REGISTERED CHARITY NUMBER: 1203023
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
FOR
BRIDGING THE GAP YOUTH - MERTHYR
Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
BRIDGING THE GAP YOUTH - MERTHYR
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
BRIDGING THE GAP YOUTH - MERTHYR
REPORT OF THE TRUSTEES FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the period 11 May 2023 to 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of the Charity is to advance in life and relieve the needs of, young people aged between 3 and 19, in Merthyr Tydfil. The Charity does this through the provision of recreational and leisure time activities, in the interest of social welfare. This is designed to improve their conditions of life, providing support and activities which help develop their skills, capacities and capabilities, to enable them to participate in society as mature and responsible individuals.
Public benefit
The Trustees are aware that the Charity has a responsibility under the Charities Act to demonstrate that it has charitable aims that meet the public benefit requirement and are therefore charitable. The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit and comply with s17 Charities Act 2011 in respect of having due regard to public benefit when considering, planning and implementing the activities of the charity.
Volunteers
The organisation is thankful for having 2 Volunteers during the year. Working approximately 2.5 hours each once a week.
One of the volunteers has since joined the team as a paid member of staff. ( April 2024)
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BRIDGING THE GAP YOUTH - MERTHYR
REPORT OF THE TRUSTEES FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE Charitable activities The Story of our Project April 2023- March 2024
The new Project Manager began her fulltime contract at the start of April 2023 supported by the retiring Project Manager for a month and worked alongside all the staff who were now in place because of the Lottery grant funding.
We held a Meet the New Project Manager event on the afternoon of Thursday 14th April at Bridging the Gap Youth which was well attended by all the families we work with. In addition, all organisations that we work in partnership with were represented by Managers, staff etc. Our local MPs and Mayor were also in attendance. The afternoon provided the opportunity for parents to meet the new Project Manager and all the staff working at the project both in paid and voluntary capacity. The afternoon provided a good networking opportunity also and enabled us to share the history of Bridging the Gap Youth and our fantastic funding success from The National Lottery Community Fund.
The Operations Manager safeguards the project and ensures a smooth transition of management. The Operations manager has introduced a staff contingency plan to mitigate any risks associated with staff absences. The operations manager forms a vital part of the management system by overseeing the managements, labour, policy decisions and quality and safety control. The role will also ensure the organisation maintains the quality of service and ensure standards are adhered to.
May 11th, 2023, we received confirmation from the Chairty Commission that our application to become a Charitable Incorporated Organisation (CIO) was successful. As a result, we are now Bridging the Gap Youth - Merthyr our charity number is 1203023.
We were fortunate to receive funding from The Cohesion fund which was allocated through MTCBC. This enabled us to offer free sessions from July 3rd for the after-school club and during 4 weeks of the summer holidays. The Summer holiday club ran for 4 weeks from Monday 31st July to Friday 25th August 10.30am-4pm with restricted hours for the under 12's.
In July and August, we were able to provide all young people with a Lottery funded food bag which meant families had additional help to feed young people and siblings during our closure weeks.
In addition, we also received funding from to support the Food & Fun initiative which meant we were able to offer free breakfasts and lunch to all young people attending the project week commencing 14th August 2023 when we had young people 3-19 attending all day. The funding also included money for resources and additional seasonal support staff. Funding from the National Lottery Top up Grant for heating enabled us to cook hot meals throughout the entire 4 weeks of the summer holidays and provide free places from October 23 - March 24.
Bridging the Gap Youth is a project that has been initiated and maintained by the people of the local community for nearly 18 years. We consult with the Young People who use our services on a regular basis, as well as their parents to ensure that the project is still relevant and beneficial.
Our management committee is made up of parents whose children have attended the Club over the years, some who have children currently attending the club. Each of these parents live within the local community and bring different skills as they have different areas of expertise.
The same can also be said of the staff we employ. There are a range of ages, from those who have come through as volunteers and young workers at the age of 16 years, to the more mature in life, some of whom who have years of experience in childcare and education. Staff are committed to maintain their Professional development, attending training to meet CIW standards.
We have regular sensory sessions at Cwm Golau ICC we visit The Integrated Children's Centre (ICC) daily both after school and during school holidays. The ICC also offer training at evenings and weekends which staff can access.
We were given the opportunity to turn drawings into glass art to make a Bridging the Gap Youth plaque which will go into an exhibition in Aberdare.
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BRIDGING THE GAP YOUTH - MERTHYR
REPORT OF THE TRUSTEES FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
The Managers visited the exhibition and took photos to share on social media.
BGY continues to meet the needs of families in the community, providing respite for families and support young people in a social caring environment.
Staff continue to maintain their Professional development, attending training to meet CIW standards.
FINANCIAL REVIEW
Financial position
For the period ended 31st March 2024, total income was £207,934. This included £77,479 of funds that were introduced from the previous unregistered organisation.
Total expenses for the period totalled £152,868, giving an overall surplus for the period of £55,066.
At the 31st March 2024, Unrestricted Reserves totalled £33,885 and Restricted Reserves totalled £21,181.
Principal funding sources
During the year the organisation managed to gain grant funding from the following:
-
National Lottery
-
MTCBC Playschemes
-
MTCBC Cohesion Fund
Reserves policy
The Trustees are aware that a Reserves Policy is required in order to identify and fill the gap between income and expenditure and to cover unplanned emergency expenditure.
The Trustees are currently in the process of formally identifying a detailed Reserves Policy, but consider that the level would be approximately 6 months expenditure.
Current Free Reserves are £33,885. Expected Target Reserves would be £76,434. It is the aim of the charity to increase free reserves going forward.
FUTURE PLANS
It is our plan to become CIW registered, which will benefit parents. They will be able to claim for their childcare.
Also, children under 12 years of age will be able to attend longer sessions. We believe this will increase our number of attendees, which will help our project grow and support our sustainability while continuing to meet the growing demands in the community.
We would like to offer additional services for which we will be carrying out a consultation once the CIW registration is completed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Should the need for new Trustees arise, the current Trustees consider the knowledge and experience required and approach suitably qualified candidates accordingly.
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BRIDGING THE GAP YOUTH - MERTHYR
REPORT OF THE TRUSTEES FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Bridging The Gap Youth - Merthyr, is a registered CIO (Charitable Incorporated Organisation).
The Charity was registered with the Charity Commission, in England & Wales, on the 11th May 2023.
The Charity Commission number is 1203023.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1203023
Principal address
Jerusalem Church Castle Street Pentrebach Merthyr Tydfil CF48 4BN
Trustees
D P Bufton (Chair) (appointed 11.5.23) S J Jenkins (Treasurer) (appointed 11.5.23) A M Popp (appointed 11.5.23)
Day to day management - Lisa Clack (Project Manager)
Independent Examiner
Richard I Knoyle ACA FCCA Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
Approved by order of the board of trustees on 11 December 2024 and signed on its behalf by:
S J Jenkins - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIDGING THE GAP YOUTH - MERTHYR
Independent examiner's report to the trustees of Bridging The Gap Youth - Merthyr
I report to the charity trustees on my examination of the accounts of Bridging The Gap Youth - Merthyr (the Trust) for the period 11 May 2023 to 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
Richard I Knoyle ACA FCCA
Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
11 December 2024
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BRIDGING THE GAP YOUTH - MERTHYR
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities After School & Holiday Club 48,302 Other income 77,479 Total 125,781 EXPENDITURE ON Charitable activities 3 After School & Holiday Club 35,689 NET INCOME/(EXPENDITURE) 90,092 Transfers between funds 10 (56,207) Net movement in funds 33,885 TOTAL FUNDS CARRIED FORWARD 33,885 |
Restricted funds £ 82,153 - - 82,153 117,179 (35,026) 56,207 21,181 21,181 |
Total funds £ 82,153 48,302 77,479 207,934 152,868 55,066 - 55,066 55,066 |
|---|---|---|
The notes form part of these financial statements
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BRIDGING THE GAP YOUTH - MERTHYR
BALANCE SHEET
| CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS |
31 MARCH 2024 Notes 8 10 |
£ 57,166 (2,100) 55,066 55,066 55,066 33,885 21,181 55,066 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2024 and were signed on its behalf by:
S J Jenkins - Trustee
The notes form part of these financial statements
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific policies are applied:
Voluntary income received by way of grants, gifts or donation is included in full on receipt unless it is subject to a condition when it is treated as deferred income.
Government Grant Income is included in full on receipt unless it is subject to a condition when it is treated as deferred income.
Deferred income : Income or grants received in advance are held as deferred income and carried forward to future accounting periods to be released when the defined purposes of the work or project have been completed, approved or certified.
Gifts in Kind are included in the income and expenditure account where they are applied in carrying out charitable activities, where the company would otherwise have to purchase the donated facility and the benefit is both quantifiable and material. the quantifiable benefit is shown as both incoming and expended resources within the appropriate funds. Where the gift is an asset it is treated as income and taken to stock or fixed assets as appropriate. The value of services provided by volunteers is not quantified.
Investment income is included when receivable.
Trading income is recognised when earned.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 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.
Support costs allocation
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Expenditure
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Costs of generating funds include the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes the costs that can be attributed directly to those activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost
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 statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Leases
Rentals payable and receivable under operation leases are charged to the SoFA on a straight line basis over the period of the lease.
Going concern
See Notes to the Accounts.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
2. DONATIONS AND LEGACIES
| Grants Grants received, included in the above, are as follows: The National Lottery Merthyr Tydfil County Borough Council 3. CHARITABLE ACTIVITIES COSTS After School & Holiday Club 4. SUPPORT COSTS After School & Holiday Club Support costs, included in the above, are as follows: Rent Insurance Telephone Independent Examiners |
Support Direct costs (see Costs note 4) £ £ 141,251 11,617 Governance Other costs £ £ 9,517 2,100 |
£ 82,153 £ 76,846 5,307 82,153 Totals £ 152,868 Totals £ 11,617 After School & Holiday Club £ 8,914 549 54 2,100 11,617 |
|---|---|---|
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 March 2024.
6. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the period was as follows: Administrative Staff After School & Holiday Club Staff |
£ 110,200 303 960 111,463 4 11 15 |
|
|---|---|---|
No employees received emoluments in excess of £60,000.
There are no high paid staff.
The key management of the charity comprises the Finance & Project Managers. The total benefits of the the key management personnel of the charity was £41,922.
7. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| COST | Computer equipment £ |
| At 11 May 2023 and 31 March 2024 | 3,642 |
| DEPRECIATION | |
| At 11 May 2023 and 31 March 2024 | 3,642 |
| NET BOOK VALUE | |
| At 31 March 2024 | - |
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
£ 2,100
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed Assets Net Current Assets |
Unrestricted Funds £ - 33,885 33,885 |
Restricted Funds £ - 21,181 21,181 |
|---|---|---|
| MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds MTCBC - Summer of Fun ICF Sports Fund Winter Wellbeing Fund (MTCBC) EYIG Holiday Scheme Fund Comic Relief Fund The National Lottery The National Lottery (Top Up) EYIG Sports Fund Sports Club Grant Fund TOTAL FUNDS |
10. MOVEMENT IN FUNDS
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds MTCBC - Summer of Fun EYIG Holiday Scheme Fund Comic Relief Fund The National Lottery The National Lottery (Top Up) EYIG Sports Fund MTCBC - Cohesion Fund TOTAL FUNDS |
Incoming resources £ 125,781 2,307 - - 76,846 - - 3,000 82,153 207,934 |
Resources Movement expended in funds £ £ (35,689) 90,092 (2,337) (30) (240) (240) (8,558) (8,558) (83,593) (6,747) (19,091) (19,091) (360) (360) (3,000) - (117,179) (35,026) (152,868) 55,066 |
|---|---|---|
Restricted funds
Restricted funds represent balances held to fund future projects where the resources have been received and are required by the donors to fund a specific project.
Transfers between funds
Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects. The free reserves are available to provide funds to cashflow projects funded on a retrospective basis and are available with the approval of the trustees to fund any expenditure on projects or expenses which fall within the organisations general aims and objectives. They are accumulated in accordance with the reserve policy as stated in the Trustee Report.
Activities undertaken within each major restricted fund
The restricted funds of the charity have been applied during the year or are held for future expenditure in the following area:
Comic Relief
This funding is to support wage costs of the organisation.
Summer of Fun (MTCBC)
To help support and fund the provision of a holiday club and activities throughout the summer holidays.
Winter Wellbeing (MTCBC)
To help support and fund the provision of a holiday club and after school activities, throughout the winter of 2022.
National Lottery Community Fund (People and Places)
This funding is to support the organisations current play and youth facilities for children with specific and complex needs. The funding will enable the organisation to extend current opening times and increase the age range of current beneficiaries, increasing provision and offering additional support.
continued...
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BRIDGING THE GAP YOUTH - MERTHYR
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
10. MOVEMENT IN FUNDS - continued
MTCBC Community Cohesion Fund
This funding is to provide free sessions for children attending during the summer. Families we are working with are struggling with the cost of living. By providing free sessions for afterschool and holiday club we are enabling young people to attend regularly offering a free safe space and a free lunch/snack.
MTCBC Play schemes Fund
This funding is to support activity costs during the summer sessions.
11. RELATED PARTY DISCLOSURES
The Trustee and Treasurer Mrs S Jenkins's niece is employed by the charity. She was paid at rates commensurate with her position and in line with other members of staff. The appointment process was open and at arms length and the Trustees were fully informed of the relationship before the appointment.
Mrs S Jenkin's sister, is also a member of the Management Committee, which is an unpaid role. The Trustees were fully informed of the relationship before the appointment.
12. ULTIMATE CONTROLLING PARTY
The Charity is controlled by its Trustees.
13. GOING CONCERN
The trustees believe that the organisation's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the organisation's needs and that no material uncertainty exists.
14. GIFTS IN KIND
The value of volunteer time is not quantified in terms of money but the time contributed by volunteers is an invaluable resource in terms of the outstanding contribution made by them.
The number of hours contributed by volunteers in the year was approximately 195.
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BRIDGING THE GAP YOUTH - MERTHYR
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 11 MAY 2023 TO 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Grants Charitable activities After School & Holiday Club Other income Funds Introduced Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Other costs Support costs Other Rent Insurance Telephone Governance costs Independent Examiners Total resources expended Net income |
£ 82,153 48,302 77,479 207,934 110,200 303 960 29,788 141,251 8,914 549 54 9,517 2,100 152,868 55,066 |
|---|---|
This page does not form part of the statutory financial statements
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