DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 Charity number: 1177868 BRITISH ACADEMY OF CHILDHOOD DISABILITY Report of the Trustees and Unaudited Financial Statements For the year ended 31 August 2020 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Contents Page For the year ended 31 August 2020 |Report of the Trustees|1 to 5| |---|---| |Independent Examiner's Report to the Trustees|6| |Statement of Financial Activities|7| |Statement of Financial Position|8| |Notes to the Financial Statements|9 to 14| |Detailed Statement of Financial Activities|15 to 16| DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY ## Report of the Trustees For the year ended 31 August 2020 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 August 2020. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2015). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** Objectives and charitable activities: Charitable objects: The objects of the CIO are the preservation and protection of good health of children with disability for the public benefit by: - Encouraging and supporting research for the public benefit, publishing and disseminating the useful results thereof, in child development and disability - Working to improve health services for children with disability and their families - Providing a forum for all professional disciplines, agencies and professional bodies involved in childhood disability - Providing technical advice to national government and local authorities and representing child health on committees - Considering matters relating to child development and disability and providing training and teaching for those involved with children with disability ## Charitable activities: BACD provides a forum for those working in childhood disability. We host committee and educational meetings, develop teaching, training and educational materials and support the strategic research group. BACD works closely with voluntary and other organisations, provides technical advice to inform policy and guidance and works to improve the health of children, young people and their families. Public benefit: In exercising their duty, the Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s objectives and aims, and in planning future activities for the year. To achieve this our objectives are to offer support, information and training to our membership, to work constructively and in partnership with other agencies and organisations to continually improve health services for children and young people, and to improve the health of all children by advocating for the needs of the most disadvantaged. ## **Statement on public benefit** In exercising their duty, the Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's objectives and aims, and in planning future activities for the year. To achieve this our objectives are to offer support, information and training to our membership, to work constructively and in partnership with other agencies and organisations to continually improve health services for children and young people, and to improve the health of all children by advocating for the needs of the most disadvantaged. 1 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Report of the Trustees Continued For the year ended 31 August 2020 ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** Summary of activities, achievements and performance Key activities and achievements throughout the year include: ## Communications: - Communication with members continues to be via the quarterly BACD Newsletter, which features articles of relevance to the membership. In 2020 the newsletter moved to being a digital print edition only, which allows for greater content. The spring 2020 edition focused on hearing loss; - Members receive a monthly email bulletin with up to date information and links to important documents and guidance; - In March 2020, BACD held a gala dinner and achievement awards in conjunction with the annual scientific meeting, celebrating the inspirational achievements from colleagues and children and young people. - BACD has two active Twitter accounts @BACD_tweets and @BACD_Trainees Postgraduate Education & Training: - 138 participants attended the Annual Scientific Meeting, Maximising potential for children and young people with sensory impairment held at the Crown Plaza Royal Victoria Hotel in Sheffield on 13 March 2020; - The Trainees Annual Meeting focused on Managing the child with complex neurodisability and took place on 11 December in London. It was aimed at paediatric neurodisability GRID trainees but open to any professional working with disabled children and young people; - Regional meetings held across the country; - Partnership with Sheffield Children’s Hospital to deliver the acclaimed post-graduate diploma in paediatric neurodisability. Individual units were also developed for allied health professionals. BACD members receive a discount on course fees. Policy: - BACD was a stakeholder in the following National Institute for Health and Care Excellence (NICE) consultations: Faltering Growth Quality Standard; Fetal Alcohol Spectrum Disorder Quality Standard; Meningitis (bacterial) and meningococcal septicaemia: recognition, diagnosis and management clinical guideline; Head injury: assessment and early management draft scope; - Input to Down Syndrome Medical Interest Group draft guideline Thyroid Disorder in Children and Young People with Down Syndrome - Consultation on mandatory training and development for staff working with those with a learning disability; - BACD representation at the Learning Disability senate and RCPCH Epilepsy Board Programme - Disabled Children’s Partnership is a major coalition of over 70 organisations, including BACD, campaigning for improved health and social care for disabled children, young people and their families. Research: The Strategic Research Group continues to lead national research into childhood disability: - Following on from the 2015 BACD-James Lind Alliance Priority Setting Partnership Childhood Disability, in autumn 2019 BACD ran two Castang Foundation funded therapy priority setting workshops to identify which therapy interventions (designed and/or delivered by occupational therapists, physiotherapists and speech and language therapists) are priorities for research evaluation. - BACD-RCPCH Polani Award – administered by BACD and funded by the Royal College of Paediatrics & Child Health, the Polani Award supports research and innovation in UK paediatric neurodisability. The 2020 award was awarded in conjunction with the Chartered Society of Physiotherapists Charitable Trust; - Funded by the Castang Foundation, the second cohort of the multi-disciplinary Fellowship programme concluded in March 2020. Membership: - As of 31 August 2020, there were 327 members (down from 394 on 1 September 2019). 2 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY ## Report of the Trustees Continued For the year ended 31 August 2020 - Members are eligible to subscribe at a reduced rate to the journal Developmental Medicine and Child Neurology (DMCN) (published by Wiley). During the year 21 members took advantage of this offer. ## **FINANCIAL REVIEW** The financial performance of the charity is comprehensively disclosed in the attached financial statements. The Trustees have noted the continued reliance on the surplus from the ASM to fund its activities, as well as membership fee income. ## **Reserves** Reserves policy The trustees have examined the Academy’s requirements for free reserves in the light of predominant risks to the Academy - loss of income through reduced membership numbers and reduced numbers at the annual scientific meeting. The Academy is committed to a reserves policy of one year's expenditure to be available. 3 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Report of the Trustees Continued For the year ended 31 August 2020 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Structure, governance and management: The British Academy of Childhood Disability (BACD) was established as a Charitable Incorporated Organisation on 9 April 2018 and is managed by the Board of Trustees. The charity registration number is 1177868. ## Organisational structure and management: BACD is managed by an Executive Committee (EC) which comprises of the Trustees, elected officers with portfolios, and representatives from other related professional organisations. The EC is responsible for the day to day decisions of BACD and works closely with the Administrator to implement the day to day decisions and strategic direction, in particular: - controlling the administration of the charity; - agreeing the strategic aims, objectives and direction of the charity; - ensuring that there is identification of risks and management of those risks; and - ensuring that the income of the charity is applied for the purposes as set out in its governing document ## The day-to-day management of BACD is performed by the Administrator. Trustees and officers with a portfolio are elected via open recruitment from among the membership. A regional coordinator exists for each of the old NHS Regions to represent the views of members throughout the country. This corresponds to the area covered by the Royal College of Paediatric and Child Health (RCPCH) Regional Advisers and Council Representatives. Coordinators are elected for a period of four years by members in the relating region. A job description has been produced for members of the Executive Committee and the Regional Coordinators, which specifies the knowledge, skills and attributes needed by the members. The EC meets three times per year. Also in attendance are the BACD regional representatives, representatives from external organisations representing the multi-disciplinary team working with disabled children and young people, and representatives from disabled children’s charities: - Association of Paediatric Chartered Physiotherapists - British Association for Community Child Health - Contact - Council for Disabled Children - National Network of Parent Carer Forums - Royal College of General Practitioners - Royal College of Nursing - Royal College of Occupational Therapists - Royal College of Paediatrics and Child Health - Royal College of Psychiatrists - Royal College of Speech and Language Therapists Administrative work is centred on the Academy’s registered office at 5 Theobalds Road, London WC1X 8SH, where there was one part-time salaried employee at the end August 2020. The Academy benefits from a great deal of voluntary work by its members in the organisation of meetings, service on committees and panels and many other activities. ## Risk assessment and 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. The Trustees regularly review the risks to which BACD is exposed, particularly activity, operational and financial risks and to ensure procedures and reporting regimes to manage and reduce any identified risks are in place. The prime risk to which BACD is exposed is financial. The COVID-19 pandemic has had an impact on one of the two key income streams, the annual scientific meeting. Whilst BACD was fortunate that the event was able to take place (one week before the first national lockdown) and was not cancelled at a very late stage, the number of registrations was significantly lower than in previous years, resulting in a much lower profit for the event. However, there are several areas where expenditure has been greatly reduced, e.g. committee meetings taking place virtually, a digital only newsletter, which has counteracted the reduction in income. Despite the reduction in income, with the lower expenditure taken into account, the Trustees are satisfied that the current level of reserves is adequate to meet both unforeseen contingencies and the costs of planned activities for the future. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** BRITISH ACADEMY OF CHILDHOOD DISABILITY **Charity registration number** 1177868 **Principal address** 5-11 Theobalds Road 4 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 BRITISH ACADEMY OF CHILDHOOD DISABILITY Report of the Trustees Continued For the year ended 31 August 2020 London WC1X 8SH ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Dr Jill Edith Cadwgan MBCHB PGCERT CLIN ED Dr Ian Male MBBCH MRCP MSC Dr Gabriel Whitlingum Dr Antonia Wolff (Appointed: 12 March 2020) Dr Man Leung Ko (Appointed: 07 August 2020) Dr Hilary Dawn Cass (: 13 March 2020) **Independent examiner** Beach Accountants Limited Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ Approved by the Board of Trustees and signed on its behalf by ............................................................................. 30 April 2021 Dr Gabriel Whitlingum 5 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Independent Examiners Report to the Trustees For the year ended 31 August 2020 I report to the trustees on my examination of the accounts of the charity for the year ended 31 August 2020. ## **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. Beach Accountants Limited Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ 30 April 2021 6 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Statement of Financial Activities For the year ended 31 August 2020 ||**Notes**|**Unrestricted**|**2019**| |---|---|---|---| |||**funds**|| |||**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|2|10,679|561| |Charitable activities|3|37,085|62,399| |Investments|4|46|55| |Other income|5|4,051|1,382| |**Total**||**51,861**|**64,397**| |**Expenditure on:**|||| |Raising funds|6|(24,230)|(27,344)| |Charitable activities|7/8|(29,493)|(34,967)| |**Total**||**(53,723)**|**(62,311)**| |**Net income/expenditure**||**(1,862)**|**2,086**| |**Reconciliation of funds**|||| |Total funds brought forward||77,393|75,307| |**Total funds carried forward**||**75,531**|**77,393**| 7 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Statement of Financial Position As at 31 August 2020 |**Notes**
**Current assets**
14
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within one year**
15
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Unrestricted income funds
16
**Total funds**|**£**
**2020**
1,598
74,563
**76,161**
(630)
**75,531**
**75,531**
**75,531**
75,531
**75,531**|**£**
**2019**
-
79,660| |---|---|---| |||**79,660**| |||(2,267)
**77,393**| |||**77,393**| |||| |||**77,393**| |||77,393| |||**77,393**| The financial statement were approved and authorised for issue by the Board and signed on its behalf by: Dr Gabriel Whitlingum Trustee 30 April 2021 8 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements For the year ended 31 August 2020 ## **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 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. BRITISH ACADEMY OF CHILDHOOD DISABILITY 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 Trustees have assessed the financial viability of the Charity and have concluded that there is no reason why the Charity will not continue operating for at least 12 months following the year ending 31st August 2020 . For this reason the financial accounts have been prepared on a going concern basis. ## **2. Income from donations and legacies** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Unrestricted funds**||| |Donations received|679|561| |Grants received|10,000|-| ||**10,679**|**561**| |**come from charitable activities**||| ||**2020**|**2019**| ||**£**|**£**| |**Unrestricted funds**||| |_Memberships_||| |Income from charitable activities|15,431|18,135| |_DMCN_||| |DMCN Subscriptions|1,659|2,298| |_ASM_||| |Income from charitable activities|19,772|26,769| |_Castang fellows_||| |Castang Fellows and Diploma|223|15,197| ||**37,085**|**62,399**| ## **3. Income from charitable activities** 9 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements Continued For the year ended 31 August 2020 ## **4. Investment income** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Unrestricted funds**||| |Bank interest receivable|46|55| ||**46**|**55**| |**5. Other income**||| ||**2020**|**2019**| ||**£**|**£**| |**Unrestricted funds**||| |CDT Database|200|200| |Trainees|3,801|1,182| |Advertising|50|-| ||**4,051**|**1,382**| |**6. Expenditure on generating donations and legacies**||| ||**2020**|**2019**| ||**£**|**£**| |**Unrestricted funds**||| |Gifts in kind|2,336|1,288| |Support costs|21,894|26,056| ||**24,230**|**27,344**| |**7. Costs of charitable activities by fund type**||| ||**2020**|**2019**| ||**£**|**£**| |**Unrestricted funds**||| |DMCN|2,179|3,265| |ASM|10,566|15,578| |External|-|78| |Diploma|-|878| |Castang fellows|6,628|6,861| |Exec/RR|6,514|2,939| |SRG|1,730|3,414| |Newsletter|1,876|1,954| ||**29,493**|**34,967**| 10 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements Continued For the year ended 31 August 2020 ## **8. Costs of charitable activities by activity type** |**Activities undertaken directly**
DMCN
ASM
External
Diploma
Castang fellows
Exec/RR
SRG
Newsletter|**2019**
**2020**
**£**
**£**
2,179
3,265
10,566
15,578
-
78
-
878
6,628
6,861
6,514
2,939
1,730
3,414
1,876
1,954
**29,493**
**34,967**| |---|---| ## **9. Analysis of support costs** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Voluntary Income**||| |Management|16,700|16,376| |IT|1,332|3,678| |Governance costs|3,861|6,003| ||**21,893**|**26,057**| ## **10. Net income/(expenditure) for the year** This is stated after charging/(crediting): Accountancy fees Operating lease charges - other |**2020**|**2019**| |---|---| |**£**|**£**| |630|600| |3,152|4,570| 11 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements Continued For the year ended 31 August 2020 ## **11. Staff costs and emoluments** Total staff costs for the year ended 31 August 2020 were: |Total staff costs for the year ended 31 August 2020 were:||| |---|---|---| |Salaries and wages|**2020**
**£**
16,700
**16,700**|**2019**
**£**
16,376| |||**16,376**| ## **12. Trustee remuneration and related party transactions** The following amounts per paid to Trustees in the Year: Dr G Whitlinghum: Travel costs £287 Dr I Male: Fellow Ship Research costs £100 Dr A Wolff: Travel costs £105 Dr M Ko Travel costs £76 All transactions have been vouched to appropriate documentation and amounts owing to and from related parties has been shown to be managed correctly by the independent reviewer. ## **13. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. ## **14. Debtors** |**Amounts due within one year:**
Other debtors|**2020**
**2019**
**£**
**£**
1,598
-
**1,598**
**-**| |---|---| 12 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements Continued For the year ended 31 August 2020 ## **15. Creditors: amounts falling due within one year** |Other creditors
Accruals and deferred income|**2020**
**£**
-
630
**630**|**2019**
**£**
1,667
600| |---|---|---| |||**2,267**| ## **16. Movement in funds** ## **Unrestricted Funds** |_General_
General
**Unrestricted Funds - Previous year**
_General_
General|**Balance at**
**01/09/2019**
**£**
77,393
**77,393**
**Balance at**
**01/09/2018**
**£**
75,307
**75,307**|**Incoming**
**resources**
**£**
51,861
**51,861**
**Incoming**
**resources**
**£**
64,397
**64,397**|**Outgoing**
**resources**
**£**
(53,723)
**(53,723)**
**Outgoing**
**resources**
**£**
(62,311)
**(62,311)**|**Balance at**
**31/08/2020**
**£**
75,531| |---|---|---|---|---| |||||**75,531**| |||||**Balance at**
**31/08/2019**
**£**
77,393| |||||**77,393**| ## **17. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
75,531
75,531| |---|---| ||**75,531**
**75,531**| 13 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 BRITISH ACADEMY OF CHILDHOOD DISABILITY Notes to the Financial Statements Continued For the year ended 31 August 2020 |**Previous year**
**Unrestricted funds**
_General_
General|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
77,393
77,393| |---|---| ||**77,393**
**77,393**| 14 of 16 DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Detailed Statement of Financial Activities For the year ended 31 August 2020 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Grants receivable
**Charitable activities**
Income from charitable activities (Memberships)
Income from charitable activities (DMCN)
Income from charitable activities (ASM)
Income from charitable activities (Castang fellows)
**Investments**
Bank interest receivable
**Other income**
CDT Database
Trainees
Advertising
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Gifts in kind
**Charitable activities**
Cost of direct charitable activity (DMCN)
Cost of direct charitable activity (ASM)
Cost of direct charitable activity (External)
Cost of direct charitable activity (Diploma)
Cost of direct charitable activity (Castang fellows)
Cost of direct charitable activity (Exec/RR)
Cost of direct charitable activity (SRG)
Cost of direct charitable activity (Newsletter)
**SUPPORT COSTS**
**Management**
Management
**IT**
IT
**Governance costs**
Governance costs|**£**
**2020**
679
10,000
**10,679**
15,431
1,659
19,772
223
**37,085**
46
**46**
200
3,801
50
**4,051**
**51,861**
(2,336)
**(2,336)**
(2,179)
(10,566)
-
-
(6,628)
(6,514)
(1,730)
(1,876)
**(29,493)**
(16,700)
**(16,700)**
(1,332)
**(1,332)**
(3,862)|**£**
**2019**
561
-| |---|---|---| |||**561**
18,135
2,298
26,769
15,197| |||**62,399**
55| |||**55**
200
1,182
-| |||**1,382**| |||**64,397**
(1,288)| |||**(1,288)**
(3,265)
(15,578)
(78)
(878)
(6,861)
(2,939)
(3,414)
(1,954)| |||**(34,967)**
(16,376)| |||**(16,376)**
(3,678)| |||**(3,678)**
(6,002)| 15 of 16 This page does not form part of the statutory financial statements DocuSign Envelope ID: 4E7D03BB-D40D-4BC4-BB16-A3C87C62C546 ## BRITISH ACADEMY OF CHILDHOOD DISABILITY Detailed Statement of Financial Activities Continued For the year ended 31 August 2020 |**Total resources expended**
**Net Expenditure**|**(3,862)**
**(53,723)**
**(1,862)**|**(6,002)**| |---|---|---| |||**(62,311)**| |||**2,086**| 16 of 16 This page does not form part of the statutory financial statements