## **THE VOICE THAT MAKES A DIFFERENCE**
REPORT OF THE TRUSTEES AND CHARITY ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
## **Charity Number 1151890**
## **REID & CO CORPORATE SERVICES LIMITED**
Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
## **THE VOICE THAT MAKES A DIFFERENCE**
## **CONTENTS OF THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees Annual Report|**Error:**|
|**Reference source not foundError: Reference source not found**||
|Statement of Financial Activities (incorporating the||
|income and expenditure account)|**76**|
|Balance sheet|**87**|
|Notes to the fnancial statements|**108**|
## **THE VOICE THAT MAKES A DIFFERENCE**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
The trustees, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 March 2021
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Registered charity name: The Voice That Makes a Difference
Charity registration number 1151890
Principal office 18 Saint Leonards Court Northampton NN4 8BL
The trustees
The trustees who served the company during the period were as follows:
Mr D Pedley Mrs P McGovern Ms R A O'Malley MBE
Accountants:
Reid & Co Corporate Services Limited 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Governing document
The charity is controlled by its governing document, a ‘deed of trust’ and constitutes an unincorporated charity.
## Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have developed a risk management strategy that involves a regular review of key risks faced by the charity and the establishment of systems and procedures to address those potential risks and to minimise any impact on the charity if the risks materialize.
**- 1 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
## COVID-19
We follow all the government guidelines and ensure that we have the right equipment to safeguard ourselves and the people we work with.
## Data protection
We have always been well aware of our responsibilities with regard to personal data that we hold and will continue to do this. In light of the new General Data Protection Regulation (GDPR) we are updating our processes and procedures. The trustees continually monitor how information we store is kept and used.
## **OBJECTIVES AND ACTIVITIES**
The charity is focused on children and young adults who are deaf or blind and those who may have other disabilities. Our aim is to eliminate the boundaries faced by deaf or blind children on a day to day basis. We provide screenings of the latest films at cinemas using total communication ie combining sign language, subtitles, sound and audio description. We run computer courses providing information in specialised formats to cater to specific impairments. We also run drama, animation music and education based workshops as well as providing counselling and mentoring to the young deaf or blind.
## **ACHIEVEMENTS AND PERFORMANCE**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
## Performance
At the present time we are only doing signed films in schools or at youth groups. This is giving the children the opportunity to talk about how much easier it is to have a sign language interpreter there. They explain that they often feel left out because they do not understand either the humour in the film or when someone tells a joke in it. It is very difficult for them to work out what it means. At the moment parents are incredibly unwilling to allow their children to go back into the cinema. We have been doing educational projects with the parents to enable them to see that the cinema is a safe place to be because they follow all the government precautions and as long as we also follow the guidelines there should be no problems. We hope that in the future we will be able to convince parents to reconsider the situation. We are constantly updating them about what is happening and are looking at different ideas to help us present information so that the parents feel more relaxed about their children going to the cinema.
We are still in the process of running a number of workshops for children with disabilities to develop their personal life skills. COVID-19 has caused major mental health issues and this has meant that the workshops have to be in very small groups and often done by Zoom. The children we are working with are incredibly vulnerable at the moment and find the fact that COVID-19 has taken
**- 2 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
some many lives very disturbing. Our workshops have continually been developing and our young people have been keen to put forward their ideas and were proud when their ideas were then the subjects of the workshops. Some of the young people found it difficult when we talked about safeguarding and protection. The majority of our workshop leaders have some form of disability.
A lot of our children come from poorer backgrounds so poverty is familiar to them and often they suffer from depression and low self-esteem. We have run workshops for them so that they can see their own qualities and believe in themselves.
The provision of food parcels has become an important part of our work. Poverty is a major issue for parents because they’ve had to have children off school for a long period of time and because of the incidence of COVID-19 infections in schools it has meant that their children are off on a regular basis. This means they need to provide extra food and heating. It has been such a major issue that we have teamed up with another organisation so that we can give families we work with food parcels. We do this on a Thursday and for a lot of our families they would not be able to survive without these food parcels. Everyone’s life has changed drastically and our views on life have also have changed. It is important that the needs of disabled children are not ignored.
## Future plans
The COVID-19 crisis has changed accessibility and social inclusion will be a major challenge for all of us. It is important that organisations like ours be at the forefront of research in this area. We need to look into different ways of enabling disabled children to interact safely and take part in society. The social side is an incredibly important part of this because of their mental health.
We are keen to continue the National Lottery funded project: ‘Enabling not Disabling’. We are looking into methods of enabling disabled children to take part in social interaction. We are in negotiation with the National Lottery about supporting disabled children throughout this crisis. Since the COVID-19 outbreak people’s lives have been turned upside down and research will be needed to find ways to ensure that disabled children are not excluded from social interaction.
Disabled schools have already put forward some ideas to us. Obviously these ideas would need to be tested. One of their suggestions is that disabled children still have total communication films but the signer would either be in another room or we will be placed in the film.
Social workers, carers, parents and families are incredibly anxious about what effect COVID-19 has had on their disabled children’s mental health. This has been incredibly damaging and it is important that we help them.
Having workshops that could be run remotely, whereby the children and support staff would video link to us and we would run the workshops from a distance has been very important and we will still use this format. We would provide the necessary materials for the workshop beforehand. These have been some of the
**- 3 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
many suggestions that we have been given. These disabled children do you not want to lose out.
## **FINANCIAL REVIEW**
## Equipment
We keep an up-to-date record of all forms of equipment so that this information can be used for forward planning and budgeting for all new equipment when there is a need for replacement. All the equipment is checked by professionals and reviewed to see whether it needs replacing or updating. We are looking for grants to update our computer equipment. Our equipment is well used and people are trained to use it.
## Reserves
The Voice That Makes a Difference is aiming to build up a reserve of at least 5 to10 thousand pounds over the next five years. This will be done by fund raising. The trustees intend to invest the fund reserve in the most appropriate manner and will look to use an investment manager to invest in a mixture of equities, treasury bonds and cash. The investment objective would be to obtain long term capital growth. Raising reserves is very important because of the economic climate and it is harder to obtain grants and donations because more charities are competing for less resources. This situation has been exacerbated because of the Covid-19 crisis.
## **ACCOUNTANTS**
Reid & Co are deemed to be re-appointed under section 487(2) of the Companies Act 2006.
Signed on behalf of the trustees
D Pedley Chair of Trustees
........................
**- 4 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **YEAR ENDED 31 MARCH 2021**
I report on the accounts for the year ended 31 March 2021 set out on pages 7 to 15.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this period (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- To keep accounting records in accordance with Section 130 of the 2011 Act; and
- To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Reid & Co. Corporate Services Ltd 4a Bramley Road Mount Farm Milton Keynes
**- 5 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
# **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2021**
MK1 1PT
Date: ........................................
**- 6 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **YEAR ENDED 31 MARCH 2021**
|||||||**Unrestric**|
|---|---|---|---|---|---|---|
|||||**Restricte**||**ted and**|
|||||**d Fixed**|**Total**|**Total**|
|||**Unrestric**|**Restricte**|**Asset**|**Funds**|**Funds**|
|||**ted Funds**|**d Funds**|**Funds**|**2021**|**2020**|
||**Not**|**£**|**£**|**£**|**£**||
||**e**|||||**£**|
|**INCOMING**|||||||
|**RESOURCES**|||||||
|Incoming resources|||||||
|from generating funds:|||||||
|Voluntary income|2|50,574|-||50,574||
|2||||||**49,942**|
|||-------------------------------|-------------------------------|-------------------------------
|-------------------------------|-------------------------------|
|**TOTAL INCOMING**
**RESOURCES**||**50,574**|**-**||**50,574**|**49,942**|
|||-------------------------------|-------------------------------|-------------------------------
|-------------------------------|-------------------------------|
|**RESOURCES**|||||||
|**EXPENDED**|||||||
|**Charitable activities**|||||||
|Costs of charitable|3|13,183|||13,183||
|events||||||10,651|
|Other resources||16,274||1,200|17,474||
|expended||||||24,164|
||||||------------------------------||
|||-------------------------------|-------------------------------|-------------------------------|-|-------------------------------|
|**TOTAL RESOURCES**
**EXPENDED**||**29,457**|**-**|**1,200**|**30.657**|**34,815**|
|||-------------------------------|-------------------------------|-------------------------------
|-------------------------------|-------------------------------|
|**NET INCOMING**
**RESOURCES**||**21,117**|**-**|**(1,200)**|**19,917**|**15,127**|
|||-------------------------------|-------------------------------|-------------------------------
|-------------------------------|-------------------------------|
|**TOTAL FUNDS**
**CARRIED FORWARD**||**21,117**|**-**|**(1,200)**|**19,917**|**15,127**|
|||==============|==============|==============|==============|==============|
|||==============|==============|==============|==============|==============|
|||===|===|===|===|===|
**- 7 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **BALANCE SHEET**
## **31 MARCH 2021**
||||**2021**|2020|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**FIXED ASSETS**|||||
|Tangible assets|**6**||**5,413**|7,218|
|**CURRENT ASSETS**|||||
|Cash at bank||**42,288**||20,011|
|Debtors|**7**||**-**|555|
|||--------------------------||----------------|
|||**42,288**||20,566|
|**CREDITORS: Amounts falling due**|||||
|**within one year**|**8**|**(1,200)**||(1,200)|
|||--------------------------||----------------|
|**NET CURRENT ASSETS/(LIABILITIES)**|||**41,088**|19,366|
||||--------------------------|--------------------------|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**46,501**|26,584|
||||--------------------------4|--------------------------|
|**NET ASSETS**|||**46,501**|26,584|
||||==============|==============|
||||============|============|
|**FUNDS**|||||
|Unrestricted income funds|**9**||**(9,813)**|4,444|
|Restricted funds|**9**||**52,714**|17,340|
|Restricted fxed asset funds|**9**||**3,600**|6,400|
||||-------------------------------|-------------------------------|
|**TOTAL FUNDS**|||**46,501**|26,584|
||||==============|==============|
||||==============|==============|
||||===|===|
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the members of the committee and authorised for issue on the 22/12/2021...and are signed on their behalf by:
**The notes on pages 8 to 14 form part of these financial statements.**
**- 8 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **BALANCE SHEET**
## **31 MARCH 2021**
**Note**
**£**
**----- Start of picture text -----**
2021
**----- End of picture text -----**
2020 **£** £
Mr D Pedley Director
**The notes on pages 8 to 14 form part of these financial statements.**
**- 9 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
**NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of accounting**
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ (effective 1 January 2015), the Charities Act 2011 and the requirement of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015).
The accounts are presented in sterling, which is the functional currency of the charity.
The charity meets the definition of a public benefit entity under FRS 102.
## **Transition to FRS 102**
The charity transitioned from previous UK GAAP to FRS 102 as at 1 April 2016. Details of how FRS 102 has affected the reported financial position and financial performance are given in note 13.
## **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.
The value of gifts in kind and donated goods provided to the charity are recognised at their open market value in the period to which they relate. An equivalent amount is included as expenditure under the relevant heading in the Statement of Financial Activities, except where the donated good is a fixed asset in which case the amount is included in the appropriate fixed asset category and depreciated over its useful economic life in accordance with the charity’s policies.
## **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.
## **Taxation**
The charity is exempt from 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 objectives of the charity.
**- 10 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
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.
## **Cash and cash equivalents**
Cash and cash equivalents are short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Tangible fixed assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
## **Financial Instruments**
Financial assets and liabilities are recognised on the Balance Sheet when the charity has become a party to the contractual provisions of the instrument.
## **Going concern**
These financial statements have been prepared on a going concern basis.
## **Accounting judgements and estimates**
In the process of applying the accounting policies, the Trustees have made judgements, assumptions and estimates about the carrying amount of assets and liabilities.
## **Judgements**
Assets are reviewed for impairment where there are indicators of impairment. The carrying amounts of tangible assets are reviewed and an impairment loss is recognised where the carrying amounts exceed the assets’ recoverable amount.
## **Estimates**
Deprecation rates are reviewed at the end of each reporting period to ensure these remain appropriate.
## **2. VOLUNTARY INCOME**
**- 11 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
||**Unrestric**|**Restricte**|**Total**|Total|
|---|---|---|---|---|
||**ted**|**d Funds**|**Funds**|Funds|
||**Funds**||**2021**|2020|
||**£**|**£**|**£**|£|
|Lottery grant|35,374||35,374|-,|
|Voluntary donations|15,200||15,200|44,942|
|Gifts in kind||||5,000|
||-----------------------------|-----------------------------|-------------------------------|-----------------------------|
|**Total income resources**||**-**|**50,574**||
||**50,574**|||**49,942**|
|||=|||
||==============|==============|==============|==============|
||==============|==============|==============|==============|
||===|==|===|===|
## **3. COSTS OF CHARITABLE EVENTS**
||**Unrestric**|**Restricte**|**Total**|Total|
|---|---|---|---|---|
||**ted**|**d Funds**|**Funds**|Funds|
||**Funds**||**2021**|2020|
||**£**|**£**|**£**|£|
|Interpreting and workshop costs|13,183|-|13,183|10.651|
||==============|==============|==============|=============|
||==============|==============|==============|=============|
||===|===|===|=====|
## **4. NET INCOMING RESOURCES**
Net income for the year is stated after charging:
|Net income for the year is stated after charging:|||
|---|---|---|
||**2021**|2020|
||**£**|£|
|Accountants and Independent Examiners fees|**1.200**|600|
|Depreciation|**1,804**|2,406|
||==============|==============|
||============|============|
## **5. TRUSTEES’ REMUNERATION AND BENEFITS**
There were no trustees’ remuneration or other benefits for the period ended 31 March 2021 and no expenses were reimbursed (2020: £Nil).
## **6. TANGIBLE FIXED ASSETS**
## **Equipment**
## **COST**
**- 12 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
At 1 April 2020 **21,674** ----------------------------- **At 31 March 2021 21,674** =============================== **DEPRECIATION** At 1 April 2020 **14,457** Charge for the year 1,804 ----------------------------- **At 31 March 2021 16,261** =============================== **NET BOOK VALUE At 31 March 2021 5,413** =============================== At 31 March 2020 7,217 ===============================
## **7. DEBTORS: Amounts falling due within one year**
|||||**2021**|2020|
|---|---|---|---|---|---|
|||||**£**|£|
||Prepayments|||**-**|555|
|||||==============|==============|
|||||============|============|
|**.**|**CREDITORS:** **Amounts falling due within one**|||**year**||
|||||**2021**|2020|
|||||**£**|£|
||Accruals|||**1,200**|1,200|
|||||--------------------------|----------------|
|||||**1,200**|1,200|
|||||==============|==============|
|||||============|==|
|**.**|**MOVEMENT IN FUNDS**|||||
||Net movement in funds, are|as follows:||||
|||**Balanc**|**Incomi**|**Resour**|**Balanc**|
|||**e b/fwd**|**ng**|**ces**|**e**|
||||**resour**|**expend**|**c/fwd**|
||||**ces**|**ed**||
|||**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General fund||4,444|35,374|(14.257)|**2,561**|
|**Restricted funds**||17.340|||**17,3**|
||||||**40**|
## **8. CREDITORS: Amounts falling due within one year**
## **9. MOVEMENT IN FUNDS**
**- 13 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
|**Restricted fxed asset**
**funds**|4,800||(1,200)|**3,600**|
|---|---|---|---|---|
||------------------------------|------------------------------|------------------------------|**----------------------------**|
|**TOTAL FUNDS**|26,584|35,374|-15,457|**46,50**|
|||||**1**|
||===========|===========|===========|==========|
||===========|===========|===========|==========|
||=========|=========|=========|==========|
|||||=|
## **10. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||**Unrestric**|**Restricte**|**Total**|Total|
|---|---|---|---|---|
||**ted**|**d Funds**|**Funds**|Funds|
||**Funds**||**2021**|2020|
||**£**|**£**|**£**|£|
|||||,|
|Fixed assets|1,813|3,600|5,413|7,218|
|Current assets|42,288||20,566|20,566|
|Current liabilities|(1,200)||(1,200)|(1,200)|
||-----------------------------|-----------------------------|-------------------------------|-----------------------------|
|**Balance at 31 March 2021**|**42,901**|**3,600**|**46,501**|**26,584**|
|||=|||
||==============|==============|==============|===========|
||==============|==============|==============|===========|
||===|==|===|=========|
The restricted fund includes restricted fixed asset funds of £4,800 (2020: £4,800) relating to donated fixed assets.
## **11. ANALYSIS OF RESTRICTED FUNDS**
Enabling not Disabling
|**NDS**||||||
|---|---|---|---|---|---|
||||||**At 31**|
|**At 1**|||||**Marc**|
|**April**
**Incom**||**Expendit**||**Transfe**|**h**|
|**2020**|**e**||**ure**|**rs**|**2021**|
|**£**|**£**||**£**|**£**|£|
|17,340|||-|-|17,340|
|-----------------------------|-----------------------------||-----------------------------|-----------------------------
-----------------------------||
|17,340|||-|**-**|17,340|
|==========|=========|||==========
=========||
|==========|=========||=|==========
=========||
|==========|=========
===============|||==========
=========||
|==||===============||||
**- 14 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
# **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
## **12. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the current or prior year.
## **13. TRANSITION TO FRS 102**
These are the first financial statements that comply with FRS 102. The charity transitioned to FRS 102 on 1 April 2016.
No transitional adjustments to the financial results were required.
**----- Start of picture text -----**
2021 2020
£ £
INCOMING RESOURCES
Voluntary income
Donations 50,57 44,94
4 2
Gifts in kind - 5,000
Total incoming resources 50,57 49,94
4 2
RESOURCES EXPENDED
Charitable activities
Interpreting and workshop 13,18 10,65
costs 3 1
13,18 10,65
3 1
Support costs
Office rent - 5,000
Teambuilding and 642 774
training
**----- End of picture text -----**
**- 15 -**
## **THE VOICE THAT MAKES A DIFFERENCE**
## **NOTES TO THE CHARITY ACCOUNTS**
## **YEAR ENDED 31 MARCH 2021**
**----- Start of picture text -----**
Insurance and 4,528 735
repairs
Postage, stationery and other office 3,637 8,832
costs
Subscriptions 4,750 4,411
Accountancy 1,200 600
Travel 913 1,407
Depreciation 1,80 2,406
4
17,47 24,16
4 4
Total resources expended 34,81
30,65 5
7
(Deficit)/Sur 19,91 15,12
plus 7 7
**----- End of picture text -----**
## **14. DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**- 16 -**