Regislered Company No. 695728 England and Wales Charity No. 234682 ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE TRUSTEES AND RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SFB GROUP LIMITED CHARTERED ACcOUTrANTs UNIT 8 OAK SPINNEY PARK RATB Y LANE LEICESTER FOREST EAST LEICESTER LE3 3AW
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED coilrETrS OF THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2024 Pa Company Information Report of the Directors, and Trustees, Report of the IndeperKlent Audilors Slatemenl of Financial Activities for the year ended 31 March 2024 Balance Sheel as at 31 March 2024 10 Notes to the Financial Statements for the year ended 31 March 2024
ASSOCIATION OF SERBIAN CHEThIKS RAVNE GORE IN GREAT BRITAIN LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Directors and Trustees.. M Ustic Sust D Sirovica N Novak A KrkiC N Dubaic D Buac N Vranjes S PAJdimir v11 M Ristic Secrelary: A Krle Registered Office: 29 Holland Pad( Avenue London W11 3RW Registered C<)mpany Number: 695728 Charity Number- 234682 Senior Statutory Auditor= Paul Carvell Auditors: SFB Group Limited Chartered Accountants Unit 8 Oak Spinney Pa Ratby Lane Leicester Forest East Leicesler LE3 3AW
ASSOCIATION OF SERBIAN CHEfNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE DIRECTORS. AND TRUSTEES. FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are aLso directors ol the charity for the purposes ol the Companies Act, submit their annual report and the audited financial statemenls for the year eIed 31 March 2024. The Irustees have adopted the provisions of the Statements ol Recommended Practice ISORPI "Accounting and Reporting by Charities" issued in 2(M)5 in preparirKJ Ihe annual report and financial slalemenls of the charity. The charity is a charitable compary limited by guarantee and was eStaiShed on 16 June 1961. Objectives and activities The financial assislance of all persor6 of the Serbian Race in Great Britain who are in need and who are disabled or ill as the resull of war, or aged, or orphaned, or sick, or families ol Serbian Chetniks who gave Iheir lives during World War11 in the Serbian Chetnik Movement and are in need of such help. The Serbian Ortho(lox Church and any Charitable Serbian Instilution for the furtherance of Serbian customs, culture, and L3nguage. The establishment and Maintenare of accomrnOdatn for persons of the selan Race who are ol limrted means and who are seeking refuge in Great Britain. Structure, governance, and managemenl The charity is governed by its Memorandum and ArtS of Association. The tnjstees are mindful at all limes ol The Charity Commission's guidance on public benefit. Dlrectors & Trustees The lollowng directors and trustees have held office from 1 AFXII 2023 to the date of this report.. M Uslic S Ustic D Sirovica N Novak A Krickic N Dubaic D Buac N Vranjes S dImIr V Ilic Other changes in directors holding off are as follows= D Novak- passed away ¥J September 2023 M Rislic- appointed 2 September 2023
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE DIRECTORS. AND TRUSTEES. FOR THE YEAR ENDED 31 MARCH 2024 Slatemenl of direclors. and trustees. responsibllltles The directors and Iruslees are responsible for preparing the Directors. and Trustees, Report and the financial statements in accordance with aFplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted CoUntIng Practe). Company law requires the trustees lo prepare financial statements for each financial period, which give a true and fair view of the state of affairs ol the charity and of the incoming resources and application ol resources, including the income and expenditure, of the charity for the Feriod. In preparing these financial statemenls. the directors and trustees are required to: select suitable accounting tK)licies and then apply them consistently,. obSee the methods and princiFAes in the Charities SORP: make judgements and estimates that are reasonable and prudent- stale whether applicable UK Accounting Standards have been followed, subjecl to any material departures disclosed and expiained in the financi statements., prepare the financial statements on the going ncern basis unless it is inappropriale to presume that the charity will continue in operation. The directors and trustees are respjnsible for keeping proper accounting records thal disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charity and IEnce for laking reasonable steps for the prevention and detection of fraud and other irreguL4rtties. Flnanclal revlew, achievements and perfomiance The draft accounts for the year ending 31st March 2024 are enclosed with this report. They have been audited by the accounlants and approv. If you have any queries relatiThJ to them then please contact the AsscLialion Treasurer by email al inf scr com or write to 29 Holland Park Avenue, London W113RW. In the past twelve months. the charity has managed to maintan sufficient reseNes to see through the year with year on year improvement. The Association's voluntary income has decreased by approximately £1,200 when rnpared to the previous period, April 2022 to March 2023. The London Club took the opporturwty to pay £73,000 to reduce its oulslanding debt lo £120,000. The Leicester Club continued its renlal payments in line wth the newly agreed schedule, with all loan payments up to dale. We are able to report cash receipts of £3,486 friyn the £28.400 invoiced from the Birrningham Club. Unlortunately, there were no further rent paents recetved.
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE DIRECTORS. AND TRUSTEES. FOR THE YEAR ENDED 31 MARCH 2024 Financial review, achievemen and perfomiance continued Our overall 8xpenses have increased by around £7,700 from the previous year. Our charitable expenses have increased by around £2,000 due lo Ihe return of our evenls. Al other expendilure is teing light controlled to minimi8e the risk to the Association. Tre financial situation is always a concern due to the Secto that the Clubs operate in. However, there has been a marked improvement in the business prospects of our Clubs and a retum to income generation. The situalion at the Bimiingham Club remains a conM. Notwithstanding that, the current wospects are very positwe. Charilable oblts We have pursued our charitable oiyects in Ihe follon9 ways this year: The annual inter aid payment was paid in Dember 2023 to our retired and eldedy memters and to our WKk)ws. We have conlinued to contribule lo the produclion of the Inkemational knsl Srbija newspaper. We have again prowded parcels of food and drink to our veterans to lift their spiri15 and sW them that they are remembered by the Assooiation. We have prov•Jed for new tradttional costumes for our folklore group Avala. We helped womote a number of historical books including Broken Wings over Zlatiboi We hosted the following key Association evenls in 2023-24.. Djurdjevdan, Srpski Dan, Drazin Dan. Karadjordjevdan and Dan Dinarske Cetnièke Dwizije. Statement as to dlsclosure of Inlommtion to the Audilors We, the directors, and trustees of the company who held office at Ihe dale of approval of these Financial Statements, as set out above, each confim so lar as we are aware. that- there is no relevant information of which the company s auditors. are unaware- and we have taken all the steps Ihal we ought to have taken as directors and trustees in order to make ourselves aware of any relevant inlormali)n and to establish that the company s auditors are aware ol that infomatK)n.
ASSOCIATION OF SERBIAN CHEtNIKS RAVNE GORE IN GREAT BRITAIN LIMrrED REPORT OF THE DIRECTORS. AND TRUSTEES. FOR THE YEAR ENDED 31 MARCH 2024 Auditors SFB Group Limtted were re-appointed audtlors to the company and li accordance with section 487, ol the Companies Act 2006, a resolution proposing that they be re-apF(Jinted wrll be pul al a General Meeting. This report has been prepared in accordance with the special prowsions ol Part 15 of the Companies Act 2006 relating lo small MPanies. 7th September 2024 This reprt was approved bythe Board on................. . D Buac Prestdent A Krickic Se(xetary Tre rer
ASSOCIATION OF SERBIAN CHEfNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE INDEPENDEKf AUDrroR'S TO THE TRUSTEES AND DIRECTORS OF ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED Opinion We have audited the financial statements of Association ol Serbian Chetniks Ravne Gore in Great Britain Limited for the year ended 31 March 2024 on pages eight to Ihirleen. The financial rep)rting framework that has been awlied in Iheir weparation is applicable law and United Kingdom Accounting Standards (United KirMJthm Generally Accepted Accounting Practice applicable lo Smaller Entiliesl, including Financial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland-. In our opinion the financial statements- give a true and fair view of the state of the company's affairs a9 al 31 March 2024 and ol ils proh'l lor the year then ended- have been properly preparetl Thi accrxdance with Untlgj Kingdom Generally Accepted Accounting Practice FRS 102 as aFplicable to Smaller Entilies- and have been prepared in accordance Vth the requirements of the Companies Act 2006. Basis of opinion We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilEties under those standards are further described in the Auditors, responsibilities for the audit of the financial stalemenls section of our report. We are independent of the company in accordance the elhical requirements that are relevanl lo our audit of the financial statements in the UK, includirKJ the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibi5ities in accordance with Ihese requirements. We believe that the audit eviden we have obtained is sufficienl and akl)ropriale to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concllkded that the directors. use of the going concem basis of accounting in the preparation of the financial slalernenls is appropriate. Based on the work we have wfomied, we have not idenlffied any malerial uncertainties relaling to events or conditions Ihal, individually or collectively, may cast signilicanl doubt on the company's ability lo continue as a going concem for a period of al least I1ve months from when the financial slalemenls are authorised for issue. Our responsibilities and the respJnsiÈilities of the directors with reSpt lo ooing concern are dèscriked wi the relevant sections of this report. Other inforrnation The directors are responsible for the other infomiation. The other infomiation comprises the information in the Repjrt of the Directors Trustees, t does not include the financial staléments and our Rert of the Auditors thereon. Our opinion on the financial slatements does not cover the other information and, except to the extent otherwise explicilly staled in our rert. we do rt 8xpr8ss any fomi ol assurance conclusion Ihereon. In Connection with our audit of the financial statements, our responsilility is to read the other information and, in doing so. consider whether the other nfomialion is materially inconsistent wth Ihe financial statements or our knowledge obtained in the audit or otherwse appears to be materially misstated.
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMrrED REPORT OF THE INDEpENDEr AUDITOR'S TO THE TRUSTEES AND DIRECTORS OF ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRrrAIN LIMITED If we idenlify such material IOnsiStenC1eS or apparent material misstaternents, we are required to detemiine whether this gives rise lo a material misstalemenl in the financial statements theMSee$. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to rewrt that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audil- the inforrnalion given in the Report of the Directors and trustees for the finan¢id year for which the financial statements are prepared is consistent with the financial statements- and the ReF)Ort of the Directors and Trustees has been prepared in accordan with aFplicable legal requirements. Matters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course ot the audit, we have not identified material misstatements in the Report ol the Director5 and Trustees. We have nothing to report in respect of the folbwirwJ matters where the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or returns affjuale for our audr( have not been recewed from branches not wsiled by us. or the financial stalemenls are nol in agreement wtt) the accounting records and returns; or we have not received all the inlormalion and explanations we require for our audit- or the rfireclors and Iruslees were not entitled to prepare linancial slalements in accordance with the small companies regime and lake advantages of the small companies. exemption from the requirement lo prepare a Strategic Report or in preparing the Rewrt of the Directors and Trustees. Responslbllltles of dlrectors As explained more lully in the Stalement of Directors, Responsibilities set oul on page two, the direclors are reswnsible for the preparation of Ihe tinancial 51alements and for being satisfi that they give a true and lair view, and for such intemal control as the dire(aors delem)ine necessary to enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial slatemenls, the directors are reswnsible lor assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going Conrn and using the going concem basis ol accounting unless the directors either Inter to liquidate the company or to cease operations. or have no realistic aeMate but lo do so. Auditors, responsibilities for Ihe audit of the financial statemenls Our objectives are to obtain reasonable assurance athut whether the financial statemenls as a whole are free from material misstatement, whether due lo fraud or erTor, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level ol assurance, bul is Thjt a guaralllee that an audit conducted in accordance wth ISAS IUKI will always detect a material misstatement when tt exists. Misstatements can arise from fraud or error and are ¢onsidered material if, indNidually or in the aggregate. they could reasonabty be expected lo influence the economic deLi8ions of users taken on the basis of these financial stalements.
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED REPORT OF THE INDEpENDEr AUDrroR'S TO THE TRUSTEES AND DIRECTORS OF ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED The extenl lo which our procedures are capable of detecting irregularities. includiro fraud is detailed low.. enquiry of management around aclual and tentIa litigation and cL4ims: - erouiry of management to Kleniily any Instan of non-compliance with laws and regulations., - reviewing minutes ol meetings of those charged wth governan. reviewing financial statement disclosures and testiivJ to suppK)rting documentation to assess compliance Mth applicable laws and r&Julations-, performing audit woth over ihe risk of management override of controls. including testing of journal entries and olher adjustments for approrxialeness, evaluating the business rationale of significant transactions outside the notmal course ol business and revIeng accounting estimates for bias. Because of the inherenl limitations of an audit, theTe is a risk that we will not detect all irregularilies, including those leading lo a material misstatement in the financial slatemenls or non-compliance with regulation. This risk increases the more thal mplianCe with a law or regulation is removed Irc the evenls and transactions reflected in financial stalemenls, as V wll be less likely lo come aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, foigery, collusion. omission or misrepresentalion. A further description of our responsibilities for the audit of the financial stalements is located on the Financial Reporting Councifs website at www.frc.org.ukJaudilorsrespor6ibililies. This description foms part of our Report of Ihe Auditc. Use of our report This report is made solely lo the company's members. as a b. in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has en undertaken so that we might slate lo the company's MemerS Ise matters we are required to slate to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we cb not accept or assume responsibility to anyone other than the company and the companys members as a EJ)dy, for our audit work, for this report, or for the opinions we have formed. Paul CaNell BFP FCA (Senior Statutory Auditor) for and on behalf of- SFB GROUP LIMITED Chartered Accounlanls Unil 8 Oak Spinney Park Ratby Lane Leicester Forest East Leicester LE3 3AW 9th September 2024
ASSOCIATION OF SERBIAN CHEtNIKS RAVNE GORE IN GREAT BRITAIN LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Year to Year to 31.03.2024 31.03.2023 Note Incoming resources Voluntary Income Calendars Newspaper donations Subsciiptions Miscellaneous Cullural asso¢ialion events 30 3,096 1,515 886 3,775 30 4,520 2,100 617 3.240 9.302 10,507 Incoming resOUe9 Irom renl and covenants from clubs Serbian Chelniks Ravne Gore In Great Britain Club Limited Serbian Chelniks {Leicester) Club J&NN Properties knmited 24.000 28,400 18,000 28,4ao 52,400 46,400 Other Income Interest recetved 255 Tolal incoming rv30urces 61.957 56,907 Resources expended Charltable activities 38,331 36,370 Governance costs 3.130 2.784 Other resources expended 29,030 23,622 Total resources expended 70,491 62,776 Nel expenditure for the year 18,5341 {5,869) Funds brought forward 943.074 948,943 Transfer VMD reserve lund Funds carried forward 13 934,540 943.074
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED 10 BALANCE SHEET AS AT 31 MARCH 2024 Note 31.03.2024 31.03.2023 Fixed assets Tangible assets Investment propety 136,795 485.859 136,795 485.859 Current assets Cash at bank and in harKI 136,092 61,904 Debtors 48,970 49.446 Credllors: amounls falling due within one year 10 17,780) 13,503) Net current assets 177,282 107,947 Total assets18ss current Ilabllltles 799,936 730,601 Outstanding club balances Leicester London 14,604 120.000 19,473 193.000 134.604 212.473 934.540 943,074 Financed by.. - General reserves VMD reserve fund 921,985 12,555 930,519 12,555 Aecumulated reserves 13 934,540 943,074 The directots trustees acknowledge their respjnsibilities for ensuring that the company keeps accounting records which Comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state ol alfars of the company as at the end of the financial kEriod and of its profit or loss for the financial perKJd in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 retaling to accounts. so lar as appIable to the company. These financial statements have been prepared in accordance with the provisions applicable to companyes subject lo the small companies. regime within Part 15 of the Companies Act 2006 arvj th the Financial Repoiting Standard 102, as aFflicatde to small companies. 7th September 2024 Approved bythe Board for issueon............................. M Uslic Treasurer and Director Company Registration No. 695728
ASSOCIATION OF SERBIAN CHEThIKS RAVNE GORE IN GREAT BRITAIN LIMITED 11 NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 MARCH 2024 Constitution The Association of Serbian Chetnhs Ravne Gore in Great Britain Limited is a registered charity whose purwse is sel out in the 0.eCtiveS and activities section of the Directors, and TTuslees' Report on page 2 lo these financial statement& Accounting policies lal Accounting ¢onvenlion and basis of preparation The financial slatements have been prepared under the historical cosl convention, with the exception of investments which are included al market value. The financial statements have been prepared in accordance wlh the Charities SORP IFRS 1021-Accounting and Reporting by Charities-. Statement ot RecommerKled Practice {SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland. Financial Rewrting Standard 102 Yhe Financial Reporting Standards aK¥)licable in the UK and Republic ol Ireland" a1 the Charities Act 2011. The financial statwnents have been prepared under the historical cost convention. Ibl Company status The company is limited by guarantee. The members have a limited guarantee of 25p in the event of the company being wound up. Icl Fund accounling General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general obj'ectives of Ihe tharity and which have not been designated for other purposes. Idl IncomSng resources All incoming resources are included in the Stalwnenl of Financial Aclivilies ISOFAI when the charity is legally entitled to tF income and Ihe amount can be quantrfied with reasonable auracy. For legacies, enlitlement is the earlier of the charity being r()tified of an impending dislribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed lo the projects. Gifts donated for resale are included as incorne when they are soki. Donated facilities are included at the vdue to charty where this can be quanlrfied, and a third paty is bearing the cost. No amounts are included in the financial Statents lor services donated by volunteers. (el Resources expended All expendilure is accounted for on an accruals basis and has been classified under headings that aggregale all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to acttvities on a basis consistent with use of the resources. {1} Tangible flxed assets and depreclatlon FTeehold propety is not depreciated as market values are consideied lo exceed cost. The directors and trustees consider Ihal the departure from the general requirement ol the Companies Act 2006 for all tangible assets to be deFlated. is necessary lo give a true and fair wew.
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMITED 12 NOTES TO THE FINANCIAL STATEMETrS FOR THE YEAR ENDED 31 MARCH 2024 (g) Inveslment Property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is re¢ognised in profit or loss. Income The company's income comprises subscriptions. rent and covenanted income from clubs. Taxation Analysis of the lax charge - No liabilty to UK Corwralion Tax arose on ordinary aclivities for the year ended 31 March 2024. Charitable activities Year to Year lo 31.03.2024 31.03.2023 Humanitarian d(atIOnS Cultura] section Church donations & semces AGM Costs Membershp Costs 18,866 13,801 490 4,836 338 19,382 11,616 482 4,486 404 £ 38,331 £ 36,370 Governance costs Year to Year to 31.03.2024 31.03.2023 Audtt and accountancy £3.130 £ 2,784 Auditorfs remuneration payable 2024 was £3.336 {2023: £3.1001 Other resources expended Year to Year lo 31.03.2024 31.03.2023 Running costs Leicester dub London club Bimiingham club Legal and professional Miscellaneous Office stationery Printing Travel expenses Wreaths 9.900 15 5,000 4.761 11.285 539 147 731 474 535 7,682 5.533 520 622 1,247 3.006 520 £ 29,030 £ 23,622
ASSOCIATION OF SERBIAN CHETNIKS RA VNE GORE IN GREAT BRITAIN LIMITED 13 NOTES TO THE FINANCIAL STATEMENTS FOR TrtE YEAR ENDED 31 MARCH 2024 Flxed assets- Tangible assels Freehold Pr Cost Al 01 April 2023 £ 136.795 Net Book Value Al 31 March 2024 £ 136,795 Flxed assets Inveslment Propw1y Investsnent Pro er Cost Al 01 April 2023 £ 485,839 N8t Book Value Al 31 March 2024 £ 485,839 Investment propety is disclosed at fair value each year and is currently still based on the vauation on 12tr May 2020 by Walton & Hipkiss in accordance with the RICS valuation Global Standards 2017. Debtors: Amounts lalllng e wlthln one year Year lo Year to 31.03.2024 31.03.2023 Debtors control account Serbian Chetniks (Leicesterl Club Other Debtors Deed of Covenant (London Clubl 25,933 5,248 7,285 25,066 5,248 3,480 £ 38,466 £ 33,794 Amounts falling due after more than one year: Serbian Chetniks (Leicesterl Club £ 10,504 £15,752 Aggregate amounts £ 48,970 £ 49,546 10 Creditors: Amounts falling due within one year Year lo Year lo 31.03.2024 31.03.2023 Trade creditors Accrued charges 403 3.100 3,336 £ 7,780 £ 3,503
ASSOCIATION OF SERBIAN CHETNIKS RAVNE GORE IN GREAT BRITAIN LIMrrED 14 NOTES TO THE FINANCIAL STATEMETrifs FOR THE YEAR ENDED 31 MARCH 2024 11 Trustee and director expenses The Iruslees and directors are not paid for their SerVeS allhough are rmburSed for travel other expenses. 12 Related Party Transactions Th& charity has incoming resources via rent and covenanls in respect of the following entities: Year lo Year to 31.03.2 24 31.03.2023 Serbian Chetniks (Leicester) Club 24,000 18,000 13 Accumulated Reserves Profit and Loss Account Funds al 1 Awil 2023 Nel income lor the year 930.519 {8.5341 General reserves 921,985 VMD reserves 12,555 Funds al 31 March 2024 934,540 14 Limited by Guarantee The company is lirnited by guarartee. The rnembers have a limtted guarantee of 25p in the event of ihe company being wouThJ up.