Ford Street & Maynard Almshouse Charity
Charity No. 202643
Reglstered Housing Associati(￿ f40. A3536
Annual Report and Flnancial Staternents
Forthe year ended
31 March 2025

Ford Street & Maynard Almshouse Charity
Year ended 31 Marth 2025
Contents
Page
Legal and Administrative detsils
Trustees, Report
Statement of Trustees. Responsibilities
Independent Examinerfs Report
Statement of Financial Activlties
Balarsce Sheet
Statement of cash flows
io
Notes to the Accounts
11-18
The followlng does not forni part of the financial ststements
Detailed Profit and Loss Account
19

Ford Street & Maynard Almshouse Charity
Year ended 31 March 2025
Leg31 and Administratl¥e detalls
Charlty registered number
202643
Housing Asstxlatlon reglstered number
A3536
Prlnclpal Operailn8 Address
I Cherry Court. Larnerton, Tavistock, PL19 8FL
Independent examlner
Wlngs Chartered Accountants. Unit I Pearl Assurance House, Elbow Lane, Tavistock
PL19 OBG
Banker5
TSB Bank Plc, Bedford Square, Tavistock. PL19 OAG
Trustees
The Trustees who seNed during the year and since the year end were as follows..
Mr H Smlth (Chairl
Mr D Balment
Mrs J Kllburn
Mr W Lane IRetired August 20241
Mrs B Moody - Tavistock Town Council ￿preSentatiVe (appointed August 20241
Mr A Pitcher
Mrs S Rasdall
Cllr K Royston- Gulworthy Parish Council representative
Mr R Sale
Cllr M Ewings-Tavistock Town Council representative
Mr G Shillabeer
aerk to the Trustees
Mrs K Woodward

Ford Street & Maynard Almshouse Charity
Trustees. Report
The Trustees present their Annual Report together with the financial statements of the charity for
the year ended 31 March 2025, and have given regard to the Charity CommissTron guidance on publlc
benefit as far as permitted by the Trust Deed for the Charity which was sealed on I September 1997
and as amended on 24 October2019.
Objertlves and Alms:
To provlde decent and affordable homes for people in need. Applicants for accommodation must be
resident in the parishes ofTavistock, Gulworthy, Lamerton. Mary Tavy. Peter Tavy or Whitchurch at
the time of application.
Revlew of the Year.
The Charity has achieved full occupanLry throughout the year.
There has been considerable expenditure on maintenance of the properties, includin8 paintin8 of
the extemal woodwork, new doors, replacement windows and gutters, treatment of mould and
damp revealed during surrfey, and the complete internal redecoration of one propeity.
The Welfare Committee have given confidential reports at each Trustees Meeting and has
maintained a consistentty good ￿Ve1 of support to our ￿SIdentS.
FU￿re Strategy:
The Trustees continued to positively develop the II>Year Strategy which aspires to UP8rade the
present accommodation and increase the number of units. Work in this area has been awaiting
major Government announcements on the future Affordable Homes Programme fundin8 Ivia Homes
England), and the possibility of our accessing this fundin8. This infomation has begun to emerge
during late Spring 2025.
Revlew of Flnanclal Posltlon:
The Accounts are prepared on a Cash basis.
We welcome the positive surplus of receipts against expenditure. However, we reco8nise that our
maintenance expenses will continue to be high in the year 202S16 rf we are to maintain our
properties to the levels fequired by Government and for comfortable living for our Residents.
The WMC wa5 increased by 7.7% for the year 202415.
The Trustees operate an investment poly to produce the best financial return wtthin an acceptable
level of risk. and in order to rnaintain ea5ity-acce55ed reserye5 to cover the costs of changeover of
occupancy of three flats in any twelve months. The balance of the reserrfes to be held in medium or
long term investments for financing unexpected lar8e-scale repairs to the Grade 2 Listed buildings.
The Charity reserves to be held in cash or near cash investments denominated in Sterling. The
Charity's cash balances to be deposited with institutions with a minimum rating of A- or invested in a
diversified money market fund.

Reserves Polkv:
The Emergenry Repair Fund reserve was maintained at £50,IJK) and the Cyclical Maintenance Fund
at £5.200 in line with the ￿Mshouse Association policrf.
Safeguardlng:
The Safeguarding policy is based on the Almshouse A5￿)ciatIon advice and reviewed annually.
Safeguarding officers have been appointed.
Strurture Governance and Management".
Two Trustees representing Tavistock Town Council and Gulworthy Parish Council are nominated by
the respectlve Councils. The other eight Trustees a￿ drawn from the local community* bringing
relevant skills in Strategy, Finance, Maintenance or Welfare. A Resident's representative has been
appolnted who attends Trustee Meetin85.
Three sub committees, Finance. Property Maintenance and Welfare. work effectNely by ratlonalising
Information to aid effective Trustees, decision making.
The Almshouse Assotiation'standords of Management which cover, Governance, Admlnlstfation,
Health & Safety. Financial Mano8ement. Residents. Land & Buildings policies and procedures are
followed and reviewed annually.
Major Rlsks:
The risk summary assessment is revkwed in quarterly meeting5 and identifies the risk likellhood and
impact In the areas of Governance and Management, Compliance, Residents and Property.
Admlnlstratlve Informatlon
The charity is a member of the Almshouse Association. which is a national association which
provides support. advice and guidance on a broad ran8e of general and specific issues, to over 1600
independent Almshouse member charities that collectNely compTise around 35,IM) dwellings across
the United Kingdom.
th
Approved by the Board on 12 August 2025 and signed on its behalf bv
4LK
L4
MrH Smith
Mr G. Shillabeer
Chairman of Trustees
Trustee

Ford Street & Maynard Almshouse Charity
SLitement of Trustees, Responsibilities
Year ended 31 Marrh Z025
The trustees are required to prepare financial rtatements for each financial year, which give a true
and fair view of the state of affairs and of the surplus or deficit of the charity for that period. In
preparing those financial statements, the trustees are required to:.
Select suitable accounting policies and then apply them consistently,.
Make judgements and estimates that are reasonable and prudent:
State whether applicable accounting standards have been followed. subject to any material
departures disclosed and explained in the financial statements- and
Prepare the financial statements on a going con￿rn basis unless it is inappropriate to
presume that the charity will continue.
The trustees are responsible for keeping proper accounting records. which disclose with reasonable
accuracy at any time the financial position of the charity. They are also responsible for safeguarding
the assets and liabilities of the charity and hen￿ for takin8 reasonable steps for the prevention and
detection of fraud and other irre8ularities.

Ford Street & Maynard Almshouse Charity
Independert Examlnerfs Report to the Trustees ol Ford Street & Maynard Almshwse Charlty
Year ended 31 Marth 2025
Respe¢llve responslbllltles of trustees and enmlner
As the charl￿S trustees you are responsible forthe preparation of the accounts* you consider that
the audlt requirement of sertlon 144121 of the Charityes Act 2011 Ithe 2011 Act) does not appty.
It Is my responsiblllty to..
E¥amine the accounts under sertion 145 of the 2011 Act-
To follow the procedures laid down In the General Directions given by the Charlty
Commlssloner under section 14515llbl of the 2011 Art. and
To state whether partlcular matters have come to my attentlon.
8a$ls of Independent e￿mIne￿5 report
My examin?tion was carried out in accordance wlth the General Dlrectlons 8lven by the Charity
Commlssloners, An exaMIna￿On 1ndl￿e$ a r￿eW of the accountlng records kept by the charity and
a comparSson of the accounts presented wlth those records. It also includes consideration of anv
unusual Items or dlsclosures In the accounts and seeking explanatlons from you as trustees
concernlng such matters. The procedures undertaken do not provlde all the evidence that would be
requlred In an audlt. ènd consequentiy no oplnk7n15 glven a5 to whether the accounts present a
"true and falr vlevf and the report is limlted to those matter5 set out In the statement below.
Independent examlnerfs statement
In connectSon wlth my examlnation, matter has come to my attention:
l. Which 8lves me reasonable cause to believe that in any materfal respect the requlrements
To keep accoundn8 records In accordance wrth sett￿rt 130of the 2011 Act; and
b. To prepare accounts whlch accord wlth the accounting records and to comply wlth
the accountlng requirements of the 2011 P£t.
Have not been m¢ or
2. To whlch, In my oplnion, attentlon should be drawn In order to enable a proper
understsndin8 of the accounts to be reached.
Andrew Wlng LLB FCA
Wlngs Chartered Accountants
Unlt l. Pearl Assurarbce House
Elbow Lane
Tavistock
PU9 08G
13 August 2025

Ford Street & Maynard Almshouse Charity
Statement of Financial Actsvities (including Income & Expendi￿re Account)
Year ended 31 March 2025
Notes
2025
2024
Income from:
Charitable activitie5
Investments
Other
58,038
52,575
671
7,152
60,398
7,152
65.878
Expendlture on:
Charitable activities
154,668}
{77,2021
Net gainlllossl on movement of
investments
13.388)
15,516
Net {deficit)Itncome and net movement
In funds for the year
11.2881
Reconclllation of funds
Total funds brought forward
18
304.985
306,273
Total funds carrfed forwanl
312007
304,985
All Income and expenditure derive from contlnuing artlvities and are unrestricted funds.
The statement of financiol activities includes all gains and losses reco8ni5ed durin8 the year.
The notes on pages 11 to 18 fonn part of these financial ststements.

Ford Street & Maynard Almshouse tharity
Balan￿ Sheet
Year ended 31 March 2025
Notes
2025
2024
Fixed assets
Tangible assets
Investments
318.395
133,609
452,IJM
324.438
136,997
461,435
io
Curreftt assets
Debtors
Cash and cash equNalents
li
1.165
27.112
28,277
(10.127)
1,936
16,334
18,270
110.221)
Credltors: Amounts falling due within one
vear
Net Current Assets
12
18.150
8,049
TOTAL ASSEfs LESS CURRENT UABIUTIES
470,154
469,484
CREDITORS: Amounts fallinz due after
more than one year
13
1157,347)
{164,4991
Total Net Assets
312,807
304,985
CAPITAL AND RESERVES
Unrestrlrted funds
General reserves
Designated reserves
18
18
105,242
207,565
99,039
205,946
Total Charlty Funds
312,807
304,985
The financial statements were approved and authorised for issue by the Board on 13 August 2024
and signed on their behalf by:
Cllr H Smlth
Chair of Trustees
Mr G. Shillobe
Trustee
The note5 on pages 11 to 18 form part of these financial Statements.

Ford Street & Maynard Almshouse Charity
Statement of Cash Flows
Year ended 31 March 2025
2025
2024
Net cash £enerated from/lused in)
operating activities Isee below)
iomo
(20,0541
Cash flows from Inve5tlng artlvltles
Interest received
Dividend income
Purchase of investments
Net ¢ash flows from Investlng actlvltles
45
665
671
Net increase/(decrease) In cash and cash
equlvalents
Cash and cash equivalents at l April 24
Cash and cash equivalents at 31 March 25
10,778
119,3831
16.334
27.112
35,717
16,334
2025
2024
Cash flows from operatlng artivities
SurplusllDeficitl for the year
Adjustments to cash flows from non-cash
items
Depreclatlon of tangible fixed assets
Financial instrument net18ainsl/losses
throu8h profit and loss
Investment Incorne
{1.2881
{7,1521
{7,152)
6,213
115.5161
(6881
9AIZ
16711
118,4141
Worklng capltal adjustments:
Ilncreasel/decrease In debtors
Increaselldecreasel in creditors
Net cash generated fromllused in)
operating activitie5
772
19531
16871
{20.0541
iO,¢J90
io

Ford Street & Maynard Almshouse Charity
Notes to the Accounts
Year ended 31 March 2025
i. ststus of charlty
The charity is registered with the Charity Commission as a charity within the meaning of the
Charities Act. and as a Registered Social Landlord.
2. Accounting policies
a. Ststement of compllanee
Ford Street & Maynard Almshouse Charity meets the definition of a public benefit
entity under FRS 102.
The financial statements have been prepared in accordance with 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 IFRS 102} leffective l January 20151-
Icharities SORP IFRS 10211. the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland IFRS 1021 and the Houslng SORP 2014: Statement of
Recommended Practice for Re8lstered Social Housing Providers and comply wlth the
Accounting Direction for Private Registered Providers of Social Housing 2015.
b. Summary of slgnlflcant accountlng pollcles and key accounting estimates
The principal accounting policles applied in the preparation of these financial
Statements are set out below. These policies have been consistently applied to all
the years presented. unless otherwise stated.
Ba$15 of preparatlon
The financial statements are prepared on a goin8 con￿rn basis. under the historlcal
cost convention. as modified by certain assets Measu￿ at falr value throijgh the
income statement.
The preparation of financial Statements In conformity with FRS 102 required the use
of certain critical accounting estimate5. It also required management to exercise its
judgement in the prO￿$S of applying the chariV5 accounting policies. The areas
Involving a higher degree of judgement or complexity. or areas where assumptions
and estimates are Significant to the financial statements are disclosed in note 3.
d. Income
Income is derlved from one class of business comprisin8 weekly maintenance
contributions reteivable from housing accommodation.
Income is recognised on a straight line basis over the period to which it relates, net
of voids.
Interest receivable and other income
Interest receivable is recognised using the effective interest rate method.
Other income consists of dividend income. which is recognised when the right to
receive payment is established. and the release of the social housing association
grant ISHGI. which is recognlsed on a systematic basis over the experted life of the
asset.
f. Tangible assets
Tangible assets are ststed at cost less accumulated depreciation and accumulated
impaiment losses. Cost indudes the original purchase pri￿, and costs directly
attributable to bringing the asset to its working conditK*n for its intended use.
li

Ford Street & Maynard Almshouse Charity
Notes to the Accounts. continued
Year ended 31 March 2025
Land and buildings
Land and buildings includes freehold residential properties. Land and buildings are
stated at Cost. less accumulated depreciation and impairment losses.
C05t include5, irrespectNe of the source of finance. costs of acquisition.
development expenditure, Inte￿St on mortgage and other loan financing up
to the appropriate relevant date Isee below).
ii. Interest on mortgage or other loans financing development is capitalised up
to the relevant date of the interim SHG application Isee note 2 jl. Interest on
advances after the interim SHG application 15 capitalised up to the relevant
date of the final SHG application. 80th interim and final relevant dates are
determined in accordance with the Homes and Community Agency circulars
as issued from time to time. Interest not capitali5ed at either the interim or
final relevant dates is charged to the income and expenditure account.
iii. All invol￿$ and architect's certificates relating to capital expenditure are
included in the financial statements at net value after retention5 provided
that the dates of issue or valuation are prior to the year end.
FIx￿re$ and equipment
Fixtures and equipment are stated at cost less accumulated depreciation and
accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets less ￿sIdUal value, other
than land. over their estimated useful lives. as follows..
Asset class:
Depreciation method and rate..
Land and buildings
2% straight line (buildings only)
Fixtures. fittings and equipment25% reducing balance
Investments
Fixed asset investments are included in the financial statements at market value at
the balance sheet date. The Surplus or deficit on fevaluation is transferred to the
5taternent of income.
h. Impairnient of fixed assets
Every year a review of fixed assets 15 carried out to ensure that their value as shown
in the balance sheet is a fair value, which is deemed to be the lower of cost or value
in use.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand. deposits held with banks, and
other short-temi highly liquid investments that are readily convertible to a known
amount of cash and a￿ subject to an insignificant risk of change in value.
12

Ford Street & Maynard Almshouse Charity
Notes to the Accounts- continued
Year ended 31 March 2025
Soclal Housing Grants ISHG)
SHGS are made by the Homes and Communities4ency IHCAI and are utilised to
reduo the amount of mortgage loans approved for SHG to the amount which it is
estimated COD be Se￿iCed by the net annual income of the scheme. The amount of
SHG is calculated on the qualifying costs of the scheme in accordance with
instructions issued from time to time by the Housing Corporation. The grants are
made direct to the lending authority and are reflected in the society's financial
statement only when made and the relevant mortgage loan is reduced.
The grant is ￿cOgnised in income over the expected useful life of the housing
property structure under the accruals model.
k. Financial instruments
The charity ha5 chosen to adopt sertion5 11 and 12 of FRS 102 in respect of financial
Instruments.
Flnanclal assets
Basic financial assets. includin8 trade and other debtors, cash and bank balances, are
initially recognised at transartion price, unless the arrangement constltutes
financing transaction, where the transaction is measured at present value of the
future receipts discounted ot a market rate of interest.
Such assets are subsequently carried at amortised cost uslng the effective Inte￿$t
method.
At the end of each reportin8 period financial assets are assessed to ensure that they
reflect a fair value. Fair value is assessed to be cost or value in use. Any reduction In
value is recognised through the income statement.
Other financial assets. includin8 Investments in equity instruments. which are not
subsidiaries. associates orioint venlures. are initially measured at falr value. which is
normalw the transartion pri￿.
Such assets are subsequently carried at fair value and the changes In fair value are
recognised in the income statement. except that investments in equity instruments
that are not publicly traded and whose fair values cannot be meaSU￿d reliably are
measured at cost less impairment.
Financial assets are no longer recognised when {a) the contractual rights to the cash
flows from the asset expire or are settled, or Ibl substantially all the risk5 and
rewards of the ownership of the asset are transferred to another party.
Flnanclal Ilabilities
8asic financial liabilities, induding trade and other creditors, are initially recognised
at transaction pri￿, unless the arrangement constitutes a financing transaction,
where the debt instrument is measured at present value ofthe future payments
discounted at the market rate of interest.
Debt instruments are subsequently corried at amortised cost, using the effective
interest rate method.
Accounts payable are classified as cUr￿nt liabilities if payment is due within one
year or less. If not. they are presented as non-current liabilities.
13

Ford Street & Maynard Almshouse Charity
Notes to the Accounts- continued
Year ended 31 March 2025
Financial liabilities are derecognised when the liability is extinguished, that is when
the contrartuol obligation 15 discharged. canolled or expires.
Reserves
Reserves have been split by the Trustees between a number of designated reseNes
and the general ￿serve. These ￿serveS are as follows:
General reseThe
This reserve is available for use at the dlscretlon of the Trustees in furtherance of
the general objectives of the charity and which have not been desi8nated for other
purposes.
Cyclical maintenance reserve
The reserve is set aside out of general reserve to meet the charitvs obligation to
provide, on a continuing basis. for the repairs and rnaintenance of its property based
on a planned cyclical rnaintenano programme.
Emergency repair fvnd
This reserve is set aside out of the general reserve to fvnd any large emergency
repair costs.
Capltal reserve
This reserve represents the property element of net a55ets. which the Trustees
believe is not to be part of the funds available for the management of the charity. An
amount is released to general funds each year to cover the dep￿CatIon tharge and
release of the SHG deferred income.
3. Critical accounting judgements and estimatloft uncertalnty
Estimates and judgements are continually evaluated and are based on historical experience
and other factors. including expectations of future events that are believed to be reasonable
under the circumstances.
Crltlcal accountlng estlmates and a55umptlons
The charity makes estimates and assumptions conceming the future. The ￿$vItIng
accountin8 estimates will. by definition. seldom equal the rekted actual results. The
estimates and as5UrnPtK)ns that have a significant risk of causin8 a material adjustment to
the carrying amounts of assets and liabilities Within the next financial year a￿ oddressed
below.
Useful econornic lives of tsngible assets
The annual depreciation charge for tangible assets 1$ sensitive to the changes in the
estimated useful economic lives and ￿SIdUal values of the assets. The useful economic lives
nd residual values are re-assessed annually. They are amended when necessary to reflect
current estimates. based on technological advancement, future investments. economic
utilisation and the physical condition of the assets.
14

Ford Street & Maynard Almshouse Charity
Notes to the Accounts- continued
Yearended 31 March 2025
4. Charitsble actlvltle5 iIKome
2025
2024
Weekly maintenance contributions
Volds
58,038
52.920
{3451
52,575
58,038
5. Income from Investments
2025
2024
Interest on bank deposits
45
CLA d1videndllnte￿St income
643
665
671
6. Other iKome
2025
2024
Social Housing grant released
7,152
7,152
7. Analysls of ewndfture on dlrect charltable artlvltles
2025
2024
Direct costs
Administrative costs
37,696
16,972
54,668
50,729
26,473
77,202
Included within the above costs are the folbowing
80vernance costs=
2025
2024
Accountancy and independent examination
Clerk
750
6,716
7,466
Trustees, remuneration
Trustees of an Almshouse Charity are considered to hold the office
as a Director and accordingly their employments are subject to
disc105ure in the financial statements. No emoluments were paid
to the Trustees during the year {2024: £nill.
During the year no trustees were reimbursed for expenses12024'.
£nill
15

Ford Street & Maynard Almshouse Charity
Notes to the J£counts- continued
Year ended ai March 2025
8. Net Income for the year
Is stated after char8ing-
2025
2024
Depreciation of tan8ible fixed assets
Independent examinef s remuneration- current
examiner
6,213
750
51N)
6,963
9. Tanglble fixed assets
Lind and
bulldlng
Flxtures and
Flttin8S
Total
Cost
At l April 2024 and 31 March 2025
464,582
66,216
530,798
Accumulated depreciation
At l April 2024
Depreciation charge for year
At 31 March 2025
142.185
5,533
147,718
64,174
511
64,685
206,359
212,403
Net Book Values
At 31 March 2025
At 31 March 2024
316,864
322.397
1,531
2.042
318.395
330,652
10. Investments
Llsted
InvÈ5tments
2025
Totsl
2024
At l April 2024
Revaluation
136.997
(3,388)
121,841
15,156
136.997
11. Debtors
2025
2024
Other debtors
Prepayments
137
1,028
9S3
983
1,165
1,936
16

Ford Street & Maynard Almshouse alarity
Notes to the Ac¢oufits- continued
Year ended 31 March 2025
12. Credltors: Amounts falling due within one year
2025
2024
maintenan￿ fees received in advance
Accruals
Deferred income
2,175
2,019
1,050
7.152
10,221
7,152
10.127
13. Credltors: Amounts falling due after rn￿e than one year
2025
2024
Deferred income
157,347
157,347
164,499
164,499
14. Deferred Income
Defer￿d income consists of a Social Housing Grant which wa5 used to purchase the
properties. Thls Erant is released in line with the property depreciation method.
2025
2024
Balance as at l April 2024
Amount released in the year
Balance as ot 31 March 2024
171,651
7,152)
164,499
178,803
17,1521
171,651
15. Tax status
The charity is exempt from taxation on any surplus arising provided that it is used for
charitable purposes.
16. Contin8ent liabilltles
In certain circumstances Sodal Housing Grants would become repayable. maximum
exposure is £321,84412024: £321.8441.
17. Related party transattlons
There were no related party transactlons during the year {2024: £nill.
17

Ford Street & Maynard Almshouse Charity
Notes to the Accounts - contlnued
Year ended 31 March 2025
18. ReseNes
Cyclical
malntenance
Emergency Capitsl
repair fund resefve
Unrestrfcted
general
reserve
Totsl
At l April 2023
Surplus for year
Rounding
Depreciation
Release of SHG deferred
income
Transfers between funds
At l April 2024
Deficit for year
Rounding
Depreciation
Release of SHG defefred
income
At 31 March 2025
5.200
50,(hXI
149,127
101,946
11,2881
306,273
11,2881
15.5331
7.152
5,533
17,1521
5,ZlX>
50.(KXJ
150.746
99,039
7%22
304,985
7,822
15,533)
7,152
5,533
17,1521
5.211)
50,(XJO
15Z,365
105,242
312,807
18

Ford Street & Maynard Almshouse Charity
Detalled Profit and Loss Account
Year ended 31 Marth 2025
2025
2024
Income
Weekly maintenance contributions
Interest received
Dividend income
Release of social housin8 8rant
58,038
45
643
7,152
65.878
52,575
665
7,152
60,398
Expendlture
Property costs
Heating and lighting
Insurance
Repair5 and renewals
Cleaning
Depreciation of buildings
252
2245
29.006
660
5,533
37.696
149
2,405
41,922
720
5,533
50,729
Admlnlstratlve expenses
Clerk
Clerk's expenses
Television licence
Sundry expenses
Accountanoi
Other professional fees
Gardener
Housing Ombudsman
Almshouse Associatlon subscription
24 hour alarm
Depreciation of sundry equipment
6,271
430
23
158
750
14,643
1,389
69
407
1,208
680
26,473
19
140
500
4.458
1.526
659
419
1,221
510
16,972
Total Expenditure
Movement in fair value of investments
154,668)
13,3881
177,2021
15,516
Surplusl(Deficit) for the year
7,822
11,2881
19