Charity number: 1140271 CompAny number: 7378488 Bowel Caneer West (A Company limited by guarantee) Trustees, report and financial statements for the period ended 31 December 2020
Bowel Caneer Wesl (A company limlted by guarantee) Contents P¥Jgt Legal and administratsve infonnation TTUStees' report Independent ¢xamin¢rs' report StÉtement of fitwicial &ctiviti¢8 Balance sheet 9-10 NO to the financial stAt¢m¢nt8 11-17
Boivel Caneer West {A Company limited by guarantee) Reporl of the trustees (incorporating the directors, report) for the period ended 31 Deeember 2020 Charity number 1140271 Company reglstratlon number 7378488 Buslnes$ address and Registered office 12 Col¢brook Road Plympton Plymouth Devon PL7 4AA Direetorslcommittee Mr M Col¢man Chairman Mt J B¢st Mr J Mills Treasurer Mr G Minto (Resigned 14 February 20201 Mr D Darke Ms D Sh¢ppard Mrs H Suffell Mr S Smolor¢k (Resigned 10 February 2020) Mr P Lidder {Appoint¢d l O F¢brY 2020) MES S Col¢man (Appointed 28 FebNary 2020) Mr E Sinclair (Appgint¢d 28 August 2020) A¢countant5 B¢st Accountancy Services (Plymouth) Ltd 12 Colebrook Road Plympton Plymouth Devon PL7 4AA Bankers Natiotyal Westminster Bank plc The trustees present their rcport aJKI the financial ststements for th¢ year ended 31 DeCebe[ 2020. Th¢ trnstees, who are also directors ot Bowel C*Dcer West for the purposes of Company law and who serv¢d during the year and up to the dat¢ of this report are set out on pag¢ l. Page I
Bowel Cancer West {A company limited by guarantee) Report of the trustees {incorporating the directors, rep(Jrt) for the period ended 31 December 2020 Struetsr4 governance #nd management Bowel Cancer Wesi is a r¢gi$r¢d charity. number I 140271 and is constituted under The Cornpantes Aci 2(M)6 as a Private Company Limited by Guarantee and governed by the Articles of Associaiion of Bow¢1 Caneer W¢sL Company number 7378488. The charity was established in 2010 for res¢arch and education in the specialty of bowel cancer, and for developiThg the public awareness of the disease in the west of Engl&t)d. The charity's strap-line Awareness, Resvdrch, Trainitig tries to Capture this. The charity's main al is to iuwrove survival rates of people with bowel ¢attccr in the south west of the UK. Ncw director5 are appoinied by the ¢xisting directors. Retirement of directtrs is by rotation at the Annual General M¢¢ting in acLordan¢e wilh the M¢moralldum and Articles of Association. The Articles of A5$0ciation provides for a mintmum of 3 directors but st]all not be subject ro any maximum. Thc overall responsibiliry for the work of the charity lies with the Board gf Trustees who help shap¢ tILe strategy and approve plans to d¢liv¢r the Charity's aims. Progress is monitored and evaluated at board meetings (every three tnonths) nd. go]ng forward, the board will recelve regular reports fro the Executive Director since his appointmcnt in July 2016. Consideration of project funding. clinical trials, ¢duc&tion and fcllowship grants. fund rAising opporttuJiti¢s and good govemance are all k¢y topi¢s for discussion. A financial statement and stratcgic update is prepared and prcsented to thc Board. Care1 stewardship of the charity's r¢50ur¢¢s is a key element of th¢ m¢cting. All dir¢ctt>rs give their time freely. An ¢xp¢nse claim policy is in place and any payments tllad¢ are shown tljrough the aecounts. Directors are required to disclose all r¢levant interests and register them with the Chair and in accordance with the Articles of Associaiion withdraw from dls1on3 wh¢r¢ a ¢onfii¢l of interest arises. The directors long tcrtn aim is to ensure that membership is well balan¢¢d from a clinic31 and business perspective. Clini¢al r¢presenlation is r¢fle¢ted in thc appoilltmcnt of a colore¢tal surgeon, an art&csthetist and two sensor TLurses. Other skills within thc Board in¢lud¢ a PR and Marketing specialist. r¢tired business leaders an accountarlt and an NHS managem¢nt specialL%t. These appointments are important with local n¢tworkillg and establishment of the charity within the business community. The charity will b¢ 5¢ek new representation on the board to help diversify the range of knowledgc to SucCefullY manage a ¢harity, in particular 50mcone with a strong charity ba¢kOlllld. Risk managemen¢ Research projects are vetted by a sub-committee for appropriateness for funding. Integral to this is a de¢laration of the need for ethical approvY41 and approval from th¢ h05Pltal trust research and development (R) departmellt. Any such studics will require a'5ponsoV which will usually bc th¢ hospital trust. The sponsor th¢ll piovides the iteMnity for the research project although Bowel Cancer West provides the funding forthe rcsearch project it is frce of any contingent liability. Funding will not be rcleased until proof of ethicaVR approval and sponsorship 15 provided by th¢ candidate. The candidate is r¢quired to document and rccord sh approvals and to proYid¢ progress upd&tes to Bowel Can¢¢r West and th¢ Sponsor. Objectives and actfivltles The Directors confirm that they have referr¢d to th¢ guidance eontained in the Charity Commission's gelleral guidance on the public benefit wh¢n r¢viewing the charity's aims and objectives and in planning future a¢tivitics and 5ettillg the grant making policy for the year. PIEe 2
Bowel Cancer West (A company limited by guarantee) Report of the trustees (incorporatlng the direetDrs' report) for the period ended 31 December 2020 Achievements and performance Charit Survival Bow¢1 Cancer West (BCWI is a small charity aiming to incrcase survival rates of bowel cancer in the south west by funding training, rescah and raising awareness of bowel cancer in South west England. In March 2020, a new chi¢f ¢xerutive officeI. Jon Gripton was appointed by the directors. with ambitious plan8 to gr(Trw the reach of the charity. ¢apitalise on the charity's ioih anniversary ye&r, and incrca$£ income. Sadly. weeks aftei his apposThtm¢nt the first national lockdown due to thc con)navirus pandemic was announced by the Governmcnt. Most cyents in 2020 w¢r¢ cancelled. although we were able to organise onc fi]ndraiscr run in September in place of our annual obstacle challenge; and chief fundraiser Vieky Jinks k¢pl the charity afloat with several di8ital catnpai8ns. It r¢mains our intention to work at growing our database of active support¢r$ - a[ to lrnnslate our large number of Facebotsk'likers" intt> financial supporters. Awar¢n¢ss Social media continues to grow with a significant increase it) both followers and general traffic- thAnks lo online work by Vicky Jinks, and due to art award of digital advcrtising from Google. We are now regularly r¢ceiving messages from followerslsupporters via the Facebgok $¢¢ur¢ messaging platforni. The activity on Instagram and Twitter continue to increase at a steady P¢. Research Several reS¢h grants which had been committed to in the previous year were awarded in the fitthncial p¢riod. FIRanci&l review In the 201912020 financial year ndS deploy¢d by the charity{cxcluding governance costs) were £53,565 in the previous 12 months li was £99.970. The funding was split between cbarilable a¢tivity expendiNre of £44.426 and £9.139 on research progranllnes. There were no arenesS or training costs in the period. As with all other charities across th¢ ¢ountry, the Covid-19 pandemic ha5 had a massive impact on the charity and its &bility to g¢nerate donations and hold fvndraising events. With the UK on lock down for many months in thc accounting year this has resulted in net outgoing of funds in the year of £25,495 Thc charity was very unfortunate with the timing of the changeovet of our CEO and as a result was unable to make use of the first filOUgh fa¢ility set up by the UK Government and to ¢Dable payments foT part of the year. Thankfully the Charity does have littl¢ ongoing overheads other than th¢ salaries of its two employees. At the end of 2020 we unf¢tt¢r¢d cash reserves of £13.808. We are hopeful that with the roll out of vaccines in 2021 a full programme of ev¢nts can be established. and we cart once again mak¢ some ground back with the organisation's llds. Certainly the popular obstacle race is a major highlight and one which wc hope will go ahead in Septemb¢r. Appreciation is given to the CEO and our fundraiser for stickillgy with us through thi5 ¢Xtrem¢ly tough and wonying period. Page 3
Bowel Caneer West (A Company limited by guarantee) Report of the trustees (incorporating the directors, report) for the period ended 31 December 2020 Pl4n5 for future periods Followin¥ a reasonably SceSsl 2019 for BCW, we entered 2020 with a good l¢vel of r¢s¢rvcs, which helped us survive the pandemic. We remain at the n]er¢y of th¢ wronaviws- bu¢ have several large ev¢nts planned for the second hall- of 2021. with a ho of r¢turning ro active ndsing. We hope to extend the Charity's remit- ndIng research, awarcness and training- to also providing a l¢v¢l of Care for thos¢ diagnosed with bowel ¢ancer in South West hospitals. We have recently partnered with the Re-Fuel motoring organisation, who have designatcd BCW thcir otTieial charity beTLeficiary for 202112. And w¢ ar¢ also to b¢llefit from being an offi¢ial ¢lwity for the newly elected Mayor of Plymout Councillor Terri B¢¢r. We will continue to cnsure high l¢v¢ls of governance and adapt to changing regulatory environments. Statement of trustees, responsiblilties The tTUStc¢s (who are algo directors of Bowel Canc¢r West forthe purpose of company law) ar¢ r¢sponsible for preparing the Trust¢¢s' Annual Report and the fituncial statements in accordance with appli¢abl¢ law al United Kingdom Generally Accepied Accounting Pr¥tice. Company law requires the $t¢¢$ to prepare financial statements for each financial year which giY¢ a tnle and fair view of th¢ 5tat¢ of affairs of the charitable company and of the incoming resource5 and application of resources, including the incotn¢ and exp¢ndithre, of the ehariiable company for that period. In preparing these final]1 stateinent5, the trustees ar¢ requir¢d to.. -5el¢¢t suitable accounting policies and th¢ll apply them consistently; -observe the methods and principles in the Charities SORP. -mak¢ judg¢m¢nts and estitnaies that ar¢ r¢asonable and prudent- -state wheiher applicable UK Accounting Standards have beell followed, subject to any material departures disclosed and cxplained in the financial statements- and -prcpare the financial stat¢m¢nts on the going concern basis unl¢ss it is inappropriate to pre5Ulll¢ that the charitable company will continue in opcration. Th¢ trustees are responsible for keeping propcr accounting rccords which disclose with reasonable accuracy at any time the financial position of Ibe Charitable company and wllicb enable Them lo ensure that the financial stalements comply with the Companies Act 2006. Th¢y are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable stcps far the prevention and detection of fraud and other irregularities. Pagt 4
Bowel Caneer West (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the period ended 31 Dee¢mber 2020 Small company pro$10% These finatscial stat¢ments have been prepar in accordance with FRS 102 th¢ Financial Reportillg Standgsd appli¢&bl¢ in ihe UK and Republi¢ of Ireland. OTh b¢half of the board Mr John Best Honorary Tre#sur¢r Page 5
Bowel Cancer West (A company limited by guarantee) Independent examiner's report to the trustees on the unaudited financial Statements of Bowel Cancer West. We rrport on the accounts of Bowel Cancer West for the year ended 31 December 2020 sct out on pag¢s 2 to 17. Respective respDn5ibilltfies of trustees and independent examlner As the charity's trnstees you are respoiisible for the preparation of th¢ aecounis. you consider that an audit Is not required for this year under section 144121 of th¢ Chatilies Act 2011 (the 2011 Act) ad that an independcnt examination is ne¢d¢d. It is our rcsponsibility to.. examine the acctsunts under section 145 of the 2011 Aet to follow th¢ pr(Trcedures laid down in the General Dir¢ctiOnS given by the Charity Commission under section 145151(b) of the 2011 Act and to state whether particular matters hav¢ com¢ to oiir &tteniion Ba$1$ of independent examlner's statement Our examination was carried out in ac¢ordan¢¢ with the General Directions giyen by the Charity Commission. An erdmination includes a review of the accounting records kcpt by the charity and a comparis(Trn of the accounts presented with those records. It also in¢lude5 consideration of any unusual itcms or disclosures in th¢ a¢ctsunts and sccking explaD2tions from you as trustces coneeming any such matters. Th¢ procedures undertaken do not provide all the evid¢nce that would be required in an audit and consequently no opinion is given as to whether the accounts present a ru¢ atsd ft4ir view and th¢ report i5 lilnited to those matters set out in the statement below. Independent examiner's statement In CODne¢lion with my examinatioN no matter has come to my attention.. (i) which gives us reasonable cause to believe that in any material r¢spwt the requirements.. to kcep proper accounting records in accvrdance with section 130 of the 2011 Act- and to prepare accounts which accord with thc aeeounting records and to comply with the accountingrequirements ofthe2011 Act have not been met,. or (li) to which. in our opiniotL attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr Chris Jones FMAAT On behalf of Best Aecountgncy Services {Newton Abbot) Ltd Lif en$ed And regulated by the Association of Aeeounting Technicig113 Independent ex4mln¢r Page 6
Bowel Cancer West (A company limited by guarantee) Statement of financiAI activities (incorporating the income and expenditure account) For the period ended 31 December 2020 Unr¢5tricted 2020 2019 nds Total Note¥ Incoming resources Incoining resource5 froin g¢neraiing nds. Voluntary incom¢ 31,829 3 1,829 98,704 InVeIllen1 incoinc 26 Total in¢oming r¢sour¢¢s 31,834 31,834 98,730 Resources expended Charitable aciiNili¢s 53.565 53,565 99,996 ov¢rnance cosis 3,764 3,764 lo,10 Total resourtes expended 57,329 57,329 110,056 Net incomingl(outgoing) resources for the Ye I Net incomel(expenditure) for the year (25.495) {25.495) (11,326) Total thnds broughi forward 39,30.3 50,629 Total funds carried forward 13,808 13.808 39,303 The notes OD pages 13 to J9 fonn Integrnl part of ¢hese fininciAI Jt*¢emcttt$. Page 7
Bowel Cancer West (A company limited by guarnntee) Bg41ance sheet as at 31 December 2020 2020 2019 Notej Filed assets Tanble assets io 6.37 926 Current assets li 683 297 Cath at bank and in IHnd 17,308 47.627 47,924 Creditors: amounts falling due within one year 12 4.820 (9,547) Net ¢urrent assets 38,377 Net assets 13.808 Funds 14 UnKqtrided generdl funds 13,808 39,303 Totsl funds 13,808 39,303 The Balance Shed ntinueS on the folloiving page. The noles on 13 to 19 fom Its inlegrAI part of these financi#l s¢&tement& PAge 8
Bowel CAneer West (A Company limited by guarantee) Balance sheet (continued) Directors slatemenls required by ihe Companies Aet 2006 for the yeydr ended 31 December 2020 In approving th¢s¢ fllwiciai al¢lents as director5 of the company we hereby confirni.. (a) that for ihe year stated aEove ihc company was entitled to the ¢x¢mption conferred by section 477 of the Coinpanics Act 21J)6 . (b) th81 no nolice has iKcn dcpM)sitLYl at the re¥iSter1 office of the compgny PUTsuant to section 476 of the Companics Act 2006 requesting that a111 be conducted for Ihe yr ¢ndol 3 1 D¢cemb¢r 2020. {¢) U)at we acknowledge our responsibiliti¢s for.. (i) cnsuring thai th¢ MpanY k¢¢ps prOr accounting rccords which comply with s¢clion 386 of the Companies Ath 26, (li) prepIllg financial ttIn¢ntS whicli give a In and fair view of th¢ stat¢ of affairs of the company as at the end of the financial year and of ils piofit or Ios5 for Ilic ycar then ended in aordanCe with the r¢quirem¢nt5 of sKtions 394 and 395, and M,lucli ouierwise coinply with the provisions of the Comwiies Act r¢latin¥ to fillancial statements, w faT as applicable lo di¢ coinpany. Th¢ fllun¢A¢il siai¢in¢nts were approved by the Ih)ard on and siw)¢d on its behalf by Mr M Coleman Director Page 9
Bowel Cancer West (A company limited by guarantee) Notes lo the financial statements for the period ended 31 December 2020 Aceounting policies The prAn¢kpa] accounting }liCieS are summarised 10. The accounling policies have Ixen applied consisiendy throughout tlle year and the prec¢ding year. Basis of accounting Th¢ financial siat¢menls have pRpared in cordaI¢ with AlitIng a[ R¢wrting by Charities Stalemenl of RcGominended Practice applicable lo charities prep4ring their accounts in accordance wiu) the Fi1&4n¢ial Rewrling Stanthrd applicable in tile UK and Republic of Irela[ (FRS IU2) (effectivc l January 20 I l) - (Clntic SORP IFRS 1021), the Financial Reporting Standard applicable in tlie UK and Republic of Ir¢land IFRS 102) and th¢ Coinpanies A 2006. Bowel Cancer W1 meets die deflnilion of a public bencfit cntitv under FRS 102. Thc Intstees consider tliat th¢r¢ are no material uncertainties the chIty's ability to conlinue as a going conccm. Thc Cliarity's funciional and pre5enlatiOAkql currency is th¢ pound sterling. Incoming resources All incoming regourtts are included in tl)e statemcnt of financial activities whcn the charity, is entided io the incoine and the ainouiit ck]n be quantified with reasonable accura. Tli¢ following sFtrific policies are applied to panicular categori¢s of incoine.. - Voluary in¢ome is [C1VedbY way of donations a1 ti5 and is included in 11 in thc Stateinenl of Financii?l Activities whcn reeeivable. Donated s¢rvices and facilitics 8Te included at the value lo tlie clwity wli¢r¢ this &2n be quantified. The valu¢ of services priJvid¢d by volunte¢r5 has noi been included in ihcse accounts. Investment income is Iluded wlien receivable. 1.3. Resources expended Expenditure is rccognis¢d on accrudl basis as a liability is in¢u¢d. Expendiiurc indudes any V AT which cannoi bc fully r¢cov¢red, and is r¢ported as part of th¢ expendilure to which il relaies. Costs of gencting fimds compnse the Costs a&wiated with attracling voluntary incoine and tlie cosig of tr¥#ling for fundraising purposes including tlie charity's sliop. Charitsble expenth.iure coinprises lllose cost5 ]nwr[ by ilie cliarity in ie delivery of its aclivities and 5¢rvices for it5 bcn¢ficiaries. It includcs both costs ihat can be all(ated th"rectly lo sucl) acliTriti¢s and t1105e costs of an indirect nature nettssary to support th¢in. Governance cost5 incliidc tliosc costs associated with meeting the consutiOnal and statutori, rcquir¢incnts of tlic cl)arily and include the Costs linked to th¢ strategic managemcnl of the charity. Page 10
Bowel Cancer West (A company limited by guarantee) Notes to the financial statements for the period ended 31 December 2020 Tangible fixed assets 2nd depreeiatlon Tangible fixed assets are stated at cost les5 accuUlated d¢preciation. Depreciation is provided at ratcs calcula¢ed to writ¢ vff the ¢ost1¢55 r¢sidual value of each asset over its expect u5¢ful lifc, as follows: Fixtures, fittings and equipment 25Q/o of n¢t book valu¢ per annum 1.5. Investment Pollcy The income is h¢ld in a new business current account a[ busin¢5s reserve account with Natwest Bank. A decision was taken in the year to Irat)sfer from Barclay5 to Natwest duc to bank access in the area. All transactions and business costs are free of cbarge and ther¢ is no inteTQSt paid on the account balancc. Detlned contribution pension schemes The pension costs charged in the financial 5tat¢tnents represent the contribution payttble by thc company during the year. 2. VoluntAry ittcome 211211 2019 Tot*1 Total Onlinc Just Giving 8,054 29,818 Donations 7,897 8,006 Fundraising 11,863 9,044 Collection titLs 514 Events 4,007 51,322 31,829 98,704 Page 11
Bowel Caneer West (A company Ilmited by guarantee) Iyotes to the financial ststements for the period ended 31 December 2020 3. Investment ineom¢ 2020 2019 To1 Tot*1 Bank interest receivable 26 26 4. Governance costs 21120 21119 Totsl Totsl Ac¢ountan¢y alld payroll fees 1,266 ,296 Profession41 fees BCW AdministrFdtion 1,238 7,482 Public liability insurance 444 636 Pension charges 180 225 BaDk and Paypal charges {37) D¢preciation 289 421 3.764 10,060 5. Net outgoing resources for the year 2(120 2019 Net outgoing resources is stated after charging.. D¢PrlatiOn and other amounts written off tangibl¢ fix¢d as5¢t$ 289 421 P4ge 12
Bowel Cancer West (A company limited by gu&rAntee) Notes to the financial statements for the period ended 31 December 2020 Employees Employment costs 2020 2019 Wa8¢5 and salari¢s 41,455 59,506 P¢Dsion costs )9 1,853 42,364 61,359 No ¢thploy¢¢ r¢c¢ivcd cjnolwnws of Jnor¢ than £60,000 (2019 .. Noncl. Pa2e 13
Bowel Cancer West (A company limited by guarantee) Notes to the financial statements for the period ended 31 December 2020 Number of employtts The average inonthly numbers of ¢mploy¢¢s (including the trn$t5) dwing die year. calculalcd on the basis of full lim¢ ¢quivalents, was as follows.. 2020 2019 N¥mber Number 12 10 Pension c05t$ The company op¢rates a defined contribution pension s£licme in rcsw of the cinploy¢e. The scheme at]d ils assets arc held by indendent mand. gers. The lsiOn charge represents contribuiions due from tlie company ond amounted to £W9 (2019 - £1,853). 2020 2019 Pension charge 909 T Axation The ¢harity's activitie5 fall within ilic exemptions afforded by Ihc provisions of ilie Income and Corwjraiion Taxes Act 1988. Arcordingly. there is taxation charge in t17 acthints. Page 14
Bowel Cancer West (A company limited by guarantee) Notes to the financlal statements for the period ended 31 December 2020 Flx¢ures, io. TAngible fixed assets rittirtgs and equipment Total Cosl At l January 2020 and At 31 December 2020 4,938 4,938 Depreciation At l January 2020 4,012 4.012 Charge for thc year 289 289 At 31 December 2020 4,301 4.301 Net book values At 31 December 2020 637 637 At 31 December 2019 926 926 11.Debtors 2020 2019 Other debtors 477 PrepaymeThts 206 297 683 297 Page 15
Bowel Caneer West (A company limited by guarantee) Notes to the financial statements for the perlod ended 31 December 2020 Creditors: 4mounts falling due within one year 2020 2019 Trade creditors 430 812 Other taxes and soci&l sccurity 3,432 2.827 Oth¢r creditors 238 3.463 Accruals and deferred income 720 2,445 4.820 9,547 13. Analysls of net assets behveen funds Unrestricted Total funds funds Fund be4lances at 31 D¢¢ember 2020 as repres¢nt¢d by.. Tangible fixed assets 637 637 Curr¢nt assets 17,991 17,991 Current liabilities 14,8201 {4.820) 13,808 13,808 14. Unrestricted fund$ At At I JAnu*ry Incomlng Out¥oln¥ 31 December 20211 resouTCe$ rewurces 2020 Gen¢ral Funds 39,303 31.834 157,329) 13.808 P4ge 16
Bowel Cancer West (A company limited by guarantee) Notes to the ffftancial statement5 for the perlod ended 31 December 2020 Is. Contlngent Ilabllltles There were no contingent liabilities al the balance sh¢et dale. Page 17
Bowel Cancer West (A company limited by guarantee) The following pages do not form part of the statutory accounts.
Bowel Cancer West (A company limited by guarantee) 2020 2019 In¢oming resources Volunt41ry income Onlin¢ Just Giving ,054 29,818 Donations 7,897 8,006 Fundraising 11,863 9,044 Collection tins 514 Evcnt$ 4,007 51.322 31,829 98,704 2020 21119 Inveslrnenl income B#t& illtert receivable 26 26 Total incoming resouree$ 31,834 98,730
Bowel Cancer West (A company limited by guarantee) Charitable 4¢ilvitles Aetivlty I A¢Èivities t4nderlakert dire¢dy Research projecLS 9.139 24.643 Wages and salaries 41,455 59,506 Pension costs 909 1.853 Accommodation and 5ubsistenee Onlin¢ Just Giving f¢e5 398 702 Promotiotydl and mark¢ting 220 2,474 Wcbsite 354 410 Event costs 1,090 10.408 53,565 99,996 Total Charitable Activity expendituY¢ 53.565 99.970 Govern*nee costs AcÈivities underfakEn diretily Ac¢oulltancy and pa011 fe¢5 1,266 .296 Professional fees 384 BCW Administration 1.238 7,482 Public liability insurance 444 636 Pension charges 180 225 Bank and Paypal charges (37) Depreciation 289 421 3,764 10,060 Total governance costs 3,764 10.060 Net (ou¢going}lincoming resources for the year {25.4951 111,326)