s. Tothl funds broughi forwaTd from the pvi(S year were aireJy ¥ a healthy level, estsblishtng a styong basis to support the work of ihe charity in ihe erhwing year. T81 reserves at the year end, all of which are unlesed. amouniul io£1.728.819 (2022.. £1,451.9591 The InJJ¢es are saiisfied th income over the yt4r h&% ai a 5ttsJy Icvel sufficieni 10 yjpport the activities of the charity ¢hroughoui the year and into ihe following ye4r. As Th)ied atM)vc ¢a5h rrserytt at bank remain at a healthy l¢v¢l. Colng concern The financial siakments h7dve been prepared on a going corKem basis as the ituye¢s belitye that no material unttrtain¢ies exi51. The irusiees have considErd ih¢ le1 of funds h¢ld and th¢ ¢xFacd level of intome and expeThJiiure for 12 Tnonths from auih0ri5ing th¢5e financial 5Wement& Principal risk5 and unctrtainties The charity faces vaJious Tbsks.. inclwjing firRD¢ial. reixJLltional and c(thplianct risk li ha5 a variety of polrcies and pr(Kcdures in place io manage ihese risks and ffgular tswyee oveT5ighi io erwre ihe ¢lrity minimise5 Ihe Impa of any risk& FUTURE DEVELOPMENTS The charity plans to coniinue adtvilies ouilina above in the fortlKominB yew% 5ubieu to s&tl5factory fuTrJin8 arrangem¢Thts. The Truste¢s Continue w seek ways io sre the *hool tXLildin85 through an tyjtright WTch&%e or in gxne rAher Wdy.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES for the year ended 31 Jwty 21n3 STRUCTURE. GOVERNANCE AND MANAGEME Covtrnlng do¢umthl The chaTity is witrolloj by its governing thKUMCt. the Mm¢yaTNJuTn and Articles of Association, incorpojwed 3 January 2010 arwj consiiluits a limiied company. lirniled by guarantee. as ¢kfird by the Companies Aci 21X)6. It is a rompany limiied by guardntee arhj therefore has no Sharr capitaj. Recruitment appointment and trAning of new trustttS New trusiee5 are invited 10 join ac£ording ro their eXne[e arvj b&kgrourwJ in ojtr to stwgikn t Kovernance of the charitable company. New ThAees are required complae appropriatr ijIloM ]Thing whi¢h covers safeguardin& d priY and ihe responsibtlities of ¢¢$ as set by the ChartLies Cofflrnisslon. Oryani5ational struttsyt charity 15 run by the trustee& who f¢)rnally rnetE at le&%t telY 8ThJ who e actively involved in the day 10 day rniThg ofthe charity along with a ie4m of teachin8atMI 5raff. REFERENCE AND ADMINISTRATIVE DETAIiS R¢glst¢r¢d CopartY nuthber 07116724 {England and Woles) Registtred Charrty numbtr 1135483 Registered oifice Norrhleigh House SclKx>l Five Ways Road Hatton Warwickshire CV35 7HZ Trnstees Mrs V M Morgan Mr R Kent Mr A R Edwards (resigned 15 (knoF*r 2023) Dr P N Taysurn Ms J P whilehse Mr l BuflOII Auditors Harri50n Beale & owe Limiied HighdowD House I l Highdown Ro Sydenham Leamington Warwickshire CV31 IXT Bgnlters C0ratiVe Bank PO Box 250 Delf House Soulhway Skelmendale WN8 6WT Pa8¢ 5
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES for the year endtd 31 July 2023 REFERENCE AND ADPllNISTRATIVE DETAILS Solicitors Shakespeare Mortineau Waterfront House 35 sts11( Strttl Noningham NG2 3DQ This report h&$ pryred in accor with Ihe special provision5 of Part 15 of ihc Compan5 Aci 2(MkS relating to small companics. AprKoved by order of T of on 19 (ktotr2023 and signul M its half by.. Mts V M mOrg- Tnjstee Page 6
NORTHLEICH HOUSE SCHOOL LTD STATEMENT OF TRUSTEES. RESPONSIBILITILS rorthe year ¢nded 31 Juty 2023 The trustees (who are also the directors of Northleigh House School Lid for tht puryoses of company law) are re5pon5ible for paring the RerA)rt of the Trtwtts and the financial stsiemenLS in ac£ordance with 8pplicablE law and United Kingdom Accouniing Standards (Uniied Kingdom Generally Accwoj A¢unting Prxtice). Company law require5 the tTuMees to prepare finan¢ial sraiements for ¢h finan¢i81 year which give a true a1 fair view of lh¢ state of affatrs of the ch8rirable company arwj of the i>ming r¢SrCeS and appliclon of resources, including the illCOTne and expenditurE of the charitsble panY for th lod. Tn preparing th05c financial staTemtht& the trusi¢es are required to S¢1 suitabl¢ accounting policies and then apply thun con5i5tently- observ¢ ihe meth(Kls and winciple5 in the Chariiy SORP: make judgements and ¢stimate$ that aye rn9)nabl¢ and pwdenL prepare Ihe finart¢ial sia¢ments 00 the going coJK¢m basis wiless li is inapproprie io presume the tharitable cornpany will ¢oniinu¢ in tSInes& The tnmtts are rewr1bl¢ for keeping proper ¥¢tIng r¢¢(wds whi¢th dis¢lo 1h rtasonable accuracy at any time the financial position of ihe charitsble axnpany and ¢nable ihem io en5urv ihai ihe financial stsitments comply with th¢ Companies Act 2(X>6. They are also rtsp)nsible for safe8uaTdin8 Iht a%sets of ihe charitsble company hence for ¢akin8 reasonable Steps for the preventiM and dtieciion of fraLkl and iTregul8riiie& In so faras ihe m]stttS awe awth: there 15 no Telev•i audit informalion Of which the chaTitablecomp8rty'$ aJI0Ts I unaivart" and Ihe irusiees have taken all Sleps they oughi ID have taken to make thetnselvas aware of any relevant audit informion and to e5tabltsh ihat the auditots a awa of that iDf(miw.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF NORTHLEICH HOUSE SCHOOL LTD op1&0 We have audited the firwi¢ial ateMents of Nfflhleigh House Sehool Ltd Iihe 'ch8ritsble compony'l for the year ended 31 July 2023 which eomprise the Ststemeni of FinarKial Athiviiie& Balae Sheet. the Cash Flow Siatemeni and note5 to Ihe financial statements. including a summary of significant acCn11ng rA)licie5. The finan¢ial framwork that h& been applied in iheir pParall 1$ applicable law and Unitcd Kingd¢Jm Accounting Swmlards {Unitrd Kingd(th Genernlly Acceplcd Accounling Practice}. In our (yinion the financial sratements.. give a true and fair view of ihe stsie ofthe ¢haritable ¢omwrfs affaits as at 31 July 2023 aThJ of its incomin8 reUrCeS and appli¢aiion of reswrces including its income expendilur¢ for yearthen ended- have been properly prepared in accordance with United Kingth)m Generally Actepied Aco)untittg Prl¢t. and bav¢ be¢n prepared in accordance with the requiremenLsof tr Companie5 AU 20(kn. B4$is for opSnlon We wndu¢ied our audit in accordance wth lniernation Swjdards on Auditin8 IUKI IISAS (UKI} and applicable law. Our resposibilili¢s under ihw standards are further describtd in the Audiiors, resrAJnsibiliiies for ihe audit of th¢ fit)ancial si¢ments seciion of ow resK)rt. We are indeeThi of ihc charitsble company in acajrdance wilh iht eihicgl reguiremenis thai are relevant to our audit of the finarKial Maments in the UK. inclL4Jing the FRC'5 Ethical Sthndard, and we have fulfilled our oiher tthical re5wnsibililies in attordance with these rt4uiremenlS. We believe that the audit evidence we have taintd 15 5uificient and Appropriaie to provide a bosis foT (xwopiniw. Conelusion5 relating to going concern In audiiing ihe firwicial swernents. we have ¢on¢led the us¢ of th¢ going eorwn b¥is of luAling in th¢ preparation of the financial swtsn¢nis isoppr(yia Based on ¢he work w¢ have wfomied, we havt not idtniified any Mc uncertainiie5 relllling to evcnts OT conditions ihal, individually or colleciively, may ca51 significani dou on ihe charitsble cwpany's ability to Continue a5 & going for a period of at least twelve months from when Ihe finarKial statements are ahOri$¢d for Is. Our responsibiliii¢s aJNI the re¥M>nsibiliiies of the trullees with rewt going destribed in relevanr sections of ihis rewt Other Informth) tTUSt¢es are responsible for ihe olr inforrnaiion. The ithforniation comprises the infonnion included in the Annual Repor4 other than Ihe financial Statements a1 (rtJT of the Ind4xndeni AUdirS Ihereon. Our opinion on the financial 5taternents does not V¢r the othtr infomi&ion and. cxceF4 to the exient othm¥ise expliciily stated in our rerK)rt. we do not exprtss any form ofassuTarte conclusion Ihere4)n. In connecli¢Jn with our audi¢ of the finala1 sthteMeTr our re¥IbIlIty is to re8d th¢ ¢xher information an in doing so, consider whethei Ihe other inforniaiion is marerially irKonsixen¢ wilh the financial sraiements or our knowledge obtained in the audi¢ or othetwise appears io be MaterilY mis51¢d. If we ideniify merial inconsistencics or appareni material misststements, we are required io de(crrnine whdh¢r this gives rise io a m&er• rnissiaternent in the fin3n¢ial siat¢m¢nts themselve& If, b&sed on Ihe work we have formed, wt Clude there i5 a TnateTial miss(aLememi of this other infomiaiiorL we are required io TEPOrt that faa. We have nothing io Tep)rt in thi5 rrg¥d. Mattef5 on which wt rt to report by exteptioH W¢ have nothing io report in respea of the following rnattets the ChariiiE5 (Accounts and EiqxJrts} Regulation5 21M)8 requires u$ 10 rerM)n you if, in our opinion.. the infomiaiion given in the RepLYt of tht Tru#ees is inconsiyrni in any MaTial re5Prti with the fInarK1 5taternent& or Ihe charitable company h&5 rKi kept adequ&e accounling te¢ords" or the financial swements are in agrttmtni wilh lh¢ accouniing rdS and rewrn5' or we have noi received all ihe infornl0 *d expla[]0 w¢ require forour audii.
RIPORT OFTHE INDEPENDEr AUDITORS TO THE TRUSTEES OF NORTHLEIGH HOUSE SCHOOL LTD Responsibilities of trusts¢s As explained mor¢ fully in the StatementofTru5tceg R¢syonsibilitithc truste{WhO ateaiso the diredoTS of Ihtcharl[e company for the purposes of company 18wI are responsible for the PTeparation of th¢ financial sthtemenis and for being satlsfied thai they Eive a true and foir view. and for such IntemJi tontrol as the trusiees detennine is nete&$8ry io enable the Pparlon of financial siat¢m¢nts that are free from material missttnenL whether du¢ ftaud orerror. In prep8rin8 the fjnancial Statemen the trustees e reswible for &sstSSi#8 the charitable company's ability to continue as a goin8 concem. disclostn& &$ &pplic8ble. mattets telattd 10 gotng concern and usiftg thegoiTrg coftcern b&sis of accouftting URless the trustees either intend io liquida the ch8Jirable company or cea%e operations or have no realislic aliernativ¢ but io do so. Our rt5pon5ibiliti¢s for tke •ydit ofthe fiDaA¢ial statements We hav¢ been appointed as auditor5 under Section 144 of the Chorrities Act 201 l and rep)rt in 8ccordaTh¢e with the A¢t Jnd relevant r¢gulaiions made or huving eff¢¢t Ihereunder. Ourobjettivesaye toobtain reasonabletssurknteab0htthtrtht fJn8mciaJ stst¢ments¥S awhole artfree fmm material misstatement, whethei due LO fraud or em)r. and to issue a Report of the Independent Auditors that includes our opiftiort. Re&sonable assurance is a high level of assuran bui is not a 8uaraniee that an audii conducied in accordance wirh ISA5 IUK) will alway5 delect a rnatcrial rnisstattment whcn it ¢xists. Misstaterntrtis can aTiSe from fraudor etrot and att considered Mer•al if. individually or ITh the ag8re8aie. they Could re&%onably bc expected to influence the ecorMi¢ decisions of uscrstaken the basis of thc5e financial statrrnen The extent to whi¢h our prlUTeS are capable of dlg ]rTegul11IC& inclvding fra1 i$deI&l b¢low: The audit process irtcludes an assessmcnt of the entitgs risk environmeDi thrwgh enquiry of and discussion with management and those ch8Tged with go¥ernanc< including Èn &ssessment of any key laws and regul10n5 with which the Chilable company musl comply in the ordinary course olits business. Addiiiona]ly. theoverall risksof Irregulartran5a1on5oCcurrIngart&S¢fOlloingOurQbStrv9I1OstyEbdtDMfim)8tioftof the design and impl¢Tn¢nlalion of managem¢nVs controls. Whilst we aT¢ mindfvl of th¢s¢ ris our dit focus 1$ Beared WardS the risk of ma*ri81 tni5statetnf in the fJnanciJ statements a whole. As sueh, out procedures caThnoi Euaraniee that traft5aaion5 h&ve been llY cornplianr with all relevant laws and regulation& includingthose regulations relatingio frau(i ourproceduresaJ¢noidesigned io dercu all in5tanc¢5 of non-¢orJJpliance. By definitio the risk of OUT detection of non<omplianc¢ 15 greater where cotnpliance with a law or rtgulation i5 rcmtsved from the cvcnts and transaciions refl¢ed in the fin¥n¢ial ststements. The risk is also greaier regarding irr¢gul8Ti¢i¥ due to fraud rntherthan error. frdud involvcs Intention ¢on¢¢aim¢rt4 forgery. Collusion. omission ot misr¢pr¢serttation. A further description of our re5ponsibililies for the audit of the financial stsiemcnts 15 located OTh the FinaThciaJ Rewrting Council's w¢bsit¢ * www.fTC.org.uklaudÈtorsTesponsibiliLies. ThL5 description forn of our Reporr of the IndependentAuditots. Page 9
REPORT OF THE INDEPENDEirf AUDITORS TO THE TRUSTEES OF NORTHLEICH HOUSE SCHOOL LTD Use of our report This report is made solely io the charitablc company'5 trustees, a iM)dy. in accordance with Part 4 of th¢ Charities (Accounts 8nd Reports) Regulation5 28. Our audit Work ha5 b¢•J undertskert $0 that we Might 5tatc to the charitable cornpany'5 trustees those matters we are r¢quired io siaie 10 thtffl auditors, rew1 and for no oihtrpuFpose. To the fullest ¢xteJ)I penJ)itted by law. we do not atcepl or assume responsibility to anyone other than the charitsble company 8nd the charirable companys irusLees a body. for our audit worK for this repts or for the opinions we hav¢ form¢d. for and on behalf of Harrisot) Be¢ & Owen Limited Eligible io acr &% an auditor in ienns of Section 1212 of the com1¢$ Ad 2(X)6 Highdown House I l Highdown Road Sydenharn LeAmin8ton Spa WaThickshite CV31 IXT 19 October 2023 Page 10
NORTHLEICH HOUSE SCHOOL LTD STATEMENT OF FINAf4CIAL ACTIVITIES {INCORP0114Tif4G AN INCOME AND EXPENDITURE ACCOUNT fortht yereTrdtd 31 July 2023 2023 Unr¢stritted futhd 2022 Totsl fund5 INCOME AND ENDOWMENTS FROM Volunrary income 24Y)7 48.897 Charitabk activities Education servic¢s IA97JOS 1,242.557 Fund 8eneratlng a¢livilies Invcslment tn¢ome 6833 S) 383 Total 1531.199 1.292,337 EXPEIYDITURE ON Charitable activities Education service5 1354JJ9 1,061,248 NET INCOME 276 231,089 RECONCILIATION OF FUNDS Total funds brought foTrvard IA5I.959 1,220.870 TOTAL FUNDS CARRIED FORWARD 1.728019 ,451,959 The mtes fom) part of the5c r]nla7 stsiements dgell
r40RTHLEIGH HOUSE SCHOOL LTD BALANCE SHEET 31 July 2017 2013 Ullrestrict¢d fuJMI 2022 Toial Noies FIXEDASSETS Tangible &sse15 13 204J71 203,791 CURRENT Assgrs Debiors C&%h 21 knk 14 izslz 1916.959 21,140 I,(A)5,231 1929.481 1,626,371 CREDITORS Amounts falling duc within (e ycar 15 1405JJ33 (378203) NETCURREKfASSETS lJ24.448 1,248.168 TOTAL ASSETS LESS CURRENT LIABILITIES 1.728119 1,451,959 NET ASSETS 1.7W19 1.451,959 FUP4DS Unrestricted fvnds 17 1.728019 1.451.959 TOTAL FUNDS I,n8819 1.451.959 The charithble C(panY is enttiled exemNion from audit urmler Seciion 477 of the Cornpani¢s Aa 20[ for the year erTrded JI July 2023. ThE memkr5 have not dglled tIcE PUT5uaM St£tion 476 of tht Companie5 Act 2(K)6 requiring an audit of these financial statements. The trusttts acknowledge their reSwxibililItS for (a) ensuring that rharithble ¢iNnpany keeps accwnting records th c(Trmply with Se¢tions 386 and 387 of the Companies Aa and preparing finan¢ial siat¢ments whi¢h give a tjue aThJ fair view of the swe of affai of th¢ clwitsble ciThpany as at Ihe end of each finart¢i year and of its sury>lus or defJ¢il for exh finan¢ia] year in accordance wi¢h the Tequiremenis of S¢ction$ 394 and 395 and which otherwise c(Knply with th¢ r¢quirtments of Ihc Companies Ad 2)6 relating io rinancial staiemeThi& so far&s applicable 10 the charithblt company. {b} Tlse financial s&temffits have been aj7*d uymkrthe requirtTrth of secti 145 of the Charities Aa 2011. Th¢ Thxes fcm port of these financial swements Page 12 continued...
NORTHLEIGH HOUSE SCHOOL LTD BAIANCE SHEET- contin#d 31 July 2023 These financial statements have be preF¢r in xc¢KdarKe with the provisions or¢>111¢ io charitable ¢ompanie5 subje¢1 to the small companies regime. The fin0¢1814arnets were ar4xoved by the Board of Tru5e5 and oU)rised for iwe on 19 O¢tolr 2023 and were siglled on its t¢half by: Mr5 V M MoTEan. Tne¢ The no*s fo part of these finarKial 51atements Pa8e 13
IYORTHLEIGH HOUSE SCHOOL LTD CASH FLOW STATEMENT for th¢ yer ¢nd¢d 31 Jllty 2023 2023 2022 C4$h flows from optrnting activities C&sh generwed from orKration5 Intere51 paid 374554 (J70} 348.781 {38} Nei c&sh Provided by op7ng l¥ll1eS 374184 348,743 CA5h flows from investing 8¢tiviti¢s Purch&fe of ianRible fixed assets Interesi rtceived {6&720) 1148,140) 383 Nel cash usd in investing activities {62.456) {147,757) Change in cash And equivlents in the r¢porting ptriFyl Cash ad tA5h equlvAlents at tbt btglnnlng of ihe rewjrting rIOd 311,728 2(M),986 Jh05231 1,404245 Ca$h nd ea5h equivAlents t the end of tht reportlng ptrlod 1916959 1,605,231 The ThNes form of kn firtancial swunen Page 14
NORTHLEIGH HOUSE SCHOOL LTD N(wfES TO THE CASH FLOW STATEMENT forthe yereAded 31 Juty 2023 RECONCILIATION OF NET INCOME TO NET CASH FIA>W FROM OPERATING ACTIVITIES 202J 2022 Net iatome for the reportiDg pernd (as per the Ststment of Fiw#ntll Attivitie$) AdJust¢ts for: Depreciaiion charge5 Los5 w diswsal of fixed &sts Inierem received Interest paid Decreasel{inrrcase} in (kbtor5 Increase in crrditor5 276160 231,089 S774 9,066 (42641 J70 &618 29,610 {383) 38 13.3401 91,767 Net C8sh provided by optrtioTrs 374354 34&781 ANALYSJS OF CHANGES IN NET FUNDS Ai 1.8.22 C&%h flow At 31.723 N¢1 efjsh C&8h at bank 1815,231 311.728 1916,959 311.n8 1916W9 Totsl I3)1 311.728 1.916.9YJ The n(tts fomi tw¢ of these finan¢ial swements Page 15
NORTHLEICH HOUSE SCH(K)L LTD NOTES TO THE FINAYCIAL STA TEMENTS for the year endtd 31 Juty 2023 ACCOUNTING POLICIES Bsk of prepiriAg the financial ststtth)ents The tinancial sts¢¢Tnent5 of the clkaritsble company. whith is a public benefii entity undcr FRS 102, have prepared in a¢¢orfance th the Chariiies SORP {FRS 102) 'Accounting and Repming by ChaTiiies.' Staiemeni of Recommended Practice applicable ¢haTilies prEparing iheir acu)unts in nce with the Financial Reponin8 Siath applicabl¢ in the UK arKI Rwubli¢ of IrelaTh] IFRS 102) leffective l January 2019y, Financial Reporting Siandard 102 The Financial Rew>rting Stsndard alILIble in UK and Republic of IreLqnd' and the Companie5 Act 2006. The financial stst¢ments ve tten prep¢d underthe historical CO conveniiorL The accounts have bttn in xcordance with arry)litable accounting 51andard& Tr principal accountin8 policie5 adopred in ihe prepardiion of the firwla1 staments art sd out below and have rnned urKhanged from the prevityjs yt4r. Critical attountine judgements and key sourets of t5timatiOA tsntettsittty To be able io prepare financial statements in accottW wilh FRS 102, the ¢t0rity must Jnake certain eMimate5 and judgemenis ihai have an Impaa on the )lICIeS atyj the amount rerted in the anrtuol )unIS. The estirnates and judgements are bth on hists)Tica] exrienCeS and her faciors inclLKlin8 exrtttaiions of fu¢ur¢ events that art believed io be reasonable time Such e5timaie5 and Judgemen[sa made. Ineome All income is Tecognised in ihe Siaiemeni of Financial Aaivirie5 orKe Ihe charity eniiilement to ihe funds, it is probable that Ihe incorne will be re£Ved and amouni Lzn be mtawrtd reliably. For dOnlon5 to be recognised the ¢hariry will have been llolified of the amOts and the settl¢mEnt d&e in WTiiing. If Ih¢r¢ are condilion5 attxhd to lh¢ and ¢hi5 wuirEs a l¢vrl of FKrfotmanc¢ befor¢ entitlement Otrtain thcn inwm¢ 1$ ¢kf¢rr¢d until thosc conditions are fijlly met or the fulfLlmeni of those cThJditions is within the control of the ¢lwty othd il is prohble ihat fvy will Lx fulfilled. rk)naied faciliiies atNI donatsd professional services are recognised in income ar their fair value when their e£onomic benefji is probabl< it can me&sured reliably and the charity h&5 control 0¥ the item. Fair vdue hs de1Thed on the b&sis of ihe value of the gift to the chariry. for example the am¢)unl the tharity Wld be willing to pay in the orrtn marka for such facililie5 ar¥J 5ffvicc& A (¢)¢SK1)ng amount js rr¢egnisrd in ¢xp¢nditurE. No amouTht 15 included in the finan¢iaJ atements for volunieer time in line with the SORP. Fhtr detsil is given in the Tru51¢eg Annual Report. Interest iTKome is recognised using the effeaive intere Ta mdFKJ aNI is wised the charity's righi receive payment 15 e5labl15h. This is TK)rmally upon Th)iifi¢a¢ion of the inr¢# paid or Yable by lh¢ bank. Government grants arising from the imp¢¢ of Corothavirus ICOVIt%19) are reawtrised in the in which they corne rrceivabl& ExpenditYTe Liabilities are recognised as e¥pendiluff as soon as ihue is a Iwl or consttwive obligation c¢xnmitting the charity 10 that expenditure, il 1$ probable transfer of economic rIL will required in 5elllemeni arwj the amouni of th¢ obligation can be me&sured reltably. EX[lluTe is accountrd for on an a¢¢ruals basis has been cl&551rd under headings Ihai aggrege all relad io the category. Wh¢re ¢osts tannoi be dirttily attributed to particular hlIng5 they havc ken allad lo xtiviiies a ba515 miyeni with Ihe use of re50U Irrrfovernble VAT is Charged as an expcn% againA the lVIty forwhich ex¥ji[t 8T05e. Tagibk fised assets D¢prEciatson is provid * the following annual ras irt or(kr ¥itr off each assei over IES lmated useful life. Page 16 continued...
NORTHLEIGH HOVSE SCHOOL LTD r40TES TO THE FINANCIAL STATEMENTS- eontinutd for the year ended 31 July 2023 ACCOUNTINC POLICIES- coD¢inued TaTrgibk fixed asstts Improvements to pro Fixtures and fillings Compuier equipment 21fAon cost 25%on redu¢ing tAlanLf 4on reducing tolance Tangibl¢ fixed a%sets are ¢apitslis¢d whewe exFtndi¢uwe ex¢eeds £l,¢MI and are gated ar coy (or deemed &t) kss awumulated depff¢iaiion and aceumuled Impmimil k6s¢& c inclu&s crtsts diTttily attributable io makin8 the &sset capable of operating as int¢tthd. Taxatioll The charity is Cffis1(kr to pw 5¢t out in Para8raph I Schtdule 6 Finance Act 2010 and therefore it meets Ihe definition of a ¢haritsble ¢ompany for UK cwra(K>n tax purrA)s& A5 such, it does not have liability lo corFA)fd¢ion in the course of its nomial Clrnritable a¢tiwilK Fund accounting Vnre5tricd funds w be in xCOrdan with thecharitsbk oiyeuivts ihe difftion ofthe tyusi¢e5. Furthcr Gxplanation of ihe nawre and purF¥Jseof each fund is iTKluded in the TNMe5to the fLnancial swement Pension costs awd other post-tttirement bener The charitsble company orrtrdlcs a defined contriblon [Kn5 xheme. Con¢ributions payable io the charitable compsny's pthsion scheme charged to th¢ SeMen1 of Financrdl Acliviiie5 in the period to which tY relate. Fkngndal instrumthts Loans and borrowings are iniiia]ly recognisJ at ihe wic¢ including msxtion cots Subsequenily, tky are ffle&sured at amortise4 cost using the etTeaiv¢ inLU¢St e mhJ, less impairncnl. tkbtors and tdItorS with no 51atcd intere51 Twe aTwJ (eivable or payablc within one year art recorded at tranwiion pri¢¢. Any1055e5arising frthn impairrnent aTf rccogniJ in the irKome wtement. Cash and ¢ash equivalents in the bdarte she comwise (ash banks and in hand and short iet)n derKbsilS with a ma¢urity of3 rnonths or lesk Company $t•ty$ and genenl infornat)n The charity is a priv&e company irtorwrated in England and Waks and is limiod by gwantee, with no share capilal. The addTe55 of the gIstered office ar¥J regiernl numbets of the ¢onpany and rharity are shown in the Report of the Tntstces. Page 17 Contin..
NORTHLEICH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS- eoiitinKd for the year tndtd 31 July 2023 vOLUfARy INCOME 2023 2022 Donations and 8fdnis Gift aid Govemmem grants Sundry ineome 1&139 1358 34.534 525 12,500 1,338 22J97 48,897 Grants received, included in (ht as foll 2023 2022 Other gran¢s 12,500 FUNDCENERATING ACTIVITIES 2023 2022 Fundraisin8 tvtnts Ir4VESTMENT INCOME 1023 2022 DetM)sit account inteTest 4264 383 INCOME FROM CHARITABLE AcfiviTIES 225 2022 Activity EdUclOn 5ervice5 Fee income IA97505 1,242.557 CHARITABLE ACTIVITIFS COSTS Direct CoAs15ee nole 71 SuprM)rt eosts {see ie8) TlS EdUclon stsvicts 1.174J46 79993 1354J39 Page 18 continued...
NORTHLEIGH HOUSE SCHOOL LTD NOTFS TO THE FIT4APICIAL STATEMETrrfs- tfjDtinued for the year ended JI Juty 2023 DIRECT COSTS OF CHARITABLE ACflVITILS 2023 2022 Staff costs Raics and wat Insuran Office ¢osis Advertising Sundri¢s Maintenanct Motor and irdvel costs Food Garden Therapy Training and re¢witsncnt Tuition fe¢5 Le550n supplies Rent Subs¢r110nS & memberships In*rtst payable artd similaritharges 929278 677.507 3.625 20,030 54,815 658 6,247 21.302 5.361 4,725 894 35,454 6,155 142,244 8.378 21.(KX) 5.882 38 25.176 45581 939 38,134 4,672 J4J25 3J05 3OJ92 2.147 19,173 10249 11.725 370 1.174J46 ,014,315 SUPPORT COSTS Firtance Totsls EdU10n service5 6&140 13353 ,YJ3 Support C05t& included in theaFKJve. are follows: 21n3 2022 rotal Educ&ion s¢tvice5 ivilies Depreciation of tangible fLxed Loss on sale of tangible fixed assets Audiiors, remuner2ih)n A¢¢ounrw fees Legal fees 57.074 29,610 6351J JA12 3.701 9,452 79.993 4A933 Page 19 ¢oniinued..
r40RTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS- ¢o•tioued ror the year ended 31 July 2023 NET IIYCOMEI(EXPENDITUREI InCne}(eXrndI1Urtl is ststed after(har8inW(credi(ing)'. Z023 2022 Audiior5' Temuralj0n Deprec110n- owned assets Defi¢it on disposal of fixed assets Payrnents under 0ratIng lea5¢5 Govemrnent grdllts- COVID 6250 57J)74 6250 29,610 (12.51J)I io. TRUSTEES. REMUNERATION Af4D BENEFITS There were no ¢n&ees' iemw)ern¢ion or (rfhtr benefits for the year er¥kd 31 July 2023 nor for lh¢ year ended 31 July 2022. Trusle¢$' ¢xp¢ns¢$ During the year one {2022: e) ¢TUStK Mrs V M MLwn, was rtimburstsj expenses relating to tharithble activities iotslling £50.070 {2022- £44,804}. Amounts owed Mrs V M MoTgan at theyear tcAalled £6.9)3 (2022: £4J26). STAFF COSTS 2023 2022 Wage5 and salarics Social security costs Other pension ¢osts s381 73J64 1&453 616.744 49,793 10,970 929278 677.507 The averd8e monthly numIr of employe¢5 during the y¢arwdsas follows: 2023 31 2022 26 Teaching and athninistration Staff No employees e1Ved emolumens in exce55 of £60.(th. coniinued...
NORTHLEIGH HOUSE SCHOOL LTD NOTLS TO THE FINANCIAL STATEMENTS- eorttinu¢d for the year end¢d 31 July 2013 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIFS Unrestricted fijnd INCOME AND ENDOWMENTS FROM Volunthry irKomt 48,897 Charitsbk Activities Education serviees 1.242,557 Fund genuwiog a¢iiviii¢s Invesimen¢ iome 500 383 Tot1 1.292.3J7 EXPENDITURE ON Ch8ritsble clivitie5 Educaiion services 1.061,248 NET INCOME 231,089 RECONCILIATION OF FUNDS TOMI funds brought forward 1220.870 TOTAL FUNDSCARRIED FORWARD 1,451,959 Pa8e21 continued...
NORTHLEICH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEM£NTS- eontin•t for the ytarefjded 31 July 2023 IJ. TANGIBLE FIXED ASSETS Fixtwes io Compui¢r equirnent fitiings Totsls COST Ai l August 2022 Additions Disposal$ 349J87 51.784 11299051 25915 423.960 66,720 {182958) l392J (33.154) {19W9} Ai 31 July 2023 271866 6&19 29h37 307.722 DEPRECIATION Ai l August 2022 Charge for year Eliminated on disr J64.IS9 491196 {12&107} 19J62 220.169 S7074 II73W921 7,167 (313481 (16SJ7) At 31 July 2023 87.148 3W6 12J67 IOJJ51 NET BOOK VALUE Ai 31 July 2023 l84Jl8 17J17(1 204J71 Ai 31 July 2022 185.428 6.143 12.220 203,791 DEBTORS.. AMOUP4TS FALLING DUE WITHIN ONE YEAR 1023 2022 Other d¢btOF5 Prep3yrn¢nts and accrued in¢ 12J22 21.039 12522 21,140 J5. CREDITORS: Amourits FALLINC DUE WITHIN ONE YEAR 2023 2022 TrJe crediior5 Social Security and other kxes Oiher Crtdiiors Accruals and dcferrd irKome 24988 17J51 7.102 355J92 19,148 18,907 1,203 338,945 405W3 378.203 Deferred incorne ComSe5 fee incle have been received in thance ofthe fortlKoming leM1¢ yew. 2023 2022 Ba12rKe 0$ at l August 2022 Arnounl released to IrMe eamtd fmm ¢lwithble auivitie5 Arnouni deferred in year J31,620 {331ffi201 347,916 251349 {251349) 331020 Balat es * 31 July 2023 J47.916 331ffj20 Page 22 coniinLhed...
ORTHLEICH HOUSE SCHOOL LTD NOTES TO THE FINAiYCIAL gfATEMEP4TS- ¢optiDued for the yur ended 31 July 2023 16. LEASING AGREEMEP4TS Minimum le rAYrnen under non-¢ancellable orrniing leases fall duc as follows.. 2023 2022 Withitt one year Beiween one and f1veye5 I,O(M 3,013 17. MOVEMENT IN FUNDS Ner mov¢meni in funds At 31.7.23 At 1.8.22 Unr¢strkt¢d fvods General fund 1851.959 276160 1.7W19 TOTALFUNDS IN51.959 276WI ,72819 Net movement in furtd% included in ai)ve ar¢ &$ follows: IornIn Moverncnl in funds exnded Unrestritted funds G¢neAI furtd lJ31.199 {1254J39) 276160 TOTAL FUNDS 1531.199 (1354J391 276160 Comp*rntlv¢s for movement ill Nei movement in fijnds Ai 31.7.22 Ai 1.821 Umr¢stri¢¢¢d funds General fiwd 1.220.870 231,089 1.451,959 TOTAL Fuf4DS 1.220.870 231.089 1.451,959 Page 23 c£tin...
NORTHLEICH HOUSE SCHOOL LTD NOTES TO THE Fif4ANCIAL sfA TEMENTS- toiitinwd for the year ended JI July 20Z3 17. MOVEMENT IIY FUNDS- coulinwed Comparative ne¢ movemeni in fun inclulkd in the aLt e as folk>w IrKoming Movement in funds exrKnded Unrestricted funds Gentrdl fund 1292J37 (1.061.248) 231,089 TOTAL FUNDS 1.292.337 (1.1.248) 231,089 A ¢urr¢nl ycar 12 rnonihs and pri yew 12 monih5 cornbint41 rx)5iIi is as follow& movement in fund5 At 31.7.23 At 1.821 Unrtstricted fund5 Generdl fund 1220.870 507,949 1.728,819 TOTAL FUNDS 1220,870 507,949 1.728,819 A curreni year 12 months aTKI pri year 12 mLKrth5 Ubild movement in inclLMlcd in ihe atA)ve are as follows.. Inc(Mni Movement in funds eX[jed Unrestricted fuTh15 GerraJ fund 2,823,536 12,315,587) 307.949 TOTAL FUNDS 2.823.536 12 J15,5871 507,949 Th¢ general fund re[eSents the free funds whKh are not de5ignawi for rArtilar PLpose& Page 24 linu..
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS- tonlillued for the yeartnded 31 Juty 2023 i& RELATED PARTY DISCLOSURES The charityble oynpat)y pwd ret)t to Mrs V M afyj hes family durin8 tth(Ml amounting to £26,5 {2022 - £21,(KK)}. Page 25
NORTHLEIGH HOUSE SCHOOL LTD DETAILED STATEMENTOF FINANCIALACTIVITIES for the ytxrtndtd 31 Juty 2023 2023 2022 INCOMEAND ENDOWMENTS Voluntary income Ek>Thaiions and grants Gift aid Government grants Sundry iome 1&139 IA58 34,534 525 12,5(M) 1,338 22J97 48,897 Fund g¢nerting activities Fundrdising events Ihv¢$tmertt ineon Deposil accwnt inieresi 383 ChAriible 8e1fvles Fee income 1.497JlS 1,242.557 T•t#l ineothittg r¢sour¢¢s lJ31,199 1292,337 EXPENDITURE Ch•rit•blt Attivities Wages Social se¢urity Pensions R*e5 ar¥J waler Insurance OlCe c051S Advertising Sundrie5 Maintenance Moiorand travel costs Food Gaten Therapy Training and Te¢ruiimrni Tuiiion f¢¢5 Le550n 5upplie5 Rent Subscriptions & membership5 Bank Charges 838¥1 73964 IA453 2,661 25,176 45581 768 616.744 49.793 10.970 3,625 20,030 54,815 658 6.247 21 J02 5J61 4.725 894 35,454 6,155 142.244 8J78 21,0(MJ 5,882 38 38,134 4,672 14J25 )J05 30J92 2,147 19.173 10349 I 1.725 370 1.174J46 ,014,315 This page dL%S fomi parf of the $VIOry fin¢81 slaents Page 26
NORTHLEICH HOUSE SCHOOL LTD DETAILED STATEMENT OF FINANCIAL AcfiviTILS for the year ended 31 July 2023 2023 2022 Supp)rtt(6ts FIDaty¢¢ Dekyeciation of tamgible fixed assets Loss on sak of ¢angibl¢ fixed assds 571174 29.610 6&140 29,610 Covernlwee ¢o$ts Auditor5, remuneration A¢ctsuntancy ftes Legd ftes 6350 3J02 J.701 6250 1,621 9,452 17J23 Tual resoLw¢es expenthd 1354JJ9 1,061,248 Net income 276 231,089 This pa8edoes forni ofthe Aabjtory fi[wla] ststrm¢MS Pagc 27