**REGISTERED COMPANY NUMBER: 04016718 (England and Wales) REGISTERED CHARITY NUMBER: 1148009** **Report of the Trustees and Financial Statements for the Year Ended 31 August 2023 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 2023** 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 2023. 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 J Peake Trustee/Director Rev Canon D Jennings Director/Trustee Chairperson ## **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 2023** ## **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 gender, 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 and 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. The 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** Like many in the Voluntary and Community Sector the Association continues to tackle and meet the challenges presented by the Covid crisis and its' aftermath. Having reported the stabilising of our financial position in the previous accounting period we now face the challenge of a number of extraneous financial pressures which serve to undermine the financial viability of the community centre, and which we highlighted at the end of the previous years strategic report. The continuing "cost of living crisis" and high inflation continues to add considerable pressure to the operational and infrastructure costs of the community centre and significantly raises our loan and wage costs. These pressures have been exacerbated by the curtailment of a number of Local Authority funding opportunities and a sharp, post covid decline in available financial support from local and national trusts. Fortunately, with a great deal of volunteer, staff and trustee effort and determination, the work of the Association has survived throughout the last twelve months as we continue in earnest the process of building back our pre-covid services, where they have been considered to be economically sustainable. Where they have not we have taken the difficult decision to close or curtail provision as we continue to make the sustainability of the viable community services a major strategic priority. To this end we have been exploring a number of contingency options and working closely with key stakeholders including our neighbouring schools , community partners and the Borough and County councils. ## **FINANCIAL REVIEW** Like many in the community and voluntary sector we have found the last accounting period to be the most challenging in our entire history. The fiscal and social contribution of volunteers who give their time and expertise to support the Association's programmes or repair and maintain the Association's premises, has throughout the recent period continues to make a significant contribution to our ongoing financial stability and sustainability. The Association is fortunate in having fixed assets of considerable value. Which is seen as a major factor in our forward contingency planning. 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 20 May 2024 and signed on the board's behalf by: Rev Canon D Jennings - Trustee Page 2 ## **Westfield Community Development Association** ## **Statement of Financial Activities for the Year Ended 31 August 2023** |**31.8.23**
**Unrestricted**
**funds**
Notes
**£**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
2
**151,450**
Activities for generating funds
3
**243,557**
**Total incoming resources**
**395,007**
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
**513**
Fundraising trading: cost of goods sold and other
costs
4
**32,190**
**Governance costs**
5
**2,577**
**Other resources expended**
**442,105**
**Total resources expended**
**477,385**
**NET INCOMING/(OUTGOING)**
**RESOURCES**
**(82,378)**
**Other recognised gains/losses**
Freehold property
**-**
**Net movement in funds**
**(82,378)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**682,737**
**TOTAL FUNDS CARRIED FORWARD**
**600,359**|31.8.22
Total
funds
£
194,049
241,488
435,537
513
42,753
13,217
515,916
572,399
(136,862)
180,000
43,138
639,599
682,737| |---|---| ## **CONTINUING OPERATIONS** All incoming resources and resources expended arise from continuing activities. The notes form part of these financial statements Page 4 ## **Westfield Community Development Association** ## **Balance Sheet At 31 August 2023** |**31.8.23**
**Unrestricted**
**funds**
Notes
**£**
**FIXED ASSETS**
Tangible assets
9
**1,038,789**
**CURRENT ASSETS**
Stocks
10
**9,935**
Debtors
11
**42,053**
Cash at bank and in hand
**29,500**
**81,488**
**CREDITORS**
Amounts falling due within one year
12
**(83,432)**
**NET CURRENT ASSETS/(LIABILITIES)**
**(1,944)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**1,036,845**
**CREDITORS**
Amounts falling due after more than one year
13
**(436,486)**
**NET ASSETS**
**600,359**
**FUNDS**
16
Unrestricted funds
**600,359**
**TOTAL FUNDS**
**600,359**|31.8.22
Total
funds
£
1,041,719
750
32,366
66,022
99,138
(85,381)
13,757
1,055,476
(372,739)
682,737
682,737
682,737| |---|---| The notes form part of these financial statements continued... Page 5 ## **Westfield Community Development Association** ## **Balance Sheet - continued At 31 August 2023** The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 20 May 2024 and were signed on its behalf by: Rev Canon D Jennings -Trustee The notes form part of these financial statements Page 6 **Westfield Community Development Association** **Notes to the Financial Statements for the Year Ended 31 August 2023** ## **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 and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. ## **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 7 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **2. VOLUNTARY INCOME** |Donations including Gift Aid
Grants
Grants received, included in the above, are as follows:
Other grants
**ACTIVITIES FOR GENERATING FUNDS**
Kids Club and Nursery
Canteen
Club and Social Courses
Minibus and Room Hire|**31.8.23**
**£**
**14,076**
**137,374**
**151,450**
**31.8.23**
**£**
**137,374**
**31.8.23**
**£**
**214,119**
**3,827**
**524**
**25,087**
**243,557**|31.8.22| |---|---|---| |||£| |||22,354| |||171,695| |||| |||| |||194,049| |||| |||| |||| |||31.8.22| |||£| |||171,695| |||| |||| |||31.8.22| |||£| |||220,032| |||3,005| |||607| |||17,844| |||| |||| |||241,488| |||| |||| **3. ACTIVITIES FOR GENERATING FUNDS** ## **4. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS** |Purchases
Motor Minibus Expenses
Uniforms
Bad debts
Labour & DBS Expenses
**GOVERNANCE COSTS**
Accountancy
Legal fees
Professional Fees
Auditors' remuneration|**31.8.23**
**£**
**21,456**
**9,651**
**270**
**-**
**813**
**32,190**
**31.8.23**
**£**
**2,217**
**-**
**-**
**360**
**2,577**|31.8.22| |---|---|---| |||£| |||27,598| |||12,238| |||178| |||186| |||2,553| |||| |||| |||42,753| |||| |||| |||| |||31.8.22| |||£| |||2,386| |||8,457| |||2,014| |||360| |||| |||| |||13,217| |||| ## **5. GOVERNANCE COSTS** Page 8 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **6. NET INCOMING/(OUTGOING) RESOURCES** Net resources are stated after charging/(crediting): ||**31.8.23**|31.8.22| |---|---|---| ||**£**|£| |Auditors' remuneration|**360**|360| |Depreciation - owned assets|**2,930**|3,906| |||| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **8. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
General|**31.8.23**
**£**
**304,866**
**12,226**
**5,353**
**322,445**
**31.8.23**
**22**|31.8.22|31.8.22| |---|---|---|---| |||£|| |||352,904|| |||17,067|| |||49,080|| ||||| ||||| |||419,051|| ||||| ||||| ||||| |||31.8.22|| ||||23| ||||| ||||| No employees received emoluments in excess of £60,000. Page 9 ## **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **9. TANGIBLE FIXED ASSETS** |**9.**
**TANGIBLE FIXED ASSETS**||||| |---|---|---|---|---| |**Freehold**
**Plant and**
**property**
**machinery**
**£**
**£**
**COST OR VALUATION**
At 1 September 2022 and 31 August 2023
**1,030,000**
**62,282**
**DEPRECIATION**
At 1 September 2022
**-**
**60,530**
Charge for year
**-**
**438**
At 31 August 2023
**-**
**60,968**
**NET BOOK VALUE**
At 31 August 2023
**1,030,000**
**1,314**
At 31 August 2022
1,030,000
1,752
**10.**
**STOCKS**
Stocks
Work-in-progress
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other loans (see note 14)
Trade creditors
Social security and other taxes
Pension Control Account
Other creditors
Accrued expenses
Deferred government grants|**Motor**
**vehicles**
**£**
**30,990**
**21,023**
**2,492**
**23,515**
**7,475**
9,967
**31.8.23**
**£**
**735**
**9,200**
**9,935**
**31.8.23**
**£**
**40,541**
**1,512**
**42,053**
**31.8.23**
**£**
**4,500**
**4,517**
**2,439**
**1,594**
**33,605**
**4,645**
**32,132**
**83,432**|**Totals**
**£**
**1,123,272**||| |||**81,553**
**2,930**||| |||**84,483**||| |||**1,038,789**||| |||||| |||1,041,719||| |||||| |||||| |||||| ||||31.8.22|| |||||£| |||||750| |||||-| |||||| |||||| |||||750| |||||| |||||| ||||31.8.22|| ||||£|| ||||30,854|| ||||1,512|| |||||| |||||| ||||32,366|| |||||| |||||| |||||| ||||31.8.22|| ||||£|| ||||22,400|| ||||6,803|| ||||995|| ||||1,475|| ||||38,700|| ||||4,712|| ||||10,296|| |||||| |||||| ||||85,381|| |||||| |||||| Page 10 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Bank loans (see note 14)
Other loans (see note 14)
**14.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Reliance Loan
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due in more than five years:
Repayable by instalments:
Reliance Loan more than 1 year
**15.**
**SECURED DEBTS**
The following secured debts are included within creditors:
Bank loans
The loan is secured by a charge on the freehold property.
**16.**
**MOVEMENT IN FUNDS**|**31.8.23**
**£**
**339,486**
**97,000**
**436,486**
**31.8.23**
**£**
**4,500**
**97,000**
**339,486**
**31.8.23**
**£**
**339,486**|31.8.22|31.8.22| |---|---|---|---| |||£|| |||325,739|| |||47,000|| ||||| ||||| |||372,739|| ||||| ||||| ||||| ||||31.8.22| ||||£| ||||| ||||22,400| ||||| ||||| ||||| ||||47,000| ||||| ||||| ||||| |||325,739|| ||||| ||||| ||||| |||31.8.22|| |||£|| |||325,739|| ||||| ||||| |||**Net**|| |---|---|---|---| |||**movement in**|| ||**At 1.9.22**|**funds**|**At 31.8.23**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|**502,737**|**(82,378)**|**420,359**| |Revaluation Reserve|**180,000**|**-**|**180,000**| ||**682,737**|**(82,378)**|**600,359**| |**TOTAL FUNDS**|**682,737**|**(82,378)**|**600,359**| Page 11 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **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||**395,007**|**(477,385)**|**(82,378)**|| |**TOTAL FUNDS**||**395,007**|**(477,385)**|**(82,378)**|| |**Comparatives for movement in funds**|||||| ||||**Net**||| ||||**movement in**||| |||**At 1.9.21**|**funds**|**At 31.8.22**|| |||**£**|**£**|**£**|| |**Unrestricted Funds**|||||| |General fund||**639,599**|**(136,862)**|**502,737**|| |Revaluation Reserve||**-**|**180,000**|**180,000**|| |||**639,599**|**43,138**|**682,737**|| |**TOTAL FUNDS**||**639,599**|**43,138**|**682,737**|| |Comparative net movement in funds, included in the above are as follows:|||||| ||**Incoming**|**Resources**|**Gains and**|Movement in|| ||**resources**|**expended**|**losses**|funds|| ||**£**|**£**|**£**|£|| |**Unrestricted funds**|||||| |General fund|**435,537**|**(572,399)**|**-**|**(136,862)**|| |Revaluation Reserve|**-**|**-**|**180,000**|**180,000**|| ||**435,537**|**(572,399)**|**180,000**|**43,138**|| |**TOTAL FUNDS**|**435,537**|**(572,399)**|**180,000**|**43,138**|| ||||||| Page 12 **Westfield Community Development Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **16. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||**Net**|| |---|---|---|---| |||**movement in**|| ||**At 1.9.21**|**funds**|**At 31.8.23**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|**639,599**|**(219,240)**|**420,359**| |Revaluation Reserve|**-**|**180,000**|**180,000**| |**TOTAL FUNDS**|**639,599**|**(39,240)**|**600,359**| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Revaluation Reserve
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
**830,544**
**-**
**830,544**|**Resources**
**expended**
**£**
**(1,049,784)**
**-**
**(1,049,784)**
**830,544**|**Gains and**
**Movement in**
**losses**
**funds**
**£**
**£**
**-**
**(219,240)**
**180,000**
**180,000**
**180,000**
**(39,240)**
**(1,049,784)**
**(39,240)**| |---|---|---|---| Page 13 **Westfield Community Development Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023** |**INCOMING RESOURCES**
**Voluntary income**
Donations including Gift Aid
Grants
**Activities for generating funds**
Kids Club and Nursery
Canteen
Club and Social Courses
Minibus and Room Hire
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs of generating voluntary income**
Costs of Generating Donations
**Fundraising trading: cost of goods sold and other costs**
Purchases
Childcare Toys and Consumables
Motor Minibus Expenses
Uniforms
Bad debts
Labour & DBS Expenses
**Governance costs**
Accountancy
Legal fees
Professional Fees
Auditors' remuneration
**Other resources expended**
Staff Wages & Consultancy
Social security
Pensions & Redundancy
Carried forward|**31.8.23**
**£**
**14,076**
**137,374**
**151,450**
**214,119**
**3,827**
**524**
**25,087**
**243,557**
**395,007**
**513**
**14,888**
**6,568**
**9,651**
**270**
**-**
**813**
**32,190**
**2,217**
**-**
**-**
**360**
**2,577**
**304,866**
**12,226**
**5,353**
**322,445**|31.8.22| |---|---|---| |||£| |||| |||22,354| |||171,695| |||| |||| |||194,049| |||| |||220,032| |||3,005| |||607| |||17,844| |||| |||| |||241,488| |||| |||| |||435,537| |||| |||513| |||| |||17,099| |||10,499| |||12,238| |||178| |||186| |||2,553| |||| |||| |||42,753| |||| |||2,386| |||8,457| |||2,014| |||360| |||| |||| |||13,217| |||| |||352,904| |||17,067| |||49,080| |||419,051| This page does not form part of the statutory financial statements Page 14 ## **Westfield Community Development Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023** |**Other resources expended**
Brought forward
Building Costs
Telephone
Postage and Stationery
Repairs and Cleaning
Hire of Equipment
Security Costs
Sundry
Bank Charges
Volunteer Expenses
Depn of Plant & Machinery
Depn of Motor Vehicles
Loan
Loan Interest
**Total resources expended**
**Net expenditure**|**31.8.23**
**£**
**322,445**
**31,253**
**6,117**
**2,823**
**37,757**
**1,431**
**1,020**
**7,694**
**607**
**846**
**438**
**2,492**
**(144)**
**27,326**
**442,105**
**477,385**
**(82,378)**|31.8.22
£
419,051
33,116
6,779
3,499
11,967
2,035
936
8,007
920
723
584
3,322
14,410
10,567
515,916
572,399
(136,862)| |---|---|---| This page does not form part of the statutory financial statements Page 15 **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 2023, which are set out on pages four to thirteen. ## **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 Date: ............................................. Page 3 **Westfield Community Development Association** **Contents of the Financial Statements for the Year Ended 31 August 2023** ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Balance Sheet|5 to 6| |Notes to the Financial Statements|7 to 13| |Detailed Statement of Financial Activities|14 to 15|