**REGISTERED COMPANY NUMBER: 04016718 (England and Wales) REGISTERED CHARITY NUMBER: 1148009** **Report of the Trustees and Financial Statements for the Year Ended 31 August 2020 for** **Westfield Community Development Association** Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU **Westfield Community Development Association** **Report of the Trustees for the Year Ended 31 August 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 04016718 (England and Wales) ## **Registered Charity number** 1148009 ## **Registered office** Westfield Community Centre Rosemary Way Hinckley Leicestershire LE10 0LN ## **Trustees** N M Thornber D R Peake P M Adams M A Hateley W A Smith Trustee ## **Company Secretary** M A Hateley ## **Independent examiner** David Preston Chartered Certified Accountant Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Recruitment and appointment of new trustees** Where appropriate Trustees are drawn from the Association's membership, appointed or reappointed at the annual general meeting of the Association's membership and/or from time to time co-opted by the board of Trustees. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Page 1 **Westfield Community Development Association** ## **Report of the Trustees for the Year Ended 31 August 2020** ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity aims to benefit the residents of Hinckley & Bosworth Borough Council area and the neighbourhood, without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. In furtherance of its charitable objectives but not otherwise, the trustees shall have the powers to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. Association seeks to deliver a life-long community education curriculum which involves working with and delivering a broad range of services to Pre-school children and their families and carers, school age children their families and carers, young people and adults. The Association does this in a variety of ways providing some services directly and others in partnership with local voluntary or statutory organisations. ## **STRATEGIC REPORT** ## **Achievement and performance** The Association Continues to successfully combine efficient business planning of its traded services and a comprehensive fund raising strategy involving appeals to national and local charitable trusts as well as tapping into local authority small grants to fund specific areas of work with the elderly and disabled. ## **FINANCIAL REVIEW** During the last 12 months The Association has continued to develop and roll out a sustainability plan aimed at improving financial performance and securing healthy budget surpluses in the coming years. However, the advent of the Covid 19 crisis presented an unprecedented and immediate challenge to the financial welcoming of the Association and a significant threat to the services we provide. During the 6th month of the accounting period, most of our traded services were curtailed or closed as many of our traditional client groups were instructed to socially isolate. We were initially requested to keep our childcare services open for children of NHS and key workers. With small grants from the local authority and a few local trusts we were quickly able to repurpose many of our day care services and take them out to the client groups rather than bring the clients in. An energetic fundraising strategy and recruitment of a team of Covid 19 support volunteers, meant we were able to tap into a number of national and local Covid 19 support funds. Simultaneously we were able to tap into local and national government financial support to offset our traded services losses. At the time of writing, we are planning our emergence from Covid lockdown restrictions and are confident that the commitment shown by staff, volunteers and trustees throughout the emergency has left us in a position where we will be able to steadily build back our services, create new ones and maybe deliver existing ones in a new post Covid way. Early identification of future financial risks to services have resulted in the Association securing Central and Local government Support for the business and charitable sector during the Covid 19 crisis and grants and a CBIL loan have been applied for and received. Contingency plans are already formulated to sustain the staffing and premises infrastructure during an extended lockdown period. The Association remains confident that a return to normal levels of service delivery and trading can be achieved going forward. The fiscal and social capital made by Volunteers who give their time and expertise to support the Association's programmes, or repair and maintain the Association's Premises continues to make a significant contribution to our financial stability and sustainability. The Association has policy and a development plan aimed at achieving reserve funds equivalent to three months operating costs, and is working consistently towards this end. The Association has fixed assets valued in excess of £800,000. Page 2 **Westfield Community Development Association** ## **Report of the Trustees for the Year Ended 31 August 2020** As part of its' sustainability plan the Association has developed and continues to roll out a five year business sustainability plan, which involves restructuring a number of its services to improve income generation over the next five years and recruiting and appointing new trustees to the board. Business and community development plans are reviewed on a regular basis to ensure that the Association continues to deliver its core mission and vision within the context of its charitable Aims and Objectives. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 17 May 2021 and signed on the board's behalf by: P M Adams - Trustee Page 3 **Westfield Community Development Association** ## **Statement of Financial Activities for the Year Ended 31 August 2020** |**Year Ended**
**31.8.20**
**Unrestricted**
**fund**
Notes
**£**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
2
**253,542**
Activities for generating funds
3
**285,502**
**Total incoming resources**
**539,044**
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
**453**
Fundraising trading: cost of goods sold and other
costs
4
**44,447**
**Governance costs**
5
**3,817**
**Other resources expended**
**471,723**
**Total resources expended**
**520,440**
**NET INCOMING/(OUTGOING)**
**RESOURCES**
**18,604**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**649,913**
**TOTAL FUNDS CARRIED FORWARD**
**668,517**
**CONTINUING OPERATIONS**|Period
1.4.18
to
31.8.19
Total
funds
£
448,281
525,130
973,411
472
82,958
4,604
949,652
1,037,686
(64,275)
714,188
649,913| |---|---| All incoming resources and resources expended arise from continuing activities. The notes form part of these financial statements Page 5 **Westfield Community Development Association** ## **Balance Sheet At 31 August 2020** |**31.8.20**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
9
**854,410**
**CURRENT ASSETS**
Stocks
10
**500**
Debtors
11
**86,342**
Cash at bank and in hand
**74,339**
**161,181**
**CREDITORS**
Amounts falling due within one year
12
**(53,803)**
**NET CURRENT ASSETS/(LIABILITIES)**
**107,378**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**961,788**
**CREDITORS**
Amounts falling due after more than one year
13
**(293,271)**
**NET ASSETS**
**668,517**
**FUNDS**
16
Unrestricted funds
**668,517**
**TOTAL FUNDS**
**668,517**|31.8.19
Total
funds
£
855,219
780
56,471
12,440
69,691
(137,801)
(68,110)
787,109
(137,196)
649,913
649,913
649,913| |---|---| The notes form part of these financial statements continued... Page 6 **Westfield Community Development Association** ## **Balance Sheet - continued At 31 August 2020** The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Trustees on 17 May 2021 and were signed on its behalf by: P M Adams -Trustee The notes form part of these financial statements Page 7 **Westfield Community Development Association** ## **Notes to the Financial Statements for the Year Ended 31 August 2020** ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention, the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Financial reporting standard number 1** Exemption has been taken from preparing a cash flow statement on the grounds that the parent company includes the subsidiary in its published financial statements. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - not provided Plant and machinery - 20% on cost Motor vehicles - 25% on reducing balance ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Company status** The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation while he or she is a member within one year after he or she ceases to be a member, for payment of the company's debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up and for the adjustment of the right of the contributions among themselves. Page 8 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **2. VOLUNTARY INCOME** |**Year Ended**
**31.8.20**
**£**
Donations including Gift Aid
**17,226**
Grants
**236,316**
**253,542**
Grants received, included in the above, are as follows:
**Year Ended**
**31.8.20**
**£**
Other grants
**236,316**
**ACTIVITIES FOR GENERATING FUNDS**
**Year Ended**
**31.8.20**
**£**
Kids Club and Nursery
**267,610**
Social lotteries
**341**
Canteen
**4,958**
Club and Social Courses
**2,700**
Minibus and Room Hire
**9,893**
**285,502**|Period| |---|---| ||1.4.18| ||to| ||31.8.19| ||£| ||21,540| ||426,741| ||| ||| ||448,281| ||| ||| ||| ||Period| ||1.4.18| ||to| ||31.8.19| ||£| ||426,741| ||| ||| ||| ||Period| ||1.4.18| ||to| ||31.8.19| ||£| ||465,892| ||846| ||13,312| ||6,771| ||38,309| ||| ||| ||525,130| ||| ||| ## **3. ACTIVITIES FOR GENERATING FUNDS** ## **4. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS** |**Year**
Purchases
Staff costs
Motor Minibus Expenses
Uniforms
Labour & DBS Expenses|**Ended**
**31.8.20**
**£**
**31,415**
**3,174**
**6,180**
**1,047**
**2,631**
**44,447**|Period| |---|---|---| |||1.4.18| |||to| |||31.8.19| |||£| |||54,394| |||10,635| |||10,280| |||2,069| |||5,580| |||| |||| |||82,958| |||| |||| Page 9 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **5. GOVERNANCE COSTS** |**GOVERNANCE COSTS**||| |---|---|---| |||Period| |||1.4.18| ||**Year Ended**|to| ||**31.8.20**|31.8.19| ||**£**|£| |Accountancy|**3,457**|3,620| |Professional Fees|**-**|624| |Auditors' remuneration|**360**|360| ||**3,817**|4,604| |||| ## **6. NET INCOMING/(OUTGOING) RESOURCES** Net resources are stated after charging/(crediting): |||Period| |---|---|---| |||1.4.18| ||**Year Ended**|to| ||**31.8.20**|31.8.19| ||**£**|£| |Auditors' remuneration|**360**|360| |Depreciation - owned assets|**1,469**|2,862| |||| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the period ended 31 August 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2020 nor for the period ended 31 August 2019. Page 10 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **8. STAFF COSTS** |**Year Ended**
**31.8.20**
**£**
Wages and salaries
**373,994**
Social security costs
**18,365**
Other pension costs
**7,086**
**399,445**|Period| |---|---| ||1.4.18| ||to| ||31.8.19| ||£| ||831,932| ||33,649| ||4,153| ||| ||| ||869,734| ||| ||| The average monthly number of employees during the year was as follows: |||Period| |---|---|---| |||1.4.18| ||**Year Ended**|to| ||**31.8.20**|31.8.19| |General|**36**|37| |||| No employees received emoluments in excess of £60,000. ## **9. TANGIBLE FIXED ASSETS** |**Freehold**
**Plant and**
**property**
**machinery**
**£**
**£**
**COST OR VALUATION**
At 1 September 2019
**850,000**
**60,463**
Additions
**-**
**660**
At 31 August 2020
**850,000**
**61,123**
**DEPRECIATION**
At 1 September 2019
**-**
**58,727**
Charge for year
**-**
**599**
At 31 August 2020
**-**
**59,326**
**NET BOOK VALUE**
At 31 August 2020
**850,000**
**1,797**
At 31 August 2019
850,000
1,736
**10.**
**STOCKS**
Stocks|**Motor**
**vehicles**
**£**
**23,431**
**-**
**23,431**
**19,948**
**870**
**20,818**
**2,613**
3,483
**31.8.20**
**£**
**500**|**Totals**
**£**
**933,894**
**660**|**Totals**
**£**
**933,894**
**660**| |---|---|---|---| |||**934,554**|| |||**78,675**
**1,469**|| |||**80,144**|| |||**854,410**|| ||||| |||855,219|| ||||| ||||| ||||| |||31.8.19|| ||||£| ||||780| ||||| ||||| Page 11 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Other debtors
Prepayments
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 14)
Other loans (see note 14)
Trade creditors
Social security and other taxes
Net Wages Control
Pension Control Account
Accrued expenses
Deferred government grants||**31.8.20**
**£**
**69,190**
**16,140**
**1,012**
**86,342**
**31.8.20**
**£**
**-**
**8,254**
**3,793**
**7,825**
**-**
**2,298**
**3,193**
**28,440**
**53,803**||31.8.19| |---|---|---|---|---| |||||£| |||||56,471| |||||-| |||||-| |||||| |||||| |||||56,471| |||||| |||||| |||||| |||||31.8.19| |||||£| |||||29,279| |||||6,694| |||||6,397| |||||40,043| |||||3,500| |||||2,147| |||||3,875| |||||45,866| |||||| |||||| ||||137,801|| |||||| |||||| ## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ## **13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Bank loans (see note 14)
Other loans (see note 14)|**31.8.20**
**£**
**236,271**
**57,000**
**293,271**|31.8.19| |---|---|---| |||£| |||94,783| |||42,413| |||| |||| |||137,196| |||| |||| Page 12 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **14. LOANS** An analysis of the maturity of loans is given below: |Amounts falling due within one year on demand:
Bank overdraft
HSBC Loan
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due in more than five years:
Repayable by instalments:
HSBC loan more than 1 year
HSBC CBIL
**SECURED DEBTS**
The following secured debts are included within creditors:
Bank overdraft
Bank loans
The loan is secured by a charge on the freehold property.
HSBC Bank PLC holds legal mortgage charge dated 14/04/2011|**31.8.20**
**£**
**-**
**8,254**
**8,254**
**57,000**
**86,271**
**150,000**
**236,271**
**31.8.20**
**£**
**-**
**236,271**
**236,271**||31.8.19| |---|---|---|---| ||||£| ||||| ||||29,279| ||||6,694| ||||| ||||| ||||35,973| ||||| ||||| ||||| ||||42,413| ||||| ||||| ||||| ||||94,783| ||||-| ||||| ||||| ||||94,783| ||||| ||||| ||||| ||||31.8.19| ||||£| ||||29,279| ||||94,783| ||||| ||||| |||124,062|| ||||| ||||| ||||| ## **15. SECURED DEBTS** ## **16. MOVEMENT IN FUNDS** |||**Net**|| |---|---|---|---| |||**movement in**|| ||**At 1.9.19**|**funds**|**At 31.8.20**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|**649,913**|**18,604**|**668,517**| |**TOTAL FUNDS**|**649,913**|**18,604**|**668,517**| Page 13 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020** ## **16. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement in**| |---|---|---|---| ||**resources**|**expended**|**funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|**539,044**|**(520,440)**|**18,604**| |**TOTAL FUNDS**|**539,044**|**(520,440)**|**18,604**| |**Comparatives for movement in funds**|||| |||**Net**|| |||**movement in**|| ||**At 1.4.18**|**funds**|**At 31.8.19**| ||**£**|**£**|**£**| |**Unrestricted Funds**|||| |General fund|**714,188**|**(64,275)**|**649,913**| |**TOTAL FUNDS**|**714,188**|**(64,275)**|**649,913**| ||||| |Comparative net movement in funds, included in the above are as follows:|||| ||**Incoming**|**Resources**|Movement in| ||**resources**|**expended**|funds| ||**£**|**£**|£| |**Unrestricted funds**|||| |General fund|**973,411**|**(1,037,686)**|**(64,275)**| |**TOTAL FUNDS**|**973,411**|**(1,037,686)**|**(64,275)**| ||||| Page 14 **Westfield Community Development Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2020** |**Year Ended**
**31.8.20**
**£**
**INCOMING RESOURCES**
**Voluntary income**
Donations including Gift Aid
**17,226**
Grants
**236,316**
**253,542**
**Activities for generating funds**
Kids Club and Nursery
**267,610**
Social lotteries
**341**
Canteen
**4,958**
Club and Social Courses
**2,700**
Minibus and Room Hire
**9,893**
**285,502**
**Total incoming resources**
**539,044**
**RESOURCES EXPENDED**
**Costs of generating voluntary income**
Costs of Generating Donations
**453**
**Fundraising trading: cost of goods sold and other costs**
Purchases
**25,337**
Childcare Toys and Consumables
**6,078**
Sure Start
**3,174**
Motor Minibus Expenses
**6,180**
Uniforms
**1,047**
Labour & DBS Expenses
**2,631**
**44,447**
**Governance costs**
Accountancy
**3,457**
Professional Fees
**-**
Auditors' remuneration
**360**
**3,817**|Period| |---|---| ||1.4.18| ||to| ||31.8.19| ||£| ||| ||21,540| ||426,741| ||| ||| ||448,281| ||| ||465,892| ||846| ||13,312| ||6,771| ||38,309| ||| ||| ||525,130| ||| ||| ||973,411| ||| ||472| ||| ||43,246| ||11,148| ||10,635| ||10,280| ||2,069| ||5,580| ||| ||| ||82,958| ||| ||3,620| ||624| ||360| ||| ||| ||4,604| This page does not form part of the statutory financial statements Page 15 **Westfield Community Development Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2020** |||Period| |---|---|---| |||1.4.18| ||**Year Ended**|to| ||**31.8.20**|31.8.19| ||**£**|£| |**Other resources expended**||| |Staff Wages & Consultancy|**370,820**|821,297| |Social security|**18,365**|33,649| |Pensions & Redundancy|**7,086**|4,153| |Building Costs|**31,424**|36,674| |Telephone|**7,172**|10,048| |Postage and Stationery|**2,787**|3,942| |Repairs and Cleaning|**9,581**|13,416| |Hire of Equipment|**4,104**|5,521| |Security Costs|**788**|1,109| |Sundry|**6,570**|3,107| |Bank Charges|**1,745**|4,482| |Volunteer Expenses|**612**|61| |Depn of Plant & Machinery|**599**|952| |Depn of Motor Vehicles|**871**|1,910| |Loan Interest|**9,199**|9,331| ||**471,723**|949,652| |**Total resources expended**|**520,440**|1,037,686| |**Net income/(expenditure)**|**18,604**|(64,275)| |||| This page does not form part of the statutory financial statements Page 16 **Independent Examiner's Report to the Trustees of Westfield Community Development Association** I report on the accounts of the company for the year ended 31 August 2020, which are set out on pages five to fourteen. ## **Responsibilities and basis of report** As the charity's trustees (and also the 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. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. that accounting records were not kept as required by section 386 of the Companies Act 2006; or 2. that the accounts do not accord with those records; or 3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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; or 4. that there is further information needed for a proper understanding of the accounts. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Certified Accountant which is one of the listed bodies. I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention. David Preston Chartered Certified Accountant Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU 17 May 2021 Page 4 **Westfield Community Development Association** **Contents of the Financial Statements for the Year Ended 31 August 2020** ||Page| |---|---| |Report of the Trustees|1 to 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6 to 7| |Notes to the Financial Statements|8 to 14| |Detailed Statement of Financial Activities|15 to 16|