**To** ## **Trustees' Annual Report for the period** Period start date Period end date 20 02 2023 31 03 2024 **From** ## Section A Reference and administration details **Charity name** Matthew Barley Arts Foundation **Other names charity is known by Registered charity number (if any)** MBAF |**Charity's principal address**|
2 Japan Crescent,|
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Professor Sarah
Maitlis|Chair||| ||Mr Benjamin
Mellefont|||| ||Dr Stewart Moshe
Halperin|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| 1 **Names of the trustees for the charity, if any, (for example, any custodian trustees)** **Name Dates acted if not for whole year** ## **Names and addresses of advisers (Optional information)** **Type of adviser Name Address** ## **Name of chief executive or names of senior staff members (Optional information)** Matthew Barley, Foundation’s Director ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Constitution Type of governing document (eg. trust deed, constitution) CIO How the charity is constituted - (eg. trust, association, company) Trustees were selected for their acumen in the areas of music, mental Trustee selection methods health and business/organisation by Matthew Barley, the Foundation’s (eg. appointed by, elected by) Director. ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: We have developed a safeguarding and privacy policy for the Foundation in its initial year and will develop further policies as the Foundation develops and grows. - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. 2 ## **Section C Objectives and activities** The objects of the CIO are: **Summary of the objects of the charity set out in its governing document** - 1) For the public benefit, to advance the musical education of students in higher and tertiary education by enhancing the knowledge, experience, enjoyment, understanding and performance of classical and contemporary music, dance, choreography and the visual arts, including through tuition, master-classes, events and performance opportunities. 2) The advancement of the arts for the public benefit through the provision of performances of artistic merit in classical and contemporary music, dance, choreography and the visual arts. 3) The preservation and protection of good mental health and wellbeing among students in higher education and tertiary education who are experiencing, or are at risk of experiencing mental health conditions, through participation in creative music and arts projects and workshops designed to improve the lives of participants. This is the first year of the charity’s activities and it has carried out activities in relation to the following areas: ## **Performances** **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** A performance of Verklärte Nacht took place at Milton Court on 18[th] October 2023 to a full audience. The Viktoria Mullova ensemble presented a new route into this magical and transformative work. The central message of Verklärte Nacht (explicit in the poem, and therefore implicit in the music) is that love has the power to transform, and to overcome difficulty. The presentation was based on this message, adapted for our times to communicate our belief in diversity, inclusivity and international dialogue and tolerance. The performance was a collaboration with Taiwanese dancer Ching-Ying Chien, with projections by Yeast Culture. Through presenting a powerful procession of small pieces in an unusual way with staging and lighting, with reference to the poem, the audience were brought to a place of deep attention _before_ the Schoenberg began, so that those spell-binding unison Ds on cello and viola already land in transformed ears for the start of that journey. Moved by the challenges facing the world at this time, this was our way, like so many artists, to find some humble way to offer our contribution for peace, healing, and greater understanding and cooperation. ## **Workshops** _Sounds Together_ has been developed by cellist Matthew Barley and is delivered with actor and singer, Emma Bonnici. It responds to the deteriorating mental health of students. Barley’s new performance-based workshops and sharings, take students on a personal journey to explore their own mental health challenges and build greater personal resilience. Our first pilot workshop took place in March at Leeds University where we delivered 3 days of music and movement workshops to co-curate a new piece of work, together with the students. Through the creative process we addressed feelings such as anxiety, competitive feelings, lack of self-worth and overwhelm. We nurtured thinking and skills, such as empathy, listening and trust, to cultivate - empowerment, self worth, and resilience. We also explored ideas about 3 how music and movement can have a positive effect of on mental health, motivation and lifestyle habits. We have two further pilot workshops booked in and are developing further workshops in 2024 /25 linked to Matthew Barley’s _Light Stories_ performance. ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; - contribution made by volunteers. 4 Section D Achievements and performance ## **Summary of the main achievements of the charity during the year** For _**Verklärte Nacht**_ we worked with a team of six musicians, a dancer, choreographer, composer, lighting designer and projection team. The performance was developed by this team of people to create a piece that spanned dance, poetry, music and the visual arts. The performance was very well received by the audience and press alike. Some press quotes below: - **Classical Source, 18 October,** review by Peter Reed - _’ It was worth the wait, played by six superb musicians who_ - _clearly love and understand the piece. Solo moments emanated rather than imposed, the voicing and balance was off the scale in terms of finesse and responsiveness, Dehmel’s poem was completely honoured’_ - **The Times, 19 October,** review by Geoff Brown - _‘The rapture of Viktoria Mullova’s soaring violin in the limpid and calming final stretch: wonderful. The ensemble’s colourful texture, built upon the lively foundation laid down by the cellists Peteris Sokolovskis and Matthew Barley (the ensemble’s director): this too made the performance special’_ The project also impacted several of the individual musicians taking part, who felt they gained a lot from working and playing with Viktoria Mullova and Matthew Barley. From Lisa Reider, violinist: “Viktoria shared so many practical violinistic "secrets" with me, I really feel my bow technique changed completely: I was never happy with my legato and always had several unsolved questions about bow pressure etc. She explained me things in a very simple and clear way and of course through playing next to her, just day by day I could improve and learn also just by listening and observing. From Matthew I learned much about psychological, social and organisational aspects of making music together with many people and that it’s not only about playing; he shared his thoughts and experiences with me in so kind and supportive way that in the end it feels at least same importance as to have the right fingerings and bowings” For our _**Sounds Together**_ workshops we have successfully built a core team of professionals to develop and deliver the programme of workshops across UK universities. Emma Bonnici and Matthew Barley, a dynamic actor and singer, and an award winning cellist, both with extensive experience of running workshops have developed a highly specialised workshop programme to build resilience and confidence amongst artists through creating and performing new work. As the Charity’s director, Matthew also oversees the strategic development and direction of the charity. Sophia Orton, a mental health practitioner with many years experience in the university sector, accompanied the team for the first pilot and will be present at any university that can’t provide mental health support. We built a partnership with York St John University and have a project 5 Section D Achievements and performance evaluator on board from the university with a background in dance and mental health and the role of interdisciplinary art in psychological wellbeing. Nicola Forshaw will help to properly research and evaluate the project during the pilot phase, so that we can respond and improve on its model as we roll it out across more universities. Rachel Toogood, a creative producer, with more than 20 years experience of running arts and cultural projects will oversee the delivery of the project and its development across the pilot phase and beyond. MBAF has successfully built relationships with three universities to carry out pilot projects in 2024 – Leeds University, York St John University and UCL in London. The pilots each have a slightly different model that we will try out to see how they work for workshops going forwards. Our first pilot in Leeds was hugely inspirational and extremely informative. We saw that the project worked! The feedback we received from the students was incredibly positive. Some quotes below: "I have learned music from childhood, but I have never taken part in such a workshop before . . .I have never felt, oh this is my body!" “The workshop felt like a step forward on your healing journey” MBAF has also built partnerships with other universities (University of Sheffield, Queen’s University Belfast, Surrey University, Coventry University and Kingston University) to carry out more workshops after the pilot phase, to coincide with Matthew Barley’s _Light Stories_ performance. Matthew Barley is also in the development phase of his project _**Light Stories.** Light Stories_ is a new performance project in collaboration with YeastCulture. It tells the story of Barley’s own life experience, bringing together for the first time the story of his teenage trauma and attempted suicide, and his journey of recovery. It is described by Barley as ‘ _a passionate celebration of the healing power of music’._ _Light Stories_ is the personal tale of how music and music making saved Barley’s life, told through a stream of music and projected imagery. It will take audiences on a journey from darkness into light, as Barley expresses his search for meaning in his music making and how, in time, he came to heal his wounds. ## **Section E Financial review** 6 We do not currently have any reserves as we are in our first year, but will **Brief statement of the** look to grow these in future years. **charity’s policy on reserves** The accounts show a small deficit in funds, but some unrestricted **Details of any funds materially** fundraising has been raised to remove this deficit and the Foundation’s **in deficit** funds are in credit. ## **Further financial review details (Optional information)** You **may choose** to include additional information, where relevant about: - the charity’s principal sources of funds (including any fundraising); MBAF has worked with a professional fundraiser to gain funding for the projects in its initial year. We have mostly received grants from trusts and foundations. The funds raised from these grants has enabled MBAF to carry out a year of activity and plan for future activity going forwards. - how expenditure has After the pilot phase of the project is completed we will publish our - supported the key objectives findings, research and evaluation and use these to gain further funds to - of the charity; take the project further and work with more universities. - investment policy and objectives including any ethical investment policy adopted. ## **Section F Other optional information** ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s) Full name(s)** Sarah Maitlis **Position (eg Secretary, Chair,** Chair **etc) Date** 22.1.25 7 REGSTERED CHARITY NUMBER:. 1202012 Report of the Trustees and Unaudited Flnanclal Statements forthe Year Ended 31 March 2024 for Matthew Barley Arts Foundation Matthew Barley Arts Foundatk>n Financial Statements for the Year Ended 31 March 2024 Contents of Financlal Statements Page Independent Examinerfs Report Report of the Trustees Statement of Financial Activities Balance Sheet Notes to the Finanaal Statements 6t07 Detailed Statement of Financial Activities Matthew Barley Arts Foundation Registered Number:. 1202012 Independent examlnerfs report to the tnjstees of Matthew Barley Arts Foundatlon forthe Year Ended 31 Ma￿h 2024 I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 2 to 8. Respertlve responslbilltles of trustees and examiner The charivs trustees are responsible for the preparation of the accounts. The charivs trustees consider that an audit is not required for this year under section 144(2) of the Charities Art 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:_ examine the accounts under section 145 of the 2011 Act. to follow the prO￿dureS laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act. to stste whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance with the general Dirertions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair vie￿, and the report is limited to the matters set out in the next statement. Independent examinerfs statement In connection with my examination, no matter has come to my attention: (l) whith gives me reasonable cause to believe that in any material respect the requirements:_ to keep accounting records in accordance with section 130 of the 2011 Act and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been rnet or (2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached Richard T Brooks Leonis Accountants Limited Independent Examiner Page 2 Rqlstered Number- 1202012 Rep)rt of the Tru#ees fDr the Year Ended 31 ma￿ 2024 The tnjstees wesent their report with the fviancial ststements ofthe tharity for the year ended 31 March 2024. trustees have adopted the prDvisiorts of the Statement of Recommended Prdctice (SORP) 'Accountln8 and Re￿ by charTt￿ issued in Marth 2(X)5. REFEREKE AND ADMINISTrATNE DETAILS Regstered Charity ￿rnber 020 Trustees Prof S Maiffis B Mellefont t￿ S Moshe Halperin Appointed 20/02/2023 Appointed 2010212023 Appointed 2010212023 sTrucruR4 GOVERNAN￿ AND MANAGEMEKr rning tk>cument The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Risk Management The trustees have a duty to identtfy and review the risks to which the charity if exposed and to ensure appropriate controls are in pla￿ to provide reasonable assurance against fraud and error. Approved by order of the board of trustees on.........-.-......................... and signed on its behalf by: Dr S Moshe Halperin Trustee Page 3 Matthew Barley Arts Foundatlon Reglstered Number:. 1202012 Statement of Flnanclal Artfvitles forthe Year Ended 31 March 2024 Unrestrirted Funds Restricted Funds 31.03.2024 Totsl Funds INCOMING RESOURCES Incomlng Resources from generated funds Donations from individuals Trusts and foundations 7,588 7,588 22,260 29,848 22,260 22,260 7,588 RESOURCES EXPENDED Charitable activities Production and artist fees Governance costs Other resources expended 11,068 2(K) 35 22,260 33,328 2(X) 35 Total resources expended 11,303 22,260 33,563 NEf INCOMING/(OUTGOING) RESOURCES (3,715) (3,715) Total funds brought forward TOTAL FUNDS CARRIED FORWARD (3,715) (3,715) Page 4 Matthew Barley Arts Foundatlon Reglstered Number:. 1202012 Balance Sheet for the Year Ended 31 March 2024 Unrestrlcted Funds Restrlrted Funds 31.03.2024 Totsl Funds Notes CURRENT ASSErs Cash at bank and in hand Debtors and prepayments 2,485 2,485 2,485 2,485 CURRENT UABIUTIES Amounts falling due within one year (6,200) (6,2(X)) NET CURRENT ASSErs 3,715) 3,715 TOTAL ASSETS LESS CURRENT LIABILITIES (3,715) (3,715) NEf ASSErs 3,715 (3,715) FUNDS Unrestricted funds (3,715) TOTAL FUNDS CARRIED FORWARD (3,715) The financial statements were approved by the Board of Trustees on......... . .................. and were signed on its behalf by: Drs Moshe Halperln Trustee Page 5 Matthew Barley Arts Foundatlon Reglstered Number- 1202012 Notes to the Financial Statements forthe Year Ended 31 Marrh 2024 ACCOUNTING pouaES Accountlng converf(lon The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2CK)8), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting Charities. Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all the cost relating 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 ststements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration of other benefits for the year ended 31 March 2024. Trustees expenses There were no trustees, expenses paid for the year ended 31 March 2024. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Trade debtors Prepayments Page 6 Matthew Barley Arts Foundatlon Reglstered Number- 1202012 Notes to the Flnancial Statements (continued) for the Year Ended 31 Marrh 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Trade creditors Other loans Accruals and deferred income 2CX) 6,2(X) STATEMENT OF MOVEMENTS Asat 20.02.2023 Net movement in fvnds At 31.03.2024 Unrestricted funds General fund TOTAL FUNDS 3,715 (3,715) 3,715 (3,715) Net movement in funds, included in the above are as follows: Incomlng Resources Resources expended Movement in funds Unrestrirted funds General fund TOTAL FUNDS 29,848 29,848 (33,563) (33,563) 3,715 (3,715) Page 7 Matthew Barley Arts Foundation Re81stered Number:. 1202012 Detalled Statement of Flnanclal Actlvftles forthe Year Ended 31 Marrh 2024 2024 INCOMING RESOURCES Voluntary Income Donations from individuals Trusts and foundations Total incoming resources 7,588 22,260 29,848 RESOURCES EXPENDED Charitsble activities Production and artist fees 33,328 33,328 Governance costs Accountancy 2CX) Other resources expended Bank charges 35 35 Total resources expended 33,563 Net Income/(expenditure) (£3,715) Page 8 REGSTERED CHARITY NUMBER:. 1202012 Report of the Trustees and Unaudited Flnanclal Statements forthe Year Ended 31 March 2024 for Matthew Barley Arts Foundation Matthew Barley Arts Foundatk>n Financial Statements for the Year Ended 31 March 2024 Contents of Financlal Statements Page Independent Examinerfs Report Report of the Trustees Statement of Financial Activities Balance Sheet Notes to the Finanaal Statements 6t07 Detailed Statement of Financial Activities Matthew Barley Arts Foundation Registered Number:. 1202012 Independent examlnerfs report to the tnjstees of Matthew Barley Arts Foundatlon forthe Year Ended 31 Ma￿h 2024 I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 2 to 8. Respertlve responslbilltles of trustees and examiner The charivs trustees are responsible for the preparation of the accounts. The charivs trustees consider that an audit is not required for this year under section 144(2) of the Charities Art 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:_ examine the accounts under section 145 of the 2011 Act. to follow the prO￿dureS laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act. to stste whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance with the general Dirertions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair vie￿, and the report is limited to the matters set out in the next statement. Independent examinerfs statement In connection with my examination, no matter has come to my attention: (l) whith gives me reasonable cause to believe that in any material respect the requirements:_ to keep accounting records in accordance with section 130 of the 2011 Act and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been rnet or (2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached Richard T Brooks Leonis Accountants Limited Independent Examiner Page 2 Rqlstered Number- 1202012 Rep)rt of the Tru#ees fDr the Year Ended 31 ma￿ 2024 The tnjstees wesent their report with the fviancial ststements ofthe tharity for the year ended 31 March 2024. trustees have adopted the prDvisiorts of the Statement of Recommended Prdctice (SORP) 'Accountln8 and Re￿ by charTt￿ issued in Marth 2(X)5. REFEREKE AND ADMINISTrATNE DETAILS Regstered Charity ￿rnber 020 Trustees Prof S Maiffis B Mellefont t￿ S Moshe Halperin Appointed 20/02/2023 Appointed 2010212023 Appointed 2010212023 sTrucruR4 GOVERNAN￿ AND MANAGEMEKr rning tk>cument The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Risk Management The trustees have a duty to identtfy and review the risks to which the charity if exposed and to ensure appropriate controls are in pla￿ to provide reasonable assurance against fraud and error. Approved by order of the board of trustees on.........-.-......................... and signed on its behalf by: Dr S Moshe Halperin Trustee Page 3 Matthew Barley Arts Foundatlon Reglstered Number:. 1202012 Statement of Flnanclal Artfvitles forthe Year Ended 31 March 2024 Unrestrirted Funds Restricted Funds 31.03.2024 Totsl Funds INCOMING RESOURCES Incomlng Resources from generated funds Donations from individuals Trusts and foundations 7,588 7,588 22,260 29,848 22,260 22,260 7,588 RESOURCES EXPENDED Charitable activities Production and artist fees Governance costs Other resources expended 11,068 2(K) 35 22,260 33,328 2(X) 35 Total resources expended 11,303 22,260 33,563 NEf INCOMING/(OUTGOING) RESOURCES (3,715) (3,715) Total funds brought forward TOTAL FUNDS CARRIED FORWARD (3,715) (3,715) Page 4 Matthew Barley Arts Foundatlon Reglstered Number:. 1202012 Balance Sheet for the Year Ended 31 March 2024 Unrestrlcted Funds Restrlrted Funds 31.03.2024 Totsl Funds Notes CURRENT ASSErs Cash at bank and in hand Debtors and prepayments 2,485 2,485 2,485 2,485 CURRENT UABIUTIES Amounts falling due within one year (6,200) (6,2(X)) NET CURRENT ASSErs 3,715) 3,715 TOTAL ASSETS LESS CURRENT LIABILITIES (3,715) (3,715) NEf ASSErs 3,715 (3,715) FUNDS Unrestricted funds (3,715) TOTAL FUNDS CARRIED FORWARD (3,715) The financial statements were approved by the Board of Trustees on......... . .................. and were signed on its behalf by: Drs Moshe Halperln Trustee Page 5 Matthew Barley Arts Foundatlon Reglstered Number- 1202012 Notes to the Financial Statements forthe Year Ended 31 Marrh 2024 ACCOUNTING pouaES Accountlng converf(lon The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2CK)8), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting Charities. Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all the cost relating 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 ststements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration of other benefits for the year ended 31 March 2024. Trustees expenses There were no trustees, expenses paid for the year ended 31 March 2024. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Trade debtors Prepayments Page 6 Matthew Barley Arts Foundatlon Reglstered Number- 1202012 Notes to the Flnancial Statements (continued) for the Year Ended 31 Marrh 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Trade creditors Other loans Accruals and deferred income 2CX) 6,2(X) STATEMENT OF MOVEMENTS Asat 20.02.2023 Net movement in fvnds At 31.03.2024 Unrestricted funds General fund TOTAL FUNDS 3,715 (3,715) 3,715 (3,715) Net movement in funds, included in the above are as follows: Incomlng Resources Resources expended Movement in funds Unrestrirted funds General fund TOTAL FUNDS 29,848 29,848 (33,563) (33,563) 3,715 (3,715) Page 7 Matthew Barley Arts Foundation Re81stered Number:. 1202012 Detalled Statement of Flnanclal Actlvftles forthe Year Ended 31 Marrh 2024 2024 INCOMING RESOURCES Voluntary Income Donations from individuals Trusts and foundations Total incoming resources 7,588 22,260 29,848 RESOURCES EXPENDED Charitsble activities Production and artist fees 33,328 33,328 Governance costs Accountancy 2CX) Other resources expended Bank charges 35 35 Total resources expended 33,563 Net Income/(expenditure) (£3,715) Page 8