REGISTERED COMPANY NUMBER: 07583537 (England and Wales) REGISTERED CIL4RITY NUMBER: 1155751 Re ort of the Trustees and Fiuancial Statements for the Year Ended 31 Mar b 2024 or Erfitrean Muslim Communi ollUK Acom an Limited b Guarantee Stan Kelly & Co Chartered Certified Accountants Suite 2, Wenta Business Centre l Electric Avenue Enfield EN3 7XU
Eritreatt Muslim Communi A550ciation UK Contents of the Financial Ststements for the Year Ended 31 March 2024 Page Report of the Trustee5 I to 5 Independent Examiner's Report Statement of Finaneial A¢tAvities Balance Sheet Notes to the Financial Statements 10 to 15 Detailed Statement of Financial Activities 16 to 17
Eritrean Muslim Communi Assoei tion UK ort of the Trustees for the Year Ended 31 March 2 Chairman's statsment Dear Membets and Friends of EMCA UK I trnst this rnessage finds each of you in good health and high spirits. I wanted to take a moment to reflect on the remarkabl¢ journey we've embarked on together as a charitable organisation and share some tNly exciting navs about how we're actively meeting the needs of our community. Over the past four months, we've had the privilege of witnessing rs¢-hand the powerful and positive impact that our collective efforts have had on the lives of those we serve. Through our diverse range of initiatives alld prograrns. we've touched the hearts and minds of countless individuals, offerfing them not just support but also a renewed sense of hope. It fills me with imrnense joy to announce that we've not only identified bul also effectively addressed the most pressing needs of our community. This accomplishment would not have been possible without the unwavering dedicaiion of our members, the invaluable contributions of our volunteers, the hard work of our dedicated staff, and the wisdom of our trustees. Together, we've channelled our resources toward projects that have made a profound and meaningful difference in the lives of those who need it most. From youth empowennent programs and educational workshops to nurturing parenting skills and fostering leadership development, we have strived to offer a cornprehensive range of assistallce. Our journey, bowever, is far from over. We remain committed to navigating the ever-evolving landscape of COTnmunity needs. for we understand that our work is an ongoing endeavour. As we face new challenges and opportunities. we will continue to do what we do best-serving our community with compassion, dedication, and an unwavering belief in th¢ power of positive change. Mr Ornar Nasser Chair of trustees Page I
Eritrean Muslim Communi Association UK ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AKD ACTIVITIES It is our privilege to present the amiual TLUStees' Report of EMCA UK do¢umenting the period from 1st April 2023 to 31st March 2024. This rep)rt outlines our responsibilities, achievements, and financial stewardship during this time. l. Overview of EMCA UK l. l Mission and Objectives EMCA UK'S mission revolves around community service and welfare. Our objectives include education, community development, and promoting social cohesion. 1.2 Governance Stsuctlwe EMCA UK operates under a dedicated board of trustees, wbo oversee the strategic direction, policies. and overall governance of the organization. We would like to acknowledge any changes or additions to th¢ board during the reporting period. 1.3 Gov¢rnance Policies We maintain robust governance policies and procedures, including those that ensure transparency, accountability, compliance with regulatory requirements. 2. Educational InitiAtlve$ 2.1 The Previous set of ffitee5 managed to successfully incorporate the new EMCA Quran academy in Septernber 2023 which recently completed its first academic year. As with any new endeavour, it faced a unique set of challenges and will continue to improve under the next set of trustees. 2.2 LEctur¢s & Talks EMCA UK organIze enriching lectures aT)d talks durlng the reporting period, providing valuable insights to our community members. 3. Community Engagement 3.1 Activities & Courses EMCA UK conducted over 30 activities and courses, catering to various int¢rests and needs within our community. These included CRAVITY, Youth Leadership Program, Coral Reef Water Worl Football Programs. Oxygen, Quran Competition Ceremony, Henna & Beauty Workshops, Open Skate, Flipout Adventures, and Parenting Courses. 3.2 Educational Courses Ollr organization offered a L7nge of educational courses, including Mental Toughness Training, Leadership DevelopmenL Emotions Management. Relationship Building. Domestic Violence Awareness. and Parenting Workshops. 3.3 Youth Engagement The Youth Parliament provided young people with opportUTJities to represent their voices and contribute to social change. 4. Achievements and Additional Initiatives 4.1 Embedding EMCA'S 8 Principles of Safeguarding?EMCA UK is committed to embedding the 8 Principles of Safeguarding, including Leadership. Integrity, Equality, Diversity and Inclusion. Empowennenl, Prevention, Protection, Partnership, and Openness and Accountability, into our daily work to ensure the safety and well-being of our community mcmb¢rs. Page 2
Erlt an Muslim Communi Association UK ort of the Trustees for they ar Ended 31 March 2 4.2 Summer Family Camp (Partly Achieved) Progress has been made in expanding our Summer Family Camp to cre&te memorable experiences frir all Paclpants. 4.3 Parenling Courses (Partly Achieved) Our parenting courses have had a positive impacL and we will continue to enhance and expand our offerings. 4.4 Leadership Program (Started a Year Program) Our leadership progrdm h&$ ¢ommenceQ providing valuable leadership development opportunities for our Children and Young People. 4.5 Youth Club {Started, Ongoing) Our youth club is providing a safe and engaging sp&¢e for our young members to learn and grow. 4.6 Graduation Ceremony We are planning a memorable graduation ceremony to celebrnte the achievements of our members and their commithient to personal growth. 4.7 Women Quran Classes Our commitment to education and spiritual growth continued in December 2022 with the launch of Wornen QuraD Classes. These classes provided a valuable opportunity for women in our community to deepen their understanding of the Qurdn and strengthen their faith. We witnessed significant participation and engagement, highlighting the importan¢¢ of this initiative. 4.8 Eid Paty for Women We celebrated an Eid Paty for women, a joyful and inclusive gathering that honoured the significance of Eid in OUT community. The event provided an opportunity for women to come together, share experiences, and streng¢hen bonds of friendship and sisterhocml. It was a heart-wamling and mernorable occasion.?4.15 Professional Network. We aim to create a professional network within our community, fostering career development opportunilies. 4.9 Parentlng Consultation Siarting The launch of our parenting consultation program will Provide ongoing support to parents facing cballenges and seeking guidance. 4.10 Building Plans Advisory Group (COBRA) (Achiev¢d) The COBRA advisory group has been successfully established to oversee building plans and development projects. 5. COmmnity Outreach Programs 5.1 Rallall Food Parcels and Iftar Our dedication to diversity and con]munity support extends to outreach programs. During Ramadan, we distributed 250 food parcels to low-income families in the community and providcd daily iftar during Ramth in the centre, empllasizillg ittelusivity and unity. EMCA'S reach also extends globally. Ls we respond disasters like earthquakes, provtding aid and support to affected regions. These objectives represent OUT unwavering conmii1ment to the betternllt of our QTganization and the well-being of our membets. We invite your valuable feedback and support as we work together to achieve these goals. Your participation and engagement are instrumental in our sleSS. Page 3
Eritrean Muslim Communi Association UK ort of the Trustees for the Year End March 2024 6. Awards and Re¢ognition EMCA UK has been recognized for its outstanding contributions to the cornmunity. We were nominated and short listed for tbe "Best Youth Service Award in the UK" at the Beacon Mosque Awards, a testament to our dedication to serving the community. This accolade reflects the d¢dication of our DrnbCrS, volunteers, and supportth's in creating a positiv¢ impact. 7. Conclusion In ¢onclusion, the EMCA UK board of trnstees extends heartfelt gratitude to our MeMbS and stakeholders for their tntst and support. Special thanks to our fimder for the roof repair and to our g¢nerous funder for the ten¢ which has in¢ased our prayer capacity. As we advance. our commitment to community service, cultural pride, education, and unity remains steadfast. We deq)ly value your essential role in our jowney and look fonvard to another year of growth and impactfijl initiatives. Your participation and engagement are CTu¢ial to our success. FINALYCIAL REVIEW Fillancial posltlon During the year, the total income generated was £345,623 { 2023: £328.820). The charity made a surplus of £30,352 for the year ended 31 March 2024 (2023: surplus of £68.658). After taking account of the operations , the charitys available fi]nds stood at £1,558,717 for the year ended 31 March 2024 { £1,528,365 as at 31 March 2023). STRUCTURE, GOVERNIINCE AND MANAGEMENT Governing document The charity is controlled by its governing docum¢nL a deed of trusl and constite$ a limit¢d company, litnited by guarantee, as defined by the Companies Act 2006. REFERENCE AND AD[NISTML4TIVE DETAILS Registered Company number 07583537 (EngId and Wales) Registered Charity number Il55751 Registered otnee 283 - 291 Wandsworth Road London SW8 2ND Trustees Mr Ali Abdu Chair of Tn]stees (resigned 15.2.24) Mr Monir Malik Trcasurer (resigned 15.2.24) Ms Amira Osman Secretary {resigned 31.10.23) Mr Omar HassatL Nasser Chair of Trustees (appointed 15.2.24) Mr Khaled Han]id Trustee {appointed 15.2.24) M8 Mariam BasheT Harris Trustee (appointed 15.2.24) NJr Keir Ahmed Saleh Trustee (appointed 15.2.24) Ms Nasra Hussein Mohamed Trustee (appointed 15.2.24) Page 4
Eritrean Muslim ommuni Association UK ort of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAJLS Independent Examiner Dr Emmanuel OLoke, FCCA Stan Kelly & Co Chartered Certified Accountants Suite 2, Wenta Business Centre l Electric Avenue Enfield EN3 7XU Bankers Barclays Bank 127 Edgware Road London W2 2HT This report has been prepared in a¢¢ordan¢e with the special provisions of Part 15 of the Companies Act 2006 relating to small compaDieS. Approved by order of the board of tnteeS on 14 July 2024 and sIA¢d on its behalf by: Mr Omar Hassan NLsser- Trustee Page 5
Inde Eritr endent Examiner's Re an Muslim Communi ort to the Trustees of sociation UK Independent examiner's report to the trustees of Erltrean Muslim Community Association UK ('the Company,) I report to tbe charity knistees on my examination of the accounts of the Company for thc ycar cnded 31 March 2024. Respon51bilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Cornpanies Act 2006 {'the 2006 Act). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out ullder Se¢tion 145 of the Charities Aet 2011 ('the 2011 Act,). Jn carrying out my extirnination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiller's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirn] that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Ac¢ounLints, which 18 one of the listed bodies. I have completed my examination. l eonfinn tbat no matters have come to my attention in connection with the exarnination giving n]e cause to believe". accounting records were not kept ill respect of the Cornpany as required by Section 386 of the 2006 ACL or the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a and fair view which is not a matter considered as part of all independent examination; or the accounts have not been prepared in accordance with the m¢thods and principles of the Statement of Recomrnended Practice for aceowiting and reporting by charities (applicable to charities preparing their accounts in aceordanee with the Financxal Reporting StaTLdard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no otbeT matters in connection with the examination to which attention should be drawn irj this rcport in order to enable a proper understanding of the accounts to be reached. Dr Ernmanuel Oloke, FCCA Stan Kelly & Co Chartered Certified Accountants Suite 2, Wenta Business Centre l Electric Avenue Enfield EN3 7XU 14 July 2024 Page 6
Eritrean Muslim Communi Association UK Statement of Financial Activities for the Year Ended l March 2024 31.324 Total fulld$ 31.3.23 Total fimds as restated Unr¢stricted knd Restricted fiu]d Notes INCOME AND ENDOWMEP4TS FROM Donations and legacies 307,562 307562 300,384 Other income 38,061 38,061 28,436 Total 345,623 345,623 328.820 EXPENDITURE ON Charitable activities General 95,882 95182 74,514 Other 219J89 219,389 185.648 Total 315,271 315,271 260,162 NET INCOME 30J52 30J52 68,658 RECONCILIATION OF FUNDS Total funds brougbt fonvard 1,528J65 lJ28J65 1,459,707 TOTAL FUNDS CARRIED FORWARD lJ58,717 1,551717 ,528,365 The notes forn] part of these fm2ncial statements Page 7
ErStre2n Muslim Communi Association UK Balance Sheet 31 Mar 31.3.24 Total funds 31.3.23 Total fimds as restated Unrestricted fulld Restrictcd fillid Notes FIXED ASSETS Tangible assets 1,33A014 lJ36,OJ4 1,335,399 CURRENT ASSETS Debtors Cash at bank and in hand 3J04 248,450 3,304 248,450 209,124 251.754 251,754 209,124 CREDITORS Amoullts falling due within one year io {29,051) (29,051) {16.158) NET CURRENT ASSETS 222,703 222,703 192,966 TOTAL ASSETS LESS CURRENT LIABILITIES 1,558,717 1058,717 1,528,365 IYET ASSETS 1.558,717 I58,717 1,528,365 FUNDS Unrestricted fimds 12 1,55&717 1,528,365 TOTAL FUNDS 1,558,717 1,528,365 The ¢haritable company is entitled to exernption from audit under Section 479A of the Companies Act 2006 relating to subsidiary charitable companies for the yeaT ended 31 Marcb 2024. The members have not required the company to obtain an audit of its fmancial ststements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The tNst¢es acknowledge their tesponsibilities for (a) ensuring that the charitable Company keeps accountt'ng records that comply with Sethions 386 and 387 of the Companies Act 2006 and preparing [ClaI statemeDts which give a true and fair view of the state of affairs of the Charitable company as at tbe end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Compatiies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes fonn part of these financial stafrrnents Page 8 continued...
Eritrean Muslim Communi Assoeiation UK Balanee Sheet- continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 14 July 2024 and were signed on its behalf by.. Mr Hassall Nasser- Trust¢ Mr Keir Ahmed Saleh- Ttee The notes forni part of these financial statements Page 9
Eritrean Muslitn Communi Association UK Notes to the Flnaneial Ststements for the Year Ended 31 March 2024 ACCOUNTING POLICIES BasRs of preparing the fjuancial statements The financial ststements of the charitsble companyj which is a public bellefit entity under FRS 102, have been Prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Rep)rting by Charities: Statement of R¢¢omrnended Practice applicable to chaTitie8 preping their accounts in accordance with the Financial R4K)rting Standard applicable in the UK Imd Republic of Ireland (FRS 102) (effedive l January 2019),, Financial Rewrtillg Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2(K)6. The financial statements have been prepared under the historical ci)st convention. Income All income is recognised in ttLe Statement of Finan¢ial Activities once the charity has entitlem¢rAt to the funds. it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expendiNr¢ as soon as ther¢ is a legal or constrnctive obligation ¢ommittÈng the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can b¢ me&sured reliably. Expenditure is accounted for on an aCcTrlS basis and has been classified under headings that aggregat¢ all Gost 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 Se of resources. Tangible fixed assets Depreciation is provided at tbe following annual rates in order tr> write off each &sset over its ¢StiTnated useful lif¢. Plant and machinery Fixtures and fittings 200/0 on cost 200/0 on cost Taxation The c]Mity is exempt from coryoration on it5 charitable activities. Fund aeeountiJJg Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the tnte¢s. Restricted fw]ds can only be used for particuIar restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fijnds are raised forparticular restricted purposes. Further explanation of the nature and purpose of each fund is included in the nofrs to the financial statements. Pension eosts and other post-retirement benefits Th¢ Charitable company operntes a defjned contribution pension scheme. Contributions payable to tb¢ ¢l)aritabl¢ companys pension schemc arc chaTg¢d to the Statement of Financial Activities in the period which they relatr. Page 10 continued...
Eritrean Muslim Communi Association UK Notss to the Financial Statements- continued for the Year Ended 31 March 2024 IYET INCOMEIIEXPENDITURE) Net incomel(expenditure) is stated after charging/(crediting): 31.3.24 31.3.23 as resLqted Depreciation- owned assets 3,479 2,661 AUDITORS, REMUNERATION 31.324 31.3.23 as restated Fees payable to tbe cllarity's auditor for the audit of the clwity's financial slatements 1,2(M) 1.938 TRUSTEES, REMUNERATION AYJ D BENEFITS Th¢r¢ were no trustees, remuneration or olher benefils for the y¢ar ended 31 March 2024 nor foT the year ended 31 Mch 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly number of employees during the year was as follows.. 31J.24 31.3.23 as restated Administration and support No employees received emoluments in excess of £60.0(K). COMPARATIVES FOR THE STATEMENT OF FANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds as restated INCOME AND EIYDOWMEIYTS FROM Donations and legacies 3.384 300,384 Other income 28,436 28.436 Total 328,820 328,820 EXPENDITURE ON Charitable activities General 74,514 74,514 Pagell continued...
Eritrean Muslim Communi Association UK Notes to the Financial Statements- continued for the Year Ende 31 March 2024 COMPAIL4TIVES FOR TEtE sTATElENT OF FINANCIAL AcfIvITIES . continued UJ]restri¢t¢d Rcstricted fund fimd Total funds as restated Other 185,648 185,648 Total 260,162 260,162 NET INCOME 68,658 68,658 RECONCJLIATION OF FUNDS Total (unds brought fOard As previously reported Prior year adjustment 1,462,803 (3,096) 1,462,803 (3,096) As restated 1,459,707 1,459,707 TOTAL FUNDS CARRIED FORWARD 1,528,365 1,528,365 PRIOR YEAR ADJUSTMENT The Scouts group's registered narne is 17th Lambeth Scouts group which is an independent children group Teporting to the Scout Association UK. The bank balance of £3,096.84 as at 31 March 2023 belonng to the Scout 0Up included in the financial statements of EMCA for the year ended 31 March 2022 was transferred out of EMCA charity fmancial accounting alld reporting as at 31 March 2023. This was recogtiised as grant income in year 2022 but was reversed as prior year adjustment in the financial statements for the year ended 31 March 2023. Page 12 continued...
Eritrean Muslim Communi Association UK Notes to the Financial Statsments- Continued r the Year Ended 31 Mareh 2024 TANGIBLE FIXED ASSETS Fixture5 Freehold propety Plant and machinery fittings Totals COST At l April 2023 Additions lJ26233 6519 1,164 6,785 2,930 lJ39,537 4.094 At 31 March 2024 lJ26,233 9,715 lJ43,631 DEPRECTIoN At l April 2023 Charge for year 2,484 1,536 1,654 1,943 4,138 3,479 At 31 March 2024 4,020 3.597 7,617 NET BOOK VALUE At 31 March 2024 ,326,233 3,663 6,118 lJ36,014 At 31 March 2023 1,326.233 4,035 5,131 1.335,399 DEBTORS: AMOUNfs FALLtNG DUE WITHIN ONE YEAR 31J24 31.3.23 as restated Prepayments and accrued income 3J04 io. CREDrroRS: AMOUNfs FALLING DUE WITHIN ONE YEAR 31J24 31.3.23 as restated Other loans (see note I l) Social security and oth¢r taxes Salaries control Accrued consultancy fees AccNed expenses 15,150 669 6,431 5,601 1200 15,150 1.008 29,051 16,158 Page 13 Continu..
Eritrean Muslim Communi Association UK Nots5 to the Finaneial Statements- continued ror the Year Ended 31 March 2024 ii. LOANS AJI analysis of the matilrity of loans is given below: 31.3.24 31.3.23 as restated ATnounts falling due within one year on demand: M¢mb¢rs loan 15,150 15,150 12. MOVEMENT IN FUNDS Net movement in fund8 At 31.3.24 At 1.4.23 Unrestricted funds General fimd 1,528J65 30J52 1,558,717 TOTAL FUNDS 1,528J65 30J52 1,55&717 Net mov¢ment in funds, included in the above are as follows.. Incoming sources Resources expended Movement in funds Unrestrieted funds General fund 345,623 (315,271) 30J52 TOTAL FUNDS 345,623 (315271) 30J52 Comparatives for movement in funds Prior Net ovcmcnt in funds At 31.3.23 At 1.4.22 adjustrllent Unrestricted funds General fund 1,462,803 (3,096) 68.658 1.528,365 TOTAL FUNDS 1,462,803 (3,096) 68,658 1,528,365 Page 14 continued...
Eritrean mU]m Communi Association UK Notes to the Financial Statements- continued for the Year Ended 31 March 2024 12. MOVEMENT IN FUNDS- continued Comparative net rnovement in funds, included in the above are as follows: Incoming resources Resources expended Movement in ndS Unrestricted funds General fimd 328,820 (260,162) 68,658 TOTAL FUNDS 328,820 (260,162) 68,658 13. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 15
Eritrean Muslim Cotnmuni Associati Detailed Statement of Financial Activities for the Year End l March 2024 31.3.24 31.3.23 as restated Donations and legacies Gifts Donations Grants Subscriptions Rent R¢c¢ivable Sundry income Mis¢ellaneous income 183,016 50,424 2,285 61,254 4.430 6,152 162,508 52,370 1,896 71,194 9,303 3.110 307562 300,384 Other income Quran academy Youth retr¢at donation Food parcel Jitso Income 33J49 3,344 11,374 4,106 9,403 3,553 lJ68 3&061 28,436 Total ineoming resources 345.623 328.820 EXPENDITURE Charitable aetivities Wages Social security Pensions 72J97 46,138 2,669 174 826 73,223 48,981 Other Professional fees Wastage Health and security Maintenance 2nd repairs Recruitment, training & HR Khatiba-prayer8 VolUnr expenses Festivities, expenses Website, media and internet Travel and subsistence Carried forward 35,115 1,777 1,018 7,215 1,759 IA75 8,408 15918 3J49 8.935 84,969 38,335 1,224 3,491 6.937 I,(H)8 15,312 2.915 6,511 6.121 7.784 89,638 This page does not fonn part of the statutory fmancial statements Page 16
Eritrean Muslim Communi Association UK Detailed Statement of Financial Activities for the Year Ended 31 Mareh 2024 31.3.24 31.3.23 as restated Other Brought fornard Cleaning cost Rent and hall hire Children and youth life skills Subscriptions and memberships Advertisement and publicity Ramadan and Eid expenses Quran acaderny expenses Food parcel Zamzam water Donations Books and library Jio Jitso activity Consultancy - Academy Plant and rnachinery Fixthr¢s and fittings 84,969 4,610 5,511 26,912 391 296 20J97 769 2,4(Kl 25 117 10,238 2,406 50,868 1,537 1,943 89,638 418 3,303 47,533 416 40 5,719 12.141 6,640 11.440 4,691 1,304 1,357 219J89 184,640 Support costs Management Rates and water Insuranc¢ Lit and heat Telephone Postage and stationery 4,557 2,624 6,346 607 942 1939 5,613 251 I,IM4 11.451 15,076 Finallce Bank ¢harg¢s Credit card charges 1,088 2,775 495 3,822 3,863 4,317 Otber Business rates 4.415 5.210 Governance costs Auditors, remunerntion Payroll & Book keeping Valuation expenses 1,200 1080 350 1.938 2,930 1,938 TotaI resources expended 315271 260,162 Net income 30J52 68,658 This page does not fonn part of the statutory financial statements Page 17