REGISI'ERED COI¥IPAI¥Y NUMBER.. CE•28122 #18nd Th'alos) REGisfERED CHARITY NUMBER.. 1197743 REpoirr OFTHF TRUSTEES AND UTr4AUDITED FINANCIAL sfATEMENTS FOR YEAR ENDED 31 DECEMBER 2025 FOR &4NDWICH BAY BIRD OBSERVATORY TRusr SpuTlino Cannou Clthrtud Certified Accollnlants 424 Nqatg3tE Road rcstWO(NJ r12&SJ
SANDWICH BAY BIRD O&SERVATORY TRUST FOR THE ITrAR F..NDFJ) 31 DECEYBER 2025 Page Report of the Tru5tee5 Independent Examiner's Report State4ll¢llt of Yllwi¢ixl Artivitl¢s aJar4¢e Sheet Notes to the F1Danda1Ststets 8 to 13 Detailed Attivltiex 14 15
SANDWICH BAY BIRD OBSERVATORY TRUST REPORT OF TEE TRUSTEES FOR THE YEAR ETr4DED 31 DECEMBER 2025 Th¢ In¢S PSent th¢ir report the fEt121 sMellts of th¢ clwity for thc srar cnded 31 2024. The tnccS bavc adoptcd thc provisions of Accoontitlg and Kwrting by Clwitics.. statet of R¢¢oJnllxend¢d Prdctice 41plicablE lo chatities pr¢win8 their occounts ill R'Èth the Finamcial R¢pNrtno Srandard wlicablc in tbc UK snd Repth]ie of I[elad (FRS 102) {effective l Januarj. 20191. Objectlves olld alms The objectii'e of the Trust is to iecort study aDd th¢ ¢onservthu olwildbirts tt] other fauna and flora of Sandwicb Bay. KeDL and its surroutiding ar by raising amor¢E$ thr4)ugh the prnkygion of inforMatn and advice. providin8 OPPOrtthJities for thjdy. trai]ung ajjd rrtCaTtl4' supplying ac¢omuMthtion for persons l$hIng ro illcre IheirkrK)wled8e of the th¢ Trtl will ad¢ the educatiou of the public. Fwtbernre, the TDJSt will thise on 1-[elateIE issues to auttb)rities and OEgawsatiOllS Thithitl (be local co1U1ty in ord¢r to thlfil its objectivas. Slgnificallt aelivitstS The TThTr5t keeps daily records of the birds, butterf]ie4 uM)dLS and thagnDflies of the arta Jn wbich it opcrntC3. R¢wrd5 Ilaied by tbe Trust are passed on fo vatious national trf)dies Trspo]1l1e for the different eleDts r¢l81ing to tlord glld fau]]a. The Trust Produ an 2tkThual F¢[rt of I1C records which is distri1ted to all n%mber$ and is availabl¢ to pwc])ase by the pubti¢. The TtU5t Eand aro]nd tbe field eentre, along with some land whith is Tcijtcd This Jad includes several tre rE%Fves and a s¢r2p¢ bird ]ll"des. niosi of the ar¢a king openl}. acce5s17)le io the public. It akn contillues to Tr a ccntre tor the trairtinÈ of bird rgtss witb all ring¢n trai and rewued with the British Trust foi Ornithology. Roolls at the field CeDtre coDtiEkue to be available to to stzv fora visit to the Tknet¢ ar¢ atso mt¢ttng rooms to hllf 3tyd a small shop on si. During the year to the end of DecernE¢r 202), the TrtE5t CaTricd out differ¢llt cvcnts alld oatvitics for btsth adults and childrtn. Thcsc ittclllded taik5, tnp& Ic¢tw. day evEnts thells, a bird lEration day. aEkd a Christn f. The education worked with children duting the yeaE.. actiYiti¢5 iUCTeasiug in the later part of the year - sotnt aciivitics were specific&lly arranged home sdtooled Clllldret¥ with ottw activities arranged io intr0dL¢ develop ch]Ith'S un(krs&11ts8 of thc cnyirontncat and being Outdtyxs filldwg birds, ad other flora alld fauna. We were $uc¢essfyl ill obtaillittg a 3 Itar w to eornillue support our iEpottant thtattoo attivitiffj as w¢ll as obtatnillg a granl enabl us to purch¥se ucw fjllniD2fE fi)r th¢ fi¢M ¢aLtr¢ ]Jas t)Hde a Si£rt conknTrJution to improving the facsliiies awaijabl Flllanelxl posltio Th¢ T¢sults for the financi8E year show an oYeEaAI loss of £13.745. after depre¢Rattott of £15,569. The nei CUrrt wet posilivu bas ]ncreased from £258.813 to £259248. STRucfuRE. GOVETLNANCE LYD MknAGEMENr Goverthg docume]rt The chan.ty is a Charitsblc 0[[>ted OFganiWiOll {CIO) governed by its constitt]tiorÉ and ttgistered with the Cbarily Con)rtiS1O1LThe CIO is an illcorpoTated legal f¢)mi for ebarilics the Chan'tie$ Ad 2011 8Thd is nof a company Page I
SANDWICH BAY BIRD OBSERVA'foRY TRUST IIEPORT OF THE TRUSTE FOR THE YEAR KNDED 31 DECEhlBER 2025 Ortsanisational stnxturt There were 4 eowloyees during 2(125. In &Miiioffj a votUEhteer 8SSi5tant warden joijked us for thE fvll year. alons with a volunt¢er inlcrn wbo joined us in Scpt¢LDber. The waEden rtMDagc5 the daY40-dA activtties of the working i¥ith IILE Chair and trSte¢s %here re557ry. The IAsleeS and tr£ Warde edch month foi Coullcil et. Cotwuittce5 are 2Jso ill plac¢ to managc regular actiwties of the TtrepOlng back to the Covc]I n&ttE each monttL Thcsc co]LtDiÈiees iovolvc Én&stees SOElle otkr &'ohuktcer5. Wc ask mEKnlxtS kn join the committees as they will have valuable skills to supportthe various *ifyrytie& Undcr tkn CoDsEitytlo a third of the tte$ each year nmjst offa (hemselves for re-eledion aL ea¢h G¢twxl McetÈng I'AGM") of th¢ 'frsl "Ilc AGM for th¢ fil]81 year 2025 will take place 14th June 2026. For 2025. ere will be 5 trle¢S wbo will tK¢d to bc re-electtsi at thi5 AGM. Ai the 5atlle tiJn¢. ally tntstces appoittttd since the previous AGLI would needio be lfied atthe June AG REFERENCE AND ADMINISTRATIVE DrfAILS Registered con4> Dwmber CE028122 {Ell8tattd and Waksl Registered Charity number 1197743 Reglstered office S2rtdwich Bay B Ob5ervatoryTn Gwlfurd Rd Sandwich Bay sandCh CT13 9PF Tr•sttts Mr E Hood Mr R TE>1$0 Mr R A Croffjbd.BeokJLS {resiglled 1718fth25) Mrs Aweaviag (ECS1 2919120251 Mr l Hunter Mr P Pook Mrs J P A Jup¢ (r¢sigtLed 31112r2025) Mr R A Rackliffe MrMJWity Mrs E K Draper r l A Scarle Mr G T E Stewart (appointed 11112025) MrG de Ros¢ Mrl Macey Mr R Kittzlcr [a1n¢t4 1014r2025) Ms S HuotEr tndepeTrde4t Eiaminer Spurling CatsnorL 424 MaEgar¢ Road Wcstwo&l Ramsga Ketst cr12 6SJ 1£ Approved byorder of the board of trustees on............_............................... awl OJJ its behalfby. Pa8B2
SANDWICH BAY BIRD OBSRvATORy TRUST REpoirr OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEKBER 2•25 Mr J Hunter- Truste Page 3
INDEPEYDENT EXAhllNER'S REPORT TO THE TRUSTEES OF SAhl)WICH BAY BIRD OBSERVATORY TRUST Jnd¢pend¢nt e12mlner'5 report to the trnstees of Sandwich By Bird Observatorv lrnst I'the Company'l l ttport to th¢ Chlty tnts¢tts ou my examinOll of the accouats of tbe Cou¥allyfoi th¢ year ¢nded 3 E DeccTDbei 2025. Responsibllitt¢s altd bas75 of rert As Ihc charity's tsu5tCC5 of th6 Cojllp8ny (athl alw its directors for the putposes of eott4)2ny you are re4)oDsible for the preparation of the acc4M]nts io a¢Idance1th the wiremthts of the Comp&nÉ&4 Act 2006 ftlK 2006 Acti. HaYstt8 52ti5fied miself that the accouDts of thr Compally are not red to k audittsj uThl¢r Part 16 of thc 2006 .4ct atsd a e]igiTrle for intyndcnt &xaminatior4 1 report in Spect of my eXamition of vour chaTity"'5 account$ 2$ Qtried out under Section 145 (rf the Ch&ities Act 2011 {the ?01 l Acv). In carryiug out mv cxamination I havE followed th¢ DirectioJJs given by the (hrity coED[thi0ll under Se£tioty 145(5) (b) ofthe 2011 ACL IndcpeMdellt lIn1&er'S 5tateJlleMt I have corylet¢d tny examination. I coDfirrn that m8tters bave CODE to my atrelltion iti IVEuKciion the examination ving io belie. countitigrccords wet¢ notkcpt of tbecO))¥)atty rwiired bykniou 386 of the 2006 Act.. or Ihe Accoullls do llol accord thi)5e recnrds.. or the a¢¢ouDts do rtoi ¢o]nply the accouthting reqUirts of Sttuon 396 of th¢ 2006 Act other thaB atty requiFets)enl tIM¢ ts at(x)unts Ye a and fairvtcw which is tt a matier ¢oJJsidtzed as part of an ind¢ttsd¢nt examinati or thc accounts have t b PT¢par¢d ITh accord with the nwhods ar principles of the Ststetnent of Kecollhmended Ptle¢ for2ttountiDg 8t sertiE}E bv chaTtti&% [apJklicahle to Chariti prepartllg rhcir accowus accordance with the Financiat R¢w)ning Stsndard applicable UK and Rcpublic of Irela[ (FRS J0211. I hav¢ no cOll¢S and ha cott acro no other matters ill COllTLecti¢)n with the examttiaiion to which att¢Dtioo thould Ix in this Teport ift order to cnablc a propu crstanding of thc accou to be ieAcbed. Sophke GrdlltFCCA Spor1LE Cawion Cbarttred C¢T¢ified Awountarts 424 MaEJt6 Road Kenl cr12 6SJ oqloil 20Zb Page 4
SAI¥DWICH BAY BIRD OKSERIXATORY TRUST FOR THF. YF.AR EYDED 31 DF££MBER 2024 21125 Unrestii¢ted fvDd 2024 Total fijnds ot¢s INCmE AND gNDOWMENfS FROM Donati0SJs legacies 82,052 85246 Other tradi]ke atti%iti<% Investment iticon 50,891 32,795 45,906 35.447 Totsl 165,738 160,599 EXPENDITURE OY Rai$iug fituds 23J26 16.279 Cbaritable a£ttvities Generdl 156.157 162.164 T•t¥l 1751.483 178.443 r4ET JNCOMEJ(EXPENDrruRE) (13.74S) (11.8441 RECONCILIATION OF FUNDS Totsl fi]nds brought fornryrd 1,02&430 1.037,274 TOTAL FUF4DS CARRIED FORWARD 1.011.685 1.025.430 Pa8e 5
SANDWTCH BAY BIRD 0ERVATORy TRusr 31 DECEMBER21J25 Z025 UDr¢5tst¢d 2024 Totsl FIXED ASSETS TaD8ibLe a$sets 752.437 766,617 CURREKf A&8ETS Swcks Debr$ C2sh ai bank and in hand 3.1116 1Si95 29D.927 3,000 2.213 290,988 3338 295.501 CREDITORS 10 (50:0gJ) (36,6881 NET CURRENT ASSEIS 259248 258,813 TOTAL ASSETS LESS CURRENT LIABILITEES 1,011,685 1.025,430 NET ASSETS 1.(111,605 1,025,430 VestrIcted filljds 1.011,685 1,025,430 TOTAL FUf4DS 1,011,685 1,025.430 The charitahlc company is cntitied to cxernpti from a)1t 477 of the Cotllpanies A¢t 2006 for th¢ year ¢udd 31 Dece]wber 2025. The llmbers have rmjt requwtyj tir ¢ollyDy to obtr1 au&t of its fuwKia] st#tot for the year ended 311)ecember 2025 irlaccordw with Sectioa476 of the Coryallics Act2006. The tru¢5 acknowle¢ their respollsibiiiii¢s for (L) cAsurittg that thc c11[able eonw krtps 0ttg that coojpty with SectioDs 386 and 387 of thc Con)p2iw Act2(KkS aJ¥l prepariDg filjar1aI statements whtch gAve a ard fajr viewof the st of alTai¥s of thr ¢harttable comp2ny as 2t thc <]kl of each fmallcial Jrar and of its surplus or thfi¢J"t for each financial y¢w in acco2D¢e with the rcquirernellts of Sections 394 and 395 which othen¥ise MplY wryth th¢ requir6llJeTLts of th¢ Compatiics Act 2000 rcJatsDg to so applicable the clwiuble wnwatty. (b) tontitiued...
SAhTJIICH BAY BIRD 0ERVATORy TRUST BALANCE SHEft. Continued 31 DEC.EMBF.R 2025 Thcsc financial ststcmcots h&Ye beett prepareAI iti cordw wkth PmViSiODS &ppli¢ablc to ¢hsritsbl¢ ¢onJpalliL bjrct to the srL311 toruparLie5 tegime. Tr rJ]W£1I siat¢WKDts wtre 3ppD)v¢d bv Boanj of TnL%tees and authofi5ed for on Mr l Fluntcr- Tn]s¢ Pasc 7
SANDWICH BAY BIRD OBSERVATORY TRUST
FIOTES TO TEE FINAE4CIAL ST.QrnIENrs
FOR TrTAR ENDED JI DECEMBER 21125
ACCOUNTtNG POLlCtFS
Basis of preparing the fllmlliial statements
The fanCI 5tate]ll¢] of the charitable coll4)atty, whtch is a public brfil ettljty iirHle¥ FRS 102. have been
preplffd io accordaoce the ChaFilie$ SORP (FRS 1021 'A¢¢0 ar¥J R¢portttig by Chariiies: StsEment
of RecolluDBnded Practicc appli¢able to chariti&s preparintt ttr accounts in attordance with the FiDauckal
Reporting Stsndard applicAble the UK and Repub]ic of IRland (FRS I021 (effeaive l 20191,,
rinancial Rcponing Standard 102 Tr Fillall¢ia] Rcrrf)rting standa applicabk ID the UK aDd RcpubiÉc of
Lreland, and the Coryajies Act 20&5. The stat¢nthts haye beak pryated the h[slori1 cost
conTrElltio
ID£orne
A]1 itttoEtt is re¢oEDtsed ID the Statetnthi of FinatKial Activities orte the ctity has cntitlcmcnt to thc fusth, it
is pmbable thatthe Mll Teceivcd aDd the C3n be rKa5LwEdrdÉably.
ExpeudiiurÈ
Liabilities are Trcognis&l a% CXErndTttue as soon as there is a leg21 or constructive obligdtion eomTs]itting tILe
camrity to that exwdithre, It is Prchable that 3 traTLrfts of eCO>IC bellefjts will bc rcquiFed in settlement atkd
tbe amount of the obligxtion ¢aJJ be mea rcliablv. Expenditure is aCcoWE
&4r4DWICH BAY BIRD 0ERVATORy TRLISt 'OTES TO THE FINACLL STATEIIEliTS. tollttllued FOR TIIE TrTAR ENDED 31 DF.CF.hfBER 2025 (YfH£R TRADINGACTIVITILS 2025 2024 &707 11.41Y 22,914 3WO 3,952 4,203 8.597 22.334 3.976 5.493 1,303 Shop incom So]2r pallel itt¢on urs¢s alld ethion Other iticome 511,891 45.SYJ6 vEsTEN[ ComE 2025 2024 Rellts Tr¢eived DepDsit ¥coullt illterest HMRC inrest 25,922 6.459 414 27,14) 8.30? 32,795 35.447 Nrf COmE1(lPEhi1rrLThE1 N¢t 1n¢onwl¢xWaItrlle1 N8 sotrd afier¢Jwgi]Jg/(¢EedÉtiDg): 2025 2024 Depte¢iation- 07 assets 15.569 16.332 TRUSTEES, REhlL74ERATION BEhT" FITS There were no trusm. rejR)U1Trn or other bejkfits for the year ended 31 Detttthcr 2025 nor for th¢ yeRr ended 31 Dember 2024. Truste¢s' expeDS¢$ During t1 year, £3,122.42 (2024.. £KIl} was ]Mbu¢6 to 10 tsILgtxs in resr*rt of out-of-pock& incuzrcd vtholly and excIr%lY in the fithratre of the CbaTitys activjties. The £xpenses Teijllburwl related to ittnis swh as tsavel. prijtsog and statioiieo, cIcaDi AGM and event expenses, acconJmodatiO tr eoA5 ad freshments. Page 9 conunue(L..
SANDWICH BAI. BIRD 0ERVAToRy TRUST POR TifE YEAR ENDED 3] DECEMBER 2825 STAFF COSIS The averdge ronihty employees thThg the as follow 2025 2024 Staff wages Nv exupby¢e5 leIVed ¢ruDlullMts in exce55 or£&):cw. TANGJBI.F. FtXF.D ASSRTS FrtccbDld prOY to Plat and Cotwuter pro Djachioery cquÉpnwt Tota]s COST At l January 2ty25 Additioos 915 109.IMb2 lJ66 lJ89 1,029,798 J,389 At 31 Decenjber 2025 915A I(P).{2 3A43 4755 IW31.187 DEPRECt.4TION At l JalliAt>" 2025 Charge for sear 203N2 8J98 451 760 2(O,181 15,569 037 374 A£ 31 Dcccllts 225 ?1228• 61837 4422 iJii 278.7 NET BOOKVALIIE At 31 Decetrl)er 2025 703.607 46.165 lJ44 752,437 AI 31 DMrkn2024 712,(K15 52,202 1,495 915 766.617 STOCKS 2025 2024 Sio¢ks 3,016 3,000 DEBTORS: AMOUN73 FALLING DLE wrrHIN ON8 YEAR 2025 2024 Trade debÈors VAT 729 705 1.508 Pr4>aymts]ts 15J95 2.213 Pag¢ 10 ¢onJinu¢d...
SANDWJCll BAY BtRD OWRVATt)R? IRILST P40TES TO THE FIN7(LiL STATEI¥IEIYTS- coEttillu¢d FOR TEE YFAR EB41)ED 31 DECEMBER 2•25 CRF.DITORS: AMC)UNTS FALLING Duz N*rrHIN ONE YEAR 2025 2024 Trnde cral(wrs Social WlTfiry atKi other tsx¢s VAT 1.214 1014 46.986 75 3,W3 32,673 50,0 36,688 11. MOVEMENr Iri FttNDS N¢t At 31112r25 At Iiir2£ in Ullrestricrtd fund$ General fijttd 1,025,430 (13,745} 1,1111,685 TOTAL FUNDS I,Q25,430 (13.7451 1,011,685 Net m()Vet in fiu¥Js. iocluckd itt th above att a5 folloms: Resotjrc Movetnent ID fLd5 Unrestricted fwKIs General fits 164738 (179,483) (13,745) TOTAL FLThT)S 165,738 (179.483) (13,7451 CornpArxtfves for fullds Net At 31112124 Al lil.Q4 Uuresrrfj¢t¢d fullds 1.037.274 (11.844} 1.025.430 TOTAL FLTr4TrS 1.037274 111,8441 1,025,430 Pag¢ll
SANDITrICH BAY BIIU) 0RVAToRy TRUST NOIES TO THE FJIIANCLIL STATEIJENfS. colltsnlled FOR THE YEARENDED JI DECEMBER 2025 li. MOVEMETrfT ITr4 Ftrp4DS- continw¢d CollLpaTatiNt n¢t movcDxntinfiDJ4 in¢lThJ¢d abtsvc ¢ as follov7". exp¢t¥dcd ill [LId5 UtsresttA¢ted tsnds (knerai fund 16fi599 (178.4431 111,844} 166599 (178,443) (11.844) A culrcntycar l? nK>llttLq and prioryear 12 eombiLwlpositioll i5as follows.. Net MoNcont Al 3V12r25 At l/lQ4 Ullre5tricted fid$ General tund 1.037274 (2£5891 1.011.685 TOI'AL Tr'LWJ)S 1.037.274 (L4.5891 1,011,685 A CUTF¢rt ar 12 atsIprI( year 12 Jwoths combirtd rKt io hmds. ErKIdeA in the above are as follows.. Rc50ur¢es 0rAt expend in funds Unre51ri¢tJ frnlts (icll¢rnl fillkd 332J37 {357:9261 (25,589) TOTAL FLTNDS 332J37 (i57.9261 (25,589) 12. RILATED PARTY DISCLOSURES Page 12
SANDWqCH BAY BJRD OBSERVATORY TRLST NOTES TO ThE FINANCIAL sT.4TEh1E5. tilled FOR THE YLIR ENDED 31 DECEhlBER 21125 13. Gift aid c]aims Inr 2022. 2023 ard part of 2024 hayc bccD iDclud(xi in th¢ accounts. The Clain weff submitted to HMRC after th¢ vear eod. GÈft 2id rePaynllts for %)22 2023 were Rceiv1 iti M8rth 2026 a] 2024 was r¢1yrd in April 2026. In¢lwEi4g HMRC InteSL DETAILS OF GENERAL FtPlD The General Fund repre5enrs UDre#ricted available io t¢ applÉed at the diseEetion of the twstees The balancc includes both liquid rc5ouT and anMIunTS iuv¢strd ill fjxcd sets fithe of the clwitjls objectivTs. Page 13
&4Y BIRD OBSERVATORY TRr FOR ENDED 31 DECEMBER 2025 20 2024 1Tr4COME AND V4DOWMEN15 Donations Iat¢S DoDaLions Gift aid Refff%hmetJts Gllts 2(X> club incomB Sutveys Talks Huliday trip& Walks ExpIorttS Ringng a¢rivities Sch(x)l and groTy visits 7A37 5,188 376 30A( 2*81 11,2511 5J79 12388 4512 564 1,683 1,490 38,882 6,175 736 20.056 -824 3,24Q 4,565 6_130 2,438 82052 85,246 Other trading adiTrltl(s FTr]ndtaisitkg evetsts Shop itKome %ul)scriptiorL Solar pa1 iDCOEllC CtsuTh¢5 al ¢du¢atio 8.71n IIA17 22914 3&16 3952 4.203 8.597 22.334 3,976 5.493 1,303 50WJi 45.906 InVtment incoll Rellis received Deposil 2¢count HMRC inltre8t 25922 6,459 414 27,145 8,302 32,795 35,447 I'0ts1 incothg resources 165,738 166,599 O¢h¢r troding 2divi(ies Opening stock Shop eXtltse 3,0 31 1.298 832 14.681 (3.0161 2,500 5,323 756 1.607 9,093 (3,0001 Futhlr2tsir&8 fApenditu AGtivity exp¢tltUre Cf05ill8 Stock Z3J26 16279 This page doLs wt fonnpart ()fthE ststuw 6Dwial $tents Page 14
SANDMCH BAY BlliD OBSERVATORY TRusr FOR TFE YEAR EP4DED 31 DECEMBER 2025 2025 2024 Other ir2dLug 4ctivitks Chaiitable Xllvitles Wd8¢S R¢nt and rates lJÈccnc&$ 2nd insurat)te Light and heat Telephone and broadband PrintiD£. postsge & ststiottery Advertl51ti RepaiJ¥ and Conservation vehicl¢ costs Waste collwtion IT 2nd iDternet 69,063 4,437 6,122 11,260 1,027 2,623 2,330 18,002 149 1.120 2,105 140 368 404 1,676 339 975 462 3,943 1,476 2,038 2,466 1,440 1,119 73.772 2,419 6.231 21.733 412 1997 155 22.799 L.013 1.277 1938 339 123 Subsctiptions tA)ne Tr*Drkillg eqlP1 ffDtsI Clealling Refresh[entS Stsff trairrirtg a1 tOE]fereoce5 1,458 669 PPA Volunteers AccOEtlla8tioll HEstorical correctiolls PinBill8 expelldinjre 200 club priz¢s Nort atttibutrable VAT 135.1184 138,879 Support tosts InaDce Bankntranwtiottal f¢&5 HfvIRC lats payumt iutercsl Freehold property InJprovenLentS io PEopeTty" Plalli and KrLtry Cotnputtr eqUipt 1,278 1,233 8.515 6,868 498 451 8,398 6,037 374. 760 17.053 18.843 GoTrernance costs Accountallcy attd bookkew le fres 3.655 3ft5 2.083 2,359 4,020 4,442 179.483 178,443 Net ¢rpe1rc {13:745) (l L.8441 Th15 pagc dors tM)t fonnpart tsf tlr ststutory fiDaBtial sDtemrnts Page 15