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 #131 NORTHLEIGH HOUSE SCHOOL LTD CONTENTS OFTHE FIP4ANCIAL STATEMEP4TS foT tht yeAr ¢nd¢d 31 July 2023 Pagt Report of ihe Trwiees Statemewt of Tru￿te$. Rwnsibili¢ie5 Report of th¢ IJMieprnd¢nt Auditors Stxt¢rn¢nt fyf wi￿￿¢1*1 Adivits¢s B#i*rt¢e Sht¢t 12 to 13 C•sth Fk)w S¢at¢m¢tyi 14 Notes io tht C*sh Fb)w Sts¢¢th¢n¢ 15 Notes lo ¢h¢ FimaNEial Ststtmtnts 16 10 25 Detailed StaterneTht of Fin•D¢i*l 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 y￿r ended 31 July 2023_ The trustee5 have thpled the PTOViSiODS of Accounting and Reporting by Charilies.. Staiemeni of Recommen￿{ Pwtice a￿lILable ￿ charitie5 prry>aring their a¢￿Unts in accordanc¢ with the Finw¢ia] Reponiog StaTrJard aFWt¢able in the UK 8￿j Rcwblic of Ireland IFRS 102) {effeclive I j￿Uary 2019}. OWECTIVES AND ACTIVITIES Objective5 8nd Northleigh House School is a Sm￿1 ￿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 selfl. we strive to achicvc a happy, carin& safe and nurturing envin)nment Whe￿ children ￿ grow and develop io their fvll potential whilst following individual edwion pro8fdmmes and siudy in F*auti￿1 5urroundin84 wilh stsff who ￿Te very much abo￿ th¢ir safety, well￿]ng snd F¥ogrts& We take iht time to get to know our chilthtyb well - aided by gnall gtollp size& often l..1. We endeavour to equip childr¢n with the skills ihey need 10 be su¢¢¢sS￿L in the ouSid¢ world whilM making th¢m feel valued. Northleigh HOU￿ School aims io [￿1￿ce happy. re-enga8ed young rthple ewipped to confidenily mov¢ forward with their liv¢& The rKogTe5s of our Mudents 15 closely monitOTtd. and our driving is lo ronlinLt¢ providing a high sthndard of atademic, 50cial and ¢m￿lonal eibjcation whith wll enable our young pwl¢ to tske their place in S￿Iety a5 well rounded and Suc￿ssfUl individual> We seek to promote this through a truly per50naliscd. stLuJent-kd rurri¢ulum crK(wnp￿ng ￿th academic and therapeuii¢ suppon th& embeds within il the 3th￿l,$ core V￿￿e$. The C(Ye Valw Northlei8h House seeks io ]xom(rte in its a - P05irive 5elf-esteern - Confidentt in one'sown jwlgem¢ni S¢lf-reliance . Ambition and Cofflpwion Indep¢nd¢n¢¢ Page I NORTHLEIGH HOUSE SCHOOL LTD REPORTOFTHE TRUSTE&S for the year ended 31 July 202J OWECTIVES AND AcfiviTIES nifteant activities The school passed its l(hh anniversary in 2022 aTrJ in those Yea￿ arbj in 2023 mott than l(X) young wple have rnoved on into higher edu￿tIOn or employment this year h&% seen conlinued hcalthy progress in the ￿￿c￿)las rnOTt stud¢nt5 have successfully moved on. In the year undcr review the sch￿[ has opcrdted Same level as l&st ytar wilh 34 pupils. In ihe annual exams 27 sivdenis sat 4 variety of pa￿￿5 * dilT¢rtnt levels IGCSEJFuD¢t*)nai Skillsl 9 Sat 21 GCSES with only 3 papers mark¢d below a gr* 4. Th¢ avera8e GCSE 8r&le was 5, with 9 of the F4sse$ 8r*d 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, m￿h$ 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 as￿sseS 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 ¢d￿￿10n81 leamin& I udent atttrtded ihe RSC As￿laT￿l 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 LeaMIn￿Ort Sp& Life skills are the subjea of SU￿market shopping irips. weekly work experience ai a local Naiic*nal TnL%t pror*Ay and trhps io Hanon coun￿ World ￿ well &$ a11-sch￿l 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 t￿OSTeSS would have txtn hard th predict aThl many pupils keep in t0￿h 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 0￿ECTIvEs AND ACTIVITIES Publie bentfil W¢ are committed to the continueAI rKoftssional developmcnt of (Mjr stsff aThl ¢￿S￿nt expansion of our te*hin8 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 a￿1 often Self-h￿ or at¢cJnpi suicide in order to e5¢ape wh* some see as a u5e1ts5 life wi¢h no p￿sr￿￿$ 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 fvndrnisi*g 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 HO0￿r. 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 cO￿rt for the *hool, as well a5 a nurnber of donations from indivtduajs. The Tmrees. staff and pupils thank rl*se individuals and b￿sit*s$e$ 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 $it￿li0n under ￿VIew. Investrnent e*pitsl proj¢¢ty Work ¢￿tInUeS on the fabric of the schrxjl finaiising the c(MnmissM)ning ofthe gmLmd heating system as well as th¢ solar panels. These investme￿ts are designed Teduce our reliance on uiility eomrrdnie5 major ￿)urte of heal and li8hi. Work w&s completed on the devel￿men[ and furnishing of ihe Wtllntss Centre. Page 3 NORTHLEICH HOUSE SCHOOL LTD REPORTOFTHE TRUSTEES fortht yt*r end¢d 31 July 2023 FINANCIAL REVIEW Flnxntial rewitw Th¢ principal source of funding h&$ always F*en fee5 charged io I(￿ aU￿￿￿ritieS each child aCc￿ding 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[￿k￿la* io the *J￿10n kyovide As noted above the fundraisirtg a¢tivilie5 carried by so many tndividuals al￿ ¢(wporate spw)n50r5 continu¢ io make a valL*ble Contribjiion io the rnnnirtg of the sehrKJl. Total irthme h&s i￿re&￿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¢￿]0￿1ng rash balan￿5 to In￿￿¢ by 1￿￿{£317,728). Invtstthtnt poliy and •bj¢dtv¢s I*Jring the year the Charities Aid Found*ion 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 in*resi earned while making the fijnds mort securt by investing wilh different In￿lIl￿10ns in 5um5 of £85,1MM) exh de￿511 is covered by Ihe Financial Services compen￿110￿ 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$￿ aThJ risks li facek The IM)aTd aims 10 have unTestri¢ied nei reserves in hand. These T¢serYes would ￿ used 10 cover &ny unftireseen financial difficulries thai might othen¥ise irnpad adversely ￿ the Organi￿10￿,$¢b3r1thb1¢ acLivili¢s. Tothl funds broughi forwaTd from the p￿vi(￿S year were aire*Jy ¥ a healthy level, estsblishtng a styong basis to support the work of ihe charity in ihe erhwing year. T￿81 reserves at the year end, all of which are unles￿ed. 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¢ le￿1 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 ris*k li ha5 a variety of polrcies and pr(Kcdures in place io manage ihese risks and ffgular tswyee oveT5ighi io erwre ihe ¢l*rity 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 s￿￿re 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 thKUMC￿t. the Mm¢yaTNJuTn and Articles of Association, incorpojwed 3 January 2010 arwj consiiluits a limiied company. lirniled by guarantee. as ¢kfir￿d by the Companies Aci 21X)6. It is a rompany limiied by guardntee arhj therefore has no Sharr capitaj. Recruitment appointment and trA*ning of new trustttS New trusiee5 are invited 10 join ac£ording ro their eX￿ne[￿e arvj b&kgrourwJ in ojtr to stwgikn t￿ Kovernance of the charitable company. New ThAees are required ￿ complae appropriatr i￿j￿IloM ￿]Thing whi¢h covers safeguardin& d pri￿Y 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 te￿lY 8ThJ who *e actively involved in the day 10 day r￿niThg ofthe charity along with a ie4m of teachin8atMI 5raff. REFERENCE AND ADMINISTRATIVE DETAIiS R¢glst¢r¢d Co￿partY 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 whileh￿se Mr l BuflOII Auditors Harri50n Beale & owe￿ Limiied HighdowD House I l Highdown Ro Sydenham Leamington Warwickshire CV31 IXT Bgnlters C￿0￿ratiVe 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 ADP*llNISTRATIVE 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 Compan￿5 Aci 2(MkS relating to small companics. AprKoved by order of T￿ of on 19 (ktot*r2023 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 a￿1 fair view of lh¢ state of affatrs of the ch8rirable company arwj of the i￿>ming r¢S￿rCeS and applic￿lon 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 inappropri*e io presume the tharitable cornpany will ¢oniinu¢ in t￿SInes& The tnmtts are rewr￿1bl¢ 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'$ a￿J￿I0Ts I￿ unaivart" and Ihe irusiees have taken all Sleps they oughi ID have taken to make thetnselvas aware of any relevant audit inform*ion and to e5tabltsh ihat the auditots a￿ awa￿ of that iDf(m*iw. 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& Bala￿e Sheet. the Cash Flow Siatemeni and note5 to Ihe financial statements. including a summary of significant acC￿n11ng rA)licie5. The finan¢ial framwork that h& been applied in iheir p￿Parall￿ 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 re￿UrCeS 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 Pr￿l¢t. and bav¢ be¢n prepared in accordance with the requiremenLsof tr Companie5 AU 20(kn. B4$is for opSnlon We wndu¢ied our audit in accordance wth lniernation￿ Swjdards on Auditin8 IUKI IISAS (UKI} and applicable law. Our respo*sibilili¢s under ihw standards are further describtd in the Audiiors, resrAJnsibiliiies for ihe audit of th¢ fit)ancial si*¢ments seciion of ow resK)rt. We are inde￿￿￿eThi of ihc charitsble company in acajrdance wilh iht eihicgl reguiremenis thai are relevant to our audit of the finarKial Ma*ments in the UK. inclL4Jing the FRC'5 Ethical Sthndard, and we have fulfilled our oiher tthical re5wnsibililies in attordance with these rt4uiremenlS. We believe that the audit evidence we have taintd 15 5uificient and Appropriaie to provide a bosis foT (xwopiniw. Conelusion5 relating to going concern In audiiing ihe firwicial swernents. we have ¢on¢l￿ed the us¢ of th¢ going eorwn b¥is of ￿luAling in th¢ preparation of the financial swtsn¢nis isoppr(yia Based on ¢he work w¢ have wfomied, we havt not idtniified any M￿c￿￿ uncertainiie5 relllling to evcnts OT conditions ihal, individually or colleciively, may ca51 significani dou￿ on ihe charitsble cwpany's ability to Continue a5 & going for a period of at least twelve months from when Ihe finarKial statements are a￿hOri$¢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 Inform*th) tTUSt¢es are responsible for ihe ol￿r inforrnaiion. The ithforniation comprises the infonn*ion included in the Annual Repor4 other than Ihe financial Statements a￿1 (rtJT of the Ind4xndeni AUdi￿rS 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 fina￿la1 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 Materi￿lY mis5￿1¢d. If we ideniify m*erial 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 Ma￿Tial re5Prti with the fInarK1￿ 5taternent& or Ihe charitable company h&5 rK*i 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 inforn￿l0￿ *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¢syonsibiliti￿thc 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&$8ry io enable the P￿par￿lon of financial siat¢m¢nts that are free from material misst*tnenL whether du¢ ￿ ftaud orerror. In prep8rin8 the fjnancial Statemen￿ the trustees *e reswible for &sstSSi#8 the charitable company's ability to continue as a goin8 concem. disclostn& &$ &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 reasonabletssurknteab0￿￿htthtrtht 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 M￿er•al if. individually or ITh the ag8re8aie. they Could re&%onably bc expected to influence the ecor￿Mi¢ decisions of uscrstaken ￿ the basis of thc5e financial statrrnen The extent to whi¢h our pr￿lUTeS are capable of d￿￿l￿g ]rTegul￿11IC& inclvding fra￿1 i$de￿I&l b¢low: The audit process irtcludes an assessmcnt of the entitgs risk environmeDi thrwgh enquiry of and discussion with management and those ch8Tged with go¥ernanc< including Èn &ssessment of any key laws and regul￿10n5 with which the Ch￿ilable company musl comply in the ordinary course olits business. Addiiiona]ly. theoverall risksof Irregulartran5a￿1on5oCcurrIngart&￿S¢￿fOllo￿ingOurQbStrv9I1O￿styEbdtDMfim)8tioftof the design and impl¢Tn¢nlalion of managem¢nVs controls. Whilst we aT¢ mindfvl of th¢s¢ ris￿ our *dit focus 1$ Beared ￿WardS the risk of ma*ri81 tni5state￿tnf 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 nonlus 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} Tl*se financial s&temffits have been a￿j7*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¢>11￿1¢ io charitable ¢ompanie5 subje¢1 to the small companies regime. The fin0￿¢1814a￿rne￿ts were ar4xoved by the Board of Tru5*e5 and oU￿)rised for iwe on 19 O¢tol*r 2023 and were siglled on its t¢half by: Mr5 V M MoTEan. Tn￿e¢ The no*s fo￿ part of these finarKial 51atements Pa8e 13 IYORTHLEIGH HOUSE SCHOOL LTD CASH FLOW STATEMENT for th¢ ye*r ¢nd¢d 31 Jllty 2023 2023 2022 C4$h flows from optrnting activities C&sh generwed from orKration5 Intere51 paid 374554 (J70} 348.781 {38} Nei c&sh Provided by op￿￿7ng ￿l¥ll1eS 374184 348,743 CA5h flows from investing 8¢tiviti¢s Purch&fe of ianRible fixed assets Interesi rtceived {6&720) 1148,140) 383 Nel cash usd in investing activities {62.456) {147,757) Change in cash And equiv*lents in the r¢porting ptriFyl Cash a￿d tA5h equlvAlents at tbt btglnnlng of ihe rewjrting ￿rIOd 311,728 2(M),986 Jh05231 1,404245 Ca$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 ye*reAded 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#ntl*l Attivitie$) AdJust￿¢￿ts for: Depreciaiion charge5 Los5 w diswsal of fixed &s*ts Inierem received Interest paid Decreasel{inrrcase} in (kbtor5 Increase in crrditor5 276160 231,089 S7￿74 9,066 (42641 J70 &618 29,610 {383) 38 13.3401 91,767 Net C8sh provided by optr*tioTrs 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 I￿￿3)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 B*sk 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 a￿lILIble 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 firw￿la1 sta*ments art sd out below and have ￿rn￿ned 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 re￿rted in the anrtuol ￿)unIS. The estirnates and judgements are bth on hists)Tica] ex￿rienCeS 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 dOn￿lon5 to be recognised the ¢hariry will have been llolified of the amO￿ts 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 d￿e￿1Thed on the b&sis of ihe value of the gift to the chariry. for example the am¢)unl the tharity W￿ld be willing to pay in the orrtn marka for such facililie5 ar¥J 5ffvicc& A (¢)￿¢S￿￿K1)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. F￿htr detsil is given in the Tru51¢eg Annual Report. Interest iTKome is recognised using the effeaive intere* Ta* mdFK*J aNI is wised the charity's righi receive payment 15 e5labl15h￿. This is TK)rmally upon Th)iifi¢a¢ion of the in*r¢# 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&551r￿d under headings Ihai aggreg*e all rela*d io the category. Wh¢re ¢osts tannoi be dirttily attributed to particular h￿lIng5 they havc ken all￿a￿d 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. Ta*gibk fised assets D¢prEciatson is provid￿ * the following annual ra*s 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 4￿on 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 aceumul*ed Impmimi￿l 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 Vnre5tric*d 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 contrib￿lon [Kn5￿￿ xheme. Con¢ributions payable io the charitable compsny's pthsion scheme ￿ charged to th¢ S￿eMen1 of Financrdl Acliviiie5 in the period to which t￿Y relate. Fkngndal instrumthts Loans and borrowings are iniiia]ly recognis*J at ihe wic¢ including msxtion cots Subsequenily, tky are ffle&sured at amortise4 cost using the etTeaiv¢ inLU¢St ￿e m￿h￿J, less impairncnl. tkbtors and t￿dItorS with no 51atcd intere51 Twe aTwJ ￿(eivable or payablc within one year art recorded at tranwiion pri¢¢. Any1055e5arising frthn impairrnent aTf rccogni*J 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 regi*ernl 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 vOLUf￿ARy 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 2￿25 2022 Activity EdUc￿lOn 5ervice5 Fee income IA97505 1,242.557 CHARITABLE ACTIVITIFS COSTS Direct CoAs15ee nole 71 SuprM)rt eosts {see ie8) T￿lS EdUc￿lon 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¢r1￿10nS & 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 EdU￿10n 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 InC￿ne}(eXr￿ndI1Urtl is ststed after(har8inW(credi(ing)'. Z023 2022 Audiior5' Temur￿￿alj0n Deprec1￿10n- owned assets Defi¢it on disposal of fixed assets Payrnents under 0￿ratIng 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 s38￿1 73J64 1&453 616.744 49,793 10,970 929278 677.507 The averd8e monthly numI￿r 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¢ i￿ome 500 383 Tot*1 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 equir*nent 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 Tr*Je 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 Com￿Se5 fee inc￿le have been received in thance ofthe fortlKoming ￿￿leM1¢ yew. 2023 2022 Ba12rKe 0$ at l August 2022 Arnounl released to Ir￿Me eamtd fmm ¢lwithble auivitie5 Arnouni deferred in year J31,620 {331ffi201 347,916 251349 {251349) 331020 Bala￿t 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 f1veye￿5 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 ,728*19 Net movement in furtd% included in ai*)ve ar¢ &$ follows: I￿ornIn Moverncnl in funds ex￿nded 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 aL￿t *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 U￿bil￿d ￿ movement in inclLMlcd in ihe atA)ve are as follows.. Inc(Mni Movement in funds eX￿[￿jed Unrestricted fuTh15 Ger*raJ 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 rArti￿lar PL￿pose& 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 i￿ome 1&139 IA58 34,534 525 12,5(M) 1,338 22J97 48,897 Fund g¢ner*ting activities Fundrdising events Ihv¢$tmertt ineon Deposil accwnt inieresi 383 ChArii*ble 8e1fvl￿es 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 O￿lCe c051S Advertising Sundrie5 Maintenance Moiorand travel costs Food Ga￿ten 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 $￿VIOry fin￿¢￿81 sla￿ents Page 26 NORTHLEICH HOUSE SCHOOL LTD DETAILED STATEMENT OF FINANCIAL AcfiviTILS for the year ended 31 July 2023 2023 2022 Supp)rtt(6ts FIDaty¢¢ Dekyeciation of tamgible fixed assets Loss on sak of ¢angibl¢ fixed assds 571174 29.610 6&140 29,610 Covernlwee ¢o$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[w￿la] ststrm¢MS Pagc 27