Registered num ber
03094854
Radstock Museum
Report of the Trustees and unaudited Financial Statements
31 March 2024
Charity number: 1161573

Radstock Museum
Raport and flnanclal statements
Contents
Page
Chaimian's ￿port
Report of the trustees
Independent examiner's report
Statement of financial activities
Baknce sheet
10
SL*ernent of cash flows
11
Notes to the financial stslements
12-18
Detailed statement of financial activit¢es
19-20

Radstock Museum
Chalmian's Report
For the Year endlng 31 March 2024
This year has seen the Museum with an op8raling deficit over the 12-month period due, largely, to
increased energy costs and one-off costs relating to tho upkeep and maintenance of thè Grade 11
listed buikling which had been deferred from earlier years. In addition, the museum has incurred costs
relating to th8 upkeep of a detached. disused, toilet block, and to the sale of the toilet bk)ck by auction
in February 2024 {the proce8ds from which were received after the year end). Despit8 this, income
from admsssions, 8nd from tearoom sales, were up on the previous 12-month peTiod, atthough shop
sale5 were down on the corresponding period last year. Th8 museum's school visit programme
continues to run well. led by an enthusiastic team of volunteers, atthough income from such visits was
somewhat lower than last year, possibty reflecting pressure on school and househdd budgets.
Whtst the Museum had a disappoirrting return on ts investment portfolio in FY 2D22f23, we hav
since benefitted from improvements in global mafkets, with an increase of around £11.000 in the
value of the portfolio over the corresponding figure last year. However, with uncertainty again likely to
affect markets in the coming year the Truslees will continue to monitor and carry OLrt regular reviev*B
of the museum's investments with our financial adviser and m8ke ohanges when deemed ne￿Ssary.
The Trustee5 do not expect to withdraw any money from the museum's investrftents in tho ttoming
ve8r.
The Museum has benefrtied from 8 number of bequests and significant donations which wtll en8ble
some improvements to be made in the Mugeum. In addition. the museum is one of six charrties who
are expected to benefit from a substantial legacy when the a$5ets in a deceased estate are sold, most
likely, in the coming year.
As reported last year, energy prices have had a significant irnpact on the museum's operating
finances over the 12-month period following the ending of some very beneficial fixed rates in mid
2023. However, it IB expected that, with energy prices beginning to fall, the museum will benefit from
lower pd¢e$ in the coming year. In addition, as rèported last year, the Trustees have received a report
frcm the West of England Combined Authorty in which recornmendations are made for energy and
cart)on savings. The Trustees expect to implement some of those r8commendations over the coming
years, subject to adeq¢Jale funding being available.
The recruitment of a part time communlty engagement manager, fundad by a grant, was achieved In
FY 2022123 and the programme of Community Cafés has been maintsined with continuing succes5.
Additional volunteers have been recruited aThJ trained speciftcalty to assist with the njnning of the
cafés and funding continues into the next Financlal Year.
The Board of Trustees h8s seen one long4tanding Trustee stand down but following a recruitment
programme, thre8 additronal Irustee5 have been recruited, all bringing valuable skills to the Board.
This brings the total to seven which 18 considered to provide a balanced and manageable Board.
The Trustees are pleased to report that the museum's level of current cash assets exce&ls the stated
aim of maintainlng 6-12 months of budgeted expenditure and. overall, are satisfEd that the museum is
meeting all ts objectives,. 13 in a sound financrdl positlon and is able to weather the ttonomic
challenges of the coming year.
Simon Carter
Chalr Radstock Museum
8 July 2024
Page 3

Radstock Museum
Registerod numb8r:
Charity number:
03094854
1151573
Report of the Trustees
Forthe year endlng 31 Marth 2024
The twstees 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 March 2024.
Objectives and activltSes
Objectives and aims
The compan￿$ objects and prinGip81 activrtles aTe in the field of the advancement of educalion of
the public in the local area by the provision of a museum of local artefacts and other ilems of
historFC or public interest and supporting the charitable activities of Radstock Midsomer Norton and
District Museum Society.
structure, Govemance and Management
Govemlng document
The charity is controlled by Its governing document, a deed of trusl, and constitutes a limited
company, Ilmited by guarantee, as defi1￿1 by the Companies Act 2005.
Recrultment and appolntm•nt Df new trust•es
Under the requirements of the Memorandurn and Articles of Association the members of the board
of twstees are elected to serve at the Annual General Meeiing.
Achlevement and Performance
Charftable activities
The Report of the Chaiman is set out on paye 3.
Financlal Review
Prfnclpal fvnding sources
Income is generated by entrance fees and fundraising trading and is supported by voluntary grants
and donations.
Inv8st¢nentpolicy and objectives
The investment strategy is lo aim for medium term growth, Investments, which belong to Radstock
Museum, are managed by Oliver Financial Planning. It is not intènded to encash investments wrthin
the next financial year.
ReseNes Pollcy
The trustees have estsblished a polry that unrestricted funds not Committed or invested in tangible
fixed assets held by the charty should be no le5S than 8 months and no mofe than 12 months of the
budgeted expendrture. At this level they feel that Ihey would be able to continue the activities
of ihe charity in the event of 8 Signif￿nt drop in incoming resources whilst providing the necessary
time to arrange for the collection housed in Ihe Museum to be safeguarded. In addltion the Tnjstees
will maintain a designated fund of £60,000 which is held against the requirement to undertake major
work on the structure of the hlstoric Grade 2 listed building in whlch the Museum is housed.
Page 4

Radstock Museum
Registored number:
Charlty numbér.
03094854
1151S73
Report of the Trustees
For the year endlng 31 March 2024
Reference and Administratlve Detsils
Registered Company number
03094854 (EngFand and Wales)
Rwstered Charity number
1151573
Reglstered offlce
Radstock Museum
Waterloo Road
Radstock
BA3 3EP
Tn￿te8S
S N Carter
Ms J Britton
s J Newbury
Mr M J Crocker
Mr L Eyles
MrJ S D8 Beer
MrDSHart
Ms L K Morgan
Interim ChairlFadlitator
Resigned
17th Juty 2023
Appolnted 12th February 2024
Appointed 12th February 2024
Appointed 12th February 2024
Company Secretary
Mr M J Crocker
Independent Exanuner
Mr Metthew Porter FCA
Haines Watts
Enterprise House
Timbrell Street
Tro￿orIdge
Wiltshire
8A14 8PL
Solicitors
Thatcher & Hall8m
Island House
Midsomer Norton
Radstock
8A3 2HJ
Independent Flnandal Advlse
Oll*Er Financial Planning
98 Bay Tree Road
Bath
BA16NF
Page 5

Rad8tock hluseum
Registerod numb•r:
Charity number:
03094854
1151573
Report of the Trustees
For the year ondlng 31 March 2024
8anke
Unity Trust Bank Ptc
Nine Brindley Place
Birmingham
B12HB
Treasurer
L Eyles
hlanager
N Tumer
Curatorial Advls•r
S Clews
Ar¢hlte¢turalAdviser
R Taylor
Trustees. respon8ibllltles In r01atlon to tho flnanclal statements
The trustees (who are also directors of the charty for the Pu￿05eS of company law) are responsible
for preparing the Trustees, Annual Report and the financial statements in accordance wrth
applicable law and United Kingdorn A¢Gounting Standards (UK Generally Accepted Accounting
Pra¢ti¢e).
Company law ￿qUireS the trustees to prepare financial statements for each financial year, which
give a true and fair view of the state of affairs of the charrtable company and of the incoming
resour￿$ arKI application of resources. including the income and expenditure, of the Charitable
cwipany for that period. In preparing these financial statements, the trustees are required to..
select suttable aceounting poltcies and then apply them consistently,
ob8eNe the methods and principles in the Charities SORP,.
make judgements and estimates that are reawnable and prudent",
state whether applicable UK Accounting Standards have been followed, 8ubj8Ct to any matertal
departures disclosed and explained in the financial statements.,
prepare the financial statemenls on the going Goncern basis unl•$$ rt is inappropriate to
presume that the charttable Company will continue in q)eration.
Page 6

Radstock Museum
Regtstered numbèr:
Charity numbor:
03094854
1151S73
Report of the Trustees
For the year endlng 31 March 2024
The trustees are responsible for keeping adequate accounting records that disclose wilh
reasonable accuracy at any time the financial position of the charitable company and enable Ihem
lo ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safegu3rding th8 asséts of the charitable company and hence for taking reasonable
steps for the prevention and delection of fraud and other irregularities.
Statement as to disclosure to our IndepBndent Examiners
In so far as the trustees are aware at the time of approving our Iruslees, annual report..
there is no relevant informat￿n, being infom7alion needed by the examiner in connection with
preparing their ￿part, of which the charitable company's examiner is unaware,. an
the tN5tees have taken all steps Ihal they ought to have taken to make themselves aware of
any relevant inforrnalion and to eslablish that the examiner is aware of that irtfom81ion.
This report has been prepared in accordance wsth the Statement of Reeommended Practte -
Accounting and Reporting by chart1￿$.
Approved by order ol the board of trustees on.
and sHJned on ils behaFf by
s,A.e
SNCarter-
Pag8 7

Radstock Museum
For the year ended 31 March 2024
EXAMINER'S REPORT
Independent Examiner's Report to the Directors of Radstock Museum
This report on the financial statements of the Company for the year ended 31 March 2024, which are set out on
pages 3 to 20, is in respect of an examination carried out in accordan￿ with s.145 of the Charities Act 2011.
Respective responsibilities of the PCC and examiner
As the charity's Directors you are responsible for the preparation of the financial statements,. you consider that
the audit requirement of Regulations and s.145 of the Charities Act 2011 do not apply. It is my responsibility to
issue this report on those financial statements in accordance with the terms of the Regulations.
Basis of this report
My examination was carried out in accordan￿ with the General Directions given by the Charity Commission
under s.145(5) (b) of the Charities Act 2011. That examination includes a review of the accounting records kept
by the charity and a comparison of the accounts with those records. It also includes considering any unusual
items or disclosures in the financial statements and seeking explanations from you as trustees concerning any
such matters. The procedures undertaken do not provide all the evidence that WOLbld be required in an audit,
and consequently I do not express an audit opinion on the view given by the accounts.
Independent axaminer's ststement
In connection with my examination, no matter has come to my attention:
(1)
IDthich gives me reasonable cause to believe that in any material respect, the requirements
to keep accounting records in accordance with section 130 of the Charities Act 2011 and S386 of the
Companies Act 2006
to prepare financial statements, which accord with the accounting records and comply with the
requirements of the Charities Act 2011 and Regulations, and S396 of the Companies Act 2006 and
with the methods and principles of the Statement of Recommended Practice.. Accounting and
Reporting by Charities
have not been met., or
(2}
to which, in my opinion, attentions should be drawn in order to enable a proper understanding of the
accounts to be reached.
Name of Principal
Name of fimi
Relevant professional qualification or body
Address"
Mr Matthew Porter FCA
Haines Watts
ICAEW
Enterprise House, Timbrell Street, Trowbridge,
Itshire, BA14 8PL
A/4*k
9 July 2024
Page 8

Radstock Museum
ststement of Financial Activities
for the year ended 31 March 2024
Notes Unrestricted Restricted Total Funds Totsl Fun(ts
Funds
Funds
2024
2023
Income:
Donatlons and legacies
7,732
5.000
12,732
13,521
Income from charltable activltles
13,0S6
13,066
13,500
Other trading activitie5
33,432
33,432
31,787
Invastment Income
488
488
216
Totsl Income
18,066
59,024
Expenditure
Raising funds
Charitable activities
6,602
49,249
6,602
80,699
31,450
63,598
Total expendltur8
87,301
Net expendlture
Gainsl(losses} on investment
(14,199) {13,384)
(27,583)
(11,940)
11,153
11,153
(165)
Net movement in funds
13.046)
(13.384
(16,430)
(12.105)
Rèconclliation of funds
Total Funds brought forward
182,083
686,587
868,670
880.775
Transfer8 b￿4veen funds
1,204
{1,204>
Total Funds carrled forward
862 240
Page 9

Radstock Museum
Balance Sheat
as at 31 March 2024
Notes
2024
2023
Fixed assets
Tangible assets
Investments
654.219
112.415
669,454
101,595
766.634
771,049
Current assets
Stocks
Debtors
Cash at bank and in haNJ
5,487
8.334
75.585
89,406
5,790
3.946
89.147
98,883
Ci6dltors: amounts falllng du?
within one year
{3,800)
(1,262)
Not current assets
85,606
97,621
Total assets less current
liabilities
852.240
888,670
Net as8etg
852,240
868 670
Funds
11
Unrestricted funds
Restri¢led funds
180.241
671.999
182,083
886,587
Total Funds
852,240
868,670
The trustees are satisfied that the company is entitled to exemption from IP+e requirement to obtain
an audrt under section 477 of the Companies Act 2006.
The members ha￿ not required the company to Obtain an audit in accordar)ce with section 476 of
th6 Act.
The directorsnruslees acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect lo ac¢ountir,g records and the preparation of accounls,
Thè ac¢ourts havè b&n p￿pa￿d in aceordance with the provisions in Part 15 of the Companies Act
2006 applicable lo compan￿5 subjecl to the small ¢ompsnie3 regime.
These financial statements w8r& approved by the Truste8s on..
On behalf of the Trustees
Signature
Mame
S C8rter
Po$stion
Interim ChairlFaGilitator
Page 10

Radstock Museum
ststement of Cash Flow8
for the year ended 31 March 2024
2024
2023
Cash used in OPOMting activitie8
12
J13,5621
5,002
Net increase in cash
{13,562)
5,002
Cash 8t bat* and In hand1os$ overdrafts at 1 April
89,147
84,145
Cash at bank and In hand less overdrafts at 31 March
75,585
89,147
Consisting of..
Cash at bank and in harKI
75,585
75,585
89,147
89.147
Page11

Radstock Museum
Notes to the Accounts
for the year ended 31 Pllarch 2024
1 Prfnclple aecoundng poliGi06
The princpal accounting polici88 adoptad in the preparation of the financial statements are set out
below..
Basis of preparabon
The financrdl statements have been prepared in accordan￿ with Accounting and Reporting By
Charities: Statement of Recommended Practi￿ applicable to charities preparing their accounts in
accordance wrth the Financial Reporting Standard applicabk in the UK and Repubtic of Ireland
(FRS102} (effective 1 January 2019} (Charities SORP (FRS 102)). the Financral Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 20Cfj.
Furnl Accounting
Unrestrided funds are availabte for use at the discretion of the trustees in fvrtherance of the
general objectives of th8 chatity.
Designated funds are unrestncted funds eamiarked by the Management Committee for particular
purposes.
Restricted Funds 8re subjected to restrictions on thelr expenditure imposed by the donor or through
the tems of an appeal.
Incomlng Resources
All incoming resources are included in the statement of financld activities when the charity 18
entitled to the income and the amount can be quantified with r8a8onable accuracy. The following
specific policies are applied lo particular categories of income.
Voluntary income is received by ¥Ydy of grants, donations and gbfts and is induded in full in the
Statement of Financial Activitie6 when receivable. Grants, where entitlement is not conditKJnal on
the delivery of a Specif￿ performance by the charity. are ￿OgnISed Wh￿ the charty becomes
unconditionalw entrtled to the grant.
D(￿ated seNices and facilitles are included at the value to the charity vthere this can be quantifi￿1
The value of service5 PTovided ty volunteers has not been included in these accounts.
Investment income is included when receivable.
IncDming resources from charitable trading activity ar8 accounted for when eamed.
Incrxring rosour¢es from grants, where related to perfom)anrA and specific deltverables, are
accounted for as the charity earns the right to consideration by its performance.
Page 12

Radstock Museum
Notes to the Accounts
for the year ended 31 March 2024
Expendrture is recognised on an accrual basis as a liability is incurred. EXp￿id4tUre includes any
VAT vthich cannot be fully recovered.
Costs of generating funds comprtses those costs associated with attracting voluntary income and
the costs of trading for fvndraising purposes.
Charitable expenditure comprise8 th08é Costs incurred by the charity in the delivery of ils actbvities
and services for ¢is beneficiaries. It includes both ¢t)sts that can be allocated directly to such
activrties and those costs of an indir8Ct nabjre necessary to support them.
Governance ¢csts include those ￿$ts 8ssociated with meeling ihe constitutional and statLrtory
requirements of the chanly and include the examiner's fees and cosls link8d to the strategic
marwement of the charity.
All costs are allocated befvfftn the expenditure categories of the SOFA on a basis designed to
reflect the use of the resource. Costs relating to a particular actI￿ty are allocated directly. others are
apportioned on an appropriate basis.
Tangible fixed assets
DepreciatTron is provided at the follo￿ryn9 annual rates in order to write off each asset over its
estimated usefLbl lrfe.
Fr￿hOld propety
Fixiures and equipment
Fixtures and fittings
1.5% on cost
- 150/a on reducing balance
- 50h on reducing balance
D8PreCh9t￿n is not promded on the land element of freehold propety, valued at £100,000.
Stocks are valued at the bwer of cost and net realisable value, after making due allowan￿ for
obsolete and slow moving ttems.
Taxation
The crjmpany 15 exempt frcAn COrporat￿rt tax on its charitable activities onEy.
Fund accountlng
Unrestricted funds can be used in accordan￿ wilh the charltable objectives at the discréts'on of the
trustees.
Restricted funds can only be used for particular restrthd purposes wilhin the objects of the charity.
Restrictions arise when specified by the donor or when the funds a￿ raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statamentB.
Page 13

Ra(tstock Museum
Notes to the Accounts
for the year ended 31 March 2024
Hlre Purcha￿ and leaslng Commltments
Rentals paid under operating leases are charged to the Statement of Financial Activitss on
straight line basis over the period of the18as8.
Ponslons
The cwnpany operates a defined contribution pension scheme. Contributions are charged to the
income and expènditure account as théy become payable in accordance with the rules of the
schemè.
2 Income
Unrestrlcted Restrl¢t•d
Total
2024
Total
2023
Donatlons and legacles
Donations
7,732
5,000
12.732
13,521
TDtal donations and legacie8
Income from charftable activiti
Grants
13,066
13,066
13,500
Total income from charitable activities
13.066
I3,￿8
Other trading activities
Shop income
Tea rtjom income
Entrance fees
Journal publishing
Roorn hire
Talks servic8
Research income
6,837
4,803
18,334
1,435
450
1,518
6,837
4,803
18,334
1,435
450
1,518
55
8,277
4,078
16,636
1,687
805
304
Total othertrading acitwtie8
Investment inc¢>me
Income from listed investment
488
216
216
Total Income
Page 14

Radstock Museum
Notes to the Accounts
for the year ended 31 March 2024
3 Analysls of Exp•nditure
Unrestrlcted Restrlctod
Total
2024
Total
2023
Other tradlng expenses
6,602
6,602
7,366
Charitable actlvitie$
857
15,295
16,152
16,208
Manag8m8nt support costs
48,498
16.155
82,653
45,308
Govemance costs
1,894
1,894
2.082
Total expendlture
55,851
31,460
87,301
2023
4 Net Incomel(Expendltsire)
Net inGoryRI{expendiiure} 18 Stated after charglng:
Dep￿latIOn - owned assets
Other operating18as8s
15,236
15,457
6 Trustees. Remuneration, beneflts and ex￿￿885
There were no trustees, remuneration or other beneffts for the year endad 31 Mareh 2024 nor for
the year ended 31 March 2023.
There were no trustees, expenses paid for the year ended 31 Ma￿h 2024 nor for the year ended 31
March 2023.
Staff G05ts
The average monthty number of employees duriw the year was as
follows:
2024
2023
Pemianent
No employees received emoluments in excess of £60.000.
Page 15

Radstock Museum
Notes to the Accounts
for the year ended 31 March 2024
6 Tangible Fixed Assets
Freehokj Fixtures &
prop8ty equipment
Fixtures &
fittings
Totals
Cost
At 1 April 2023 and 31 March 2024
200,434 1,158,303
Depreclation
At 1 April 2023
Charg6 for the yaar
285.676
11.903
61,760
381
141.413
2,951
488,849
15,235
At 31 March 2024
297,579
62.141
144,364
504,084
Net Book Value
At 31 March 2024
595,988
2.161
56,070
654.219
At 31 March 2023
607 891
59,021
669,454
7 Fixed Asset Investmonts
Listed
Investments
Market Value
At 1 April 2023
101,592
Income - dlvidends and interest
Management charges
488
{818)
Revaluation
11,153
At 31 March 2024
112,415
8 Debtors
2024
2D23
Trade debtor5
VAT
Prepayments and accwed income
742
6,903
3,204
9 Credltorn: amount8 falllng due within one year
2024
2023
Trade creditors
Social s6curty other taxes
Accrued expenses
3,292
158
350
801
411
250
3,800
1,262
Page 16

Radstoek Museum
Notes to the Accounts
for the year #nded 31 March 2024
10 Oporatlng Leaso Commltments
2024
2023
Th8 following operating lease payTnents are committed to be paid
within one year:
Expiring..
BefvRen on8 and fr49 years
408
11 Movement in funds
1st April Recelvgd in
2023
year
utili6ed in
yaar
Balance 31st March
transfers
2024
Unrestrlcted funds
Deslgnated funds
Grade 2 Listed building refurbishment
60,000
60,000
General Fund
122,083
52,805
(55,850)
1,204
120,241
182,083
52,805
55.850
1,204
180,241
Restricted funds
Freehold land
Freehold buildings
Fixtures and equipmenl
Fixtures and f5ttings
100,000
507,884
363
47,610
100.000
495,981
252
4S,128
(11,903)
(111)
(2,482)
Wessex
Somer Valley
Friends of Radstock Museum
WestField Parish Council
St Johns
Thatcher & Hallam
Mid60mèr Norton tThvn council
Fairfield Trust
Big Local Fund- Nlght Silencing
266
337
573
327
11,470
803
360
1,379
221
2,469
1,725
950
4,850
337
573
327
4,670
803
360
(6,800)
(1,360)
(19)
221
2,469
1,725
950
4,850
Radstock Town Council
Hatker
Radstock Museum Society
950
(950)
072
(43T)
(1,210)
(3,944)
(1,202)
(2,000)
(235)
s,000
ROSH
Hughes
AIM
3,7SO
3,944
5.000
7,500
3,798
5,500
686,587
18,066
31,449
1,204
671,999
Page 17

Radstock Museum
Notes to the Accounts
for the year ended 31 March 2024
12 Reconciliation of n•t movement In funds to net cash Ilow from operating aCtr￿ltieS
2024
2023
Net Moverfftnl in funds
(16,430)
(12.105)
Adjustments for:
preciation
Movements on in¥estment
{Increase}IDecrea5e in Stock
(Increase)IDecrease in debtor8
Increasel{Decrease) in credltors
15,236
(10,822)
31)4
(4,388)
2.538
15,457
776
<555)
1.230
Net Cash used In operatlng actlvltles
13,562)
13 Relat•d party disclosure¥
There were no related paty transadions for the year ended 31st Marth 2024
Page 18

Radstock Museum
Detailed Statement of Financlal Actlvltles
for the year ended 31 March 2024
2024
2023
Income and Endowments
Donatlons and legacles
Donations
Gift aid
10,409
2,323
11,918
1,603
12.732
13,521
Other tradlng activitles
Shop income
Tea room income
Entran￿ fees
Journal publishing
Room hire
Talks servi¢e
R8search income
8,837
4,803
18,334
1,435
450
1,518
55
8,277
4,078
16,636
1,687
805
304
33.432
31,787
Investment Income
Income from listed investment
488
216
488
216
Charltsble actlvltles
Grants recelved
ROSH
AIM
Radstock Museum Society
Radstock Town Council
Hebron Medlock
BANES
wpc
3.944
7.500
672
950
5.200
1,800
5,000
1,000
500
13,500
Total ineorning resources
59,718
59,024
This page does not form part of Ihe statutrjry financial ststernents
Page 19

Radstock Museum
Detailed Statement of Financial Actlvlties
for the year ended 31 March 2024
2024
2023
Expendlture
Other trading actlv5tles
Shop expenses
Tea room expenses
Journal publishing
3,176
4,112
2,148
1,106
781
6,602
7,366
Charitable adivitie8
ConseNation of artefacts
Land and buildings - depreciation
Fixtures and equipment - depreciation
Fixtures and r￿l￿g8- depreciation
916
11,904
381
2.951
751
11,903
3,106
18,152
Support costs
Managemont
saaries and wages
Leased equipment
Water rates
Insurance
Light and heat
Telephone and intemet
Post, printing and stationery
Advertising and marketing
Sundries
Repairs and maintenance
Exhibition costs
Bank charges
Cleaning expenses
Pension costs
22,800
408
366
3,5BO
7,898
405
899
80
456
17,332
5,360
519
2,240
310
17,674
408
270
3,499
5,465
553
655
3,136
9,697
1,203
374
2,129
245
62,653
45.308
Govemance costs
Investment management
Independènt examination fees
Ac￿￿ntancY and legal fees
844
350
700
1,190
250
642
1,894
2,082
T¢)tal resource8 expended
87,301
70,964
Net deficit
(27,$83>
(11.940)
This page does not fomi part of the statutory financial Statements
Page 20