**REGISTERED CHARITY NUMBER: 1176572**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **FOR**
## **SURFERS NOT STREET CHILDREN UK**
Xeinadin Sidings House Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU
**SURFERS NOT STREET CHILDREN UK**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
||**Page**||
|---|---|---|
|**Reference and Administrative Details**|1||
|**Report of the Trustees**|2 to|5|
|**Independent Examiner's Report**|6||
|**Statement of Financial Activities**|7||
|**Balance Sheet**|8||
|**Notes to the Financial Statements**|9 to|15|
|**Detailed Statement of Financial Activities**|16||
**SURFERS NOT STREET CHILDREN UK**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025**
|**TRUSTEES**|A Brookes|
|---|---|
||J D Meadows|
||J Walker|
||J Radcliffe|
|**PRINCIPAL ADDRESS**|Hills Court Cottage|
||North Down Road|
||Braunton|
||EX33 2EE|
|**REGISTERED CHARITY**|1176572|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|Xeinadin|
||Sidings House|
||Sidings Court|
||Lakeside|
||Doncaster|
||South Yorkshire|
||DN4 5NU|
|**BANKERS**|CAF Bank Limited|
||25 Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
Page 1
**SURFERS NOT STREET CHILDREN UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicableto charities preparing their accounts in accordance with the FinancialReporting Standard applicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Charity was established as a Charitable Incorporated Organisation on the 8 January 2018. The principal purposes of the Charity are as follows:
1. To change the way that society perceives and treats street children globally (advocacy).
2. To support our partners in identifyingand empowering street childrenin South Africa and Mozambique, enabling them to leave street life and reintegrate back into society successfully.
3. To work with our partners to ensure that the children and youth that they work with are developed in order to be independent and sustainable in their adult lives.
4. To support our partners in their identification of children at risk of becoming street children or at risk of streetinvolvement and to divert them, offering them new hope.
It achieves this by advocating from the UK on the global phenomena of street children, supporting partner organisations in South Africa and Mozambique through fundraising and the provision of grants, and through capacity building and other infrastructural support to local partners.
## **Public benefit**
The trustees confirm that they have complied with the duty in the section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit. The purpose of the Charity is enshrined in its objects as outlined above. The trustees ensure that this is carried out for the public benefit.
Page 2
**SURFERS NOT STREET CHILDREN UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **ACHIEVEMENTS AND PERFORMANCE Charitable activities**
## **1. Education, Child Protection and Youth Development**
## **Sustained School Attendance - 100% for a Second Year**
For the second consecutive year, 100% of the childrenin the two programmes (South Africa and Mozambique) remained in school. This is a major achievement, reflecting the commitment of our social workers and staff who mentor children through the complex social, financial and emotional barriers that typically lead to dropout.
## **Expanding Futures Through Education Support**
- With UK Support they introduced targeted tutoring for older students preparing for key academic exams.
- Several young people achieved excellent results and have progressed into further education, skills training and early employment pathways.
- Parents and caregivers reported increased confidence that their children can access future opportunities beyond the limitations of poverty.
Daily Mentorship & Life-Skills
The routine-based model-combining school support, social work, wellness sessions, and daily surfing -continues to provide safety, belonging and consistent guidance for children navigating difficult home environments.
## **2. Facilities & Infrastructure Strengthening**
## **Surfhouse Development**
The Surfhouse remains the heart of the programme, offering nutrition, tutoring space, mentorship, creativity and joy. This year we supported:
- Essential maintenance and safety upgrades.
- A new multi-purpose training room used for life-skills workshops, team debriefs, yoga sessions and peer learning.
- the computer lab and homework centre, serving over 60 children daily, making it one of the most heavily used
- educational resources in the area.
## **Nutrition and Basic Needs**
With rising food costs placing pressure on families, SNSC UK supported:
- A full-year nutrition programme, providing daily healthy meals to 100+ children.
- Materials and support to ensure children could remain engaged in school and in the programme.
## **3. Surfing, Sport and Youth Leadership**
Our unique model combines mentorship with surfing as a vehicle for growth, resilience, discipline and belonging.
## **Unprecedented National Representation**
2025 marked our biggest competitive year in the organisation's history:
- 15 programme surfers qualifiedfor the South African Junior Nationals in Jeffreys Bay - the largest group we have ever supported.
- Melo (16) was selected to represent South Africa at the ISA World Junior Surfing Championships in Peru.
- Staff member Sisonke Ndumndum was appointed Team Manager for the South African national team, a milestone both for him personally and for the programme.
These achievements demonstrate the success of our coaching pathway, confidence-buildingwork, and commitment to inclusion within the sport.
## **Daily Surf Programme**
We continued to support:
- Boards, wetsuits, and leashes for structured daily surf sessions.
- Water safety and lifesaving training, which again ranked as one of the programme's strongest features in our evaluation.
- A safe space for children living in high-risk environments to develop physical health, discipline and emotional resilience
Page 3
**SURFERS NOT STREET CHILDREN UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **4. 2025 Programme Evaluation**
In early 2025, we conducted a comprehensive evaluation of our partner programmes, using KIDSCREEN-52 and International Surf Therapy Organisation (ISTO) best-practice methods and other art therapy methodologies
## **Key Outcomes**
- Above-average scores in physical well-being, psychological health, confidence, peer support, and school engagement.
- Low bullying rates and high levels of peer belonging.
- Parents consistently reported feeling "supported and reassured" by the role of the programmes in their children's lives.
## Challenges Identified
- High social work demand, reflecting poverty, family instability and community pressures.
- Rising costs in nutrition and school support, requiring sustained fundraising.
## **Contextual Well-being**
Children scored below average in family stability and financial resources, a reminder of the structural inequalities the programme exists to address.
Overall, the evaluation reaffirmed the programme's effectiveness in stabilising children's lives, promoting emotional resilience, and supporting long-term educational engagement.
5. Community Integration, Skills Development & Sustainability
This year, we supported:
- Post-school transition planning, with a focus on college applications, vocational training and job placements.
- Updated leadership pathways for senior staff in South Africa and Mozambique.
- Lifeguard retraining, ensuring all staff working with children maintain high safety and professional standards.
SNSC UK continues to support a sustainable model that empowers local staff and creates long-term change within communities.
## **6. Advocacy, Partnerships and Public Engagement**
We also:
- Continued UK-based advocacy to raise awareness of the challenges faced by children growing up in poverty in coastal communities.
- Strengthened engagement with supporters and partners through communication, events and online storytelling.-
- Expanded our donor network and deepened relationships to meet rising operational costs.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for specificpurposes or otherwise committed. The Trustees consider that, given the nature of the work of the CIO, it is prudent to have 3 months running costs as the targeted amount of reserves which is £20,000. We ended the financial year with £54,511 (2024: £28,378) free reserves.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity was registered 8th January 2018.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 4
**SURFERS NOT STREET CHILDREN UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
Jan 25, 2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
## Joe Walker
Joe Walker (Jan 25, 2026 22:18:59 GMT)..................................................................... J Walker - Trustee
Page 5
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SURFERS NOT STREET CHILDREN UK**
## **Independent examiner's report to the trustees of Surfers Not Street Children UK**
I report to the charity trustees on my examination of the accounts of Surfers Not Street Children UK (the Trust) for the year ended 31 March 2025.
## **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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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 applicablerequirements 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.
Claire Docherty Claire Docherty (Jan 26, 2026 11:43:16 GMT)
Claire Docherty FCCA
Xeinadin Sidings House Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU
Date: .............................................Jan 26, 2026
Page 6
## **SURFERS NOT STREET CHILDREN UK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**252,581**
**Charitable activities**
Retail sales
**150**
Investment income
3
**1,450**
**Total**
**254,181**
**EXPENDITURE ON**
**Charitable activities**
Advocacy
**228,395**
Retail sales
**-**
**Total**
**228,395**
**NET INCOME/(EXPENDITURE)**
**25,786**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**29,765**
**TOTAL FUNDS CARRIED FORWARD**
**55,551**|Restricted
fund
£
**87,861**
**-**
**-**
**87,861**
**89,684**
**-**
**89,684**
**(1,823)**
**89,684**
**87,861**|**2025**
**Total**
**funds**
**£**
**340,442**
**150**
**1,450**
**342,042**
**318,079**
**-**
**318,079**
**23,963**
**119,449**
**143,412**|2024
Total
funds
£
360,745
256
60|
|---|---|---|---|
||||361,061|
||||279,317
2,098|
||||281,415|
||||79,646
39,803|
||||119,449|
The notes form part of these financial statements
Page 7
## **SURFERS NOT STREET CHILDREN UK**
## **BALANCE SHEET 31 MARCH 2025**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
8
**1,040**
**CURRENT ASSETS**
Debtors
9
**9,452**
Cash at bank
**49,699**
**59,151**
**CREDITORS**
Amounts falling due within one year
10
**(4,640)**
**NET CURRENT ASSETS**
**54,511**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**55,551**
**NET ASSETS**
**55,551**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**87,861**
**87,861**
**-**
**87,861**
**87,861**
**87,861**|**2025**
**Total**
**funds**
**£**
**1,040**
**9,452**
**137,560**
**147,012**
**(4,640)**
**142,372**
**143,412**
**143,412**
**55,551**
**87,861**
**143,412**|2024
Total
funds
£
1,387
100,475
22,741
123,216
(5,154)
118,062
119,449
119,449
29,765
89,684
119,449|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: Jan 25, 2026
## Joe Walker
Joe Walker (Jan 25, 2026 22:18:59 GMT)
............................................. J Walker - Trustee
The notes form part of these financial statements
Page 8
**SURFERS NOT STREET CHILDREN UK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **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 applicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The FinancialReporting Standard applicablein the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Incoming resources**
All income is recognised in the Statement of FinancialActivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grants receivable, funding the general activities of the charity, are included in the period in which they are receivable.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Governance costs**
Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment
- 25% on cost
## **Taxation**
The charity is exempt from corporation tax on income and gains falling within Part 11 of the Corporation Tax Act 2010, to the extent that these are applied to its charitable purposes.
## **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.
continued...
Page 9
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Pension costs and other post-retirement benefits**
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.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations
Gift aid
Grants
**INVESTMENT INCOME**
Deposit account interest
**GRANTS PAYABLE**
Advocacy|**2025**
**£**
**246,762**
**5,819**
**87,861**
**340,442**
**2025**
**£**
**1,450**
**2025**
**£**
**170,730**|2024
£
264,624
6,437
89,684
360,745
2024
£
60
2024
£
148,520|
|**Grants issued**
**2025**|**2024**||
|**£**|**£**||
|South Africa|||
|Mozambique
142,730|120,520||
|28,000|28,000||
||||
||||
||||
||||
||||
## **3. INVESTMENT INCOME**
## **4. GRANTS PAYABLE**
continued...
Page 10
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **6. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities|**2025**
**£**
**65,000**
**2,715**
**4,403**
**72,118**
**2025**
**1**|2024
£
62,745
(1,335)
4,403
65,813
2024
1|
|---|---|---|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|£60,001 - £70,000
**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
268,823
**Charitable activities**
Retail sales
256
Investment income
60
**Total**
269,139
**EXPENDITURE ON**
**Charitable activities**
Advocacy
277,079
Retail sales
2,098
**Total**
279,177
**NET INCOME/(EXPENDITURE)**
(10,038)|**2025**
**1**
Restricted
fund
£
91,922
-
-
91,922
2,238
-
2,238
89,684|2024
1
Total
funds
£
360,745
256
60|
|---|---|---|
|||361,061|
|||279,317
2,098|
|||281,415|
|||79,646|
continued...
Page 11
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
|**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**
Unrestricted
funds
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
39,803
**TOTAL FUNDS CARRIED FORWARD**
29,765
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2024 and 31 March 2025
**DEPRECIATION**
At 1 April 2024
Charge for year
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments|**continued**
Restricted
fund
£
-
89,684
**2025**
**£**
**-**
**1,868**
**7,584**
**9,452**|Total
funds
£
39,803
119,449
Computer
equipment
£
**2,686**
**1,299**
**347**
**1,646**
**1,040**
1,387
2024
£
98,998
1,477
-
100,475|Total
funds
£
39,803|
|---|---|---|---|
||||119,449|
|||||
continued...
Page 12
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Taxation and social security
Other creditors|**2025**
**£**
**2,794**
**1,846**
**4,640**|2024
£
2,842
2,312|
|---|---|---|
|||5,154|
## **11. MOVEMENT IN FUNDS**
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|At 1.4.24
£
**29,765**
**89,684**
**119,449**
Incoming
resources
£
**254,181**
**87,861**
**342,042**
At 1.4.23
£
39,803
-
39,803|Net
movement
At
in funds
31.3.25
£
£
**25,786**
**55,551**
**(1,823)**
**87,861**
**23,963**
**143,412**
Resources
Movement
expended
in funds
£
£
**(228,395)**
**25,786**
**(89,684)**
**(1,823)**
**(318,079)**
**23,963**
Net
movement
At
in funds
31.3.24
£
£
(10,038)
29,765
89,684
89,684
79,646
119,449|
|---|---|---|
continued...
Page 13
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
resources
£
269,139
91,922
361,061|Resources
Movement
expended
in funds
£
£
(279,177)
(10,038)
(2,238)
89,684
(281,415)
79,646|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|At 1.4.23
£
39,803
-
39,803|Net
movement
in funds
£
15,748
87,861
103,609|At
31.3.25
£
55,551
87,861|
|---|---|---|---|
||||143,412|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
resources
£
523,320
179,783
703,103|Resources
Movement
expended
in funds
£
£
(507,572)
15,748
(91,922)
87,861
(599,494)
103,609|
|---|---|---|
continued...
Page 14
**SURFERS NOT STREET CHILDREN UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
Page 15
**SURFERS NOT STREET CHILDREN UK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Investment income**
Deposit account interest
**Charitable activities**
Sale of merchandise
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Telephone
Postage and stationery
Subscriptions
Direct operational travel cost
Motor
Foreign exchange
Sundries
Professional fees
Bank charges
Retail purchases
Computer equipment
Grants to institutions
**Support costs**
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income**|2025
£
**246,762**
**5,819**
**87,861**
**340,442**
**1,450**
**150**
**342,042**
**65,000**
**2,715**
**4,403**
**985**
**21**
**3,263**
**50,089**
**4,699**
**5,337**
**2,082**
**5,046**
**1,724**
**-**
**347**
**170,730**
**316,441**
**1,638**
**318,079**
**23,963**|2024
£
264,624
6,437
89,684
360,745
60
256
361,061
62,745
(1,335)
4,403
1,545
13
2,479
45,335
966
-
6,431
5,124
1,255
2,098
324
148,520
279,903
1,512
281,415
79,646|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16