AMBERLEY MUSEUM AMBERLEY MUSEUM & HERITAGE CENTRE Registered Company Number 01402483 Trustees, Report & Consolidated Accounts 31 December 2023 The King's Award for Voluntary SeThiof grant funding obtained for a r3nge of different piojects. During 2023 there was some changeover in core staff, providing opportunities to recruit to new roles focused on key areas of need and development. A Collections and Evenls Assistant started in lune 2023 to help develop the events programme to betteralign with the museum and its purpose. At the end of the year, the opportunity arose to recruit for a part-time Health & Safety Officer, and a part- time Events andvenue Hire Manager wtEh a remil to develop those income stre3ffl5 for the charity. During 2023 several essential maintenance and repair projecls were completed, including the replacement of the steps on Billingshurst Signal Box, repairs to roofs across the sile, and repainting of the bus garages. Much ofihi5 w35 achieved thank5 to generous financial support from the Friends of Amberley Museum and the Southdown Omnibus Trust. The staff and volunleerteamcontinued to deliver an excellent experience to visitors. scoring 829/0 in the Visit England assessment in summer 2023. A number of new initiatives were introduced to add to the visitor experience. including a series of additional experiences for groups and regular Discovery Days looking at lesser-known parts of the museum and its collection. Volunteers With a small team of 12.5 full time equivalent staff. the Museum continued to be heavily reliant on the volunteer team. Volunteers look alter the collections, share their knowledge with visitors, run the daily bus and train services. maintain the site and help with administration. Visitor feedback confirms thal it is interaction with our dedicated volunteer5 that is a key part of successful visits and we are incredibly grateful lor iheir contribution. During 2023, the new Volunteer Manager. who started in May. worked hard to build up the volunteer numbers. reaching over 4(K) by the end of 2023. Effort5 were also made to engago with corporate groupsto offer micro volunteering opportunities. which has proved very benelicial to the museum. Late in 2023. it was announced that Amberley Museum had beerb granted the King's Award for Voluntary Seivice. This hard-to-achieve award is a just national recognilion of the enormous contribution made byour Volunteers. A presentation of the Award was made bythe Lord Lieutenant of West Sussex. Lady Emma Barnard ear￿ in 2024. Learning ANNUAL REPORT2023 PAGE16 AMBERLEY MUSEUM & HERITAGE CENTRE Formal and informal learning visits increased in 2023 with over 3,(KM) children and younE people enjoying a school visit and a further 2.1￿? taking part in family activities. A new unifoimed groups day was introduced, with the first attracting Brownie packs from across West Sussex. 2023 saw several community engagement projects come to frurtion. including the Time5cape wellbeing and arts project funded by South Downs National Park, and the Grow Project for adults living with poor mental health. Collections There continues to be a moratorium on accepting Items into the collection lunless the object is of exceptional significance and relevance) due to a lack of suitable collection slorage space. The Collections Developmenl Policy and several oiher key documents were reviewed and approved by the Trustees durirhg 2023 ahead of the Museum'5 accreditation review in january 2024. In 2023. the Curatorial team compleled two new interpretation projects. including the revamped Cycle Exhibition and the Hidden Innovators online and onsite exhibition focusing on little known stories of key individuals 3ssociated with the collectior)s. Financial Review As reported, flnaniial performance improved dramatically in 2023. Group net income including depreciation was £220,184, more than turning around the loss ol £￿,486 in 2022. Group net income excluding depreciation was £266,￿1, compared with a1055 of E44.570 in 2022. However included in 2023 income in the accounts is restricted fund income of £246.883 constituted a5 first Stage grant f Inance for the MEND Imuseum Estate and Development) proje(t_ Second stage MENDgrant income, nd expenditure on th4$ will be reElStered in 2024. Allowing for MEND funding, Gfoup Net Income, excluding depreciation, was £19,698 compared with the loss of £44,570 in 2022. The ba515 for this 15 as follows.. AMHC Development of Net Profit 2022 2023 Museum Profit MENDlncome Trading Profit Retail Profit AMHC -64.627 246.571 -312 -44.570 19.698 Thu5, Museum losses were curtailed between 2022 and 2023, and retail profit stabilised. The Museum's performance was underpinned by a growth in income from £649,769 in 2022 to £687.680, excluding MEND. in 2023. Entrance income increased from £423.541 to £480.118, with a 4% increase in visitor numbers and an increase in income per head. Expenses. fell from £714,397 to E687.990. Salaries increased only by 2% since increased salary rates were offset partially by periods of staff turnover. A range of site running costs were reduced. Retail income, mostly from the restaurant and shop, increased by £63.J20. C051 of sales increased f rom £127,875 in 2022 to £177,982 in 2023, with modest increase in otherexperhses, contributing to no change in overall relail performance. ANNUAL REPORT 2023 PAGE17 AMBERLEY MUSEUM & HERITAGE CENTRE Moving into 2024 it is clear that economicconditions in the country have been poor, with household income being stretched for leisure use. However at the time of writing, Museum performance has proved robust. In the period to August provisionald3ta indicate that, despTrte a fall in visitoi numbers of ICPh. Museum income has increased. expenditures are flat compared to 2023, and Retail profits have increa5eil. Financial security is enhanced by the Museum's reserves position. Total cash reserves for AMHC at the end of 2023 were £385,587 (excluding MENDI. These reseryes were slightly higher than at end 2022. The Friends of Amberley Museum & Heritage Centre has continued to provide valuable financial resources to the Museum as a result of ils fundraising activities. Reserves Policy In order to be a responsible and resilient charity, AMHC holds financial reseryes to cover 5ea50nal operational needs and protect the charily, with best eflort, against unforeseen drops in income. Restricted Funds.. These are reseNes thatcan onlybe used lorspecilic purposes, usually determined by tho provider. These restricted reserves cannot be used for normal day to day expenses. They mounted to E378,264 at the end 012023, net of De Witt kiln lixed asset5. Designated Funds-. These are allocaled by the Tiustees as ring fenced for uses agreed with volunteers to meet priority exhibit needs or may be allocated by Trustees for site maintenance or investment purposes. Use other than these purposes would normally be agreed between Trustees and relevant parties. Contingency Funds". Given the challenging economic circumstances the Museum continues to operate in, with periodic threals lo overall financial sustainability. the Trustees have set aside a tranche of funds only to be used in dire circtjmstances trig@ered by outside national eionomic or other internallexternal events. An element of these is the £50.(XKI 'Bounce Back, loan obtained under Covid conditions. This is being Tepaid on a monthly basis. Uniestricted Funds: Unrestricted funds free reserves - are those available for the day to day running ofthe museum and are generated through daily income and necessary expenditure flows to enable operations to continue safely and efficiently. Statement of Trustees, Responsibilities The Trustee5 Iwho are also the direitorsof Amberley Museumand Herilage Centre for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards IU nited Kingdom Generally Accepted Accounting Practice). Company law requires the trusteesto prepare financial statements foreach financial year which give a true and fail view of the state of aflairs of the ch3ril3ble company and the group and of the incoming resources and application of resources. including the income and expenditure, of the charitable group for that period. In preparing ihose financial stalements, the trustees are required lo.. select suitable accounting policies and then apply Ihem consistentlv. ANNUAL REPORT 2023 PAGE18 AMBERLEY MUSEUM & HERITAGE CENTRE observe the methods ond principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements, and prepare the financial Siaiements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 21XJ6. They are also responsible for safeguar(ling the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fi3ud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. legislation in the United Kingdom goverrbing the prepaiation and dissemination of finaniial Statements may differ from legislation in other jurisdictlOll5. Statement as to disclosure of information to Auditors So far as the Trustees are aware at the time of approving our Trustees, annual report.. there is no relevant information las defined by Sertion 418 of the Companies Act 2CX)61, being information needed by the auditor in connection with preparing their report. of which the charitable company'5 auditors are unaware. and the Trustees, having made enquicies of fellow dirertors and the gioup's auditor that they ought to have individually taken, have each taken 311 steps that helshe are obliged lo lake as a director to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditors The auditor5, Parkers. will be proposed for re-appointment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the special provisions of Part 15 of the Companie5 Act 2006 relating to small Companie5. By order of the Trustees Richard Vernon Graham Duxbury Depuly Chairma an tlrno( OATE ANNUAL REPORT 2023 PAGE19 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AMBERLEY MUSEUM AND HERITAGE CENTRE COMPANY NUMBER 01402483 Opinion We have audiled Ihefinanci81 slaiementsofAmberfeyMuseum and Herilage Centre Ithe-charilable Group and Company I lor the year ended 31. De￿mber 2023 which comprise the StatÈmenl of Finan¢ial A¢tivilies. the Balance Sheet. Ihe Cash Flow Slalemenl and notes lo Ihe finanaal slatements. including a summary of Sl9nilicanl accountin9 policies. The finaneial reporting fiarnework that has been applied in their prèparation is applicable law and United Kingdom Accounb'ng Standards. induding Financial Reporting Standard 102.. ThÈ Financial Reportin9 Standard applicable in Ihe UK and Republic of Ireland (United King¢Jotn Generally A£￿91ed Accountsng Praclicel. In our opinion. the financial slalements. give a true and fairview ofthe stsle ollhe Cha¥ilable Group and Company saflarsas at 31%l December 2023 and of Ils incoming resources and applicalion of resources for Ihe year Ihen ended". have been properfy piepared in accordan￿ wjlh United Kingdom Generally A£￿PIed Accounting Pratlite. Includin9 Finaneial Repo￿Tr9 Standard 102 'The Finaneial Reporting Slandard applicable in the UK anij Republic of Ireland. and have been prepared In accordance wilh Ihe requirem8nts of Ihe Companie5 Act 2006. Basis lor opinion We condueled our audit in accordancewilh International Slandards on Atsdibng IUKI IISAS IUKII and applicable law. Our responsibilities underlhose slandardsare furiherdescribed in the Auditor 5 respon51bililies lor Ihe audit of the linanei21 slalen)enls seeiion of our report. We are indepèndent of Ihe Charitable GroLJP antj Comp2ny In accordance wilh the ethical requirements that are relevanl lo our audil of the financial slalernenls in Ihe UK. Including the FRC"s Elhic31 slandard.and provisionsavailable forsmall entithes. In ihe cireun)siance5 Sel out in note 1 to Ihe financial slalements. and we have fulfilled our olher ethic31 respon5ibilibe5 in accordan￿ with Ihese reqUiremer￿s.We bÈliÈvelhal Ihe audilevidencÈwe haveoblained is sufficienland appropriate lo provide a bas¥s forour opinion. Conclusions relating lo going concern In auditing Ihe finanoi31 staleTnents. we have condu¢Jed Ihal Ihe trustees. vse of Ihe goin9 concern basi5 of a¢tounling in Ihe preparab'on of the finanrial statements is appropriate. Based on Ihe work we have pertormed. we have not idenlilied any tnalellal vncertainlies relating lo even15 or condib'onslhal. individua11yorcollecb.vely. maycast significanldoubl on the enlitys ability lo conlinuÈ as a going concefll for a period of al least iwelve rnonths from wh¢n Ihe linanoal 51alefflents are aulhorised lof 15sue. Our responsibilities and ihe responsibilities of Lh8 trustees with respect lo going concern are described in the relevant 5eclion5 of Ihi5 report. (Xher information The olhef Informati(￿ compii5es the lnlormab.0￿ inClud￿j in Iheannual reporlothe¥ Ihan the linanoal sialemenls and our auditor's repott Ihereon. The trustees are responsible for Ihe other information ¢oniained within the annual report. Our opinion on Ihe financial slatements does nol cover Ihe other information and. except to the exlenl olhÈrwisÈÈxplicittysialÈd In our report. we donot express anyform of assurance eonclusion Ihereon. Our responsibility Islo readthe olher Inforrnalionand. In ¢Joing so.con5iderwhelhei ihe olhei Information is materia in¢onsislenl wilh the f1nanoal stalÈmenls or our knowledge oblained in the eourse of the audit or olhÈMise appeafs to be rnaterially mis51aled. 11 we Idenlify such material Inconsislencies or apparenl material rnisslalemenls. we a￿ regul￿d to dÈlermine whelher this gives rise to a material missialÈmenl In Ihe financial slalernenls themselves. 11. based on Ihe wort we have perfofmed. we conclude Ihal there Is a material niis51alemÈnl of this (>ther Inlomiation. we are rÈquired lo reporl that facl_ We have nothing to report in Ihis regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on Ihe work undertaken In eourse ol the audit.. the information given In Ihe Iruslees. report Iincorporating Ihe operabonal and financlal review81 for Ihe financialyearforwhich Lhe financialstalementsare p¥epa¥ed isconsislentwilh the finanual slalemenls.. and the Iruslees report (incorporatin9 Ihe opei3lional and Ihe finan(ial rewewsl have been prepared ITh a¢¢ordan¢e %Yilh appli¢able lÈgal requ1￿Menl￿. ANNUAL REPORT 2023 PAGEI 10 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AMBERLEY MUSEUM AND HERITAGE CENTRE COMPANY NUMBER 01402483 Matler$ on whi¢h we are required to report by exception In ihe light of the knowledge and undeistandin9 of the Charitable Group and Company anij ils environn)enl obtained in Ihe course of the audil. wehave nol idenbfied rnalerwl mis51alem￿ls in the T¥ustees' Annual Report. We have nothing lo report in respÈtl Of the following matters in relab'on lo which Ihe Companies Act 2006 requires us to report lo you if. in our opinion. adequale accounting records have not been kept OT febJm5 adequate fof our au4Jil have not been received from b¥anches noi vi5iled by us". Ihe linancial slalemenls are not in agreement wilh Ihe accounting records and returns., certain disclosures ol trustees. remunerabon speafied by law a￿ not made., of we have not obtained all the informabon and explan3b.ons nece55ary for ihe purposes of our audil. Responsibililies of thè trustèes As explained more fullyin the Iruslees. ￿SpOnsIbl11￿"esstjietnert.the trUs￿e$3re ￿SponsIble10r1he preparalion of Ihe financial slalementsand lorbeing sabsfiÈd that they give a true and fair view, and for such inlemal COTilrol as Ihey determine is necessary lo enable Ihe prepafalion of finanoal stalernen15 that are free from malèrial misslalernenl. whether due lo fraud or error. In preparing IhÈ linancial stslemenls, the tnjstees are ￿SpOnsible for asse5SItI9 the Chanlable Group and Company s abilitylo conlinue as a going COn￿m.dIs￿OSlng. asapplitable. mamers related lo going cx>ncern and using the going eoncern basisof accoun*ng uTrlesslhe trustees eitherinlend to Iiquidale the Charitable Group or Cornpany or lo cease operab"ons. or have no realiS￿"t alterna￿"ve b￿1 lo so. Our responsibilitie5 for the audit of the financial $talements Our ob5e¢bves are to oblain reasonable assurance about whether the finanual statements as a whole are free from material misslaternent. whether due to Iraud or errol. anij to Issue an audiiof 5 repofl that Includes our opinion. Reasonable assurance is a high lÈvel of assur8nc8. bul is nota guarantee th3t an audit conducted in accordar)ce wilh ISA5 IUKI will always delecl a material mi5slaternenl when il exists. Mis51alements can arise from fraud or error and ao ¢onsidered material if. indimdually or in Ihe a9gregale. they could reasonably be expetled lo influence Ihe economic ijecisions of users taken on the basis of these financial stslemenls. Identificatlon and assessment of irregularities including Iraud Irregulafilies. including fraud.are instsncesof non-complkince with laws and regulations. We design procedures in line with our respon5ibililies. ouuined above. lo delecl rTralerial m*sslalerTrenls In respect of irregularities. inclLJding fraud. The exlent to which our procedu￿$ a￿ capable of dete¢ting Ir￿gUIantse$. induding fraud is deiailed below.. We lo¢usedon spec+fic laws and regulabonswhith w8 considered may have a direcl maierial errecl o Ihe financial slalernenls or Ihe operabons of Ihe Charity. including the Companies Acl 2006. obtained an undersianding of the legal and regulatory framework applicable to the entity and how the entity is complyingwilh Ihatfrarnework bymaking appropriate enquines of rnanageTnenl as well as considerin9 Ihe internal ¢ontrols in plate lo mitigate risks of fraud and Aon-tompliance wilh laws and re9ulalions'. We made enquirie5 01 Ih05e charged wilh goveman¢e and managetnenl concemin9 The ri5k5 of fTaud". Instances ol nonoompliance wilh laws and regulations or knowledge of actual. suspecled. or alleged fraud 15 docutnenled dunng Ihe period". We allocated an en9agemeniieam Ihalwe Considered colleetively had 1heapproprialec0mpeler￿e and tapabililies lo identify or recognise non-compliance wilh laws and fegu1ations Audit response to the risk ol irregularities includTrng fraud Based on the results ol our nsk assessment. our procedures Included. butwere not limited to.. Perforrning analytical prO￿￿U[*S lo idenb.ly any unusual or unexpeclÈd relabonships Ev31ualing whelherjudgemenisand assvmpbons made indelemiining Ihe ac￿un￿.ng eslimales setout in note 1 were indicative of potenlial bias As5e5sing whelherjudgellientsand assumpbor6made indelemiirring the a¢o)unb"ng eslimales set oul In note 1 were indicative of polentsal bias. Agreeing financial slalenienls disclosures lo unijedying supportln9 documenta￿.0￿ Reading the ffjinules of meebngs of ¢hose charged with governanc ANNUAL REPORT 2023 PAGEI 11 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AMBERLEY MUSEUM AND HERITAGE CENTRE COMPANY NUMBER 01402483 Reviewing Ihe correspondence wilh ￿le¥an1 fegulalory bodies Tesb"ng ol iournal enbies to addrÈss Ihe risk of fraud ihrou9h managemenloverride In¢orporation an elementof unprediclabiltyin the selecbon of the nature. timing. and exlenl of our audit procedures. Corroborating the business rationale for transactions outside lh8 norm81 course of busin8SS. C(>nGIu5ions regaidlny the risk$ of Frregularitie$ in¢luding fraud Theie are inhereni limitations in our audit procÈdures described above. The more removed that laws and regulats.ons are fiorn financial transac￿.0￿5. the less likely il Is Ihalwe would become aware of non-complian￿. Material misstatements that arise due lo fraud can b8 harder lo detect Ihan Ih05e that arise ffom error as they ay involve deliberate ¢on¢ealmÈnl or ¢ollu$ion. We Considered our auditwas capable ol detecting irregularibes due lo.. The effectiveness of the entsty's internal controls. The nature. liming and exlent ol audit procedvres perfomied-. and The absence of ¢ontradi¢lory eviden A further description of our responsibililies for the au¢Jil of Ihe Iinanoal staiements bs located on the Financial Reporting Countil's websile al.. hllpsjhvw4_frc_org_uklaudilorsresponsibilities. This desuiplion forms part of our auditor s report. Use of our report This report Is niade solely lo Ihe Chartlable (koup and Company s members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. ￿raUdItwOrk has been ulldertaken so Ih31we Might 51ale ihe Charitable Group and Company s niembers those matters we are required to slate lo them in an audilor s reportand forno other ptsrpose. To Ihe fulleslexlent perrniiled bylaw. we do not ac¢epl or assutne responsibility to 3nyoneolher than Ihe CharikableGroup and Company members as a body. forour audilwork. for Ihis report. or for the opinions we have formed. AnnttLt War50n PhD BSC FCA (Senior Stsrutory Audirorl For and tsn behi111 ol Parkers ChArtered Ac£oununcs and Stawtory Auditors Cornolius House 178-180 Church R￿d Hove East Sussex BN3 2DI DATE ai.kn S ioj Ic)214 ANNUAL REPORT 2023 PAGEI 12 klllBTr-RI.F.I' f¥ll'SF.UII LIND IIF.RIT.-IGE CENTRE (.'())IP.,INI' Niril B Tr: R 0 1402483 C.'())'%I)LII).ITEI) ST.ITEIIENT OF FIN,INC-I.IL,ICTII-ITIES r()R TllTr- I'Tr-..IR Tr-1S1)F' l) 3 1: 1)F-I'Tr'.IIB Tr'R 2023 Iiicor oratin I'ou incvine e i'nditliTe ae¢ount 202.1 2022 Rc51ricled Tr-linds Ilnreslricied Fiinds I'otxl iiiids 'l-olal 'Iii)ds Iiiciittiii aiid ciidoii'nients froni 29.3.48¥ 56,98? 4811.11% 350.470 48Q.I 18 421 *83 5.j..S?.3 421 i41 348.937 17 C.'liJrilciblL -I'ot#l 29.1.48.8 9(?.1.71.3 1.257,201 92S..31 328,$90 66? 11() 328 590 708,427 288,-417 7311.487 46?()I Total 4().?91 )()0.72() 1.037.U17 247.197 127,01.31 2211.1li4 11)11.4X()I TrAnsfers 1)etiieoii funds t.t nioi'emoihl iii liin(Is 247.197 127,U 1.1 I 2?0.184 190.4861 RecoTicili4ti(Iii (Ir riinds 288.9_10 760.074 1.049.INJ4 I, l_Il).490 'I'atAI b iiiid5 C#ll'ried j.16.1?7 73.1.061 1 ?6(),18S' I OIIL ol- IliL gyioiips. 1L L1ii'iliLS 4llNiiir¥xI di*￿1171)Ll¥ll dLiiingF ihl aly)i-L Ill'u I'ii)JllLiLII P¥rio(l%. TIIL gyfuLlP has no rLLO!Di)jscd LPk I'dliie 7.411 ig.{)61 -11)l).1 *4 AI 31, 1)LLLiiibLr ?0?? 26S.?()4 (?%4.8 18 ANNUAL REPORT 2023 PAGE124 AIIBb.Rl.E:I' li 11,'%Tr'UII t) 11 F.RIT..IC.F. CF.NTRE c())IP..INI' NI')IBF.R 01402483 aiii. ()TE% 'I'lI '[ EI E I.-INI ..INI'I.11. ST,ITEIIENTS I,-()R TIIF. I'F...IR F.￿nF.￿.1j￿T DF.C-F.IIBF.R 2023 8. INI-F.-Sl'IllF.NTS Cproiip 202.1 I'thnipani. 202. 2022 2022 111i.1sliiiiiit in Groiip UndLrtaking TIIL ¢i)i))PLltii' (iii li% IIIL 11-hi)li of thi Issllid sharL" pil.11 of.4iiibLrlLy NIIL5UlltI) {RLt£iil I l.iniitLd. ). i)Tr.11-l-()R GrDup 202.1 C'onipAni' 202_1 2022 2022 Tr4111e Dil)l()r ()tliLr DLbii)rs Dii¢' bi, siili%j(ljjir)' iinilLt1aking 4.X23 25.608 7.342 4.792 25.()0 1 (1.74.3 7.27() (Tr4.8 ?_1 71.437 30.451 I O. CRF'DI"I'()R%: aiiinuilli fllllinx diic ii.iihiM oiic l'ear Groiip 202.1 2022 202.1 21122 i 0.000 1..352 1 S.444 6.142 7.illll ()() 66.4?7 1_S.X7X 5,999 li.X7 4,41Jl) Ik.445 4.4C)X ANNUAL REPORT 2023 PAGE | 25 ,IIIIIF.RI.F.I' ￿11-￿F.11￿I ..IN D 11 F.RIT..IGF. CF.ITRF. C()Ill'Il.Nl' NIIIIBF-R 01402483 OTf.s i'() TIIF. FIN.INC'I.11. %TATF.IIF.N'TS Tr"OII I'II F. I'F.,IK F.IN DF.I) _1 I %1 DF.C'F.11 BF.R 2023 I I. C'RF.DII'()RS: Jmoiinls fallin% du¢ dfivr niorc OllL' i ear (Jrollp 202.1 C'onipaiii. 202.1 2022 2022 10.000 4.167 111.000 B111k 101115 ?_5 yL￿￿ rs 14Liiik luJii% 11)ur¥ ilitin i ),¥7￿ rs 14.IC)7 12. I>RUI'ISIONS TrOR I.I.11111.I-I'ITr-S 202.1 2022 l)clci'i'c(I ti¥ &iclciiilc(l L4wilJl allL)ii'wiLI .3. S-I'A-ILI. 'he LOII)P1ny is liniiied by g>uarai)ieL aiid lias iio sh￿lfL capilcll. It Is rLgiÉiLrtd a% <1 cliiirily. 2022 Rt'5trii ti.d Fiiiids Ti)tJl Fiinds l-i)tAI Fiiiids Fiiiids IS9.1:9 -14() l)y¥ 710.172 771.822 4111.4117 If () ()4.31 ?l)?.41? 166.4?71 114.1671 733.0(Trl 16CI.4? 7 114.ICI71 ?(TrY.I¥S 1 041).004 ANNUAL REPORT 2023 PAGE | 26 èllll BF.RI.F,I' NII-SF.11)I D 11 Tr-RI-I..IC- F. CTr..N-I-RF: (:()IiP..IN'}' NiIiIBF.R 01402483 ()TE.% T() i'ii r. Fl N..INC'I.11. .%-I-,I-I-E.IIE.N'rs r()li-I'llF. I'F.,IR F.l%DF.D 31 DF.C'F.IIBF.R 2023 C".().NTIJ IIfr:I)... 14. ￿l01'F.)IF.lT IN FiIND .4t O 1.01.202.1 Iloi"oniont iii l.-Iind .31.12.2112.3 Unresti'ictcd Flind5 760.Q74 ?8¥ ().lU 1114().1}04 117.0111 247.1()7 21{I.IX41 711,OCIl 5_1fy,1?7 1.2CTrY,IXX 202.1 2022 Reslrif ti.d Tr und DL Ivilt Kilns Fiinil 57.X(i_I 70,X(Il 173.858 711,8()_I 2,41? S,{)9() 249 5..171 249 4.6l)_I TLSLI) 14IlgT5 {)f I IL'IP R4lLk Sail, Beiich Flind P¢'tL'r Fijiid P￿?1.1()[% Fund MIi%LilllI DLI Lli)i)ii)Lnt k)Iiih fi47St 2.400 3.971 2,4011 8.48S' 1.5(10 2.475 (?,¥(> 2,oon 2.50 qLNIi) 4{Tr.¥¥3 Ri)yl¢ I P4?i'ilioii &. MLl*llllI'I"rU￿'. Firs1 SILPS OikLI)IILlI CloLk 2.001 1.219 5.3(Tr.1?7 ?AX.()All ANNUAL REPORT 2023 PAGE | 27 ,IIIB Tr-RI.F.I' I,'SF"Illl klNI) IIF-RIT.-IC: F. CF.NTRF. c:I)}IP..IN}' N [IIIIIF.R 01402483 aii(15ubsi(liari' coiii r()R Tll F". I'F...tR F.PiDF.D 31. DF.C"F.)IIIF.R 202.1 C'ONTINIIF.D... Piirposc and rcslrictioii iii iise Fiindiiig ili¥ buildirigT IL [i(I liicryiiilL111L niL ol- tl?C IVcl?011 sIILd. l.Iindingy ol. IliL fipilirs of ill Risk Iliiildiiigs. -I'L%LU lliips ol- HL Ip DiTrnalioii Iv l iiii(I sai" j()rs Nqll.￿￿ni Ill. 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