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2025-03-31-accounts

Charity Registration No. 1199084

Report of the Trustees & Financial Statements

1[st] April 2024 – 31[st] March 2025

RESOLVE

Contents

Year ended 31 March 2025

Page
Report of the Trustees:
Reference & Administrative details 3
Objectives of the Charity 4
Annual Review 5 - 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 - 19
Cash Flow Statement 20

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Report of the Trustees for the year ended 31 March 2025

The Trustees present their report and financial statements of the Charity for the 12-month accounting period ending 31 March 2025.

Resolve is a Charitable Incorporated Organisation incorporated in August 2022 and governed by Trust Deed

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number: 1199084 Registered office: Resolve House 70 Openshaw Way Letchworth Garden City Hertfordshire SG6 3ER Trustees: Robert Peter Hebden Chairman James Richardson Treasurer Appointed 9.11.2024 Deborah MacCormick Heidi Petersen Appointed 29.7.2024 Clive Marlowe Melissa Pitt Appointed 9.11.2024 Jonathan Anthony Resigned 1.5.2024 & reappointed 11.2.2025 Jaqueline Hime Jeanette Bayford Resigned 7.8.2024 Andrew Campbell Appointed 13.5.2024 & resigned 20.8.24 Independent Examiner Mrs A.J. Cook AJC Accountancy Unit 40 Thrales End Business Centre Thrales End Lane Harpenden Hertfordshire AL5 3NS Principal bankers Unity Trust Bank Plc, 4 Brindley Place Birmingham. B1 2HB Chief Executive Officer Mrs Laura Hyde

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Report of the Trustees for the year ended 31 March 2025

Objectives of the charity

Resolve is dedicated to supporting people affected by alcohol / drug misuse and homelessness, guiding them toward recovery and a life full of possibilities.

Resolve is committed to meeting the needs of vulnerable people, providing a safe space for personal growth and giving practical solutions that lay the foundations for sustainable change.

Main activities

The main activities of the charity fall into 3 main categories:

  1. The delivery of Resolve’s adult, structured, drug & alcohol (“D&A”) treatment day services from 2 locations in Hertfordshire (Letchworth & Welwyn Garden City).

  2. Resolve’s provision for the homeless, known as Restart, is mainly delivered through the operation of 3 houses providing temporary sheltered accommodation

  3. Resolve’s community, not-for-profit café (Sparks), the operation of a food pantry and also of an outlet for the distribution of nearly new children’s clothes and baby items (Sparkles).

Resolve has sought to work with and in partnership with such organisations / agencies as we can in the pursuit of delivering the best possible outcome for our beneficiaries within the wider community.

Annual Review

Drug and Alcohol Treatment Services

Resolve delivered drug and alcohol treatment services from 2 centres in Hertfordshire throughout the year for people who want to reach abstinence.

Treatment includes group therapy, individual key work and professional counselling.

Together, these elements create a holistic, person-centred service, that is proven to give people the best possible chance of lasting recovery. Many clients repeat programmes or engage over a 9–12 month period. Sessions are run both during the day and in the evening. Evening group sessions were introduced as a result of client feedback in October 2023 for those who can’t attend during the day and are now our most popular sessions. One client remarked , “It has been hard to take time out of work for the 11a.m. sessions but, now there is an evening one, it is better.”

The service is not commissioned and is entirely funded by fundraising activities.

In 2024/25 our drug and alcohol treatment service supported 357 people, delivered 445 group therapy sessions (2,112 attendances), provided 295 hours of free counselling and 508 key work sessions.

30.3% of clients come from Welwyn Garden City, 13.8% from Letchworth, 9.4% Hitchin, 8.4% Stevenage.

Our clients reflect the typical profile of people affected by substance misuse: 59% are men and 41% women, with the majority aged between 35 and 54. Smaller numbers of younger adults and older people also seek our help, in line with national treatment patterns.

Analysis from our clients demonstrates significant improvements:

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Report of the Trustees for the year ended 31 March 2025

Annual Review (continued)

Around 61% of our referrals relate to alcohol misuse and 39% to drugs, with some clients facing both issues.

Client testimonials demonstrate the profound impact of our services: "Attending Resolve literally saved my life…. I will be eternally grateful to Resolve. I can look forward to the future with hope and positivity.”

Resolve is a trusted partner within the Hertfordshire Drug and Alcohol treatment network. People can self-refer and we receive referrals from probation, community mental health teams and voluntary organisations. We also collaborate closely with statutory and voluntary organisations through local forums and case reviews to ensure ‘joined-up’ support.

The service is staffed by 4 Key Workers and 1 Service Manager.

Restart

Resolve also runs “Restart”, a homeless and rough sleeper service. Restart provides crisis homeless solutions 365 days of the year including medium term, move-on accommodation for people who are street homeless, sleeping rough, sofa surfing and / or at immediate risk of imminent homelessness.

Restart provides support from first contact through the entire journey onto and after the person settles into their new home / accommodation. This is to ensure people do not return to the streets and break the cycle of homelessness that has occurred in the past.

Restart delivers outreach support on local streets, 14 individual bed spaces in three houses and ongoing ‘navigation’ in support of tenants, ex-tenants and those still homeless.

Restart is funded by Welwyn Hatfield Borough Council alongside rental income from the three Houses of Multiple Occupancy (HMOs).

One ex tenant said “For the first time in my life, I felt supported, understood, and empowered to move forward. Restart's support went beyond housing. They equipped me with the tools and confidence to break free from destructive patterns and rebuild my life. Today, I am no longer homeless, I am free from depression thanks to the counselling and resources they provided, and I am actively pursuing a brighter future, including plans for an apprenticeship in a trade.”

We take both male and female tenants in our houses which is unusual. We find that a mixed house generally is a happier and more stable home than single sex house.

Restart was staffed by 4 Navigators and 1 service Manager.

Sparks Community Café and Hub

‘Sparks’ is a community café hub that brings people together to provide affordable food and clothing essentials for those in need.

The café itself operates on a ‘pay what you can’ basis and incorporates both a ‘Food Pantry’ (which offers basic grocery items in exchange for a small donation) and also ‘Sparkles’ (which offers second hand children’s clothes and other essential baby items). Both the Food Pantry and Sparkles are staffed by volunteers.

Sparks is utterly embedded into the local community and provided unique and important services to those on a low income or experiencing other forms of real hardship.

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Report of the Trustees for the year ended 31 March 2025

Annual Review (continued)

It was therefore with real regret that a decision was taken at the start of the year to close the café and its related services. Despite many cost cutting initiatives and efficiency drives, the size of the losses incurred by the café were beginning to threaten the delivery of Resolve’s core services and hence the difficult decision to close the café was taken.

The cafe closed on 21[st] March 2025. For the majority of the year the café was staffed by 4 people - 1 cook, 2 front of house staff and a manager.

Trustee recognition of Charity Commission Guidance

Trustees have been provided with and have regard to such guidance as is issued by the Charity Commission when carrying out their duties in their role as Trustee.

Trustees ensure that they are aware of the guidance, have taken it into account when deciding to which the guidance is relevant and if they have decided to depart from the guidance, they have a good reason for doing so.

Volunteer contribution

We have had 15 volunteers supporting the work of Resolve during the year. Most of our volunteers have lived experience of substance abuse, homelessness, or mental ill health. Many volunteers are longstanding and give at least 6 hours per week. There are clear benefits to the organisation and to the volunteers in terms of developing skills, enhancing career opportunities, social interaction, and metal wellbeing .

Financial commentary

The original budget for the year to 31[st] March 2025 forecast a deficit of £-49,316 and so the clear objective going into the year was to deliver a positive financial result whilst continuing to deliver high quality services to our core users.

The actual financial result for the year was a surplus of £35,362 which, given the excellent service statistics set out earlier in this report, was very pleasing.

The Trustee Board also continued its work to enhance the internal infrastructure of the organisation to match its recent growth. This included overhauling working practices, procedures and systems to reflect best practice.

The success of the financial operations of the charity is underpinned by high quality financial controls, procedures and management with the Board continuing to review and improve these and related monitoring processes.

Resolve depends on its many stakeholders to succeed and deliver its programmes and services to the community. This is not taken for granted and the Board are very grateful and thankful for the continued contribution of its teams, volunteers, service users, supporters and funders.

Fundraising performance against agreed objectives

The CEO developed a fundraising plan, identifying grant applications, commissioned services, donations (from clients, the community, and corporates) and commercial income as priority areas.

In 2024/25 the total income of the organisation was £883,794 of which 53% related to the Restart homeless project.

74% of the organisation’s total income emanated from direct grants from local authorities and several national and local charitable institutions.

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Report of the Trustees for the year ended 31 March 2025

Financial commentary (continued)

In January 2025 a Fundraising Manager joined Resolve (part funded by the National Lottery) to increase and diversify our funding, focusing on fundraising event income and donations

We submitted 15 successful fundraising applications (total 23) to local and national Trusts and Foundations and Local Authorities.

The names of our principal funders are set out in note 3 to the accounts.

Investment performance against objectives

The charity does not maintain an investment portfolio but does seek to optimise the return on its cash holdings by placing them in short-notice, interest bearing, deposit bank accounts.

Reserves policy

In accordance with guidance given by the Charities Commission for England and the legal obligations of our Trustees, a formal policy on reserves was agreed at our Trustees meeting on 1st February 2023. The policy requires reserves to be maintained at a level that ensures that the organisation’s core activity could continue during a period of unforeseen difficulty.

The level of reserves should be sufficient to cover 3-6 month’s operating costs of the charity in addition to a sum equivalent to the potential redundancy costs of the Charity should it be forced to wind up its operations.

These reserves are to be built up through the accumulation of unrestricted funds secured and / or donations and are to be maintained in a readily realisable form.

The level of reserves and the policy on reserves is to be specifically reviewed annually and presented at the AGM for agreement by the Board

Risk management

The principal risks facing the Charity are common to many UK charities and include:

1. Reputational risk

Being a predominantly grant funded charity any non-compliance of laws and regulations will likely have an immediate impact on funding opportunity. This is particularly the case as many of the addiction service users are vulnerable individuals. Key risks are:

2. Risks effecting continued sustainability

Separate to the above it is noted and recognised by the Board that staff safety is paramount. As a charity working with high-risk individuals and in cases where staff work alone, we recognise the risks taken and the efforts teams take to mitigate against them wherever possible.

The Board regularly review risks and discusses opportunities to mitigate areas of highest risk.

The loss of principal management is also a clear risk, in particular the CEO who is also the primary fundraiser.

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Report of the Trustees for the year ended 31 March 2025

Structure, Management & Governance

Trustee recruitment, appointment and induction

All trustees are volunteers and are not therefore employees of Resolve.

Potential trustees are invited to complete an “offer to serve” application form on which they detail their background and experience together with a summary of their personal and professional skills. Before completing the form, applicants are encouraged to meet with the Chair of Trustees and CEO and to visit some or all Resolve’s sites and meet members of the staff team.

Trustees are elected by serving members of the trustee board. All applicants will be subject to an interview at an appropriately convened Trustee meeting and, assuming that the applicant is happy to proceed, the appointment will be confirmed by vote of the Trustee Board.

As part of their induction programme, new trustees are provided with several documents including the policies and procedures operated by the charity.

Whilst there is no contractual relationship between the trustee and the charity, trustees take up the position in the knowledge that there are legal duties, obligations and an understanding that trustees must always act in the best interest of the charity and comply with all legislation appropriate to their role. This includes duties under the Charities (Protection & Social investment) Act 2016, Trustees Act 2000 any employment, taxation, equality or other domestic or European legislation, regulation or directive.

External training courses are available, and Trustees will be advised of these and are encouraged to attend these providing that they are relevant and will contribute to the performance of the Trustee.

The Role of Trustee is one that bring responsibilities but can be very rewarding for many reasons and on many levels.

Operational structure

Resolve delivers 3 services, each of with a designated Service Manager and with the Operations Manager, appointed to oversee operational service delivery

The charity’s organisational structure and any wider network with which the charity works

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Report of the Trustees for the year ended 31 March 2025

Most of our volunteers have lived experience of substance abuse, homelessness or mental ill health. Many volunteers are longstanding and give at least 6 hours per week.

There are clear benefits to both the organisation and to the volunteers in terms of developing skills, enhancing career opportunities, social interaction, and metal wellbeing . 15 volunteers supported the work of Resolve during the year.

Relationship with related parties

Resolve has several formal and informal partnership arrangements with other charitable organisations as well as local authorities in the pursuit of the charity’s work.

Informal Partnerships with other agencies/ organisations are made at local level for the betterment of the beneficiaries of Resolve’s Charitable Activities.

There were no related third-party transactions in the year.

Signed on behalf of the trustee board:

.......................................................... …………………….………….. Jonah Anthony Deborah MacCormack Co-chair Co-chair

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of Resolve On accounts for the year 31 March 2025 Charity no (if 1199084 ended any) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2025. Responsibilities and basis of As the charity's trustees, you are responsible for the preparation of the accounts in report 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England examiner's and Wales (ICAEW). statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in, any material respect:  the accounting records were not kept in accordance with section 130 of the Charities Act; or  the accounts did not accord with the accounting records; or  the accounts did 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.

Date: 22 January 2026 Signed: Name: Alison Cook Relevant professional FCA (ICAEW) qualification(s) or body (if any): Address: 3 Westfield Avenue Harpenden Herts AL5 4HN

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Financial Statements

Year ended 31st March 2025

STATEMENT OF FINANCIAL ACTIVITIES

Note Year ended 31st March 2025
Income
Fundraising income inc. donations
Bank Interest		 15,239
0
15,239
7,947
12,610
0
12,610
2,082
Total Generated Funds
Charitable activities: Grants
3		 27,849
0
27,849
10,029
327,020
528,774
855,794
884,153
Total Income 354,869
528,774
883,643
894,182
Expenditure
Fundraising
Charitable activities
Governance		 180
0
180
96
318,607
528,774
847,381
889,543
720
0
720
1,080
Total Expenditure
4		 319,507
528,774
848,281
890,719
Net Surplus / (Deficit) 35,362
0
35,362
3,463
Funds brought forward
Net movement in funds		 200,777
0
200,777
197,314
35,362
0
35,362
3,463
Total funds carried forward 236,139
0
236,139
200,777

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Financial Statements

Year ended 31st March 2025

BALANCE SHEET

Note
Tangible Fixed Assets
6
Current Assets
Debtors – Due within 1 year
7
Debtors – Due > 1 year
Cash		 As at 31st March 2025
Total Current Assets 309,533
612,092
921,625
462,822
Creditors: payable within 1 year
Creditors:payable > 1year		 -75,495
-314,296
-389,791
-266,133
0
-297,796
-297,796
0
Total Creditors
8		 -75,495
-612,092
687,587
-266,133
Net Current Assets 234,038
0
234,038
196,689
Total Assets less Liabilities 236,139
0
236,139
200,777
Funds of the charity
Funds brought forward
Net movement in funds		 200,777
0
200,777
197,314
35,362
0
35,362
3,463
Total Funds 236,139
0
236,139
200,777

Approved by behalf of the Board of Trustees 15th December 2025

.......................................................... …………………….………….. Jonah Anthony Deborah MacCormack Co-chair Co-chair

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Financial Statements

Year ended 31st March 2025

NOTES TO THE ACCOUNTS

1. Basis of preparation

These accounts have been prepared on the basis of historic cost

in accordance with “Accounting and Reporting by Charities – Statement of Recommended Practice (FRS102)”, Accounting Standards and with the Charities Act 2011

No changes have been made to accounts for previous years.

2. Summary of significant accounting policies

Recognition of income

Income is included in the Statement of Financial Activities (SoFA) when:

Income with related expenditure

Where income has related expenditure (as with fundraising or contract income) the income and related expenditure are reported gross in the SoFA.

Grants and donations

Grants and donations are included in the SoFA when the charity considers it highly likely that they will have full entitlement to the resources.

Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

Contractual income and performance related grants

This is only included in the SoFA once the related goods or services have been delivered.

Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

Donated services and facilities

These are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

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Financial Statements

Year ended 31st March 2025

Notes (continued)

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g., allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year. They are valued at cost or a reasonable value on receipt. Only computers, laptops and any other assets with a purchase value of £250 or more are to be capitalised. Any purchases of small value assets outside of this policy should be taken as an expense when incurred. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less estimated residual value based on prices prevailing at the balance sheet date, of each asset evenly over 4 years.

Depreciation

Depreciation is provided at the following rates to write off each asset over its useful life: Office Equipment - 25% Straight Line Furniture & Fittings - 25% Straight Line Service Delivery Equipment - 25% Straight Line

Pension

The charity operates a defined contribution pension scheme. The pension charge represents the amounts payable by the charity into the workplace pension scheme in the year.

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Financial Statements

Year ended 31st March 2025

Notes (continued)

Fund Accounting

Unrestricted funds are those which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. Unrestricted funds are those which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes.

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Financial Statements

Year ended 31st March 2025

Notes (continued)

3. Income Year ended 31 March 2025
a. Income from charitable activities by donor:
Welwyn Hatfield Borough Council
Income from Restart re: HMO Accommodation
National Lottery Community Fund
Sparks Community Café Income
Tudor Trust
Henry Smith Charity
HCC Household Support Fund
Albert Gubay Foundation
Garfield Weston
Herts Community Foundation
Letchworth Garden City Heritage Fund
North Herts District Council Grant
Helping Herts Homeless
Cheshire Community Assurance
HCC Locality Grants
Shanly Foundation
Other
Nationwide
Lloyds’ Foundation
Wellfield Trust		 260,497
260,497
247,509
205,079
205,079
201,377
104,697
104,697
154,504
66,066
66,066
90,830
55,500
55,500
30,000
35,850
35,850
0
31,008
31,008
49,176
24,643
24,643
0
20,000
20,000
30,000
14,980
14,980
20,170
13,250
13,250
7,500
7,929
7,929
0
5,300
5,300
4,000
7,790
7,790
0
1,830
1,830
1,835
1,000
1,000
0
375
375
0
0
37,500
0
8,333
0
1,419
Total Income from Charitable Activities 327,020
528,774
855,794
884,153
b. Income from charitable activities by Project
Restart
Mid Herts
North Herts
Sparks Café		 Year ended 31 March 2025
Y/E
31 March
2024
£
Unrestricted
Funds
£
Restricted
Funds
£
Total
Income
£
205,079
245,497
450,576
477,840
27,750
108,699
136,449
89,345
27,750
112,437
140,187
127,249
66,441
62,141
128,582
189,719
Total Income from Charitable Activities 327,020
528,774
855,794
884,153

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Financial Statements

Year ended 31st March 2025

Notes (continued)

4. Expenditure
Y/E
31 March
2025
£
Y/E
31 March
2024
£
a. Fundraising trading costs:
Local Giving/Just Giving Subscriptions
180
96
Total
180
96
b. Charitable activities:
Staff costs (note 5)
501,679
514,640
Other personnel costs
28,309
37,182
Service delivery
189,921
212,755
General overheads
129,692
124,966
Total
847,381
889,543
c. Governance costs:
Independent examiner’s fee(note 10)
720
1,080
Total
720
1,080
Total Expenditure
848,281
890,719
5. Staff costs
Wages and salaries
457,010
469,731
Employer’s National Insurance Costs
35,592
35,854
Employer’s Pension Costs
9,077
9,055
Total
501,679
514,640
Average number of FTE employees in the year
14.7
17.3

  1. All staff employed by the charity are engaged in charitable activities

  2. No employee received total remuneration including benefits totalling £60,000 or more

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Financial Statements

Year ended 31st March 2025

Notes (continued)

6. Tangible fixed assets Office Service
Equipment Equipment TOTAL
Cost £ £ £
At 1 April 2024 15,835 5,436 21,271
Additions 651 0 651
Disposals 0 0 0
At 31 March 2025 16,486 5,436 21,922
Depreciation
At 1 April 2024 12,766 4,417 17,183
Charge for year 1,619 1,019 2,638
Disposals 0 0 0
At 31 March 2025 14,385 5,436 19,821
Net book value at 31 March 2024 3,069 1,019 4,088
Net book value at 31 March 2025 2,101 0 2,101
7. Debtors and prepayments Year ended Year ended
31 March 31 March
2025 2024
£ £
Grant income due within 1 year 222,878 0
Prepayments 33,217 40,311
Income notyet received into bank 802 2,550
Total debtors receivable in less than 1year 256,897 42,861
Grant income due > 1year 297,796 0
Total debtors receivable after more than 1year 297,796 0
8. Creditors and accruals Year ended Year ended
31 March 31 March
2025 2024
£ £
Deferred income receivable within 1 year 262,550 187,384
Provision for VAT 18,400 18,400
Payroll accruals 11,000 9,019
Other creditors and expense accruals 97,841 51,330
Total creditorspayable within 1year 389,791 266,133

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Financial Statements

Year ended 31st March 2025

Notes (continued)

8. Creditors and accruals Year ended Year ended
31 March 31 March
2025 2024
£ £
Deferred income receivable after 1year 297,796 0
Total creditorspayable after 1year 297,796 0

9. Trustee Remuneration and Expenses

During the year no Trustee received any remuneration (2024: £nil) and claimed no expenses (2024: £nil)

10. Related Party Transactions

During the year there were no related party transactions.

11. Independent Examiner

During the year amounts paid to the Independent Examiner were:

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Financial Statements

Year ended 31st March 2025

STATEMENT OF CASH FLOWS
2024/25 2023/24
£ £
Cashflows from Operating Activities:
Net cash flow provided by (used in) operating activities -52,378 30,736
Cash Flows from investing activities:
Purchase of Fixed Assets -651 -831
Net cashprovided by (used in) investing activities -651 -831
Change in cash in the year -53,029 29,905
Cash at the beginning of theyear 419,961 390,056
Cash at the end of theyear 366,932 419,961
Reconciliation of net income / (expenditure) to net cash flow from
operating activities
Net Income for the year 35,362 3,463
Adjustments for:
Depreciation Charges 2,638 3,684
(Increase) / Decrease in debtors -511,832 -2,599
Increase /(Decrease) in creditors 421,454 26,188
Net cashprovided by /(used in) operating activities -52,378 30,736

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