Registered company number 10940331 (England and Wales) Registered charity number 1178359
INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
INDEX
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
| This page does not form part of the financial statements | |
| Detailed statement of financial activities | 13 |
INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees of the International Council for Standardization in Haematology (ICSH), the charitable company, who are also directors for the purposes of the Companies Act 2006, present their report with the financial statements of the charitable company for the year ended 31 December 2022.
The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102).
OBJECTIVES AND ACTIVITIES
The charitable company was incorporated on 31 August 2017 and its charitable purposes as set out in the Articles of Association were as follows:
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[a] promoting reliable and reproducible results in laboratory analysis in the field of diagnostic haematology;
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[b] promoting and facilitating scientific, medical and technical research;
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[c] promoting the improvement of laboratory methods and instruments for haematological analyses, and
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[d] stimulating and coordinating scientific work towards the development and improvement of international standardization materials and guidelines.
The ICSH coordinates working groups of experts to examine laboratory methods and instruments for haematological analyses, to deliberate on issues of standardization and to stimulate and coordinate scientific work as necessary towards the development of international standardization materials and guidelines. ICSH conducts two events each year whereby current and future projects are discussed with its community members.
ICSH makes two Scholarship awards each year. The Carol Briggs-Smalley Scholarship Award was set-up in 2015 to honour the significant contributions Carol Briggs made to the discipline of laboratory haematology. Each year ICSH seeks applications from Medical Technologists and Medical Laboratory Scientists on laboratory haematology projects particularly those that are related to standardization in laboratory haematology. Applicants submit a brief research proposal and CV. These are evaluated by a review panel and an amount up to £10,000 (previously €5,000) is allocated to the successful applicant for expenses related to the project. The Sam Machin Scholarship was set up last year and is open to medical graduates who are either undertaking, or have in the past 5 years completed specialist haematology training. The ICSH supports laboratory-based projects that will lead to further standardisation of testing and analysis in haematology. Applicants submit a brief research proposal and CV, which are evaluated by a review panel and an amount up to £10,000 is awarded to the successful applicant for expenses related to the project.
The trustees are aware that they must carry on the charitable company's activities for the public benefit and they must pay due regard to the guidance on public benefit issued by the Charity Commission. They consider that the charitable company's aims and activities are for the public benefit as outlined above.
FINANCIAL REVIEW
During the year, the charitable company had a deficit of £39,036 (2021: Surplus of £28,043) and at the year end, held total funds of £210,255 (2021: £249,291).
ICSH is in a solid financial position with £227,320 in the CAF Bank accounts in the UK.
Reserves policy
Reserves are maintained: to allow investment in suitable laboratory haematology projects; to support scientific research around the globe; to support our participation, stakeholding and collaborative relationships with external International bodies; and to ensure the charitable company has sufficient resources to continue as a going concern and conduct annual General Assembly meetings.
The trustees will review the reserves policy at least annually as part of its planning processes and it is noted that the reserve policy may change with time and circumstances. The amount held in reserves will also be monitored during the course of the year as part of the charitable company’s budgetary processes.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organization was originally founded as a standardizing committee associated with the European Society of Haematology in Lisbon on 31st August 1963. Its Articles of Constitution were later revised in October 2013. Prior to the 2020 accounting period the entity resided in Canada, but as a number of the management board are based in the UK, the organization decided to relocate to the UK for administrative reasons.
Recruitment and appointment of management board members
Members of the management board are trustees of the charity and directors of the charitable company. The methods for appointing board members are set out in our Articles of Association. The Articles provides; there must be at least three members at all times, the first members being the subscribers with subsequent members appointed by the existing management board. Any member who ceases to be a member of the management board automatically ceases to be a member of the charitable company.
Management board
The management board consists of between five and ten persons, and the number shall be determined from time to time by a resolution and simple majority of the management board. A chairperson or other officers can be appointed by the management board which can set out their duties, responsibilities and powers as required.
Membership of the management board is open to practising laboratory haematologists or haematology laboratory scientists but any person who is employed by any company or firm that conducts business of any kind in laboratory haematology with a view to profit is not eligible to serve. Members of the management board shall serve for three years and may be re-appointed for an additional three years by the chair and management board. In exceptional circumstances, the chair and the management board may approve a person to serve for a further period.
Members of the management board are not remunerated for this role and their time is not recognised as income as it cannot be measured reliably. The members are the only volunteers of the charity. In addition, no member of the management board may be appointed to paid employment with the charitable company and no employee may be appointed as a member of the management board.
Members of the management board may be paid reasonable out of pocket expenses incurred in relation to attending meetings of the management board or otherwise performing their duties and carrying out their responsibilities.
Induction and training of new trustees
Prior to appointment, potential board members are informed of their responsibilities as both board members and trustees. New board members are provided with access to all relevant documents and to bring them up to date on the current priorities of the charitable company.
Risk management
The trustees have a duty to identify and review the risks to which the charitable company is exposed, and to ensure appropriate controls are in place to provide reasonable insurance against fraud and error.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10940331 (England and Wales)
Registered Charity number
1178359
Registered office
2 – 4 Packhorse Road Gerrards Cross Buckinghamshire SL9 7QE
Trustees
Professor Wendy Erber Professor Gina Zini Dr Steve Kitchen Dr Ian Mackie Professor Cornelis Harteveld Dr Paul Harrison Richard McCafferty Dr Amrom Obstfeld Dr Jin-Yeong Han Dr Michelle Grant
(Chair) (Trustee, resigned October 2022) (Vice-chair - Haemostasis) (Trustee) (Trustee) (Trustee) (Trustee) (Trustee) (Trustee, appointed February 2022) (Trustee, appointed February 2022)
Independent examiner
Nunn Hayward LLP Chartered Accountants 2-4 Packhorse Road Gerrards Cross Buckinghamshire SL9 7QE
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of International Council for Standardization in Haematology for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue with its activities.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the board of trustees on 13 September 2023 and signed on its behalf by:
Professor Wendy Erber Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2022 as set out on pages 6 to 12.
Responsibilities and basis of report
As the charity trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitable company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
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accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
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the accounts did not accord with the accounting records; or
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- the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
I have no concerns and have come across no 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.
Tom Lacey FCCA Nunn Hayward LLP Chartered Accountants 2-4 Packhorse Road Gerrards Cross Buckinghamshire SL9 7QE
Date
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
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Unrestricted Restricted
General Scholarship Total Total
Fund Fund 2022 2021
Notes £ £ £ £
INCOME AND ENDOWMENTS
Donations 3 - 7,120 7,120 15,491
Charitable activities 3 61,203 - 61,203 57,363
Other income 3 294 - 294 -
TOTAL INCOME 61,497 7,120 68,617 72,854
EXPENDITURE
Charitable activities 4 97,653 10,000 107,653 44,811
TOTAL EXPENDITURE 97,653 10,000 107,653 44,811
TOTAL INCOME/(EXPENDITURE) (36,156) (2,880) (39,036) 28,043
TRANSFERS BETWEEN FUNDS - - - -
NET MOVEMENT IN FUNDS (36,156) (2,880) (39,036) 28,043
Fund balances brought forward 10 216,190 33,101 249,291 221,248
Fund balances carried forward 10 180,034 30,221 210,255 249,291
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY (REGISTERED NUMBER 10940331)
BALANCE SHEET AS AT 31 DECEMBER 2022
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2022 2021
Notes £ £ £ £
CURRENT ASSETS
Cash at bank 227,320 265,732
Debtors 8 5,095 -
232,415 265,732
CREDITORS
Amounts falling due within one year
Creditors and accruals 9 22,160 16,441
NET CURRENT ASSETS 210,255 249,291
NET ASSETS 210,255 249,291
FUNDS
Restricted funds 30,221 33,101
Unrestricted funds 180,034 216,190
TOTAL CHARITY FUNDS 10 210,255 249,291
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022. No members have deposited a notice pursuant to section 476 of the Companies Act 2006 requiring an audit.
The trustees acknowledge their responsibilities for:
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(a) ensuring that the charitable company keeps accounting records that comply with section 386 of the Companies Act 2006 and;
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 section 1A – small entities.
Approved by the board of trustees on 13 September 2023 and signed on its behalf by
Dr Ian Mackie Registered charity number: 1178359
The notes on pages 8 - 12 form part of these financial statements.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 STATUTORY INFORMATION
The International Council for Standardization in Haematology is a charitable company limited by guarantee registered in England and Wales. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered office is given on page 3 of these financial statements. The nature of the charitable company’s operations and principal activities are to advance public health in the field of diagnostic haematology, improving laboratory methods, promoting research, and coordinating the development and standardization of materials and guidelines.
2 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with Charities Act 2011, the Companies Act 2006, 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 (FRS102) and the provisions of FRS 102 Section 1A small entities.
The financial statements are prepared on a going concern basis under the historical cost convention and presented in Sterling (£) which is the functional currency of the charitable company and rounded to the nearest Pound.
Cash flow statement
The charitable company has not included a cash flow statement as it has claimed exemption under FRS 102 Section 1A.
Income
All membership subscriptions, and income from donations and gifts, are included in the Statement of Financial Activities (SoFA) when the charitable company is legally entitled to the resources.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102) as this cannot be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company 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.
Allocation and apportionment of support costs
Support costs are those functions that assist the work of the charitable company but do not directly undertake charitable activities. Support costs include back office costs, personnel and governance costs which support the charitable company's activities. All support costs have been allocated to the charitable company's primary charitable activity of education.
Taxation
The charitable company is exempt from corporation tax on its charitable activities.
Funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The Carol Briggs-Smalley Scholarship fund can only be used for particular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
2 ACCOUNTING POLICIES (CONTINUED)
Debtors receivable and creditors payable within one year
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 in expenditure.
Financial instruments
The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Currency translation
Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken to SOFA in the year they arise.
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
| 3 INCOME 2022 £ £ Donations Carol Briggs-Smalley Scholarship 7,120 7,120 Charitable activities Membership subscriptions 61,203 Royalties - 61,203 Other Income Interest Income 294 294 68,617 4 CHARITABLE ACTIVITIES Direct costs £ Education 67,320 Unrestricted £ Carol Briggs-Smalley Scholarship Award - General Assembly meeting expenses 48,501 Other meeting expenses 4,435 JCTLM donations 4,384 57,320 All of the above awards are given in furtherance of the charity's objects. 5 SUPPORT COSTS Management Governance £ Education 34,762 4,564 2022 £ Independent examiner's fees 2,986 Direct costs of £67,320 shown above are as summarised below: |
£ 15,491 57,363 - - Support costs £ 40,333 Restricted £ 10,000 - - - 10,000 Finance £ 1,007 |
2021 £ 15,491 57,363 - 72,854 Total £ 107,653 Total £ 10,000 48,501 4,435 4,384 67,320 Total £ 40,333 2021 £ 3,220 |
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6 STAFF COSTS
The charitable company had no employees during the current or comparative year.
7 TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES
No trustees received remuneration, fees or other benefits in the current period or comparative year.
No trustees were reimbursed expenses in the current or comparative year.
| 8 Debtors Membership fees receivable |
2022 £ 5,095 |
2021 £ - |
|---|---|---|
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
| 9 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
2022 £ 22,160 22,160 |
2021 £ 16,441 16,441 |
|---|---|---|
Included in accruals and deferred income above are two scholarship awards approved but not yet paid, totalling £20,000. The amounts will be paid on receipt of the bank details from the relevant institutions.
| 10 MOVEMENT IN FUNDS As at 1 September 2021 Incoming resources Resources expended (Deficit) for the year Transfer As at 31 December 2022 Analysis of net assets by funds: Debtors Cash at bank Creditors and accruals As at 31 December 2022 |
Unrestricted Restricted General Scholarship Total £ £ £ 216,190 33,101 249,291 61,497 7,120 68,617 (97,653) (10,000) (107,653) (36,156) (2,880) (39,036) - - - 180,034 30,221 210,255 £ £ £ 5,095 - 5,095 177,099 50,221 227,320 (2,160) (20,000) (22,160) 180,034 30,221 210,255 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
11 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Donations Charitable activities TOTAL INCOME EXPENDITURE Charitable activities TOTAL EXPENDITURE TOTAL INCOME/(EXPENDITURE) TRANSFER BETWEEN FUNDS NET MOVEMENT IN FUNDS Fund balances brought forward Fund balances carried forward |
Unrestricted Restricted General Scholarship Total Fund Fund 2021 £ £ £ - 15,491 15,491 57,363 - 57,363 57,363 15,491 72,854 40,530 4,281 44,811 40,530 4,281 44,811 16,833 11,210 28,043 - - - 16,833 11,210 28,043 199,357 21,891 221,248 216,190 33,101 249,291 |
|---|---|
12 FINANCIAL INSTRUMENTS
Financial assets measured at amortised cost amounted to £232,415 (2021: £265,732).
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INTERNATIONAL COUNCIL FOR STANDARDIZATION IN HAEMATOLOGY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
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2022 2021
£ £
INCOME AND ENDOWMENTS
Carol Briggs-Smalley Scholarship 7,120 15,491
Membership subscriptions 61,203 57,363
Other operating income 294 -
Total incoming resources 68,617 72,854
EXPENDITURE
Direct costs
Scholarship expenses 10,000 14,281
General Assembly meeting expenses 48,501 -
Other meeting expenses 4,435 -
JCTLM donations 4,384 -
67,320 14,281
Management costs
Postage and courier - 89
Internet and website 15,283 9,085
Administration fees 17,549 17,040
Subscriptions 1,020 356
Bad debt 910 -
34,762 26,570
Finance costs
Bank charges 919 387
Currency difference 88 353
1,007 740
Governance costs
Accounting and bookkeeping 1,578 -
Independent examiner's fees 2,986 3,220
4,564 3,220
Total resources expended 107,653 44,811
NET (DEFICIT)/SURPLUS (39,036) 28,043
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This page does not form part of the financial statements
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