Charity No. 224571 THE CENTRAL ENGLAND AREA QUAKER MEETING CHARITIES TRUSTEES, REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023 THE CEfaRAL ENGLAND AREA QUAKER MEETING CIIARMES CONTENTS QFTHE TRUSTEES, REPORT& FINANCIAL sfATEMEfiTS FOR YEAR ENDED 31 December 2023 Page Reference and administrauve detslls Trustees, Report 2-11 Report of the Independent Audsiors Charity Statement of Financial Actlvltles Consolidated (Group) Statement of Flnanclal Actlvftles Charlty Balan￿ Sheet and Consolldaied (Gioupl Balance sheet Group Ststernent of Cash Flow Note5 to the Financial Ststements 12-14 15 16 17 18 19-33 THE CEf4TRAL ENGLAND AREA QUAKER MEETING CHARITIES Reference and admlnlstratlve detalls Rqlstered charlty name The Central England Area Quaker Meètlng Charithes w0￿[n£ charlty name Central En8land Quakers ICEQi Charity regl$tration number 224571 Area meetln8offl¢e 40 Bull Street, BirminBham B4 6AF The TrU￿ee5 Christine Ba8nall Sandra Berry (from March 20241 Patricia Bradbury luntll December 20231 Huw Davies (from January 20241 James Green John Kimberley luntil May 20241 Robert Morris Carole Pannell Steven Pullan Gllllan Smith iaerkl Lyndon Thomas Ifrom January 20241 Anne Ullathome (from June 20231 Peter Ullathorne Audrtors BSN Chartered Accountants 3B Swallowfield Courtyard Wofverharnpton Road Oldbury, West Midlands B69 2JG Nomlnee for Land Friends Trusts Limited 173-177 Euston Road, Lorbdon NWI 28J N(xnlnee for Inveslment Rathbone Greenbank Investrnents 10 Queens Square Bristol BSI 4NT Banker5 CAF Bank Llmlted, Klngs Hlll, West Malling. Kent ME19 4JQ Lloyds TSB Bank Plc. PO Box 908, 125 Colmore Row. Birmingham B3 2QD Sollcllors Veale Wasbrou8hMzards 3 Brlndley Place, BlmilnEham Bl THE CEfffliAL ENGLAND AREA QUAKER MEEfiNG CHARITIES TrUSTEE5' REPORT FOR THE YEAR ENDED 31 December 2023 A Introdurtion Central EnBland Area Meetlng trustees are pleased to report on our work In 2023. Durlng 2023 trustees recrulted and appolnted Helen Waters as business support administrator to work alongside Sarah Barker, our principal officer. With these two posts in place trustees are happy to report that all contact with the office in Bull Street Is dealt wlth promptly and professlonally. The main work of trustees thls year has been: Adjusting to different ways ofworkln8 Sateguardlng tralning for trustees and for volunteers in post across the AM Dlscerning the future for some of our property 50 that it doe5 not become a liability Supportlng the work of our AM in developlng the vislon ￿hat does Love requlre of u ManaOn8 our reduced finances wlth no cash contribution from Priory Rooms for a third year. B Strurture. management and governance The Re1￿lOuS Soclety of Frlends In Britaln Is a ChrSstlan denomln*k*n founded In the seventeenth century. The Yearty Meeting of the Religious Society of Friends (Quakers) in Britain is the final Constit￿lOnal authorfty for thè Sodety. Its membershlp ¢onslsts of all those who belong to the hea Meetings in Great Britain. Central England Area Meetln8 Is one of approxlmately 70 con5tltuent Area Meetlngs establlshed for the advan￿ment of reli8ious and other charftable purposes whS¢h derfve from and bear wltnes5 to the prlnclples and practlce5 of the Religious Sodety rjf Frlends. The principal attivity tsf the Area Meeting 15 the holding of Meetings for Worship which are open to all who wish to attend in its Local Meetln85, together wlth the other Branches and related projects whlch support the charit(s objects in an area roughly bounded by Walsall, Warwick and Stourbrldge and Includes the Blrmlngham and Coventry conurbatlons. There Is an office and paid administrator in Bull Street Meeting House In the centre of Blmiln8ham. On 16 March 2009 the Charity Commlsslon granted the Are• Meetlng a stheme unltlng the former registered and excepted parts of the charSty. governlng the tharitles Identifled In the scheme, to be known together ès The Central England Area Quaker Meèting Charities, registered tharity number 224571. The charl￿$ worklnB name Is Central England Quakers I"CE(YI. The Charitls Governing Document defines the way It Is organlsed and managed. Thi5 repoit and the financial slatements incorporate the affairs of the Lms ILocal Meetings) and Branches. There are currently 14 actfve Local Meetlng5 ILMS) whlch make up the Central England Area Meeting. Thesè being: Lo(41 Meetlngs Barnt Green and Reddltch Bournville Bull street Cotterid8e Coventry Hall Green Hartshlll Kings Heath Selly Oak Stourbridge Sutton Coldfield Walsall WaThvick There are 5'Branche5'. which are Projects or committees set up to further specific pieces of work related to Quaker cOn￿rn$. These are: Branches West Midland5 Quaker Peace Education Project IPeacemakersl Quaker Christmas Parcels Communlty Ju5tlce Group Pea￿ Committee pea￿ Hub THE CE14TRAL ENGLAND AREA QUAKER MEETING CHARMES TRUSTEE5' REPORT FOR THE YEAR ENDED 31 DKember 2023 Icontlnued} Membershlp The total number of membeis at the end of 2023 was 41712022 was 4251. At the end of 2023 there were also 245 recorded adult attenders12022 was 2131 and 42 Childrèn wère rècorded at the end of 202312022 was 431. Trystees Trustees ère appointed by Area Meetin& on the basls of nominatlons proposed by the CEQ Nomlnations Committee. (Thls prO￿s5 is a key part of the Quaker Business Method, and the CEQ Nomination5 Committee is responsible for considering all vacancies for voluntary roles, and for recommendin8 "names" to area meeting. These "names" are then appointed or declined at the next area business meetingl. In 1Sne with Quaker practi￿, trustees are appointed for a three-year term, whlch can be eytended for a Second "trienniurn" by mutual agrèemènt beiween the trustee and Area Meeting. On occasion5 trustees serve a third term. New trustees recelve an induction "briefin8° and are given the opportunity to attend a training courses for trustees facllltated bythe Woodbrooke Quaker Study Centre. Trnstees are responsible for monitorlnE the performance of the charlty and managln8 Its artlvltfes. In 2023 there were 10 Trustees and they met 5 times (Februaryi May, August and October as planned) wJth the addltlonal meetlng bein8 a second, extra Drdlnaryi meeting in February. Meetings took the form of joint fa￿ to fa￿ and online meetings Iblendedl. In the Quaker tradltlon, declslons about pollcles, charitable activities and prioritie5 are taken by the member5 of the Area Meeting at regular business meetings. and not by the chariV5 trustees who Provide advi￿ and guidance and take responslblllty for the statutory and legal dutles of the charity. Area business meeting5 are open to all members of the Area MeetinB and with a8reement to interested attenders. Local Meetin85 appoint representatives to ensure effective representatlon. All Local Meetlngs recelve minutes of the buslness meetings and can Cornment freely on the work of CEQ. In 2023 there were 9 Area Meetin8s for business. plus one Devotional Meetin& Trndinq Subsldkry Priory Rooms (Bull Streetl Umited Is a wholly owned subsldlary of CEQ. Th15 Quaker owned and managed conference centre is located at Bull Street Frlend5 MeetlnB House. Dlrertors are appointed by CEQ Area Meeting,. there are at least two CEQ trustee Directors and at least four non-trustee Direttors. The straieglc vlsbon for Prlory Rooms is described in a °Purpose and Principles. document, and the relationship betr4een the company and CEQ trustees is Set out in a detalled Management Agreement. Objed1￿ and Activities Quakerfaith is rooted in the belief of Ilvln8 our Ilves accordlng to our splrltual experlence. Thls Is the basls of Quaker testSmonSes to peace. truth, simplicity, equality and sustainability, which gulde Quaker behavlour, wort( and wltness. The oblect of Central England Area Meetlng is the furtherance of the Beneral religious and charitable purposes of the Rellglous Society of Friends lQuakersl In 8rltaln in the area of Central Engjand Area and beyond. Thls in¢lude5: Strèngthening the life and witness of Quaker meetings both in the area of Central En8land Area Meetin8 and beyond,. SpfeadinÉ the message of Quakers and Interpretlng and developlng the thou8ht and prathce ofthe Rell8lous Society,. Undertakln8 Quaker servlce for the rellef of sufferlng at home and abroad., Funding the tt¢n¢erns that Quaker meetlngs In the area of Central England Area Meeting or beyond have adopted or agreed to support; Provldlng the pastoral care of Indlvidual members and Attenders includin8 a5515tance to those in need and for educatlon. MalntainlnE and developlng Quaker Meeting Houses as places for public worship and from whith to carry our witness to the world: Admlnlsterlng and maintaining the orBanisation of Central England Area Meetlng and ¢ontrlbutln8 to the support of Bfltaln Yearly Meetin8. iv. i. THE CENTRAL ENGLAND AREA QUAKER MEEllNG CHARMES TrUStEES' REPORT FOR THE YEAR ENDED 31 DKember 2023 Icontlnuedl AII 14 Lms and 5 Branches have tontrltr￿ted to the furtherance of the charivs oblertlves through.. Worshlp All of the Local Meetln¢s hold at least one MeetinB for Worship each week. Many meetings continue wlth the use of zoom and offer a blended format. Some meetings have made a consclous declslon to periodlcally hold some of thelr Meetlngs for Worshlp as In-person only events as it was felt that technolo8y can Sometimes be a barrler to engagement las well as a fadlltstor of Itl. Weekty worship in the Local Meetin85 ha5 been enhan￿d by Friends coming together for addltional actlvitles such as Meetln8s for Learnln& Meetln8s for Healln& workshops, splrltual journey and fxperimet)t ￿th Li8hV groups. Frlends also shared in the reading of Advlce5 and Querles, consldered questlons posed In the leaming resource'Beln8 Quaker, Doing Quakerf or heard from local Frlends who shared thelr splrltual Joumey stories. Some Friends attended Pray Brum 24 at St Chad's in BimiinBharn. Some of our Lm's hdd resldential trlp5 or away days and some used Woodbrooke Quaker Study Centre. lust prlor to ivs closure this year. 4 Lms also have a regular thlldren's meèiin8 and many of them corne together periodically to take part In AM wlde artivities. Some of our smaller meetSn8s have stru88led wlth low numbers. whilst others have begun to 8row and flourish again after periods of difficulty. We aim to support all our Friènds. whatevèr their circumstances. Cofflmunhv Frlend5 have been able to enjoy the 50clal support network offered by the Sodety and partake lrt shared lunches. coffee and chat se551ons, vlsitlng the 111 or housebound, craft and chat group and tendlng to the Meeting house gardens. ln June, Hartshill Lmlolned Frlends from other local meetlngs at St Mlchael and AnBe15 Churd) In Fenny Drayton for the unveiling of a Leicester5hlre Councll hlstory green plaque In memory of George Fox. Some Friend5 attended one of the final performance5 of Journeymen Theatre at Bournville Meetlng House. Pastoral sUPPQrt for members and attenders has contlnued throughout the year. induding explorlng ways to Include everyone both young and ¢ld, such as holdlng Sunday meetlngs In the retirement home of a Friend or celebrating significant birthdays with a Shared Sunday lunch. There have a150 been Friends who have passed away during the ve3r and will be sadly rnissed but who have been fondly remembered through memorfal meetlngs. Local Meetln8s have engaged with t￿1r wider communtty In a number of way5 Includln8: fllm showln8s. coffee mornlngs, warm spa￿, and parti¢lpating In events suth as Herita8e Day, Music and Dance Festivals and Christma5 Fèstivals. ￿1 of thè Meeting Houses are let to hirer5 during the week which offers an opportunlty to bulld relationships with other groups in our communities such as other church 8roups, youth 8roups, cultural 8roups. 5peaal interest group5 and those who support the vulnerable. Concerns Charltable ouireach has been approached in wide and varied ways. Many Lm's make charitable donations to concern5 which they are drawn to. Some Lm's have a150 had inwted speakers on issues such as racism and Just Stop 011. Some have 8lven talks to local groups such as GCSE students on Quakerism and peace. Centrally the Area Meetlng has supported Its own prolects whlch Include Peacemakers, Peace Hub and Quaker Chrfstmas Parcels (QCPI. qvaker Christmas Parcels A5 in the past although the 2023 'BI8 Ch￿stmaS Parcels Pack, went well on the day wEth some 1019 par￿1$ distributed at a cost of approximately £18.8001£18.501bagl, the lead up lo *19 De￿mber wlth the orderlng of goods was not such a smooth run. In recent years the team have relied largely on Aldi and Sainsburys for the supply of m05t of the goods, whlch are given away to the famllies of prisoners, refugees and asylum seekers and others. but In 2022 Akll declded that they would no longer be able to help and in 2023 the project relied almost excluslvely on the Selly Oak branch of Salnsburys. THE cEl￿AL ENGLAND AREA QUAKER MEEllNG cHAR￿lEs TRU5TEES' REPORT FOR THE YEAR ENDED 31 December 2023 Iconllnuedl Quèker Chrfstmas Parcels (Cont) The ordering was ctrmplicated by Salnsburfs not confimlng the order in¢tially and not being able to fulfll or only part fulfil some of the order. However, with muth 5UPPOrt from CEQvolunteers both in the planning and on the Thursday. Frlday evenlng and Saturday mornlng the 5tackin& packin8 and distribution of parcels seemed to go particularfy smoothly thisyear despite pad(ing 150 more parcels than In 2022. The publicity given to fundraisin8 for Quaker Chrlstmas Parcels and for the recruitment of volunteer5 worked well in 2023 wlth Income of £17.378, up 17% on 2022, and with approximately 50 volunleers. Peacemakers In 2023, the Management Committee met ft)ur times, twice in person and twice onllne. Thls Induded the first In- person meetlngs slnce 2020. The committee found that thls balanced pattern enabled them to effectNety and effiuently conduct the buslness, whlle allowin8 time to build a strong worklng relatlonship as a commlttee and wlth the dlrector. They were glad to be joined by staff for relevant items and thls provlded us wlth a voluable opportunlty to hear in-depth about aspetts of the work. The new three-year prolect Plantin8 the Seed5 of Peace wa5 launched at the start of 2023 and the name really sum5 up what Peacemakers are trylng to do.. plant seeds of peace in children and young people's lives, that it 15 hoped will flt)wÈr and frult in wonderful ways. This is done through a range of pro8rammes. some that have been running for over 30 year5 IPeacebuilders coursel and are still going StrOr￿ and some that have been piloted for the flrst tlme In 2023 (Pea￿f￿1 Leader5hipl. In 2023: 54 programme5 were delivered 558 Chlldren and young people re￿IVed trainin8 415 new peer mediators were trained 910 sthool staff were trained. The full Peacernakers Annual Report for 2023 can be found HERE. Peace Hub In 2023 Peace Hub en8a8ed the public wlth ihemes on wami homes, con5cientlous objertion, Pea￿lu1 nelghbourhoods and climate justice. These themes drew on partnershlp5 wlth Footsteps, Blmiingham Friends of the Earth. War Reslsters International. the West Midlands WOlen￿ Redvctlon Partnership. and Brum Climate Justice Coalition. The Hub also hosted an exhibition 'Mean1[￿￿1 Textlles- Creatlon and the En￿ronmen￿ from the Westhill Endowment. which was popular with visltors. Other work which contributes to our oblectlves CEQ Is Invofved in several ÈtumÈnital and interfaith activities and has made donations to projects such as Footsteps whl¢h brlngs together people of faith to share Ideas and tske actlon on dimate change and the environment. Several CEQ members are also chaplalns. offering servlces In pdsons. hospltals and local unlversStles. Meètlngs and Branches also 5UPPOrt local and Internaiional tharltles such as food and clothing bank5. Intematlonal peace and climate change work, assistin8 asylum seekers. refugees and rough sleepers. THE CErrrRAL ENGLAND AREA QUAKER MEEnNG CHARMES TRusfEES' REPORT FOR THE YEAR ENOED 31 December 2023 I￿ntInued) Frlends and artlvltles from a¢rossthe Central England Area Quaker Mèetlng (5¢I118e fox 16J4.1691 $1 THE CETrmiAi ENGLAND AREA QUAKER MEETING CHARMES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Icontlnued} Servl¢l The trustees are responsible for the charity's governan￿ and compliance as set out in the 8overnin8 document. It requlres trustees to use the property and Income to further the area meetIn￿5 objects through for example.. strengthening the life and witness of Quaker meetin8s- maintaining and developing Quaker meeting houses as places for publlc worship and from which to carry out our wltness to thè world,. and adrninlstering and maintaining the organisation of Central England Area Quaker Meetin8. The Governing Document sets out the responsibilities delegated to trustees and defines their role and that of the Arèa and Local Meetings. One ol the trustees responsSbillties is to report annually to Area MeetinB in session $0 that Frlends can questlon and be reassured that property, finan￿, employment, and ￿COrdS are all bein8 well managed and that r15k5 are Identlfled and revlewed regularty- Trustees are alded In thls work by the Servlte commlttees for finance, property. employment, and records advlsory, eath comprlslnB members of Area Meetlng and at one or two trustees. The work and dIS￿rnment done by these Servlce Commlttees brlngs greater depth and accountablllty to the eventual decislons made by trustees. Durlng 2023 a new Serv1￿ commlttee, to be called the Lettin8s Acfv150ry Committee was su88e5ted by trustees and adopted by Area Meetin8 on 18th Marth 2023 (minute 2023.0231. During the year the service committee5 each met quarterlyi and thelr mlnutes were receSved at each trustees meèting. Matters for discernment were brought to trustees, quarterly meètin8s and, when rhecessary, th decisions were taken to Area Meeting in session for further di5cemment or for Information. Suth matters are forwarded by minute or are agreed as agenda items with Area Meetine clerks. In 2023 this included the deasion to dispose of some of our properties. The Local Meetings and Branche5 (working on Quaker concerns) are all part of the Central England Area Quaker Meeting Charity and have a significant degree of autonomy. One of the challenges for trustees is to ensure complIan￿ wlth the governing docvment of the charlty. Thls Ss done infomally by the'llnk trustees, and formally by the Memorandum of Understanding IMOUI that is completed by the sÈparatÈ bodies that make up the charity. Durlng 2023 all Local Meetlngs and Branche5 completed the checkllst to ensure the Mou between them and trustees was cornplied with. D Perforrnance and monitorin8 A5 des¢rlbed above, tru5tee5 manage the performance of the charlty through service commlttees whlch oversee flnance, property, employment, sateguardlng and records management. Llabson wlth and support lor the Lms and Branches is provlded by a'Link Trustee, who reports on key Issues vla a report to the trustees meetlng. Following the appolntment of the Pr5nclpal ¢)fflcer, who took up port In June 2022, a Scheme of Dele8atlon was developed to help darlfy roles and responsibilities. The PO role sUPPOrts the work of the trustees and their committees and seeks to undertake some of the prartlcal work prevlously carrled out by volunteer5, releaslng members to focus on the spirtiual elements of the charlty. The PO also provldes a report for each of the seyvlce committees, and trustees meetin85, hIBhlighti￿ key artlvltles, rlsks and de¢lslons whlch need to be Consldered. The Risk Re8lster wa5 updated durlng the year and Is now a standlng agenda Item at trustee meetln8S. Safe¥uardln8 The safeguarding team comprlses 2 trustees (the Safeguardlng Coordlnator and deputy Safeguardlng Coordlnatorl and the group also Include5 the Prlnclpal Offlcer. Each LM also has its own Saf￿￿ardIng Lead. During 2023 there were no formal safeguardirh8 referra15 from CEQ made tt) 51atutory a8encie5 Such as social care or the pollce. However, there were a number of events or incidents where Friends sou8ht support from the SafeBuardlng Team and one partl¢ular case whSch led to 51gnthcant Ilalson wlth agencle5 Such as the pollce and probatlon. In Sprlng 2023 baslc awareness training was facilitated by the team to approximately 100 volunteers and a safe8uardin8 audit was undertaken and annual feport prePa￿d whith was shared with trustees at the end of the year (January 20241. The AM Safeguarding Coordlnator. AM Deputy Safeguardin8 Coordinator. Clerk of Trustees and Prln¢ipal Officer ottended and completed a 31..8 online'safeguarding for Trustees, course. No Issues were escalated to the Chartty Commlsslon. The full procedure and toolklt was updated In 2023 and approved by Trustee5 at their Ortober meetin& These are available via the CEQ website. THE CETrifRAL ENGIAND AREA QUAKER MEEnNG CHAR￿lEs TRU5TEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 IcontSnuedl Finan¢ial Review Grants PoltLy The Area Meeting is not a grant-making charlty and the Items referred to as'grants. mostty consist of the gifts lfrorn central funds and Local Meetlngsl to the ¢haritWs parent body, Britain Yearly Meetin& contrlbutlons to other Quaker work. donations to non-Quaker charilies Imainly by Local Meetin8$ actin8 under cOn￿rnI and subscrlptlon5 to ecumenkal bodies of whlch CEQ is a member. In 2023 the folk*win8 donations were made from charitable funds to extemal beneficlaries l£l:_ Beneficiaries Oversea5 beneficiarie5 Non-CEQ auaker charlties 8.330 Bdtaln Yearly Meetlng 34,9CiI NonQuaker charitie5 37,340 Non-¢ha￿tIeS 500 TOTAL 81,070 • In¢ludes a £20.orx) donation to e¢obirmin8ham Iformerly a ￿a Branch but from July 2018 an independent CIO). The funds used for these purposes derlve from members, donations and investment income and not from the general public. ￿1 of the donatlons las1Ssted above) were approved at a formal business meetin& and recorded by Minute. Resen￿sPOIkY andperfornionce The reserves poliry for.the Area MeetIn￿S ￿ntral funds was first approved by trustees In Aprll 2Q)9. 11 Is regularly reviewed and was further revlsed in 2022.A copy can be found on the CEQ website. The purpose of the pollcy Is to= 31 to ensure that the chartty has adequate funds to undertake Its charltable activities and protect itself from fluctuations in income or expenditure and bl to Tea55ure CEQ members and the public that it is using ils Income for charitable work. and not accumulatlng excesslve resetves. All the.cash funds contained at least the target values, set out in the policyi on 31st December 2023. These being: General Fund: bank balance £30,000 Trustee Fund.. bank balance £60,000 Trustee Building Fund: bank balance £60.000 Most Lms and Branches a150 carry some reserve5 to cover their day to day needs and guidance ha5 been issued bv the finance committee with re8ard5 to th15, Indudln8 encouraBln8 them to develop Indlvldu31 reserves pollcles. Investment Propertles In addition to the Meeting Houses which are used by Lms the charity also has a number of other propertlÈs and land which are used for regular lettings or leased on a longer term basts to bring in additional revenue to support the charltV5 oblectlves. These are managed centially by the trustees and Prlncipal Officer. Prlory Rooms Ltd jtradlng subsldlaryl Althou8h 2023 continued to See a return to ￿pandemiC business levels for Prlory Rooms they were afferted bv transport strikes which impacted on thelr business. They also had to continue bulldSng up thelr reserves again, meaning they were unable to make any donatlons to CEQ The Servlce 4reement between the Charlty and Prfory Rooms, prevlously started In 2020, continued in 2023 and Included the provision of service5 to support 4 centrallv managed Meeting Houses. THE CENTRAL EP46LAND AREA QUAKER MEETING CHARME5 TRusfEE¥ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 l¢ontinuedl Overall flnanclal resuftsfor the year Overall 2023 has been a good year for Central Engtand Quakers with the rnajority of our Meetirw enjoying re8ular worship and witness activities. Income Is falrly eventy spllt between donations. ientals and income-8eneratSng activitles and the overall level has risen to £975,C(Q 12021 £726k. 2022 £766kl. This increase is in part due to SuC￿$Sful Brant appllcation5 by our Branches. one LM who are ralslng substantial funds for their building renovations and also the Improved performance of our investments. As we look to the fvture, we are grateful to all those who support our MÈètin8s and our project work. Our expendlture has remalned falrly conslstent wlth last year at £992,000 12021 £821k, 2022 987kl- We thèrefore report a deficit of £17,000 thi5 year compared with £220,000 In the prevlous year. Encouragingly the market value of our investments Increased thSs year and we report an overall galn of £369.(y)o for the year. We anticipate that we can further Improve thls slluatlon In the followlng years as we focus on our key prlorlties and more efficient management of resources. Our balance sheet remalns strong. at the end of 2023.. A more detaile