## **Derby Excel Swimming Club** **Charity No. 1202349** **Trustees' Report and Unaudited Accounts** **30 April 2025** **Derby Excel Swimming Club Contents** ||Pages| |---|---| |Trustees' Annual Report|2 to 4| |Independent Examiner's Report|5| |Statement of Financial Actvites|6| |Balance Sheet|7| |Statement of Cash fows|16| |Notes to the Accounts|8 to 15| |Detailed Statement of Financial Actvites|17 to 18| The trustees present their report with the unaudited financial statements of the charity for the year ended 30 April 2025. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity No. 1202349** ## **Principal Office** Moorways Sports Village Moor Lane Allenton Derby DE24 9HY ## **Trustees** The following trustees served during the year: N.V. Bains P. Hibbs B. Ingram ## **Accountants** Davis Accountants Limited Big Wood House 109 Woodlands Road Allestree Derby DE22 2HH ## **OBJECTIVES AND ACTIVITIES** The promotion of community participation in healthy recreation, primarily but not exclusively, for the benefit of the inhabitants of Derby and the surrounding areas by the provision of development/competitive activities/swimming and associated activities. Page 1 ## **Derby Excel Swimming Club** ## **Trustees Annual Report** The main activities undertaken in relation to those purposes...Swimming lessons, swimming training, competitive swimming. Providing a swimming pathway in Derbyshire. Capturing children leaving the learn to swim programme at Moorways sports village and other swim schools and improving their health and swimming ability. Providing a competitive swimming club for the City of Derby. Providing a performance swim training programme for the county of Derbyshire. ## **ACHIEVEMENTS AND PERFORMANCE** The establishment of a swimming academy for children at the end of learn to swim programme who wish to continue in the sport of swimming. The Excel Ignite programme was launched in spring 2025 with the aim of bridging the gap between swim lessons and competitive club squads. Page 2 ## **Derby Excel Swimming Club** ## **Trustees Annual Report** The provision of a community swim club. The provision of a performance swim club and performance pathway for the county of Derbyshire. Hosting six high quality swimming competitions for local and nationwide swimmers. Co-hosting a schools gala for the City of Derby. Running taster sessions throughout the year for children to encourage them to join our swimming club. We host the Annual Club Championships and a Presentation Night to highlight the achievements of the swimmers, and to give alumni an opportunity for an annual reunion. **FINANCIAL REVIEW** Over the past year Derby Excel achieved a significant surplus which can be attributed to two factors: - 1) The success of its Open Meet competitions. Derby Excel is gaining a reputation for running high quality, well organised events. The programme encompasses different levels of competition attracting a wide audience, from those competing for the first time to National qualifying events. Entry numbers across the board have increased which has significantly boosted the charity’s finances. - 2) Increase in membership numbers allowing economies of scale across the programme. Reserves are held in high interest account and are retained for predicted future threats to the charity’s finances. Over the past two years the main threat to the Charity’s finances has included anticipated and significant increase in pool hire charges. In recent month’s the charity trustees have successfully negotiated an agreement with the pool operator that ensures pool hire prices for the next five years remain affordable. ## **PLANS FOR FUTURE PERIODS** Growth of the Excel Ignite programme. Growth at the base of the swimming club with the academy squads. Investment in dryside training with a link to the University of Derby and the facilities/expertise that they can offer. Investment in volunteers, removing barriers to entry and supporting training opportunities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Details can be found in our constitution: Derby Excel Constitution ## **Statement of trustees' responsibilities in relation to the financial statements** The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees Page 3 **Derby Excel Swimming Club** ## **Trustees Annual Report** B. Ingram Trustee 19 September 2025 Page 4 **Derby Excel Swimming Club** **Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Derby Excel Swimming Club** I report to the trustees on my examination of the financial statements of Derby Excel Swimming Club for the year ended 30 April 2025. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's financial statements 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 examiner's statement** As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of Association of Chartered Certified Accountants. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - the accounting records were not kept in respect of the charity as required by section 130 of the Act; or - the financial statements do not accord with those records; or - the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. Bibi Saadia Davis FCCA Association of Chartered Certified Accountants Davis Accountants Limited Big Wood House 109 Woodlands Road Allestree Derby DE22 2HH 19 September 2025 Page 5 **Derby Excel Swimming Club Statement of Financial Activities** **for the year ended 30 April 2025** |||**Unrestricted**|**Restricted**||| |---|---|---|---|---|---| |||**funds**|**funds**|**Total funds**|**Total funds**| |||**2025**|**2025**|**2025**|**2024**| ||**Notes**|**£**|**£**|**£**|**£**| |**Income and endowments**|||||| |**from:**|||||| |Donatons and legacies|3|4,497|-|4,497|8,376| |Charitable actvites|4|462,852|2,958|465,810|403,843| |Other trading actvites|5|2,261|-|2,261|5,731| |Investments|6|2,062|-|2,062|-| |Other|7||||| |**Total**|||||| |**Expenditure on:**|||||| |Raising funds|8||||| |Charitable actvites|9||||| |Other|10||||| |**Total**|||||| Net gains on investments **Net income** Transfers between funds **Net income before other gains/(losses)** **Other gains and losses** ## **Net movement in funds** ## **Reconciliation of funds:** Total funds brought forward ## **Total funds carried forward** Page 6 ## **Derby Excel Swimming Club** |**Balance Sheet at**
**30 April 2025**
**Net assets excluding pension asset or liability**
**Charity No. 1202349**
**Current assets**
Stocks
Debtors
Cash at bank and in hand
**Creditors:**Amount falling due within one year
**Net current assets**
**Total assets less current liabilites**|-|-
-|138,292| |---|---|---|---| ||471,672
4,849
420,794
9,710|2,958
474,630
-
4,849
-
420,794
-
9,710|556,242
5,436
401,089
9,559| ||435,353
-|-
435,353
-
-|416,084
-| ||36,319
-|2,958
39,277
-
-|140,158
-| ||36,319|2,958
39,277|140,158| ||36,319
140,158|2,958
39,277
-
140,158|140,158
-| ||176,477|2,958
179,435|140,158| ||12
13
14||| |||179,435
140,158
~~**2025**~~
~~**£**~~
6,283
10,220
201,602
218,105
(38,670)
179,435
179,435|| ||||~~**2024**~~
| ||||~~**£**~~| ||||6,283
-
172,005
178,288
(38,130)
140,158
140,158| ||||| Page 7 **Derby Excel Swimming Club Notes to the Accounts Total net assets** 179,435 140,158 ## **The funds of the charity** |**Restricted funds**
15
Restricted income funds
**Unrestricted funds**
15
General funds
**Reserves**
15
**Total funds**|2,958
-
2,958
-
176,477
140,158
176,477
140,158
179,435
140,158| |---|---| Approved by the trustees on 19 September 2025 And signed on their behalf by: **----- Start of picture text -----**
B. Ingram
Trustee
19 September 2025
**----- End of picture text -----**
## **for the year ended 30 April 2025** ## 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Page 8 **Derby Excel Swimming Club** Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. **Income** Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 9 **Derby Excel Swimming Club Notes to the Accounts** |**es to the Accounts**|| |---|---| |**Expenditure**|| |Recogniton of|Expenditure is recognised on an accruals basis. Expenditure includes any VAT which| |expenditure|cannot be fully recovered, and is reported as part of the expenditure to which it| ||relates.| |Expenditure on|These comprise the costs associated with atractng voluntary income, fundraising| |raising funds|trading costs and investment management costs.| |Expenditure on|These comprise the costs incurred by the Charity in the delivery of its actvites and| |charitable actvites|services in the furtherance of its objects, including the making of grants and| ||governance costs.| |Grants payable|All grant expenditure is accounted for on an actual paid basis plus an accrual for| ||grants that have been approved by the trustees at the end of the year but not yet| ||paid.| |Governance costs|These include those costs associated with meetng the consttutonal and statutory| ||requirements of the Charity, including any audit/independent examinaton fees,| ||costs linked to the strategic management of the Charity, together with a share of| ||other administraton costs.| Other expenditure These are support costs not allocated to a particular activity. **Taxation** The charity is exempt from tax on its charitable activities. ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Research and development** Page 10 **Derby Excel Swimming Club** ## **Notes to the Accounts** Expenditure on research and development is written off in the year in which it is incurred. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ||**Unrestricted**|| |---|---|---| ||**funds**|**Total funds**| ||**2024**|**2024**| ||**£**|**£**| |**Income and endowments from:**||| |Donatons and legacies|8,376|8,376| |Charitable actvites|403,843|403,843| Page 11 **Derby Excel Swimming Club** **Notes to the Accounts** |**Notes to the Accounts**||| |---|---|---| |2
**Statement of Financial Actvites - prior year**
**Total**
**Net income**
Other trading actvites
Other
**Total**
**Expenditure on:**
Raising funds
Charitable actvites
Other
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliaton of funds:**
3
**Income from donatons and legacies**
**Unrestricted**
**£**
4,497
4,497
4
**Income from charitable actvites**
**Unrestricted**
**Restricted**
**£**
**£**
Home Event Income
190,262
-
External Meet Income
19,680
-
Monthly Fee
184,530
-
Other Charitable Actvites
68,380
2,958
462,852
2,958
**Unrestricted**
**£**
2,261
2,261
6
**Income from investments**
**Unrestricted**
**£**
2,062
2,062
7
**Other income**
Income on merger of Derby
City Swimming Club and
Dervento|416,084
140,158
5,731
138,292
556,242
5,436
401,089
9,559
140,158
140,158
**Total**
**2025**
**£**
4,497
4,497
**Total**
**2025**
**£**
190,262
19,680
184,530
71,338
465,810
**Total**
**2025**
**£**
2,261
2,261
**Total**
**2025**
**£**
2,062
2,062
**Total**
**2025**
**£**
-|5,731
138,292
556,242
5,436
401,089
9,559| |||416,084| |||| |||| |||140,158
140,158| |||140,158
**Total**
**2024**
**£**
8,376
8,376
**Total**
**2024**
**£**
171,165
21,308
167,653
43,717
403,843
**Total**
**2024**
**£**
5,731
5,731
**Total**
**2024**
**£**
-
-
**Total**
**2024**
**£**
138,292| Page 12 **Derby Excel Swimming Club Notes to the Accounts** **Total funds carried forward** 140,158 140,158 5 |**Income from other trading actvites**|| |---|---| |-
138,292|| |8|**Expenditure on raising funds**|||| |---|---|---|---|---| |||**Unrestricted**|**Total**|**Total**| ||||**2025**|**2024**| |||**£**|**£**|**£**| ||_Fundraising trading costs_|||| |||4,849|4,849|5,436| |||4,849|4,849|5,436| Page 13 **Derby Excel Swimming Club Notes to the Accounts** |_Expenditure on charitable_
_actvites_
Home Event Income
External Meet Income
Monthly Fee
Other Charitable Actvites
_Governance costs_
10**Other expenditure**
Employee costs
Premises costs
General administratve costs
11**Staf costs**
Pension costs
No employee received emoluments in excess of £60,000. 12
**Stocks**
Finished goods
**Carrying value analysed by actvites**
Home Event Income|**Unrestricted**
**Total**
**Total**
**2025**
**2024**
**£**
**£**
**£**
180,801
180,801
130,601
86,774
86,774
50,360
112,627
112,627
204,011
38,992
38,992
11,673
1,600
1,600
3,954
-
-
490
420,794
420,794
401,089
**Unrestricted**
**Total**
**Total**
**2025**
**2024**
**£**
**£**
**£**
5,480
5,480
6,215
1,587
1,587
1,221
2,643
2,643
2,123
9,710
9,710
9,559
**2025**
**2024**
4,280
4,253
4,280
4,253
**2025**
**2024**
**£**
**£**
6,283
6,283
6,283
6,283
**2025**
**2024**
**£**
**£**
6,283
6,283| |---|---| Page 14 **Derby Excel Swimming Club Notes to the Accounts** |9
**Expenditure on charitable actvites**
13**Debtors**
Prepayments and accrued income|6,283
6,283
**2025**
**2024**
**£**
**£**
10,220
-
10,220
-| |---|---| Page 15 **Derby Excel Swimming Club Notes to the Accounts** ## 14 **Creditors:** amounts falling due within one year |Accruals
Deferred income
15 **Movement in funds**
**At 1 May**
**2024**
**Restricted funds:**
**Restricted income funds:**
Cypriot Fund
-
_Total_
**Unrestricted funds:**
**General funds**
140,158
**Total funds**
140,158
Purposes and restrictons in relaton to the funds:
Restricted funds:
Cypriot Fund
Swimcamp
16**Analysis of net assets between funds**
Net current assets
17**Reconciliaton of net debt**
Cash and cash equivalents
-|**2025**
**2024**
**£**
**£**
13,607
38,130
25,063
-
38,670
38,130
**Incoming**
**resources**
**(including**
**Resources**
**At 30 April**
**other**
**expended**
**2025**
**gains/losses**
**)**
**£**
**£**
**£**
2,958
-
2,958
471,672
(435,353)
176,477
474,630
(435,353)
179,435
**Unrestricted**
**funds**
**Total**
**£**
**£**
179,435
179,435
179,435
179,435
**At 1 May**
**2024**
**Cash fows**
**At 30 April**
**2025**
**£**
**£**
**£**
172,005
29,597
201,602
172,005
29,597
201,602
2,958
-
2,958| |---|---| Page 16 **Derby Excel Swimming Club Notes to the Accounts** Net debt 172,005 29,597 201,602 ## 18 **Commitments** ## _**Operating lease commitments**_ Annual commitments under non-cancellable operating leases are as follows: ||**2025**|**2025**|
**2024**|**2024**| |---|---|---|---|---| ||**Land and**||**Land and**|| |||**Other**|**Other buildings**|**buildings**| ||**£**|**£**|**£**|**£**| |Operatng leases with expiry date:||||| |**_Pension commitments_**||||| |||**2025**||**2024**| |||**£**||**£**| |The pension cost charge to the charity||||| |amounted to:||4,280||4,253| Page 17 **Derby Excel Swimming Club Statement of Cash flows for the** ## **year ended 30 April 2025** |**Net cash from investng actvites**
**Net cash from fnancing actvites**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances
**Cash fows from operatng actvites**
**Net income per Statement of Financial Actvites**
**Adjustments for:**
Dividends, interest and rents from investments
Other gains/losses
Increase in stocks
Increase in trade and other receivables
Increase in trade and other payables
**Net cash provided by operatng actvites**
**Cash fows from investng actvites**
Dividends, interest and rents from investments|29,597
172,005
201,602
201,602
201,602
**2025**
**£**
39,277
(2,062)
-
-
(10,220)
540
27,535
2,062
2,062
-|172,005
-
172,005
172,005
172,005
**2024**
**£**
140,158
(138,292)
-
(6,283)
-
38,130
33,713
138,292
138,292
-| |---|---|---| Page 18 **Derby Excel Swimming Club** ||**Unrestricte**|**Restricted**||| |---|---|---|---|---| ||**d funds**|**funds**|**Total funds**|**Total funds**| ||**2025**|**2025**|**2025**|**2024**| ||**£**|**£**|**£**|**£**| |**Income and endowments from:**||||| |Donatons and legacies||||| ||4,497|-|4,497|8,376| ||4,497|-|4,497|8,376| |Charitable actvites||||| |Home Event Income|190,262|-|190,262|171,165| |External Meet Income|19,680|-|19,680|21,308| |Monthly Fee|184,530|-|184,530|167,653| |Other Charitable Actvites|68,380|2,958|71,338|43,717| ||462,852|2,958|465,810|403,843| |Other trading actvites||||| ||2,261|-|2,261|5,731| ||2,261|-|2,261|5,731| |Investments||||| ||2,062|-|2,062|-| ||2,062|-|2,062|-| |Other||||| |Income on merger of Derby City
Swimming Club and Dervento|-|-|-|138,292| ||-|-|-|138,292| |**Total income and endowments**|471,672|2,958|474,630|556,242| |**Expenditure on:**||||| |Costs of other trading actvites||||| ||4,849|-|4,849|5,436| ||4,849|-|4,849|5,436| |**Total of expenditure on raising**|4,849|-|4,849|5,436| |**funds**||||| |Charitable actvites||||| |Home Event Income|180,801|-|180,801|130,601| |External Meet Income|86,774|-|86,774|50,360| |Monthly Fee|112,627|-|112,627|204,011| |Other Charitable Actvites|38,992|-|38,992|11,673| ||419,194|-|419,194|396,645| |Governance costs||||| Page 19 **Derby Excel Swimming Club** |1,600|-|1,600|3,954| |---|---|---|---| |-|-|-|490| ||-||4,444| **Detailed Statement of Financial Activities for the year ended 30 April 2025** 1,600 1,600 Page 20 **Derby Excel Swimming Club Detailed Statement of Financial Activities** |**Total of expenditure on charitable**
**actvites**
Employee costs
Pension costs
Staf entertainment
Staf training
Staf welfare
Premises costs
Rent
General administratve costs,
including depreciaton and
amortsaton
Bank charges
Exchange rate (gain)/loss
Sofware, IT support and related
costs
Statonery and printng|420,794
4,280
108
705
387
5,480
1,587
1,587
522
100
1,502
519|-
-
-
-
-
-
-
-
-
-
-
-|420,794
4,280
108
705
387
5,480
1,587
1,587
522
100
1,502
519|401,089
4,253
89
1,255
618
6,215
1,221
1,221
547
-
871
705| |---|---|---|---|---| |||||| 36,319 2,958 39,277 140,158 |**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**|2,643
9,710
435,353
-
36,319|-
-
-
-
2,958|2,643
9,710
435,353
-
39,277|2,123| |---|---|---|---|---| |||||9,559| |||||416,084
-
140,158| Page 21 |**Derby Excel Swimming Club**||||| |---|---|---|---|---| |**Net income before other**||||| |**gains/(losses)**|36,319|2,958|39,277|140,158| |Other Gains|-|-|-|-| |**Net movement in funds**||||| |**Reconciliaton of funds:**||||| |Total funds brought forward|140,158|-|140,158|-| |**Total funds carried forward**|176,477|2,958|179,435|140,158| Page 22