-R\�%DNHU�)XQG
5HSRUWV� �$FFRXQWV )LQDQFLDO�<HDU�(QGLQJ�����������
&RQWHQWV
/HJDO� �$GPLQLVWUDWLYH�'HWDLOV 7UXVWHHV�5HSRUW ,QGHSHQGHQW�([DPLQHUV�5HSRUW 6WDWHPHQW�RI�)LQDQFLDO�$FWLYLWLHV 6WDWHPHQW�RI�)LQDQFLDO�3RVLWLRQ 1RWHV���$FFRXQWLQJ�3ROLFLHV 1RWHV���$QDO\VLV�RI�,QFRPH� �([SHQGLWXUH 1RWHV���$QDO\VLV�RI�1HW�$VVHWV�%HWZHHQ�)XQGV 1RWHV���2WKHU
�&UHDWHG�XVLQJ�([SHQVH3OXV
/HJDO� �$GPLQLVWUDWLYH�'HWDLOV
| &KDULW\1DPH� | -R\%DNHU)XQG |
|---|---|
| &KDULW\1XPEHU� | ������� |
| &KDULW\$GGUHVV� | ��/HRQDUG6WUHHW |
| %$512/'6:,&. | |
| /DQFDVKLUH | |
| %%���1/ | |
| 7UXVWHHV� | $QJHOD.HQQHG| |
| $QQ&KDUOHV | |
| %HYHUO\$GDPV | |
| -XOLHW(QJOLVK | |
| 5DKHO%HUPDQ | |
| .H\0DQDJHPHQW | 7KH7UXVWHHV� |
| 3HUVRQQHO� | |
| :HKDYHQRHPSOR\HGVWDe� | |
| 1DPH $GGUHVVRI | %DUFOD\V%DQNV |
| 3ULPDU\%DQNHU� | �&KXUFKLOO3ODFH |
| /RQGRQ | |
| (���+3 | |
| 1DPH $GGUHVVRI | 1�$ |
| 6ROLFLWRU� | |
| ,QGHSHQGHQW | )-$FFRXQWDQWV/WG |
| ([DPLQHU� | ��:HOEHFN5RDG |
| %ROVRYHU | |
| 6���11 |
7UXVWHHV�5HSRUW
2EMHFWV�RI�WKH�FKDULW\
7+(�5(/,()�2)�),1$1&,$/�+$5'6+,3�)25�c+20(�('8&$7,1d�)$0,/,(6� ,1&/8',1�7+26(�:+2�:,6+�72�+20(�('8&$7(�25�:+2 +$9(�+20(�('8&$7('�%((1�+20(�('8&$7(' �%<�)81',1�$&&(66�72�/($/�$'9,&(��$66,67$1&(��$1'�5(35(6(17$7,21 ,192/9,1�$�3$5(17d6�'87<�72�6(&85(�('8&$7,21�68,7$%/(�72�7+(,5�&+,/'d6�$(��$%,/,7<��$37,78'(�$1'�63(&,$/�('8&$7,21$/ 1(('6��:+(5(�3(56216�&28/'�127�27+(5:,6(�$))25'�7+(0�7+528*+�/$&.�2)�0($16�
72�$'9$1&(�7+(�('8&$7,21�2)�7+(�38%/,&�5($5',1�+20(�('8&$7,21�/$:��,1�3$57,&8/$5�7+(�/($/�)5$0(:25.�:+,&+ 81'(53,16�('8&$7,21�27+(5�7+$1�%<�$77(1'$1&(�$7�6&+22/��%<�3529,',1�5$176�72�27+(5�25$1,6$7,216��,1)250$7,21 72�7+(�38%/,&��$1'�%<�&200,66,21,1�5(6($5&+�$1'�38%/,6+,1�7+(�86()8/�5(68/76�2)�68&+�5(6($5&+�
6XPPDU\�RI�WKH�FKDULW\ V�PDLQ�DFWLYLWLHV�DQG�DFKLHYHPHQWV
7R�IXUWKHU�WKH�DERYH�REMHFWV�DQG�YLVLRQ��WKH�FKDULW\ V�PDLQ�DFWLYLWLHV�DQG�DFKLHYHPHQWV�ZHUH�DV�IROORZV�
-R\�%DNHU�)XQG���)LUVW�$QQXDO�7UXVWHHV �5HSRUW�����WK�0D\����������VW�2FWREHU������
$IWHU�VHYHUDO�\HDUV�RI�KDUG�ZRUN�EHKLQG�WKH�VFHQHV�DQG�D�PHHWLQJ�ZLWK�WKH�&KDULW\�&RPPLVVLRQ��ZH�ZHUH�GHOLJKWHG�WKDW�-R\�%DNHU�)XQG UHFHLYHG�LWV�UHJLVWUDWLRQ�DV�D�)RXQGDWLRQ�&,2�RQ���WK�0D\������
7KLV�fUVW� \HDU �RI�RSHUDWLRQ� WHFKQLFDOO\����PRQWKV�DV�RXU�fQDQFLDO�\HDU�HQG�LV�VHW�WR���VW�2FWREHU �KDV�VHHQ�WKH�FKDULW\�EHJLQ�WR�VHW�XS DOO�WKH�SROLFLHV��SURFHGXUHV�DQG�V\VWHPV�ZKLFK�ZLOO�SURYLGH�VWURQJ�IRXQGDWLRQV�IRU�LWV�IXWXUH�
7KH�fUVW�IHZ�PRQWKV�JRW�Re�WR�D�YHU\�IUXVWUDWLQJ�VWDUW�DV�%DUFOD\V�%DQN�PDGH�D�QXPEHU�RI�HUURUV�DQG�GHOD\V��ZKLFK�PHDQW�ZH�ZHUH ZLWKRXW�D�EDQN�DFFRXQW���DQG�WKHUHIRUH�XQDEOH�WR�IXQGUDLVH���IRU�PDQ\�PRQWKV�
2QFH�WKLV�ZDV�HYHQWXDOO\�HVWDEOLVKHG��WKH�7UXVWHHV�KDYH�ZRUNHG�WR�FUHDWH�JRRG�fQDQFLDO�V\VWHPV��LQFOXGLQJ�LQYHVWLQJ�LQ�WKH ([SHQVH3OXV�V\VWHP�WR�HQVXUH�fQDQFLDO�WUDQVSDUHQF\��:H�KDYH�DOVR�EHJXQ�WKH�ZRUN�RI�FUHDWLQJ�YDULRXV�SROLFLHV�DQG�SURFHGXUHV UHFRPPHQGHG�E\�WKH�&KDULW\�&RPPLVVLRQ��DQG�DUH�JUDWHIXO�WR�6PDOO�&KDULW\�6XSSRUW�IRU�WKHLU�WHPSODWHV�ZKLFK�KDYH�VDYHG�FRXQWOHVV KRXUV�RI�KHDG�VFUDWFKLQJ�
:H�DUH�QRW�\HW�LQ�WKH�SRVLWLRQ�WR�JLYH�RXW�JUDQWV�DV�ZH�VWLOO�QHHG�WR�UDLVH�PRUH�PRQH\�WR�KDYH�HQRXJK�LQ�WKH�SRW�WR�GLVWULEXWH��7KLV�ZRUN ZLOO�FRQWLQXH�LQWR�QH[W�\HDU�
7KH�FKDULW\�7UXVWHHV�DQG�YROXQWHHUV�KDYH�EHHQ�KDUG�DW�ZRUN�WR�XSGDWH�WKH�KRPH�HGXFDWLRQ�FRPPXQLW\�DERXW�WKH�H[LVWHQFH�RI�WKH FKDULW\�DQG�LWV�DLPV��7KLV�LV�SDUW�RI�RXU�2EMHFW�WR�DGYDQFH�WKH�HGXFDWLRQ�RI�WKH�SXEOLF�UHJDUGLQJ�KRPH�HGXFDWLRQ�ODZ�
$�PHPRUDQGXP�RI�XQGHUVWDQGLQJ�KDV�EHHQ�VLJQHG�ZLWK�+RPH�(GXFDWLRQ�/DZ�3URMHFW� +(/3 ��DQG�DORQJVLGH�+(/3�YROXQWHHUV�ZH�JDYH MRLQW�SUHVHQWDWLRQV�DW�WKH�IROORZLQJ�HYHQWV�DQG�FRQIHUHQFHV�LQ�RUGHU�WR�UDLVH�DZDUHQHVV��VXSSRUW���DQG�KRSHIXOO\��IXQGV�
/HDUQ�)UHH�RQOLQH�[�� �����DQG����� ���KRPH�HGXFDWLQJ�IDPLOLHV�DQG�H[SHUWV�IURP�DFURVV�WKH�8.��3RWHQWLDO�7UXVW�ZHHNHQG��%LFHVWHU� 2FWREHU��������DOWHUQDWLYH�HGXFDWLRQ�H[SHUWV�DQG�UHVHDUFKHUV�IURP�DFURVV�WKH�8.��+())� +RPH�(GXFDWLQJ�)DPLOLHV�)HVWLYDO �[���� 6WDeRUGVKLUH�� $XJXVW������DQG����� ���KRPH�HGXFDWLQJ�IDPLOLHV�IURP�DFURVV�WKH�8.��+(;���OREDO�+RPH�(GXFDWLRQ�([FKDQJH� 0DQFKHVWHU���-XO\��������KRPH�HGXFDWLQJ�DQG�KRPH�VFKRROLQJ�IDPLOLHV�IURP�DURXQG�WKH�ZRUOG��LQFOXGLQJ�8.��86$��8$(��DQG�PDQ\ (XURSHDQ�DQG�6RXWK�(DVW�$VLDQ�FRXQWULHV�
:H�KDYH�DOVR�HQJDJHG�ZLWK�WKH�KRPH�HGXFDWLRQ�FRPPXQLW\�RQ�VRFLDO�PHGLD��LQFOXGLQJ�JLYLQJ�XSGDWHV�DERXW�RXU�FKDULW\�DQG�LWV�SURJUHVV LQ�WKH�+RPH�(GXFDWLRQ�$FWLRQ�*URXS�RQ�)DFHERRN�
:H�DOVR�HVWDEOLVKHG�DQ�RQOLQH�GRQDWLRQV�SRUWDO�YLD�/RYHLYLQJ�DQG� VRIW�ODXQFKHG �LW�DW�WKH�+RPH�(GXFDWLQJ�)DPLOLHV �)HVWLYDO� +()) �LQ $XJXVW������DQG�fOOHG�LQ�PXOWLSOH�FRSLHV�RI�IRUPV�IURP�+05&�WR�UHJLVWHU�IRU�LIW�$LG�
:H�DUH�JUDWHIXO�WR�DOO�RXU�YROXQWHHUV�DQG�WUXVWHHV�DQG�HYHU\RQH�ZKR�KDV�VXSSRUWHG�XV�RYHU�WKH�ODVW�\HDU� DQG�DOO�ZKR�ZLOO�GR�VR�LQ�WKH \HDUV�WR�FRPH �
,Q�SODQQLQJ�WKH�DFWLYLWLHV��WKH�WUXVWHHV�KDYH�DSSOLHG�WKH�JXLGDQFH�RQ�SXEOLF�EHQHfW�LVVXHG�E\�WKH�&KDULW\�&RPPLVVLRQ�
6WUXFWXUH��*RYHUQDQFH�DQG�0DQDJHPHQW
7KH�FKDULW\�LV�D�)RXQGDWLRQ�&,2� &KDULWDEOH�,QFRUSRUDWHG�2UJDQLVDWLRQ ��7KLV�PHDQV�LW�LV�PDQDJHG�DQG�UXQ�E\�LWV� YROXQWHHU �7UXVWHHV�
$�FRS\�RI�WKH�IXOO�JRYHUQLQJ�GRFXPHQW�PD\�EH�VXSSOLHG�RQ�UHTXHVW�
'XULQJ�WKH�SHULRG�EHLQJ�UHSRUWHG��WKHUH�ZHUH�fYH�7UXVWHHV�
7KH�FKDULW\�HPSOR\V�QR�VWDe�
7KH�FKDULW\�KDV�VRPH�QRQ�WUXVWHH�YROXQWHHUV�
7KH�7UXVWHHV�PHHW�PRQWKO\�WR�GLVFXVV�FKDULW\�EXVLQHVV�DQG�UHYLHZ�fQDQFHV�
$V�-R\�%DNHU�)XQG�LV�D�QHZ�FKDULW\��ZH�DUH�VWLOO�ZRUNLQJ�WR�EXLOG�VRPH�RI�RXU�SROLFLHV�DQG�SURFHGXUHV�
)LQDQFLDO�5HYLHZ
7KLV�ZDV�RXU�fUVW�\HDU�RI�RSHUDWLRQ�
7KH�FKDULW\�UHFHLYHG�DQ�LQFRPH�RI�b���� DOO�fJXUHV�URXQGHG �
7KLV�FRQVLVWHG�RI�D�VLJQLfFDQW�QXPEHU�RI� DSRORJ\ �SD\PHQWV�IURP�%DUFOD\V�%DQN�IRU�IDLOXUHV�WKDW�RFFXUUHG�LQ�VHWWLQJ�XS�RXU�DFFRXQWV� GRQDWLRQV�IURP�7XWRUV�DQG�([DPV�DQG�+RPH�(GXFDWLRQ�/DZ�3URMHFW�DQG�VRPH�LQGLYLGXDO�RQH�Re�GRQDWLRQV�
We set up the,LoveGin4, lottorrn and qualified forb charity accgunt Vlrth 5¢rtpe. We hope this wlll make domting to the ch•rfty a smoother Èxpenence for supporters In the fulure. We rn9lsteTed for GIftd and received É13.75 as a res of the xheme. Tht chaFty5 t¢¢èl expmdlture durtng the yearwas £105. Thls malnly consisieo o15tation ocessirKJ donations •nd the Cos and postaoe typenses for sendiNJ phy51cally4gnel lomis to bank and MMRC. platfomi lees for of our 8ic¢unttng soft4¥are. Ir surplus ar the end ol the yÈar¥Aa5 £633. The charity does not yet hove enough money to hand tyjt grants a5 the Trustees have deteThlned S)Uld be a £5000 minimum in the grant wt. due to the experted costs of legal ad¥lce grants. Initial funds are bein used to establlsh we should ensure a ffrmkn for the organlsotlon's lnfrjstnjctu costs, for example ¥vebslte hosttng èrKI accounilng software. Th6 ture. The TN#ees have ats4 dddéd to use Exptn5eWus soAware to rnana9e thelrtha ItFKwgh it h&5 rnore features than are ld forthe relatlvely low tumover frorn which to grow. tttyJnUng. This ensures thwp 1$ fvm transparency the year. rt wlll glve the charity o good bast FuTrJs Dtficlt tIlA ¢ve$tments Polky NIA Reserves Mlcy The charity ahns trtr hold • M4muM of £IQOO IwhKh Li wroxirnately 12.24 months of eXpdItuT) 0$ unrostrkted cash, $0 Ihat tt £h•rft 01£6 cujkl confjnue to oFernte should In¢L and i tsr expendlture vary adversely. At the yearend. the charfty htld unrèstricted cash ResponsilItIeS of Trustees unoer charity18W The trustee5 ère re5¢¥Jn5Ible for prepaAn and Unlted ngdoM kcounknrKJ Standa the tnjstees. annual report and the financial statsments lo ac£ordance applkable s Iunlted }dorn GeneTrlty Accepted Accoufitiny Proctlcel. Charl theè law feouires the tnJstee5 to prepare financial statements for eich fi'narKlal year whlch glve a true and falr vie¥¥ 01 the slate of air5 of the chary as ht the balae sheet date and of its incornin9 resources and èpWlc¥Uon of resources. IlUding income and expenditure. for the financlal year. In preparsng these ftnanciil statements. the trustses are requlrtd to.. l. select 5Ultatde accountlng polkles and wly them consistendy.. 2. observe the methods and principk5 In the Charllies SORP.. rnake luttgements and estimates that art reasonatrAe ènd prudent., 4. state whether ihe applicèble accounllng standèrds have been followed. sublert to any material dewrtures dtsck)sed aTh1 explained In the finani+•l statements,. aNJ 5, ppare the fina14 statements on a goln9 concern bjsls unle55 It Ls InappropriJte to wesume that the charity wll Coftilrwe in operatlon. The trustees are reswi$lb for keepiThJ yoper accounti nd enable them to ensure thal Ihe corf$ that d15c¢Dse wlth acwracy at an time the Ilnan(lal Accounts and Aepo nantlal statements compl wlth the ChoritVè5 Act 201 l Regulètion$ 2008. The ore also responsible for safeguardlng l and the Charfty reasonable steps for the prevention and detecli(w) of fraud and other irregularirifrs. he 05Stt5 of the charity and l>ence for taking SWatu This report W05 èpyoved by the trustees, a•bJ Ls on their hall by.. LWLE5
,QGHSHQGHQW�([DPLQHUV�5HSRUW
,�UHSRUW�WR�WKH�WUXVWHHV�RQ�P\�H[DPLQDWLRQ�RI�WKH�DFFRXQWV�RI�-R\�%DNHU�)XQG� WKH�FKDULW\ �IRU�WKH�\HDU�HQGHG������������
5HVSRQVLELOLWLHV�DQG�%DVLV�RI�5HSRUW
$V�WKH�WUXVWHHV�RI�WKH�FKDULW\�\RX�DUH�UHVSRQVLEOH�IRU�WKH�SUHSDUDWLRQ�RI�WKH�DFFRXQWV�LQ�DFFRUGDQFH�ZLWK�WKH�UHTXLUHPHQWV�RI�WKH &KDULWLHV�$FW������ cWKH������$FWd �
,�UHSRUW�LQ�UHVSHFW�RI�P\�H[DPLQDWLRQ�RI�WKH�FKDULW\dV�DFFRXQWV�FDUULHG�RXW�XQGHU�VHFWLRQ�����RI�WKH������$FW�DQG�LQ�FDUU\LQJ�RXW�P\ H[DPLQDWLRQ�,�KDYH�IROORZHG�DOO�WKH�DSSOLFDEOH�'LUHFWLRQV�JLYHQ�E\�WKH�&KDULW\�&RPPLVVLRQ�XQGHU�VHFWLRQ���� � E �RI�WKH������$FW�
,QGHSHQGHQW�([DPLQHUV�4XDOLfFDWLRQ
,�FRQfUP�WKDW�,�DP�TXDOLfHG�WR�XQGHUWDNH�WKH�H[DPLQDWLRQ�EHFDXVH�,�DP�D�3UDFWLVLQJ�$FFRXQWDQW�UHJXODWHG�E\�+05&�VXSHUYLVLRQ��$V�WKH &KDULW\�KDV�JURVV�DQQXDO�LQFRPH�XQGHU�b���������,�KDYH�WKH�QHFHVVDU\�VNLOOV�DQG�H[SHULHQFH�WR�DFW�DV�DQ�,QGHSHQGHQW�([DPLQHU�
,QGHSHQGHQW�([DPLQHUdV�6WDWHPHQW
,�KDYH�FRPSOHWHG�P\�H[DPLQDWLRQ��,�FRQfUP�WKDW�QR�PDWHULDO�PDWWHUV�KDYH�FRPH�WR�P\�DWWHQWLRQ�LQ�FRQQHFWLRQ�ZLWK�WKH�H[DPLQDWLRQ JLYLQJ�PH�FDXVH�WR�EHOLHYH�WKDW�LQ�DQ\�PDWHULDO�UHVSHFW�
- �� DFFRXQWLQJ�UHFRUGV�ZHUH�QRW�NHSW�LQ�DFFRUGDQFH�ZLWK�VHFWLRQ�����RI�WKH������$FW��RU
�� WKH�DFFRXQWV�GR�QRW�DFFRUG�ZLWK�WKH�DFFRXQWLQJ�UHFRUGV�
,�KDYH�QR�FRQFHUQV�DQG�KDYH�FRPH�DFURVV�QR�RWKHU�PDWWHUV�LQ�FRQQHFWLRQ�ZLWK�WKH�H[DPLQDWLRQ�WR�ZKLFK�DWWHQWLRQ�VKRXOG�EH�GUDZQ�LQ RUGHU�WR�HQDEOH�D�SURSHU�XQGHUVWDQGLQJ�RI�WKH�DFFRXQWV�WR�EH�UHDFKHG�
,QGHSHQGHQW�([DPLQHUdV�'HWDLOV
1DPH� )-�$FFRXQWDQWV�/WG $GGUHVV� ���:HOEHFN�5RDG %ROVRYHU 6����11
1DPH 6LJQDWXUH 'DWH
301071202S, 07..22 ExpensePIus ExpensePIus Report Independent Examiner, s Report (Signed I Financial Year 202312024 reoorl ro tli e tru5tee5 on my e¥2mipation of the accoufits olloy Bakef FiJnd I'the (.hd(iiyI +or Ihe year endoo 411101?Od RespDnsibilltle5 and 8a5t5 of Report Asthetrustees ofthediarityyou are rEiblelor the preparaiion 0(theacconE$4n COrdan th Lhe requirementsolthe Chantie5ACt 2011 Ithe 2011 I rerI In r¥peoofmy wAaiYL4nati ofthe Iharivs accounts carried oui under seciort 145 Dfthp 2011 A¢1 and In c3riwng Outmy exam1TiatvJn I haE folbwed IlthèapploboIreIis¥1VeTh bylhe CharilyCommi%siDn under 5e.¢tIDn 1495N.bl DfthE2011 *1. Independent Examinèr's oyallfltatlon Ilf oppli¢oL)lei I conlirm tliatl 3FYigualilied to ufidertake the examifiation because l am a Pra¢risifhg kcoLJntanr reEusated by HklRC supervison. Asthe Char4W hasgro% annual income ynder £250.OCQ. l the nece55èry5killsand exporienco io Independeni examiner. Indep&ndent EXaTniner's Statement I liavP. CoinpleiÈd ITlb pxaihln&cTr I confirm thaE noterIal h3vEcrNnetO Tnyattention in connectirffl Wdih It exatnlnaDDD wing me cause to belleve that in 47ry mareft)I respett. 1.4¢couniin8rocord5werE kt In accordDrbco 5e(tion 130olthe 2011 ACL or 2. theaccouDESdG noi accord 4Yith the aciounting records I have no concern% and htvF oiher matters iTrconnectroDyéith Iheexafnination rowhich attenLion should be drayffl ID older 10 enèble a proper undersiandiThgof EhÈ aCfOUnEStD be rea(hed. Indepentlent Examiner's Deta115 26Welbeckknd )Isover S44 6MN Signature Name ItD be entered once prinie(11 Slgwivrello be sigfftd once printed) Date (to be entered once princedl 30111 zr hlty)s'.1l8xp8tepIUs.u}.uk1thantyfyF8r-ed-aoUntsl19rnaWrr2o2$O1ldate/2O24-1o-3t 112
6WDWHPHQW�RI�)LQDQFLDO�$FWLYLWLHV
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | 3ULRU<HDU | |
|---|---|---|---|---|
| ,QFRPLQJ5HVRXUFHV | ||||
| 'RQDWLRQV /HJDFLHV | ��� | � | ��� | � |
| &KDULWDEOH$FWLYLWLHV | � | � | � | � |
| ,QYHVWPHQWV | � | � | � | � |
| 7UDGLQJ$FWLYLWLHV | � | � | � | � |
| 2WKHU | � | � | � | � |
| 7RWDOLQFRPLQJUHVRXUFHV | ��� | � | ��� | � |
| 5HVRXUFHV8VHG | ||||
| &KDULWDEOH$FWLYLWLHV | ��� | � | ��� | � |
| 5DLVLQJ)XQGV | � | � | � | � |
| *RYHUQDQFH&RVWV | � | � | � | � |
| 6XSSRUW | � | � | � | � |
| 2WKHU | � | � | � | � |
| 7RWDOUHVRXUFHVXVHG | ��� | � | ��� | � |
| 1HW,QFRPLQJ�2XWJRLQJ5HVRXUFHV EHIRUHWUDQVIHUV | ��� | � | ��� | � |
| )XQG7UDQVIHUV,Q | � | � | � | � |
| )XQG7UDQVIHUV2XW | � | � | � | � |
| 1HW,QFRPLQJ�2XWJRLQJ5HVRXUFHV EHIRUHJDLQV�ORVVHV | ��� | � | ��� | � |
| ,QYHVWPHQW*DLQV RU/RVVHV | � | � | � | � |
| 1HW,QFRPLQJ�2XWJRLQJ5HVRXUFHV EHIRUH$VVHW5HYDOXDWLRQ | ��� | � | ��� | � |
| $VVHW5HYDOXDWLRQ | � | � | � | � |
| 1HW0RYHPHQWRI)XQGV | ��� | � | ��� | � |
| 7RWDO)XQGV%URXJKW)RUZDUG | � | � | � | � |
| 7RWDO)XQGV&DUULHG)RUZDUG | ��� | � | ��� | � |
| 5HSUHVHQWHG%| | ||||
| *HQHUDO 8QUHVWULFWHG | ��� | � | ��� | � |
Ststement of Financial Position C45 Ac<¢urtSAE(vèb 632 6)2 p}ymnts T11 CurfftA 633 kn(u¢As5e Fiz•JAS*s kithJrtS P•yit+o Cuirerrt 000 633 RtpreS£nthoey 133 SkJnatUfe These accounts have been approved by the tNStees. and are slgned on thelr behalf by.. C ¥KLgs 12111292f
1RWHV���$FFRXQWLQJ�3ROLFLHV
%DVLV�RI�3UHSDUDWLRQ
7KHVH�DFFRXQWV�DUH�SUHSDUHG�RQ�DQ�$FFUXDOV�EDVLV�
:H�KDYH�XVHG�WKH�([SHQVH3OXV�VRIWZDUH�V\VWHP�WR�HQVXUH�FRPSOLDQFH�ZLWK�6253�)56�����
)LJXUHV�KDYH�EHHQ�DXWRPDWLFDOO\�URXQGHG�WR�WKH�QHDUHVW�b�
$V�WKLV�LV�WKH�fUVW�\HDU�RI�RXU�RSHUDWLRQ��WKH�DFFRXQWV�JR�IURP�RXU�&KDULW\�UHJLVWUDWLRQ�GDWH� ��WK�0D\����� �WR���VW�2FWREHU������ ��VW 2FWREHU�ZLOO�EH�RXU�VWDQGDUG�\HDU�HQG �
7KHVH�fQDQFLDO�VWDWHPHQWV�KDYH�EHHQ�SUHSDUHG�LQ�DFFRUGDQFH�ZLWK�WKH��6WDWHPHQW�RI�5HFRPPHQGHG�3UDFWLFH��$FFRXQWLQJ�DQG 5HSRUWLQJ�E\�&KDULWLHV�SUHSDULQJ�WKHLU�DFFRXQWV�LQ�DFFRUGDQFH�ZLWK�WKH�)LQDQFLDO�5HSRUWLQJ�6WDQGDUG�DSSOLFDEOH�LQ�WKH�8.�DQG�5HSXEOLF RI�,UHODQG� )56���� � �WKH�&KDULWLHV�6253� ��ZLWK�WKH�)LQDQFLDO�5HSRUWLQJ�6WDQGDUG�DSSOLFDEOH�LQ�WKH�8QLWHG�.LQJGRP�DQG�5HSXEOLF�RI ,UHODQG� �)56����� �DQG�ZLWK�WKH�&KDULWLHV�$FW�������7KH�FKDULW\�PHHWV�WKH�GHfQLWLRQ�RI�D�SXEOLF�EHQHfW�HQWLW\�DV�VHW�RXW�LQ�)56�����
7KH�&KDULWLHV� $FFRXQWV�DQG�5HSRUWV �5HJXODWLRQV������ WKH� �����5HJXODWLRQV �UHTXLUHV�FKDULWLHV�WR�SUHSDUH�WKHLU�DFFRXQWV�LQ DFFRUGDQFH�ZLWK� $FFRXQWLQJ�DQG�5HSRUWLQJ�E\�&KDULWLHV��6WDWHPHQW�RI�5HFRPPHQGHG�3UDFWLFH�HeHFWLYH�IURP���$SULO����� �EXW�WKLV DFFRXQWLQJ�VWDQGDUG�KDV�VLQFH�EHHQ�ZLWKGUDZQ�DQG�KDV�EHHQ�UHSODFHG�E\�WKH�&KDULWLHV�6253�PHQWLRQHG�LQ�WKH�SUHFHGLQJ�SDUDJUDSK� 7KH�FKDULW\�KDV�SUHSDUHG�WKHVH�fQDQFLDO�VWDWHPHQWV�LQ�DFFRUGDQFH�ZLWK�WKH�QHZ�&KDULWLHV�6253��WKLV�GHSDUWXUH�IURP�WKH����� 5HJXODWLRQV�LV�EHOLHYHG�WR�EH�QHFHVVDU\�IRU�WKHVH�fQDQFLDO�VWDWHPHQWV�WR�JLYH�D� WUXH�DQG�IDLU�YLHZ �
7KH�SULQFLSOHV�DGRSWHG�LQ�WKH�SUHSDUDWLRQ�RI�WKH�fQDQFLDO�VWDWHPHQWV�DUH�VHW�RXW�LQ�WKH�DFFRXQWLQJ�SROLFLHV�EHORZ�
*RLQJ�&RQFHUQ
7KH�7UXVWHHV�RI�-R\�%DNHU�)XQG�FRQVLGHU�WKH�FKDULW\�WR�EH�D�JRLQJ�FRQFHUQ�DW�WKH�WLPH�RI�DSSURYLQJ�WKH�DFFRXQWV��7KH\�IRUHVHH�WKDW�WKH FKDULW\�ZLOO�FRQWLQXH�WR�EH�D�JRLQJ�FRQFHUQ�LQ�WKH�\HDU�DKHDG�DQG�DUH�XQDZDUH�RI�DQ\�PDWHULDO�ULVNV�ZKLFK�ZRXOG�SUHYHQW�WKLV�
.H\�5LVNV� �8QFHUWDLQWLHV
7KH�FKDULW\�LV�H[SRVHG�WR�YDULRXV�ULVNV��LQFOXGLQJ�RSHUDWLRQDO��fQDQFLDO�DQG�UHSXWDWLRQDO�ULVNV��7KH�WUXVWHHV�UHYLHZ�WKH�FKDULW\ V�DFWLYLWLHV UHJXODUO\�WR�LGHQWLI\�VLJQLfFDQW�ULVNV�DQG��ZKHUH�SRVVLEOH��WKH\�WDNH�DSSURSULDWH�PHDVXUHV�WR�PLWLJDWH�WKRVH�ULVNV�
)XQG�$FFRXQWLQJ
7KH�FKDULW\�GRHV�QRW�KDYH�DQ\�UHVWULFWHG�IXQGV�DW�SUHVHQW��,W�KDV�D�*HQHUDO� XQUHVWULFWHG �IXQG��ZKLFK�PD\�EH�XVHG�IRU�DQ\�SXUSRVH UHODWHG�WR�WKH�FKDULW\��LQFOXGLQJ�DGPLQLVWUDWLRQ�
8QUHVWULFWHG�LQFRPH�IXQGV�FRPSULVH�WKRVH�IXQGV�ZKLFK�WKH�WUXVWHHV�DUH�IUHH�WR�XVH�IRU�DQ\�SXUSRVH�LQ�IXUWKHUDQFH�RI�WKH�FKDULWDEOH REMHFWV��8QUHVWULFWHG�IXQGV�LQFOXGH�GHVLJQDWHG�IXQGV�ZKHUH�WKH�WUXVWHHV��DW�WKHLU�GLVFUHWLRQ��KDYH�VHW�DVLGH�UHVRXUFHV�IRU�D�VSHFLfF SXUSRVH��5HVWULFWHG�IXQGV�DUH�IXQGV�ZKLFK�DUH�WR�EH�XVHG�LQ�DFFRUGDQFH�ZLWK�VSHFLfF�UHVWULFWLRQV�LPSRVHG�E\�WKH�GRQRU�RU�WKH�WHUP�RI VSHFLfF�DSSHDO��)XUWKHU�H[SODQDWLRQ�RI�WKH�QDWXUH�DQG�SXUSRVH�RI�HDFK�IXQG�LV�LQFOXGHG�LQ�WKH�QRWHV�WR�WKH�DFFRXQWV�
,QFRPLQJ�5HVRXUFHV
$OO�LQFRPLQJ�UHVRXUFHV�DUH�UHFRJQLVHG�RQFH�WKH�FKDULW\�KDV�HQWLWOHPHQW�WR�WKH�UHVRXUFHV��LW�LV�SUREDEOH�WKDW�WKH�UHVRXUFHV�ZLOO�EH UHFHLYHG��DQG�WKH�PRQHWDU\�YDOXH�RI�LQFRPLQJ�UHVRXUFHV�FDQ�EH�PHDVXUHG�ZLWK�VXhFLHQW�UHOLDELOLW\�
-
$OO�YROXQWDU\�LQFRPH�IURP�PHPEHUV�RI�WKH�FKDULW\�DUH�UHFRJQLVHG�DV�GRQDWLRQV�DQG�DUH�LQFOXGHG�LQ�IXOO��ZLWK�DVVRFLDWHG�*LIW�$LG UHFHLYDEOH�LQ�WKH�6WDWHPHQW�RI�)LQDQFLDO�$FWLYLWLHV�
-
*UDQWV�ZKHUH�HQWLWOHPHQW�LV�QRW�FRQGLWLRQDO�RQ�WKH�GHOLYHU\�RI�VSHFLfF�SHUIRUPDQFH�E\�WKH�FKDULW\�DUH�UHFRJQLVHG�ZKHQ�WKH FKDULW\�EHFRPHV�XQFRQGLWLRQDOO\�HQWLWOHG�WR�WKH�JUDQW�
-
,QFRPH�UHVRXUFHV�IURP�FKDULWDEOH�WUDGLQJ�DFWLYLWLHV�VXFK�DV�WKH�OHWWLQJ�RI�WKH�EXLOGLQJ�DUH�DFFRXQWHG�IRU�ZKHQ�LQYRLFHV�DUH�GUDZQ XS� DV�DW�WKH�SRLQW�RI�HQWLWOHPHQW �
-
'RQDWHG�VHUYLFHV�DQG�IDFLOLWLHV�DUH�LQFOXGHG�DW�WKH�YDOXH�WR�WKH�FKDULW\�ZKHUH�WKLV�FDQ�EH�TXDQWLfHG�
-
*LIWV�LQ�.LQG�DUH�DFFRXQWHG�IRU�DW�D�UHDVRQDEOH�HVWLPDWH�RI�WKHLU�YDOXH�WR�WKH�FKDULW\�RU�WKH�DPRXQW�DFWXDOO\�UHDOLVHG�
-
9ROXQWHHU�WLPH��WKH�YDOXH�RI�YROXQWDU\�VXSSRUW�IRU�WKH�ZRUN�RI�WKH�FKDULW\��LV�QRW�LQFOXGHG�LQ�WKH�DFFRXQWV�EXW�LV�GHVFULEHG�LQ�WKH 7UXVWHHV�$QQXDO�5HSRUW�
-
,QYHVWPHQW�,QFRPH�LV�LQFOXGHG�LQ�WKH�DFFRXQWV�ZKHQ�UHFHLYDEOH
5HVRXUFHV�([SHQGHG
([SHQGLWXUH�LV�UHFRJQLVHG�RQ�DQ�DFFUXDO�EDVLV�DV�D�OLDELOLW\�LV�LQFXUUHG��/LDELOLWLHV�DUH�UHFRJQLHG�ZKHUH�LW�LV�PRUH�OLNHO\�WKDQ�QRW�WKDW WKHUH�LV�D�OHJDO�RU�FRQVWUXFWLYH�REOLJDWLRQ�FRPPLWWLQJ�WKH�FKDULW\�WR�SD\�RXW�WKH�UHVRXUFHV�DQG�WKH�DPRXQW�RI�WKH�REOLJDWLRQ�FDQ�EH PHDVXUHG�ZLWK�UHDVRQDEOH�FHUWDLQW\�
*RYHUQDQFH�&RVWV
RYHUQDQFH�FRVWV�LQFOXGH�FRVWV�DVVRFLDWHG�ZLWK�WKH�LQGHSHQGHQW�H[DPLQDWLRQ�RI�WKH�fQDQFLDO�VWDWHPHQWV��FRPSOLDQFH�ZLWK FRQVWLWXWLRQDO�DQG�VWDWXWRU\�UHTXLUHPHQWV�DQG�DQ\�RWKHU�H[SHQGLWXUH�LQFXUUHG�RQ�WKH�VWUDWHJLF�PDQDJHPHQW�RI�WKH�FKDULW\��RYHUQDQFH
FRVWV�DUH�VKRZQ�ZLWKLQ�c$QDO\VLV�RI�([SHQGLWXUHd�QRWH�
/LDELOLW\�5HFRJQLWLRQ
/LDELOLWLHV�DUH�UHFRJQLVHG�DV�VRRQ�DV�WKHUH�LV�D�OHJDO�RU�FRQVWUXFWLYH�REOLJDWLRQ�FRPPLWWLQJ�WKH�FKDULW\�WR�SD\�RXW�UHVRXUFHV�
7DQJLEOH�)L[HG�$VVHWV
1RQH�
3HQVLRQV
1�$
2SHUDWLQJ�/HDVHV
1�$
7D[DWLRQ
7KH�FKDULW\�LV�H[HPSW�IURP�WD[�RQ�LWV�FKDULWDEOH�DFWLYLWLHV��7KH�FKDULW\�LV�UHJLVWHUHG�WR�FODLP�*LIW�$LG�IURP�+05&��7KH�FKDULW\�LV�QRW�9$7 UHJLVWHUHG�
-XGJHPHQWV�DQG�.H\�6RXUFHV�RI�(VWLPDWLRQ
7KH�WUXVWHHV�GR�QRW�FRQVLGHU�WKDW�WKHUH�DUH�DQ\�PDWHULDO�VRXUFHV�RI�HVWLPDWLRQ�RU�XQFHUWDLQW\�DW�WKH�EDODQFH�VKHHW�GDWH�WKDW�FRXOG�UHVXOW LQ�D�PDWHULDO�DGMXVWPHQW�WR�WKH�FDUU\LQJ�YDOXHV�RI�DVVHWV�DQG�OLDELOLWLHV�LQ�WKH�QH[W�UHSRUWLQJ�SHULRG�
,Q�SUHSDULQJ�fQDQFLDO�VWDWHPHQWV�FHUWDLQ�MXGJHPHQWV��HVWLPDWHV�DQG�DVVXPSWLRQV�KDYH�WR�EH�PDGH�WKDW�DeHFW�WKH�DPRXQWV�UHFRJQLVHG LQ�WKH�fQDQFLDO�VWDWHPHQWV��7KH�WUXVWHHV�FRQVLGHU�WKH�IROORZLQJ�WR�EH�VLJQLfFDQW�
7KH�DQQXDO�GHSUHFLDWLRQ�FKDUJH�IRU�SURSHUW\��SODQW�DQG�HTXLSPHQW�LV�VHQVLWLYH�WR�FKDQJHV�LQ�WKH�HVWLPDWHV�IRU�XVHIXO�HFRQRPLF OLIH�DQG�UHVLGXDO�YDOXH��7KHVH�HVWLPDWHV�DUH�UHDVVHVVHG�DQQXDOO\�DQG��ZKHQ�QHFHVVDU\��DGMXVWHG�WR�UHgHFW�FXUUHQW FLUFXPVWDQFHV�
7KH�FRQVWUXFWLYH�REOLJDWLRQ�IRU�JUDQWV�SD\DEOH�LV�EDVHG�RQ�DQ�DVVHVVPHQW�RI�WKH�OLNHO\�GXUDWLRQ�RI�WKH�VXSSRUWHG�DFWLYLW\��7KLV HVWLPDWH�LV�UH�DVVHVVHG�DQQXDOO\�DQG�WKH�REOLJDWLRQ�LV�DGMXVWHG�WR�UHgHFW�FXUUHQW�H[SHFWDWLRQV�
&RQFHVVLRQDU\�/RDQV
1�$
1RWHV���$QDO\VLV�RI�,QFRPH� �([SHQGLWXUH
$QDO\VLV�RI�,QFRPH
&XUUHQW�<HDU
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
|---|---|---|---|
| ,QFRPLQJ5HVRXUFHV | |||
| 'RQDWLRQV /HJDFLHV | |||
| 'RQDWLRQV | ��� | � | ��� |
| *LIW$LG | �� | � | �� |
| *UDQWV | � | � | � |
| &KDULWDEOH$FWLYLWLHV | |||
| (YHQW,QFRPH | � | � | � |
| ,QYHVWPHQWV | |||
| %DQN,QWHUHVW | � | � | � |
| 7UDGLQJ$FWLYLWLHV | |||
| 5HQWDO,QFRPH | � | � | � |
| 6DOHV | � | � | � |
| 2WKHU | |||
| 2WKHU,QFRPH | � | � | � |
| 7RWDOLQFRPLQJUHVRXUFHV | ��� | � | ��� |
3ULRU�<HDU
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
|---|---|---|---|
| ,QFRPLQJ5HVRXUFHV | |||
| 'RQDWLRQV /HJDFLHV | |||
| 'RQDWLRQV | � | � | � |
| *LIW$LG | � | � | � |
| *UDQWV | � | � | � |
| &KDULWDEOH$FWLYLWLHV | |||
| (YHQW,QFRPH | � | � | � |
| ,QYHVWPHQWV | |||
| %DQN,QWHUHVW | � | � | � |
| 7UDGLQJ$FWLYLWLHV | |||
| 5HQWDO,QFRPH | � | � | � |
| 6DOHV | � | � | � |
| 2WKHU | |||
| 2WKHU,QFRPH | � | � | � |
| 7RWDOLQFRPLQJUHVRXUFHV | � | � | � |
$GGLWLRQDO�,QFRPH�1RWHV
2XU�ODUJHVW�VRXUFH�RI�LQFRPH�WKLV�\HDU�ZDV�IURP�DSRORJ\�SD\PHQWV�IURP�%DUFOD\V�%DQN�IRU�WKH�PXOWLSOH�HUURUV�DQG�GHOD\V�FDXVHG�ZKHQ VHWWLQJ�XS�RXU�DFFRXQWV�
:H�ZHUH�DOVR�JUDWHIXO�WR�UHFHLYH�GRQDWLRQV�IURP�+RPH�(GXFDWLRQ�/DZ�3URMHFW�DV�ZHOO�DV�IURP�LQGLYLGXDO�KRPH�HGXFDWRUV�DQG�VPDOO EXVLQHVVHV�ZKR�VXSSRUW�WKH�KRPH�HGXFDWLRQ�FRPPXQLW\�
$QDO\VLV�RI�([SHQGLWXUH
&XUUHQW�<HDU
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
|---|---|---|---|
| 5HVRXUFHV8VHG | |||
| &KDULWDEOH$FWLYLWLHV | |||
| $FWLYLWLHV | � | � | � |
| $GPLQ | �� | � | �� |
| $GYHUWLVLQJ | �� | � | �� |
| %DQN&KDUJHV | � | � | � |
| 'HSUHFLDWLRQ | � | � | � |
| (YHQW&RVWV | � | � | � |
| LIWVLYHQ | � | � | � |
| 2WKHU([SHQGLWXUH | � | � | � |
| 3UHPLVHV | � | � | � |
| 6WDe&RVWV | � | � | � |
| *RYHUQDQFH&RVWV | |||
| *RYHUQDQFH&RVWV | � | � | � |
| 7RWDOUHVRXUFHVXVHG | ��� | � | ��� |
3ULRU�<HDU
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
|---|---|---|---|
| 5HVRXUFHV8VHG | |||
| &KDULWDEOH$FWLYLWLHV | |||
| $FWLYLWLHV | � | � | � |
| $GPLQ | � | � | � |
| $GYHUWLVLQJ | � | � | � |
| %DQN&KDUJHV | � | � | � |
| 'HSUHFLDWLRQ | � | � | � |
| (YHQW&RVWV | � | � | � |
| LIWVLYHQ | � | � | � |
| 2WKHU([SHQGLWXUH | � | � | � |
| 3UHPLVHV | � | � | � |
| 6WDe&RVWV | � | � | � |
| *RYHUQDQFH&RVWV | |||
| *RYHUQDQFH&RVWV | � | � | � |
| 7RWDOUHVRXUFHVXVHG | � | � | � |
$GGLWLRQDO�([SHQGLWXUH�1RWHV
$V�WKLV�ZDV�RXU�fUVW�\HDU�RI�RSHUDWLRQ��WKHUH�DUH�QR�SUHYLRXV�\HDU V�DFFRXQWV�WR�YLHZ�
$GYHUWLVLQJ �FRVWV� �GRPDLQ�QDPH�DQG�KRVWLQJ�
$GPLQ�FRVWV�PDLQO\�UHODWH�WR�RXU�DFFRXQWLQJ�VRIWZDUH�SDFNDJH�DQG�VRPH�SRVWDJH�IRU�IRUPV�QHHGLQJ�SK\VLFDO�VLJQDWXUH�
1RWHV���$QDO\VLV�RI�1HW�$VVHWV�%HWZHHQ�)XQGV
&XUUHQW�<HDU
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
|---|---|---|---|
| &XUUHQW$VVHWV | ��� | � | ��� |
| 1RQ�&XUUHQW$VVHWV | � | � | � |
| &XUUHQW/LDELOLWLHV | � | � | � |
| 1RQ�&XUUHQW/LDELOLWLHV | � | � | � |
| 7RWDO1HW$VVHWV $VVHWV0LQXV/LDELOLWLHV | ��� | � | ��� |
| 3ULRU<HDU | |||
| 8QUHVWULFWHG | 5HVWULFWHG | 7RWDO | |
| &XUUHQW$VVHWV | � | � | � |
| 1RQ�&XUUHQW$VVHWV | � | � | � |
| &XUUHQW/LDELOLWLHV | � | � | � |
| 1RQ�&XUUHQW/LDELOLWLHV | � | � | � |
| 7RWDO1HW$VVHWV $VVHWV0LQXV/LDELOLWLHV | � | � | � |
1RWHV���2WKHU
9ROXQWHHUV
7KH�FKDULW\�EHQHfWV�JUHDWO\�IURP�WKH�YROXQWDU\�FRQWULEXWLRQV�RI�WLPH�DQG�PRQH\��3OHDVH�UHIHU�WR�WKH�WUXVWHHV �UHSRUW�IRU�IXUWKHU�GHWDLO DERXW�YROXQWHHU�FRQWULEXWLRQV�LQ�WKH�RUJDQLVDWLRQ�
,QGHSHQGHQW�([DPLQDWLRQ�)HHV
)HHV�SD\DEOH�WR�WKH�LQGHSHQGHQW�H[DPLQHU�IRU�LQGHSHQGHQW�H[DPLQDWLRQ�ZHUH��b��
:H�DUH�YHU\�JUDWHIXO�WR�RXU�,QGHSHQGHQW�([DPLQHU�IRU�JLYLQJ�WKHLU�WLPH�WR�XV�
6WDe�&RVWV
1�$
.H\�0DQDJHPHQW�3HUVRQQHO
7KH�FKDULW\�FRQVLGHUV�LWV�NH\�PDQDJHPHQW�SHUVRQQHO�WR�EH�LWV�7UXVWHHV� DOO�XQSDLG�YROXQWHHUV �
,W�GRHV�QRW�HPSOR\�DQ\�VWDe�
7UXVWHH�5HPXQHUDWLRQ
1R�WUXVWHHV�UHFHLYHG�UHQXPHUDWLRQ�IURP�WKH�&,2�
7UXVWHH�([SHQVHV
'XULQJ�WKH�\HDU�RQH�WUXVWHH�LQFXUUHG�RXW�RI�SRFNHW�H[SHQVHV�WRWDOOLQJ�b������
$OO�H[SHQVHV�ZHUH�LQFXUUHG�IRU�WKH�GD\�WR�GD\�UXQQLQJ�RI�WKH�FKDULW\ V�DFWLYLWLHV�
7UXVWHH�'RQDWLRQV
'XULQJ�WKH�\HDU�WKH�WRWDO�DJJUHJDWHG�GRQDWLRQV�PDGH�WR�WKH�FKDULW\�E\�WKH�WUXVWHHV�ZDV�b������
7KHUH�ZHUH�QR�FRQGLWLRQV�DWWDFKHG�WR�WKH�GRQDWLRQV�
7DQJLEOH�)L[HG�$VVHWV
| 7RWDO | |
|---|---|
| &RVW | |
| 3ULRUWR�VW-XQH���� | � |
| $GGLWLRQVLQfQDQFLDO\HDU | � |
| 7RWDODVDW��VW2FWREHU���� | � |
| 'HSUHFLDWLRQ | |
| 3ULRUWR�VW-XQH���� | � |
| $GGLWLRQVLQfQDQFLDO\HDU | � |
| 7RWDODVDW��VW2FWREHU���� | � |
| 1HW%RRN9DOXH | |
| $VDW��VW2FWREHU���� | � |
| $VDW��VW0D\���� | � |
'HEWRUV
| 'HEWRUV | |
|---|---|
| $FFRXQWV5HFHLYDEOH | |
| 'HVFULSWLRQ | $PRXQW |
| *LIW$LG | � |
| 7UDGH'HEWRUV | � |
| 7RWDO | � |
3UHSD\PHQWV
| 'HVFULSWLRQ | $PRXQW |
|---|---|
| 3UHSD\PHQWV | � |
| 7RWDO | � |
&UHGLWRUV
$FFRXQWV�3D\DEOH
| 'HVFULSWLRQ | $PRXQW |
|---|---|
| $FFUXDOV | � |
| )LQDQFH/HDVH/LDELOLWLHV | � |
| 7D[ 6RFLDO6HFXULW|� | |
| 7UDGH&UHGLWRUV | � |
| 7RWDO | � |
'HIHUUHG�,QFRPH
| 'HVFULSWLRQ | $PRXQW |
|---|---|
| 'HIHUUHG,QFRPH | � |
| 7RWDO | � |
$QDO\VLV�RI�&KDULWDEOH�)XQGV
&XUUHQW�<HDU
| )XQG1DPH | 2SHQLQJ%DODQFH | ,QFRPH | ([SHQGLWXUH | )XQG7UDQVIHUV | &ORVLQJ%DODQFH |
|---|---|---|---|---|---|
| 8QUHVWULFWHG | |||||
| *HQHUDO 8QUHVWULFWHG | � | ��� | ��� | � | ��� |
| 727$/ | � | ��� | ��� | � | ��� |
| 8QUHVWULFWHG7RWDO | � | ��� | ��� | � | ��� |
| 5HVWULFWHG7RWDO | � | � | � | � | � |
| 727$/ | � | ��� | ��� | � | ��� |
3ULRU�<HDU
| )XQG1DPH | 2SHQLQJ%DODQFH | ,QFRPH | ([SHQGLWXUH | )XQG7UDQVIHUV | &ORVLQJ%DODQFH |
|---|---|---|---|---|---|
| 8QUHVWULFWHG | |||||
| *HQHUDO 8QUHVWULFWHG | � | � | � | � | � |
| 727$/ | � | � | � | � | � |
| 8QUHVWULFWHG7RWDO | � | � | � | � | � |
| 5HVWULFWHG7RWDO | � | � | � | � | � |
| 727$/ | � | � | � | � | � |
)XQG�7UDQVIHUV
7KHUH�ZHUH�QR�)XQG�7UDQVIHUV�LQ�WKLV�fQDQFLDO�\HDU�
)XQG�'HVFULSWLRQV
)XQG�1DPH 'HVFULSWLRQ *HQHUDO� 8QUHVWULFWHG 2XU�PDLQ�IXQG� 8QUHVWULFWHG ���FDQ�EH�XVHG�IRU�DQ\WKLQJ�DOORZDEOH�LQFOXGLQJ�DGPLQ�
7UDQVDFWLRQV�WR�5HODWHG�3DUWLHV
'XULQJ�WKH�\HDU�WKH�FKDULW\�UHFHLYHG�GRQDWLRQV�WRWDOOLQJ�b������IURP�UHODWHG�SDUWLHV� ZKLFK�LQFOXGHV�WUXVWHHV��DQ\�RWKHU�PHPEHUV�RI�NH\ PDQDJHPHQW�DQG�DQ\RQH�FORVHO\�FRQQHFWHG�WR�WKHP �
'XULQJ�WKH�\HDU�WKH�FKDULW\�SDLG�RXW�RI�SRFNHW�H[SHQVHV�WRWDOOLQJ�b������WR�WUXVWHHV�DQG�YROXQWHHUV�ZKR�DUH�FRQVLGHUHG�UHODWHG�SDUWLHV�
([SHQVHV�SDLG�LQFOXGHG�UHLPEXUVHPHQW�IRU�VWDWLRQHU\�DQG�SRVWDJH�SXUFKDVHG�ZKLOVW�FDUU\LQJ�RXW�GXWLHV�DVVRFLDWHG�ZLWK�EHLQJ WUXVWHHV�YROXQWHHUV�
5HLPEXUVHPHQWV�IRU�H[SHQVHV�LQFXUUHG�ZKHQ�DFWLQJ�DV�DJHQW�IRU�WKH�FKDULW\�RU�LQFXUUHG�ZKHQ�XQGHUWDNLQJ�HPSOR\PHQW�GXWLHV�QRW FRQQHFWHG�ZLWK�VHUYLQJ�DV�D�WUXVWHH�DUH�QRW�LQFOXGHG�LQ�WKLV�GLVFORVXUH�
3ULRU�3HULRG�$GMXVWPHQW
7KHUH�ZHUH�QR�SULRU�\HDU�DGMXVWPHQWV���WKLV�LV�RXU�fUVW�VHW�RI�FKDULW\�DFFRXQWV�
3HQVLRQV
1�$