FURNESS RAILWAY TRUST Reglstered Charlty No. 1163073 Trustees, Annual Report and Accounts 2022 FURNESS RAILWAY TRUST (Rewtered CharAty No. 1163073) Addr&ss for cor￿Spondence. Meadowside, 105, Station Road. Cark-in.Cartmel, Grange-over-sands, Cumbria I￿1 7NY Annual Report of the Trustees for 2022 i. Govenwice and Administration The b￿SIne&S of the Furness Rai]way Th￿¢ a Charitable Incorpordted Organisation (CIO), is managed by Trustees in a(£ordance with a constitution approved by the Charity Conunission. The Chainnan is ￿$￿)nSibLe for coordinating the day to day management of the affairs of the Trnst. One third of the Th￿tee8 retire at each Annual General Meeting, in accordance with the constitution. A briefing document is given to new Trustee4 which oudin&s the hi.8tory of the Thjst and its current obligations. The dceument also details the reSpon￿bilItIeS of Trustees as defined by the Charity Commission. The Trustees meet on a number of (￿S1OnS throughout the year in order to manage the Th￿'S affairs and to agree reqUI￿d courses of action. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: ALrounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland i￿ued on the 14th July 2014. Financial Rep)rting Standard 102, and with the Charities Act 2011. The Trust's banker is The Co-operative Bank PO Box 250, Southway, Skelmersdale WN8 61￿. A savings account is al¥J held with the Furness Building Society, En]lyn Hush￿ House. Abbey Road, Barrow-in-Furn&8S, L414 5PQ. The Thist's Independent Examiner is J. Priestley Ac￿ CGV 24 Searborou8h 110gd. St. Jknnes, Lythxm St Annes. IAneAshire F¥8 3ES The following were the aptK)inted Trustees of the Furne&8 Railway Th during 2022". P. Balshaw (from ￿.09.2022) Brewer J. Dixon J.M. Kay Middleton S. Middleton (from ￿.09.22) T.D. Owen (Chairnw) M. Rigg DA Rimmer (unth 31.03.22) N.IL Smith P. van Zeller The above Trus￿ were Ewns￿le for preparing and approving this retx)rt. Page l of 4 3. Objectives andActtvitses A summary of the Object and Powers of the Furne&s Railway Trust is attached as Appendix A at the end of this re￿rL The principal activiti&s of the Furne&s Railwdy Trust (FRT) during 2022 were the acquisitio￿ restordtion and operation of historic itsms of r()lling st The Trustees worked to address the long tertu objective of the establishment of a railway tnuseum, with appropriate faeiIities for the display, storage and restoration of railway rolling stixk and a&sociated equipment In shaping the TrL￿t'S objectives, the Trusts￿ gave due considerdtion to the Charity Commission's guidance on public benefit with the object of advdncing education through its worl both in the short and longer tenn. The Trustees a]so t￿k into acix)unt the need to maxiw public aCc￿$1b]lIty to its a&8ets, some of which are unique and of major historical imp)rtance, indudÉng affordability wherever possible. 2022 saw a welcome ￿tllrn to norn?ality following the restrietions caused by the 2020 Covid pandemie. The Heritage Rail sector once more saw a strong demand for working steam l(thmotives with supply being outstripped by demand owing to enforLEd delays to overhaub caused by the pandemic. There was therefore welcome demand for the use of the Trust's Hunslet'Austeritye 0-6-oST locomotive, c￿mbria and Great Western Railway 0-6-2T locomotive No. 5643 which ￿ntinu￿ their hires to the Ernbsay & Bolton Abbey Steam Railway and the Fast iancashire Railway respectively. The historie Furn£ss Railway 0-4-0 locomotive No. 20 of 1863 made a well received visit to the Buckinghamshire Railway Centre in May as well as operating at its home base of the Ribble Steam Railway at Preston. It is imrxirtant to be able to restK)nd quick]y to any maintenanee issues that arisc on working locomotives. The Trust therefore found itself having to fund the re-tubing of c￿Mbria at short notice during the operating season and also undertook the re-knring of the valve liners and purchase of new valves for 5643. The latter Ii)comotive hauled its last pa￿nger trains on the 2* December before bein8 withdrawn from operational use UEK)n the expiry of its ten year kniler certificate. The I<￿0m0tive has subsequently returned to the FRfs base at Pr&ston to enable its overhaul to commen￿. G(KxI progress continues to ￿ made on the long-tenn restoration of Great Western Railway 4-6-0 'Hall' dass locomotive No. 4979 Wootton Hall. More pipework has been fitted to the Erf)iler and welding repairs made to the tender tank. Some Tr￿Jor and expensive (x>mponents remain to be purchased, but this expenditure has l*en put on hold until the full cost of the overhaul to 5643 is known. The overhaul of Peckett locomotive 0-4-0￿ Caliban has continued with time now ￿lD8 spent in locating pattenLS for mi&sing components. The tubes have been strIp￿d from the boiler and a non4estructive examination arranged which subsequentty turnd out to be favourdble. Considerable volunteer resou￿ has been (x>nsumed by the ongoing overhaul of Great Fastern RailM?y royal saloon No. 5 of 1898. Re-covering and painting of the roof and varnishing of the wooden Ixyjy been completed and work then f(￿￿Sed on the tIme-co￿Uming strippiug and varnishing of interior woodwork The fonner kitchen area is being refitted to modern sLqndards and new moquette and materiaLs fitted by the Trust's own volunteer WOr￿or￿. The restoration of the Th]st's diesel shunter 0-4-oDM 51￿haS taken a back seat to allow the restordtion of the royal coach to be concluded. The Trustees continue to search ￿r a repla(Yment engin4 the oriwal being beyond repair. Page 2 of 4 The restoration of former Furn￿ Railway locomotive No. 25 of 1865 is sthl at the planning stage whilst r&$Our￿ are alloc2ted to other projects and no significant progre&s ig eX￿tea in the llext year. The Trustees. annu81 Risks and Vulnerabilities Review Ix)ntinu&8 to identify the need to attract more volunteers and the Tr￿Stee5 conlinue to endeavour to grow the Thjst's workforce. All activities of the Furne&s RailwayTh]st are undertaken by volunteeTS. There are no paid staff employed by the TnL8L 5. Financnal Position Totsl inu)me, at £58,T37, was nearly forty per ￿￿t aEM>ve that of 2021 reflecting the strong recovery in Rolling Stock Hire. Expenditure on Charitable Activities also soared mainly on locomotive repairs and maintenance which rose from £6.696 in 2021 to £25,244 in 2022.The main causes were ex￿nditUre on the re-tu￿ of Cumbna and the re-bore and new valv&s on 5643. With steel prices soaring during the year, the oppor￿nIty was also taken to purchase tukn for 5649 in advance of its forthcoming boiler overhaul in 2023, which is principally resw)nsible for the rise in stocks from £1,848 to £11,331. The net current a&8ets of £239.230 at the year end put the Thtst in a good financial position to Commen￿ the overhaul of 5643 and also to eontinue work on its other projects. The TDJstees believe that, the Furness Railway Th￿,8 current finan continue to be satisfactory. There is an ongoing need to maintain an appropriate level of reserves to provide for future overhauls of the Trust'8 operational lo(x)motiv&s and coaches. Fundrdising will continue prirnarily for this purkN)se and also to fi]nd the longer terni restoration projects. 7. [￿10kIng Forward The major project in 2023 will be the overhaul of loujmotive No. 5643. The bjll extent and cost of the overhaul will only Ix(x)me clear once the locomotive is strip1￿ down and the IK)iler tested ultr&8onically. In the meantime the Trust's fiTran￿S will Ee heavily deFendent on the income strean]s from locomotives c￿mbria and Furness Railway No. 20, both of which already have booked work for 2023. Infiation continues to be a source of concern and will doubtle￿ impact on eurrent projeets ￿ expenditure eontrolg will remain in place to ensure that b&st value for money is obtained whilst allowing a measured level of progress on key restordtion projects. The FRT is heaiqly reliant utx)n its volunteer workforce to 0￿rats and to progress projects. The Tr￿SteeS wish to thank all mem1￿rS and followers ofthe FRT for their continued SUPEKJrt and generosity during 2022. The Trustees declare that they bave approved the Th]st￿, Report aly)v Neil Smlth 3rd May 2023 3rd May 2023 Page 3 of 4 Appendix A The object of the CIO i8 to ostablish a railway museum for the benefit of the publie and the CIO has power to do anything to further its obiecL in particular, the wwer to: (a) acquire and preser￿ rdilway I(￿Orn01ive8. railway carriages and other items of rolling stock and a&sociated equipmenL (b) restore and maintain such items, house them and put them on display. loan or hire them so that they may be used, if prdcticable, and make suitable anw￿eMellts for their a)ntinued prnrwation as far as is p)ssible. (c) sponsor the publication of Erfx)ks, artic]&s etc. containing inforniation about these itetns and rolling stock and railways generally, and otherwise to promote interest in these subjects. (d) Procure contributions to the CIO by perKJnal or written apFta]s, pub]ic meetings or otherwise. (e) employ and remunerate such staff as are ne(￿ for carrying Out the work of the CIO. (e) buy, take on lease or in exchange, hi￿ or other•vise acquire any propety and to maintain and equip it for use. (g) sell, lease or otherwise dist￿ of all or any part of the property belonging to the CIO. (h) borrow money and to charge the whole or any part of its property as security for the repa￿ent of the money bortowe Page4 of 4 FURNESS RAILWAY TRUST Registered Charity No. 11630n Accounts for the 12 Months Ended 31st December 2022 Statement of Financial Activitles 2022 UnrO¥trlct•d Fund• 2021 Tot#1 Fund* Not•$ INCOMING RESOURCES Incomlng R•sOur￿9 3 Incom8 and Endowm•nts from: 4 DonatlonslLega¢ie$ and Tax Rxov•rth• S Charitable Actswli¢s 6 Other TradSng Actiwtl•s 7 Investment8 Other TotAI Incomlng Ro•ourc 7,943 49,400 597 776 21 58,n7 8,323 33,202 739 L•*• RESOURCES EXPENDED 8 Expendllure on: 9 Raising Funds l O Charitablg Activiti 11 Govemance Total Rejourcm Expended 816 27.401 217 46,592 271 N•1 In¢omW{Exp•ndllur•l Tran8ltsr8 8trhveèn lunds N*t Mcw•rn•At In Fund* R•con¢lll•llon of Funds Totsl Funds Brought Fo￿ard 514,3n $00,$38 Total Funds Carrled Forwwd 514,3 Page 1 FURNESS RAILWAY TRUST R•glster•d Chartty No. 1163073 NotOS Balance Sheet as at 31 st December 2022 2022 Unrostrlcted Fundg 2021 Total Fund8 Fix•d Assots: 13 Tangible Assets 14 Heritage Assets Total Flxod Asao18 183.161 106.296 289.457 189,020 106.296 295,316 Currenl A88818: 15 Stock 16 Debtors Cash ai Bank Cash In Hand Total Curront A898ts 11.331 22.450 218,032 21.554 206,355 229,817 17 CredlloT8: amounts due wrthin ono yr. Not Current AMet•l(Llabllltle*) 8,150 221,667 239.230 Total Assats léss Curr•nl Llabllltleg 17 Cr•dltors: amounts due after one yr. 12.5691 12,610} Total Not As$ots 526 118 514,373 Funds ol the Charlty: Total Funds 8roughl Forward Add Net Incoming Resources 514,373 11,745 500,538 13,835 Toial Fund• is at 31.112022 526118 514 373 TIM Owen Chairrnan 2rt1 May %YI3 Ne51 Smlth S￿retsry 3rd May 2tr13 Pagg 2 FURNESS RAILWAY TRUST Regbtered Chartty 11631173 Notes to the Accounts-12 Monlhs ErHled 31 st December 2022 N(*e i Basls of Accountlng The accounts are tor the sixth lull year ol cyeiahon ol th8 new Chantable InCorF￿rated Organisation Furness Railway Trust 1163073 vthich took over th$ asstrts and operalions of tho uni￿rated Fumess Railway Trust Registered Chanty 1005211 trorn the 1st December 2015. Th¢ a¢¢aunts have been Prepared in a￿orda￿￿e valh the Statement of Recornmended Pracb'ce: Accountlng and Rewrting by CharitSes preparfng thelr acccwJnts In accordance vAth the Rnanclal Rèporting Standard aFplicabl8 in the UK arKI Republ￿ ol Ireland IFRS1021 issued on 16th July 2014. Flnan¢lal ReF4)rtiNJ Standard 102, aNJ *1th th9 Charfi* Affl 2011. The accounts have been prepared on th8 basis that the unineorporatgd and CIO ¢harrfias ha mgrpgd. as defined in the Statemenl of Recommended Practice. Th&so accounts have btsn kYepar¥d und8r th• htslori¢al ¢osl Con￿1)I10n ￿th Il•m$ r8¢ognls•d at C05t or tranaction vdu• unk986 othemse 5tat8d in the r816vanl noteolsl to these accounls. Th& Fumo8$ Railway Trusl con5thut•8 a wblk bentsfft ertity as dtsllrwÈ by FRS 102 Thos8 aceount$ hav• bo•n prnpared on th• basls th* the Fumèss Raifr*ay Trusl 1$ a golng concwn after taking into account tho currgnl aThY anticipated18wls ol aclivity, Nots2 Accountlng Pollcy Income Incoming Resources, Incjudlng grants. are account•d for on a rn¢•ivabkn bas*. Th& valug of donatsd goods Is r•cOgnIs￿ onty on ulg bfjcau￿ of th• prod¢￿tti•S ol m&asurirvJ the value ol such goods. Goods donated lor ongoiw use by thè charity arè r8¢ognisèd as tangible as80ts induded in th& Siat$m?nl ol Financial Activities as In¢omlng rosou￿ whgn ro¢gfvablè. The value of any vohjntary help received is ntst 11K￿ded in1h¥ a¢¢ounts Is dwribad in th• Trustees, Annual A8port. Expondlture Rt50urees Expend￿ arè accounted lor on an accruals basls ano include recognition ol li&bilitse8 arising from legal or constructive obligabon cornmits Ihe organisation lo expenditure. Certaln supw)rt costs Ilnsurance a￿1 Printing, Stationery, Postage) are awortioned actlvltle5 based. where poss*)b. on klw (y)st drivw* Governancg Costs are shown separatety for the pUTr￿se ot clarity aryl, contrary 19 the SORP. not sproad across actiwts8s because Ihey are dilfjcult to allocate and arg rnat+ri￿ in sizè. Page 3 Tanglble and fix￿ ass•ts for uso by tho charlty A long term she<1 lease, purchasod In 2019. is E￿Ing on a strwght line basi$ over 50 y&ws. A ptsrtablé bulkling al￿ fixed safvty gèxr •rtr tel￿j depreoaied on a $tr#vJhi line basis ov•r 15 yèars. Plant and Equiprnent assels purchased can be used for more than one year are wtalisad and depreciated on a straight bne basts at a rate of 25% rm annum. Assets purchased after 1st December 2015 are onty cawfalise(l rf ¢08t £21)0 Of more. Herltage Assets Heritage Assets are sho1￿ on the balance sheet ot cost or, in the c&%e ol donated Ttem8. realistic valug 931Trrnaled at the tim¢ of ¢bJnalJ"on. An &xwtK*n has b•en made lor Furnes5 Raihvay N¢*. 20. ￿￿111 1863. This historic loc0r￿tiVe uniq￿. diffuth to value and is not INelud8d", thèr• has approxiMat￿Y £748.0￿ spent on it. Th8 Trust's ￿llectiOn and DisrA)sal Pollcy slates ihat thèr*"shoukl ba a prèsumpllon agalnst disFosal.- Grants received of £111.(X)o would potenilalty bg rgpayat49 ￿ thls wa8 sokj. Stocks Stocks are valued at the le58eT of Cost or 1•co￿rabl* vak*. D•bloY* Debtors lincludiry tra(le debtcA¥ bgns r8c•Nablel ar• rnoasured on inilial Tecognrbon at sgttlement amounl after any Iradg diseounts. Subsowonty thoy aro m￿ur0d at the cash or otl)or ¢orssMdoration owe¢ted lo ￿ rac•NOd. Cr•dltora Cr8dilors ar8 rnoasurod at tran￿￿On prfco. Note 3 AnaI￿lS ol Ineom• Unr•*trid•d Fund* Total Funds Nott 4 Donatloni Ind Leg*¢l¢• Donalions and Gilts Legac￿5 Gift Aid Mernbershlp Subs¢TlPtions Totsl 5,327 5,432 1.213 1,403 7,943 1,491 1,400 Note S Charftabl• Aellvltl•• Rolling Siock Hire Book Sal Othèr Income Tot•1 49.4LKI 31.702 1.500 33.202 Not¢ 6 Other Tradlng Actlvbtl Fundraising Sal8S Proc8gds Irom Livo Steam Donated Goods WothfftT 176 228 110 81 597 205 122 739 Total Note 7 In￿8¢M￿l In¢omg Bank Inlgrgst Recèwl Totbl 776 776 Oth•r Incom• Toi•l 21 21 Pago 4 Not¢ 8 Anal￿15 of Expgnditure iknrnstslet•d Fund¥ Total FurKI$ Note 9 Exp•ndllur• on Ralslng Fund# Sales Goods Insurance Trusl Promots"on Tot•1 Nrte 10 Expgndllurfr on char￿10 Acllvhl•s Locomotiv& Rastorat￿)n Locomotive RepairlMainlenarKe Coach Restoraik)n Buildlng Maintenanc• Transportlcraneage Costs Magazine Publration Insurance 109 20 70 410 337 817 129 S.519 25,244 3.005 4.445 6.696 778 250 915 2,790 1,485 2.365 1,498 260 114 40 120 398 6.406 27,401 2,051 Mernbership Subscriptior Travelling Eypenses Pèrsonaj Saf•ty Equlkxnoni Workwear Printing, Stats'onery, Postag8 olc 08pr8clatK)n ot Fix¥d Ass¢ts Tot•1 Note 11 Gov•mane• c￿ta Indapandoni Examlnallon Pr1ntsng, Stab'ongry. Po$lag& 91¢ Total 232 6.5 46,$92 220 51 271 215 217 Nole 12 Expndltur• D•tthll* Insurance, arnoijntsng to £2,314 was puthAs8d1£2.77S In >)211 includ•s propety and putAic Ilability insuran¢0 lor ¢•rtw'n actfvitigs lincluding g8n8rationl und8rtaken by the Trusl, 11$ Tru$le¥$ and Mernber8. Tho work ol tho charity in restoring, maiAtalning •ThJ assisting in th• op8iation ol tis as$•ts 15, in the main, carried out by volunteer5 wlh tsnty spo¢ialss1 ath"wti•s contracled ￿t. No staff wore èmploygd In 8hh•r 2022 or 2021. No l•• lor th• Ind•p•ndènt Examinatlon ol the 2022 accounts has begn In¢kJded. Thtr ¢o$l 018xamining tha 2021 a¢¢ounts VAS £220 which is included in the 2022 axount8. N Hwitage Assets during Ihe last fve ypars. Pagg 6 Note 15 Stwk$ 2021 Stock Stock Charitable Activities- Books OpaniNJ Added in Period Expensed in Penod cloS￿ng Other Trading Activtbe¥ Opensn9 AdJ8d in Porfod Exp&n$ed in P&rfod Closing Total Closlng Sales Stock Th1• >••r Add Stocks of Slor•• Total Stocks Totsl Clo•lng Sto¢k Prnvlots• Y••r 1.839 89 218 1.710 2.030 191 1.839 1.719 9,612 11.331 1848 ￿03* Nrt¢ 16 An￿*11 ol Dobtty• 2021 Trad• D¢btorg Pr?paym•nts and A¢cru•d I￿ornI Other D•blors 18.480 2,196 1,774 17.524 1,492 2,538 Total Nirte 17 Credltorj and Accrual• Analysls ol Credtors Amounts FAlllng Oue Wlthln On• Y••r 2022 Amounts Falllng Ou• After Onè Yur 2022 2021 Trade Credltors Accruals & Oeferred Income Other Creditors 5283 595 6.765 12.643 3￿80 672 3,598 8,150 2.$69 2,610 Totsl 2,S69 Note 18 Doltrrrod Incom• Incorne vrds deterred in r*spw ol somo memb8rship subs¢rpiion$ *wg pld advance and al80 a vahido hire whkh covered finawal yèarn. M0￿mInt In D￿•vrnd Incorne AC￿U￿t IA•mbornhlp Subgerfptlon• Vghlc Hlr• Mernbership S¥b¥erlptlons Vèhlcl• Mlrn Balance at the Start ol the Re￿rti￿ PerkKI Amounts Added in Current Period Arnounts Released to Income from Pm Periods Balance at End of ReM>rting P•riod 3.282 £92 810 3,164 3.525 478 721 3,282 329 329 329 P8g& 7 Note 19 Charlty Funds Detalls of Mov•m•nt* Sn Fund¥ In 2022 Balanc• at 8alaneo at OIJJ12022 Ineom• EM￿ndItU￿ Transfers 31.12.2022 Purpo80 Rostrl¢t•tl Fund* Totsl R•strlcted Funds Unr&¥tri¢led Funds 1.413 Locomolfve rest(*alK FR25 irKomotNe r86tc¢alion Flum Lo¢omotNe roStu4ti0Th NLA Brak8 rostorthi Total OesKJnatod Funds Total Non Dosignal8(l Funds Total Unre8lrletsd Fund• 620 4,960 1.300 1.073 1.237 8,570 517,548 526,118 1.493 1.237 420 1.413 57.324 58.n7 2,503 44.489 46,992 504,713 514,3TJ Total All Fund• 514,3TJ 58.737 526,118 D•tsll• ot Ilov•m•nt$ In Fund* In 2021 Bal•ne• It 01.01.2021 Incty)i• Balanc• at Exp•ndllurn Tr•n#f•r• 31.12.2021 Purpo•• R•$trl¢i•d Fund• Total R•8tTl¢tgd Fund• Unr••trbet•d Furbd• Woorton Hell Lrt¢ffj0l￿ roslorthn itAn FR25 2.912 4,746 1.300 1,468 1.r37 11,663 488.875 500,538 1,802 S.S80 1,300 1.493 1,237 9.680 504,713 514,373 Lo¢¢m0￿¥# vostorath)n 125 100 NLR 8roka wn•o0 rostorab"L¥l Total Dgsionaled Funds Total Non Designated Funds Total Unr&*lrlctod Fund• 2,761 39.508 42,269 4,764 23,670 28.434 Tot&1 All Fund• 500 S38 42,269 614.373 Nott 20 Tr•n￿¢110n9 wlth Tru8t••s and R•lal•d Part None of the trustees have been paid any ￿m￿neral10n or r￿Ved any othor b•n•lits. No Trustees r8eoiv8d oxp8nsas in 2022. Two trust8os wwe paid a total L)1 £102 lor trav8104)8n808 in 2021. Page 8 Independent Examiner's Report to the Trustees of the Furness Railway Trust R8gl$tered Charlty No. 1163073 I r8port on the accounts ol the Ttusl for the 12 month$ 9nded 31st Decembar 2022, which are set out on pages I to 7. R•$pectlvo RÈspon*lbllltles of Tru•ts•$ and Examln•r Thtr ¢harity's trustees arè responsible lor thè preparat￿On ol the a￿oUnt$. The charitys trustees consl¢Jèr that an audlt Is not requlred lor this period undor 3e¢tion 144 01 th• CharEtles Act 2011 Iihe Charllles A¢tl and that an indep&ndgnl trxarnination is n06dsd. 1118 my responslblllty to.. examin• thè a¢¢ounts under sèetlon 145 01 the Charitl•s Aet. lo follow th8 procedures down in the G•n¥ral Dlrections glven by the Charlty Commisslon (under secliion 14515llbl ol the Charities Act., and . lo $late whether partl¢ular matters hav• come lo my aitenllon B••l• of Ind•pondont Examln•r'# Stst•m•nt My ox8rninaNlon was carrièd out in accordanee wfth G&neral Directions given by the Charity Commlsslon. An exambnatlon includ8s a r8vlew ol thg accounllng ro¢¢rds kept by tha charlly and a cornparlson ol the a¢counl8 present8d vmth those records. It also Includas eonsideratlon ol any unusual iitrms or dlsclosur96 in the accounts. and seeking èxplanations from the trustoos eon¢orning any such maiigr$. Th procedures undort8ken do not provida all the ?￿dence that would b& required in an audit, and cons9quently no oplnlon 1$ glven as to vthelher the accounts prgsant a Irue And lalr, vlew and Ihg rgport1$ Ilmllod to those mattgr$ $et out in tha slatarnanl betow. Indop•nd•nt Examlnor'• Stgtement In conn8ctlon with my exarnlnAfjon, no matter has come lo my Att¥nllon'. Which glves m& r8asonabJe cau80 to b811gvg ihai In, any materfal respect. thg requirernents.. to keep accountlng rKords In accordance wlth $8Ctlon 130 ot the Charit18s Act: and to prepare aecounts which accord ￿th the accounlSng ro¢tsrds and comply wllh tho ccounts'ng requlrem&nts of Iho Charities Act., have not been mel.. or 121 to which, In my opinlon, attènfjon Should be drayffl In order to enablo a woper understanding ol the accounts to be reached. Signed.. Name.. J. Prla$Uey ACMA. GGMA 24. Scarborough Road. St. Annes, Lytham St. Anno5. Lancashire FY8 SES li* Zo*) Dato: Pag& 9