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2022-03-31-accounts

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

THE TRUST DEED

The Henley Community Centre Charity, Church Meadows, Ashbocking Road, Henley, Ipswich, Suffolk. IP6 0RP is registered with the Charity Commissioners (No.1150878) and constituted by Deed of Trust. Henley Community Centre Charity is also registered in England and Wales as company number 8251879. It started to operate on 1[st] April 2013, when it inherited the assets and liabilities of the original charity (No. 1067812). The main objective of the Charity is to provide recreational and sporting facilities, playing fields, playgrounds and the Community Centre in the Parish of Henley. Henley Parish Council owns the Hall and the surrounding grounds. The Henley Community Centre Charity holds a 99-year lease commencing on the 6th January 1998 from the Parish Council. The HCCC Bar is a separate organisation, which has covenanted its profits to the Charity. A Trustee is involved in the management of the HCCC Bar.

TRUSTEES & COMMITTEES

The Charity started the year with just Steve Brock, Barrie Pyke and Robert Earey as Trustees. At the 2021 AGM, Robert Earey was re-elected and additionally, Jo Austin, Lucy Finlayson, Grahame Hughes and Alan Johnson were nominated to the Trustees. Barrie Pyke holds a position to be re-elected in 2023.

A Parish Council nominated position is held by Steve Brock and they are aware that they can nominate additional Trustees.

There is currently one vacant Trustee position.

CHAIRMAN’S REPORT

Can I start by Thanking the Community Centre staff, Jonathan, Kailea, Kevin and Luke for the efforts in ensuring that the Community Centre has continued to open safely during the transition out of Covid restrictions and a return to what we had taken for granted. And I also need to Thank my fellow Trustees; Robert and Barrie who have helped guide the Charity throughout the Covid pandemic and to Jo, Lucy, Alan & Grahame who have reenergised the Trustees as our focus switched from keeping the Centre open to organising more social events and addressing some of the outstanding issues with the premises.

I ended last year's report by saying it was difficult to see when the Community Centre will return to what we have considered normal operations and with restrictions completely lifted, we need hirers’ confidence to return. Well, this did happen albeit slowly at first. The Henley Chefs held a rounders and BBQ evening which attracted large numbers from the village. By the time 2022 arrived, Henley Players performed their panto and the Henley Chefs also held a Burns Night. I'm aware that for some people, these indoors events were the first they had attended since the arrival of Covid19. By the end of March, we also held a Talent Show and were planning events for Easter and the Jubilee.

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

Many organisations have really struggled to survive the pandemic and there were times when I was quite despondent about the future of the Community Centre. However, it can probably be said that we had a good Pandemic. Our decision to open as soon as we could meant that we attracted regular hirers from other venues and some of these have stayed meaning we now have limited availability on weekdays. It has also contributed to our hire income being well above what was budgeted for.

Looking forward, we are looking to replace our boilers (the heating boiler failed in February) and the main hall lights with energy efficient LED's, funded from our Designated Fund. As we have a good number of regular and ad hoc hirers we have budgeted for an increase in hire income which along with the Bar's contribution should cover our running costs. There is also great interest in the village for more social activities that may not boost our income but will be beneficial for the village. We can be optimistic about the future of the Community Centre despite the emerging cost of living crisis.

CHARITABLE ACTIVITIES

The trustees confirm that they have paid due regard to the Charity Commission's general guidance on public benefit. Over the years, the Charity has provided the use of the facilities to residents and a variety of village organisations at reduced rates.

During the financial year ending 31[st] March 2022, a further six village organisations returned to the Community Centre as the risks of Covid diminished. The village organisations using the hall during the year include:

Henley Pre School (Registered Charity Number: 1028129) Henley WI Henley Senior Citizens Henley Parochial Church Council Henley Guides Henley Bowls Henley Players Henley Athletic Football Club Henley Chefs

FINANCIAL REPORT

After what was the most difficult year in the Charity’s history, I am pleased to report that for the year ending in March 2022, a large surplus was achieved. One contributing factor was Government funding in the form of a Covid grant of £8,000 and Furlough payments totalling £1,310. Additionally, our hire income was 9% more that we had budgeted for, there was a significant running costs underspend and very little expenditure from designated funds.

The surplus before transfers to Reserves for the year was £25,708. In the previous year, this was a loss of £2,590. The Charity’s income from hiring the centre/grounds rose from £11,441 to £39,473. The HCCC Bar contributions rose from a Covid impacted £0 to £12,270 (a covenanted sum of £9,270 plus a contribution to the hall

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

running costs). This was lower than pre-Covid due to the bar not opening until July and reduced openings for most of the year. Our ability to run Fund Raising and Social events was limited, but a village talent show resulted in income of £276 with expenditure of £111.

The running costs paid out of the General Fund were £36,344 and included the wages of Jonathan Bloye, Kailea Boyne, Kevin Griggs and Luke Hayes and we are grateful for all their hard work at the centre during a difficult time. Last year, £23,865 was spent from the General Fund, £4,539 was spent, funded from Designated Funds and a further £163 was spent, funded from Restricted Funds.

With the steadily increasing usage of the Centre following the relaxation of the Covid restrictions our expenditure started to rise towards pre-Covid levels, although it was still well below the 2019/20 levels. The notable spending above pre-Covid levels was for Power & Heat, Maintenance and Publicity. Whilst electricity costs were still low, oil spending was higher, mostly due to doors being left open for ventilation, but also one purchase as the prices’ soared. As a result, Power & Heat rose from £2,125 to £7,194, but we did benefit from the PV panels generating 4,064kHh of electricity, with the income falling from £2,400 to £2,310 for the year. The maintenance was across the board but most was spent on electrical work. We also chose to spend £390 on an autumn advertisement targeted at securing future bookings. Last year, we spent £1,080 on cleaning materials, PPE, protective equipment and signage to enable a Covid secure opening of the Centre, but there was no further Covid related spending.

During the 2018/19 year, the Trustees decided to create a third Designated Fund, to be used to fund Village Social events. So far, 50% of the income received from the Henley Chefs and all the income from MSDC for recycling glass and paper has been transferred to this fund. During the year, £312 was received from recycling, payments for social events added a further £276 and some interest was also added to the fund. The fund was also used for funding two events during the year. At the end of the year the value of the Fund had risen from £2,907 to £3,393.

The fund for the purchase of new or replacement furniture, fittings & equipment started the year at a value of £40,208, with £8,011 being added to the fund and no expenditure during the year, the value of the fund rose to £48,219.

The fund set up to provide for longer-term building repairs and developments started the year at a value of £40,067, with £16,933 being added to the fund and no expenditure during the year, the value of the fund rose to £57,000.

The Designated Funds are held as cash, predominantly in the COIF Deposit Account and the CAF Gold accounts. The accumulated total of these funds is shown as Designated Funds in the Financial Statements.

The Restricted Funds started the year at £862, with £278 being added to the fund and no expenditure during the year, the fund ended the year at £1,140.

At the end of March, our General Fund remained at £30,644. The General Fund has been used to finance the Fixed Assets which had a written down value of £5,946. There were assets worth £2,174 added to the Fixed Assets during the year.

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

The accumulation of monies in our General Fund should assist with future developments and improvements to the Community Centre and playing field.

The Independent Examiner has completed the review of this year's report and accounts.

Professional Advisers:Bankers: Solicitors: Independent Examiner:

CAF BANK Limited, Kings Hill, West Malling, Kent. Birketts LLP, 24-26 Museum Street, Ipswich, Suffolk. H.J. Hedges-Quinn & Co Ltd, The Old Astra Cinema, The Street, Gt. Bricett

Stephen Brock For and on behalf of the Trustees. 12[th] July 2022

HENLEY COMMUNITY CENTRE CHARITY

Statement Of Financial Activities for the year ending 31st March 2022

Statement Of Financial Activities
for the year ending 31st March 2022
2021 - 2022 2020 - 21
£
£
£
£
£
Notes
General
Funds
Designated
Fund
Restricted Fund
TOTAL
FUNDS
TOTAL
FUNDS
Incoming Resources
Grants
11
8,000
8,000
18,566
Donations
11
120
120
845
Operating Activities -
Use of Hall
37,159
37,159
10,407
Use of Field
2,314
2,314
1,034
Social/Fund Raising Events
11
276
27
8
554
0
Marquee
2,730
2,730
0
Bar Charges
9
974
974
0
Other
10
312
312
241
Investment Interest
3,6,7,
8
31
31
79
Bar Contribution
9
12,270
12,270
0
Total Income
63,56
7
619
278
64,46
4
31,172
Expenditure
Running Costs of Hall
6,7,12
36,344
36,344
28,567
Grant Funded Expenditure
11
0
2,657
Social/Fund Raising Events
111
111
0
Bar Charges
9
974
974
0
Depreciation of Assets
2
1,327
1,327
2,513
Donations
0
25
Total Resources
Expended
38,64
5
111
38,75
6
33,762
Net Incoming/(Outgoing
Resources)
for the Year, before
Transfers
24,92
2
508
278
25,70
8
(2,590
)
Transfer For -
Building Repairs
7
(16,92
2)
16,922
0
0
Fixture Replacement
6
(8,000)
8,000
0
0
Net Incoming/(Outgoing
Resources)
for the Year, after
Transfers
0
25,430
278
25,70
8
(2,590
)
Balance brought forward
01/04/2021
30,644
83,182
862
114,68
8
117,27
8
Accumulated Funds

HENLEY COMMUNITY CENTRE CHARITY

Statement Of Financial Activities for the year ending 31st March 2022

Carried Forward

30,64

140,3 114,68 96 8

4 108,612

1,140

8

HENLEY COMMUNITY CENTRE CHARITY

Balance Sheet as at 31st March 2022

Balance Sheet as at 31st March 2022 Balance Sheet as at 31st March 2022 Balance Sheet as at 31st March 2022
Notes
2021 - 2022
2020 - 2021
Fixed Assets
£
£
Tangible
At Cost
2
90,322 94,375
Less Depreciation (84,376) (89,276)
---------- ----------
5,946 5,099
Current Assets
Debtors
4
15,655 16,660
COIF Investments
3
53,239 53,216
Cash at Bank & in Hand 73,217 45,249
--------- ---------
142,111 115,125
Current Liabilities
Creditors - Falling Due within one
year
5
(7,661) (5,536)
----------- -----------
Net Current Assets 134,450 109,589
Total Net Assets 140,396 114,688
Represented by
Funds
General Funds 30,644 30,644
Restricted Funds
11
1,140 862
Designated Funds:-
Furniture, Fittings & Equipment
6
48,219 40,208
Building Repairs
7
57,000 40,067
Social
8
3,393 2,907
--------- ---------
Total Designated Funds 108,612 83,182
Total Funds 140,396 114,688

The notes on pages 7-12 form part of these Accounts

Stephen Brock For and on behalf of the Trustees. 12[th] July 2022

Page 3 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

The Henley Community Centre Charity is a Registered Charity, Number 1150878, and Constituted by a Declaration of Trust. The Charity has a 99year lease from Henley Parish Council over the Playing Field, Playground and the Community Centre and its Car Park. Use of the Community Centre began in April 1998. On 1[st] April 2013, operation of Henley Community Centre moved from the original Registered Charity, Number 1067812 to the new charity.

The charity is controlled by the Board of Trustees as set out on page 1.

No remuneration was paid out of the funds directly or indirectly to any Trustee or Committee Member. Reimbursement of any expenses to a Trustee is solely in respect of those items directly incurred by them for use by the Charity.

1. Accounting Policies

These accounts have been prepared under the historic cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities.

Fixed assets – Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

I. Equipment - 20% Straight line basis

II. Fixtures - 10% Straight line basis Since 2011/12, the residual values of new purchases is considered to be 10% of the original cost.

Irrecoverable VAT - Resources expensed include attributable VAT which cannot be recovered.

Governance costs - Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Investments - Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Page 4 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

2. Fixed Assets

During the year, the CCTV system was replaced at a cost of £2,174, with the cost of the old CCTV system, £6,227, written off. Last year there had been no expenditure.

Equipment
Fixtures
5 Years
10 Years
£
£

Cost
At 31 March 2021
44,022
50,353
Additions in year
2,174
0
Items Written Of
(6,227)
0
At 31 March 2022
39,969
50,353
Depreciation
At 31 March 2021
40,893
48,383
Charge for the year
1,265
62
Items Written Of
(6,227)
0
At 31 March 2022
35,931
48,445
Net Book Value
At 31 March 2022
4,038
1,908
At 31 March 2021
3,129
1,970
Equipment
Fixtures
5 Years
10 Years
£
£

Cost
At 31 March 2021
44,022
50,353
Additions in year
2,174
0
Items Written Of
(6,227)
0
At 31 March 2022
39,969
50,353
Depreciation
At 31 March 2021
40,893
48,383
Charge for the year
1,265
62
Items Written Of
(6,227)
0
At 31 March 2022
35,931
48,445
Net Book Value
At 31 March 2022
4,038
1,908
At 31 March 2021
3,129
1,970
Equipment
Fixtures
5 Years
10 Years
£
£

Cost
At 31 March 2021
44,022
50,353
Additions in year
2,174
0
Items Written Of
(6,227)
0
At 31 March 2022
39,969
50,353
Depreciation
At 31 March 2021
40,893
48,383
Charge for the year
1,265
62
Items Written Of
(6,227)
0
At 31 March 2022
35,931
48,445
Net Book Value
At 31 March 2022
4,038
1,908
At 31 March 2021
3,129
1,970
Equipment
Fixtures
5 Years
10 Years
£
£

Cost
At 31 March 2021
44,022
50,353
Additions in year
2,174
0
Items Written Of
(6,227)
0
At 31 March 2022
39,969
50,353
Depreciation
At 31 March 2021
40,893
48,383
Charge for the year
1,265
62
Items Written Of
(6,227)
0
At 31 March 2022
35,931
48,445
Net Book Value
At 31 March 2022
4,038
1,908
At 31 March 2021
3,129
1,970
Equipment
Fixtures
5 Years
10 Years
£
£

Cost
At 31 March 2021
44,022
50,353
Additions in year
2,174
0
Items Written Of
(6,227)
0
At 31 March 2022
39,969
50,353
Depreciation
At 31 March 2021
40,893
48,383
Charge for the year
1,265
62
Items Written Of
(6,227)
0
At 31 March 2022
35,931
48,445
Net Book Value
At 31 March 2022
4,038
1,908
At 31 March 2021
3,129
1,970
Total Total
£
£
£
44,022 50,353 94,375
2,174 0 2,174
(6,227) 0 (6,227)
39,969 50,353 90,322
40,893 48,383 89,276
1,265 62 1,327
(6,227) 0 (6,227)
35,931 48,445 84,376
4,038 1,908 5,946
3,129 1,970 5,099

3. Investments

The Charity holds investments managed by CCLA Investment Management Limited which is the fund manager of the COIF Charities Deposit Fund and is authorised and regulated by the Financial Conduct Authority. The Fund is approved by the Charity Commission as a Common Deposit Fund under section 25 of the Charities Act 1993.

The Community Centre Charity held the following investments at the 31[st] March 2022 and the increase on the year was £23 compared with an increase of £63 for the year ending 31[st ] March 2021.

increase of £63 for the year ending 31stMarch 2021. increase of £63 for the year ending 31stMarch 2021. increase of £63 for the year ending 31stMarch 2021. increase of £63 for the year ending 31stMarch 2021.
31 Mar 2022
31 Mar 2021
£
£
COIF Deposit Fund balance 53,239 53,216
53,239 53,216

Page 5 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

4. Debtors

The only outstanding hire fees are from regular hirers who were billed during March 2022. The 2021 Sundry Debtors were as a result of insurance payments in advance and cheques from HCCC Bar dating back to 2019/20. As of 31[st] March 2022, the Sundry Debtors were HCCC Bar cheques that have not been presented to the bank.

have not been presented to the bank. have not been presented to the bank. have not been presented to the bank. have not been presented to the bank.
31 Mar 2022
31 Mar 2021
£ £
Hall Letting Fees 6,385 2,420
Sundry Debtors 9,270 14,240
15,655 16,660

5. Creditors

With the relaxation of Covid-19 restrictions and growing confidence amongst the general public, there has been a marked increase in deposits received for booking in 2022/23 and beyond with the value at the year-end being £7,031.

31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
Creditors relating to Hall Hiring
Fees
£ £
received in advance 7,031 4,996
Social Events Paid in Advance 60 0
Provision for Independent Examination 570 540
7,661 5,536

6. Designated Fund - Provision for Purchase of New or Replacement of Furniture, Fittings & Equipment

This fund is for the purchase of new replacement furniture, fittings & equipment. The fund is currently held as cash. During the year, the fund was not used to purchase any new fixtures or fittings, but a further £8,000 was added to the fund with the intention of using it to refurbish the Lounge Bar.

Lounge Bar.
Movements 31 Mar 2022
31 Mar 2021
£ £
Balance forward 40,208
40,174
Provision for year 8,000
0
Interest 11 34
Expenditure 0 0
48,219 40,208

Page 6 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

7. Designated Fund - Building Repair & Development

This fund is to be used for repairs/replacement of flooring, boilers, wiring, windows, doors and new structural developments. During the year, there was no expenditure from this fund. However, by the end of 2021/22, there were issues with the boilers and main hall lights so a further £16,922 was added to fund replacements during 2022/23.

Movements 31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
£ £
Balance forward 40,067 44,577
Provision for year 16,922 0
Interest 11 29
Expenditure 0 (4,539)
57,000 40,067

8. Designated Fund - Social

This fund is to be used to finance social activities for the residents of Henley. During the year, the village’s recycling income of £312 was added to the fund along with £276 from ticket sales for social events. A total of £111 was used to finance social events.

Movements 31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
31 Mar 2022
31 Mar 2021
£ £
Balance forward 2,907
2,650
Provision for year 588
241
Interest 9
16
Expenditure (111) 0
3,393 2,907

9. Contribution by HCCC Bar

Under a Deed of Covenant, the HCCC Bar agrees to pass to the Henley Community Centre Charity their profits. At the end of 2019/20, the Charity chose not to cash the covenanted profits due to the uncertainty caused by the Covid-19 pandemic. HCCC Bar made a modest deficit at the end of 2020/21 but have sufficient funds to restart operations without a cash flow issue. During 2021/22, the Charity was able to cash the 2019/20 covenanted profits and then by the end of the year HCCC Bar was able to pay the Charity £3,000 for use of the facilities and was also able to covenant profits of £9,270.

.

Page 7 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

10. Others

The total of other income was £312, made up of recycling payments received from MSDC which has been added to the Social Designated Fund.

11. Donations & Grants.

During the year we received a donation from the family of Rod Caird following our hosting of his funeral.

As part of the Government’s ongoing Covid support we received a Restart Grant of £8,000.

The donations and Covid19 support grants are held in the General Fund.

Following the closure of the Henley Youth Club during 2004/5 the funds belonging to that organisation, amounting to £499, were passed to the Trustees. This value has grown and now currently stands at £590 and is held in Restricted Funds.

At the start of 2020/21, the Charity held £270 in a restricted fund and represents money donated to the Charity by Henley Chefs. During the year there were additions to this totalling £278. This is held pending distribution to local charities/good causes.

At the end of 2020/21, we received a Mid Suffolk District Council Locality Award of £2,659 to be used for the replacement of the current floodlighting of the playing field. To date, £2,657 has been spent with the remainder held as Reserved Funds pending future purchases associated with the installation of the lights.

The sum of these items in the Restricted Fund is now £1,140.

Page 8 of 9

HENLEY COMMUNITY CENTRE CHARITY

Notes to the Accounts for the Period 1st April 2021 to 31st March 2022

12. Running Costs of the Hall

12. Running Costs of the Hall 12. Running Costs of the Hall 12. Running Costs of the Hall

31 Mar 2022
31 Mar 2021
£ £
Power & Heat
Oil/Gas 4,583 1,912
Electricity 2,611 213
7,194 2,125
Water Services 770 711
Telephone/ Broadband 770 803
Insurance 2,108 2,888
Security Costs 729 1,262
Wages (see note 1 below) 16,261 7,344
Cleaning & Maintenance
Contract Cleaning 1,800 1,177
Supplies 1,692 1,724
COVID-19 0 1,080
Maintenance 2,318 1,443
Petty Cash 0 10
Grounds 298 812
6,108 6,246
Administration (see note 2
below)
714 721
Welfare/ Health & Safety 850 828
Publicity 556 366
Licenses 284 571
Catering & Food Supplies 0 0
--------- ---------
Total 36,344 23,865

Note 1: During the year, the Charity has employed 4 people; the costs shown are gross pay less furlough payments received as part of the Government’s Job Retention Scheme, with payments made for tax and national insurance. There were no payments towards pensions.

Note 2: Included in this running cost is £570, payable to the reporting accountant for their external scrutiny.

Page 9 of 9

ndependenl examiner's report to the Trustees of Henley Community Centre Charity I report on ihe accaunts of the charily fur the year ended 31 March whiLh arc sel out on pages I to 12. Respective respon8lblllties of trustees and ¢x#mlncr -I'he charity s trusie¢s Are responsiblc for ihe preparation of the accounts. ThL charily s InistCCS C0115ider thai an audit i.s Iiot rcquired fur ihis ￿¥￿r under section 1441-) of ih¢ Chariiie5 Act ?0 I l (the 2011 Act) and Ihai dn independent examination is needed. It is my reswnsibilil). lu examinL the accounts under S￿li￿n 145 of ihe 2011 Acl- fnllnw the procedures laid down in Ihe (ieneral Direciions givcn by ih¢ Charily Lummission under section 14515Mb} ofihe ?[) I l Act: and state whether particular maitLrs hav¢ ¢ome lo my aneniion. Ba5L4 of Independent exAminer'q ￿port My examinaiion was caffied out in ac¢ordancc wilh ihe (ieneral Directions given bv th¢ Charity Ci)mmis%iun. An examinalion includes a revie￿. ofihc acLountinb7 f¢¢oTds k¢pi by the chariry and conipari%on nf the accounl.s prL'￿'llI¢d iih thus¢ records. li alsn includLS con%id¢raiion ()fany unusual it¢ins ()r disLI()surLs in ihe alcounts. and 4¢eking explanaiions frum N'uu &s ITusl¢es ¢on¢¢rning any such m¢ill¢rs. 'l-he procedures undertaken do not proi ide dll the evidence ihat would be required in an aiidil. and coi)sequentlv no opiiiinii is bYiWLll #5 Iv wh¢iher ihe accounts present a "tn and fair VILW and ihe report is limilLd iu thos¢ malt¢rs set out in Ihe slaiLII)Llii hL'Iuw. Independenl exAmlner's 5t*temtn( In coni)ectinn with my examinalion. no matter has come to my" afteiition whiLh bblVLS ML rL.￿nable cause to believe ihAI in. an￿ Tnalkrial respeLt. the r¢quiremenls.' tn keep pmper accounting rciords in aLLordance N'iih %eclioii 1.30 of tliL ?ll I I ALt.' and to prLpRr¢ h¢c()iin15 M,hich accord with ihe accnuniinb riLvrds und Lumplv w'iih the accounting requirements ofihe 101 l Aci HaN'e noi be¢n mei. or to wliiLh. iii m J. opinion. atlenlivn should ￿ drawn in order io engble a proper Underst￿lding7 ofihe accounts to be re8¢h¢d. Mrs I la). lej I ledges-Quinii fcA l)n t￿haIr of H.J. HLdgLS-Qiiinn & Co Lid Tlie ()Id A.stra Cinema Thi. Strccl Cjreat Bricett IP7 7DN Date..