Charity Registration No: 1196595 Woodside Gospel Hall Trust Report of the trustees and unaudited financial statements for the year ended 5th April 2025
Woodside Gospel Hall Trust Contents Pages Reference and adminislralive details Report of the trustees Independent examine¢s report Slalement of financial activities Balance sheet 9.-13. Notes lo the financial slalemenls
Woodslde Gospel Hall Trust Reference and admlnistrative d8tsil$ for the ear ended 5th A ril 2025 Charlty name: Woodside Gospel Hall Trust Registered charity number., 1196595 Trustees: Mr Michael B Glass Mr Bernard Sellars (Chairl Mr Barry Wade Treasurer: Mi Bernard Sellars PrinGipal address. 10 Nicholson Road Healing Grimsby North East Lincolnshire DN417RX Independent examlner: Julian Remmington 4cast 1 Cenlrus Mead Lane Herllord SG13 7GX Page 1
Woodside Gospel Hall Tmst Report of the trustees for the year ended 5th A ril 2025 The Irusle8s prèsènt thèir roport along with the financial slalemenls of the Charity for the yeai ended 5th April 2025. The linanaal slatemeiils have been prepared in aGcordance with the accouTrling policies set out on pages 9 10 10 and ccmply wilh Ihe Trust Deed and applicable law. structure. goveTnance and management Governing document The Woodslde Gospel Hall Trust is an unincorporaled trust constiluled by Deed of Trust dated 12th Augusl 2014. The trust was registered wilh Charity Cc>mmission for England and Wales on 16th Novembèr 2021 under Charity Registration Number. 1198595. Recrultment and appointment of new trustees The names of the Trustèes who have setved during the year and Sin the year end are sel out on page 1. None ol the Trustees, nor any person connoclcd with Ihom, ieceived any retnunerallon expenses from the Charily in the year end8d 5 April 202512024.. £nil). The Trust operates four Gospel halls and Ttuslee8 are Chosen from among tho regular congiggalion of the halls. New Trustees are notninaled by the existing Trustees or by tlie Lonyrey4ation and musl b8 appointed by unanirnou5 resolution of Ihe congregation. They are selected according lo their skills and experience and are expeclecf lo use both in furthering the objÈcts of thè Charity. Checks are made lo ensure the Truslees, eligibility to act and incoming Trustees are made aware of their re8ponsibililies by the existing Trustee8. who ensure that new Ttuslees read Ihs Trust D9ed and relevant Charily Commission guidanc&. Wid8r network The Trustees maintain informal links wlh similaT charlll8s wlh a view lo pooling èxpèriènc8 considered useful in pursuing Ihc oblects of the Charity. The charlly also maintains particular links wrÉh Haven Gospel Hall Trust with whlch il shares members of its congregation. Rlsk management The Trustèès have identified and reviewed the major risks lo which the charity is oxposed and confirm that they have established systems or pio¢edures lo manage and mlligale those iisks. Objectives and actlvities Objectives and alms The trust has the following charitable purposes.. Tho charitable purposes ol the Charity 8rÉ thè xdv8ncèment ol thè Christian r81igion for the public benelil. including by the carrying on of the service c>f God in accordance with the Old and New Teslamenls of Ihé Holy Bible as followed by those Christians forming part of the woild-wide fellowshlp known as the Plymouth Brethren Chrisllan Church Ithe"Brèthren"l and any other charitable purposes connected with Brethren. The core doclrine of the Brelhrell and proper praolices iri lurtherance of certain aspects of doclrine are summarised Sn Iwo schedules lo the Trust D$ed. Page 2
Woodside Gospel Hall Trust Report ofthe trustees for the ear ended 5th April 2025 Publlc benefit The Trustees conlim Ihat they have complied with their duly under section 4 of the Charities Aet 2011 lo have due regard lo the Charity Commission's general guidance lo charities on public benefit. Main activitie5 and achlevem*nts The Trust provides and maintains thre8 Gospèl halls whère religious meetings are held by the local Brelhien community. Details of the origins, teachings and way ol life of the Brethren can be found on th8 websil8- .pLYMOUthbre1hrenchrlSancurch.org and in the schedules lo IhE Trust Deed. Plans for future periods The Trust plans lo continue all the eurrenl activities. Despite the increased cost ol energy, Ihe trustees feel that these increased costs are not skJnificanlly impading on the ability of thè charity lo oonlinue as a going collcern. Mèètlngs Meetings held al the qospel halls include the Lords Supper (COMMUnnI. Gospel preachings, Biblè rèadings and Bible addresses. There is a sliucluied weekly schedule of meetinos and, depending on the particular meeting, between 50 and 100 people normally attend Ihese occasions. The meetings are atlended by the regular congregation and most afe open lo other woperly disposod visitors. The notire board outsidè the Halls welcome visitOTS and displays the litne8 of Gospel preachings, along with a telephone numbei for those seeklng further information or help. Gospel Iraols, which are dislributed by street pr8achÉrs, also display Ihis inlcKmaliDn. Bibles and an èxtÈnsive range of olher Chrislisn reading material are on display al the halls and visitors are free lo help Ihemselves. Spreading the Gospel messagè and the life of a Christlan Thè Gospel halls are a base frotll which the regular congregation and olhers who allend the meelillgs are encouraged lo spread the Chrisllan Gospel. in word and deed. Members of the congregalion partiClP8le in 8 pmgramm? of Stet preathing and Gospel tracts are provided free of charge by the Charity lo such PTeachers lo be handed out lo inleresl8d m8mbers of the publlc. In addition Ic> the street preaching Thg Trust also opera18s a programme ol providing r¢gular packs of nutritious food and gospel literature to homeless and needy persons through local thari11g8 or horneless soclètiès. In carrying out this work, tho congregation considers itself lo be living out Ils taith in practice, as particulady exemplified in the lollowing exlr8Ct from the gehedulÉ lo Ihe Trust Deed on living a Christian lrfe.. We sèek and are encouraged lo live exemplary Ilves In all our relationships wth others in Ihe wider community lincludlng former Brelhrenl, in accordance with the teachings of Holy Sciiplure11 TIM 2..21 We regularly go oth from oui homes lo preach on the slre8ls, lo distributè Chrtslian literature 8nd engage with the wider comrnunlly lincluding former Brelhrenl in order lo present elernal salvallon, available lo all men by faith in Jesus Chris1.12 Tim 4'.21. Page 3
Wood5ide Gospel Hall Trust Report of the trustee5 for the year ended 5th April 2025 Objectives and actlvltlès Sprèadlng the Gospel message and the Ilfe of a Chrlstian ¢ontd. We seek as members of the public lo lead Christian lives as husbands and wives, parents. childrÈn, employers. employees and neighbours. (Col 3'.22-25, Col 4.'11. The presetvalion and protection ol the family unil is fundamgnlal and children are piized as a blessing from God. IPsalm 127'.3-51. The elderty are valued members of thè community. f(>r whom both thelr famity and the wider community are 8XPèCtèd to care. Holy Scrlplure commands us lo b8 good neighbours to others. and deal with all other people (including forrnei BrÈthrenl openly. honestly and fairfy and conslslent with Ihese principles, we ghould oive our lime, talents and money lo assist those in need in the wider community, in so far as reasonable given our abilities and our available resources. {M8lt 7.12. Matt 22.'39, Eph 4.,261. Funding Funding is sought through gifts frorn the congregation and Gift Aid 18 claimed on eliglble donations. Funding is somelimos received from olher charitable tru818 wlh complementary objeclives. Financial revi Flnancla5 posilion In the yèar endgd 5th April 2024 the Trust had a small deficit of incoming rèsources over resources expended. The delicil was due lo accrued expenses not yel being funded by Haven Gospel Hall Trust. Tolal voluntary incotne received this year was £35,474 Compared to £86,601 in the previous year. The trust boirowod funds frorn two individuals, interèst free, in order lo purchase 8 ntsw property. All funds held wer8 unreslrict8d fijnds. Reserves poll¢y The Trustees hav8 considered the level of reserves they wish lo ielaln, appropriate to the charilqs needs. based otT it8 Six8 and the level of its financial Gommilments. The Trusl has no employees and ils regular tsutgoings are minimal. Accordingly, Ihe Trustees have decided 10 8dopl a policy of maintaining no signifi'cant fe5erves. The congrogalion is kept regularfy informed as lo particulaT needs for funds, and other relevant mallers and tho Trustees aim lo ensure that the Charlly will b8 able to contlnue to fulfil ils charitabl9 objectives even if there is a lemparxry shorif311 in income or unexpected expenditure, by raising a funds appeal lo (he congrÈgation. Fe reseNes al the year 8nd wère £ 0 12024.. £01. Any shortl811 wll he mel by donated services income fiom th8 HavÉn Gospel Hall Tru81. Page 4
Woodside Gospel Hall Trust Report of the trustees for the year ended 5th April 2025 staternent of trusta•s' responsibilities The Iruslees are responsible lor preparing the Report of the Trustees and the financial statemènts in accordance wilh 3pplicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practicè). The law applicablè lo eharities in England & Vvalos requires the trustees to prepare financial statemènts for Èach financial year which give a true and lair vW of the slate of affair8 of the charity and of the incorning resources 2nd application of resources ol the charity lor that period. In preparing the80 finan(Bal slalements, the trustees are iequired lo., select suitable accounting policies and then appty them conslslenlly". bl observe the methods and prinoiples in the Charities SORP IFRS 1021., make judgements and eslimatss that are reasonable and prudent., dl stale whelher applicable ac.rnunting slandsrds havè been followed, subject lo any material departures di8¢losed and èxplained in the financial statements.. prepare the financia1 slalemellls on the goSng concern basis unless il is inappropriate lo presume Ihal tho ch8rily will eontinue in operation. The truslees are responsible for keeping proper accounting records that disclosè wth rèasonable accuracy al any lime the lindncial position of the charity and enablè them lo ensure that the financial slalemenls cotnply wilh Ihe Charities Act 2011, the Charities {Accounls and Reports) RBgulalions 2008 and the provisions of the trust deed. They are also responsible for safrguarding the assets ol the ¢harfly and hence lor taking reasonable steps for the preventlon and detection of fraud and other irregularities. All transactions have been reviewed and approved by two Iru8lees. On behalf of the board,, Bemaid Sgllars Page 5
Woodside Gospel Hall Trust INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS Report lo the trustees of Woodside Gospel Hall Trust on the financial statements for the year ended 5th April 2025 set out on pages 7 to 13. Respective rÈ5ponsibilities of trustees and examiner The charity's tTLSslees are responsible for the proparalion of thg accounts In accordance with the requirements ol the Charities Act 2011 ('Ihe Act,). I report in respect of my oxaminalion of the Trust's accounts Carried out under seclion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under seclion 145(5){b) of the A¢1. Basis of independent examiner's statemont My examination was carried out in accordance with th8 Gèneral Diree.tion% given by the Charity Commission. An examination includes a review of the accounting records kept by the chaiity and a comparison of the accounts presented with those rgcords. 51 also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations fiom you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that WDukl be required in an audit, and ¢rinsequently no opinion is given 95 lo whether the accounts present a 'true and fair view, and the ieport is timited to Ih05e matters set out in the slalements below. Ind8pend&nt examiner's statement I hav8 completed rny examination. I confirm that no maleTial matters have come to my attention in connectlon with the examination giving me cause lo b81ieve thal in any material respect.. Accounting records were not kept in respect of the Trust as required by section 130 of the Act., or The accounts do not accord with those records., Dr The accounts do not comply with the applicablo requirem6nts concerning the form and content of accounts set out in the Chaiities (Accounts and Reports) Regulations 2008 other than any requirement that the aG¢ounls give a 'true and fair view, which is not a matteT considered as part of an independerkl examination. I hav6 no Concerns and have come acfOSS no other matters in connection with the examinatlon lo whiGh attenllon should be drawn in this ieport in order to enable a proper understanding of the accounts to be reached. Signed: Date.. Name.. Jullan Remmington 4cast, 1 Cenlrus, Mead Lane, Hertford, SG13 7GX Page 6
Wood8ldè G08pèI Hall Trust statement of finanoial 3Gtlvltlg5 Ilncluding Income and Bxpenditure a¢¢¢untl fort oar ondod 6th A rll 2025 Unrèstrlctod Funds R8$trl¢t8d Funds Total Funds 2025 Total Fund5 2Q24 NOTES IrkCDmlng and endowmtrnts from: Dothallon8 and18gacles'. Collections Conlfitwlions IrDm the cowregatlon Gift Aid donaiiDng Olherdonallons Income l£x refunds Donated servKes PaDI1 glvlng Grants from trusts wilh congruenl objectives Legacies received Inv8Sttnent income and irtterest Bank Inleresl Other Incomo Other 35,474 35,474 14,981 51,620 Total 35.475 35.475 66,614 Expondltvre on.. Ch8rltablB actlvitle& Rthnitu of meellng hall8 Wld6rcommunily outreach Cost of donated setvices Giants tg Imsls wllh congruenl objectives Olher£tssls 35.678 35,678 14,119 Governe Cotnpuler and l.T. costs Legal & prole8siong1 cosls Independent Exarninerfs tse Bank Gharges 690 60 690 60 660 60 other Proflll-yLoss on Sa of asseis Tot81 36,428 36.428 14,839 Ngt IDGomèlloxp8nditurel 953 953 51,775 Galnslllossesl on rèvaluatlon of foxed assets Ngt Tnovem8nt In funds 983 953 51,775 Rgconclllation of fund8 Funds broughl loma 687.762 587,7fj2 535,987 Total fvnds carr10d foTh¥ard 586.809 586,809 587,762 The notes on pages 9 lo 13 form pari of IhÈse fina[la1 slalemeTFts. AEI of the above aclvllles are CsSed as con11tIng and Ihere are no galns and1088es other IhBn those Snclud8d abDVe. Page 7
Woodsldtr Gospèl H811 Tru8t Balance sh8ot As at 5th A 112025 2028 2024 NOTES Flxed as5etS Tanglble fL%ed assèis 687,083 687,083 687.083 687,083 Currellt a88eis Debloi5'. Sundry IDan5 PpaymentS & accrued Income Cash ot bank and in hand 882 431 1,024 490 1,314 1,514 Current Ilabllits cditOrS." amounls ftllng due vrilhin on8 year.. Olher ciedilors and short lerm logns AcGtual8 and defer Income 100.000 1,588 100,ODO 835 101,588 100.835 Npt Gurrent assats 100.274 99,321 Total a5Set6 le55 current1lablllUo¥ 586,809 587.762 Creditors.. gtnounls fglling due after me than one ye8r ot asso15 586,809 587.762 Funds Unrostrlcied funds Rtrstrlcled funds 586,809 587,762 Total Funds 588,8Q9 587,762 The un3udiled finanaal slal8tnents were spproved and aulhorlsed for Issue by the Trustees of Woodside Gospel Hal Trusl and signed on Iheii behalf by Bernard Sellars Trustee The noles on page$ 9 to 13 form psrf of ihe5e financial slalèmenls Page 8
Woi)dslde Gospel Hall Trtsst Detalled stat?ment of Ilnanclal a¢tlvltloS Ntstfrs to tho acoouThls forthe eaT endod 5th A rll 2025 1. Ac¢ountlng poliGÈe5 1.1 Basls ol financl&l statemerS The fin8ncial slalernenls h8ve been prepared in accordance vitlh AccoLtnllng and Rep(¥ting by Charitie8.' Second edilion of the Slalemenl of Recommended Practice applicable lo ch9nlies preparing their &ccounl¥ in accordan with the Financlal Rèp(>rtlng Standard applicable in Ihe UK Republic of Ireland IFRS 1021 ISSU In OGlob6r 2019, If Finaiicial Reporiirvj Slztvjard 8pplicable in the Uniled ngdaM and Republ1¢ of IreLqnd IFRS 1021, and UK GerEral Accepled Practe. The funciional currency of Ihe ch8rrty Is slerling 1£). The Tiusl Meets Ihe doflnllioth of a public benefit enllly under FRS 102. Assets and liabllieS are inilia11y reCOgned al hisloric81 c051 or transaction value Un88 011$e slaled in Ihe relevant accoun1g poliGy nolelsl- 1.2 Incomè Donallons ar8 recognlsed In the year in whlth Ihers is enlillemenl and probabilily of reGelpl and the amount can be measured with re8sonable rtlty. IncomÈ is onty dÈfeFred when the charily has lo fulfil conditions before becoming enlilkd lo il or vthere domr has Specified th81 the Income18 lo be expended in a fulure year, Grfi aid is added lo the value of Ihe donatlon to %thi¢h it relales. Don&led services are recoynl$ed as income and expendilure in the financLBI slalemen15 when org3nisalions or indlvlduals offer Ihèlr ser¥4ces and support pro borrf). The value of these donated set¥15 lo wD0dse Gospel Hall Trusl Is consldered lo be equal to nigikel value wNch would be paid seNlce formalty procured. This Indudes servlces paid by other Irugls. Inve$ltnent Income Is accovnled for on a receivable basis. 1,3 Exp8ndlluM Expendllure Is Inckjded on an acctu8ly basis. Liabilities ale ffteognl$Èd as soon 88 Ihere 18 8 leg81 con8trucllve obllg8lion cornmilling the tharity lo pay out resources. Charl1ab ac11$ comprfse those cosis dtreolly altribu1ab lo the fulfllmenl of thè ch8ri18ble objec18. 1.4 Govemanct and support costs StsppDrt ws18 have been allocated between governance costs and olher support cosls. Governance cosls compiise all costs involving aGcounlablllty of Ihe charity and cosls relaled lo slalulory iequlrerTrenis. Gavernance and support costs &re alloGaled lo charNable activilles on Ihe basis of capg(yly used. 1.5 Talble fixed assets and dÈpreclaUon T81b7e fixÈd assets Icosllng more than £1501 are slated el co81 less depreciauon. Freehold lar*d Is nol d8predated. Daprecialion is wovided 81 rales c8lculBled lo wriie off lh8 cosk lÉss esllmaled residusl value, of each a8sel 118 expected usehil Ilfe as fdlows.. Bullding r8fuibiyhmenls Equipment 20 R8duclng balance methcrtl 20 Rellucing bal8nce Tnelh(Kl 1.6 Taxation The Trusl is a regislered charity and 15 nol liab lu Unlled KSngdom Income or corporation tax on ch8rilabk gGlivilie3. provided c02 fallg wllthn IhÈ chariiabl8 exempbons and is spenl on Gharil8ble purposes. 1.7 F¥txfs The general unreslricled fund is free for the Truslees lo use for any purposes In futlherance ol tM Injsl'g charltsble obleGi8. Restricted funds arfse from donallons to the Iiusl whiGh are Trade for a 6pEclfic purpose. Restrkled tund$ c8n only be Used forlhe purp03e wtiich funds ware glven. 1.8 Preparallon of consolid8ted fManGiql slaletnenls The ChatY does rK)I have a trading subsldiery 2nd ther& is no r8qulrem8nl lo piep8re consolidaled gccounls. 1.9 Goirbg Gon(Ern The Twslees considerthal Ih&re are no material unrtaInl aboul the tharity's ebililyto conllnue as a gohg concern. P8ge 9
Wood$ldb Gospel Hall Tru¥t Detailed statemènt of flnanclal octlvlUB5 Noto8 to the a¢¢ounts for tho ar ended 5th A rll 2025 1. A¢¢ountlng ptsllclès centd. 1.10 SignifiGanl eBllmales and judgemenls The Iruslees do nol ttonslder that there are 3ny sources of eslknalion Un(1nty al the reporbry dale Ih8t h8ve a %nIfIGant risk of causlng a maieri81 adIgIme lo lh8 Carrying amounts of asseis and118billties Wilh Ihe next repoFting periixs. 2. Trustees, romuneratlon and Bxpans88 No Truslee8 le1¥e dny Trmuntrrali( or other bÈnÈfiis from an employment with Ihe charfty and no Trustees were relmbuwsed IDr expense812024.. None). 3. Wagas and salarlB8 There ale no employees12024.' none). 4. Donated seNI¢gs Incom& 2025 2024 Haven Gospel Hall Trust 35.474 14.9BI 35,474 14.981 xpandlturs 2025 2024 2025 2024 5. Grants from afflliated trust5 HBven G05pel Hall Twsl 51,620 51.620 othor charltable eetlng rooms 6. RèsDur¢88 8xpended Runnlng ol tneetlng hall$ 2025 2024 Repalr& and mainlengncs ol plant and buildwgs Grounds maintenancè MEw12nance- R&cord#ig equiprnenl Lvjhl and h8al Councll 13K Walp.r raley Telepe & bro8db&nrt HI halllsl 26,377 540 26,377 540 5,754 1,955 5,689 4,058 395 547 1,580 395 547 1,53Q 470 558 1.307 Cle8Dlng Legal and professional Sundry Depreall0[ FreehDld property DepreD4aliorF Equpmenl 600 600 35,678 35,fj78 14,119 Page 10
WDodsldg Go8poI Hall Tru8t Dota119d st8t&rnent of flnan¢lal activltl&s Notes to the accounts for th ar onded Sth A rll 2026 7. Tanglblo flxod assets FreGhold Propèrty. and Refurb15hm8llt rotal Cost At 61h April 2024 Disposals Addlllons 687,083 687,083 Al 5th Aprll 2025 687.083 687,083 D&pre¢iatio At 6th April 2024 Di8PO8a1s Charge forthe year Al 51h Aprll 2025 Nel Bookvalue Al 51h Aprll 2025 687,083 887,083 At8lh April 2024 687,083 687,083 Lend Re9Ssty Ime are", HS25246, HS333357, HS387222 and HS89433 8. Analysls of nEta¥sols botween f¥rtd8 UnTe5tri¢ttrd fLÈnd8 R8strlctgd luDd5 Total funds 8.1 CUIrlar T8ngiN8 fixed $s5ets curre.nl &£sets 687,063 1,314 101,568 687.083 1.314 101,588 Long Icnn liabilities Totsl fund8 586.809 586,809 UnrestrlGted fulld5 Rostrlcted funds Total funds 8.2 Priory88r Tangible flxtsd assets Gurrenl assets 687,083 fj,51d 100,835 S87,083 1,514 100,835 Long letrn Ilabllflles Total funds 587,762 587,762 g. Movomont Irs funds 9.1 Cttrffjnlyesr Reallsedl unreali5ed gain and 105$0s 6 Aprll Incomlng 2024 re80urces Res0rCeS expended Bal4ncB at S April 2025 Restrfthd funds Fund Unrestricted lunds 587.762 35.475 38,428 586,B09 Total funds 587,762 35,475 38,428 586,B09 Page11
Wood8ldo Gospel Hall Trust Dotallèd 5taternènt of flnanGt41 actsvlt409 Notes to tho accounts for thè aar onded 5th A ri12025 9. Movoment ID funds contsL 9.2 Pnorye8r Roallsedl unrealised gain ar¢d losses Balanco at G Aprll In¢ort3ing 2023 r950urces Rosotsrces expenderf BaEantt& at 5 Aprll 2024 Restricted fvnd5 Fund Unie51ricled funds 535,987 66,614 14,839 587,762 Total funds 535,987 66,614 14.839 587,762 10. TrarÈ8a¢tlons with relatBd parties Tre were no relaled pariy Iransacllons In Ihe year Ènded 5th April 202512024 £ norEI. 11. Volunts2rs Woodse GD$pel Hall Tmsl rell6s entirety on volunteers lo Gerry out the management, 8dmln181r81ion and goneral mBinleRance work. Thè Trusl has Do pa¥1 s18tf or paid TfusleÈs. Page 12
Woodsodp Gospel Hall Trust Dotallgd statomonl of Ilngn¢lal activltie5 Notes to the a¢oouThts lot thg gar pnded 5th A rll 2025 12 Full cotnpari5Dn of Statèment ef Flnanclal Actlvfties Unrestricted Restrlcted Fur$ Funds Total Funds 2024 lTrcomlng and endowments from,. Donatlon5 and legacies= Coiiblbutioiis ffom the congregation Gift Aid donations Oiher donations Income lax lefur8 Donated Services Payroll gwmg Grants from trusts with congru8nl objecltves LegacEs reteived InvÈstmgnt Income and Interest Bank inleresl oth8r IncomB Other 14,981 14,981 51,620 51,620 13 Total 66,614 66,614 Expèrtdlturè on.. Charltabta aetlvities Rullning of tneeliffj h211s Vvldor communily oulre8ch Cost ol donated serv*cp.s Gr4nl8 lo tru&15 wlh congruent obj&cVeS Olhèr cosls 14,119 14,119 GDv&rnan¢• Computer arKJ I.T. costs Legal & protessional cosls IndepeettI Exsminer's fee Bank ohdtges 660 660 othèr Profill-IILoss on sale Df a55È1s Total 14,839 14,839 Net Incomelloxpondltur81 81,775 51,775 Galnsll1095fr51 OD revaluation of flx8d assets Net movèmènt In funds 51,778 51,775 RoconGlllatlon of ftjnds Total lunds brought foward 535,987 535.987 Totsl fundts carrtèd fotward 587,762 587.762 Page 13