|
Financial Statements & Report of the
Independent Examiners
for the Year Ended 31 December 2022
for
NACT UK trading as Medical Education Leaders UK
|
|
----- Start of picture text -----
AOC
----- End of picture text -----
----- Start of picture text -----
|
----- End of picture text -----
Contents of the Financial Statements for the Year Ended 31 December 2022
Page
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Reports|
|Legal|and|Administrative|Information|1|
|Executive Committee|Report|2|
|Report|of the|Independent|Examiners|6|
----- End of picture text -----
----- Start of picture text -----
|
|
|
----- End of picture text -----
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Accounts|
|Statement|of Financial|Activities|7|
|Balance|Sheet|8|
|Principal|Accounting|Policies|9|
|Notes|to|the|Accounts|10|
----- End of picture text -----
|
NACT UK trading as Medical Education Leaders UK
Legal and Administrative Information for the Year Ended 31 December 2022
| Honorary Officers and | Dr J Szram | (Chair) | |
|---|---|---|---|
| Executive Committee | Dr S Lord | (Vice Chair and ChairElect) | |
| DrNNathwani | (Honorary Secretary) | ||
| MissHCattermole | (Honorary Assistant Secretary) | ||
| DrM Davison | (Honorary Treasurer) | ||
| DrE Briggs | (Editor& PR Officer) | ||
| Principal Office | NACTUK | ||
| L15, Bletchley Business Campus | |||
| 1-9 Barton Road | |||
| BLETCHLEY | |||
| MK2 3HU | |||
| Telephone: 01908 272898 | |||
| Fax: 01296 715255 | |||
| Email: office@nact.org.uk& office@mededleaders.co.uk | |||
| Charity Registration | Number | 295172 | |
| Accountant | Anthistle Craven | ||
| Moreton House | |||
| 31 High Street Buckingham Buckinghamshire MK18 INU |
|||
| Bank | HSBC Ple | ||
| 117 Great Portland Street | |||
| London | |||
| WIA4UY |
| | |
----- Start of picture text -----
Go
----- End of picture text -----
re
|
NACT UK trading as Medical Education Leaders UK
Executive Committee Report for the Year Ended 31 December 2022
The Executive Committee present the statutory report with the accounts of NACT UK trading as Medical Education Leaders UK for the year ended 31st December 2022.
The results for the year are presented in the form of a Statement of Financial Activities, which incorporates the traditional income and expenditure account, in order to comply with the Revised Statement of Recommended Practice for Charities, as issued by the Charity Commission in October 1995 and as identified in the Charities Act 1993.
CONSTITUTION
The National Association of Clinical Tutors (now known as NACT UK trading as Medical Education Leaders UK) was formed in 1969 as an unincorporated association. It is governed by the constitution rules ratified at the AGM of 12 May 2022.
PRINCIPAL AIMS
The object of the Association shall be the promotion of medical education and professional development of medical educators in all its aspects. This object shall be attained by holding at least one meeting annually for the discussion of any relevant matters and by such means as the Council shall approve.
MEETING AND COMMUNICATIONS
NACT UK trading as Medical Education Leaders UK run and organise national meetings which are open to members and non-members. The aim of these meetings is to inform and educate all those involved in the delivery of postgraduate medical education on the current and changing process and structure of postgraduate medical education.
NACT UK trading as Medical Education Leaders UK keeps in touch with its members by the Clinical Tutor newsletter three times a year, and through an active email cascade. It represents its members on the Conference of Postgraduate Medical Deans (COPMeD), English Deans (HEEDs) as well as through committees of the Academy of Medical Royal Colleges (AOMRC) and other related organisations in the four countries of the UK. It maintains personal contact with those involved in the management of postgraduate medical education at national levels.
ORGANISATION
| |
NACT UK trading as Medical Education Leaders UK has a Chair, a Vice Chair, an Honorary Secretary, an Honorary Treasurer, an Honorary Assistant Secretary, and a Public Relations Officer/Editor. The officers are elected by the membership at each Annual General Meeting and none can serve for more than three years in any one post.
CURRENT OFFICERS (AT 31 DECEMBER 2022)
The following were elected/re-elected at the AGM held on 12 May 2022:
Chair Dr J Szram Vice Chair Dr S Lord Hon. Secretary Dr N Nathawani Hon. Treasurer Dr M Davison Editor & PR Officer Dr E Briggs Assistant Hon. Secretary Miss H Cattermole
|
The Officers are in regular contact, especially by email, messaging app, telephone conferencing and phone, and occasionally meet at various times throughout the year.
NACT UK trading as Medical Education Leaders UK
Executive Committee Report for the Year Ended 31 December 2022
COUNCIL
The Council consists of all the Officers and a Director of Medical Education or equivalent provider-based medical education leader representative from each Deanery in the United Kingdom, (normally elected by their DME colleagues in that Deanery), together with co-opted members from the Postgraduate Deans (COPMeD), the National Association of Medical Education Managers (NAMEM), Foundation Programme Directors, SAS Tutors and various other bodies. It meets four times a year to update representatives on current issues in postgraduate medical education, operational and other activity by the Association and discuss future strategy for the Officers to implement.
In May 2022 the AGM ratified Council’s proposal to change the name of the organisation from NACT UK to Medical Education Leaders UK, as well as a new constitution.
STRATEGY AND SUMMARY OF ANNUAL ACTIVITIES
The Officers and Council work to the strategy for Medical Education Leaders UK as set out in the January Council meeting each year. We continue to aim for all leaders in medical education to be members, including DMEs and Clinical Tutors and their associates and deputies, Foundation Programme Directors, SAS and LED Tutors. The Association is supported in this aim by COPMeD.
The importance of the role of the Director of Medical Education is recognised by COPMeD and the GMC and detailed in the “Organisation of Postgraduate Medical Education at the provider level” published by the organisation in August 2007, updated April 2013. An updated job description (2020) is also available on the Medical Education Leaders UK web site (https://mededleaders.co.uk), reflecting the increasing complexity and importance of the job and stresses that the time involved should be properly allocated and rewarded. The Consultant Contract endorses required planned sessions known as programmed activities (PAs) for educational activity, and the new HEE Educational Contract also makes this time requirement clear.
The organisation works closely with COPMeD and Health Education England (HEE) as well as NHS Education for Scotland (NES), Health Education and Improvement Wales (HEIW), Northern Ireland (NIMDTA) and NHS Employers and will continue to maintain liaison with other organisations with similar interests. These include: AOMRC, NAMEM, NHS Confederation and a number of Royal Colleges. Council members continue to be appointed, in their own right, to working groups within GMC and HEE. In 2022 the UK Government announced that HEE would merge with NHS England and Digital to form a new NHS England from April 2023, fulfilling the same functions as HEE with a specific directorate focusing on workforce training and education (WTE).
The officers and some members of Council regularly represent the organisation at national level at a wide number of stakeholder meetings and continue to be consulted on new documents and initiatives within the field of postgraduate medical education.
In 2022 the Council agreed to appoint three Mental Health Trust DMEs who also attend the RCPsych DME committee, as well as three LED Tutor reps who between them cover the UK Deaneries. A shadow council for early career doctors in and out of training with an interest in medical education to represent colleagues across the UK also commenced this year, with a representative attending main Council meetings.
The development programme for educational leaders provided by Medical Education Leaders UK “Basics for Leadership in Medical Education (BLIME) is delivered in two parts - CorBLIME - recommended for all new member categories - and MorBLIME, for those who wish to update their knowledge. These continue to be popular, and well received by attendees, who as well as DMEs include Foundation and other Training Programme Directors, Heads of School and SAS Tutors. The organisation’s events programme is also an opportunity for self-development and networking. In 2022 we held a Foundation Sharing Event in Birmingham, and an SAS Tutor meeting in Oxford. The Spring Meeting and AGM in Bath saw the election of Dr Stephen Lord as Vice-chair and Chair elect to take over from Professor Jo Szram in 2023, The Winter Meeting held at RCP London was well attended and highly rated by delegates with a number of high profile keynote speakers from across the UK and the international medical educator community.
| |
Medical Education Leaders UK is an institutional member of ASME and AMEE and continues to support events run by both organisations. The Medical Education Leaders/ASME membership benefits are detailed on the Medical Education Leaders UK website. The organisation continues to be a key organising member of the biannual DEMEC conference but has decided to end the financial service arrangement for the planned 2023 conference, a change that will be reflected in next year’s accounts.
| |
;
NACT UK trading as Medical Education Leaders UK
Executive Committee Report for the Year Ended 31 December 2022
Medical Education Leaders UK continues to support an annual exchange Fellowship to North Carolina and networks with the hosts in the US and following the COVID-19 pandemic our 2020 UK Fellow Damian McKeown was finally able complete his Fellowship, with a plan to run both UK and US Fellowships for 2023/4.
2022 transpired to be a pandemic/post-pandemic transition year, within continuing pressures and challenges throughout the NHS especially around workforce and financial hardship within health services but also in social care and society at large. It has been clear that there is an ongoing need for responsive, collaborative, and compassionate educational leadership supported by high quality, robust educational management and governance through continuing service and training recovery. Medical Education Leaders UK continues to respond to the needs of its members in order to equip each of them to develop the skills and behaviours to provide this leadership, aligned to the values of the organisation.
DEPARTURES, ARRIVALS AND ACKNOWLEDGEMENTS
Medical Education Leaders UK Council wishes to welcome all new Deanery and other representatives to the organisation. They would particularly like to acknowledge Dr Stephen Lord’s readiness to take over early as Acting Chair in July 2022 further to Professor Jo Szram’s appointment as Postgraduate Dean of Kent, Surrey and Sussex. An extraordinary Council meeting ratified this arrangement, in which Professor Szram was designated Emeritus Chair, allowing her to continue to support the organisation and Dr Lord Acting Chair.
The Officers and Council would like to thank Mrs Anita Rodgers and Michelle Atkins for their work supporting the Office, and our Education Advisor Dr Simon Frazer for supporting educational events and website development.
|
|
|
|
NACT UK trading as Medical Education Leaders UK
Executive Committee Report for the Year Ended 31 December 2022
FINANCIAL INFORMATION
THE CHARITY’S ASSETS
Acquisitions and disposal of fixed assets during the year are recorded in the notes to the accounts.
RESERVE POLICY
NACT UK maintains a general fund reserve in order to underwrite any shortfalls encountered by educational meetings and courses. The reserve fund also generates interest to fund the start-up costs of educational initiatives.
EXECUTIVE COMMITTEE’S RESPONSIBILITY STATEMENT
Charity Law requires the Executive Committee, as trustees, to prepare accounts of the charity for each financial year. In preparing the attached accounts the Executive Committee considers the charity has:
-
© selected suitable accounting policies and applied them consistently;
-
e made judgements and estimates that are reasonable and prudent;
-
e followed applicable accounting standards, subject to any material departures disclosed and explained in the accounts; e prepared the accounts on the going concern basis, as it is appropriate to presume that the charity will continue in business.
The Executive Committee has responsibilities for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 1993. It also has responsibilities for safeguarding the assets of the charity and for taking reasonable steps to prevent and detect fraud and other irregularities.
| | |
THE EXECUTIVE COMMITTEE
The Executive Committee members constitute trustees of the Charity for the purposes of charity legislation.
The Executive committee are elected by the members at the AGM under the constitution of the Association.
The following served as Executive Committee Members during the year up to December 2022: Prof J Szram, Dr Shirley Remington (retired May 22), Dr S Lord, Dr M Davison, Dr C Lewis (retired May 22), Dr N Nathwani, Miss H Cattermole and Dr E Briggs.
No Executive Committee member received any remuneration for services as a member of the Executive Committee in 2022. There were £950.00 expenses reimbursed to the Executive Committee for travelling, accommodation and meal expenses in 2022. No Executive Committee member had any beneficial interest in any contract with the Charity during the year.
INDEPENDENT EXAMINERS Anthistle Craven were re-appointed by the Board on 12" May 2022 in accordance with Section 43 of the Charities Act 1993.
|
Signed on behalf of the Executive Committee
Chair Ss.
----- Start of picture text -----
oe D
----- End of picture text -----
Approved by the Board on: {2 / 05 /2.3
|
| | |
|
|
NACT UK trading as Medical Education Leaders UK
Report of the Independent Examiner for the Year Ended 31 December 2022
We have examined the balance sheet and income and expenditure accounts for the year ended 31 December 2022 and the accompanying notes which have been prepared under the historical cost convention and the accounting policies set out on page 9.
RESPECTIVE RESPONSIBILITIES OF MEMBERS OF THE EXECUTIVE COMMITTEE AND
INDEPENDENT EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (The Charities Act) and that an independent examination is needed.
It is the responsibility of the Independent Examiner to:
-
Examine the accounts under section 145 of the 2011 Act,
-
- To follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)b of the 2011 Act, and to state whether particular matters have come to my attention.
BASIS OF OUR OPINION
Our examination was carried out in accordance with general Directions given by the Charity Commission, An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
We planned and performed our examination so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the accounts are free from material mis-statement, whether caused by fraud, other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of the information in the accounts.
INDEPENDENT EXAMINER’S STATEMENT
In connection with our examination, no matter has come to my attention which gives us reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
ANTHISTLE CRAVEN
Moreton House 31 High Street Buckingham Buckinghamshire MK18 INU
NACT UK trading as Medical Education Leaders UK
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Statement|of Financial|Activities|
|for|the|Year|Ended|31|December|2022|
|31.12.2022|31.12.2021|
|Notes|£|£|£|£|
|INCOMING RESOURCES|
|Subscriptions|107,389|104,410|
|Meetings|51,190|40,110|
|DEMEC|accounting|services|(NACT)|2,000|14,000|
|Other Income|“|-|
|Investment|Income|and|Interest|
|Received|2|934|408|
|TOTAL INCOMING|RESOURCES|161,513|158,929|
|RESOURCES|EXPENDED|
|Direct|Charitable|Expenditure:|
|Publications|6,150|6,390|
|Meetings,|Courses|including Council|45,104|18,608|
|Meetings|
|Clinical|Teacher|Costs|-|1,200|
|Rent|4,950|5,400|
|Travelling|Fellowship|Costs|-|-|
|Consultancy|fees|41,106|9,996|
|Staff Costs|5|72,049|77,890|
|Other|Costs|3|11,263|7,132|
|180,622|126,616|
|Management and Administration|4|2,463|2,295|
|NET INCOMING/(OUTGOING)|(21,572)|30,018|
|RESOURCES FOR THE YEAR|———|#|
|Net|movements|of funds NACT UK|12|(21,572)|30,018|
----- End of picture text -----
None of the Charity’s activities were acquired or permanently discontinued during the above two financial periods.
The Charity has no recognised gains and losses other than those shown above and therefore no separate statement of total recognised gains and losses has been presented.
The notes form part of these financial statements
:
:
NACT UK trading as Medical Education Leaders UK
Balance Sheet 31 December 2022
| 31.12.2022 | 31.12.2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | uv | 1,665 | 1,802 | ||
| Investments | 8 | 5,027 | 5,027 | ||
| 6,692 | 6,829 | ||||
| CURRENT ASSETS | |||||
| Debtors | 9 | 40,648 | 81,354 | ||
| Stocks ofdirectories and stationery | 68 | 119 | |||
| Cash at bank and in hand -NACT | 10 | 343,802 | 375,963 | ||
| 384,518 | 457,436 | ||||
| CURRENT LIABILITIES | |||||
| Creditors falling due within oneyear | 11 | 157,282 | 208,765 | ||
| NETCURRENTASSETS | 227,236 | 248,671 | |||
| TOTALNET ASSETS | 233,928 | 255,500 | |||
| REPRESENTED BY: | |||||
| FUNDS AND RESERVES | |||||
| Generalfund | 12 | 233,928 | 255,500 |
I approve the financial statements and confirm that I have made available all relevant records and information for their preparation. The financial statements were approved by the Executive Committee on A2baley Jaa. and were signed by:
|
----- Start of picture text -----
M. DAVISEN
----- End of picture text -----
The notes form part of these financial statements
|
NACT UK trading as Medical Education Leaders UK
Notes to the Financial Statements
for the Year Ended 31 December 2022
l.
ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention.
These accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2005 and the Charities Act 2011.
Income
Income from subscriptions, investments and deposits is credited to the statement of financial activities on an accruals basis.
Expenditure
Direct charitable expenditure comprises direct expenses incurred on the defined charitable purposes of the Association. And includes direct staff costs attributable to the activity and an allocation of general management and overhead costs.
Management and administration costs include expenditure on general administration and management and complies with constitutional and statutory requirements.
Cash flow
The accounts do not have a statement of cash flows because the Charity, as a small reporting entity is exempt from the requirements to prepare such a statement under Financial Reporting Standard 1 “Cash Flow Statements”.
Tangible fixed assets
Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life.
Office equipment - 25% per annum on reducing balance
Investments
Investments are included in the balance sheet as their market value at the end of the financial period. Realised and unrealised gains and losses are credited, or debited, to the statement of financial activities in the year to which they relate.
Fund Accounting
The general fund comprises those monies which may be used towards meeting to charitable objectives of the Charity at the discretion of the Executive Committee.
Taxation
The Charity is a registered charity, and therefore is not liable to Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
The notes form part of these financial statements
|
NACT UK trading as Medical Education Leaders UK
Notes to the Financial Statements for the Year Ended 31 December 2022
2. INVESTMENT INCOME AND INTEREST RECEIVABLE
| 2. | INVESTMENT INCOME AND INTERESTAND INTERESTINTEREST RECEIVABLE | ||
|---|---|---|---|
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Bank interest | 563 | 37 | |
| Dividends | 371 | 371 | |
| 934 | 408 | ||
| 3; | DIRECT CHARITABLE EXPENDITURE: OTHERCOSTS | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Postage, telephone, website and stationery | 4,658 | 4,626 | |
| Travel andaccommodation expenses | 3,697 | 445 | |
| Handbook, directories and flyers | (26) | - | |
| Depreciation Office, administration and miscellaneous |
555 1,129 |
601 1,425 |
|
| Subscriptions | 1,250 | 35 | |
| 11,263 | 7,132 | ||
| 4. | MANAGEMENTAND ADMINISTRATION OFTHE CHARITY | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Independentexamination and accountancy | 2,463 | 2,295 | |
| Staffcosts (SeeNote 5) | - | - | |
| 2,463 | 2,295 |
5: STAFF COSTS AND EXECUTIVE COMMITTEE MEMBERS’ REMUNERATION No member of the Executive Committee received any remuneration in respect of their services as a member of the Executive Committee during the year (2022 - £nil)
Total expenses reimbursed to members of the Executive Committee during the year was £950.00 primarily for reimbursement of travel expenditure.
Other staff costs were as follows:
| Other staff costscosts were as follows: | |||
|---|---|---|---|
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Wages and salaries | 62,295 | 69,343 | |
| Social security costs | 1,951 | 984 | |
| Otherpension costs Stafftraining |
7,803 sé |
7,491 72 |
|
| 72,049 | 77,890 | ||
| Direct charitable | 72,049 | 77,890 | |
| Management and administration | ; | - | - |
| 72,049 | 77,890 |
The notes form part of these financial statements
-
----- Start of picture text -----
EC
----- End of picture text -----
NACT UK trading as Medical Education Leaders UK
- TAXATION
| |
|
|
Notes to the Financial Statements for the Year Ended 31 December 2022
NACT UK trading as Medical Education Leaders UK is a registered charity and therefore is not liable to income or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
7.
TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | ||
|---|---|---|
| Computer equipment |
Office equipment |
|
| £ | £ | |
| COST | ||
| At 1 January 2022 | 13,505 | - |
| Additions | - | 417 |
| At 31 December2022 | 13,505 | 417 |
| pS | ||
| DEPRECIATION | ||
| At 1 January 2022 | 11,703 | - |
| Charge for the year | 450 | 104 |
| At 31 December2021 | 12,153 | 104 |
| NETBOOKVALUE | ||
| At31 December2022 | 1,352 | 313 |
| At 31 December2021 | 1,802 | - |
| The netbook value at31 December2021 represents tangible fixed assetsused in carrying out the direct charitable | ||
| activitiesofthe Association. | ||
| INVESTMENTS | ||
| 31.12.22 | 31.1221 | |
| £ | £ | |
| Market value at 1 January2022 and at31 December2022 | 5,027 | 5,027 |
| 5,027 | 5,027 | |
| Investments at 31 December2022 comprised ofthe following: | ||
| Equities | 5,027 | 5,027 |
| 5,027 | 5,027 |
The net book value at 31 December 2021 represents tangible fixed assets used in carrying out the direct charitable activities of the Association.
- INVESTMENTS
----- Start of picture text -----
|
----- End of picture text -----
The notes form part of these financial statements
NACT UK trading as Medical Education Leaders UK
:
| | |
|
Notes to the Financial Statements for the Year Ended 31 December 2022
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHINONEYEAR | ||
|---|---|---|---|
| 31.12.22 | 31,12:21 | ||
| £ | £ | ||
| Subscription debtors nextyear | 37,337 | 48,732 | |
| Debtors DEMEC Debtors |
3,311 - |
2,919 15,703 |
|
| DEMEC AccruedIncome | - | 14,000 | |
| 40,648 | 81,354 | ||
| 10. | CASH ATBANKAND IN HAND | ||
| 31.12.22 | 3L1221 | ||
| x | £ | ||
| National Association ofClinical Tutors *1809 | 23,582 | 26,999 | |
| National Association ofClinical Tutors *1817 | 240,170 | 244,765 | |
| National Association ofClinical Tutors *3396 | 80,050 | 104,297 | |
| Petty Cash | - | (98) | |
| 343,802 | 375,963 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHINONEYEAR | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Trade creditors Othercreditors Accruals DEMECAccruals |
2,984 1,829 1,540 : |
991 1,999 1,540 14,000 |
|
| VAT—-NACT VAT—DEMEC |
1,717 - |
3,242 (3,691) |
|
| Deferred income | 47,644 | 63,344 | |
| Funds due toDEMEC | 101,568 | 127,340 | |
| 157,282 | 208,765 | ||
| 12. | PROFITRECONCILIATION | ||
| NACT | DEMEC | ||
| Fund | Fund | ||
| z | £ | ||
| CurrentYearIncome | 161,513 | 25,684 | |
| CurrentYearExpenditure | 183,085 | 65,456 | |
| Excess ofincome over expenditure | (21,572) | (39,772) | |
| Fund balancebrought forward | 255,500 | 141,340 | |
| Fundbalancecarriedforward | 233,928 | 101,568 |
|
|
----- Start of picture text -----
The notes form part of these financial statements
_ co
----- End of picture text -----