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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 1171738

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PICTURING HEALTH

Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

PICTURING HEALTH

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Balance Sheet 10
Notes to the Financial Statements 11 to 14
Detailed Statement of Financial Activities 15

PICTURING HEALTH

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims Our core objectives are

A . Making films in the four focus areas, training health workers, disseminating research, empowering patients and informing communities.

Picturing Health was set up to use film and art to improve public health. We make films to disseminate research and turn evidence into practice, working in partnership with leading medical and research institutions including the World Health Organisation, the Medical Research Council and the London School of Hygiene and Tropical Medicine. We make films to train health workers. We make films to inform patients and to promote discussion in communities. Films cover topics from HIV and emergency paediatric medicine to diabetes, dementia and mental health. We have worked mostly in Africa, but also have projects in Asia, Latin America and the UK.

The core film work of the charity continued through 2020 despite the COVID-19 pandemic. In 2020 our specific objective was to strengthen the organisation particularly by focusing on evaluation of the effectiveness of films, the capacity building of our film makers overseas and well as clinicians, and on core support, the website, financial management, distribution of films and improved financing of core costs.

All our films are available at www.picturinghealth.org.

Public benefit

All our films made are available to all for the advancement of health and for saving lives, particularly in countries where health care may be limited. Part of the reason for setting up as a charity was to improve distribution of the films that we make. Through 2020 we continued to improve our distribution through our website. We built links to local TV networks in several African countries, an area which we will look to expand. We carried out distribution drives for our films through Facebook and other social media networks and we worked on expanding and improving our YouTube channel.

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PICTURING HEALTH

for the Year Ended 31 December 2020

REPORT OF THE TRUSTEES

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In 2020 the COVID-19 pandemic posed a huge challenge as well as potential opportunity for the work of Picturing Health. It forced us to change our priorities with regard to film making as we responded to a new set of needs created by the pandemic, whilst trying to also maintain current projects. We were able to expand our film making and other activities, despite the extraordinary circumstances, thanks in large part to our previous policy of training and working with local film makers in Africa. In monetary terms our turnover almost doubled. Our film output increased more than this as we also benefited from generous donations of time from collaborators. This is set to continue through 2021, when our turnover is expected to double again from the 2020 level despite considerable fundraising challenges.

Film Projects:

The charity makes films in four main categories: to train health workers, to disseminate evidence-based research, to inform patients and to promote debate and discussion in communities. We completed 3 major film projects this year and started several others.

The Memory Café project began in 2019 when we carried out filming for a series of films to train volunteers at Memory Cafes, providing services for people living with dementia in the UK. The project is funded by Devon County Council through the Devon Memory Café Consortium. The films include more than two hours of dementia awareness training tailored towards memory cafes. Other films will look at different aspects of running memory cafes which were planned this year and will be completed in 2021 and further developed for an online training platform for Memory Café staff and volunteers.

Public Health messaging for COVID 19 . We developed animations for COVID messaging, benefiting from a donation of time by Bright Carbon animations. We developed messaging around COVID prevention and shielding the elderly and susceptible populations. We also had help from Translators without Borders to turn the animations into 20 languages. These were widely distributed, not only on social media but also terrestrial channels. In Malawi they were used repeatedly over several months by the two main television Networks (public and private) with estimated audience reach of 6 million viewers on each network. They were used on Tibetan exile TV in India and in clinics in the highlands of Papua New Guinea.

COVID on the Breadline . At the start of the pandemic we also made a half hour film with UNICEF and University of Johannesburg, aimed at informing the policy debate about the public health response to COVID-19. We did a targeted distribution of the film through social media and direct contacts to ministries of health in Africa. The film focused on the potential collateral damage of the pandemic response to other health services and explored alternative local control measures for COVID-19 in countries without the infrastructure and support mechanisms to sustain effective lockdowns.

Malaria films . In partnership with researchers from Imperial College and Kemri Wellcome Trust in Kenya we provided a series of short films for an online training platform to improve diagnosis of paediatric malaria.

ETAT films. In partnership with Royal College of Paediatrics and Child Health, we provided a series of short films for an online training platform for ETAT (Emergency Triage, Assessment and Treatment) training, for paediatric emergency teams. Where implemented ETAT has been shown to cut mortality of acutely sick children by as much as 50%. We also planned further filming for the same series in Sierra Leone where the Royal Society for Psychiatry and Child Health have ongoing projects.

Odyssey Trial (PENTA 20) . We made a short film about preliminary results of a major clinical trial called Odyssey, which has shown that the drug dolutegravir is safe and effective in children. This is a major development in improving HIV treatment for children. It means taking one small pill, instead of many large pills a day. The trial was carried out mostly in Africa, but also in the UK. It involved unprecedented collaboration between researchers, health teams, the pharmaceutical industry and generic companies as well as regulators like the World Health Organisation and the Food and Drugs Administration. We will be doing more work in 2021 when full results of the trial are expected to be published.

Blood Transfusion training films . We were able to carry out filming for a series of training films in partnership with the Blood Transfusion Service of Malawi. These still need to be edited and expanded for wider use in Africa. These are due for completion in 2021.

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PICTURING HEALTH

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

NEST 360. We started a major project to make more than 40 short training films on how to use essential equipment for keeping babies breathing in Africa. This includes Continuous Passage Airway Therapy, oxygen concentrators, pulse oximeters, suction pumps, flow splitters, radiant warmers and phototherapy devices. The films will constitute a complete online training course as well as provide material for use by trainers during physical training sessions. The films are due be completed in 2021.

CurArte

We continued to support a long-term initiative in the mental health unit of the Hospital San Rafael, Santa Tecla, El Salvador by CurArte. Due to the pandemic the mental health unit was closed and the hospital was converted into a front line COVID response unit. However some of the activities organized by CurArte were able to move online. The project also produced videos for supporting teens threatened by sexual abuse during the lockdowns and for Tai Chi and other activities.

Capacity building

Picturing Health has done a great deal of training over the last five years - with on-the-job mentoring for local film makers in Africa. This has continued despite the COVID pandemic. Ernest Mbanga, a film-maker in Malawi and Jeff Muwonge in Uganda both worked on filming projects. James Chanika, in Uganda also organized filming for COVID films.

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PICTURING HEALTH

REPORT OF THE TRUSTEES for the Year Ended 31 December 2020

ACHIEVEMENT AND PERFORMANCE Fundraising activities Funding and expenditure of Picturing Health

Picturing Health does not have any full-time staff, rented office space or other overheads. Rather we put together teams to make films on a project by project basis. We do this to maintain high value for money, allowing us to carry out complex filming projects on very small budgets. The charity's size should not be judged on its budget or staff numbers, but on its ability to produce high quality films - and on this we have a strong production rate.

Where possible the charity will contract people in the country or region where filming takes place so as to avoid expensive travel, also offering mentoring and on-the-job support for local film makers. In most cases contractors have charged below commercial rates, offering their expertise at a cheaper rate for charity work or on a voluntary basis. This includes work for building the website and for disseminating and publicising films and other activities.

Administration of the charity has been done on a pro-bono basis. The CEO is paid only for film making work that he carries out, not for activities of administering the charity, including accounts, reports and other work. The charity also has no physical offices or other infrastructure, so as to keep overheads to a minimum. The person directing CurArte in El Salvador, and giving many of the art sessions, also works on a pro-bono full-time basis, only being paid for commissioned artwork related to film projects.

The charity does raise money from the public, but so far the amount raised has been very small, through donations on the website. We do not use a professional fund-raiser, nor does the charity operate with a commercial participator. The charity gets the majority of its income through carrying out contracted work (usually making films) for partners who are implementing health or research projects on the ground. Often we are able to make budgets stretch. So if commissioned to make a film about a clinical trial, we will work with the partner to also produce and disseminate training films around the same topic. Picturing Health had neither contracts nor grant funding in 2020 from central government or local authorities. The charity did receive income from outside of the UK. A number of the partners we work with (and have worked with in the past) are not based in the UK. In 2020 we received £8,200 from NEST 360 which is run by Rice University in the United States. We also received £8,660 from PENTA (Paediatric European Network for the Treatment of Aids) for the production of a short film about Odyssey.

In 2020 Picturing Health registered with the UK government's Gift Aid Scheme and will receive income through this in 2021.

Through the year we have worked to improve our website, which is central for distribution of films, build partnerships to allow better evaluation of films within health programs, look for funding opportunities and build capacity both in terms of running the charity and film making. We expect that these building blocks will bear fruit in terms of expanding our activities in 2021.

Countries where Picturing Health operates

In most of the places we make films, we are not operating on a permanent basis. We therefore do not have a legal presence, permanent representative or offices. In 2020 we worked in Malawi, Uganda, Zimbabwe, Kenya, South Africa, India, El Salvador and the UK. Spending was entirely related to film production, which was coordinated from the UK. Money was transferred through the banking system. Receipts were collected for expenditure and accounting done on a project by project basis to fit with-in the budgets agreed with partners. In all current projects, expenditure has been kept within allocated budgets

FINANCIAL REVIEW

Financial position

The accounts show activities for the year. Total income for Picturing Health was £51,742. Total expenditure on film making activities was £40,441. The surplus was then added to the funds carried forward from 2019 to give a balance at the year-end of £14,112 of which £6,403 was restricted and £7,709 was unrestricted.

Projected activities for next year.

Projected turnover from commissioned work in 2021 is expected to increase from 2020 to around £100,000 with the increase primarily from increased value of contracts.

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PICTURING HEALTH

for the Year Ended 31 December 2020

REPORT OF THE TRUSTEES

FINANCIAL REVIEW

Reserves policy

As the Charity is small we do not have a complex reserves policy. A decision has been taken by trustees to always keep a year of core overhead costs in reserve and then work on a project by project basis, trying where-ever possible to balance budgets within projects. Our overheads in 2020 were £1,447.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, Charitable Incorporated Organisation - Foundation constitution registered on 22nd February 2017.

Management

Trustees continued to meet on a quarterly basis. A risk register was set up to identify potential risks allowing trustees to assess these. This identified the possibility of accidents involving contractors working with Picturing Health as one of the highest risks along with potential failure to meet the deadlines of filming contracts due to insufficient film making capacity or lack of funds.

These are being addressed by ensuring that contractors have their own insurance to cover them and by building a working capital fund. The charity does not have any trading subsidiaries. None of the trustees received remuneration or benefits other than expenses incurred. During the period covered, one Trustee, Mary Garvey resigned. This was because it was agreed she could give a greater contribution as project manager and helping with governance and management of the charity, work for which she would be paid. The charity has no employees, but instead works contractually. The charity had no UK volunteers, although a number of UK based contractors gave time at reduced rates for charity work.

The strengthening of management and administration was identified as a key area to improve in 2020. In January 2020 trustees worked out a budget for the year based on projected income, and an action plan of activities to be completed to strengthen core activities. Progress was reported to trustees at quarterly meetings.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1171738

Principal address

Flat 3 Springfield Jubilee Road Totnes Devon TQ9 5BW

Trustees

Hon Prof E M Molyneux Prof A L Kinmonth Prof Sir I Weller Ms M Garvey (resigned 20.1.20) Mrs A E South Prof P Mugyenyi

Independent Examiner

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

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PICTURING HEALTH

for the Year Ended 31 December 2020

REPORT OF THE TRUSTEES

Approved by order of the board of trustees on 5 July 2021 and signed on its behalf by:

Hon Prof E M Molyneux - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PICTURING HEALTH

Independent examiner's report to the trustees of Picturing Health

I report to the charity trustees on my examination of the accounts of Picturing Health (the Trust) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

12 October 2021

Page 7

PICTURING HEALTH

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Core Costs
5,760
-
Penta Project
-
7,800
Thanzi
-
-
WHO Street vendor babies
-
-
TRACT trial
-
-
Kangaroo care
-
334
AALPHI project
-
-
RAMPART trial
-
2,700
Memory Cafe
-
6,353
COVID
-
3,799
Blood transfusions
-
14,850
NEST
-
8,215
Odyssey
-
1,931
Total
5,760
45,982
EXPENDITURE ON
Charitable activities
Core Costs
1,446
-
Penta Project
-
7,800
CurArte in El Salvador
-
-
Thanzi
-
-
WHO Street vendor babies
-
-
TRACT trial
-
-
Kangaroo care
-
-
AALPHI project
-
-
RAMPART trial
-
2,449
Memory Cafe
-
6,353
Project funding
-
-
COVID
-
6,481
Blood transfusions
-
7,727
NEST
-
4,768
SHINE
-
1,223
Odyssey
-
1,956
Other
1
237
Total
1,447
38,994
NET INCOME/(EXPENDITURE)
4,313
6,988
Transfers between funds
6
1,572
(1,572)
Net movement in funds
5,885
5,416
2020
Total
funds
£
5,760
7,800
-
-
-
334
-
2,700
6,353
3,799
14,850
8,215
1,931
51,742
1,446
7,800
-
-
-
-
-
-
2,449
6,353
-
6,481
7,727
4,768
1,223
1,956
238
40,441
11,301
-
11,301
2019
Total
funds
£
1,036
-
3,138
3,264
7,832
-
2,700
-
6,475
-
-
-
-
24,445
3,195
-
8,501
4,446
5,842
2,949
(68)
2,700
251
6,475
2,540
-
-
-
-
-
321
37,152
(12,707)
-
(12,707)

The notes form part of these financial statements

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PICTURING HEALTH

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020

Unrestricted
Restricted
fund
funds
Notes
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
1,824
987
TOTAL FUNDS CARRIED FORWARD
7,709
6,403
2020
Total
funds
£
2,811
14,112
2019
Total
funds
£
15,518
2,811

The notes form part of these financial statements

Page 9

PICTURING HEALTH

BALANCE SHEET

31 December 2020

Unrestricted
Restricted
fund
funds
Notes
£
£
CURRENT ASSETS
Debtors
3
4,769
-
Cash at bank
2,940
10,570
7,709
10,570
CREDITORS
Amounts falling due within one year
4
-
(4,167)
NET CURRENT ASSETS
7,709
6,403
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,709
6,403
NET ASSETS/(LIABILITIES)
7,709
6,403
FUNDS
6
Unrestricted funds
Restricted funds
TOTAL FUNDS
2020
Total
funds
£
4,769
13,510
18,279
(4,167)
14,112
14,112
14,112
7,709
6,403
14,112
2019
Total
funds
£
14,275
4,424
18,699
(15,888)
2,811
2,811
2,811
1,824
987
2,811

The financial statements were approved by the Board of Trustees and authorised for issue on 5 July 2021 and were signed on its behalf by:

Hon Prof E M Molyneux - Trustee

The notes form part of these financial statements

Page 10

PICTURING HEALTH

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
2020
2019
Other debtors
2020
2019
Other debtors
2020
2019
£ £
PENTA 0 7,800
Memory cafe 0 6,475
Film makers advances 4,769 0
TOTAL 4,769 14,275

continued...

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PICTURING HEALTH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
2020
2019
Other creditors
2020
2019
Other creditors
2020
2019
Other creditors
2020
2019
£ £
Reimbursement of monies loaned by film-makers for working capital 0 7,800
Kangaroo Care 0 334
General fund loan to projects prior to income (note 5) 4,167 1,280
Memory cafe 0 6,475

TOTAL
4,167 15,889

5. LOANS

Working capital loans occur when payments are made prior to funding being received.

6. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.20 in funds funds 31.12.20
£ £ £ £
Unrestricted funds
General fund 1,824 4,313 1,572 7,709
Restricted funds
Adolescent HIV Project (PENTA) 2,591 - (2,591) -
CurArteUk Donations 9 - (9) -
Kangaroo care (1,362) 334 1,028 -
RAMPART trial (251) 251 - -
COVID - (2,905) - (2,905)
Blood transfusion - 7,123 - 7,123
NEST - 3,447 - 3,447
Odyssey - (39) - (39)
SHINE - (1,223) - (1,223)
987 6,988 (1,572) 6,403
TOTAL FUNDS 2,811 11,301 - 14,112

continued...

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PICTURING HEALTH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

6. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 5,760 (1,447) 4,313
Restricted funds
Adolescent HIV Project (PENTA) 7,800 (7,800) -
Kangaroo care 334 - 334
Memory Cafe project 6,353 (6,353) -
RAMPART trial 2,700 (2,449) 251
COVID 3,799 (6,704) (2,905)
Blood transfusion 14,850 (7,727) 7,123
NEST 8,215 (4,768) 3,447
Odyssey 1,931 (1,970) (39)
SHINE - (1,223) (1,223)
45,982 (38,994) 6,988
TOTAL FUNDS 51,742 (40,441) 11,301

Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.19 in funds funds 31.12.19
£ £ £ £
Unrestricted funds
General fund 3,317 (4,698) 3,205 1,824
Restricted funds
Adolescent HIV Project (PENTA) 2,591 - - 2,591
Inspire Project (WHO) 842 - (842) -
CurArteUk Donations 8,510 (8,501) - 9
WHO (World Health Org) Street Vendor
Comm 5,896 (2,900) (2,996) -
Thanzi Project Commissions 1,271 (1,308) 37 -
TRACT trial (3,329) 4,883 (1,554) -
Kangaroo care (3,580) 68 2,150 (1,362)
RAMPART trial - (251) - (251)
12,201 (8,009) (3,205) 987
TOTAL FUNDS 15,518 (12,707) - 2,811

continued...

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PICTURING HEALTH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

6. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,036 (5,734) (4,698)
Restricted funds
CurArteUk Donations - (8,501) (8,501)
WHO (World Health Org) Street Vendor
Comm 3,264 (6,164) (2,900)
Thanzi Project Commissions 3,138 (4,446) (1,308)
TRACT trial 7,832 (2,949) 4,883
Kangaroo care - 68 68
AALPHI Project 2,700 (2,700) -
Memory Cafe project 6,475 (6,475) -
RAMPART trial - (251) (251)
23,409 (31,418) (8,009)
TOTAL FUNDS 24,445 (37,152) (12,707)

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

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PICTURING HEALTH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2020
2020 2019
£ £
INCOME AND ENDOWMENTS
Charitable activities
Gifts 3,799 -
Donations 6,094 17,970
Grants 41,849 6,475
51,742 24,445
Total incoming resources 51,742 24,445
EXPENDITURE
Charitable activities
Film-makers fees 33,133 19,680
Flights and travel - 3,068
Workshop costs & activities 3,407 460
Misc costs 2,287 2,873
Website IT & social media fees 1,376 -
Professional fees inc accounts - 9,845
Music rights - 905
40,203 36,831
Other
Bank charges 238 321
Total resources expended 40,441 37,152
Net income/(expenditure) 11,301 (12,707)

This page does not form part of the statutory financial statements

Page 15