Charity number: 1176399 ## Gloucester Vineyard Church Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2023 Gloucester Vineyard Church Contents Page For the year ended 31 December 2023 |Report of the Trustees|1 to 4| |---|---| |Independent Examiner's Report to the Trustees|5| |Statement of Financial Activities|6| |Statement of Financial Position|7| |Notes to the Financial Statements|8 to 14| |Detailed Statement of Financial Activities|15 to 16| ## Gloucester Vineyard Church Report of the Trustees For the year ended 31 December 2023 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2023. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** Gloucester Vineyard Church is an evangelical church based in Gloucestershire. We are creating a community that brings hope and joy to Gloucester by introducing people to Jesus and teaching them to live by His example. We are committed to the alleviation of poverty, especially that which affects children, and helping people to become all they were created to be. The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **Volunteers** The Church is grateful to all individuals and organizations who have contributed to the overall income and success of projects undertaken. 1 of 16 ## Gloucester Vineyard Church Report of the Trustees Continued ## For the year ended 31 December 2023 ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** In 2023 Gloucester Vineyard Church continued in our mission to create communities which bring hope and joy to Gloucestershire. We have been delighted to see growth in the church and many people continue to explore faith with us, start or continue a discipleship journey or get baptised. We continue to invest in the children and young people who call our church home, teaching them to follow Jesus and live according to His Kingdom ethic. We have also continued to welcome folks from the street sleeping rough, inviting them in for a hot drink, something to eat and an opportunity to join the community. We have been delighted that some of these folks are starting to join the congregation. We have continued in our mission to turn people outwards’ to love and serve their neighbours and have continued to train and invest in new leaders to start new initiatives and bolster our existing ones. We have continued to build on our partnership with the Methodist congregation on Northgate Street, sharing their spaces for both regular Sunday worship and outreach in the community. The partnership has developed such that rather than simply hiring space from the Methodists we have partnered with them to renovate and update their facilities to make them more fit for purpose. ## Super Sundays/Community service As part of our regular rhythms as a church, we have continued to mobilise our congregation once a month to serve the people of Gloucester in practical ways. In total we estimate we have volunteered 1200 hours in 2023 on these regular Sundays alone, not counting other voluntary hours given during the week. Activities have included litter picking, developing the outdoor space for Kingsholm primary school, sorting donations of baby clothes, painting community centres, and running a football club for asylum-seeking men. ## Unity Community We have also continued our partnership with GARAS (Gloucestershire Action for Refugees and Asylum Seekers) to serve our asylum-seeking community in the city in meaningful ways. This has included our weekly conversation club, football club, volunteering opportunities and international meals. Alongside these organised activities, we were encouraged to see many of our congregation opening their homes and sharing their home and resources with families seeking asylum to aid their integration into the city and the community. We have been basing many of these activities from a small Methodist chapel on Barton Street which has extended our partnership with the Methodist circuit in Gloucestershire. ## Growbaby and Vibes An exciting development this year was the creation of Gloucester Growbaby, a service which collects, sorts and distributes baby clothes and equipment for free to those in need in Gloucester. Funding to start this project was gained through the National Lottery community fund as well as donations from the church. We have been delighted to base this project from a basement room in the Methodist church hall on Northgate Street and are very grateful to the Methodist congregation for generously allowing us to use the space for a very minimal rent. In 2023 we started collecting and distributing clothing to a handful of families who have been referred to us. We are hopeful that in 2024 we will see many more families come through and also encounter community at our Vibes toddler group which runs at the same time. ## Big Give’ May and other financial giving In May we held a giving campaign in the church, encouraging the congregation to donate to 2 projects over and above their regular giving. We raised £2909.85 which was divided between Unity Community and the World Vision disaster relief fund. ## CAP GVC has remained the lead partner of seven churches that have united to run the Gloucester debt centre (Christians Against Poverty’). The centre has continued to engage up to 4 new households each month offering a route out of debt and an offer to join a supportive community. ## Plans for 2024 In 2024 we plan to invest in and expand our outreach and community service initiatives as we continue to grow and encourage people to serve and live as Jesus did. We hope to serve 500 families through Growbaby and build on our partnership with the Methodist circuit in both the city centre and on Barton Street. 2 of 16 ## Gloucester Vineyard Church Report of the Trustees Continued ## For the year ended 31 December 2023 ## **FINANCIAL REVIEW** The Charity has acheived incoming resources of £103,859, expended resources of £95,206, resulting in a surplus for the year of £8,653. This compares to income of £85,627, expenses of £68,458 and a surplus of £17,169 in the previous period. Cash held at the reporting date amounted to £81,499, compared to £73,653 for the previous period. Total funds available as at the reporting date amounted to £86,284, of which £28,750 was restricted and the remaining £57,534 was unrestricted. This compared to funds of £77,631, of which £18,958 was restricted and £58,673 was unrestricted. ## **Reserves** The Charity aims to have surpluses to cover three months of operation in the event of a closure or no income being received. Amounts held in reserve accounts away from day to day accounts amounted to £49,913, compared to £33,467 at the previous reporting date. ## **Going concern** The Charity is dependant generous donations it receives. However, on the basis of strong reserves and many committed members giving, the Trustees determine that a going concern basis is appropriate for the preparation of these accounts. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Church is governing by a CIO Foundation model, registered 20 December 2017. ## **Recruitment and appointment of trustees** The original board of Trustees were selected from our sending Church, Aylesbury Vineyard Church (charity number 3424117). There are no provisions with the constitution for selection of Trustees other than by existing Trustees. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Gloucester Vineyard Church **Charity registration number** 1176399 **Principal address** Northgate Street Gloucester Gloucestershire GL1 2AN ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Daniel Smith Dr Stephen Burnhope Blair Strong (: 24 July 2023) Joma Lawton Alyson Meredith (Appointed: 24 July 2023) Darren Reho (Appointed: 24 July 2023) **Independent examiners** Swift Accountancy Swift Farm, Sandy Lane Ashford Kent TN26 1JN 3 of 16 Gloucester Vineyard Church Report of the Trustees Continued For the year ended 31 December 2023 Approved by the Board of Trustees and signed on its behalf by ............................................................................. Daniel Smith (Director) 18 October 2024 4 of 16 ## Gloucester Vineyard Church Independent Examiners Report to the Trustees ## For the year ended 31 December 2023 I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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. A prior period adjustment was included and details can be found at note 7 of the financial statements. Adam Clegg FCCA BSc (Hons) - 2670702 Swift Accountancy Swift Farm, Sandy Lane Ashford Kent TN26 1JN 18 October 2024 5 of 16 ## Gloucester Vineyard Church Statement of Financial Activities ## For the year ended 31 December 2023 |**Notes**
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Investments
4
**Total**
**Expenditure on:**
Charitable activities
5/6
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
-
63,473
428
**63,901**
(65,041)
**(65,041)**
**(1,140)**
58,673
**57,533**|**Restricted**
**funds**
**£**
9,112
30,734
112
**39,958**
(30,165)
**(30,165)**
**9,793**
18,958
**28,751**|**2023**
**£**
9,112
94,207
540
**103,859**
(95,206)
**(95,206)**
**8,653**
77,631
**86,284**|**2022**
**£**
-
85,605
22| |---|---|---|---|---| |||||**85,627**| |||||(68,458)| |||||**(68,458)**| |||||**17,169**
60,462| |||||**77,631**| 6 of 16 ## Gloucester Vineyard Church Statement of Financial Position As at 31 December 2023 |**Notes**
**Fixed assets**
Tangible assets
14
**Current assets**
15
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within one year**
16
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Restricted income funds
17
Unrestricted income funds
17
**Total funds**|**£**
**2023**
3,489
**3,489**
2,290
81,499
**83,789**
(994)
**82,795**
**86,284**
**86,284**
28,751
57,533
**86,284**|**£**
**2022**
4,363| |---|---|---| |||**4,363**| |||935
73,653| |||**74,588**| |||(1,320)
**73,268**| |||**77,631**| |||**77,631**| |||18,958
58,673| |||**77,631**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Daniel Smith Trustee 18 October 2024 7 of 16 Gloucester Vineyard Church Notes to the Financial Statements For the year ended 31 December 2023 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Charities Act 2011. Gloucester Vineyard Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** The Charity is dependant generous donations it receives. However, on the basis of strong reserves and many committed members giving, the Trustees determine that a going concern basis is appropriate for the preparation of these accounts. ## **Statement of cash flows** The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small. ## **Funds** 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. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: ## **Resources expended** 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. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |Plant and Machinery|20% Reducing balance| |---|---| |Computer Equipment|20% Reducing balance| |Motor Vehicles|20% Reducing balance| ## **Pensions** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 8 of 16 ## Gloucester Vineyard Church Notes to the Financial Statements Continued For the year ended 31 December 2023 ## **2. Income from donations and legacies** |**Restricted funds**
Grants received
**Analysis of grants received**
National Lottery
**ncome from charitable activities**
_Church activities_
Income from charitable
activities
Gift aid received
_CAP debt centre_
Donations received
**nvestment income**
Bank interest receivable|**Unrestricted**
**funds**
**£**
51,303
12,170
**63,473**
-
**63,473**
**Unrestricted**
**funds**
**£**
428
**428**|**Restricted**
**funds**
**£**
2,570
355
**2,925**
27,809
**30,734**
**Restricted**
**funds**
**£**
112
**112**|**2023**
**£**
9,112
**9,112**
**2023**
**£**
9,112
**9,112**
**2023**
**£**
53,873
12,525
**66,398**
27,809
**94,207**
**2023**
**£**
540
**540**|**2022**
**£**
-| |---|---|---|---|---| |||||**-**| |||||-| |||||**-**| |||||**2022**
**£**
51,262
11,424| |||||**62,686**
22,919| |||||**85,605**| |||||**2022**
**£**
22| |||||**22**| ## **3. Income from charitable activities** ## **4. Investment income** 9 of 16 ## Gloucester Vineyard Church Notes to the Financial Statements Continued ## For the year ended 31 December 2023 ## **5. Costs of charitable activities by fund type** |Church activities
CAP debt centre
Support costs
**osts of charitable activities by activity type**
**Support costs**
Church activities
CAP debt centre|**Unrestricted**
**funds**
**£**
62,288
-
2,753
**65,041**
**Activities**
**undertaken**
**directly**
**£**
68,732
23,721
**92,453**|**Restricted**
**funds**
**£**
6,444
23,721
-
**30,165**
**Support**
**costs**
**£**
2,753
-
**2,753**|**2022**
**2023**
**£**
**£**
41,499
68,732
24,414
23,721
2,545
2,753
**68,458**
**95,206**
**2022**
**2023**
**£**
**£**
71,485
44,044
23,721
24,414
**95,206**
**68,458**| |---|---|---|---| ## **6. Costs of charitable activities by activity type** ## **9. Analysis of support costs** |**Church activities**
Finance
Governance costs
**Net income/(expenditure) for the year**
This is stated after charging/(crediting):
Depreciation of owned fixed assets
Accountancy fees
Trustees' remuneration
Trustees' pension contributions
Staff pension contributions|**2023**
**£**
1,598
1,155
**2,753**
**2023**
**£**
874
756
19,688
175
250|**2022**
**£**
1,500
1,045| |---|---|---| |||**2,545**| |||**2022**
**£**
1,091
720
12,150
-
242| ## **10. Net income/(expenditure) for the year** 10 of 16 ## Gloucester Vineyard Church Notes to the Financial Statements Continued For the year ended 31 December 2023 ## **11. Staff costs and emoluments** Total staff costs for the year ended 31 December 2023 were: |Total staff costs for the year ended 31 December 2023 were:|||| |---|---|---|---| |||**2023**|**2022**| |||**£**|**£**| |Salaries and wages||46,183|28,768| |Pension costs||425|242| |||**46,608**|**29,010**| |||**2023**|**2022**| |Employees||0|2| |Senior pastors||0|2| |||**0**|**4**| |**Comparative for the Statement of Financial Activities**|||| ||**Unrestricted**|**Restricted**|**2022**| ||**funds**|**funds**|| ||**£**|**£**|**£**| |**Income and endowments from:**|||| |Charitable activities|61,946|23,659|85,605| |Investments|17|5|22| |**Total**|**61,963**|**23,664**|**85,627**| |**Expenditure on:**|||| |Charitable activities|(43,098)|(25,360)|(68,458)| |**Total**|**(43,098)**|**(25,360)**|**(68,458)**| |**Transfers between funds**|(3,333)|3,333|-| |**Net movement in funds**|**15,532**|**1,637**|**17,169**| |**Reconciliation of funds**|||| |Total funds brought forward|43,141|17,321|60,462| |**Total funds carried forward**|**58,673**|**18,958**|**77,631**| ## **13. Comparative for the Statement of Financial Activities** 11 of 16 ## Gloucester Vineyard Church Notes to the Financial Statements Continued ## For the year ended 31 December 2023 ## **14. Tangible fixed assets** |**Cost or valuation**
At 01 January 2023
At 31 December 2023
**Depreciation**
At 01 January 2023
Charge for year
At 31 December 2023
**Net book values**
At 31 December 2023
At 31 December 2022
**Debtors**
**Amounts due within one year:**
Trade debtors
Prepayments and accrued income
Other debtors
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Plant and**
**Machinery**
**£**
4,071
**4,071**
2,489
317
**2,806**
**1,265**
**1,582**|**Motor**
**Vehicles**
**£**
4,000
**4,000**
1,952
410
**2,362**
**1,638**
**2,048**|**Computer**
**Equipment**
**£**
2,151
**2,151**
1,418
147
**1,565**
**586**
**733**
**2023**
**£**
1,205
1,085
-
**2,290**
**2023**
**£**
994
**994**|**Total**
**£**
10,222| |---|---|---|---|---| |||||**10,222**| |||||5,859
874| |||||**6,733**| |||||**3,489**| |||||**4,363**| |||||**2022**
**£**
226
553
156| |||||**935**| |||||**2022**
**£**
1,320| |||||**1,320**| ## **15. Debtors** ## **16. Creditors: amounts falling due within one year** ## **17. Movement in funds** ## **Unrestricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Transfers**|**Balance at**| |---|---|---|---|---|---| ||**01/01/2023**|**resources**|**resources**||**31/12/2023**| ||**£**|**£**|**£**|**£**|**£**| |_General_|||||| |General|58,673|63,901|(65,041)|-|57,533| ||**58,673**|**63,901**|**(65,041)**|**-**|**57,533**| 12 of 16 ## Gloucester Vineyard Church Notes to the Financial Statements Continued For the year ended 31 December 2023 ## **Unrestricted Funds - Previous year** ||**Balance at**|**Incoming**|**Outgoing**|**Transfers**|**Balance at**| |---|---|---|---|---|---| ||**01/01/2022**|**resources**|**resources**||**31/12/2022**| ||**£**|**£**|**£**|**£**|**£**| |_General_|||||| |General|43,141|61,963|(43,098)|(3,333)|58,673| ||**43,141**|**61,963**|**(43,098)**|**(3,333)**|**58,673**| ## **Purpose of unrestricted Funds** ## General General funds are for the day to day operations for the church. ## **Restricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Transfers**|**Balance at**| |---|---|---|---|---|---| ||**01/01/2023**|**resources**|**resources**||**31/12/2023**| ||**£**|**£**|**£**|**£**|**£**| |Christians Against|18,958|27,921|(23,721)|-|23,158| |Poverty|||||| |Growbaby|-|9,128|(4,928)|-|4,200| |The Big Give|-|2,909|(1,516)|-|1,393| ||**18,958**|**39,958**|**(30,165)**|**-**|**28,751**| |**Restricted Funds - Previous year**|||||| ||**Balance at**|**Incoming**|**Outgoing**|**Transfers**|**Balance at**| ||**01/01/2022**|**resources**|**resources**||**31/12/2022**| ||**£**|**£**|**£**|**£**|**£**| |Christians Against|17,321|22,924|(24,414)|3,127|18,958| |Poverty|||||| |Unity Community|-|740|(946)|206|-| ||**17,321**|**23,664**|**(25,360)**|**3,333**|**18,958**| 13 of 16 Gloucester Vineyard Church Notes to the Financial Statements Continued For the year ended 31 December 2023 ## **Purpose of restricted funds** Christians Against Poverty This fund relates to the establishing and running of a CAP Debt Centre. ## Unity Community Unity Community is an umbrella term for everything we do, as a church, alongside refugees and asylum seekers in our county. Our desire is to create grace-filled, inclusive spaces where people from all over the world can be valued, loved and welcomed to Gloucestershire. ## The Big Give The Big Give fund is to faciliate charitable giving to World Vision and future projections with refugees and asylum seekers. ## Growbaby Growbaby is a National Lottery community funded project to collect, sort and distribute baby clothes and equipment for free to those in need in Gloucester. ## **18. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General
**Restricted funds**
Christians Against
Poverty
Growbaby
The Big Give
**Previous year**
**Unrestricted funds**
_General_
General
**Restricted funds**
Christians Against
Poverty|**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
3,489
54,044
57,533
-
23,158
23,158
-
4,200
4,200
-
1,393
1,393| |---|---| ||**3,489**
**82,795**
**86,284**| ||**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
4,363
54,310
58,673
-
18,958
18,958| ||**4,363**
**73,268**
**77,631**| 14 of 16 ## Gloucester Vineyard Church Detailed Statement of Financial Activities ## For the year ended 31 December 2023 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Grants receivable
**Charitable activities**
Giving in (Church activities)
Sundry income (Church activities)
Gift aid received (Church activities)
Income from charitable activities (CAP debt
centre)
Donations received (CAP debt centre)
Gift aid received (CAP debt centre)
**Investments**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Staff costs - wages & salaries (Church activities)
Staff costs - pension contributions (Church
activities)
Trustee - wages & salaries (Church activities)
Trustee - pension contributions (Church
activities)
Depreciation - owned assets (Church activities)
Room rent (Church activities)
Insurance (Church activities)
Telephone (Church activities)
Catering and hospitality (Church activities)
Outreach and events (Church activities)
VCUKI tithe (Church activities)
Local giving (Church activities)
Subscriptions (Church activities)
CPD and training (Church activities)
Motor expenses (Church activities)
Sundry expenses (Church activities)
Sunday costs (Church activities)
Bank and processing fees (Church activities)
Staff costs - wages & salaries (CAP debt centre)
Staff costs - pension contributions (CAP debt
centre)
CAP centre costs (CAP debt centre)
CAP running costs (CAP debt centre)|**£**
**2023**
9,112
**9,112**
53,855
18
12,525
17,400
10,141
268
**94,207**
540
**540**
**103,859**
(16,654)
(114)
(19,688)
(175)
(874)
(9,937)
(421)
(96)
(864)
(3,972)
(3,744)
(5,076)
(1,469)
(1,704)
(697)
(608)
(1,912)
(727)
(9,841)
(136)
(10,990)
(2,754)
**(92,453)**|**£**
**2022**
-| |---|---|---| |||**-**
51,257
5
11,424
5,468
16,630
821| |||**85,605**
22| |||**22**| |||**85,627**
(5,617)
(10)
(12,150)
-
(1,091)
(5,304)
(377)
(96)
(620)
(4,018)
(3,105)
(2,160)
(1,046)
(1,839)
(887)
(625)
(1,967)
(587)
(11,001)
(232)
(11,744)
(1,437)| |||**(65,913)**| **SUPPORT COSTS Finance** 15 of 16 This page does not form part of the statutory financial statements ## Gloucester Vineyard Church Detailed Statement of Financial Activities Continued For the year ended 31 December 2023 |Finance (Church activities)
**Governance costs**
Independent Examination (Church activities)
Other office costs (Church activities)
**otal resources expended**
**et Income**|(1,598)
**(1,598)**
(756)
(399)
**(1,155)**
**(95,206)**
**8,653**|(1,500)| |---|---|---| |||**(1,500)**
(720)
(325)| |||**(1,045)**| |||**(68,458)**| |||**17,169**| ## **Total resources expended** ## **Net Income** 16 of 16 This page does not form part of the statutory financial statements