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2023-06-30-accounts

BROMSGROVE INTERNATIONAL MUSICIANS’ COMPETITION

Annual Report for the Year Ended 30 June 2023

The Bromsgrove International Musicians’ Competition was established as a separate Trust in 2013 after its predecessor, the Bromsgrove Festival Young Musicians’ Platform was last held in April 2013. A new Board of Trustees was appointed and a partnership was formed with Bromsgrove School, which generously offered to host the Competition in future and to provide accommodation for the competitors and adjudicators.

2023 saw the International Competition and the Young Musicians’ Platform running again along more usual lines.

The Platform Competition continued its success as a national competition holding its auditions in February. The number of entrants from all over the UK were increased and the quality was exceptional. The International Competition was moved in the calendar to take place in early June. Once again, we attracted a very strong field of competitors, over 50, who entered the ‘virtual’ adjudication round.

The Platform Final was held on the same day as the International Competition Final and proved a great success, much enjoyed by all who attended.

In the year the Trustees received donations and other financial support totalling £36,190, and generated further income from ticket sales and competitor fees of £3,114. The competition operating costs for the year totalled £37,594. This resulted in a net surplus in unrestricted funds of £1,710. The total overall movement in funds mean that the net assets of the charity at the year - end stood at £1,929.

As stated last year, it is inevitable that with the downturn in investment income that our supportive trusts and charities are suffering that our grant income will be adversely and significantly affected in the coming years until the economy recovers. So plans for 2024 and beyond need to see us rebuild our funds so that we can reduce our reliance on sponsorship and grants. After much deliberation, the Trustees decided that the International Competition would move to a bi-annual footing. This was not only to save funds and allow us to rebuild them, but also to keep a ‘fresh’ interest in the Competition. We also intend to reignite our stalled collaboration with other important music organisations in the Midlands for outreach educational work to see a love of classical music amongst those musically talented who either do not or cannot readily access music teaching.

The Trustees are most grateful to all of our current donors that generously provide funding for the Competition.

Prof David Saint

Chairman of the Trustees

BROMSGROVE INTERNATIONAL MUSICIANS
COMPETITION
BROMSGROVE INTERNATIONAL MUSICIANS
COMPETITION
BROMSGROVE INTERNATIONAL MUSICIANS
COMPETITION
Charity No
(if any)
1155544 CC17a
Annual accounts for theperiod
Period start date 7/1/2022 To Period end
date
6/30/2023
Section A Statement of financial activities
Note
Incoming resources (Note 3)
Voluntary income
S01
Activities for generating funds
S02
Investment income
S03
S04
Other incoming resources
S05
Total incoming resources
S06
Resources expended (Notes 4-8)
Costs of Generating Funds
S07
Fundraising trading costs
S08
Investment management costs
S09
Charitable activities
S10
Governance costs
S11
Other resources expended
S12
Total resources expended
S13
S14
Gross transfers between funds
S15
S16
S17
Gains and losses on investment assets
S18
Net movement in funds
S19
Total funds brought forward
S20
Total funds carried forward
S21
Recommended
categories by activity
Details of own
analysis
Incoming resources from
generated funds
Incoming resources from
charitable activities
Costs of generating voluntary
income
Net incoming/(outgoing) resources before
transfers
Net incoming/(outgoing) resources before
other recognised gains/(losses)
Other recognised gains/(losses)
Gains and losses on revaluation of fixed assets
for the charity’s own use
£
£
£
£
£
F01
F02
F03
F04
F05
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this
year
Total last
year
36,190 - - 36,190 16,335
3,114 - - 3,114 2,744
- - - - -
- - - - -
- - - - -
- - - - -
39,304 - - 39,304 19,079
- - - - -
- - - - -
37,594 - - 37,594 36,968
- - - - -
- - - - -
- - - - -
- - - - -
37,594 - - 37,594 36,968
1,710 - - 1,710 - 17,889
- - - - -
1,710 - - 1,710 - 17,889
- - - - -
- - - - -
1,710 - - 1,710 - 17,889
219 - - 219 18,108
1,929 - - 1,929 219

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Section B Balance sheet

Note
Fixed assets
Tangible assets (Note 9)
B01
B02
Investments (Note 10)
B03
Total fixed assets
B04
Current assets
Stock and work in progress
B05
Debtors (Note 11)
B06
(Short term) investments
B07
Cash at bank and in hand
B08
Total current assets
B09
B10
Net current assets/(liabilities)
B11
Total assets less current liabilities
B12
B13
Provisions for liabilities and charges
B14
Net assets
B15
Funds of the Charity
Unrestricted funds
B16
B17
B18
B19
Total funds
B20
Creditors: amounts falling due within
one year (Note 12)
Creditors: amounts falling due after
one year (Note 12)
Restricted income funds (Note 13)
Endowment funds(Note 13)
Signed by one or two trustees on behalf of all
the trustees
Note
Fixed assets
Tangible assets (Note 9)
B01
B02
Investments (Note 10)
B03
Total fixed assets
B04
Current assets
Stock and work in progress
B05
Debtors (Note 11)
B06
(Short term) investments
B07
Cash at bank and in hand
B08
Total current assets
B09
B10
Net current assets/(liabilities)
B11
Total assets less current liabilities
B12
B13
Provisions for liabilities and charges
B14
Net assets
B15
Funds of the Charity
Unrestricted funds
B16
B17
B18
B19
Total funds
B20
Creditors: amounts falling due within
one year (Note 12)
Creditors: amounts falling due after
one year (Note 12)
Restricted income funds (Note 13)
Endowment funds(Note 13)
Signed by one or two trustees on behalf of all
the trustees
£
F01
Unrestricted
funds
£
F02

Restricted
income
funds
£
F03
Endowment
funds
£
£
F04
F05
Total this
year
Total last
year
£
£
F04
F05
Total this
year
Total last
year
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
4,745 - - 4,745 5,195
- - - - -
23,034 - - 23,034 19,302
27,779 - - 27,779 24,497
25,850 - - 25,850 24,278
1,929 - - 1,929 219
1,929 - - 1,929 219
- - - - -
- - - - -
1,929 - - 1,929 219
- - 219
- - -
- - -
- - -
- - - - 219
Signature Print Name
Date of
approval
Lesley Brookes 11/9/2023

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Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

• and with* Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

[** except for the following].

Give details in this box if a different standard has been followed.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

Give details in this box of any material changes that have been made.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§§ except for the following).

Give details in this box of any material changes that have been made.

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Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources · the charity becomes entitled to the resources;
· the trustees are virtually certain they will receive the resources; and
· the monetary value can be measured with sufficient reliability.
Incoming resources with Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on donations Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts which they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when
receivable.
Donated services and These are only included in incoming resources (with an equivalent amount in resources
facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and
material_._The value placed on these resources is the estimated value to the charity of the
service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from
revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the
charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee
meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance Where the charity gives a grant with conditions for its payment being a specific level of service
conditions or output to be provided, such grants are only recognised in the SoFA once the recipient of the
grant has provided the specified service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made and there are
performance conditions no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost categories on a
basis consistent with the use of resources, eg allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity are valued at cost or a reasonable value on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the year
end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress These are valued at the lower of cost or market value.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE

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Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Voluntary income
Activities for generating funds
Investment income
Incoming resources from
charitable activities
Analysis
This year
Last year
£
£
Analysis
This year
Last year
£
£
Analysis
This year
Last year
£
£
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -

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Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts.

Charitable activities
Governance costs
Costs of generating
voluntary income
Fundraising trading
costs
Investment
management costs
Analysis
This year
Last year
£
£
Analysis
This year
Last year
£
£
Analysis
This year
Last year
£
£
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
Total - -

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Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

support costs.
Support cost type Fundraising activity
£
Charitable Activity
£
Governance Activity
£
Total Cost
£
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total - - - -

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

This year Last year
Number of trustees who were paid expenses
Nature of the expenses
Total amount paid £ £

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Independent examiner’s or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor

This year
£
Last year
£

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Section C Notes to the accounts (cont)

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1 Staff Costs

Gross wages, salaries and benefits in kind
Employer’s National Insurance costs
Pension costs
Total staff costs
7.2 Average number of full-time equivalent employees in the year
Fundraising
Charitable Activities
Governance
Other
Total
The parts of the charity in which the
employees work
Gross wages, salaries and benefits in kind
Employer’s National Insurance costs
Pension costs
Total staff costs
7.2 Average number of full-time equivalent employees in the year
Fundraising
Charitable Activities
Governance
Other
Total
The parts of the charity in which the
employees work
This year
£
Last year
£
- -
- -
- -
- -
nt employees in the year This year
Number
Last year
Number
Fundraising - -
Charitable Activities - -
Governance - -
Other - -
Total - -

7.3 Defined contribution pension scheme

Please complete if a defined contribution pension scheme is operated. Brief details of the scheme

This year Last year £ £ The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

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Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

8.1 Total value of grants
Purpose for whichgrants made Total amount £
Grants to
institutions
Total amount £
Grants to
individuals
- -
- -
- -
- -
- -
- -
**Total ** - -

8.1 Grantmaking costs

If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.

Support costs of grantmaking

£

8.3 Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

institutions supported.
Names of institutions Purpose Total amount of
grantspaid £
-
-
-
-
-
-
-
-
-
-
**Total grants to institutions ** -

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Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Total
£
£
£
£
£
£
- - - - - -
Additions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers
- - - - - -
- - - - - -
9.2 Accumulated depreciation and impairment provisions
Basis*
SL or RB
SL or RB
SL or RB
SL or RB
SL or RB
Rate
- - - - - -
- - - - - -
Impairment provisions - - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers
- - - - - -
- - - - - -
9.3 Net book value
Brought forward
- - - - - -
Carried forward
- - - - - -
Freehold land
& buildings
Other land &
buildings
Plant,
machinery
and motor
vehicles
Fixtures,
fittings and
equipment
Payments on
account and
assets under
construction*
Balance brought
forward
Balance carried
forward
Balance brought
forward
Depreciation charge
for year
Balance carried
forward
£
Freehold land
& buildings
£
Other land &
buildings
£
Plant,
machinery
and motor
vehicles
£
Fixtures,
fittings and
equipment
£
Payments on
account and
assets under
construction
Total
£
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Section C Notes to the accounts (cont)

Note 10 Investment assets

Please complete this note if the charity has any investment assets.

10.1 Fixed assets investments

Carrying (market) value at beginning of year
Carrying (market) value at end of year
Add:additions to investments at cost
Less:disposals at carrying value
Add/(deduct):net gain/(loss) on revaluation
£
-
-
-
-
-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Analysis of investments
Cash held as part of the investment portfolio
Total
Investment properties
Investments listed on a recognised stock exchange or held in common
investment funds, open ended investment companies, unit trusts or other
collective investment schemes
Investments in subsidiary or connected undertakings and companies
Securities not listed on a recognised Stock Exchange
Other investments
10.2
£
Market value at
year end
10.3
£
Income from
investments for
the year
- -
- -
- -
- -
- -
- -
- -

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investment held Market Value

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Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.
Analysis of debtors
This year
Last year
This year
Last year
£
£
£
£
Trade debtors
- - - -
- - - -
Other debtors
- - - -
Prepayments and accrued income
- - - -
Total - - - -
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts due from subsidiary and associated
undertakings
Please complete this note if the charity has any debtors or prepayments.
Analysis of debtors
This year
Last year
This year
Last year
£
£
£
£
Trade debtors
- - - -
- - - -
Other debtors
- - - -
Prepayments and accrued income
- - - -
Total - - - -
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts due from subsidiary and associated
undertakings
Please complete this note if the charity has any debtors or prepayments.
Analysis of debtors
This year
Last year
This year
Last year
£
£
£
£
Trade debtors
- - - -
- - - -
Other debtors
- - - -
Prepayments and accrued income
- - - -
Total - - - -
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts due from subsidiary and associated
undertakings
Please complete this note if the charity has any debtors or prepayments.
Analysis of debtors
This year
Last year
This year
Last year
£
£
£
£
Trade debtors
- - - -
- - - -
Other debtors
- - - -
Prepayments and accrued income
- - - -
Total - - - -
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts due from subsidiary and associated
undertakings
Please complete this note if the charity has any debtors or prepayments.
Analysis of debtors
This year
Last year
This year
Last year
£
£
£
£
Trade debtors
- - - -
- - - -
Other debtors
- - - -
Prepayments and accrued income
- - - -
Total - - - -
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts due from subsidiary and associated
undertakings

Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
This year
£
Last year
£
This year
£
Last year
£
- - - -
- - - -
- - - -
- - - -
- - - -

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

Loans and overdrafts
Trade creditors
Other creditors
Accruals and deferred income
Total
Amounts due to subsidiary and associated
undertakings
Amounts falling due
within oneyear
Amounts falling due
within oneyear
Amounts falling due after
more than oneyear
Amounts falling due after
more than oneyear
This year
£
Last year
£
This year
£
Last year
£
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

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Section C Notes to the accounts (cont)

Note 13 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

13.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

Type PE, EE Fund Name Purpose and Restrictions or R

13.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

Fund names £
Fund
balances
brought
forward
£
Incoming
resources
£
Outgoing
resources
Transfers
£
£
Gains and
losses
£
Fund
balances
carried
forward
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total Funds - - - - - -

13.3 Transfers between funds

Please give details of any transfers between funds.

From Fund (Name) To Fund (Name) Reason Amount

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Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee or connected party Legal authority (eg order,
governing document)
Amounts paid or benefit value Amounts paid or benefit value
This year
£
Last year
£

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Due to trustees and
related parties
Due from trustees
and related parties
Name of trustee or
connected party
Legal authority Amount owing Amount owing
This year
£
Last year
£

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

Name of the trustee
or relatedparty
Relationship to
charity
Description of the
transaction(s)
This year
£
Last year
£

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Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustee8 Biomsgfove International Musicians ComFetrtion On accounls for the year ended 3010612023 Charlty no (if any) IIS5544 Set oul on pages I report to the truslee8 w my examinatN)n of the acoiunts of the above charity (Ihe Trust) for the year ended Responsibilities and basls of raport As the chariiys truslees. you ale responsible for the preparalh?n of the accounts in accordance wilh the requirements of the Charilies Act 2011 (Ihe Ad"). I report ￿ respect ol my examination of the Trust's accounls carried out under section 145 of the 2011 Act and in carrying out my examinalion. I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent IThe charity's gross income exceeded £250,000 and l am qualified to examinels statement undertake the examination by being a qualified member of [insert nam8 of applicable listed bodyll. Delete ( J li applicable. I have ¢<xnFdeted rny examinat￿)n. I confirm Ihat no materlal matters have come to my attention in connection with the examination (other than that disclosed below") Yh¥ch gives me cause to believe thal in. any material resped.. Ihe accounling records were r¥)t kept in accordance with seclion 130 of the Charities Ad., or Ihe accounts did not accord wilh the accounliro records: or the accounts did not comply with Ihe applicable requirerrEnts concerning the fom) and Gontent of accounls set out in the Charities (Accounls and Repjrts) Regulations 2008 other Ihan any requirement Ihat the accounts 9ive a 'tfue and fair, view which is not a matter considered as part of an independent examination. I have no concerns arwj have come a￿0$$ no olher mattels in comection with the examination to %%thich altention should be drawn in this report in order to enaNe a woper underslanding of the accounts lo be reached. ' Please delete Ihe words in the brackets rflhey do not apply. Slgned: Date: Ill Name: LA IIC L Si i)ILnlPL Relevant professional qualiflcallon(s) or body CA IER Oct 2018

Ilf any): Addre¥•: Seclion B Disclosure cornplele Il the examiner needs to highlight material matters of concern (see CC32. Independent examinat+on of charity a¢count$: directions and idance for examiners). Glve here brlef detalls of any items that the examiner wishes to dlsclose. IER Oct 2018