2021-09-30-accounts - Paddle Round The Pier

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REGISTERED COMPANY NUMBER: CE010827 (England and Wales)
REGISTERED CHARITY NUMBER: 1174337

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

`FOR`

`PADDLE ROUND THE PIER`

Cardens Accountants and Business Advisors Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

PADDLE ROUND THE PIER

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021`

		`Page`
`Report of the Trustees`	`1`	`to`	`3`
`Statement of Financial Activities`		`4`
`Balance Sheet`		`5`
`Notes to the Financial Statements`	`6`	`to`	`10`
`Detailed Statement of Financial Activities`		`11`

PADDLE ROUND THE PIER

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended30September2021.Thetrusteeshaveadoptedthe provisions
ofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Objectives and aims

TheCharitywasfoundedin2017aftersuccessfullyrunningasalimitedcompanyunderthedirectorshipofDavid Samuel
for over 20 years.

Paddle Round the Pier aims to:

" Promote a healthy and active lifestyle.

"Provideacommunityplatformwherelocalpeoplecanaccessbeachandwatersportswhilstraisingmoneyfor
good causes.

" Promote local beach & water sports facilities, associations, clubs and the sea as a free activity playground.

" Educate children and young people on first aid, sea safety and lifesaving skills.

"Provideaninclusiveeventwherechildrenandyoungpeoplewithdisabilitiesareabletoaccessequalfacilitieson the
beach and in the sea.

"Tocelebrateinthecomingtogetherofthewatersportscommunitytocollectfundsforlocalcharitiesand
organisations.

`Significant activities`

Thefocusofallourcurrentfundraisingisthe'PaddleRoundthePierBeachFestival'heldannuallyduringthe first
weekendinJuly.Itisafreeeventwhichseesatremendouseclecticmixofseabasedeventssuchassurfing; Stand-up
Paddle;diving;canoeingandahugelypopularraftrace;"PaddleSomethingUnusual"withthousandsofparticipants and
spectators.Theswimmingracesareaparticularhighlightwithover600adultsandchildrentakingpart.Onthe land,
thereisanalmost1kmlong"PaddleVillage"comprisingentertainmentsofalltypesfrommusictostreetdance.A 20m
DemonstrationPoolandfullsizehumandivingtankcompletestheWatersportsattractions,withmanyfoodand drink
outletstolookafterthecirca50,000personfootfallovertheweekend.Therearealsoaround200boardsports/ lifestyle
brand and industry exhibitors.

DuetoCovidwewereunabletoholdaneventinJuly2020or2021butplantoholdasmalleronedayeventin2022, if
the current situation at that time allows.

`Public benefit`

TheTrusteesconfirmthattheyhavecompliedwiththedutyinsection17(5)oftheCharitiesAct2011tohave due
regardtotheguidancepublishedbytheCharitiesCommissiononpublicbenefitwhenreviewingtheCharity'smain aims
and objectives, and in planning future activities for the year.

Paddle Round the Pier benefits the public in a number of ways:

" Creating an Access Beach to allow disabled visitors to swim in the sea
" Gives grants to Sussex based organisations who promote the healthy enjoyment of the seaside
" Promoting care for the environment and sustainable living

" Providing the opportunity for those who may not normally be able to, to take part in a variety of water-based activities.

" Young and old a like are able to experience a water activity

" An opportunity for the community to celebrate the benefits of seaside living.

`Volunteers`

Asmallgroupofvolunteers,includingtheTrustees,referredtoasthe'PaddleCrew'helporganisetheeventandthey are
thenjoinedbyalargerteamofpeopleduringtheeventitself.TheseincludelocalArmyCadets,LifeGuardsand 'bucket
shakers'tonamebutafew.However,aswewereunabletoholdtheeventinJuly2021duetoCovidwehave just
continued with our volunteer Trustees. A total of 5 people completing a total of 75 hours.

`STRATEGIC REPORT`

`Achievement and performance Charitable activities`

UnfortunatelyduetherestrictionsimposedbyCovidwewereunabletoholdtheBeachFestivalsoweareunable to
report on this for 2021.

Page 1

PADDLE ROUND THE PIER

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`STRATEGIC REPORT`

`Financial review`

`Financial position`

Astheannualbeachfestivalhashadtobecancelledthisyearwewillnotgenerateanyincometopassonto local
charities and organisations so are unable to offer any Grants.

PRTPhasahealthybankbalanceandlimitedoutgoingssoisinagoodpositiontocontinuewitheventswhenthis is
permitted.

We have reviewed our expenses and these are at a minimum.

`Reserves policy`

PaddleRoundthePierdoesnotmaintainaReservesFund.AftereachPaddleeventweensurewehavepaidallof our
costsandthengrantsaremadetolocalorganisations.However,astheeconomyhasbeenmoreuncertainand the
worldisfacingadifficulteconomicfuture,sinceCovid19thetrusteesplantokeepaslightlylargeramountinthe bank
account to buffer against any financial challenges the charity may face in the future.

`Principal risks and uncertainties`

Thetrusteesensurethattheycarryoutregularandongoingassessmentsofthepossibleriskstothecharityand in
particular the organisation of the annual Beach Festival.

`" Covid restrictions`

" A depressed economy may lead to fewer sponsors and therefore less sponsorship being secured.
" Uncertainty due to leaving the EU.
" Adverse weather impacting visitor numbers and reducing income.
" Adverse sea conditions which may impact on the water based programme
" Major events such as the football world cup clashing with the beach festival

ThemainrisktotheeventcurrentlyisCovid19restrictions.Weneedtobecertainthatifweareputtinganeventon that
itcangoaheadandnotbecancelledatthelastminute.WiththisinmindtheTrusteeshavebeenlookingathowwe can
restartPRTPBeachFestivalinasmallerwaytoensurethatwehavelimitedexpensesbutstillraisemuchneeded funds
forlocalorganisations.ByfocussingpurelyonthewatereventsandnothavingaBeachVillagewithbars,catering and
stalls we do not need to budget for fencing, security, electricity and will have a reduced insurance cost too.

WealwaysensurethatwehaveinsuranceintheeventthattheBeachFestivalhastobecancelledduetosevere weather
conditions.Weensurethatallcostsarecoveredpriortotheeventandthereforeallfundsraisedcanbegivento local
charitiesviaourGrantsscheme.Theamountgiventocharityisdependentontheamountcollectedatthe event;
therefore we adjust the amount given to charity.

`IMPACT OF COVID 19`

Covid19hascontinuedtoimpactourdecisionmaking.Asacharitywedonotwanttotakeanyriskswithourfunds and
have continued to meet to ensure that we consider all of our options.

WehavenotheldanAGMthisyearaswefelttherewasverylittletoreportaswehadnotheldaneventandthat we
would like to have the AGM when we can all meet to start planning our next steps with our volunteers.

`Future plans`

TheTrusteesareplanningtoholdPRTPinJuly2022butina'Backtoitsroots'way.Byholdingtheeventforoneday on
3rdJuly2022andjustholdingwatereventswehopetoraisemuchneededfundsforlocalorganisationswithout having
much expenditure or relying on sponsorship.

Wewilloffergrantsfor2022andwillaimtoopentheseinJune2022withtheopportunityforlocalorganisationsto apply
for grants up to £2,000 which will be awarded in October 2022.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

The charity is controlled by its constitution, dated 14th March 2017 and operates as a CIO. This is due to be reviewed.

Page 2

PADDLE ROUND THE PIER

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees`

Alltrusteesgivetheirtimevoluntarilyandthereforereceivenobenefitfromthecharity.Apartfromthefirst charity
trustees,everytrusteemustbeappointedforatermofthreeyearsbyaresolutionpassedataproperly convened
meetingofthecharity.Inselectingindividualsforappointmentascharitytrustees,thecharitymusthaveregardto the
skills, knowledge and experience needed for the effective administration of the organisation.

Anytrusteevacancieswillbeadvertisedamongthecharity'svolunteersandserviceprovidersaswefeelthatitis vital
thatallTrusteesareveryfamiliarwiththeorganisationandethosoftheevent.Ifapproachedbyanyoneinterested in
becomingaTrusteewhohasnotpreviouslyinvolvedintheevent,wewillinvitethemtobecomeinvolvedandthen apply
tobeatrustee.IfnoneofourvolunteersorServiceprovidersappliedtobetrustees,thenthevacancywould be
advertised in the wider community.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

CE010827 (England and Wales)

`Registered Charity number`

`Registered office`

The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

Trustees
R Pelling
Ms J Silverson
J Lewis
Ms D A Buddel
Ms A Harris

`EVENTS SINCE THE END OF THE YEAR`

Information relating to events since the end of the year is given in the notes to the financial statements.

ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relating to
small companies.

Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,asthe company
directors, on 9 June 2022 and signed on the board's behalf by:

Ms J Silverson - Trustee

Page 3

PADDLE ROUND THE PIER

`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2021`

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,209
Investment income
2
-
Total
1,209
EXPENDITURE ON
Raising funds
626
Charitable activities
Charitable donation
-
Other
2,594
Total
3,220
NET INCOME/(EXPENDITURE)
(2,011)
RECONCILIATION OF FUNDS
Total funds brought forward
17,612
TOTAL FUNDS CARRIED FORWARD
15,601
CONTINUING OPERATIONS 2020
Total
funds
£
3,293
1
3,294
5,350
16,710
2,956
25,016
(21,722)
39,334
17,612

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 4

PADDLE ROUND THE PIER

`BALANCE SHEET 30 SEPTEMBER 2021`

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
6
1,710
Tangible assets
7
3,287
4,997
CURRENT ASSETS
Debtors
8
973
Cash at bank
11,152
12,125
CREDITORS
Amounts falling due within one year
9
(1,521)
NET CURRENT ASSETS
10,604
TOTAL ASSETS LESS CURRENT LIABILITIES
15,601
NET ASSETS
15,601
FUNDS
10
Unrestricted funds:
General fund
15,601
TOTAL FUNDS
15,601 2020
Total
funds
£
1,994
4,382
6,376
959
11,897
12,856
(1,620)
11,236
17,612
17,612
17,612
17,612

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 30 September 2021.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its 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 Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9June2022and were
signed on its behalf by:

J Silverson - Trustee

The notes form part of these financial statements

Page 5

PADDLE ROUND THE PIER

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financial statements have been prepared under the historical cost convention.

Theaccountsarepreparedonagoingconcernbasisafterconsiderationbythetrusteesthatthereareno material
uncertaintiesabouttheCharity'sabilitytocontinueasagoingconcern.Suchconsiderationincludesareview of
committedincomeandexpenditures,cashflowsandreserves.Thetrusteesdonotconsiderthatthereare any
sourcesofestimationuncertaintyatthereportingdatethathaveasignificantriskofcausinga material
adjustment to the carrying amount of assets and liabilities within the next reporting period.

`Financial reporting standard 102 - reduced disclosure exemptions`

Thecharitablecompanyhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland':

the requirements of Section 7 Statement of Cash Flows.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.

Fixtures and Fittings    25%    on a reducing balance basis.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

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

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. 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.

continued...

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PADDLE ROUND THE PIER

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`2. INVESTMENT INCOME`

`2.`	`INVESTMENT INCOME`
		`2021`	`2020`
		`£`	`£`
	`Deposit account interest`	`-`	`1`
`3.`	`NET INCOME/(EXPENDITURE)`
	`Net income/(expenditure) is stated after charging/(crediting):`
		`2021`	`2020`
		`£`	`£`
	`Depreciation - owned assets`	`1,095`	`1,460`
	`Website Costs amortisation`	`284`	`285`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2021norforthe year
ended 30 September 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended30September2021norfortheyear ended
30 September 2020.

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`3,293`
`Investment income`	`1`
`Total`	`3,294`
`EXPENDITURE ON`
`Raising funds`	`5,350`
`Charitable activities`
`Charitable donation`	`16,710`
`Other`	`2,956`
`Total`	`25,016`
`NET INCOME/(EXPENDITURE)`	`(21,722)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`39,334`
`TOTAL FUNDS CARRIED FORWARD`	`17,612`

continued...

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PADDLE ROUND THE PIER

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`6.` `INTANGIBLE FIXED ASSETS` `COST` `At 1 October 2020 and 30 September 2021` `AMORTISATION` `At 1 October 2020` `Charge for year` `At 30 September 2021` `NET BOOK VALUE` `At 30 September 2021` `At 30 September 2020` `7.` `TANGIBLE FIXED ASSETS` `COST` `At 1 October 2020 and 30 September 2021` `DEPRECIATION` `At 1 October 2020` `Charge for year` `At 30 September 2021` `NET BOOK VALUE` `At 30 September 2021` `At 30 September 2020` `8.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `2021` `£` `Prepayments and accrued income` `973`	`Website` `Costs` `£` `2,849` `855` `284` `1,139` `1,710` `1,994` `Fixtures` `and` `fittings` `£` `10,386`
	`6,004` `1,095`
	`7,099`
	`3,287`
	`4,382`
	`2020` `£` `959`

continued...

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PADDLE ROUND THE PIER

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`9.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`2021`	`2020`
			`£`	`£`
	`Trade creditors`		`1`	`-`
	`Accruals and deferred income`		`1,520`	`1,620`
			`1,521`	`1,620`
`10.`	`MOVEMENT IN FUNDS`
			`Net`
		`At`	`movement`	`At`
		`1.10.20`	`in funds`	`30.9.21`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`17,612`	`(2,011)`	`15,601`
	`TOTAL FUNDS`	`17,612`	`(2,011)`	`15,601`
	`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`1,209`	`(3,220)`	`(2,011)`
	`TOTAL FUNDS`	`1,209`	`(3,220)`	`(2,011)`

`Comparatives for movement in funds`

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `At` `movement` `At` `1.10.19` `in funds` `30.9.20` `£` `£` `£` `39,334` `(21,722)` `17,612` `39,334` `(21,722)` `17,612`	`Net` `At` `movement` `At` `1.10.19` `in funds` `30.9.20` `£` `£` `£` `39,334` `(21,722)` `17,612` `39,334` `(21,722)` `17,612`
		`17,612`

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

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`3,294`	`(25,016)`	`(21,722)`
`TOTAL FUNDS`	`3,294`	`(25,016)`	`(21,722)`

continued...

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PADDLE ROUND THE PIER

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`10. MOVEMENT IN FUNDS - continued`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `At` `movement` `At` `1.10.19` `in funds` `30.9.21` `£` `£` `£` `39,334` `(23,733)` `15,601` `39,334` `(23,733)` `15,601`	`Net` `At` `movement` `At` `1.10.19` `in funds` `30.9.21` `£` `£` `£` `39,334` `(23,733)` `15,601` `39,334` `(23,733)` `15,601`
		`15,601`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are
as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`4,503`	`(28,236)`	`(23,733)`
`TOTAL FUNDS`	`4,503`	`(28,236)`	`(23,733)`

`11. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 30 September 2021.

`12. POST BALANCE SHEET EVENTS`

During the Autumn of 2021 we were still very uncertain whether an event could be held in July 2022.
WiththefinancialdifficultiescausedbyCovidwefeltitunwisetotryandraisethesameamountof sponsorship
asinpreviousyears.Wewouldnotbeabletoguaranteethattheeventwouldgoaheadorthatwecould raise
sufficient sponsorship and therefore felt that if we continued to plan for an event it would have to be downsized.

TheTrusteesdecidedthataonedayeventon3rdJuly2022focussingonjustthewatereventswouldbethe best
wayforward.WewouldthereforenothavetheBeachVillageincludingmusicstagesandbarswhich would
dramatically reduce our outgoings

Bri-Triareorganising3swimeventsandweareorganisingPaddleSomethingUnusual,a1KSUPandthe Big
Paddle so hope to raise some funds for local organisations to be distributed via our Grant Scheme.

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PADDLE ROUND THE PIER

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021`

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES` `FOR THE YEAR ENDED 30 SEPTEMBER 2021`
	`2021`	`2020`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Donations`	`1,209`	`1,293`
`Sponsorship`	`-`	`2,000`
	`1,209`	`3,293`
`Investment income`
`Deposit account interest`	`-`	`1`
`Total incoming resources`	`1,209`	`3,294`
`EXPENDITURE`
`Other trading activities`
`Event Costs`	`-`	`1,093`
`Management Fees`	`-`	`3,750`
`Insurance`	`273`	`207`
`Subscriptions`	`115`	`115`
`Storage Costs`	`238`	`185`
	`626`	`5,350`
`Charitable activities`
`Charitable donations`	`-`	`16,710`
`Support costs`
`Finance`
`Bank charges`	`62`	`59`
`Other`
`Development costs`	`285`	`285`
`Fixtures and fittings`	`1,095`	`1,460`
	`1,380`	`1,745`
`Governance costs`
`Computer Expenses`	`152`	`152`
`Accountancy and legal fees`	`1,000`	`1,000`
	`1,152`	`1,152`
`Total resources expended`	`3,220`	`25,016`
`Net expenditure`	`(2,011)`	`(21,722)`

This page does not form part of the statutory financial statements

Page 11