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2022-03-31-accounts

DocuSign Envelope ID: 06AF0003-1D43-492E-9B76-5512B9B77141

Cambridge United Charities

Trustees' Report and Financial Statements

For the year ended

31 March 2022

Charity number: 204640

DocuSign Envelope ID: 06AF0003-1D43-492E-9B76-5512B9B77141

Cambridge United Charities

Contents

Page
Reference and administrative details of the charity, its 1
trustees and advisers
Trustees' report 2
Independent Auditors' Report 10
Statement of financial activities 13
Balance sheet 14
Cash flow statement 15
Notes to the accounts 16

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Cambridge United Charities REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees Ms A Ainley (appointed March 2022) Ms A Ainley (appointed March 2022)
Mrs C Bearryman
Ms B Biamonti
Ms B Fairley
Mr H Jones
Ms B Greenwell (appointed July 2021)
Mr J Hardy
Mr J Limmer (resigned July 2022)
Mrs P Lynch (resigned November 2021)
Prof M Pruetzel-Thomas
Dr D Secher
Ms S Simms (resigned June 2021)
Prof H Valentine
Dr H Xin
Charity registered number 204640
Principal and registered office 127 King Street
Cambridge
CB1 1LD
Auditors Chater Allan LLP
Chartered Accountants
7 Quy Court
Colliers Lane
Stow-cum-Quy
CB25 9AU
Fund managers CCLA
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Bankers Barclays Bank plc
9-11 St Andrew's Street
Cambridge
CB2 3AA
Managing agents Cheffins Bidwells
Clifton House 54 High Street
1-2 Clifton Road Trumpington
Cambridge Cambridge
CB1 7EA CB2 9LS

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their Annual Report together with the financial statements of Cambridge United Charities (the Charity) for the period April 2021 to March 2022.

NOTE. This report was written in June and July 2022 following the end of the annual cycle and when significant decisions regarding Hobson House funds were being made. In a small number of places key developments beyond the reporting period are mentioned.

1) STRUCTURE, GOVERNANCE AND MANAGEMENT

a) Objectives and Activities

Cambridge United Charities (CUC) seeks to continue the philanthropic work of the original benefactors for the benefit of the people of Cambridge and its surrounding area through the provision of almshouse accommodation, the relief of poverty and the education of the young.

The Charity is run by volunteers who reside in Cambridge and surrounding areas, supported by a Secretary to the Board of Trustees which is a part-time remunerated post. A new Secretary was recruited during this period.

The Charity seeks professional advice on legal, financial and property matters where necessary.

The Charity does not actively fundraise. Its focus is on the careful stewardship of existing income and investments which belong to its two branches, the Almshouse Branch and the Relief in Need Branch, and on funding their philanthropic activities.

The Board of Trustees confirm that they have taken the Charity Commission’s public benefit guidance into account in their decision-making processes. The Board is satisfied that the activities of the Charity are in keeping with its stated purpose and objectives and that, in keeping with the wishes of the original donors, it provides tangible public benefit for some of the disadvantaged residents of Cambridge. A close working relationship with existing agencies ensures that CUC benefits are easily accessible to possible beneficiaries. A more detailed account of our activity is set out later in this report.

b) Organisational Structure and Decision Making

The Charity’s Governing Document became a Charity Commission Scheme dated 24 July 1970 (with subsequent Charity Commission orders) to administer the following charities:

Administered by the Almshouse Branch

The Consolidated Almshouses Charity The Charity of Stephen Mansfield The Charity of Emily Wood

Administered by the Relief in Need Branch

The Charity of Edward Chapman The Charity of Richard Chevyn The Charity of John Crane The Charity of Lambert Damps The Charity of Thomas Ellys The Charity of Thomas Johnson The Charity of William Mott The Charity of Sir Thomas White The Charity of Thomas Hobson The Charity of Roger Roe

The Hobson and Crane Exhibition Foundation

On 9[th] December 2014 the Charity Commission made a supplementary scheme (ref. 879/1415) approving a number of amendments to the 1970 Scheme, which allow CUC greater administrative flexibility in the allocation of funds to aid qualifying almspeople (as redefined), and also under Relief in Need, where the definition of persons entitled to benefit has also been redefined.

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The full Board currently consists of twelve Trustees who manage the Charity and are each appointed by the Board to a four-year term of office that can be renewed once. Further renewals are possible in exceptional circumstances. There are four ‘nominated’ Trustees; two of them are appointed by Cambridge Aid (previously Cambridge Central Aid Society) and two further Trustees are appointed by Cambridge University. The remaining Trustees are ‘co-opted’ Trustees who are citizens of Cambridge or the surrounding areas.

There are three ordinary Board meetings per year, with the provision for additional special meetings, should the need arise. The first of these in July 2021 was held by Zoom because of the continuing Covid risks but in person meetings started again in November 2021. The Chair is annually elected from the membership of the Board. The same is true for the Vice-Chair, the Almshouse Trustee, and the Treasurer.

The Treasurer works closely with the Charity’s appointed Accountant to ensure sound financial management and ongoing probity. The Board is supported by a Secretary who minutes the Board meetings and attends to the Charity’s administrative needs and duties. A new Secretary to the Board of Trustees, Leanne Smith was appointed from 1 March 2022 after our previous Secretary resigned in January 2022 due to ill health.

Postholders were re-elected at the March 2022 meeting of Trustees. It was agreed in principle at that meeting that we would move to biennial rather than annual election of postholders. A formal resolution to this effect was put to the July 2022 meeting of the Board.

The Board has established two sub-committees, both responsible to the Board, which meet between Board meetings and prepare recommendations to the Board. Both sub-committees have agreed terms of reference and approved by the Board to produce notes of their meetings for discussion at the main Board meetings.

They are:

  1. The Resources sub-committee which is chaired by the Treasurer. This was Huw Jones during the reporting year. The Resources sub-committee continued to meet by Zoom.

  2. The Almshouse Sub-Committee which is chaired by the Almshouse Trustee. Monika Thomas has taken on this role since the retirement due to ill health of the previous Chair Sue Simms. The Committee resumed meetings in person during the latter part of the reporting year.

Regarding the Charity’s almshouses, each set of almshouses has been assigned a visiting trustee who visits the almshouse residents during the year and reports back to the trustees through the Almshouse Trustee. An important part of the role of the Visiting Trustee is to monitor the services provided by the managing agent and to advise their fellow trustees when making decisions concerning the almshouses.

There have been some changes to Trustees undertaking these important roles during the year. The meetings with residents have been a mixture of in person and telephone/email contact because some residents are clinically extremely vulnerable and are still cautious in relation to Covid risks.

Trustees and Secretary/Clerk changes from 1st April 2021- 31st March 2022

There have been a number of changes during the year 2021-22 with two Trustees leaving the board and two new trustees joining as well as a change in Secretary/Clerk. Changes during the year were as follows:

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

2) KEY ISSUES ADDRESSED DURING THE YEAR

Trustees have addressed the following key issues during 2021-22:

● Hobson House and Henley Homes settlement

After much negotiation the new agreement with Henley Homes was signed on 12 July 2021. The £7m premium was paid into a holding account. We then agreed an independent valuation to propose the split of monies between Cambridge City Council and ourselves. This was received on 12 January 2022 and was agreed, resulting in CUC receiving a final settlement of £2,020,250.60. This will be supplemented by ground rent of £85,000 per year from November 2022. This new income will very substantially increase the grant-giving powers of Cambridge United Charity. Thanks are due to all those on the current and previous boards who have worked over many years to finalise this deal.

● Working with Hundred Houses Society

Work on the maintenance of our almshouses proved somewhat challenging through the year due to a combination of staff changes at HHS, difficulties with contractors and the general difficulties and inflation in the building trade post-pandemic. We raised these issues at each of our board meetings and almshouse sub-committee meetings during the year and with HHS senior management at the annual review meeting in early February 2022.

● Dealing with the Radegund Public House

Coldchain Bars Ltd who lease the pub started to pay rent to us after the main Coronavirus restrictions were lifted in Summer 2021. As a small brewery business which was hit hard by the pandemic, they have had trouble finding the time and resources to complete the building and refurbishment works necessary, and have yet to re-open the pub.

● Trustee and secretary recruitment and induction

We have had three secretaries in a period of three years. We decided to draw up a full job description and person specification and advertise externally to fill the role this time. We conducted a competitive interview process and made a new appointment in February and the new secretary started in March 2022. We have also professionalised the finding of new trustees with a role description, person specification and interview process which always involves two trustees who do not know the potential new trustee. We have developed an induction folder for new trustees.

● Use of Google Drive for all papers and meetings

It was previously the case that all historical documents were held either in hard copy in the office or on personal computer drives of individual trustees. This meant that it was very hard for a new trustee or new postholder to find old documents. The use of Google Drive means that it should be much easier for new trustees and new postholders to find historical documents. It is also easier for the trustees to work collaboratively between meetings and for all trustees to access agendas and board papers.

● Retirement of Trustees

Two trustees retired from the board during the year. Both had given long and valuable service. Sue Simms had used her previous housing expertise in her role as our Almshouse Trustee and had worked with compassion and diligence over many years. She had to retire due to serious illness and we wish her well. Penny Lynch has worked as one of our visiting trustees and kindly agreed to extend her period of office by a year to give continuity of care to her residents during the worst of the pandemic. We are very grateful to her too.

3) ACHIEVEMENTS AND PERFORMANCE

a) Almshouse Branch

The objectives of the charity are to provide accommodation in Cambridge for beneficiaries who could otherwise not afford to live in the city in an increasingly difficult housing market. The Charity’s almshouses have, until recently, provided affordable homes for twenty-nine women according to the intentions of the original donors , i.e. women whose personal background and financial circumstances make them suitable.

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

Under the amending scheme of December 2014, qualifying almspeople no longer have to be women and we have since housed several male residents. We agreed in July 2020 that, in principle, we would extend our criteron to include people who had learning difficulties but who are capable of living independently. We have not as yet appointed a resident who meets this criterion but will aim to do so as and when a suitable vacancy and application arises.

The almshouse residents are supported by our volunteer visiting trustees. This role has been particularly challenging during the recent past because of the Coronavirus pandemic. Thanks are due to the Almshouse Trustee, the team of visiting trustees and to Hundred Houses Society staff for supporting all of our residents through this period.

A key objective is to manage the almshouses for the benefit of residents, and to keep the properties in a good state of repair. Hundred Houses Society (HHS) manages our properties on a day-to-day basis as per the Management Agreement signed in April 2021. As already stated in this report there have been some problems with responsiveness, communication and quality of work in relation to maintenance over the past 12 months.

The Chair and Almshouse Trustee met with the residents of Church Street almshouses in December 2021 to hear their on-going concerns about maintenance and communication problems with HHS. We escalated these to HHS management as appropriate.

The trustees set a budget each year for routine repair and maintenance and also try to plan longer-term for bigger refurbishment projects on a cyclical basis. We hold an annual meeting involving the Chair, Treasurer and Almshouse Trustee with staff at HHS in order to discuss performance and budgets. HHS is currently undertaking a condition survey of all properties to better inform this long-term view. We decided to delegate more authority to the Almshouse Trustee to authorise small repairs to help ensure speedy decision making and this was approved by the board at our meeting in November 2021.

Almshouse vacancies are advertised through the local Choice Based Lettings scheme. Applicants who fulfil the criteria set by the Charity are invited to apply. Selection is in the first instance facilitated by HHS and then approved or rejected by the Almshouse Trustee. We have had a number of vacancies this year and the new residents are generally very appreciative of the opportunity to secure accommodation near the centre of Cambridge at an affordable price.

The Charity is a member of the Almshouse Association. The Trustees have continued to find it a valuable resource which provides information and advice about statutory requirements and good management practice for this distinctive type of supported housing. Trustees have also continued to participate in and benefit from mainly online briefings and training events organised by various Law firms, Accountants, CCLA and the City Council.

The Radegund pub falls under the Almshouse branch and has been empty all year as reported elsewhere in this report. Rental income is being received but we are anxious for this historic pub to re-open.

In summary trustees have been addressing the following key almshouse issues:

b) Relief in Need Branch (RIN)

This branch is divided into two strands:

i. Relief in Need

The Governing Document (as amended) provides for net income to be used “ in relieving either generally or individually persons in conditions of need, hardship or distress living within the City of Cambridge and its surrounding area, or persons in conditions of need, hardship or distress who can otherwise establish a personal

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

connection with the said area, by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons .”

Grants from RIN income continue to be given to Cambridge Aid, a long established and highly regarded local charity, which helps people in financial need to buy basic household goods, food and clothing. Their work is characterised by prompt and compassionate decision-making, working through local social care professionals and agencies. A grant of £18,304 was allocated by the Trustees during the year 2021-22. This accounted for a smaller proportion of their income than in previous years as they have increased their income in response to increased need. Regular updates and reports continue to be received from Cambridge Aid and we are satisfied that this is a very good use of our funds.

The RIN branch will in future have substantial additional funds to distribute to local charities. A paper was received at the November 2021 meeting explaining the history of the current grant-making and recipients as a prelude to thinking about how future grants should be made.

An awayday was held just after the end of the reporting period to start to establish principles relating to how we might best distribute these additional funds.

ii. Hobson & Crane Educational Grants

Trustees decided a number of years ago that it would be more efficient and effective to distribute RIN funds to existing organisations operating in the broad area of addressing educational disadvantage, rather than allowing individuals to apply directly to us for funds. We have therefore carefully selected a small number of organisations whose purposes accord with those of our original donors and they provide support to individuals and groups. We have recently agreed on a set of principles for allocation of grants to recipients, both existing and new. We have also devised a simple application process for any potential new beneficiaries to demonstrate that they meet these principles in order to avoid future ad hoc decisions.

During the Financial Year 2021-22 the following sums were allocated:

The Charity receives annual reports from each of these organisations, and we are invited to their AGMs. We are satisfied that the Charity’s contribution to their work has been to great public benefit. The Trustees are confident that, within the means available to them, they have succeeded in furthering the philanthropic intentions of the original donors of the Charity in an accessible way.

4) STATEMENT OF RISKS AND UNCERTAINTIES

The Board of Trustees is responsible for the risk management within the Charity’s operation. The Board is responsible for safeguarding the Charity’s assets, for taking reasonable steps for avoiding irregularities and fraud, and for ensuring the Charity’s efficient operation.

Trustees review and update the risk register at each meeting and propose steps/actions to be taken to minimise risks where possible.

Risks that declined during the year include: coronavirus risks (relating both to the operation of the charity and to the health of our residents); risks relating to a shared understanding of our mission and strategy as we started to discuss the options for dealing with the new funds; cost of professional advice (which had mainly related to Hobson House); and risks relating to income from Hobson House as we reached a deal with Henley Homes.

Risks that increased related mainly to the difficulties associated with timely repairs and maintenance through Hundred Houses Society.

The risk register identified the following red and amber risks as at March 2022:

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

RED RISK

● None identified

AMBER RISKS. There are a smaller number of amber risks than last year

● Radegund pub:

As detailed elsewhere the pub has been closed for the whole of the annual reporting period and, although we are receiving rent, we feel that the expenditure incurred by the leaseholder does still represent a risk.

The communication difficulties being experienced with Hundred Houses Society mean that it is harder to plan than we would like. Current legal advice also suggests that virement from the RIN branch to the Almshouse branch is likely to require Charity Commission approval.

● Almshouse Maintenance delays and communication issues Extensively discussed elsewhere

5) FINANCIAL REVIEW

The statement of financial activities for the year ending 31 March 2022 has been received from our accountant Chater Allan LLP in preparation for audit by the accountant.

Cambridge United Charities is responsible for funds and assets with a total net value of £5,182,137. The substantial one-off gain on investments is due to the receipt of the premium on disposal of the lease at Hobson House of £2,121,304, and the revaluation of the property of £1,554,545 which increased the total fund value from £1.37m in 2020-21 to £5.18m.

The accounts for the year 2021-22 show a total income for the Charity of £200,529 compared to £167,205 in 2020-21. This income was split between £175,073 for the Almshouse Branch and £25,456 for the Relief in Need Branch.

Expenditure was £134,204 compared with £157,787 in 2020-21, largely due to reduced professional fees. Professional fees have been reduced because of the resolution of the Hobson House lease and the letting of the Radegund pub.

Overall income exceeded expenditure by £66,325. There was a surplus of £80,152 for the Almshouse Branch. The Relief in Need Branch showed a deficit of £13,827.

There was an increase of £56,810 in permanent endowment funds.

Income from investments was £41,385 for the year (compared to £22,675 in 2020-21)

Trustees have been addressing the following financial issues:

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

6) INVESTMENT POLICY

Investments are managed by CCLA.

In accordance with the charity's constitution, the Trustees have the power to invest in such stocks, shares, and investments as they see fit. The Trustees have appointed CCLA to manage some of the funds not required for the immediate purpose of the charity, amounting to £849,244 (31 March 2021 - £922,864).

7) RESERVES POLICY

At the end of the financial year 2021-22 the deposit account cash funds of the Charity amounted to £2,356,665

Cambridge United Charities recognises the need to have sufficient funds in reserve readily available to cover day to day expenditure. In order to mitigate this risk, the trustees have calculated that free reserves of £150,000 would be needed to allow the charity to operate for at least 12 months.

For reference purposes, Cambridge United Charities’ fund values at the end of the 2021-22 financial year were as follows:

Almshouse Branch:
Permanent Endowment £895,729
Restricted Funds £401,616
Relief in Need Branch:
Permanent Endowment £222,770
Restricted Funds £3,662,022
Total £5,182,137

8) TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Cambridge United Charities TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

Because of the increase in income during the year we are required to have the accounts audited rather than being independently examined.

This report was approved by the Trustees on 13 January 2023 and signed on their behalf.

Chair of Trustees Treasurer

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Helen Valentine
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Huw Jones
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CAMBRIDGE UNITED CHARITIES FOR THE YEAR ENDED 31 MARCH 2022

Opinion

We have audited the financial statements for The Cambridge United Charities for the period ended 31 March 2022 which comprise of the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and the related notes on pages 13 to 23. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), and the 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 of Ireland (FRS 102) (effective 1 January 2019).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees' annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CAMBRIDGE UNITED CHARITIES FOR THE YEAR ENDED 31 MARCH 2022

Matters on which we are to required to report by exception

In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Council of Management’s report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with

regulations made under section 154 of that act

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the annual financial statements from our general commercial and charity specific experience, through discussion with the Council of Members (as required by auditing standards), and from inspection of the charity's regulatory correspondence, and we discussed with the Council of Members the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indication to non-compliance throughout the audit; the audit team are deemed both competent and capable of identifying non-compliance with rules and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CAMBRIDGE UNITED CHARITIES FOR THE YEAR ENDED 31 MARCH 2022

Auditor's responsibilities for the audit of the financial statements (continued)

The potential effect of these laws and regulations on the annual financial statements varies considerably. Firstly, the charity is subject to laws and regulations that directly affect the annual financial statements including financial reporting legislation and taxation legislation, and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related annual account items. Secondly, the charity is subject to other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance non-compliance with industry regulations. We assessed the risk of fraud in the financial statements through discussion with management and from our experience of the charity. We communicated identified fraud risk areas throughout our team and remained alert to any indication of fraud throughout the audit. In particular, we assessed the potential impact of the global pandemic known as Covid19 on the risk of fraud. We did not identify any instances of fraud during the course of our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's members, as a body in accordance with section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the members those matters that we are required to state to them in an audit report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Chater Allan LLP Chartered Accountants & Statutory Auditors 7 Quy Court Colliers Lane Stow-cum-Quy CB25 9AU

19 January 2023 Date:

Chater Allan LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Cambridge United Charities

STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022

Permanent Permanent Restricted Funds Restricted Funds
Endowment Funds Total Total
Almshouse Relief Almshouse Relief 2022 2021
in need in need
Note £ £ £ £ £ £
INCOME AND ENDOWMENTS FROM:
Almshouses - Weekly Maintenance 2 - - 143,705 - 143,705 142,106
Contributions
Rent 2 - - 15,404 - 15,404 2,389
Other income 2 - - 35 - 35 35
Investments 3 - - 15,929 25,456 41,385 22,675
Total Income and Endowments - - 175,073 25,456 200,529 167,205
EXPENDITURE ON:
Charitable activities 4 6,017 - 88,904 39,283 134,204 157,787
Total Expenditure 6,017 - 88,904 39,283 134,204 157,787
Net Income /(Expenditure) Before Transfers (6,017) - 86,169 (13,827) 66,325 9,418
Transfers between Funds - - - - - -
NET INCOME / (EXPENDITURE) BEFORE (6,017) - 86,169 (13,827) 66,325 9,418
OTHER GAINS AND LOSSES
Gains/(Losses) on Investment Assets
Other Investments 45,056 17,771 10,793 - 73,620 117,015
Hobson House investment property - - - 3,675,849 3,675,849 -
NET MOVEMENT IN FUNDS 39,039 17,771 96,962 3,662,022 3,815,794 126,433
RECONCILIATION OF FUNDS:
Total Funds brought forward 856,690 204,999 304,654 - 1,366,343 1,239,910
TOTAL FUNDS CARRIED FORWARD 13 895,729 222,770 401,616 3,662,022 5,182,137 1,366,343

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DocuSign Envelope ID: 06AF0003-1D43-492E-9B76-5512B9B77141

Cambridge United Charities BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2022

Note
Fixed assets
Tangible fixed assets
8
Investments
9
Current assets
Debtors
10
Cash at Bank and in Hand
Liabilities
Creditors: amounts falling due
11
within one year
Total Assets less Current Liabilities
Creditors
amounts falling due after more than one year
12
Net Assets
Funds
Restricted Funds
Almshouse Branch
13
Relief in Need Branch
13
Permanent Endowment Funds
Almshouse Branch
13
Relief in Need Branch
13
Total Funds		 £
£
£
£
330,929
336,946
2,477,409
849,244
2,808,338
1,186,190
40,119
38,874
2,356,665
159,707
2,396,784
198,581
(22,985)
(18,428)
2,373,799
180,153
5,182,137
1,366,343
-
-
5,182,137
1,366,343
401,616
304,654
3,662,022
-
4,063,638
304,654
895,729
856,690
222,770
204,999
1,118,499
1,061,689
5,182,137
1,366,343
2022
2021		 £
£
£
£
330,929
336,946
2,477,409
849,244
2,808,338
1,186,190
40,119
38,874
2,356,665
159,707
2,396,784
198,581
(22,985)
(18,428)
2,373,799
180,153
5,182,137
1,366,343
-
-
5,182,137
1,366,343
401,616
304,654
3,662,022
-
4,063,638
304,654
895,729
856,690
222,770
204,999
1,118,499
1,061,689
5,182,137
1,366,343
2022
2021
1,366,343
-
1,366,343
304,654
-
304,654
856,690
204,999
1,061,689
1,366,343

The financial statements were approved by the Trustees on 13th January 2023 and signed on their behalf by:

Prof Helen Valentine Mr Huw Jones Chair Trustee

The notes on pages 16 to 23 form part of these financial statements.

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Cambridge United Charities STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
£ £
Cash flows from operating activities:
Net cash provided by operating activities 75,654 37,955
Cash flows from investing activities:
Acquisition of investments - (150,000)
Disposal of investments 2,121,304 -
Purchase of property, plant and equipment - -
Net cash provided by investing activities 2,121,304 (150,000)
Change in cash and cash equivalents in the
reporting period 2,196,958 (112,045)
Cash and cash equivalents at the beginning
of the reporting period 159,707 271,752
Cash and cash equivalents at the end of the
reporting period 2,356,665 159,707
Cash and cash equivalents at the end of the
reporting period
Cash at bank and in hand 2,356,665 159,707
2,356,665 159,707
Reconciliation of net income/(expenditure) to net cash flow from operating activities
2022 2021
£ £
Net income/ (expenditure) for the reporting period 3,815,794 126,433
Adjustments for:
Depreciation charges 6,017 6,017
(Gains)/losses on investments (3,749,469) (117,015)
(Increase)/decrease in debtors (1,245) 23,534
Increase/(decrease) in creditors 4,557 (1,014)
Net cash provided by operating activities 75,654 37,955

15

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the 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 of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

Cambridge United Charities constitutes a public benefit entity as defined by FRS 102.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

The charity has permanent endowment funds for both its principal activities: Almshouse accommodation for the elderly and donations to organisations working for relief of the poor. The Trustees have no power to convert this capital into income.

The income of each endowment fund is restricted to being used for the purpose of each separate activity and the

value of these restricted funds represents the amount of unexpended income.

An additional restricted fund has also been established for the extraordinary repair, improvement or rebuilding of the Almshouses and other properties belonging to the Almshouse branch of the charity.

Investment income, gains and losses are allocated to the appropriate fund.

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.5 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property 1.11% straight line

No depreciation is provided on freehold land.

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of financial activities.

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.12 Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

2. INCOMING RESOURCES

Permanent
Endowment Almshouse
Relief
Total
Total
Funds
in need
2022
2021
£
£
£
£
£
Almshouses - Weekly Maintenance Contributions
-
143,705
-
143,705
142,106
Rent
-
15,404
-
15,404
2,389
Other income
-
35
-
35
35
-
159,144
-
159,144
144,530
Total in 2021
-
144,530
-
144,530
3. INVESTMENT INCOME
Permanent
Endowment Almshouse
Relief
Total
Total
Funds
in need
2022
2021
£
£
£
£
£
Investment income - local listed investments
-
14,754
10,880
25,634
22,450
Rental income
-
-
14,576
14,576
-
Interest income
-
1,175
-
1,175
225
-
15,929
25,456
41,385
22,675
Total in 2021
-
14,689
7,986
22,675
4. ANALYSIS OF EXPENDITURE BY ACTIVITIES
Grant
funding of
Support
Total
Total
activities
costs
2022
2021
£
£
£
£
Charitable activities
Almshouse
-
94,921
94,921
112,621
Relief in need
22,004
17,279
39,283
45,166
22,004
112,200
134,204
157,787
Charitable activities in 2021
28,200
129,587
157,787
Restricted funds
Restricted funds		 Permanent
Endowment Almshouse
Relief
Total
Total
Funds
in need
2022
2021
£
£
£
£
£
-
143,705
-
143,705
142,106
-
15,404
-
15,404
2,389
-
35
-
35
35
Restricted funds		 Permanent
Endowment Almshouse
Relief
Total
Total
Funds
in need
2022
2021
£
£
£
£
£
-
143,705
-
143,705
142,106
-
15,404
-
15,404
2,389
-
35
-
35
35
Restricted funds
-
159,144
-
159,144
144,530
-
144,530
-
144,530
Permanent
Endowment Almshouse
Relief
Total
Total
Funds
in need
2022
2021
£
£
£
£
£
-
14,754
10,880
25,634
22,450
-
-
14,576
14,576
-
-
1,175
-
1,175
225
Restricted funds
- 15,929
25,456
41,385
22,675
14,689
7,986
22,675
Grant
funding of
Support
Total
Total
activities
costs
2022
2021
£
£
£
£
-
94,921
94,921
112,621
22,004
17,279
39,283
45,166
-
22,004
112,200
134,204
157,787
28,200
129,587
157,787

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. SUPPORT AND GOVERNANCE COSTS

Repairs and maintenance
Light and heat
Water and sewerage charges
Insurance
Independent Living Service
Management fee
Consultancy
Cleaning
Residents allowance
Miscellaneous expenses
Staff salaries
Professional fees
Subscriptions
Computer and website
Rent
Depreciation
Audit and accountancy		 General
Total
Total
Support
Governance
2022
2021
£
£
£
£
25,642
-
25,642
37,726
15,642
-
15,642
17,343
5,909
-
5,909
6,666
9,031
-
9,031
14,323
86
-
86
581
23,832
-
23,832
22,677
-
-
-
1,300
480
-
480
960
-
-
-
840
1,629
-
1,629
60
5,290
-
5,290
2,800
-
-
-
5,063
137
-
137
295
-
-
-
-
5,605
-
5,605
4,836
6,017
-
6,017
6,017
-
12,900
12,900
8,100
99,300
12,900
112,200
129,587

6. ANALYSIS OF GRANTS

6. ANALYSIS OF GRANTS
Grants to institutions Grants to
Total
Total
Institutions
2022
2021
£
£
£
22,004
22,004
28,200
22,004
22,004
28,200

7. NET INCOME/ EXPENDITURE INCLUDES THE FOLLOWING COST

Depreciation of tangible fixed assets (owned by the Charity)
Audit and accountancy		 2022
2021
£
£
6,017
6,017
12,900
8,100
18,917
14,117

During the year, no trustees received any remuneration (2021 - £nil). During the year, no trustees received any reimbursement of expenses (2021 - £nil).

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. TANGIBLE FIXED ASSETS
Cost
As at 1 April 2021
As at 31 March 2022
Depreciation
As at 1 April 2021
Charge for the year
As at 31 March 2022
Net Book Value
As at 31 March 2022
As at 31 March 2021
9. FIXED ASSET INVESTMENTS
Market Value
Market value brought forward
Purchases in the year
Unrealised gain/(loss) in the year
Revaluation in the current year
Market value carried forward
Listed Investments
Investment property
Historical cost		 Freehold
Housing
Total
Total
land
properties
2022
2021
£
£
14,700
542,056
556,756
556,756
14,700
542,056
556,756
556,756
-
219,810
219,810
213,793
-
6,017
6,017
6,017
-
225,827
225,827
219,810
14,700
316,229
330,929
336,946
14,700
322,246
336,946
342,963
Listed
Investment
Total
Listed
Securities
Property
Investments
Securities
2022
2022
2022
2021
£
£
£
£
849,244
-
849,244
582,229
-
-
-
150,000
73,620
-
73,620
117,015
-
1,554,545
1,554,545
-
922,864
1,554,545
2,477,409
849,244
922,864
-
922,864
849,244
-
1,554,545
1,554,545
-
922,864
1,554,545
2,477,409
849,244
559,797
-
559,797
559,797

All the fixed asset investments are held in the UK

Hobson House investment property:

The charity owns land on Regent Street, Cambridge which had been occupied by Hobson House. During the year a 125 year lease was granted, a premium was paid of £2,121,304 and recognised as a gain on investments in the statement of financial activities. The valuation at the year end is the deemed market value of the property.

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

10. DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income
11. CREDITORS
Trade creditors
Other creditors
Accruals and deferred income
12. CREDITORS: Amounts falling due after more than one year
Other creditors
13. STATEMENT OF FUNDS
Brought
Gains/
forward
Income
Expenditure
(losses)
Restricted funds
Relief in need
-
25,456
(39,283) 3,675,849
Almshouses
304,654
175,073
(88,904)
10,793
304,654
200,529
(128,187) 3,686,642
Permanent endowment funds
Relief in need
204,999
-
-
17,771
Almshouses
856,690
-
(6,017)
45,056
1,061,689
-
(6,017)
62,827
Total funds
1,366,343
200,529
(134,204) 3,749,469
14. STATEMENT OF FUNDS (COMPARATIVE)
Restricted funds
Relief in need
1,720
7,986
(45,166)
-
Almshouses
416,146
159,219
(106,604)
21,353
417,866
167,205
(151,770)
21,353
Permanent endowment funds
Relief in need
185,967
-
-
32,249
Almshouses
636,077
-
(6,017)
63,413
822,044
-
(6,017)
95,662
Total funds
1,239,910
167,205
(157,787)
117,015		 10. DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income
11. CREDITORS
Trade creditors
Other creditors
Accruals and deferred income
12. CREDITORS: Amounts falling due after more than one year
Other creditors
13. STATEMENT OF FUNDS
Brought
Gains/
forward
Income
Expenditure
(losses)
Restricted funds
Relief in need
-
25,456
(39,283) 3,675,849
Almshouses
304,654
175,073
(88,904)
10,793
304,654
200,529
(128,187) 3,686,642
Permanent endowment funds
Relief in need
204,999
-
-
17,771
Almshouses
856,690
-
(6,017)
45,056
1,061,689
-
(6,017)
62,827
Total funds
1,366,343
200,529
(134,204) 3,749,469
14. STATEMENT OF FUNDS (COMPARATIVE)
Restricted funds
Relief in need
1,720
7,986
(45,166)
-
Almshouses
416,146
159,219
(106,604)
21,353
417,866
167,205
(151,770)
21,353
Permanent endowment funds
Relief in need
185,967
-
-
32,249
Almshouses
636,077
-
(6,017)
63,413
822,044
-
(6,017)
95,662
Total funds
1,239,910
167,205
(157,787)
117,015		 2022
2021
£
£
36,335
35,527
895
895
2,889
2,452
40,119
38,874
17,208
17,128
-
400
5,777
900
22,985
18,428
-
-
Carried
Transfers
forward
-
3,662,022
-
401,616
304,654
200,529
(128,187) 3,686,642		 -
4,063,638
204,999
-
-
17,771
856,690
-
(6,017)
45,056		 -
222,770
-
895,729
1,061,689
-
(6,017)
62,827		 -
1,118,499
1,366,343
200,529
(134,204) 3,749,469		 -
5,182,137
35,460
-
(185,460)
304,654
417,866
167,205
(151,770)
21,353		 (150,000)
304,654
185,967
-
-
32,249
636,077
-
(6,017)
63,413		 (13,217)
204,999
163,217
856,690
822,044
-
(6,017)
95,662		 150,000
1,061,689
1,239,910
167,205
(157,787)
117,015		 -
1,366,343

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Cambridge United Charities NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due after more than one year		 Total
Total
Almshouse
Relief
Almshouse
Relief
2022
2021
in need
in need
£
£
£
£
£
£
330,929
-
-
-
330,929
336,946
564,800
222,770
135,294 1,554,545
2,477,409
849,244
-
-
289,307 2,107,477
2,396,784
198,581
-
-
(22,985)
-
(22,985)
(18,428)
-
-
-
-
-
-
Restricted Funds
Permanent Endowment
Funds
895,729
222,770
401,616 3,662,022
5,182,137
1,366,343

16. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM:
Almshouses - Weekly Maintenance Contributions
Rent
Other income
Investments
Total Income and Endowments
EXPENDITURE ON:
Charitable activities
Total Expenditure
Net Income /(Expenditure) Before Transfers
Transfers between Funds
NET INCOME / (EXPENDITURE) BEFORE
OTHER GAINS AND LOSSES
Gains/(Losses) on Investment Assets
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Total
Almshouse
Relief
Almshouse
Relief
2021
in need
in need
£
£
£
£
£
-
-
142,106
-
142,106
-
-
2,389
-
2,389
-
-
35
-
35
-
-
14,689
7,986
22,675
Funds
Restricted Funds
Permanent Endowment
-
-
159,219
7,986
167,205
6,017
-
106,604
45,166
157,787
6,017
-
106,604
45,166
157,787
(6,017)
-
52,615
(37,180)
9,418
163,217
(13,217)
(185,460)
35,460
-
157,200
(13,217)
(132,845)
(1,720)
9,418
63,413
32,249
21,353
-
117,015
220,613
19,032
(111,492)
(1,720)
126,433
636,077
185,967
416,146
1,720
1,239,910
856,690
204,999
304,654
-
1,366,343
23