**REGISTERED CHARITY NUMBER: 1187603**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024**
**FOR LIFTING LIMITS CIO**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London
N3 1DH
**LIFTING LIMITS CIO**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 12|
|**Detailed Statement of Financial Activities**|13 to 14|
**LIFTING LIMITS CIO**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 January 2024. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Lifting Limits registered as a Charitable Incorporated Organisation after converting from a Community Interest Company (CIC) on 27th January 2020. The Charity continues in the mission to challenge gender stereotyping and promote gender equality, in and through education.
Lifting Limits works with schools and educators, providing the training and resources they need to:
- make visible, for challenge and discussion, gender stereotyping which may exist in the school environment; and
- equip their pupils to challenge stereotyping and inequalities wherever they may encounter them
With evidence showing that the limiting effects of stereotyping on children's aspirations, choices, behaviour and sense of 'self' start young, with gendered attitudes ingrained by the age of 10, our focus is at the early years and primary school stages of education.
Our vision is a world in which every child is free to make their own path in life, unconstrained by the limiting effects of gender stereotyping.
## **Significant activities**
Lifting Limits supports schools through our whole school, evidence-based programme. Key components of our programme include:
- Training for a designated Gender Champion in each school, supporting them to develop a ‘gender lens’ and equipping them to train colleagues and to embed our programme in their schools;
- In-school training to be delivered by Gender Champions, to raise awareness of the effects of gender stereotyping on children's lives and encourage colleagues to reflect on their own role, as well as where stereotypes might be perpetuated in their school;
- A 'gender audit' to identify areas of good practice and areas for development;
- An extensive package of resources to prompt reflection and discussion, including: 80+ lesson plans across 12 subject areas; resources tailored to the Early Years; workshops and resources for parents and carers; assemblies; discussion cards; book lists and more;
- Ongoing support, from Lifting Limits and through peer support.
Each lesson is designed to meet dual goals: covering the specific learning objectives as set out in the National Curriculum and also specific gender equality learning objectives.
These activities help schools to:
- examine the part they play in perpetuating or challenging gender stereotypes;
- equip their pupils to demand a more gender-equal world;
- better represent women and their achievements throughout the curriculum;
- ensure representation of all genders in non-stereotypical roles;
- engage parents and carers in these conversations; and
- increase staff confidence in addressing sexism and stereotyping with pupils, colleagues and parents
## **Public Interest**
The Trustees have had regard to the guidance issued by the Charity Commission concerning public benefit. They are satisfied that the information given in this report, particularly regarding the activities undertaken when read in conjunction with the objectives of the charity set out above, demonstrates that the requirements to identify public benefit have been met.
Page 1
**LIFTING LIMITS CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Lifting Limits successfully tested its whole school programme in a pilot in five schools in the London Borough of Camden, throughout the school year 2018-19. Independent evaluation demonstrated success of the pilot in achieving its intended outcomes in relation to impact on school staff, pupils and the school as a whole and the pilot evaluation report is available at www.liftinglimits.org.uk/pilot-evaluation. The report made a number of recommendations to those bodies involved in the content, quality and delivery of children's education and we continue working to progress these recommendations.
## **Scaling**
Throughout the school year 2022-23, we worked with fifteen schools and two multi-academy trusts to test our scalable model, to ensure that our programme can replicate at scale the impact demonstrated in our 2019 pilot. This work started in June 2022 with two days of training delivered to a Gender Champion in each participating school, with Gender Champions then leading training and embedding the programme in their schools. The scaling pilot showed positive impact, raising awareness of and confidence in challenging gender stereotyping in participating schools. Findings will be published, showing examples of impact reported by schools in children’s oracy outcomes, in more gender-mixed playtimes and in children envisaging a broader range of roles and possibilities, for themselves and others.
## **Early Years**
In 2022 we ran a pilot with Early Years settings, drawing on findings from our 2019 pilot demonstrating great potential for change in the earliest stages of education. Working with the London Borough of Camden’s early years team and three settings in the borough, we adapted and tested our programme for use with children in pre-school early years settings. The pilot demonstrated positive impact in the participating settings, with our training considered particularly valuable in supporting settings to look closely at their learning environments. The pilot prompted settings to introduce more varied books, re-think role play and dressing up clothes, examine the curriculum and lead to more positive relationships between children. As one Early Years Practitioner said following our training, “All children should be able to play with whatever they like, free from judgement.” Findings are available here.
## **Beyond Gender Stereotypes**
Lifting Limits is the UK implementation partner for The Global Boyhood Initiative, a project to support children and the adults in their lives in advancing healthier concepts of boyhood. The pilot phase of the project ran until December 2022, with encouraging findings that children were starting to understand the role of gender norms in their lives and to explore equitable, inclusive and non-violent attitudes and behaviours. A second phase, running for 3 years from October 2023, is underway. The first year of this project has seen development of a curriculum for Key Stage 2 under the name Beyond Gender Stereotypes, development of online training modules for school staff, development of a monitoring and evaluation framework and recruitment of 10 schools (5 intervention and 5 control schools) to test the curriculum and training. The intervention schools are running the training and curriculum throughout Autumn term 2024.
## **Strategic objective for next financial year**
Lifting Limits’ key strategic objectives for our next financial year are to:
- Roll out our scalable model;
- Further develop and roll out our Early Years model;
- Build on the first year of our Schools Network, to retain schools’ engagement after their first year of our programme;
- Progress the GBI project;
- Continue to stake a claim for gender equality work across the education landscape and on the public policy agenda.
## **FINANCIAL REVIEW**
## **Financial position**
Income in the period relating to grants, donations and contributions totalled £201,092, with the majority being from Restricted Fund grants designated for specific areas of our work totalling £187,877. This is an increase on the prior year due to the funding received for the next phase of the GBI project. The majority of income is applied to the learning programme activities with the main costs incurred being project related salaries, consultancy and contractor costs. Total expenditure during the year was £129,662 which is a decrease on the prior year but expected as negotiations and planning commenced in the second half of the year for the next phase of the GBI project.
Page 2
**LIFTING LIMITS CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024**
## **Reserves policy**
Total funds retained at the end of the year comprised of £172,033 (2023: £71,007) of restricted funds and £8,308 (2023: £37,904) of unrestricted funds.
Lifting Limit’s Reserves Policy (adopted by trustees in March 2022) provides for the Charity to hold in reserve a sum equivalent to between 3 to 6 months core operating costs. This threshold allows the charity to steer through any period of financial instability whilst maintaining core functions. The trustees review and agree the level of reserves regularly and are satisfied that Lifting Limits is maintaining an appropriate level of liquidity whilst ensuring that excessive funds are not accumulated.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a constitution and constitutes a Charitable Incorporated Organisation (CIO).
## **Recruitment and appointment of new trustees**
The Trustees consider recruitment of new Trustees as the need arises, having regard to the skills, knowledge and experience needed for the effective administration of the Charity. Any Trustee vacancies identified will be published and applications sought from suitably qualified candidates. Lifting Limits is an equal opportunities employer and welcomes applications from all suitably qualified persons. Trustees are appointed (for a term of four years) by resolution of the Trustees.
## **Organisational structure**
The board of trustees administers the charity. They have appointed a CEO that oversees the day-to-day affairs.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1187603
## **Principal address**
c/o Melinek Fine LLP First Floor, Winston House 349 Regents Park Road London N3 1DH
## **Trustees**
M E Yule A A Van Woudenberg F M Miller Smith L Roberts F N K Moore (appointed 23.06.23)
## **Independent Examiner**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 18[th] November 2024 and signed on its behalf by:
.................................................................... F M Miller Smith - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFTING LIMITS CIO**
## **Independent examiner's report to the trustees of Lifting Limits CIO**
I report to the charity trustees on my examination of the accounts of Lifting Limits CIO (the Trust) for the year ended 31 January 2024.
## **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**
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 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.
D Fine FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Date: 19 November 2024
Page 4
**LIFTING LIMITS CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024**
|Unrestricted
Restricted
fund
funds
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**19,921**
**167,956**
**Charitable activities**
Charitable actvities
**13,215**
**-**
**Total**
**33,136**
**167,956**
**EXPENDITURE ON**
Raising funds
2
**17,700**
**-**
**Charitable activities**
3
Charitable actvities
**54,138**
**57,824**
**Total**
**71,838**
**57,824**
**NET INCOME/(EXPENDITURE)**
**(38,702)**
**110,132**
**Transfers between funds**
10
**9,106**
**(9,106) **
**Net movement in funds**
**(29,596)**
**101,026**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**37,904**
**71,007**
**TOTAL FUNDS CARRIED FORWARD**
**8,308**
**172,033**|**2024**
**Total**
**funds**
**£**
**187,877**
**13,215**
**201,092**
**17,700**
**111,962**
**129,662**
**71,430**
**-**
**71,430**
**108,911**
**180,341**|2023
Total
funds
£
178,348
713
179,061
11,425
157,506
168,931
10,130
-
10,130
98,781
108,911|
|---|---|---|
The notes form part of these financial statements
Page 5
## **LIFTING LIMITS CIO**
## **BALANCE SHEET**
## **31 JANUARY 2024**
|Unrestricted
Restricted
fund
funds
Notes
£
£
**CURRENT ASSETS**
Debtors
8
**52**
**-**
Cash at bank
**10,580**
**195,108**
**10,632**
**195,108**
**CREDITORS**
Amounts falling due within one year
9
**(2,324)**
**(23,075)**
**NET CURRENT ASSETS**
**8,308**
**172,033**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**8,308**
**172,033**
**NET ASSETS**
**8,308**
**172,033**
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2024**
**Total**
**funds**
**£**
**52**
**205,688**
**205,740**
**(25,399)**
**180,341**
**180,341**
**180,341**
**8,308**
**172,033**
**180,341**|2023
Total
funds
£
11,046
104,794
115,840
(6,929)
108,911
108,911
108,911
37,904
71,007
108,911|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18[th] November 2024 and were signed on its behalf by:
............................................. F M Miller Smith - Trustee
The notes form part of these financial statements
Page 6
**LIFTING LIMITS CIO**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024**
## **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 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **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.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **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.
## **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.
## **Financial instruments**
The charity only has financial assets and financial 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.
continued...
Page 7
## **LIFTING LIMITS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **2. RAISING FUNDS**
## **Raising donations and legacies**
|**Raising donations and legacies**|||
|---|---|---|
|Funding consultancy
**3.**
**CHARITABLE ACTIVITIES COSTS**
Charitable actvities
**4.**
**SUPPORT COSTS**
Finance
£
Charitable actvities
**11**|Direct
Costs
£
**103,264**
Other
£
**4,445**||
||||
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.
## **6. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Senior Management (CEO)
Education Management|**2024**
**£**
**55,987**
**865**
**1,311**
**58,163**
**2024**
**1**
**2**
**3**|2023
£
70,512
1,376
1,627|
|---|---|---|
|||73,515|
|||2023
1
2
3|
No employees received emoluments in excess of £60,000.
continued...
Page 8
## **LIFTING LIMITS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **7. COMPARATIVES TO 31 JANUARY 2023 FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,184
**Charitable activities**
Charitable actvities
713
**Total**
18,897
**EXPENDITURE ON**
Raising funds
11,425
**Charitable activities**
Charitable actvities
53,689
**Total**
65,114
**NET INCOME/(EXPENDITURE)**
(46,217)
**Transfers between funds**
29,016
**Net movement in funds**
(17,201)
**RECONCILIATION OF FUNDS**
Total funds brought forward
55,105
**TOTAL FUNDS CARRIED FORWARD**
37,904
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued income
Prepayments||Restricted
funds
£
160,164
-
160,164
-
103,817
103,817
56,347
(29,016)
27,331
43,676
71,007
**2024**
**£**
**-**
**52**
**52**|Total
funds
£
178,348
713
179,061
11,425
157,506
168,931
10,130
-
10,130
98,781
108,911
2023
£
10,966
80
11,046|
|---|---|---|---|
|||||
continued...
Page 9
**LIFTING LIMITS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
|**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1.2.23
£
**Unrestricted funds**
General fund
**37,904**
**Restricted funds**
Head of Education
**60,041**
Global Boyhood Initiative
**10,966**
**71,007**
**TOTAL FUNDS**
**108,911**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Head of Education
Global Boyhood Initiative
**TOTAL FUNDS**
**Comparatives for movement in funds**|Net
movement
in funds
£
**(38,702)**
**(31,506)**
**141,638**
**110,132**
**71,430**
Incoming
resources
£
**33,136**
**-**
**167,956**
**167,956**
**201,092**||
|---|---|---|
||||
||||
||||
||||
|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At 1.2.22|in funds|funds|31.1.23|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|55,105|(46,217)|29,016|37,904|
|**Restricted funds**|||||
|Head of Education|43,676|16,365|-|60,041|
|Global Boyhood Initiative|-|39,982|(29,016)|10,966|
||43,676|56,347|(29,016)|71,007|
|**TOTAL FUNDS**|98,781|10,130|-|108,911|
continued...
Page 10
**LIFTING LIMITS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Head of Education
Global Boyhood Initiative
**TOTAL FUNDS**|Incoming
resources
£
18,897
31,200
128,964
160,164
179,061|Resources
Movement
expended
in funds
£
£
(65,114)
(46,217)
(14,835)
16,365
(88,982)
39,982
(103,817)
56,347
(168,931)
10,130|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Head of Education
Global Boyhood Initiative
**TOTAL FUNDS**|At 1.2.22
£
55,105
43,676
-
43,676
98,781|Net
movement
in funds
£
(84,919)
(15,141)
181,620
166,479
81,560|Transfers
between
funds
£
38,122
1,860
(39,982)
(38,122)
-|At
31.1.24
£
8,308
30,395
141,638
172,033
180,341|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Head of Education
Global Boyhood Initiative
**TOTAL FUNDS**|Incoming
resources
£
52,033
31,198
296,920
328,118
380,151|Resources
Movement
expended
in funds
£
£
(136,952)
(84,919)
(46,339)
(15,141)
(115,300)
181,620
(161,639)
166,479
(298,593)
81,560|
|---|---|---|
continued...
Page 11
**LIFTING LIMITS CIO**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 January 2024.
Page 12
## **LIFTING LIMITS CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024**
|2024
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**11,367**
**-**
**11,367**
Gift aid
**2,500**
**-**
**2,500**
Grants
**6,054**
**-**
**6,054**
Grants - restricted
**-**
**167,956**
**167,956**
**19,921**
**167,956**
**187,877**
**Charitable activities**
School training and programmes
**12,265**
**-**
**12,265**
Workshops
**950**
**-**
**950**
Other earned income
**-**
**-**
**-**
**13,215**
**-**
**13,215**
**Total incoming resources**
**33,136**
**167,956**
**201,092**
**EXPENDITURE**
**Raising donations and legacies**
Funding consultancy
**17,700**
**-**
**17,700**
**Charitable activities**
Wages
**25,634**
**30,353**
**55,987**
Social security
**435**
**430**
**865**
Pensions
**588**
**723**
**1,311**
Consultancy & Contractors
**10,900**
**26,318**
**37,218**
Workshops & teaching
**582**
**-**
**582**
Training
**422**
**-**
**422**
Teaching
**85**
**-**
**85**
Curriculum freelancer
**900**
**-**
**900**
Memberships
**-**
**-**
**-**
Scaling project costs
**5,770**
**-**
**5,770**
Travel & subsistence
**124**
**-**
**124**
**45,440**
**57,824**
**103,264**
**Support costs**
**Finance**
Foreign Exchange gain/loss
**11**
**-**
**11**
**Other**
Insurance
**452**
**-**
**452**
IT & Marketing Costs
**1,611**
**-**
**1,611**
Misc office expenses
**1,414**
**-**
**1,414**
Continued…|2023
Total
funds
£
2,183
-
16,000
160,165
178,348
200
250
263
713
179,061
11,425
70,512
1,376
1,627
42,440
-
581
1,600
17,800
883
10,516
-
147,335
(1,227)
503
1,036
621|
|---|---|
This page does not form part of the statutory financial statements
Page 13
## **LIFTING LIMITS CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024**
|Unrestricted
Restricted
funds
funds
£
£
**Other (continued)**
Recruitment
**63**
**-**
Meeting costs
**874**
**-**
Resources & Training Material
**-**
**-**
Travel and subsistence
**31**
**-**
**4,445**
**-**
**Governance costs**
Accountancy fees
**4,242**
**-**
Independent examiners fees
**-**
**-**
**4,242**
**-**
Total resources expended
**71,838**
**57,824**
**Net income**
**(38,702) **
**110,132**|2024
Total
funds
£
**63**
**874**
**-**
**31**
**4,445**
**4,242**
**-**
**4,242**
**129,662**
**71,430**|2023
Total
funds
£
51
439
427
2,375
5,452
4,452
1,494
5,946
168,931
10,130|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14