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 cl￿ncIl 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 off￿cerS 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¢hI0￿m¢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
an￿1n& 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 DO￿5, 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 requirem￿t$ 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 cont￿liOn wilh the
examination Biving me cause to believe:
aLYountin8 records wete tM)t kqjt in resp￿1 of the charitable cotnpany as required by 8￿tIOn 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[n￿l thatthe ac¢ounl8 &ive a ttue and fair view which is not a mattercon8id¢r¢d as pirt of an Ind￿end¢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 Ch￿111¢& {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 Cor￿cct10n 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
Ind￿elldent 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 Inte￿5t
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.

Fr1e￿s01thesOYth Downs
Flnandal #aternentsforthAyearendod
JI Dtt*Thk*r 2Q24
thirity￿￿11rn￿r￿ nU￿r..z￿J29
Compinynurnbgr..319417
B•l•nce sheet
FL*d
I￿￿tMEnts
734.743
C￿rM￿lIS1
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
Lkniettrtctedfi￿d5
859,911
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ondwhlch Othern￿le comly*ilhthe rt4uliementsolthtC(xnVrMos￿* 2(*)fj ril4tlwiplnwKl•l 5t•tEmintr,
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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¢rrknnre￿lthA[￿UntrnÉ Aewrting ￿ Char*ieJ.' *•tementof Aeiornfflendcd Prgttice15QIPI agpl￿ble io
Art 2￿6. Assets bnd lihbilit*$ are initK411y retoirtls*d athtstQr￿alcoltortrInslCtloNVAIUÈUM￿5S Dtherwsèstated in th¢ attOuntlnÉ rA)IiCY nottlsl.
bl PreparJiiDn of the accounts ona iolni concern ba515
ThetW5tee5 Jreof the¥1thvt￿i the Soc￿ty 15 a I￿￿8 concern.
¢1 IncDmÈ rei0inrt￿Tr polkle5
Item5 Of Income 0￿ r•coinls•d and included in the4CCOUntS ¥¢hen all olthe lollow1￿Criterta 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 m*15ured reliJtsly.
Grwni In¢om• Is rr4dlted In PToPUrt￿n lo thq ¥fflowtol t•l•vani •ndqlliltsl• Inthi wrfod.
lhe whlrhthe 15 0wiret￿r prob•t• h•5 tffln ir¥thd..
• Iht esi•ieh•$ bèEn fln611sed h•$ been rn*Je bythe t￿(￿lorI￿1 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.
DoD*tod s•rvlres orfjcll￿Ic5 •re ierwn15ed Ji 1D¢omtwhen tht5oriYly h45 ¢4ntrol•vtT the Ilwp, rondlllw5 P53ocl•IEdw￿h thtdoTr4tsd Iiffffl h•ve beeh
mtt, the rtttiptdf tC4Th0ml¢ btntflt Irom the u$e by the Society tyllhe iiÈm is probablt ènd Thatte¢Aom* b*nelll tan ￿ measured ¢ÈliIb￿. On recelpt,
servlcttAnd fatiiitlÈsareretoÈtlisÈd tsn thè bas1* olthèvaluÈ of The lift to thesociety which IS thÈ amr>Dnt thÈSQClÈiY would h￿e wlllingtr>ptyTO f>btalrt
leNk￿Or l•illlllesoloqulvalenttconumk b￿n￿lI1 thv open rniikit., 4 corTe5wndini 4mwnt15 Ihth recll8n15ed lneXpEnthtur￿ In thewrlod ol iwlpt.
Inle￿1 on lunds held ondep051t Is IrKludedwhpn rpr•lvJbk •nd tb•¥mountc•n b•rnuiurRd Fdl•blybytheScclety,- Ihl%1s norffj•lty upon hoill**llon of th•
Interest pald Dr p•yable ￿the holdlnl In5tltutiOn.
Unre51rbrled lundsarE IV•ll•blttO 5p•nd on OCt￿ltIeS t*Jtfurrher4nyol the wrpuse5 Df the50el•ty. D•51iDat•d lund5 •r• unrestrfrted fufflds olthe SorlEty whlrh
IheTru5tee5 hwe dEclded Jt the1rdlsc￿knn 10 5ef aslde to useforaspe<ffl< purguse. RE5fTkted lund5 DredonètSon5 whlchthedoncr h45 5PEcllled afE ro be
Joldv yspd foi p3rtlcul4r wrpose5.
Il Expendltureand Ir1ec￿r￿￿evAT
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 rel￿bly. Exwnditure 15 c1•55lfled underthelolbwiniacttyii¥headln85'.
• Co5rs of ralslD8 lund5 Include rnembershlp 5er¥lces and purch45ini merchandlse.
Expenditufeun tharitjble vc1￿11* 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 expendi￿re
was I￿vrred.
hl Illocatlon ol 5UPPOrtcost5
p￿rt 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 predepreC￿ted ovprthelresrirnated useful ￿0￿orniC1￿5 ona strJlihtllnp basls
owei their u5elul live5. Afflyofflceequipmenl 4bo¥e the £l.LWthre5hold sdegfeciaied Lwerlouryeai5.

kl Iniiestments
lfflvestrnents are valued * m4iket¥alueat tbe¥earend.
11st￿k
Anystock Is Induded at the lowerol costornet reallsable Yalue.Affly thnated Items 015tock are recoenised recelpt Itfalrvjluéwhlch i51he ¥mountthÈ
Scclety would hJvebeenwlll1￿10 pJ¥forthe Stemon the open market,
ml Dtbto¢s
Trade and otherdebtorsafe recogn￿ed4tthe seitlernentamDuntdue therartytr4dedI5COUntoffeied. PrePa￿￿nts￿le¥I1￿d4ttheafflount yepald thEr
ts*lni aCco￿nI of anytradedlscounts due.
n) Cash atbarnk ènd In hand
Cash * bènk and cash in hafyj Inc￿02S￿$hand short term Ibjuld Ir￿￿t￿entS wlth &Jhort rnawrlty of three rnonth5 or knfrom thedJteof JcqulsiDon or
openlni olthedeposltorslmllai account.
CredttDt5 and provlslons4rÈ recaonbed whErethH Suchty hasa pr*￿￿ta￿lI6￿t1On rawlUnB Iromi pa5t•v•rttthatwlll P(0￿￿¥ rgsult In thg translef of fundsto
th￿rd wrty ondihe¥mouni duetosethetheotsliioiion ¢•n be me4sureJ ote5tiM•IEd rliabty. cred￿r¥ •nd provision$•it hofmtsl￿ rel￿nISed atthtlr
Se￿e￿nI Imo￿￿ ofterallowlD8 lor iny irad•dlS¢aunis duè.
pl FlTrHnc￿1 InStrum•nts
Th¢￿¢4*t¥￿n1¥ has Iln•n¢141 ossets •n4 fin•nc￿lIIIbl1bIIes ol a klnd th4t1￿411Y ès baslt Ilmnc￿I instiuments.

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