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2020-03-31-accounts

THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Charity No. 1139822

.

Company No. 07136075

Trustees' Report and Unaudited Accounts

314 March 2020

THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Contents

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||||||| |---|---|---|---|---|---| |Pages| |Trustees’|Annual|Report|2to3| |Independent|Examiner's|Report|4| |Statement|of Financial|Activities|5| |Summary Income and|Expenditure Account|6| |Balance Sheet|7| |Statement|of Cash flows|8| |Notes to the Accounts|9to|15| |Detailed|Statement|of Financial|Activities|16 to|17|

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

.

Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07136075

Charity No. 1139822

Principal Office

53 Chatham Street London

SE17 1PA

;

Registered Office

53 Chatham Street,

London SE17 1PA

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Dabaye BOB-Manuel ,

Olawale Enoch Ajibola Sam Badejo

Directors of Corporate Trustees

Mr Samson Badejo Mr Dabaye L.Bob-Manuel Mr Olawale Enoch Ajibola Dr Moses M.Qsebor Mrs Ukachi Bawo Dr Ephraim F.Faloughi Dr Napoleon Emuchay Trustee Trustee Trustee Trustee Trustee Trustee Trustee

Accountants

Charles Luf & Co 11 Pearson Street Shoreditch E2 8JD

Bankers HSBC

OBJECTIVES AND ACTIVITIES

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Trustees Annual Report

Advice, Counselling and Church Ministry within the community and abroad The principal activity of the charity is the proclamation of the gospel of Jesus Christ and to advance the Christian doctrine of our belief In the United Kingdom as the trustees think fit. To relieve sickness and financial hardship and to promote good health by provision of funds, goods and services of any kind. The Church activities is to provide regular prayer services throughout the year, including provision of counselling, education and support in United Kingdom or in the world as the trustees think fit.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalfefthe board

Sam Badejo Trustee 31 March 2020

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

independent Examiners Report

Independent Examiner's Report to the trustees of THE ETERNAL SACRED ORDER OF CHERUBIM &

SERAPHIM UK PROVINCE LTD

| report to the charity trustees on my examination of the accounts of THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD for the year ended 31 March 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act.

Independent examiner's statement

| have completed my examination. | can confirm that no material matters have come to my attention in

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Statement of Financial Activities

for the year ended 31 March 2020

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricte|Restricted| |d|funds|funds|Totalfunds|Total|funds| |2020|2020|2020|2019| |Notes|£|£|£|£| |Income|and|endowments| |from:| |Donations|and|legacies|4|88,973|-|88,973|252,590| |‘Charitable|activities|5|4,040|-|4,040|-| |Investments|6|42|-|42|28| |Other|7|51,581|-|51,581|58,575| |Total.|144,636|-|144,636|311,193| |Expenditure|on:| |Other|8|96,052|-|96,052|96,445| |Total|96,052|-|96,052|96,445| |Net|gains|on|investments|-|-|-|.| |Net income|9|48,584|-|48,584|214,748| |Transfers|between|funds|-|-|-|-| |Net|[income]|befberore 0ther|48,584|-|48,584|214,748| |gains/(losses)| |Other gains|and|losses| |Net movement|in funds|48,584|-|48,584|214,748| |Reconciliation|of funds:| |Total funds|brought forward|1,350,387|122,397|1,472,784|1,258,036| |Total funds carried forward|1,398,971|122,397|1,521,368|1,472,784|©|

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD Summary Income and Expenditure Account

for the year ended.31 March 2020

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||||| |---|---|---|---| |2020|2019| |£|£| |Income|144,594|311,165| |{Interest and investment|income|42|28| |Gross income|for the year|144,636|311,193| |Expenditure|51,155|45,585| |Depreciation|and|charges for| |impairment of fixed assets|44,897|50,860| |Total expenditure for the year|96,052|96,445| |Net income|before tax for the year|48,584|214,748| |Net income|for the year|48,584|214,748|

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Balance Sheet

at 31 March 2020

Company No. 07136075 Notes 2020 2019
£ £
Fixed assets
Tangible assets 11) 1,396,545 1,325,379
1,396,545 1,325,379
Current assets
Debtors 12 25,104 -
Cash at bank.and in hand 124,823 180,780
149,927 180,780
Creditors: Amountfalling duewithin oneyear 13 - (2,501)
Netcurrentassets 149,927 178,279
Totalassets less current liabilities 1,546,472 1,503,658
Creditors:Amounts fallingdue aftermorethan oneyear 14 (25,104) (30,874)
Netassets excluding pension asset or liability 1,521,368 1,472,784
Total net assets 1,521,368 1,472,784
The funds ofthe charity
Restricted funds 15
Restricted incomefunds 122,397 122,397
122,397 122,397
Unrestricted funds 15
Generalfunds 1,398,971 1,350,387
1,398,971 1,350,387
Reserves 15
Totalfunds 1,521,368 1,472,784

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit In accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 March 2020

And signed on its behalf by: Olawafe(heEnoch Ajibola Trustee . 31 March 2020

THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Statement of Cash flows

for the year ended 31 March 2020

2020 2019
£ £
Cash flows from operating activities
NetincomeperStatementofFinancial Activities 48,584 214,748
Adjustments for:
Depreciation of property, plantand equipment
Dividends, interestand rentsfrom investments
44,897
(51,623)
50,860
(58,603}
(increase)/Decrease intrade and otherreceivables
(Decrease)/Increase Intrade and other payables
(25,104)
(8,271)
31,920
32,024
Netcash provided byoperating activities 8,483 270,949
Cash flows from investing activities
Paymentsforproperty, plantandequipment
Dividends, interestand rentsfrom Investments
(116,063)
51,623
-
58,603
Netcash (usedin)/frominvestingactivities (64,440} 58,603
Netcash fromfinancing activities - ; -
Net(decrease)/increase incashandcash equivalents (55,957) 329,552
Cashand cashequivalents atthebeginningoftheyear 180,780 53,464
Cashandcashequivalentsattheend oftheyear 124,823 383,016
Components ofcashandcash equivalents
Cash and bankbalances
124,823 . 180,780
124,823 180,780

THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

for the year ended 31 March 2020

Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) and the Companies Act 2006. ,

Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made'to accounts for previous years.

Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds | These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. ; Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. , Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts _ gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. ‘ assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Gf

THE ETERNAL SACRED ORDER OF CHERUBEM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Expenditure| |Recognition|of|Expenditure|is|recognised|on|an|accruals|basis.|Expenditure|includes|any VAT which| |expenditure|cannot be fully recovered, and|is|reported|as part of the expenditure to which|it| |relates.| |Expenditure on|These|comprise the costs|associated|with|attracting|voluntary|income, fundraising| |raising funds|trading costs|and|investment|management|costs.| |Expenditure|on|These comprise the costs|incurred|by the Charity|in the|delivery|of|its|activities|and| |charitable|activities|services|in the furtherance|of its|objects,|including the|making|of grants|and| |governance|costs.| |Grants|payable|All grant expenditure|is accounted|for on an actual|paid|basis|plus|an|accrual for| |grants that have|been approved|by the trustees|at the|end|of the year|but|not yet| |paid.| |Governance|costs|These|include those|costs|associated|with|meeting the constitutional|and|statutory| |requirements|of the|Charity,|including any audit/independent examination|fees,| |costs|linked|to the|strategic management|of the|Charity,|together with|a|share|of| |other|administration|costs.| |Other expenditure|These|are support|cosis|not allocated to a|particular|activity.|

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TaxationThe charity is exempt from corporation tax on its charitable activities. —

Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Intangible fixed assets and amortisation Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Inthe statement of financial position, bank overdrafts are shown within borrowings or current liabilities. in the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are narmally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified

as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are ‘capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense ona straight-line basis over the lease term. in the event that lease incentives are received to enter into operating leases, such incentives are recogiised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

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|||||||| |---|---|---|---|---|---|---| |3|Statement|of|Financial|Activities|-|prior year| |Unrestricted|Restricted| |funds|funds|Total|funds| |2019|2019|2019| |£|£|£| |Income|and|endowments|from:| |Donations and|legacies|252,590|-|252,590| |Investments|28|-|28| |Other|58,575|-|58,575| |Total|311,193|-|311,193| |Expenditure|on:| |Other|,|96,445|-|96,445| |Total|.|96,445|-|96,445| |Net income|214,748|-|214,748| |Netrineincome|before other|214,748|-|214,748| |gains/(losses}|:| |Other|gains|and|losses:| |Net movement|in funds|214,748|-|214,748| |Reconciliation|of funds:| |Total funds|brought forward|1,135,639|122,397|1,258,036| |Total funds carried forward|1,350,387|122,397|1,472,784| |4|Income|from|donations|and|legacies| |Unrestricted|Total|Total| |2020|2019| |£|£|£| |Donations,|Thithes,|88,973|88,973|252,590| |Offerings,|Gift|Aid| |88,973|88,973|252,590| |5|Income|from|charitable|activities| |Unrestricted|Total|Total| |2020|2049| |£|£|£| |4,040|4,040|-| |4,040|4,040|-| |SL bride|

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

6 {ncome from investments

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Total|-|Total| |:|2020|2019| |£|£|£| |42|42|28| |42|42|28| |7|Other|income| |Unrestricted|Total|Total| |2020|2019| |£|£|£| |51,581|51,581|58,575| |8|Other|expenditure| |Unrestricted|Total|Total| |2020|2019| |£|£|£| |Motor and|travel|costs|3,262|3,262|14,445| |Premises|costs|36,900|36,900|25,574| |Amortisation,|depreciation,| |impairment,|profit/loss|on|44,897|44,897|50,860| |disposal|of fixed|assets| |General|administrative|costs|9,693|9,693|4,266| |Legal|and|professional|costs|1,300|1,300|1,300| |9|Net|income|before transfers| |2020|2019| |This|is|stated|after charging:|£|£| |Depreciation|of owned|fixed|assets|(5,963)|50,860| |Depreciation|of assets|held|under finance|50,860|-| |leases|and|hire|purchase|contracts| |independent|Examiner's|fee|1,300|-| |10|Staff|costs| |No|employee|received|emoluments|in|excess|of £60,000.|

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Notes to the Accounts

11 Tangible fixed assets
Landand Plant& Fixture& Total
buildings Machinery Fittings
£ £ £ £ £
Cost or revaluation
At 1April2019 1,139,435 376,035 - 161,486 1,676,956
Additions
At31 March 2020
116,063
1,255,498
-
376,035
-
-
-
161,486
116,063
1,793,019
Depreciation and
impairment
At 1April 2019
- 194,389 - 157,188 351,577
Depreciation chargeforthe ; 17,938 _ 26,959 44,897
year
At31 March2020
- 212,327 - 184,147 396,474
Net book values
At31 March2020 1,255,498 163,708 - (22,661) 1,396,545
At31 March2019 1,139,435 181,646 - 4,298 1,325,379
12 Debtors 2020 2019
£ £
Trade debtors 25,104 -
25,104 -
13 Creditors:
amounts falling due within oneyear year 2020 2019
£ £
Othercreditors
Accrualsanddeferred
income -
-
-
LI
2,500
2,501
14 Creditors:
amountsfallingdue aftermorethan thanoneyear 2020 2019
£ £
:
Other creditors 25,104
25,104
30,874
30,874

[4

THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD Notes to the Accounts

,

;

15 Movement in funds

Incoming
resources At31
AtiApril (including
.
other
gains/losses
Resources
expended
March
2020
2019 }
£ £ £
Restricted funds:
Restricted income funds:
122,397 - - 122,397
Total 122,397 - - 122,397
Unrestricted funds:
Generalfunds 1,350,387 144,636 (96,052) 1,398,971
Revaluation Reserves:
Total funds 1,472,784 144,636 (96,052) 1,521,368
16 Analysis ofnet assets between funds
Unrestricted
funds
Restricted
funds
Total
one
£ £ £
Fixed assets 1,396,545 - 1,396,545
Net current assets 124,823 25,104 149,927
Creditors due in more than one
real
provisions
y yearand (25,104) - (25,104)
1,496,264 25,104 1,521,368
17 Reconciliation ofnetdebt
New At 31
At 1 April HP/Finance March
2019 Cash flows leases 2020
£ £ £ £
Cash and cash equivalents 180,780 (55,957) 124,823
180,780 (55,957) - 124,823
Net debt 180,780 (55,957) - 124,823
18 Related party disclosures
Controllingparty

The company is limited by guarantee and has no share capital; thus no single party controls the company.

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THE ETERNALSACREDORDEROFCHERUBIM &SERAPHIM UK PROVINCE LTD THE ETERNALSACREDORDEROFCHERUBIM &SERAPHIM UK PROVINCE LTD THE ETERNALSACREDORDEROFCHERUBIM &SERAPHIM UK PROVINCE LTD
Detailed Statementof Financial Activities
forthe yearended 31 March 2020
Unrestricted ;
funds Totalfunds Total funds
2020 2020 2019
£ £ £
income and endowments from:
Donations and legacies
Donations, Thithes, Offerings, Gift 88,973 88,973 252,590
Aid 88,973. «88,973. «252,590
Charitable activities
, 4,040 4,040 -
4,040 4,040 -
Investments
42 42 28
42 42 28
Other
51,581 51,581 58,575
51,581 51,581 58,575
Totalincomeandendowments 144,636 144,636 311,193
Expenditure on:
Motor and travel costs :
Vehicles - Fuel 310 310 -
Vehicles ~Repairsand
maintenance
2,000 2,000 - ;
Traveland subsistence 952 952 14,445
3,262 3,262 14,445
ne
Premises costs
Rent 9,934 9,984 300
Light, heatand power
Premises insurances
22,318
4,372
22,318
4,372
20,434
4,340
Other premises costs , 226
36,900
226
36,900
500
25,574
General administrative costs,
including depreciation and , .
amortisation
Depreciation ofPlant & 7 : :
Machinery
Depreciation ofFixture & Fittings
Depreciationof
Bankcharges
-
44,897
611
-
44,897
611
-
50,860
967
Equipment repairs and 4,852 4,852 ;
maintenance
information and publications 550 550 -
Postageandcouriers 270 270 -

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THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD

Detailed Statement of Financial Activities

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||||||||| |---|---|---|---|---|---|---|---| |Stationery|and|printing|155|155|489| |Subscriptions|637|637|228| |Sundry expenses|1,483|1,483|1,440| |Telephone,|fax|and|broadband|1,135|1,135|°|1,142| |54,590|54,590|55,126| |Legal|and|professional|costs| |Accountancy|and|bookkeeping|1,300|1,300|1,300| |1,300|1,300|1,300| |——O—=€EVUV_—=_| |Total|of expenditure of other costs|96,052|96,052|96,445| |Total expenditure|,|96,052|96,052|96,445| |Net|gains|on|investments|-|-|-| |Net|.income|48,584|48,584|214,748| |Net income before other|48,584|48,584|214,748| |gains/(losses)| |Other|Gains|-|-|-| |Net movement|in funds|48,584|-|48,584|214,748.| |Reconciliation|of funds:| |Total funds|brought forward|1,350,387|122,397|-|1,472,784|1,258,036| |Total|funds|carried forward|1,398,974|122,397|-|1,521,368|1,472,784|

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