NEW HORIZONS COVENTRY FINANCIAL STATEMENTS FOR 31 DECEPABER 2025 Company Number 10012348 Charfty Numb•r 1169264 FINAN URE uMrrED 2 Sheppard Street Brymbo. Mfvexham. LL11 SFF
NEW HORIZONS COVEKfRY FINANCIAL STATEMEpirs YEAR ENDED 31 DECEMBER 2025 CONTENTS PAGES Charity infwmation Trustees, annual repc*t 2to7 IndepeIent examinerfs report Statement of finala1 activitses Balan sheet 10 Notes to the financial statements 11to16
Pag• 1 NEW HORIZONS COVENTRY CHARITY INFORPAATION Th• board of trusto08 Mr C C Waddell Mr R Gaulton MrA J Coles Company •ocretary Ms A H Langlands R•gl•t•r•d offl 25 Ranulf Croft Coventry CV3 5FB Ind•p•nd•nt Examln•r Luke How80n MA4T Finansure Llmlted 2 Sheppard Street rymbo Wrexham LL115FF Banker• HSBC plc 55 Corporatlon Street Coventry CV11GX
Page 2 NEW HORIZONS COVENTRY TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEIABER 2025 The tru8tees have pleasure in wesenting their rewt and the financial Sts1)ents ofthe charity for the year ended 31 December 2025. The trustees have adopted tho provisions of the Statement of Recommended Pra(ce (SORP) 'Accounting and Reporting by ChaiitTr8S {effedTrve 1 January 2019}' (FRS 102) in prepariry the annual report and financial statements of charity. GENERAL INFORPAATION The charity is a company limited by guarante8, incorporated on 18 February 2016, govemed by rts Memorandum and Artides of A880¢iation. Itwas registered as a Chanty on 19 September 2016. The ¢harttable company. Plorizons Coventry. took over the operations of the existing charitable tru8t. Horizons, on 141 jUary 2017 and the charitable trust has now been di8s01ved. Tru•t• Th8 tru8teas (who are aJ80 thè dir•ctor8) duriNJ tho yoar wer• Chri8 Wa¢Jell, Robin Gault<)n and Adrian Coth. tru8tees are appointed by the board of tfU8tee8 in accordance Imth the Artide8 of A880ciation. OBJECTIVES, ORGANISATION AND ACTivrriES The purp08e8 of the charity, as stated In ils ticleS of A88ociation, 1. To proclalm and further ts go8poI of God conceming hi8 Son, Je8U8 Christ, and to preach and teach the Christian faith in such parts of the UK orthe world as the directors may from time to time think fft. 2. The relief of persons who are in condition of need or hardship or are aged or sick and to relieve the distress caused in Such parts of the UK or the world as the directors may from time to time think fiL 3. Any otrr charitabfe purposes according io the IM of England and Wak88 88 the directors may from time to time think fft. The actlvities adopted to lurth•r the purp08es of the charity are: Conducting meetings Organising a(iv[l5 arKI groups Working closely with (ther Christian organisatlons.
Pag0 3 NEW HORIZONS COVENTRY TRUSTEES, ANNUAL REPORT (c¢)M7 YEAR ENDED 31 DECEMBER 2025 FINANCIAL REVIEW The statement of financial adivitw 18 set out on page 8 of the financial statements. Asummary of the financial r8sults18 set out be." Flnancl•l r•vl Total income for the year was £346,377 {2024 - £352,385). The main Sources of ongoing income are donations reiVed £276,369 (2024- £280,99)) along with income tax recoverab £56.194 (2024- £56.089). Totsl expendlture for the year Twas £347,244 (2024 - £353,601). leaving a deficit of £887 (2024 - defi¢ft of £1,216) for tt year. More detsils can be seen in the ActivitTre8 section below. The tru8tees asses8 that reserves are at a satlsfaLory level. At 31 December 2025 the charlty held unrestricted re8er4es totalling £517.855 (2024 - £513,444}. REVIEW OF ACTMTIES AND ACHIEVEIAENTS Hlghllghts of actlvltl•• In 2025 In 2025, New H¢yizon8 ha8 continued lo Invest the time of ow dedicated volunteer8, our Small number of part-time Staff arKI our financial resources to Continue to wodaim the gospel of Jesus Christ and 10 8ee people develop and gr in their faith a8 a re8uIt of attending our nieetings. New Horlzons has a recognised role In supporting Congress WBN, a global faith-based ¢Jrganizatlon to which we are affiliated. AS a resuft of this role, New Horizons has had the opportunity to be engaged in wider activrbes rdated to prodaiming and fiirthering the g08pel of Jesus Christ, teaching the Christian faith and offering inwrt and support to other churches and faith-based Chaiities in the UK and Europe. In 2025, we were able to offer input and 8UPPOrt to churches in Europe. in partiajlar churches in Gemiany, Sweden, Switzerfand and Ukraine. The main actNrties of New Hiyizons in 2025 have induded: Conducting meetrngs. whith are ac(tssible to the g8rwal wblic. with the alm of teaching the Chrith'an faith: Developing th8 church members in their Christsan faith. with speafic and tarfvd Input into the men, women, young people and children.. Receiving strategic input to the churth and develowientforthe church leadership from leaders wthin Congress VJBN: Providing support arKI advice lo a nwnber of similar faith dlarthes and churthes,. and Providing leadership inpul to ¢hwth o)mmunities in order to SUPpt the development of Ch$ across the UK and Europe.
Page 4 NEW HORIZONS COVENTRY TRUSTEES, ANNUAL REPORT ICONnNUEDJ YEAR ENDED 31 DECEMBER 2025 Our Income is largely ba8ed around donations, thIch have been at a consistent level over the last 6 years. There has b8en a slight decrease in donations this year as a resuli of some church members leaving the church, but the full impact of this will mainly be seen in the 2026 re8uIts. Our key expenditure compr18es'. donations to other Christian organi8ation8 and leaders in Ilna with our charitable purp08e8,' payment of 5 part-time members of staff {2024'. 8), including a company se¢xetary vtho 18 a quallfied accountant, and payment of the Senior Elder of the church provid•8 ministry seivi¢e8; and covering 888entlal expense8 including UK and overnea8 travel and the c08t of hiring venue8 and running ovents and conference8. We also Invest in the tralning and development of18aders and volunteers of New Horizon8, who play a vital part in our ablllty to lulfil our charitable purposes, and we procure consU0n¢Y 8ervic88 where It is considered appropriate to pay for seNi¢es rather than solely rely on the good4vill of our volunteers. We own no property,. we continue to rent the Coventry Boys and Gir18 Club for Sunday meetlng8 and other venue8 are 88 required. Church running costs for 2025 were £189,825, £35k lower than the 2024 costs of £204,771. The lower costs are mainly due to employee costs decreasing from £81 k to £51 k, due to thé Hoad of GCT loaving In November 2024 and not belng replaced. We make regular financial donation8 to 8UPPOrt the work of Congre88 WBN and the mini8try organisations of four Chri8tlan leaders who have a yrfdw1de role Sn furthering the Christian faith. Their work and values are fully aligned with th08e of New Horizons and our donation8 enable us to further our objects by facilitsting the work of thos8 who have a reach beyond our own. Donations were a180 made to 8UPPOrt global initt8tlve8 to help relieve hardship for people in the UK, Europe and overseas. This included £7,710 (2024: £3,169) to support people working In Ukraine to proclaim the gospel of Christ in the midst of the ongoing war with Russia. Mission support glfts of £2,850 {2024.' £1,443) were made to individuals in the UK who required financial support. All donation8 made by the Charity are subject to a risk as8e8sment to ensure that charity funds are being spent in accordanc8 With our charitable purposes and In line with money laundering regulations. A net d8fidt of £887 was made In the year, compared to a net deficit of £1,216 in 2024. The use of chanty funds received in the year and existing reserves is a strategic dectsion by th8 trustees to invest in the infrastructure and wnning of New Horizon8, reducing the burden on volunteers, and to make donations to support the work of charity and indNiduals who have similar purposes as New Horizons, but with a drfferent or wider readi.
Pago 6 NEW HORIZONS COVENTRY TRUSTEES, ANNUAL REPORT (C¢%n#uED) YEAR ENDED 31 DECEMBER 2026 Highlights of a¢hl•v•monts In 2025 We continue to See improvement in the understanding, grasp and application of the Christian farth of those who access our meetings. Development and 8treruthenlng of leaders and the organi8ational 8tructur88 of the Church. Ongoing interaction8 and nelworking with churches and Chrlstlan leadership in the UK, Gemiany, Switzedand, Swed8n and Ukraine. This has resulted in the strengthening of churches and their leadership as they proclaim and further the Christian faith. Involvement in a meeting of Congress WBN church88 across Europe, hosted in Franklurt, Gemiany in May 2025. Church members attended the gathering eher In person or onlin8, and a number of church members 8UPPOrt8d the running of the event. H08ting a 8emlnar in Coventry in DKember 2025 for Congres8 WBN Church leader8 from acr088 Europe. Sending a church member who Serves on the global leadership team of Congre88 Music Factory, involved In the creation and production of worship music acro88 tho world wlthin Congress ItyBN, to attend a team m8ets.ng In the USA. Plan• for futur• porlod• The Trustee8 consider that the aims and objectives of New Horizons and the activrtles undertaken to achieve them will remain unchanged in future periods. There has bean reduction in the number of church members over the pa8t year, whlch means that the income from donations in 2026 18 expected to be les8 than in previous year8. In 2026, there is expected to be an inv88tment of finances in leadership d8velopment and the govemance of the charity, but the Tru8tee8 are 8atisfied that there 8re sufficient resep4es to cover the expected net deficit in 2026. They are closely monitoring incom8 and exp8nditure and will ensure that expenditure is adjusted to match the16vels of income received going forwards. The ¢harity'8 re88rve8 policy is to hold financial resee8 to cover approximately 81x months. unrestricted expenditure. The Trustees are satisf1 that this policy will provide New Horizons with Slrfficnt financial resilien¢e to withstand future unexpected disasters by u8ing existing reserves together with having the flexibilty to adjust expenditure to match the levels of income received. New Horizons will continue to look for strategic opportunitie8 to make donations and investments that deliver the objects of the charity.
Page 6 NEW HORIZONS COVENTRY TRUSTEES, ANNUAL REPORT (CONnNUED) YEAR ENDED 31 DECEMBER 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Trustees are selected by the existirKJ trustees who also take into account the views of church members as to each person's trustworthiness. The Trustees have also established an Audlt arKd Risk Committee, comprising two Trustees nominated by the Board, in order to focus on risk management within the Charty. The delegated authority of committee and requiremerrts to report back to the full Board is set out in Temis of Reference approved by the Board of Trustees. Rl$k aswdsmont The trustees have considered the key operational, financial, and strategic risks that have a bearing on the charity through the mechanism of a Risk Register. Suitable management infomiation is available to the Audit and Risk Committe8 on a regular basis to monitor these risks, and allow any mitigating action to be taken to address them. Intemal audits are planned by the Audit and Risk Committee to strategically address the areas of greatest risk within the Charity. They are carri8d out by suitable personnel who report back to the Audtt and Risk Committ88 on key findings and *ions to be taken to further mitigate against identified risks. Invoslment policy The charity has adopted a policy of investing funds not immediately needed in saving accounts with various banks up to the £120,000 FSCS guaranteed limit (£85,000 prior to 1 December 2025). Reserves pollcy It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months. unrestricted expendriure. This provides sufficient funds to cover management, administration and support costs. Unrestricted funds were maintained above this bvel throughout the year. Fund ralslng The charity r81ie8 on voluntary donations from its members for its income. The tharity do8S not employ professional fundraising bodies. The charity does not receNe any grants or any other payment for our services. Voluntsor• The charity Is grateful for the commitment of ts volunteers who are involved in all aspects of the charity's operations. PUBLIC BENEFIT The charity twstees have complied with their duty to have due regard to the guidan on public benefit, and the supplementary guidance on the advancement of religion for the public benefft, published by the Charity Commisslon in exercising their powers and duties.
Pago 7 NEW HORIZONS COVEKfRY TRUSTEES. ANNUAL REPORT (coHThw) YEAR ENDED 31 DECEIABER 2025 STATEMENT OF TRUSTEES. RESPONSIBILMES Charity law requires the trustees to wepare finan(aal ststements for eath financtal year, which give a true and fair view of the state of affair5 of the charty and of its financial activities for that year. In rry)aring those finaTh>al statements the trustees are required to: select suitalAe a(wuntirvJ policies arKI apply them consisterrtly. make 1Mertt$ and estimates that are rea)nable and prudent,. state whether the policies adopted are in aCdance with the Statement of RecommerKled Practice, "Accounting and ReportFng by Charitie$ (effective 1* January 2019). and Imlh applKxble accounting standards, su4.ect to any material departures disdosed and explained in ts financial statements. prepare the financial sLqtements on th8 going Concem basis unless rt is inappropriate to aswme the thwity will continue operating. b) d) The trustees are respcThible for keepiNJ prwr accounting records lch disdose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that ts finanoal statements COmY with the Companies Act 20c. They are also responsibb for safeguarding the assets of the charity and hen for tala'ng reasonable steps for the prevention and detection of fraud or other irregularities. This report was apwoved by the truslees on ... on their behalf by.. .. arKI 18 signed Mr R Gaulton
Page 8 NEW HORIZONS COVENTRY REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS We report on the financial stat8ment8 for th• year ended 31 * December 2025 8et out on pages 9t016. Ra8pectlve rnspon8lbllltles of trusto0 and examiner The charity's trustees are responsible for the preparation of the a(unts. The charity's trustees consider that an audit 18 not required for this year under section 144 of the Charitie8 Act 2011 (the Charities Act) or under Part 16 of the Companie8 Act 2006 {the Companies Act) and that an independent examination is needed. It is my responsibility to.. examlne the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Direction8 given by the Charity Commission under section 145(5)(b) of the Chariiie8 Act, and to State whether partlcular matters have come to my attention. 8al• of Ind•pond•nt arnIn•$ 9tatam•nl My examlnation was carried out in accordance with general Directions given by the Charity Cornmission. An examination includes a review of the accounting record8 kept by the charity and a comparf8on of the account8 we8enled with those records. It also includes consideration of any unusual Items or di8cIo8ures in the accounts, and 888king explanations from the trustee8 conceming any Such matters. The procedur88 undertaken do not provide all tho evidence that would be requlred in an audit, and consequently no opinion is given as to whether Ihe accounts we8ent a Irue and falv vlew and the report 18 Ilmited to those matters Set out in the 8tatement below. Ind•p•ndent examlnerf8 8tat•m•nt In cOnneon with my examination, I have rea80nablo Gau8e to believa that- (1) In all material re8PeCt8 the requirements: to keep accountlng record8 in accordance wtth 80Ction 388 of the Companle8 Act; to prepare accounts in accordance with the accounting requirements of 8ectlon 396 of the Companie8 Act and with the methods and principles of the SORP., have Ixen met; and (2) there are no material matter8 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Luke Howson T Flnansure Llmlt8d. 2 Sheppard Street, Brymbo, INr8xham, LL115FF Date: . 22nd July 2026
Pago 9 NEW HORIZONS COVENTRY STATEPAENT OF FINANCIAL ACTMTIES (INCLUDING INCOME AND EXPENDITURE AccouKr> YEAR ENDED 31 DECEMBER 2025 Unrestrthj Restrthd Totals Totals Funds Funds 202S 2024 INCOME FRO Donations 1fttments Other inn 325.528 13.075 739 7.037 332.563 337.079 13J)75 14,197 739 1,109 TOTAL INCOI•NG RESOURC&8 7.037 346,377 352,385 RESOURCES EXPENDED Charitabl8 actr¥ibe• 334,V29 12.315 347344 353,801 TOTAL RESOURCE3 EXPENDE> 334,V29 12,315 347344 353,601 NEf INCOME I (EXPENDITURE FOR THE YEAR 4.411 (5.2781 (1,216> Tranfjfws betwe8n fund8 Not mov•rnnt In furK18 4,411 (5,2781 (1,2161 513,444 5.278 611722 $19.938 517,855 517155 518,722 The charity ha8 no recognised gains or losses other than the re8uft8 for the year a8 88t out All of Ihe acivilies of the ¢arity are dassed as continuing.
Pay 10 NEW HORIZONS COVETr¥fRY BALANCE SHEET 31 DECEMBER 2025 2025 2024 FIXED ASSETS Tangible assets 10 11J55 23.174 CURREpif ASSETS Debtors Cash at Iwik aThJ in harKI 11 26212 486812 26.541 474,010 s124 5(M),551 CREDrroRS: A)Unts f11j due within ono year 12 16.1241 <5,0031 CURRENT LIABILrnE8 NET AsseTS 517155 518,722 FUNDS Unrestrpd funds 13 S1755 513.444 5.278 TOTAL FUNDS 517.855 518.722 (the Act) rnlating to the autht olthe Sxthe Ye ty ofsed11 4T1. that mr w membè have reqwted wt amjit Wr to 476 ofthe AL#. These financial statewnts*we woved ty the Irustees on ............ ............................. and are Si3ned on their behalf by: Mr R Gaulton The not08 on pag•s 11 to 16 form wt of thos• financl•l statomo
Pay 11 NEW HORIZONS COVENTRY NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES Ba81B of prep•rntlon The finawal ststements have been prepared under the historical cost convention. and in ac¢rdance wrth the Statement of Recommended Practi¢e (SORP), 'Accounting and Reporting by Charities (effective 1 January 20191. {FRS 1021, the Charrties Ac( the Companies Act and appluble accounting standards. Under Financial Reporting Standard 102 (FRS 1021, the ¢harity is exempt from ts requirement to wepare a cash flow statement on the grounds of its stze. Th? charity is a company limited by guarantee, whth was incorporated on 18 February 2016. The members of the company are the trustees named on page 1. In the event of the charity being wound up. the liabillty in respect of the guarantee 1$ limtted to £10 per member of the ¢harity. Fund accounllng Unrestricted funds are general funds whl¢h are available for use at the discretion of the trustees in furtherance of the general obie¢bves of tho charity and whth have not been deslgnated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictsons Imposed ty donors or which have been raised by the charity for particular purposes. The cost of raising and minIsteng such fvnds are ¢harged against the specific fvnd. Investsnent In0) and 9ains are al[ted to the approprie fund. Ineomlng re•our¢ All incoming resour¢¢$ are included in the Statanent of finawal adwities when the ¢harfty is legally entitkd to the income and the amount can be quantified with reasonable accuracy. No arTh)unts a induded in the financial statements for services donated by volunteers. Al expenditure is accounted for on an accruals basis and has been classifi8d under he•Jings that aggregate all costs rfrted to the category. Costs ofgenerating fvnds are those incurred in seeking voluntary contributions and do not Indude the costs of disseFninatsng informknn in SUPF¢rt of the charitable activities. Tanglble flx•d assots and deprnclatlon Tan9ible fixed assets are stated at c#)st less depre¢trOn. Assets are capitali8ed vrtwe they can be used for more than one year and cost over £11)0. Deprecialion is ¢aIlated to V4Tite off the cost of fixed a$sets ¢)ver their exk*Cted u8eful INe$, and is provided on th8 following bases.. F&F l EquIpnt 25% stratght line
Pay 12 NEW HORIZONS COVEKfRY NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 DECEMBER 2026 DONATIONS 2024 Donation8 - Unrestricted 9,332 7.037 269,550 11,440 Gmt Aid re(x)¥erable 06.194 56,089 337,079 INCOME FROM INVESTMENTS 2025 2024 Int•rost recéived 13,076 14,197 COSTS OF ACTivmES IN FURThERANCE OF THE CHARrrYs OBJECTS Grant furKlir¥J of ENpby8 Tol•l 2025 Total 2024 (rK*e n (mta 81 Churth runni Leadershl costs MissvJns arKI 652( 53.431 19 TOTAL 31
Pw13 NEW HORIZONS COVEPMIY NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 DECEMBER 2025 COSTS OF ACTivmES UNDERTAKEN DIRECTLY 2024 Sunday NKrfnings 36 36.031 11878 30,418 16.742 7.072 P•* grouF6 Safeguardw 170 NH Eldership 83M76 1A18 Conferencts & events.. 11,284 3.673 XM)JM 185,948 ANALYSIS OF GRAKf FUNDING OF ACTivmE8 2026 2024 Grants to other ch8rltss (UK) Congress W8N 10,8IJO 10.580 Klngdom 1rnpa Ilndone8ia) Scott Webster Mlnistries {USA} Steve Schultz Minlstries (USA) Church of God's Ghjy (Ukraine) 4240 10,232 10232 7.710 5,250 10,367 10.369 3,169 Grants to indfvKluals (UIQ Regular ministy g MissK)n support grfts 9,240 1,443 Grants to individuals {wthJwwJe) Ministy gifts (Egypt) Mlnlsty gTIts (Trinktsl) 1.033 4662 53.431
Pago 14 NEW HORIZONS COVENTRY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 ANALYSIS OF SUPPORT COSTS 2025 2024 Depred8tk)n 14342 11,605 321 1,883 2,201 1,076 17.291 10.831 385 1,623 2.204 1.075 Flnan¢e costs Insurance Independent OXWbwnef8 fee 31,227 33,409 EMPLOYEE COSTS 2028 2024 Gross wages Emrloyels NIC ErnOYer wnslon oJntrfbutton8 Penth admlnl8trthn charg68 41113 85,314 &916 15,121 288 60,717 80,723 Thoaverage numtwofernOY0eS (all pgrt4mèl durlng thoyearwas flve12024-$ix>. All employ were anplOY In •Smlnl8trth8 ro. No amtheo rec4iv•J employee bgnefits of more than £80,0. TRANSACTIONS TRUSTEES One trusteo, Mr C VVaJd811, wa8 engaged wi remunerated mlnlsty durlng tr• year and weived £80,979 (2024 . £79,117) In rnspect of minlsty fees, in accordarKe with the Artths OfASswat. No other trte8 rKeivod remuneration. No ir•Sdental exFen88$ were KKurred by trusteos n carrymw out the trustee dljties (2024- Nil). Expenses Irrred ty truste8s for seNix prov•Jed to the ¢hanty wi the year, eitsr by reNYl)urnem8nt ofthe trustso or by paymentto a thlrd paty. lots1 £7.356 {2024- £6,474). The tolal donations made to the tharity by trustees thOut Condittons during the year was £19,540 {2024- £18,976).
Pag¢ 1S NEW HORIZONS COVEPMIY NOTES TO THE FINANCIAL STATEIAENTS YEAR ENDED 31 DECEMBER 2025 10. FIXED ASSErs Ftxtuw & Equiprnnl Total At 1 January 2025 Addibons DisFosals At 31 D•comb•r 2025 133.425 2.523 7.543 140,988 2.523 O•pr•¢laUon Al 1 January 2025 Charge for year Dlsposals At 31 D•e•rn 2025 110.538 14.284 7.258 78 117.794 14.342 N•t book valu• At 31 D•e•mb•r 2028 11 At 31 December 2024 22,889 285 23,174 11. DEBTORS 2025 2024 10.414 13.895 2.232 13A76 28212 26,$41 11 CREDrroRS DUE wrrHIN ONE YEAR 2024 als 20 1476 2,214 124 5,CN)3
Pag• 16 NOTES TO THE FINANCIAL STATEMEpirs YEAR ENDED 31 DECEIABER 2026 13. STATEMENf OF FUNDS At31 2025 513 444 339 340 EarrnarI g¢ts Events & Scmiab Totsl Strthd fvrKIs 5,278 (9.940) 2.375 Total fvnd• 518.722 346Jn P47244) 517,8SS The general reserve representsthe free funds ofthe chity whth we not designated for particul purpose5. Events & xKrdls represents IonE ttrwards ¢x>sts of events and xrial meeting$ duri the year. 1& FUNDS RECEIVED AS AGEMT lotalling £1,36312024 . £1,720). Alter tr$)n fees dwJucW. Ihe was passed on to the (a church Ukraine} durirKJ the year. inoxfft, e>¥nO armj assets We rKrt wKJutsJ in these axw)ts * per the SORP {FRS102} sec1p 19.