## |Contents||Page| |---|---|---| |List ofTrustees
and Official||| |Report ofthe|Trustees|2-8| |Report ofthe|Independent
Auditors|g-t0| |Consolidated|Statement of Financial Activities|| |Consolidated|and Parent Charity Balance Sheets|12| |Consolidated|Cash Flow Statement|13| |Notes tothe|Accounts|14 —32| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Metrics and Basis|||||| |---|---|---|---|---|---| |||||2023|2022| |1.
Reinvestment|||||3%| |The metrics looks atthe Investment
in properties|||both new and existing||| |asa percentage
ofthe value oftotal properties||held.|||| |2.
New Supply Delivered|||||| |3.
Gearing||||-8%|-25%| |This metric sssssses hcw much ofthe assets are||made up ofdebt and|||| |the degree ofdependence
on debtfinsnce.|||||| |4.
Earnings before interest, tax, depreciation,||amortisation,
major|||| |repairs included
(EBITDA MRI) Interest Cover||||-11,327%|-1,616%| |This is a key indicator for liquidity
and investment|capacity.||||| |5.
Headline Social Housing cost per unit||||822,594|822,594| |This metric assessss the headline social housing||cost per unit|||| |as defined
by the Regulator.|||||| |6.
Operating
Margin|||||| |This metric measures
profitability,
and isawsy of||measuring|||| |the financial efficiency ofa business.|||||| |Operating
Margin (A)||||-72%|-89%| |Operating
Margin (8)||||-25%|-23%| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |YEAR ENDED 31 MAR|CH|2023|||||| |---|---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Endowment|2023|2022| |||Notes|Fund
F|Fundf|Fund|Totalf|Total| |Income and endowments
from:|||||||| |Donations and legacies|||57,102|||57,102|106,776| |income from charitable
activities:
Contributions
from residents||3|1,395,937|||1,395,937|1,317,298| |Other trading activities:
Functions|||1,394|||1,394|19,725| |Investments:
Property
Income
Interest and investment
income||4
10|||222,074
455,175|222,074
455,175|287,039
413,787| |Other income|||25,426|||25,426|2,761| |Total income and endowments|||1,479,859||677,249|2,157„108|2,147,386| |Expenditure
on:|||||||| |Costofraising funds:
Investment
management
costs||5|||186,236|186,236|155,558| |Expenditure
on charitable
activities:
Services
Management
Maintenance|||1,317,097
573,615
322,827|||1,317,097
573,615
322,827|1,264,428
552,830
398,417| |Depreciation|||269,434|17,104||286,538|279,722| |Other expenditure|||695|||695|| |Total expenditure|||2,483,668|17,104|186,236|2,687,008|2,650,955| |Net income 1(expenditure)
before
gains and losses on investments|||(1,003,809)|(17,104)|491,013|(529,900)|(503,569)| |Net gains I(losses) on investments||15&16|||(1,303,551)|(1,303,551)|1,874,367| |Net income I(expenditure)|||(1,003,809)|(17,104)|(812,538)|(1,833,451)|1,370,798| |Transfers
between funds||23&24|904,000||(904,000)||| |Net movement
in funds|||(99,809)|(17,104)|(1,716,538)|(1,833,451)|1,370,798| |Reconciliation
offunds:|||||||| |Total funds brought
forward|||9,023,079|478,911|26,522,833|36,024,823|34,654,025| |Total funds carried forward|||8,923,270|461,807|24,806,295|34,191,372|36,024,823| ## |||||Consolidated|Consolidated|Parent|Charity| |---|---|---|---|---|---|---|---| ||||Notes|2023|2022|2023|2022| |Fixed assets|||||||| |Housing Association Scheme properties
Equipment
Improvements
to Great Hospital
buildings
Property
in the coume ofconstruction
Investment
properties
Investments|||14a&b
14a&b
14a&b
14a&b
15
16&22|686,208
640,334
7,023,531
694,389
5,776,524
18,794,691|711,634
482,601
7,243,358
187,993
6,138,524
19,279,749|686,208
640,334
7,023,531
7,343
5,776,524
18,794,692|711,623
482,601
7,243,358
7,343
6,138,524
19,279,749| |Programme
related investment|||17|||749,000|179,000| |||||33,615,677|34,043,848|33,677,632|34,042,198| |Current assets|||||||| |Stock|||18|7,531|7,244|7,531|7,244| |Debtors and prepayments
Cash at bank and in hand|||19|278,298
658,501|239,494
1,178,855|266,713
525,439|247,366
1,174,992| |Cash held by investment|brokers|||187,636|1,029,069|187,636|1,029,069| |||||1,131,966|2,454,662|987,319|2,458,671| |Less:|||||||| |Creditors:|||||||| |Amounts
falling due within|one year||20|(464,935)|(381,581)|(374,211)|(377,056)| |Net current assets||||667,031|2,073,081|613,108|2,081,615| |Total assets less current liabilities||||34,282,708|36,116,929|34,290,740|36,123,813| |Less:|||||||| |Creditors:|||||||| |Amounts
falling due after|one year||21|(91,336)|(92,106)|(91,336)|(92,106)| |Total net assets||||34,191,372|36,024,823|34,199,404|36,031,707| |Represented
by:|||||||| |The funds ofthe charity:|||||||| |Endowmentfund|||23|24,806,295|26,522,833|24,806,295|26,522,833| |Restricted
fund|||24|461,807|478,911|461,807|478,911| |Income fund (unrestricled)|||24|8,923,270|9,023,079|8,931,302|9,029,963| |||||34,191,372|36,024,823|34,199,404|36,031,707| ## ||||||2023|2022| |---|---|---|---|---|---|---| ||||||6|| |Net cash oufflow from operating|activities (see below)||||(874,333)|(231,799)| |Cash Flows from investing
activities||||||| |Interest, dividends
and rents received
Purchase offixed assets|||||677,249
(705,425)|700,826
(217,867)| |Investment
property transactions
Proceeds from sale ofinvestments
Proceeds from sale ofinvestments|property||||301,559
4,303,865|43,286
3,490,021| |Purchase of investments|||||(5,063,931)|(2,388,027)| |Net cash provided
by investing|activities||||(486,683)|1,628,229| |Cash flows from finandng
activities||||||| |Repayment
ofborrowing|||||(771)|(769)| |Net cash provided
by financing|activities||||(771)|(769)| |Change
in cash and cash equivalents||in the year|||(1,361,787)|1,395,661| |Cash and cash equivalents
brought
forward|||||2,207,924|812,263| |Cash and cash equivalents
carried forward|||||846,137|2,207,924| |Reconciliation ofnet income to|net cash outfiow from operating||activities|||| ||||||2023|2022| ||||||6|F| |Net income/(Loss)|||||(1,833,451)|(503,569)| |Inter.st, dividends
and rents received
(Gains)/Losses
on investments
Depreciation|||||(677,249)
1,305,565
286,540|(700,826)
(592,047)
279,722| |Decrease
/ (increase)
in debtors|||||(38,804)|(59,522)| |Decrease
/ (increase)
in stock
Increase
/ (decrease) in creditors|||||(287)
83,353|(595)
160,944| |Net cash outflow from operating|activities||||(874,333)|(231,799)| |Analysis ofchanges
in cash and cash||equivalents:||1 April 2022|Cash flows|31 March 2023| |Cash at bank and in hand||||1,178,855|(520,354)|658,501| |Cash held by investment|brokers|||1,029,069|(841,433)|187,636| |Total||||2,207,924|(1,361,787)|846,137| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Income from Donations
and L|egacies||||| |---|---|---|---|---|---| ||Regulated|Social|Unregulated|Total|Total| ||Housing Activities||Activities|2023|2022| |||5||F|| |Donations|||57,102|57,102|2,329| |NCC —Covid grant funding|||||104,447| ||||57,102|57,102|106,776| ## |Accommodation
charge
Service charges (see below)|Accommodation
charge
Service charges (see below)|945,157
450,780|945,157
450,780|907,328
409,970| |---|---|---|---|---| |Contribution
from Residents||1,395,937|1,395,937|1,317,298| |Social housing
operating|costs|(2,397,659)|(2,397,659)|(2,443,660)| |Operating
deficit||(1,001,722)|(1,001,722)|(1,126,362)| |Void losses||(55,029)|(55,029)|(47,821)| |Service Charges
Gas and Electricity
Care service||140,856
141,652|140,856
141,652|130,499
122,895| |Catering
Cleaning||94,856
73,416|94,856
73,416|105,556
51,020| |||450,780|450,780|409,970| ||||Regulated|Social|Unregulated|Total|Total| |---|---|---|---|---|---|---|---| ||||Housing Activities||Activities|2023|2022| |||||6|||| |Property income
Investment
properties|||||222,074|222,074|287,039| |Expenses
Agent's commission
Professional fees|||||(9,798)
(3,193)|(9,798)
(3,193)|(13,069)
(13,978)| |Repairs etc|||||(92,094)|(92,094)|(44,223)| |Net income from investment||properties|||116,989|116,989|215,768| |Cost ofmanaging
investments
Property agent's commission
Professional fees|||||9,798
3,193|9,798
3,193|13,069
13,978| |Repairs etc
Investment
managers fees
irrecoverable
VAT|||||92,094
69,289
11,862|92,094
69,289
11,862|44,223
72,569
11,719| ||||||186,236|186,236|155,558| |Services|||||||| |Staff costs||||904,924||904,924|884,398| |Food||||86,779||86,779|91,507| |Energy
Laundry
and cleaning
Water and council tax||||147,073
28,075
21,586||147,073
28,075
21,586|133,251
24,799
23,433| |Amenities||||10,119||10,119|5,668| |Care consumables||||1,543||1,543|3,461| |Irrecoverable
VAT||||97,596||97,596|97,911| ||||1,297,695|||1,297,695|1,264,428| |Management
Administration||||132,933||132,933|143,283| |Staff costs||||291,592|33,511|325,103|328,016| |Insurance||||66,073|49,506|115,579|81,531| |||||490,599|83,016|573,615|552,830| ## |||||Regulated
Social
Housing Activities|Regulated
Social
Housing Activities|Regulated
Social
Housing Activities|Unregulated
Activities
6|Total
2023
F|Total
2022| |---|---|---|---|---|---|---|---|---|---| ||Maintenance||||||||| ||Building maintenance|||||322,827||322,827|398,417| ||Depreciation
Housing Association scheme properties
Equipment
Improvements
to Great Hospital
buildings|||||8,311
41,297
236,930||8,311
41,297
236,930|25,415
34,072
220,235| |||||||286,538||286,538|279,722| |10.|Interest and investment
income
Securities interest
Deposit interest receivable||receivable||||454,807
368|454,807
368|413,780
7| ||||||||455,175|455,175|413,787| |11.|Other income||||||||| ||Sundry income
Booklet sales||||||160|160|2,658
103| ||||||||160|160|2,761| |12.|Taxation||||||||| ||The Great Hospital isa registered
certain exemptions to income tax||Charity within the
and capital gains|||meaning
tax. As a|ofthe Taxes Act and is, therefore,
eligible to daim
consequence
no charge totaxation arises forthe||| ||year.||||||||| |13.|Surplus after interest||||||2023
F||2022
F| ||The net income before gains and||losses||is stated||||| ||after charging I(crediting):||||||||| ||Interest payable
Depreciation
Auditors
remuneration
—audit||||||13,657
286,538
28,190||13,657
279,722
13,935| ||Auditors
remuneration
—non audit services||||||1,189||1,500| ## ## |Fixed Assets - Group|||||| |---|---|---|---|---|---| ||Housing Assoc.
Scheme|Building||Property
in
the course of|| ||Pmperties
6|Improvements|Equipment
E|construction|Total
6| |Cost|||||| |At 1 April 2022
Additions|1,270,755|9,489,232|854,397
199,029|187,993
506,396|11,802,377
705,425| |At 31 March 2023|1,270,755|9,489,232|1,053,426|694,389|12,507,802| |Depreciation
At 1 April 2022
Charge forthe year|559,132
25,415|2,245,874
219,828|371,796
41,297||3,176,802
286,540| |At 31 March 2023|584,547|2,465,702|413,093||3,463,342| |Net book value|||||| |At 31 March 2023|686,208|7,023,530|640,333|694,389|9,044,460| |At 31 March 2022|711,623|7,243,358|482,601|187,993|8,625,575| ## |Fixed Assets —Parent|Charity|||||| |---|---|---|---|---|---|---| ||Housing Assoc.
Scheme|Building||Property
in
the course of||| ||Properties|Improvements|Equipment|construction||Total| ||||||E|| |Cost||||||| |At 1 April 2022
Additions|1,270,755|9,489,232|854,397
199,029|7,343||11,621,727
199,029| |At 31 March 2023|1,270,755|9,489,232|1,053,426|7,343||11,820,756| |Depreciation
At 1 April 2022
Charge forthe year|559,132
25,415|2,245,874
219,828|371,796
41,297|||3,176,802
286,540| |At 31 March 2023|584,547|2,465,702|413,093|||3,463,342| |Net book value||||||| |At 31 March 2023|686,208|7,023,530|640,333||7,343|8,357,414| |At 31 March 2022|711,623|7,243,358|482,601||7,343|8,444,925| ## ## ## ## |Investment
properties|-Group|and Charity||||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||||2023|2022|| |||||||||F|6|| |Valuation||||||||||| |1 April 2022
Disposals||||||||6,138,524
(301,559)|5,850,561
(635,333)|| |Additions||||||||||| |Realised gain on disposal
Gain I(loss) on revaluation||||||||21,559
(82,000)|592,047
331,249|| |31 March 2023||||||||5,776,524|6,138,524|| |Classification
ofproperties||||||||||| |Residential
Estate||||||||703,000|645,000|| |Commercial
holdings
Agricultural
holdings||||||||4,410,000
663,524|4,830,000
663,524|| |||||||||5,776,524|6,138,524|| |A formal valuation
of|investment|properties|was|canied|out at||31 March 2023 by Brown||&Co Property|and| |Business Consultants|LLP, a firm|ofindependent||chartered||surveyors,||on behalf ofthe Trustees
in accordance||| |with the accounting
policy set out in note 1g.A||||formal valuation|||of investment
properties||is carried out|every| |three years.||||||||||| ## ## |Investments||||||||| |---|---|---|---|---|---|---|---|---| ||||2023||2023|2022||2022| ||||Cost|Market value||Cost|Market value|| ||||6|||6||6| |Government
stock
Ordinary
shares
Fixed interest|||389,826
9,344,344
3,072,186||344,694
12,244,951
3,046,200|281,197
11,253,162
2,648,828||272,243
16,252,308
2,755,198| |Other assets|||2,967,620||3,158,846|||| |Total|||15,773,976||18,794,691|14,183,187||19,279,749| |Un-quoted
investments
Shares in TGH (Commercial)
Ltd||||||1||1| |Grand total - Charity|||15,773,977||18,794,692|14,183,188||19,279,750| |TGH (Commercial)
Limited is a 100%subsidiary
and a property
construction
activITies to include the provision
of hospitality.
TGH (Commercial)
Limited
Hospital to design and
build new accommodation
for residents.
The results||||||company
that has expanded
its
has been engaged
by the Great
ofthe subsidiary
company to 31||| |March 2023are set|out|in note 29.||||||| ||||2023|2022| |---|---|---|---|---| ||||6|E| |Movements|in quoted investments|||| |Market value
Additions||1 April 2022|19,279,749
5,063,931|19,430,662
2,388,077| |Disposals
Net investment||gains / (losses)|(4,303,865)
(1,245,124)|(3,490,021)
951,071| |Market value||31 March 2023|18,794,691|19,279,749| ## ## |Programme
related investment|Charity|| |---|---|---| ||2023|2022| |Loan toTGH (Commercial)
Limited||| |Balance at 1 April 2022
Additional
loan|179,000
570,000|173,000
6,000| |Balance as at 31 March 2023|749,000|179,000| ## ## ## |Stock|||||||| |---|---|---|---|---|---|---|---| |||||Group||Charity|| ||||2023||2022|2023|2022| ||||||8|E|6| |Food and beverages
Booklets|||6,509
1,022||6,238
1,006|6,509
1,022|6,238
1,006| ||||7,531||7,244|7,531|7,244| |Debtors|||||||| |||||Group||Charity|| ||||2023||2022
9|2023
8|2022
f| |Prepayments
Other debtors|and accrued income||135,451
115,158||118,058
106,373|135,451
103,573|118,058
108,878| |Residents'
contributions||receivable|27,689||12,063|27,689|20,430| ||||278,298||239,494|266,713|247,366| |Creditors: amounts
falling due within one year|||||||| |||||Group||Charity|| ||||2023
8||2022
f|2023
8|2022
8| |Trade creditors|||252,859||216,041|223,810|216,041| |Taxation and
Accruals and|sodal security
deferred income||28,204
183,875||29,678
135,862|28,204
122,197|29,678
131,337| ||||464,935||381,581|374,211|377,056| ## ## ## |Creditors: amounts
falling due af|ter more than one|year -Group and Charit|y|| |---|---|---|---|---| ||||2023|2022| |Housing Association schemes (see|below)||91,336|92,106| ||||91,336|92,106| |Housing Association Schemes||Prior|Youngs|| |||Court|Green|Total| |||||F| |Balances at beginning
ofyear||45,325|46,780|92,105| |Less capital due within one year||(487)|(282)|(769)| |Balances at end ofyear||44,838|46,498|91,336| |Balance included above repayable
instalments
in more than five years|by|40,615|43,907|84,522| |Rate ofinterest payable||15%|14%|| ## |22.|Financial|Instruments|Instruments||||||| |---|---|---|---|---|---|---|---|---|---| ||||||||Group|Charity|| |||||||2023|2022
6|2023
f|2022| ||Financial|assets|atfair value through||||||| ||statement|offinancial activities|||||||| ||Investments|||||18,794,691|19,279,749|18,794,692|19,279,750| |||||||18,794,691|19,279,749|18,794,692|19,279,750| ||Financial|assets|measured|at|||||| ||amortised|cost|||||||| ||Trade debtors|||||27,689|17,355|27,689|20,430| ||Other debtors|||||115,158||103,573|| ||Amounts|owed by group undertakings||||||749,000|| |||||||142,847|123,708|880,262|308,308| ||Financial|liabilities measured|||at||||| ||amortised|cost|||||||| ||Trade creditors|||||252,859|216,041|223,810|216,041| ||Accru ala|||||163,415|96,017|101,740|94,567| ||Loans —Amounts
Loans —Amounts||due within
due alter|one year
one year||769
91,336|770
92,106|769
91,336|770
92,106| |||||||508,379|404,934|417,655|403,484| ## ## |||||||||Unapplied|Total| |---|---|---|---|---|---|---|---|---|---| ||||||||Investment|Total|Permanent| ||||||||Fund|Return|Endowment| ||||||||6|6|| |At beginning
ofthe reporting||period:|||||||| |Gift component
ofthe
Unapplied
total return|permanent|||endowment|||5,091,310|21,431,523|5,091,310
21,431,523| |Total|||||||5,091,310|21,431,523|26,522,833| |Movements
in the reporting||period:|||||||| |Investment
return: Income,||dividends|||and|interest||677,249|677,249| |Investment
return: realised||and||unrealised||losses||(1,303,551)|(1,303,551)| |Less: Investment
management|||costs|||||(186,236)|(186,236)| |Net unapplied
total return||||||||(812,538)|(812,538)| |Unapplied
total return
the reporting
period|allocated|||to income||in||(904,000)|(904,000)| |Net movement
in the|reporting||period|||||(1,716,538)|(1,716,538)| |At end ofthe reporting|period:||||||||| |Gift component
ofthe
Unapplied
total return|permanent|||endowment|||5,091,310|19,714,985|5,091,310
19,714,985| |Total|||||||5,091,310|19,714,985|24,806,295| ## ## |Summary offund movements:||||| |---|---|---|---|---| |||Income|Restricted|Endowment| ||Total|Fund|Fund|Fund| ||nx|8||| |Charity Funds as at 31 March 2022|36,031,707|9,029,963|478,911|26,522,833| |Income|2,154,528|1,477,279||677,249| |Expenditure|(2,683,281)|(2,479,941)|(17,104)|(186,236)| |Transfers behveen funds||904,000||(904,000)| |Gains and losses on investments|(1,303,551)|||(1,303,551)| |Charity Funds as at 31 March 2023|34,199,403|8,931,301|461,807|24,806,295| ## |Total staff costs during the year were:||| |---|---|---| ||2023|2022| |Remuneration|1,072,521|1,077,214| |Social security costs|96,554|80,528| |Pension cost|46,128|41,502| ||1,215,202|1,199,244| ## ## ## ## ## |ummary o|fnet|asset|s by fund||||| |---|---|---|---|---|---|---|---| ||||||Income|Restricted|Endowment| |||||Total|Fund|Fund|Fund| |||||2023|2023|2023|2023| ||||||E|F|| |Investments
Cash|(at Market Value)|||18,794,692
713,075|571,214||18,794,692
141,861| |Stock||||7,531|7,531||| |Debtors||||266,713|173,495||93,218| |Creditors||||(374,211)|(374,211)||| |Free reserves||||19,407,800|378,029||19,029,771| |Housing Association
Investment
property|||loans|(91,336)
5,776,524|(91,336)||5,776,524| |Properly
in the course of construction
Housing Association||||756,343
686,208|756,343
224,401|461,807|| |Scheme property
Equipment||||640,334|640,334||| |Building improvements||||7,023,531|7,023,531||| |||||34,199,404|8,931,302|461,807|24,806,295| |Investment|Fund||||||5,091,310| |Unapplied|Total|Return|||||19,714,985| |TotalEndo|wment|Fu|nd||||24,806,295| ## |ummary o|fnet assets by fund (continued|)|||| |---|---|---|---|---|---| ||||Income|Restricted|Endowment| |||Total|Fund|Fund|Fund| |||2022|2022|2022|2022| |||F|E||| |Investments
Cash|(at Market Value)|19,279,749
2,207,924|1,178,855||19,279,749
1,029,069| |Stock||7,244|7,244||| |Debtors||239,494|164,003||75,491| |Creditors||(381,581)|(381,581)||| |Free reserves||21,352,830|968,521||20,384,309| |Housing Association
loans
Investment
property
Property
inthe course ofconstruction
Housing Association Scheme||(92,106)
6,138,524
187,993
711,623|(92,106)
187,993
232,712|478,911|6,138,524| |pr'operty
Equipment||482,601|482,601||| |Building improvements||7,243,358|7,243,358||| |||36,024,823|9,024,529|478,911|26,522,833| |Investment|Fund||||5,091,310| |Unapplied|Total Return||||21,431,523| |Total Endowment
Fund|||||26,522,833| ## ## |March 2|023are set out below.||| |---|---|---|---| |||2023|2022| |||F|| |Turnover||2,580|| |Cost ofsales and administration||(3,727)|(3,869)| |Charitable
donation|||| |Net profit/(lass)||(1,147)|(3,869)| |The aggregate ofassets liabilities and reserves was:|||| |||2023|2022| |Current|assets|831,693|185,008| |Current|liabilities|(839,724)|(191,892)| |||(8,031)|(6,884)| ## ## ## ## |31.|Statement ofFinancial Activities 31March 2022|Statement ofFinancial Activities 31March 2022|Statement ofFinancial Activities 31March 2022|||| |---|---|---|---|---|---|---| ||||Income|Restricted|Endawment|2022| ||||Fund|Fund|Fund|Total| ||||E|8|8|8| ||Income and endowments
from:
Donations and legacies
106,776|||||106,776| ||Income from charitable
activities:
Net contributians
from residents||1,317,298|||1,317,298| ||Other trading activities
Functians||19,725|||19,725| ||Shop income|||||| ||Investments
Property income
Interest
and
investment||income||287,039
413,787|287,039
413,787| ||receivable|||||| ||Other income||2,761|||2,761| ||Total income and endowments||1,446,560||700,826|2,147,386| ||Expenditure
on:|||||| ||Cost ofraising funds
Investment
management
costs||||155,558|155,558| ||Expenditure
an chantabie
aciivaiesi
SBNlces
1,264,428|||||1264,428| ||Management
Maintenance||552,830
398,417|||552,830
398 417| ||Depredation||262,618|17,104||279,722| ||Expendiiure
on other trading|activities:||||| ||Functions expenditure|||||| ||Oiherexpenditure|||||| ||Total expenditure||2,478,293|17,104|155,558|2,650,955| ||Net
income
I (expenditure)||before|||| ||gains
and losses on investments||(1,031,733)|(17,104)|545,268|(503,569)| ||Net gains I(losses) on investmenls||||1,874,367|1,874,367| ||Net income/(expenditure)||(1,031,733)|(17,104)|2,419,635|1,370,798| ||Transfers
between funds||1,050,000||(1,050,000)|| ||Net movement
in funds||18,267|(17,104)|1,369,635|1,370,798| ||Reconciliation
offunds|||||| ||Total funds brought
forward||9,004,812|496,015|25,153,198|34,654,025| ||Total funds carried forward||9,023,079|478,911|26,522,833|36,024,823|