PEGASUS (Registered Charity No. 1175685> REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
PEGASUS REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Page Report of the Trustees Report of the Independent Examiner Slalement of Financial Aclivities (incorporaling Income and Expenditure Account) Balance Sheet Notes to the Financial Ststemenls 9-14
PEGASUS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and the financial statements of Pegasus ('the Charity" or 'the Trust'l for the year ended 31 December 2023. The$e have been prepared in accordance with the accounting policies set out on pages 9 - 11 and comply with the trust deed and applicable charity law. The comparative information for the year ended 31 December 2022 was audited. The financial statements comply with the Charities Act 2011 and where relevant, the Charities Act 2022, Ihe Charity's trust deed dated 24 October 2017 and Accounting and Reporting by Charities-. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard 8pplicable in the UK 8nd Republic of Ireland issued in October 2019 ("Chartties SORP (FRS 102).). REFERENCE AND ADMINISTRATIVE DETAILS Pegasus, registered ch8rty number 1175685, is based and administered in the United Kingdom. The registered office is Eighth Floor. 6 New Street Square, London, EC4A 3AQ. TrustfrOS'. The names of the Trustees who served throughout the year and continue to serve at the date of the report's approval are.. Emma Jeffrey Samantha Engbarth Jane Kenyon Bankers: Handelsbanken, 1 Cresswell Park, London, SE3 9RD Inveslment Managers and Custodians: Sarasin & Partners LLP, Juxon House. 100 St Paul's Churchyard, London, EC4M 8BU Accountants: Rawlinson & Hunter LLP Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ Independent Examiner: Michael Foster FCCA. Rawlinson & Hunter LLP Eighth Floor, 6 New Street Square, New Fetter Lane. London. EC4A 3AQ STRUCTURE. GOVERNANCE AND MANAGEMENT The Charity was established by a Declaration of Trust dated 24 October 2017 and registered with the Charity Commission on 10 November 2017 as an unincorporated charitable trust govemed by the proper law of England and Wales. The entire resources of the Charity have been unrestricted throughout the year aThJ the Trustees have complete discretion for the use of the funds in pursuance of the Charity s obje¢twes.
PEGASUS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) The management of the Charity is conducted solely by the Trustees. The Trustees. investment tXlW8rs are unr8Stricted. The Trustees shall hold at least meetings in each calendar year. The number of Trustees shall be a mlnlmum of two at any one lime. Fulure Trustees may be appointed by deed following a resolution of existing Trustee5. With the exception of the original Trustees, each Trustee shall retire from after a term of three years. Retiring Trustees may be re-appointed. Induction and Training Should new Trustees be appointed, a formal induction process will be conducted by the Tnjstees. Other Trustee training is undertaken as and when appropriate. All Trustees are aware of their legal duties and obligations in respect of the management of the Trust. including in relation to the protection of its assels. During the year one of the Trustees attended a certified Trustee training course offered by Sarasln & Partners LLP. The Trustees have signed fit and proper declarations in line with HMRC guidance. Trustee$, Responslbllltles Ststement The Trustees are responsible for preparing the Report of the Truslees and the financial stalemenls in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of the incoming resources and application of reSoUrS of the Charity forthat wiod. In preparing these financial statements. the Trustees are required lo.. select sutlable accounting policies and then apply them consistently.. obseNe the methods and principles in the Charities SORP (FRS 102). make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless r( Is inappropriate to presume that the Charty will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ensure that Ihe financial statements comply with the Charities Act 2011, where relevant the Charities Act 2022, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
PEGASUS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT {¢ontinu•d) Intemal Controls The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of internal controls. They are responsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time the financial position of ihe Charity and enable them to ensure that the financial stalements follow best practlce and all applICab law regu18tion and guidance. The Truslees are also responsible for the Trust safeguarding its assets and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The system of internal controls is designed to provide reasonable. but not absolute, assurance against material misstatement or loss. Rlsk Manag•m•nt A risk assessment has been undertaken which comprises.. An annual review of the risks the Trust may face., The eslablishment of syslems and procedures to mitigate those risks- and The implementalion of procedures designed to minimise any potential impact on the Charity should those risks materialise. This continkjing process will identify risk area8 to which the Charity is vulnerable and highlight any necessary safeguards that will need to be put in place. No major risks were identified at the dat8 of these financial statements. In addition, the Trustees have taken due consideration of Good Govemance A Code for the Voluntary and Community Sector, ensuring that the seven main principles of the Code are adhered to. These are.. Organisational purpose., Leadership., Integrity., Decision-making, risk and control., B08rd eff8cliven8SS' Equality, diversity and inclusion., and Openness and accessibility. The Trustees re¢ognise that good governance play5 an essential part in securing the future of the charty and confirm that the said main principles of the Code are followed by them in leading, directing and managing the charity- Fundraising The Trustees have referred to the Code of Fundr8ising Practice I'the Code.) which was developed by the fundraising community through the work of the Institule of Fundraising and Public FundTai5ing Association, and the Guidance on Charities and Fundraising issued by the Charity Comrnission { CC20"). They confirm that the new Code and CC20 have no Impa on Ihe Charity as it does not engage in any public fundraising activities.
PEGASUS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The objectives of the Trust are to advance such charitable purposes (according to Ihe law of England and Wales) as the Trustees see frt from time to time. The Trust is established for general charitable purposes and will operate as a grant making charity. supporting charitable projects, organisations and individuals with grants of varying sizes and durations. The Trustees must apply the income and 81 their discrelion all or part of the capital of the Charity in promoting the objects in any part of the world as the Truslees may, at their discretion. think frt. Grant Maklng Pollcy The Trustees. grant making policy is to generally consider making donations by way of direct funding and grants to charitable organisations. The recipient projects must be $68n as exclusively charitable under English law. The Charity intends to put in place sound grant arrangements so that it can properly select appropriate grantees and impose prudent terns on grants. including appropriate moniloring and evaluation of the way in which funds are applied by grantees. Statomont of Public Benèfit The Trustees are aware of the Charity Commission guidance on Public Benefit and confim that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to il. They consider the information which follows in this annual report. aboLrt the Trust's aims. activities and achievements in the areas of interest that the Charity supports demonstrates the benefit lo ils beneficiaries and through them to the Public. that arise from those a1Ville5. ACHIEVEMENT AND PERFORMANCE Charitable Activities Dvring Ihe year ended 31 December 2023 the trustees made one new charitable grant of £20,000 and extended two existing commitments by a total of £4,000. 12022 pledged four new committmenls tolalling £215,000} Additionally the trustees made payments of £80,000 towards previously committed grants (2022- £50.000}. Note 4 to the Financial Statements lis15 the grantees. The Trustees, grant making policies are set out in section 3 of this report. Invostmonts A summary of Ihe inveslment movements are set out in Note 6 of these financial slalements. The inveslments are recorded in the Balance Sheet al their market values. Any realised profits or losses on Iransactions carried out during the year, t(yJether with any unrealised increase or decrease in individual value5 or costs established by the investment managers as at 31 DecEmbei 2023. are recorded the Statement of Financial Activit18S. The Trustees, aim is to increase the value of assets with an overall target of 30/y per annum ahead of inflation, to be measured over rolling five-year periods, thereby preserving and growing their value. Infiation is to be measured with reference to the UK Consumer Price Index. The investment portfolio will be monitored and kept under review by the Trustees who t8ke advice from the Investment Advisor. Full valuations and reports will be received from the Investment Advisor relating to each calendar quarter 8nd these will be reviewed by the Trustees formally twice a year. The TnJstees will sign off on any advice before a strategy is implemented.
PEGASUS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE <¢ontlnued) During Ihe financial year ended 31 December 2023 the wrtfolios generated no realised gains or k)sses12022- losses of£297,374) and appreciated by £314,655 (2022-depreciated by £229,326). Invqstment inwme ft)r the year to 31 Dember 2023 tolalled £171.461 (2022 - £87,709). FINANCIAL REVIEW Incoming resources lolalled £171,46112022- £1,173,742). In 2023 there were no legacies received, whilst in 2022 the Charity's income included a legacy of £1.086,033 from the estate of Mr P Jeffrey. Charitable activities totalled £30,840 (2022 - £225,590) relating to charitable expenditure and support costs incurred during the year. Governance costs relate to audit, independent examination and legal fees. The b81ance of unrestricted reserves at 31 December 2023 is £6,246,19212022 - £5.786,070). InStment Policy The Charity's investment objective is to generate a capital appreciation to the Charity in line with the lotal retum of the broader equty market over the loThJ term. after expenses. This should allow the Charlty to m8inlain the 81 value of the assets, whllsl allowlng capital withdrawals to fund ils annual expenditure. The Trustees have delegaled responsibility of the management of the wrtfolio to Sarasin & Partners LLP. Rosorves PoliGy The Trustees have no outstanding commitments or cash demands which are nol adequately covered by existing resourc8s. Th8 net assets of the Charity are regarded as free resejves and the funds al 31 December 2023 will be retained to make grants in accordance with the Charity's charitable objects. The Trustees may adopt a specific reserves wlicy in future years. PLANS FOR THE FUTURE The Trustees do not propose lo deviale from the current objectives and aclivities of the Charity as delailed in section 3 of this report but wll further develop and refine their strategies, policies and procedures in future. Approved by the Trustfrfrs on 19 Septomb•r 2024 and signed on their behalf by:
PEGASUS REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES I report to the charity trustees on my examination of the accounts of Pegasus (Ihe charty") for thè year ended 31 December 2023 which comprise Ihe Statement of Financial Activities. Balance Sheet and the related rKJtes. Rosponsibilities and basis of report As the charitys trustees you are responsible for the preparats'on of the accounls in accordance with the requirements of Ihe Charities Act 2011 ('the Act'}. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carying OLrt my examination I have followed 811 the applicable Directions given by the Charity Commission under section 14515}Ibl of the Act. Independent Examlner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe thal in any material respect: accounting records were not kept in respect of the ¢harity as required by section 130 of the Act,. or 2. the accounts do not accord with those records.. or 3. the accounls do not comply wth the applicable requirements concerning the fom 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 examinatlon. I have no concerns and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. Michael Foster FCCA Chartered Certified Accountant and Independent Examiner Rawlinson & Hunter Eighth Floor 6 New Street Square London EC4A 3AQ RAWLINSOI4 & HUNTER
PEGASUS STATEMENT OF FINANCIAL ACTIVITIES (Incorporatlng Income and Expendllur• Account) FOR THE YEAR ENDED 31 DECEMBER 2023 Unreslricled Funds Page 2023 2022 Income from: Investments (note 21 Donalions (note 31 11 11 171,461 87,709 1,086,033 Total Sncome 171,461 1,173,742 Expondituro on: Charilable activities Inole 4> Raising funds- Investment management fees (note 5) 12 12 30,840 {4,846) 225,5 3,775 Total expenditure 25,994 229,365 Net gainsl{losses) on investment {nole 61 13 314,655 (526,701) Net income 460.122 417,676 Net movernent in funds 460,122 417,676 Reconclliatlon of funds: Funds brought forward at 1 January 2023 5,786,070 5,368,394 Total ndS carrled forward at 31 December 2023 £ 6.246,192 £ 5,786,070 There are no recognised gains or losses in the years ended 31 December 2022 and 2023 other than those included in the Statement of Financial Activities. All incoming resources and resources expended derive from continuing activities. The notes on pages 9 to 14 fomi part of these finan¢ial statements.
PEGASUS BALANCE SHEET AT 31 DECEMBER 2023 Unrestricted Funds Page 2023 2022 Flxed assets- Inveslmenls (note 6) 13 6,026,105 5.542.213 Current assets: Cash at bank (note 7) 13 305,247 411,987 Curr•nt liabilitie5: Creditors.. amounts falling due within one ye8r (note 81 13 {65,1601 (88.130) Net current assets 240,087 323,857 Total assets less current Ilabllllles 6,266,192 5,866,070 Creditors.. amounts falling due in more than one year (note 9) 13 120,000) 180.000) Total net assets £6,246.192 £5,786,070 Th• funds of tha ¢harity Unreslricled funds 6,246,192 5,786.070 Total charity funds £6,246,192 £5,786,070 The financial statements were approved and authorised for issue by the Trustees and were signed on their behalf by: rustee Namel Date The notes on pages 9 to 14 fom part of these financi81 ststements.
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES General Infom)ation Pegasus I'the Trusy, or'lhe Charity"} is a charity registered in England (charity number 1175685}- The Trustees musl apply the income and al their discretion all or part of the capital of the Charily i promoting the objects in any part of the world as the Trustees may, al their discretion, think fit. The address of the registered office is given on page 1 of these financial statements. Basls of accountlng The financial statements h8ve been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland issued in October 2019, the Financial Retyjrting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charilies Act 2011, where relevant the Charities Act 2022, and UK Generally Accepted Accounting Pradice. The Charity conslilutes a public benefit entity as defined by FRS 102 The Charity has applied the provisions set out in FRS 102 as published in October 2019 and on that basis does not include a Statement of C8shflow. The significant accounting policies applied in the preparation of these financial statomenls are set out below. These policies have been consistently applied lo all years presented unless otherwise $tated. In applying the flnancial reportSng framework, the Trustees are required to make a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judg&ments are conlinualty evaluated and are based on historical experience and other factors, including expeclalions of future events that are believed lo be reasonable under the circumstances. The nature of the estimation means the actual oulcomes could differ from those estimates. The Trustees confirm that they have made no signfficant estimates and judgements affecting these financial statements. Incoming resources For donations lo be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached lo the donation and this requires a level of perfomance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity 8nd it is probable that they will be fulfilled. For legacies. entitlement is the earlier of the Charity being notlfied of an Impending distribution or the legacy being received. At ihis point income is recognised. On occasion legacies will be notified lo the Charity however it is not possible lo measure the amount exp&cled to be distributed. On these occasions. the legacy is treated as a contingent asset and dis¢losed. Investment income is derived from interest 8nd dividends receiv8ble from investments and is accounted for in the period in which the Trust is entitled lo recelpl. Interest from deposit accounts are included as and when received only
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES {continued) Resources expended All expendilure is included on an accruals basis and is re¢ognised when there is a legal or constructive obligation committing the Trustees to the expenditute. Charitable activities include governance costs made during the period and are expended through the SOFA when the offer Is conveyed to the recipient. Cost of raising funds relate to the costs incurred by the Trust in managing its investment wrtfolios. Governance costs relating to Ihe general running of the Trusl, as opposed to the management functions inherent in generating funds. Fixed ass•t Inv•stm8nts Investments are a forn of basic financial instrument and are intiially recognised al their transaction value and subsequently measured al their fair value as at Ihe balance sheel dale using Ihe closing quoted market price. Any ch8nge in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading "Net Ilossesllgains on investments" in the statement of financial activities. The Trust does not acquire put options, derivatives or other complex financial inslruments. Financial Instruments The charity only has financial asset5 and financial liabilities of a kind that qualify as basic financlal instruments. Basic financial instruments are recognised at transaction value. except whe settlem8nt 15 delayed, in which case the transaction is recognised at the present value of the settlement amount. Statu5 of funds The entire resources of the Trust are unrestricted and the Trustees have complete discretion for their use in pursuance of their objectives. Debtors and creditors receivablelpayable wlthln onè yèar Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as exper)diture. Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposits held on call with banks, other short-temi highly liquid investments with original maturllles ol three months or less and bank overdrafts. Bank overdrafts. when applicable. are withln borrowing In current liabilities. 10
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Icontlnued) Golng Concern The financial statements hav8 been prep8red on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the lev81 of funds held and the expected level of income and expenditure for twelve months from the date of signing of these financial statements. The forecasl income and rtseNes are sufficient lo cover all of the budgeted expenditure lo be able to continue as a going COnrn. The ongoing ¢onfli¢ts in Ukraine and the Middle East and other cost inflationary factors have affected the global economy. Havin9 considered the contingency plans in place and having reviewed updated cashflow forecasts, the Trustee5 consider the adoption of the going concern basis in preparing these financial stalements continues lo be appropriate. Provisions Provisions are recognised when the Trust has an obllgation at the Balance Sheet date as a result of a past event, it is probable that an outflow of e¢onomiG benefit will be required in settlement and the amount can be reliably estimated. Taxatlon The Charity is not subject lo any taxes on its charitable activities. Irrecoverable VAT Is charged against the category of resources expended for which it was incurred. Page 2023 2022 INCOME FROM INVESTMENTS Accumulation dividends Bank deposll interest Dividends 162.784 8.677 70,770 1,863 15.076 £ 171,461 £ 87.709 INCOME FROM LEGACIES Legacy income £ 1,086,033 11
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pa 2023 2022 CHARITABLE ACTIVITIES The following grants were awarded lo charitable institutions during the year ended 31 t)ecember 2023: The Brigitte Trust (Reg. charity no. 1782730} st Mungo'scommunity Housing Associats'on {Reg. charity no. 1149085) The Big Issue Foundation (Reg. charity no. 1049077) ActionAid (Reg charity no. 274467) DEC Ukraine Fund (Reg. charity no. 1062638) South East London Arts Neork (Reg. charity no. 1157803) Clean Break Theatre Company {Reg. charity no. 1017560} 20,000 2,000 2.000 150,000 25,000 20,000 20.000 24,000 215.000 Support Gosts Accountancy fees (governance cost) Independent examir)ation fees (governance cost) Audit fees (governance costl 5.640 1,200 6,360 4.230 6,840 10,590 Total Charftable Actlvllles £ 30,840 £ 225,590 2023 2022 EXPENDITURE ON RAISING FUNDS Nucleus investment managemenl fee Sarasin & Partners LLP management fee rebate 4,841 11,066) 14.846) £ 14,846) £ 3,775 Sarasin & Partners LLP deduct management fees internally from their fund. The amount deducted is compared againsl the fee that would have been charged on the underlying investments if they were held outside of the fund on a discretionary basis and the difference is refunded lo the charty- 12
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page 2023 2022 FIXED ASSET INVESTMENTS Inveslments at markel value comprlse: Quoted investments 6,026,105 5,542,213 Total investment assets £6,026.105 £5,542,213 Quoled inve5tmen15 Market value at 1 January 2022 Net investment activity Net gains1{losses) on investment activity 5.542.213 169,237 314.655 5,224,205 844,709 1526,701) Market value at 31 December 2022 £6,026,105 £5,542,213 Net gainsl(losses) on Investment assets Net realised Ilossesl on sales Net unrealised gainl{lossesl on revaluation 1297,375) {229,326) 314.655 Total net gainsl(losses) on investment assets £ 314,655 £ 1526,701) 2023 2022 CASH AT BANK Handelsbanken Sarasin & Partners income account 305,244 410,497 1,490 £ 305,247 £ 411,987 2023 2022 CREDITORS- amounts falling due within ona year Grant commitments due within one year (note 10) Accounlancy fees Independent examination fees Audit fees 60,000 3,960 1.200 80,000 3.630 4,500 £ 65,160 £ 88,130 2023 2022 CREDITORS- arnounts falling due beyond one year Grant commitments due in more Ihan one year (note 101 £ 20,0(KJ £ 80,000 13
PEGASUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pago 2023 2022 10. GRANT COMMIThMENTS The Trustees have committed granls lo the following organisations. Whilst there are terms placed on the future year commitments, the Trustees are of the opinion that there is a high likelihood of the terms being met and therefore have recognised the outstanding amounls in full. ActionAid {Reg. charity 2744671 LangaLanga Trust (Reg. charity no. 1076360) Sl Mungo's Community Housing Association (Reg. charity no. 1149085 The Big Issue Foundation (Reg. charity no. 1049077) 50,000 30,000 100,000 40,000 10,000 10,000 13 £ 80,000 £ 160,000 11. CONTINGENT ASSETS- LEGACY INCOME The charity 15 aware that further funds may be received as the ongoing administration of an Estate, of which the charity is a beneficiary, continues. At this time, the totsl value of the estate is uncertain. Therefore no amount has been accrued in respect of thi5 legacy. 12. RELATED PARTY TRANSACTIONS During the year to 31 December 2023. the Charity has no related party transactions12022- received a legacy from the estate of Mr P Jeffrey, father of one of the Trustees. of £1.086,033). No Truslee received any remuneration or reimbursement of expenses during the year lo 31 December 2023 {2022 - £Nil). 13. FINANCIAL INSTRUMENTS 2023 2022 The carry amounts of the charity's financial inslwmenls are as follows.. Financi8188sets- measured at fair value through SOFA.. -Fixed asset investments -cash at bank and in hand 13 13 8.026,105 305,247 5,542,213 411,987 Financi81 lialItIeS - measured at amortised cost -creditors 13 5,160 8,130 The income. expenses, nel gains and net losses attributable to th8 chariws financial instruments are summarised as follows.. InGome and expense measured at fair value through SOFA." -Net gains/(losses) (including changes in fair value) 13 314,655 {526,701 } 14