The Stsssex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report and Financial Statements for the Year Ended 31 December 2023
The Sussex Cattle Society {A Company Limited by Guarantee) Charity Number 238662 Index to the Financial Statements for the Year Ended 31 December 2023 Legal and Administraiive Information Report of the Council of Management Report of the Independeni Examiners Staremenr of Finan¢¥al Activities Balance Sheet Notes to the Financial Statsments Profit and Loss Account 16
The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report and Financial Statements for the Year Ended 31 December 2023 Legal and Administrative Information for the year ended 31 December 2023 Constitution: The Sussex Cattle Society is a Company Limited by Guarantee and a regT'stsred chariry governed by its Memorandum and Articles of Association. Charity Number.. 238662. Company Number.. 0031031. Members of Council: These are appoin in accordance with the Articles of A$50ciatson of the company and such members are directors of zhe company for the purposes of the Companies Act 2006 and trustees of the ¢hArity The Members of Council during the year under review were". Mr R Dunn President Mr W Hurley Depury President Mr PJ Holds£o¢k Pasc President Ms J Howard Chairman Mrj Harmer Vice Chairman Mr E Harmer Co-opted 2020-2024 Mr J Hickman Co-opred 2020-2024 Mrs B Hide Co-opted 2022-2026 Mr R Horsman Co-opted 2021-2025 Mr D Mastsrs Elecced 2023-2027 Mr W Peters Co-opted 2022.2026 Mr L Snelgrove Elecced 2022-2026 Mr D Spanton Co-optsd 2021-2025 Mr D Scevens Co-opted 2022.2026 Mr S Wright co.opted 2021-2025 Eletted 2023-2027 Co-opted 2021-2025 Secretsry.. Miss SG Kennedy Registered Office.. Station Road, Roberr5bridge. East Sussex Bankers.. National westmlnsr Bank. Ha5ting5 IA) Branch, Havelock Road, Hasting5, TN34 IGW Independent Examiners.. Mccabe Ford Williams. Sratutory Auditors & Chartered Accountants, B2nk Chambers, 61 High Stree( Cranbrook. Kent Solicitors: 'nklacers & Paines, Barrington House. 59-67 Gresham S¢reeL London Page I
The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Year ended 31 December 2023 Your Council is pleased to present their reporr with the financial sratements of the company for the year ended 31 December 2023. The financial Staments comply with the Companies Att 2006. The Charities Att 201 l and the sEemen[ of Recommended PracEice, Accounting and Reporting by Chariiies (Effective l January 20151. Charitable Objectives The Memorandum and Arricles of Association sets out the charitable objettives for which The Sussex Catde Sociecy is established. They can be summarised a5 follows- To maintain the puriry and improve the breed. Policies to Achieve the Objertives The Council of The Sussex Cattle Society Uses two main initiatives to pursue the main objectives.. i. The publication of The Sussex Herd book. The book is published annually and Volume 127 was published in 2023. 2. Promoting the breed by exhibiting at various shows and events and advertising. Organisation of the Charity The Chariry is organised a5 Set out in the Memorandum and Artycles of Association. The control of its affairs is in the hands of a Council and Members of CoLJncil are appointed in accordance wiih rhe terms of the Memorandum and Articles of Association. Miss Kennedy, being the only person on the payroll. fdrries out the day.to-day running of the Charity. Review of 2023 Frnan¢es: The Society continues to remain 5rable with general administration cost5 kept co a minimum. Fees will generally be increased annually in line with inflation dependenc on the Society's financi21 status. The Society's monetary assets are now all inVesd in COIF Charity Investments as appropriate. Sufficient assets are held to maincain the S¢xiery for several years and to publish the Herd Book and promote the breed. it is felc that plentiful reserves should be maintained to re.e5tablish the breed if there should be a significant loss of breeding cactte outside the Society's conrrol. The Council continually assesses the financial sratus of the Society and suives to ensure that the promotions and publicicy leve15 are maintained or increased. Membership: Ac the end of the year there were 123 full, 31 a550ciate and 26 life and honorary members. HerdL' During the year 8 new breeders joined the Society. Changes of Ownerships were mad< the majority to recently established herds. It is pleasing to no that new herds being established tend to have greater herd sizes than those being dispersed. The national herd of registered Sussex Cattle is now in excess of 2,500 breeding cow5, Wlth che number of female giScrat10nS per annum being in excess of twelve hundred. The registration database "Pedigree Plus" has continued ro improve rhe process of regi5tra¢ion5 as breeders are able to make birth returns online via Ihe Society's website. Page 2
The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Year ended 31 December 2023 continuèd Shows and Sales: No Society Shows & Sales were held. A Sussex d2y was held in Ashford Market in April. There are currently insufficient vendors and animals co make it V13ble to hold a Show & Sale on a specific. stand alone day. Many vendors and purchasers have indicated that they prefer to condutt saleslpurchases privately off farm due to the restrittions of catcle health Schemes. The online Bull Catalogue has proved very successful with some 5rock changing hands within 24 hours of being advert15ed. Ic is planned to hold an on.line sale in conjuncuon with SoLtth East Marc5 and MartEye in the Spring of 2024. Annual General Meeting: The AGM vrds held on I l th April 2023 at Ashford Market. The agenda and Yoting paper5 were sent out to members and votes were counted and the resolutyons passed. Mr R Dunn was elected President and Mr W Hurley elecced Deputy President. Members of Council: The Members of Council are aPpoind in accordance with the Memorandum and Articles of A550ciauon. At a meeting immediacely following the Annual General Meeting. Ms J Howard was elected Chairman and Mr J Harmer elected Vice Chairman. Council continued to throughout the year in person and via Zoom. Reserves Policy: It 15 rhe wlicy of the charity w maintain unrestritted funds. which are the free reserves of the charity, at a level that equate5 to approximately one year of un$trIc0d expenditure. This ought to provide sufficient funds to cover the day-to4ay running costs in addition to ensuring the publication of the herd book in progress. Breed Promotion: This year the Stsciety vras able ro have a promotional sond at Heathfield. Suffolk. South of England, Royal Norfoll Kent and Edenbridge Shows. LIrature and information was sent in resnSe co enquirie5 by lephone and email throughout the year. The website is updated as required. A presence is maintained on FaceEx)ok. A Breeders. Directory was produced. Additionally there was advert15ing in the famiing press as part of an ongoing campaign to promote the breed. The Bull Sale Caralogue was continued giving an online presence for breeder$ 10 marker bulls privately. The car2logue was a150 promoted in the farming press. Risk Management The Council ha5 examined the major strategic. business and operational risks which the Charity faces and confirms that sysiems have been esrablished w enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. Generally the greatest risk to which the Society is exposed 15 beyond its control and lillked to Government andlor EU policy and regulations. Page 3
The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Yèar ended 31 December 2023 continued Public Benefitr. The directors, as trustees of the company have complied with the duty in settion 1715} of the Charities 201 I co have regard to the public benefit guidance published by the Charity Commi$5ion. To this end the Society made information on the breed, its history and its place in modern agriculture freely available to the general public through px)5tal. online and tslephone queries, in addition to the website and at various events during the year. Additionally. the Society had information stands including live examples of the breed at educational events at South of England Showground where several thousand children had the opFy)rtuniry to be given information and to ask questions. Free infomiation packs were also sent to any students making enquirie5. The Society concinue5 to ensure that Ehe appropriate Ovdnisations are also aware of using the breed as a contriburor to the MainnanCe of environmentslly 5en51tive areas. A publication 15 also available to give gjidance on the management of the breed, exhibiting and breeding practice in addition to providing local instruttional sessions as requested. The website now includes 3 section on the purchase and cooking of beef for the consumer in addition to a list of outlets where Sussex beef may be purchased dirett from che ProdCers. Training and informacion days will continue to be held offering advice and instrucvon on the breed and ways in which the breed can be advanced. The Sociecy wll continue to strongly Promo the use of data ¢ollertion through Signet Beeforeeder to assist in breed improvemenL A group specific to younger members 'Su55ex Cattle Next Generation" are holding meetings and training events. Statement of Directors, Responsibilities: The director$ are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial ststements for each financial year. Under that law the director5 have elected ro prepare the financial ststements in accordance with Unitsd Kingdom Generally ACCePd Accgunring Practice {United Kingdom Accounting Standards and applicable lawl. Under company law the direttors must not approve rhe financial statemenfs unless they are satisfied they give a true and fair view of the state of the company and of the profil or loss of the company for that period. In preparing those financial statements, the directors are required to select suitable accounting policies and then apply them consistently-. make judgments and estimate5 that are wsonable and pruden prepare the financial statements on the going concern basis unless it is inappropriate to presume thai the company will continue in business. The directors are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the finan¢ial Staments comply with the Companie5 Att 2006. They are also sPO51b1e for safeguarding the assets of the comtAny and hence for taking reasonable steps for the prevention and dececiion of fraud and other irregularities. Statement as the Disclosure of Information to IndèpÈndent Examiners: So frdr as the direcEors are aware, there is no relevant information (as defined by Section 418 of the Companies Act 20061 of which Ehe company's independen£ examiner5 are unaware and each direcror has taken all the steps that they ought to have raken as a director in order to make themselves aware of any relevant information and to esrabli5h that the company's independent examiners are avore of that informacion. Page 4
The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Year ended 31 December 2023 continued Independent Examiners: The independent examiners, McC3be Ford Williams. will be proposed for re-appointment at the forthcoming Annual General Meecin& This Reporr has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to sm211 companies. On Behalf of the Boa enne Secretary: Date: 13 March 2024 Page 5
The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report of the Independent Examiners to the Members of The Sussex Cattle Society I report on the accounr5 of the Company for the Year Ended 31 December 2023, which are $et out on page5 7 co 15. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law} are responsible for the preparatyon of the accounts. The charity's trustses conssder that an audit is not required under section 144121 of the Charitie5 Act 2011 ("rhe 201 l Act") and that an independent examinaiion is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my re5ponsibility'. to examine the accounts under section 145 of the 201 l Act., to follow the procedure5 laid down in the General Direttions &iven by the Charity Commissioners under section 145{Sllbl of the 2011,. to state whether particular matters have corrbe to my attention. Basis of independent examiner's report My examination v4as carried out in accordance with the General Direttions given by the Chariry Commi5sioner5. An examination include5 a review of the accounting records kept by the charity nd a comparison of the accounts presented wirh chose records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanation5 from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence thar would be required in an audiL and consequently no opinion is given as to whether the accounts preseni a 'true and fair view. and the report 15 limited to those marrers Set out in the statements below. Independent examiner's statement In connertion wth my examination. no marrer has come to my attention- l) which gives me reasonable cause to believe that ir any material respect the requirements to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006,- and to prepare accounts which accord with the accounting record5, comply with the accounting requirements of Settions 394 and 395 of the Companies Att 2006 and with the methods and principles of the Accounting and Reporting by Chariries.. Statement of Recommended Prattice applicable co charities preparing their accounts in accordance wth rhe Financial Reporting Standard applicable in che UK and Republic of Ireland IFRS 102) (effective I lanu3ry 20151 have not been mer.- or 2) to which, in my opinion, attention should be drawn in order to enable a proper un erstanding of the accounrs to be reached. March 2024 obbyer FCA Mccabe Ford Williams Statutory Auditors and Chartered Accountants Bank Chambers 61 High Srreet CRANBROOK Kent TN17 3EG Page 6
The Sussex Cattle Society Charity Number 238662 Statement of Financi Activities I Income and Expenditure Account for the Year Ended 31 December 2023 Beefrjreeders. Contlngency Support Promotion Fund Total Funds Tot Funds General Members. Note Fund Fund Fund 2023 2022 Income and Endowments from". Subscriptions 3nd Donations Other Income Investmeni Income 12.938 46,109 5,547 43.946 6.405 43,946 6.405 Totsl Income and Endowments 63.768 63.768 64,594 Expenditurè on: Charitsble Expenditure Management & Adrnini5tratK>n ol the Charity 58,813 58.813 47,080 18,2n 18.2n 12.873 Tot Expenditure 77.085 77,085 59.953 Net Incomelexpenditure before gains on investments 4,641 Net gn$l(loSseS} on investments Realised ILos51 on In¥e5trnEnt Asset Unrealised GainllLos$esl on Investment Assets 14,229 4,229 123.867) Net incomelexpendirÈ 912 119,2261 Transfers between ndS Trdnsfer to Beefbreeder Support Fund Net Movement in Funds 119.2261 Réconclllatlon of funds Total funds brought forward 231338 3.917 240.755 259,9BI Total lund5 carried fon¥ard 233,250 4,500 3,917 241,667 240,755 The note5 lorm part ol the financial st3tewts
The Su$$ex Cartle Society Charity Number 238662 Balance Sheet as at 31 December 2023 31.12.23 31.12.22 Note Fixed A$$et$: Tangible assets Investments 13,379 191,076 11202 176,848 204.455 189,050 Cuent A55ets: Stocks Debrors Cash at bank and in hand 772 4.989 36,919 41680 965 12.275 42,618 55,858 Creditors: Amounts falling due within one year 5,468 4,153 Net Current Asset$ 37,212 51.705 Total Assets Less Current Liabilities: 241,667 240,755 Funds: Beefbreeders, Support Fund Contingency promotion fund Life members, fund General fund 4,500 3,917 233,250 4,500 3.917 232,338 241.667 240.755 These financial sfatemenr5 haye been prepared in accordance with the provisions ol Part 15 01 the Companies Acc 2006 relating to smill Copanies. The financial stateMts were approved by Council on 13 March 2024 and signed on its behalf by Jane Ho an john justin Harmer Vice Chairman Page 8
The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statemènts for the Year Ended 31 D¢¢¢mber 2023 l. Statutory Information The Su55ex Cattle Society is a private company, limitrd by guarantee. regiSred in England and Wales. The company's registered number and regi5rered office addres5 can be found on the Company Information page. The presentation currency of the financial statements is the Pound Sierling 1£). 2. Accounting Policie5 Accounting convention These financial sr3tement5 have been prepared in accordance with the provisions of Section IA "Small Entities" of Financial Reporring Standard 102"The Financial Reporting Srandards applicable in the UK and Republic of Ireland" the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Sratement of Recommended Practice applioble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeccive l Ocrober 20191. and the Companie5 Acr 2006. The financial Statements have been prepared under the historical cost convention as modified for the valuation of investments at market value. Income Income is recognised in the financial statements on an accruals basis. ayarr from investment income, which is recognised in the financial Statements when received. Expenditure and cost allocation Expendirure is accounted for on an accruals basis and has been classified under headings that dgSate all cost related to the category. Items of expendicure that involve more rhan one c05t category are apportioned on a just and reasonable basis. Investments The investment5 have been included in the financial statements at market value. Cash at bank and in hand Cash at bank and in hand includes curreni and deposit account5 held at banks arid COIF Charities Investment Fund. Taxation The company has charFtable 5ratus and 15 not liable for taxacion. Directors No member of Council received any remunerdtion during the year. Gift Aid It is the policy of the Sociery 10 recognise the intome tax recovery once the claim has been 5ubmicted. Page 9
The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2023 Tangsble fixed assets Depreciation is provided at the followng annual ra5 in order to write off each asset over its estimated useful life. Freehold property Equipment Computsr equipment not provided 15Yty on a reducing balance 3 years on a straight-line basis Freehold property The Society's freehold building is not depreciated. Its expected residual value at the end of its useful life 15 considered to be substantially in exces5 of it5 book value of £9.977. The properry is currendy insured for £230.016. Stocks Srock 15 walued at the lower of cost and ner reali5able value. after making due allowdnce for obsolets and slow moving items. Contingency promotion fund The Contingency promotion fund represents sufficient funds set aside to promote the breed at major 5how5 *n the event of insufficient monies being raised in any year. Life Members, fund The life members, fund represen¢5 sufficient funds set aside to provide benefits to life members in the evenr of insufficient monies being raised in the year to do so. Life membership subscripcion5 are included in the toral in the financial Starnents in the year of receipt. Beefbreeeders, Support Fund £ I 0,000 vras transferred into this fsjnd on its incorporation in November 2012 to encourage the society. breeder5 ro uke up Signet Beefbreeder membership. A discount on Capitation Fees will be paid retrospectively for breeders who rake up the membership, the discouftr co recognise weight recording and scanning. A further £10.000 was trnnsferred during 2018. In 2022. the Society berdn to pay £3,000 per year for Signet Beeforeeder membership, and mernbers of the Society can enjoy free membership of Signet Beefbreeder. This fund has reduced to £nil and no funds will be tfdnsferred into the SL¢PPOrt Fund for rhe foreseeable future. Fund restrictiOFb All of the funds are unrestrlcd. Pension costs and other p05t-retirement benefits The company operates a defined ctsntribution pension scheme. Coniributions payable to the company, pension scheme are charged to profit or loss in the period 10 which they relate. Page 10
The Sussex Cattle SocKety (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2023 Significant estimates and judgèments In the application of the Trust's accounting policies. the Tru5tee5 are required to make judgements, esrimites and assumptions about Ehe carrying value of assets and liabilitie5 that are not readily apparent from other source5. The estimates and underlying a55UmPtions are based on historical experience and other factors that are considered relevanL Actual results may differ from these estimatss. The estimates and underlying assumpuons are reviewed on an ongoing basi5. Revisions co accounting estima% are recognised in the period to which the estima is revised if the revision affects only that period or in the period of the revision and future period5 if the revision affe¢L% both current and future period5. The key sources of estimation uncertainty that have a significant effett on the amounrs recognised in the financial statements are the depreciation raie and residual values of fixed assets. The Tru5tee5 consider that the depreciatyon rate and residual values are appropriats. Going Concern The Trustees consider chac rhe Trusi will be in 3 position to meet its financial obligations for the foreseeable future and that there are no material uncertainties relating to going concern. Page I I
The Sussex Cattle Society Charity Number 238662 Notes to the Financi Statements for the Year Ended 31 December 2023 Other Income 31.12.23 8,175 31.12.22 Herd book entries Prefixes Herd Book & sundry sales Transfer fee5 Herd capitation Show and sales commis$ions Semen projec( Gift Aid Herd competition 12141 4,140 30.338 2,224 30,396 750 1,383 277 46.109 1,543 43.946 Charitable Expenditure 31.12.23 31.12.22 General Fund 24,898 163 24,425 21837 102 14.666 1,020 1.638 1,077 2.185 1.250 382 Travelling expenses Promotions and publicity Herd Bot>k printing Semen project Signet Sub$idy DNA ¢tIng Herd d#ob#se Depreciation Loss on disposal 1.878 1,000 504 58.813 45,157 Beefbreeders. Support Fund Signet Subsidy 1,923 1,923 Total 58.813 47,080 Management and Administration ofthe Charity 31.12.23 31.12.22 2,538 3.208 5,237 1.890 Salaries Office costs General office costs Accountancy and audit Bad debES 2,767 3,406 9,700 399 18.272 12.873 P2ge 12
The Sussex Cattle Society Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2023 Income and Expenditur¢ The incorne and surplu5 are attributable to the charitable activloes of the company 3fter charyn¥. 31.12.23 31.12.22 Depreciation- owned assets Los5 on disposal AccountanrlAudi1or's remuneratyon 504 382 2.000 1,890 Tangible Fixed A$sets Frèehold Property Equipment Totals Medals Cost: At I january 2Q23 Additions Disposals At 31 December 2023 27.678 9.977 17,501 1,681 15251 18,657 200 15251 28,834 9,977 200 DepreciatTron: A¢ I january 2023 Charge for year iminated on di$posal At 31 December 2023 15.476 504 15251 15,455 15.476 504 15251 15,455 Net BoolL Value: 31 December 2023 13.379 9.977 3,202 200 31 December 2022 12,202 9,977 2,025 209 The freehold property owned by the Charity was valued at £195,670 by Lambert & Ftsster in December 2023 and is currently insured for £230.016. Page 13
The Su55ex Cattle Society Charity Number 238662 Notes to the Finahtial Statements for the Year Ended 31 December 2023 Fixed As$et Investments Cost or Valuation: At I Janu 2023 Addition$ Di5P05a15 Gain on revaluauon 176,848 14.228 Loss on disposal At 31 December 2023 191,076 Net Book Value: 31 December 2023 191,076 31 Decetnber 2022 176,848 31.12.23 31.12.22 Market Value of Inve5¢ments list on recognised sttsck oxchange 191.076 176,848 The oriynal cost of rhe investments was £140,000131 December 2022 £140.(XX)I Stocks 31.12.23 31.12.22 Stock of promotionil IEem5 772 965 10. Debtors: Amounts falling due within one year 31.12.23 31.12.22 Prepayments Trade debtors 2.144 2,845 1,947 10.328 4,989 12,275 Page 14
The Sussex Cattle Society Charity Number 238662 Notes to the Financial Ststements for the Year Ended 31 December 2023 Creditors: Amount5 falling due within ont year 31.12.23 31.12.22 Trade creditors 5,468 4,153 5,468 4,153 12. Employee Costs 31.12.23 31.12.22 Salaries and wages National insurdnee Pension 26,862 24.631 744 27.665 25,375 The 2¥erage number of employees during the year Yfds I. Trustees Remuneration The trustees I not remunerated and have hid no payments for expense5. 14. Related Party Transactions There are no related party tran5attions durlng the year. Pen$ion Commitments The company rÈached its stagng date lor Auto Enrolrnent on l February 2017. Contributions by the company were £80312022 £7441. At the year end ernp1oyer contributions ol £nil 12022 £nill had not been paid across to the scheme. 16. Limited knability The company is Limited by Guarantee. The wtsrd"Limited" is omitted by Licence ol the Board of Trade. The company ha$ no share tapita1 and rhe liability of the members is limited. In the event ol the company being wound up the liability for each member shall not exceed 11. Page 15
The Sussex Cattle Soclety Charity Number 138662 Profit and Loss Attount for the Year Ended 31 December 2023 31.12.23 31.12.22 Income: SubKriptions and donatK)Tr5 Herd book entries Prefixes Herd book & sundry sales Transfer fees Herd capitation Shows & 5ale5 commissions Export certificate5 and sales le¥y Semen project Gift Aid 12.938 8,175 80 4,140 30,338 2.224 30,396 80 1,543 750 Herd competition account 277 57,363 59.047 Other Income: Investment income Deposit account interest 4.997 5.237 310 6,405 63.768 5.547 64.594 Expenditure: 26.862 803 24.631 744 102 3.208 5.237 1.890 Pension Travelling expenses Office costs General office costs Accountancy and audit Bad debts ProrTlOtIOn5 & publiciry Herd Book printing Semen project Signet 5ub5idy DNA testing Herd d>Eabase 3,406 9,700 2,000 399 24.425 1.144 1,878 3,000 14.666 1.020 1.638 3.000 2,185 1.250 1.0 76.581 59.571 5.023 Depreciatlon.. Equipment Loss on disposal 504 382 504 382 Net Profitl{Loss) 4.641 This page doe5 not form part of the statutory financial sraiement5 Page 16