Friends of the SOUTH DOWNS Prolecilng ihe beauty of the Downs for over l 00 years FRIENDS OF THE SOUTH DOWNS FRIENDS OF THE SOUTH DOWNS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Registration Number 230329 Company Number 319437
Annual Report of Trustee5 and Director$ 2024 Re8iStered Office: 3, Swan Court, Station Road, Pulborough, West Sussex RH20 IRL Telephone- Q1798 875073 Email.. enquirles@friendsofthesouthdowns.org,uk Website: www.frlendsofthesouthdown5.org.uk President: I Vice-Presldents Peter Harris and Gerard Ryan KC. Patron.. Lord Egremont 8uslness Members.. Albourne Estate, Feet and Motion, Landmark Systems, Langhams Brewery, Nyetimber Vineyard, Pied a Terre Adventures. Rosemary Eatherden, So Sussex, South Downs D15covery, Su55ex Funeral Service5 and The White Hart, Stopham, Members of clncIl durln8 2024 (The Charfty Truste?s and Olrectors of the Companvl ' David Green Paul Wilkinson David Sawyer Chairman Vlce Chalrman Elected june 24 Elected June 24 Re51gned a5 Chalrman June 24 313 313 313 Patrick Haworth Andrew Lovett Nick Isaac Caroline Douglas janet Goody Martln Small Paul Gilchrist Elected May 24 Indicates actual and posslble number of Councll meetlngs attended. 313 313 1/1 313 313 313 213 Treasurer Resigned May 24 Resi8ned December 24 Staff at 31st December 2024: Team Leader Marketln8 Mana8er Social Medla Coordlnator Jenny Nayler Linturn Elolse Philllps Bankers: CAF Bank Ltd, 25 Klng5 Hill Avenue, Kings Hill, West Mallin& Kent ME19 41Q PO Box 358 Barclays Bank plc, North Street. Brighton BNI ISF Independent Examiner of the accounts.. David Wheeler. Cheeld Wheeler & Co. Redhill Chambers, 2d High Street, Redhill, RHI IRJ Investment Managers.. Cazenove Capltal Management, 12 Moor8ate. London EC2R 6DA Representatives on significant external bodie5 as at 31 December 2024 Campaign for National Parks.. David Green South Downs Network.. Martin Small
The trustees, who are also directors of the charitable company forthe purposes of the Companies Act 2006, present their annual report. The financlal statements of the charity for the year ended 31st December 2024 are available on the Companies House website at www.companieshouse.8ov,uk. The trustees have adopted the provislons of the Statement of Recommended Practice ISORPI'Accounting and Reportin8 by Charlties" issued in 2019. This report ha5 been prepared in accordance with the speclal provlsions of Part 15 of the Companies Act 2006 relating to small companies. Structure. Governance and Management The Friends of the South Oowns is a company limited by guarantee under the Companles Acts Inumber 3194371 and a registered charity Inumber 2303291. The name of the company and charity chan8ed from South Downs society during 2022. The Articles of Associalion were last revlsed at the Annual General Meeting on 7 November 2020. Membershlp of the Frlends is open to all. Membershlp on 31/12124 was 1386. The Council Is responsible for the management of the Friends and for settin8 It5 Strategic directlon. Its membership consists of the Treasurer and up to 12 ordinary members who are elected at an AGM. The Treasurer Is elected annually, but may be re-elected, whllst ordlnary members are elected for three years, after whlch they may be re-elected. Members are invited to become trustee5, by the Chairman, in the Down5man magazine and in the monthly e-news. Applicants are Intervlewed by the Chaimian and one other trustee. The names of members of the Councll servlng In 2024 are shown on page 2. Slnce then, two addltlonal trustees have been co-opted, Tony Whltbread and Henrietta Lacey-Gutsell. They wlll go forward for formal electlon at the 2025 AGM. New members of Council are provlded wlth relevant Charltv Commission publlcatlons and offered a one-to-one briefing. The Frlends have three committees which are appointed annually. These are the Plannin8 and Conservatlon Committee which co-ordinates the work of District Officers in advisin8 on developments in their area,. the Access and Rights of Way Committee which provides 8uidance to the team of Area Access offcerS in considering access and rights of way issues,. and the Membership and Marketln8 Commlttee, whlch aims to increase the membership of the Frlends and is responsible for fund ralslng and member events. A large team of volunteers perform a variety oftasks, including belng commltteÈ members. District Offlcer5, Area Access Offlcers, walk5 and stroll leaders and providing admlnistrative support. Objectlves and Actlvltles The Frlends, objective 15 to conserve and enhance for the public benefit the beauty and amenities of the South Downs in and withln the vicinity of the South Down5 National Park. We are the only membership organisation dedicated to conserving and enhancing the beauty and amenities of the South Downs National Park. We work hard to improve access to the park and take an Informed interest In planning policy and planning applications.
As well as providing a comprehensive programme of walks and strolls, we take a special interest in access, ri8hts of way and other park initiative5, both in the Park and In the immediate area. The Monday Group, based in Ditchling, are replacing stiles with gates, which the Friend5 help to fund. A project to provide seats made of oak and with various designs at regular intervals along the South Downs Way has achieved seven Seats to date. We a150 run projects to encourage the interest of children in the South Oowns and for the last couple of year5 we have worked c105ely with Brl8hton Unlversity, providing encouragement for envlronmental students wlth prlies and an m.sc prolert. The trustees believe that all these attivitie5 ensure that we fulfil our duty In sectlon 4 of the 2006 Charltie5 Act to have due regard to the public benefit guidance published by the Charity Commission. A¢hI0m¢nt1 and Porform•nce The hlgh158ht of 2024, the Frlends. IOI. year, was the CNP Conference whlch we hosted at Bri8hton Unlverslty In mld September. before the students returned. The feedback we received was very positlve. The speakers were good, the atmosphere was friendly and constructive, our emphasls on workln8 wlth young people seemed to strlke a chord and the fleld trlp on the final morning, which was a safarl to Knepp Estate was even blessed by sun. It was thè culminatlon of a lot of Work by the trustees and staff, a real team effort, orchestrated by David Sawyer callln8 on all his experience in project mana8ement. Durlng the year we.. Not only contlnued to run Qure$tIn8proIects encouraging children to learn about the Down5, but expanded them, xithat we now have a programme which I think we can feel lustifiably proud of15ee below) Contlnued to respond to plannin8, transport and access155ues Isee belowl Contlnued to provlde a full walks and strolls programme, encouraging many onto and around the Downs on walks and strolls that provide a warm welcome to newcomers and regulars alike. Our projert to fund the replacement of stiles with ki55ing gate5 on paths in the National Park has continued, working closely with the Monday Group. Thls projert affords manv less moblle walkers easler access to more popular paths in the Park. Work continue5 Wlth the provision of oak benche5 on the South Downs Way. Seven benche5 bove been installed thu5 far. The challenge now is to finish the project, dealing with the stretch between Ditchlin8 and Eastbourne. There has been change on the staff front during the year. Alison Isaac, our Offlce Manager sjdly left, as did Laura Llbrlcz, our Soclal Media Coordinator. We have though been very fortunate to retaln Gill Linturn, our Marketing Manager and to recruit fantastlc replacements in Jenny Nayler as Team Mana8er and Eloise Phillips as Social Media Coordinator. They have quickly gelled into a very effective team offering invaluable 5up.port to trustees and member5.
Planning and Consenrntlon The Planning and Conservatlon Commlttee 15 tasked with monitoring all planning activitv a¢r055 the Natiorbal Park. This is done throu8h a network of District officer5 (Dosl. all Friends and volunteers Covering the majority of the Park's 170 or so parishes between them, Unfortunately, with the retlrement of some of the DOS, there are 23 parishes without a dedicated DO, but we try to keep an eye on those too. Each week the Natlonal Park Authority INPAI publishes separate Ilsts of plannlng application5 received and validated, decisions made, and appeals determined. Over a year the NPA receives approximately 4,000 applications. Of those, we usually only comment on a small proportion,. those identified by the DOS as potentially affecting the spetial qualities of the Park, or as being of significonce for its local communities. That is where the local knowledge of the 005 IS vital. Over the past year we have not had any major developments, but those on which we have comrnented would have had, in our view, unacceptable effects on the natural beauty, wildlife or cultural herita8e of the Park. We were disappointed that the NPA approved the application for the redevelopment of the former Lewes bus statlon wlthout. In our vlew, adequate alternative provision havin8 been made a5 required by the relevant Local Plan policy. We therefore added our 5UPPOrt to the request to the secretary of State to call the appllcatlon In for her own determlnatlon after the NPA resolved to grant perm1551on, but unfortunately to no avall. We submltted comments on the Government's proposed reforms of the National Plannin8 Policy Framework, seekin8 to ensure that the protectlons afforded wlthln the Framework to Natlonal Parks remalned Intact or were strengrhened. The next challen8es are to respond to the National Park Authorlty's revlews of both the South Downs Local Plan and of Its Partnershlp Management Plan. Access and Rlghts of Wav Oef ra has announced that the cut off date of 2031 to register lost rights of way is to be removed. Ramblers, Open Spaces Soclety and CN P have campaigned for thls for sorne tlme. Our stron8 relationship with the Monday Group fundln8 the replacement of stlles with kissing gates in East Sussex continues . Up to nlne stiles have been identlfled for replacement in 2025. County Councils are under continuing pressure to make savlngs in their bud8ets. They may seek more funding from organlsatlon5 Such a5 FSD to maintain the rights of way network and for more work to be carried out by volunteers. Thank you to our member5 for the work they do. New volunteers are always welcome. The proposed re-organisatlon of local government and the current uncertalnty as to what will happen is likely to have an impact on all areas of local government, including the ri8hts ofway network. The Supreme Court's judgement in the Darwall case relating to wild camping on Dartmoor is not expected for some months. Membershlp and Markellng The purpose of the M&M Committee is to increase our membership and wider profile, to organise member events and to raise funds - so that we can continue to achieve our
charitable oblectlves. Our membership declined slightly in 2024, but less than is the case with many other Natlonal Park Societles. We contlnued to grow our social media presence and completed the branding of our alcove in the Pump Barn at Seven Sisters Country Park, explainlng our work to their lar8e number of visltors. On events, we organised a number of well-attended talks, in¢ludin8 one at Saddle5combe Farm and another jointly with Friends of Chichester Harbour. Finally, we reviewed the eurrent effectlveness of our website, which will result in a major'face lift, in 2025. Walks and Strolls In 2024 we continued to provide an extensive walks and strolls programme acr055 the whole len8th of the South Downs, Some of our walkers walked over 1,000 mlles just bv walking with us. One of the features of last yearfs programme was walkln8 5ectlons of the Sussex Border Path. This year It Is to be the Greensand Way, a scenic 108 mile route stretchlng from Haselmere in Surrey to Hamstreet In Kent. Thanks to the Walks Coordinator, lan Lancaster and Strolls Coordinator, Mick Heywood for their ongoing work Sn producln8 the programme and to all the leader5. The start of this year has seen the beginning of a trial collaboration wlth Rambler5 Heart Healthy Strolls, focusln8 on Rowland5 Castle and Fmsworth areas in Hampshirelwest Sussex border. We currently have vacancles for stro115 leaders and It hoped the collaboration will help strengthen the strolls pro8ramme. Educallon And UndefStandln8 The trustee5 have a8reed that one of the key ways In which the Frlends can safeguard the South Down5 In the future is to encourage the interest of children and youn8 people in the hope that they will get to know the landscape and culture and look after it when they are older. The Frlends have set up the projects de5crlbed below with that objectlve. South Downs for All is a project, largely funded by the National Lottery Herita8e Fund, to introduce children to the landscape and culture of the South Downs. The flrst stage of the project involved ei8ht schools in Sussex and was completed in 2024. The Second stage involved Hampshire schools and started in that year. The schools have higher than avera8e numbers of the less well-off and ethnic minorities: groups seen less in the natural envSronment. The children's work from the first Stage wa5 featured in a book "A year In the life of the South Downs" We also produced four heritage trail leaflet5 on wildlife, archaeo108V, the ciwl war and folklore. We rontributed £IO,OQO of a total cost of about £70,000 for the first 5ta8e. The budget for the second stage is £85,700 and we are contributln8 E15,000. webslte carrie5 the content of the projert: htt southdownsforall.or Explorers of the 5ouih Downs is another project aimed at introducing children to the South Down5. In 2024 we have donated E20.000 to the South Downs National Park Authorlty who arranged about 40 fieldtrips forchildrenat locations in Sussex and Hampshire. Again, the focus was on schools with children le55 likely to know the Downs.
No dblld left behind 15 a Youth Hostels Association scheme to enable children who don't normally vislt the countryslde to stay overnight In a youth hostel. We donated £12,000 to enable two 5choo15 to enjoy this experience on the South Downs. Servlces for members The Downsman magazine and the monthly E-News keep members informed of the Frlends, activities and concerns. 2024 saw us increase our social media presence on Insta8ram and 81ue5ky at the expense of Facebook and X. Ourteam of staff are assisted by many volunteers who ensure the smooth runnlng of the Friends. Flnancl•l ievlew and reserves pollcv The Friends uses its flnantlal resources to help achieve its charltable oblectlve of ¢onservln8 and enhancing for the public benefit the beauty and amenities of the South Oown5 in and around the South Downs National Park. Durlng 2024 Income exceeded expendlture by £31.47112023: deflclt of £28,058), principally a5 a result of receivin8 legacies totallin8 £83,566. The market value of Investments rose by £27,58512023: rlse of £17,7611, re5ultlng In an overall increase in funds of £59,05612023: redurtion of £10,297), At Ihe year end total funds stix)d at £918,96812023.' £859,912). The Frlends malntalns Sts funds at a level to provlde Income to support actlvltles which would not othenNlse be affordable and to fund prolects whlch are con515tent with its obJectlves. Conduslon 2024, the first year of the Friends, second century, was one of change. David Sawyer stood down after seven year5 a5 Chair. We owe him a lot. Two ofour three staff have moved on, but they have both been replaced. We have had a full pro8ramme of events, including hosting a successful CNP Conference, We can lay claim to a good relatlonshlp wlth the SDNPA, CNP and other public bodies. We are reaching out to a younger generation through social media. As we look forward, It 15 with real confidence. If we haveto temper itwith an1n& it needsto be wlth sadnessand thanksforthe life of a remarkable Downsman. Richard Reed. RKhard died early in 2024. Hewa5 a memberforover 75 year5. He Yts5 Chairon r) lessthan three occaslons. He was a 8reatcampaEnerforthe DO5, a thOrOuth nKe man and will be Ereat missed by all who knewhim.
ststement of nnemberfs Responslbllltles The members of Council are required to prepare financial statements for each financial period which give a true and fair view of the state of the Friends's affairs at the end of the flnancial year and of net Incomlng resources forthe financial year. In preparing those ftnanclal statement5, the tru5tee5 are required to select Sultable accountin8 policies and then applythem consistently: and make jud8ements and estimates that are reasonable and prudent. Trustees are responslble for'.- al Keeplng proper accountln8 records which dlsclose wlth reasonable accuracy at any tSme the financial posltion of the Frlends and enable them to ensure that the financial statements comply with the relevant Statute: bl Safe8uardin8 the assets of the Friends and hence fortakin8 reasonable steps forthe preventlon and detection of fraud and other irre8ularlties,' and cl Preparln8 the financlal statements on a going40ncern basis unless it Is inapproprlate to assume that the Frlend5 wlll contlnue to operate. Approved by the Councll on Aprll 7th 2025 and s18ned on thelr behalf by David Green Chair
Frlends of th¢ South DoTrvng Independent examlner's report ror the Year Ended 31 December 2024 Independent ex8mlner's report to the trustee$ of Frlends of the South Downs ('the Charitable Comp8ny') I report to the charity trustees on my ¢xamination of the accounts of the eomp4tLy for the year ended 31 DeLember2024. ResponJibllitle5 aud basis of repor¢ As thc charit$ tru¥tee5 of the charitsbl¢ company (and also its directors for the purp08es of company law) you arc responsiblc for the preparation of the accounts in acwrdance with the requiremt$ of the Companies Act 2006 ('th¢ 2(1)6 Act,). Having satisfied myself that tlLe acccKu)ts of the charitable company ar¢ oot T¢quired lo be Audited undcr Part 16 of the 2th)6 Act and are eligible for independert aminatiO I report in respect of Jny examination of your ch8ritablv company'5 accounts as ¢arri¢d out under section 145 of the Charities Act 2011 Cthe 201 l Act,). tn c8rying out my examination I have followed the Direction5 given by the Charity Commission under swlioD 145(5) (b) of ihe 2011 Act. Indep¢nd¢nt examlner's statement I hav¢ wmpl¢¢ed tlly examination. l nriMI that matter5 have come to my atlffltion in contliOn wilh the examination Biving me cause to believe: aLYountin8 records wete tM)t kqjt in resp1 of the charitable cotnpany as required by 8tIOn 386 of ihe 2006 Act: or 2. the accounts th) not ac¢ord with Iho8e e0rd5' or 3. the accounts do not Lxjmply with the accounting TL4uirernenl5 of 5¢clion 396 of the 2006 Act other than any require[nl thatthe ac¢ounl8 &ive a ttue and fair view which is not a mattercon8id¢r¢d as pirt of an Indend¢llt examillation,. ur 4. thc accounts hav¢ not been prepared in accordance with the methods and prinGiples of the Slatement OE Recommended Practice for accouming and repnrting by Ch111¢& {applicablc to charitie5 preparing th¢ir accounts in accordanc¢ with th¢ Financial Rq>orting Standard &pplieablo in the UK (FRS 102)). I have no concerns and have come across no othermatters in Corcct10n with th¢ examination to wbich attattion should bc drawn in th[8 report in ord¢r to uwble a prr)per understsnding of the acwunts to be relleh. David Wheeler FCCA Indelldent Examiner Cheeld Wh¢¢lcr & Co Chart¢r¢d C¢rtifi¢d Accountpnts Redhill Cbambcr5 2d High Street Redhill Surrry RHI IRJ Dat¢.. 7 April 2025
Friends of the South Downs Statement ot Hnancial Activities (including income and empenditure account) For the year ended 31 December 2024 2024 2023 Notes Total Totul Income from: Subsc¥iptions, donatlons and1È8acles Charitable actlvities Other trading acltlvltles Investments and Inte5t Total 127,637 21,702 1,508 41,522 192,369 87,933 19,638 715 38,604 146,890 Expend5ture on: Raisin8 funds Charitable acivilies Total 24,503 136,395 160,898 21,131 153,817 174,948 Net Incomellexpendlturel 31,471 (28,0581 Other recoznlsed 8alnslllossesl GainsllLossesl on Investment assets 27,S85 17,761 Net movement In funds 59,056 flO,297) Reconclllatlon of lunds Total funds brought forward 859.912 870,209 Total funds c•rri¢d lorw•rd 918,968 859.912 The Statement of financlal actlvities includes all 8ains and105ses reco8nised In the year. All Income and expenditure derlves from contlnulng actlvltles. All funds are unrestri¢ted.
Fr1es01thesOYth Downs Flnandal #aternentsforthAyearendod JI DttThkr 2Q24 thirity11rnr nUr..zJ29 Compinynurnbgr..319417 B•l•nce sheet FLd ItMEnts 734.743 CrMlIS1 957 8,3SO 162,477 Oebtcrfs 45h •lbwik an¢ Inhthd ity I7L711 134.132 140,J32 12 144 J4S i1&640 J25,2&9 91&961 Fundi Lkniettrtctedfid5 859,911 offlyDwls•y•rytfrrnih•rtWTemEtiLirdiNnito Ir Th7lTtyvlT•dthvcvmpinytoobl4ln•niudl¢ofltiiccounli forth•yè4iln qU•ytn tr1C•wIlh ts8ttltsn4YGotihiCUmnkn1ct20)1. anl of $[uS0 dÈfftc foi fln•n¢lJlyeBrkn4c£vthnc¢with the requlrementsof 5e(twmi394oDd 395 ondwhlch Othernle comlyilhthe rt4uliementsolthtC(xnVrMos 2()fj ril4tlwiplnwKl•l 5t•tEmintr, SDfai aJthy4ro ip*•hlth¢ rllrnp4nv. Grq• 07 Aprfl 2•
FA•nds •fthl 5•uth Downs NotAS MthA IlnAnclal %tstkni•Atg Foy thewrende031 Otcernber2024 l toU11t1 Pdkles The prin(iwl 4trouniinE poli(iES adoptedJ 5wrcey of E5tytn4tipn Intheoreparation of thefln6nti615t6lementsart45 fol.. al Df preparltlon The finan¢ial st6lemtnts hwE bpen preporEd In B[c¢rrknnrelthA[UntrnÉ Aewrting CharieJ.' •tementof Aeiornfflendcd Prgttice15QIPI agplble io Art 26. Assets bnd lihbilit$ are initK411y retoirtlsd athtstQralcoltortrInslCtloNVAIUÈUM5S Dtherwsèstated in th¢ attOuntlnÉ rA)IiCY nottlsl. bl PreparJiiDn of the accounts ona iolni concern ba515 ThetW5tee5 Jreof the¥1thvti the Socty 15 a I8 concern. ¢1 IncDmÈ rei0inrtTr polkle5 Item5 Of Income 0 r•coinls•d and included in the4CCOUntS ¥¢hen all olthe lollow1Criterta are rnet.- The Society h•s entttlement tDtheluDds', any performancecondthns attached to the Itemls) of Income ha¥e been MK r>1 acelully wiihln the controloltheSocl•w-, th•rÈ IS Suth¢ltni (ert4lnty thairttelpi ol th• Ineom• i&wn&hlertd Wo., • theamwniiryh m15ured reliJtsly. Grwni In¢om• Is rr4dlted In PToPUrtn lo thq ¥fflowtol t•l•vani •ndqlliltsl• Inthi wrfod. lhe whlrhthe 15 0wiretr prob•t• h•5 tffln ir¥thd.. • Iht esi•ieh•$ bèEn fln611sed h•$ been rnJe bythe t(lorI1 to ihe So¢ltty that wd151rfbuYon wlll te mide., ot • when i dlstflbuttOTh Is re¢eived from ihe eststè. celptvf 4 lrynry, In Who otlh Nrt, IS Ohtycwslder protsèbléwh¢nih••mount£•n bt ro¢•suied ieii•blv •nd ihe S0¢ty h4$ btrn hQtlfle4 ¢f the •xe¢utorfs Inientlpn tv make4 dbirlbutk>n. Incomef•¢elv•d In •dv•nci pf th• piovlsloh olip•¢lll¢l S¢• dIf1rT4d uhtll Ih•¢rti•rl• loi In¢otM rKoihlUon •¢• m•t. DoDtod s•rvlres orfjcllIc5 •re ierwn15ed Ji 1D¢omtwhen tht5oriYly h45 ¢4ntrol•vtT the Ilwp, rondlllw5 P53ocl•IEdwh thtdoTr4tsd Iiffffl h•ve beeh mtt, the rtttiptdf tC4Th0ml¢ btntflt Irom the u$e by the Society tyllhe iiÈm is probablt ènd Thatte¢Aom bnelll tan measured ¢ÈliIb. On recelpt, servlcttAnd fatiiitlÈsareretoÈtlisÈd tsn thè bas1 olthèvaluÈ of The lift to thesociety which IS thÈ amr>Dnt thÈSQClÈiY would he wlllingtr>ptyTO f>btalrt leNkOr l•illlllesoloqulvalenttconumk bnlI1 thv open rniikit., 4 corTe5wndini 4mwnt15 Ihth recll8n15ed lneXpEnthtur In thewrlod ol iwlpt. Inle1 on lunds held ondep051t Is IrKludedwhpn rpr•lvJbk •nd tb•¥mountc•n b•rnuiurRd Fdl•blybytheScclety,- Ihl%1s norffj•lty upon hoillllon of th• Interest pald Dr p•yable the holdlnl In5tltutiOn. Unre51rbrled lundsarE IV•ll•blttO 5p•nd on OCtltIeS tJtfurrher4nyol the wrpuse5 Df the50el•ty. D•51iDat•d lund5 •r• unrestrfrted fufflds olthe SorlEty whlrh IheTru5tee5 hwe dEclded Jt the1rdlscknn 10 5ef aslde to useforaspe<ffl< purguse. RE5fTkted lund5 DredonètSon5 whlchthedoncr h45 5PEcllled afE ro be Joldv yspd foi p3rtlcul4r wrpose5. Il Expendltureand Ir1ecrevAT ExpBndlture 15 reco8nlsed once there15 a saI or con5tructlveobll8allon to make a payrnenll0 4 thlrd It Is piob3ble thii settlement wlll re4uSred ind the arnouni of theobliiotloncan be rnea5ured relbly. Exwnditure 15 c1•55lfled underthelolbwiniacttyii¥headln85'. • Co5rs of ralslD8 lund5 Include rnembershlp 5er¥lces and purch45ini merchandlse. Expenditufeun tharitjble vc111 illElude5 thec05t5 ttf 4(tiwfies undertaken to furthÈrthepuwe of theSociÈty at)d thdr/ssociAiedsupwrtcasts OthEreApenLlture iepresent5 those ThS not lalllD8 lfflto Jny other heJdlre. Ir(Over1 VAT15 charydas a c05tiyln5t th? ?1¥fOrWfv1Chthe expendire was Ivrred. hl Illocatlon ol 5UPPOrtcost5 prt C05ts3retb05e functlon5 that a551sttheworkof the 5ocleiy butdo noi dlrectty ynderrakecharbtable actlvltSes.Support C0515 Includp backofniecosts. flnanretr Fersonnel. payrolland iovernance costswhlch supportthe Soclety'schJrltJt4? wrp05es. Thesec05ts hove been allocoted beN¥e?n colt ol ra151n8 funds dexpevdiwreon charltable actwities The bJse5 on whSrh 5UPPDrtC0515 hwE been allocated are 5etout ID nOte7. Tttefent on Socletyscfficg atswan Court PulborouBh15charBed at afixed arnount peryear. 1}Tan81b fixed J55ets Any Indlvidu?Iflxed a55et5£05fiDE £I.OWorffloreare capira115ed at C05t ?nd predepreCted ovprthelresrirnated useful 0orniC15 ona strJlihtllnp basls owei their u5elul live5. Afflyofflceequipmenl 4bo¥e the £l.LWthre5hold sdegfeciaied Lwerlouryeai5.
kl Iniiestments lfflvestrnents are valued * m4iket¥alueat tbe¥earend. 11stk Anystock Is Induded at the lowerol costornet reallsable Yalue.Affly thnated Items 015tock are recoenised recelpt Itfalrvjluéwhlch i51he ¥mountthÈ Scclety would hJvebeenwlll110 pJ¥forthe Stemon the open market, ml Dtbto¢s Trade and otherdebtorsafe recogned4tthe seitlernentamDuntdue therartytr4dedI5COUntoffeied. PrePantsle¥I1d4ttheafflount yepald thEr tslni aCconI of anytradedlscounts due. n) Cash atbarnk ènd In hand Cash * bènk and cash in hafyj Inc02S$hand short term Ibjuld IrtentS wlth &Jhort rnawrlty of three rnonth5 or knfrom thedJteof JcqulsiDon or openlni olthedeposltorslmllai account. CredttDt5 and provlslons4rÈ recaonbed whErethH Suchty hasa prtalI6t1On rawlUnB Iromi pa5t•v•rttthatwlll P(0¥ rgsult In thg translef of fundsto thrd wrty ondihe¥mouni duetosethetheotsliioiion ¢•n be me4sureJ ote5tiM•IEd rliabty. credr¥ •nd provision$•it hofmtsl relnISed atthtlr SeenI Imo ofterallowlD8 lor iny irad•dlS¢aunis duè. pl FlTrHnc1 InStrum•nts Th¢¢4*t¥n1¥ has Iln•n¢141 ossets •n4 fin•nclIIIbl1bIIes ol a klnd th4t1411Y ès baslt IlmncI instiuments.
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