Company regIstr￿10n numbtr 02ts60n IEn8land Wales) Chèrity registrztion number 298S421England and Wales) SCIENCE PROJEcrs COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION TNste•s Featlerstone S Plzzev S Wilkins J Huard R Murray IResigned 10 July 20261 (Appointed 10 O£tober 20251 (Appointed 24 Aprll 20261 Senior mana8ernent A Rumbold linterlml C Whelan Chief ExecutNe OFficer Finance Dlrector Country of Incorporation Unlted KiThBdom IEngland and wa￿$) 02186073 Charity re¢istratlon En8land and Wales 298542 Rt8lst¢red offkè Unf( I War￿n Farm Steventon 8èsingstoke RG25 3BL Indeyndent Audlthr Sedulo London Umked Offlce 605 Albert House 256- 260 Old Street London United Kingdom ECIV 9DD SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE CONTENTS Trustees. report Ststsment of trustees, responsibilities Independent auditor's report Statsrnent of flnanclal activities Balance sheet io Statemènt of cash flows Ji Notes to thefln¥nctsl ststements 12-22 SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual ￿port and financi31 statemem5 forthe year Ènded 31 Decernber 2025. The financial st)tements have been p￿pared In accorthnce with the accounting policses set out in note I to the financial 5tstements and comply with the charitable Eompèny's goveTninE document, the Companies Act 2006, FR5 102 'The Fin3ncl31 Reportin8 Standèrd applitable in the UK and Republic of Ireland" and the Charities SORP "AccouDlin8 and Reportln8 by Charities.. Statement ol RecommÈndÈd Practice applicable to charities preparing their accounts In accordanre with the Financial Reporting standard applicable in the UK and Republk of Ireland IFRS 1021 Oblertlve5 and ancluded that the trustee5' use of the golng concern ba515 of accounting in the preparation of the fin3Thcial statements 15 appropriate. Based on the work we have performed. we have not l¢kntlfled any m*erfal uncertainties relatlng to events or condltions that, Indlvidu8lly or colle¢tlvelyp rnay cast slgn6ficant doubt on the charltrdble company'5 abilrty to continue as a g￿n8 contem for peiiod of at ￿ast twelve months from when the financial staternents a￿ author15ed for issue. Our responslbllltles and the ￿pOnsibIlitIeS of the tru5tee5 wfth respert to golng concern are dexrlbed In the relevant 5ettlons of thls report. Other Informatlon The other information comprises the Infomiation included in the annual report other than the financial 5tateff￿nts and our audfftorfs le￿rt the￿On. The tiustee5 are responslble for the othEr Irrformatlon tontsined wlthln the annual report. Our opinion on the financial statements does not cover the other information and we do not eXp￿sS any fom of assurdnce conclu5*)n thereon. Our resFonslbllRy 1$ to read the other inforrnation and. in doing so. conslder whether the other information Is materially Inconsistent with the financlal ststernent5 or our knowledge obtalned In the course of the audtt. or otherwise ap￿£1$ to be materially mi55tated. If we Identlfy such materlal InconsL%ten¢les or apparent mèterial mlsststements, we are requlred tts determine whether thi5 gNes rise to 3 material misstatement in the financial Statements themsefves. If, based on the work we have perforrned, we conclude that there is a mèterlal misstatement of th￿ other Information, we are reqUI￿d to report thai We have n￿h1n&t0 report In thls regard. SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SCIENCE PROJEcrs Opinions on other matters prestribed bythe Companles Aci 21X)6 In our opinlon. based on the work undertaken in the iourse of the 3udit'. The Informatlon given in the Trustees, Annual Report for the financial year for which the fi.nancial statements are prepared is conslstent wilh the financial statewnents,. and The Trustees, Annu31 Report ha5 been prepared in accordance wkh appllcable legal requirEments. Matters on whleh we are required to report by eX￿PtIc+rt In light.of our knowledge and understandinE of the charitsble company and Its envlronrnent obtaSned in the course of our audit. we have not identrfied materlal misstatements in rhe Trustees, Annual Report. We have nothing io report in respect of the following matter5 in relètion to which the Companie5 Acl 21M)6 and the Charlties (Accounts and Report51 Regulations 2008 requires us to ￿Portt0 I￿U ff, In our opinion: the infomiatlon glven in the financial staternents is inconsistent in any rnaterial respect with the trustees. ￿port.. or sufficient accounting records have not been kept.. or the financial sta*ments are not in agreement with the accountlng records,. 01 we have not received all the iDform3tion and explanaiions we require for our audit. Responslbllltles of trusttrs As explèined rnore lully in the 5tstemeni of vullees, responsibillties. the trustees. who are also the directors of the Iharltable company for the purwse of comp3ny law, are responsible for the prepaRtion of the flnanclal statements and for belng satisfied that they glve a true and fair ¥￿w, and fDr such internal control as the trustees detemiine is nece55ary to enable the preparatlon of financial statementsth8t ère free from material misstateN*nt, whetherdue to fraud or error. In pre￿rIng the financial statements, the trustees are respon5Ible for assessln8the charitable company's ability to continue as a goine concem, diseloslng, as applicable, rnatters related to goins contern and usin8 the going toncerTr basis of attountlng unles5 the trustee5 either intend to liquldate the charitable company or to ¢ease operations. or have no realistic altemative but to do 50. Audltor's responsibilities for the audit of the Ilnancial statsmw)ts We have been appointed as auditor under section 144 of the Charfties Act 2011 and report In accordance with the Aci and relevènt re8ulatk*n5 made or having effectthereunder. Our objecknves are to obtsin reasonable assufan£e about whether the financial statement5 as a whole ale free from material misstatement, whether due tofraud orerror. and to issye an audltoe5 report thot includes our opinion. Reasonable assurance is a hlgh level of a55urante but is not a guarantee that an audit £oThdutted in èccordance with ISAS IUKI wlll always detect a material rnisstatement when tt exlsts. Mi5Stètements can èrise from fTaud or error and are consldered materlal if, irtdividually OT in th? age￿gate. they could ￿aSonablY be expetted to Influen￿ the etonomic dedsbns Of users taken on the ba515 of these linantial tydtemen The erteni to which our procedure5 are capable of detectln8 Irregu￿ritieS, Including fraud, 15 detsiled below. The primary responsibility for the prevention and detertion of fraud re#ed with Trustees and management and we Can￿￿ be expetted to detect nonnatlon, unle55 performance conditions requlre deferral of the amount. Income tax recoverable in relaticn to donat￿n5 received under Glft AJd or deeds of c¢)venant js reco8nlsed at the time of the donatlon. Le&acie5 are recognised on receipt or otherwise if the chartsble company has been riotif(ed of an irnpendln8 dlstrlbutlon. the amount ts kni)wn. and ￿teIpt is expetted. If the amount is not known. the legacy is treated as a contingent asset. 12- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ac(ountinE polic5es Icorrtlnuedl J.5 Éxpenditure ExpeThd1tU￿ is recogni5ed onEe there is a legal or constructive obligation to tran5fei economic beneflt to a third party. It Is probable that a transfer ol economlc benefits wlll be ￿quIred in 5ettlpment, and the amount of the obligation can be measured reliably. Expenditu￿ Is classified by attivty. The r05ts of each activity are made up ol the totsl of direct Costs and sha￿d costs. ncluding support costs involved in undertaking eath activity. Direct costs attributablÈ to a single actfvity are allocated fSirectly to that activity. Shared costs which contribute to more than one actlvity and support costs whkh are not 4ttributable to 3 Single attivity are 3PPOTtloned between those actlvltles on 3 basls consistent with the use of resources. CentTrl staff costs are all¢xated on the basis of tlme spenL and depreclatlon charges are allocated on the portion of the asset's use. 1.6 Tanglble fixed assets Tangible flxed a5set5 are initially measured at cost and subsequently measured at co# or valuat￿n. net of dep￿¢￿atIon nd any impairment losses. Depreciation is recognised SD as to write off the cost or valuation of assets les5 their resldual values over their useful INes on the following bases: ExhIb￿l￿n tent and floorlng Exhibf(s Equiprnent Motorvehicles 25% 20% 10-25% 25% The 8ain or loss art5ing Dn the disposal of an asset is detenrlned as the difference between the sale proceeds and the carrying value of the asset, and Is recoEnised In the stèrement of f1nanclal actfvitles. 1.7 Impairmert of flxed assets At each ￿Por￿n£ eThd dète. the charitable compary reviews the carrying amounis ot Its tsngible a55ets to determine whether there Is arw Indlcation that those assets have sUffe￿d an Impalrment loss. If any such indication exists. the recoverable amount of the asset is estimated in orderto determine the ertent of the impairment loss Ill any). 1.8 Stocks Stocks ty￿ stated at the bwer of c05t and Èstlmated sellinc Pr￿ less costs to complete and sell. Cost comprises dlrect materfals aThd, where applicab￿. dlrect labour tosts and those overheads that have beETh incurred In brln8in8 the 5to(k5 to thelr present ￿(atIon and condlt4on. Items held for dlstributlon at rKJ or nominol con5ider4tign are measured the lower of replacement cost and cost. Net reali5able value Is the estirnated 5ellin8 price less all estymated costs of completbn and wsts to be Incurred In rTrgrketing. selling and di#ribution. 1.9 Cash and ush equlwlents Cash and cash equNalents indude cash In hand, deposfts held at call with banks. othe¥ 5hort-term liquid Investments with origlnal maturlties of three TYK)￿hS or les5. and bank (werdrafts. 8ank overdrafts are Shown within borlowlngs in current Ilabiif(￿e5. 13- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI A)R THE YEAR EAIDED 31 DECEMBER 2025 Accounting policles Icontlnuedl 1.10 Fin•n¢lo1 Irotruments The charitable company has Èlerted to apply the provisions of Sectlon 11 '8asic Fithancial In5trvments' and Sectlon 12 'Other Financial Instrument5 Issues. of FRS 102 to all Dt itsfinancial Instrumènts. Financial in5trumen15 are recognlsed in the charitable companvs balance sheet when the eharitable tornpany becomes partyto the contractual provisions of the instrument. Financlal assets and liabilitie5 are offset. with the net amounts presented in the finaThclal statements. when there is lepplly enlorceable right to set off the recoEnised amounts and theo is an intentlon to settle on a net basis or to reallse the a55et and settle the Ilablllty Simultaneou￿Y. 8p$irfi#unciulossets Basic financial assets. which Include debtors and cash and bank balances. are in1tial￿ measured at transactlon prSce Includlng transèttion costs and are subsequently carried ai amonlsed cost usinR the effectNe Interest method unle55 the arrangement Constitutes a ftnancing transartion, where the trdll53Ction is measured at the present value of the future receipt5 discounted at a market rate of intelest. FiTrancial a55ets cla55ifsed as receivable within one year are not amortised. DerEcognltlDn oAJlnoKlolussets Flnanclal asseis are derecognised onfy when the contrdctual rightsto the cash flowsfrom the asset expire orare settled, or when the charitable ¢ompany transfers the financial asset and substantlally all the risk5 and rewards olownership to another entity, or if some 5i8ntficaTht risks 8nd rewèrds of ownership a￿ retained but control tsf the asset hastransferred to another partythat is able to sell the asset ln ts entlretyio an unielatedthird party. BosKAln4nd*lll#bllttks Bask financlal 114biltties. includlng treditors and bank loans a￿ initialty rerognbed at tQn5action pri￿ unle55 the arrangement constitutes a financlng transactlon. where the debt Instrument Is ￿asured at the present value of the future wymenrs dlscounted at a market tste of Interest. Flnancial liabillties classrfied as payable wlthin one year 8re not amortlsed. Debt Instrumentsare subsequently rjrrled at amortised Cost, usin8 the effectiwe interest rate method. Tt7de credltors are obllgatlon5 to pay for 8oods or setvices that have i*en acqulred In the ordinary course of operations from suppliers. Amounts payable are cla55tned a5 current IlabSltties If payment Is wlthln one year or le55. If not. thev re presented as non-eurrent liabilities. Trade creditors are recognised initially at transactlon price and subsequently meaSU￿d ai amortlsed cost u%ng the effective interest method. Flnanclal liabilltles are derecognlsed when the charttable mmpanvs contractual obliBatlons explre or are dis¢har8ed or iancelled. 1.11 T•x•tlon Sclence Prolects, actlvltles arè exempt from w¥kK)r4tioD tax where thevre wlthln the tharitsble compary's prlmary purpose. 1.12 Employee beneftts The Cost of any unused holiday enti(lement Is recognlsed In the perfod in whih the empbyee's Se￿•ceS 3re received. Termlnatlon beneffts are recognlsed Immediate￿ as an expense when the charftaNe company Is demonstrabty committed to terminate the employment of 8Th employee or to provldeternilnatlon beneffts. 14- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Attounting policies Icontinuedl 1.13 Retlremenl bentfits Payments to deflned contriblrtion retirement benefit schemes are charged as an expense as they fall due. Criti(al att¢)untlNa e5tlmate5 and ludgernents In the appllcation of the charltable comp£ny's accounting policies, the trustees a￿ reqUI￿d io make ludBernents, e5timate5 and assumption5 athut the corrying amount ol a55et5 and Ilabilitie5 that are not readily ap￿￿nI from other sources. Thè Èstimates and associated assumptlons are based on himorlcal experients and other factors that are considered to be ￿l￿Vant. Actual resulrs may dlfferfrorn these estimates. The estlmates and under￿Ing assumptions are re￿eWed on an ongoing ba515. Revlsions to accountlng estimates are recognised In the perlod in which the estimate is revised where the revision 8lfect5 only that Feric￿, or in the perlod of the revision and future periods where the revision affe£ts both current and future Feriods. Key Èstimates made by the charltable company in the pre￿ratIOn of thesè financlal 5tsternents include the stage of completion of WoT￿h0￿ e¥hlbft production prolect5. Income Irom donatlon5 arKI le8atles UnTe51ri¢ted fund5 2025 Re￿Ikted funds 2015 Total Unreslrleted funds 2024 Restrlcted funds 2024 Totsl 2015 2024 GTrnt$ 2,194 7,415 12,33S 12,335 Expend￿￿r4 on raklnÉfund$ UnrestrldÈd Unre5trtcted fvnds f￿d5 Z025 2024 Fundr•15ine And publlclty Publiclty 20,159 24,325 15- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTESTO THE FINANCIALSTATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 E¥pendtture on cha￿table actlvltles Exhlblt 5¢iert¢e manula¢tur* centre and exNbltion hlre Z025 Total Exhlblt Science marnrfacture ¢entre and èxhibitlort hlrè 2024 Total 202S 2025 2024 21)24 Dlre¢t costs Staff costs Depreciation and impaSrment OtheT Costs 303,747 15.414 do5,￿1 493,993 797.740 15.414 580,781 257,867 19,195 347.055 476,029 733,896 19.19S 498.236 175.780 151.181 724.162 669,773 1,393.935 624,117 627,210 1.2SI.327 Shar• Of support and 8o¥ernan¢e ¢osts lsee Mte 61 Governance 41.907 41.SY17 83,814 47.450 47,449 94,899 766,069 711.680 1.477,749 671.567 674.659 1,346.226 Analys1$ byfvnd Unrestricted funds RestrKted funds 766.069 711,489 191 1,477,558 191 671.567 669.712 4.947 1,341.279 4,947 766.(k$9 711,680 1,477,749 671,567 674,659 1,346,226 5upp¢rt ¢osts allo¢ated to adfvkles 2025 2024 stsff costs Govemance c()sts 68,280 15,534 6L208 33.691 83,814 94,899 Analysed bètwèen: Exhibit manufacture Science certre and exhibr£ion hlre 41.907 41.907 47.450 47,449 83.814 94,899 16- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE 140TES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs allocated to attl¥ities (Continued) 2025 2024 Governance costs comprlse: Audit fee5 Actountancv Legal and professional 13.500 2.fXJO 34 12,(XlO 21,657 34 15,534 33,691 In common wr(h nornial practice in charities, no omuneration has been palé to the dlrector5 (who 2re the trustees), except that by a special diSPen￿tion of the Chaflty Commi5slon, the other directors approved a payment to the outgoing Chief Executlve Officer, Mr Plzzeyi of £15.21412024.. £37,151) lor his servlces duringihe year. Employees The average monthly number ol employees durin8 the yèar was.. 2025 Number 2024 Number Educational services Management and administratlon of the charitv 35 35 Totsl 38 Employment costs 2015 2024 Wages and salèrle5 Social security costs Other penslon ctssts 782.505 69,921 13.$94 727.724 55,014 12.366 866,020 795,104 The nUrn￿r of employees whose annual remuneration was more than £60,000 is as lollows.. 2025 Number 2024 Numbèr £@J,TrJO- £70,ofKI 17- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2025 Employee5 Icontlnuedl RerNneration of key m?na8ement personnèl The remuneration of key management pe￿O￿ne1. which Includes two members of senlor management and one rernunerated Trustee. was as follow5.' 2025 g￿tate comFensation 94,942 37,151 In common with normal practice In charltles, no rernuner3t￿ has been pald to the dlrertors Iwho are the truthesl. except that by 3 Special dispensation of the Charity Commlsslon, the other directors approved a payment to the outgolTrg Chief Executlve Officer. Mr Pizzeyi of £15.21412024.' £37,151) for hi5 services durin8 the year. Taxation The charlty Is exempt from taxation on its actNities betèuse all its income Is applled for Charitab￿ purposes. 10 Tanglble fI￿d assrts ExNbMs Eqyipment Mowrwt*l•i •ndllDorl At l JanL4ry 2025 Additions Dlsposals 12S,S14 1.243,555 684.1)49 7.069 28,562 2,081.680 7.069 117,1401 117,1401 At 31 DecemEer 2025 125.514 1,243,SSS 691,118 11,422 2.071,609 Depreciatlon and Impalmient At l January 2025 Depreclatk)n charged In the Eliminated in resFect ot dLspos81s 125,514 1.243.283 91 fA)9,391 15,323 28,562 2.0￿,?50 15.414 117,1401 117,1401 At 31 Decemter 2025 125,514 1,243,374 624,714 11.422 2,005.024 Carryln8 amount At 31 December 202S 66,404 66.585 At 31 December 2024 272 74.658 74.930 18- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE 140TES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 11 Stotks 2025 2024 Raw rnaterials and consumable5 Work in progress 16,121 16.773 3.004 16,121 19.777 12 DebtOT5 2025 2D24 Amounts falllng due within one yeai.. Trade debtors Amount5 retoverabk on contracts Other debtors Prepayments and accrued Incorne 23.026 39.374 34,290 15,911 39.931 20,145 23,688 30.998 112,601 114,762 13 Creditor5'. dmriunts falling due ￿￿thIn one year 2025 Z024 othertatstitin 2nd social security Payments ￿te1Ved on account Trnde credrf(ors Othercreditor5 Accruals and deferred lTrcome 23.566 34.681 11,953 22,193 11.719 20,158 2g,078 11.138 3,199 16,469 104.112 80,042 14 Retirement benèfitsthemes 2025 Defined tortrfl)utlon 5(hem•s Charge 10 Statement of financial activf(les in respect of deflned CDntribution Schemes 13.594 12,366 The charitable iomparby operates a defftned rontrlbutlon penslon scheme lor all quèlifying empbyees. The a55et5 of the scheme are held separately from those of the charhable company in an independently admin1s1e￿d fund. SCIENCE PROJEcrs COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S 15 ReSt￿rted firnds The restrid¢d funds of the charrty comprlse the unexpended balances ol Llonatioris and grénts held on trust sublert to specrfic condr(Ion5 by donors as to how they may be used. At I january 2025 Incorning resou￿e5 Resourtes At 31 December •Mpended 2025 The Associatlon for Science and Discovery Centres 7.415 11911 7,224 Prevlous year: At IJBnuary 20Z4 In¢omln8 rexiurce5 Re50urfes Al 31 Dpcember expended 2024 The knciation for klence and Dlscovery Centres The Wolfstsn Foundation 3.642 1,305 13.6421 11,3051 4,947 14.9471 16 Unrestrlrted funds The unre5trlcted funds of the charity comprise the unexpended balances of donations and grants which 3re not subject to specific conditions by donors and gontors asttk how they rnay be used. These include de51gnated funds whlch have been set aslde out of unrestricted fund5 by the trustee5 for specffic purposes. At l January 202S Incoml Resour￿ At 31 Oecembtr expended 2025 General funds 726.908 1,226,666 11.497,7171 455,857 Prwlous wr: At l Jsnuary 2024 Incoml r•sourc•s RL*<>uru$ At YI December expended 2024 General fund5 817,383 1.275.129 11,365.6041 726,9C -20- SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR EAIDED 31 DECEMBER 2025 17 Analysls of net assOt$ b•tween frjnds Unrestrirted fvnds 2025 Restrlcted tUTK15 2025 Totsl 2025 At 31 December Z025: Tangible assets Current as5etsllliabilitiesl 66,585 389,272 66.58S 396,496 7.224 455.857 7.224 463.081 Unrestrirted fvnds 1014 Reslrfcted fund5 2024 TotAI 2024 At 31 December2024'. Tangible èssets cuf￿nt assetsllllabilitlesl 74.930 651.978 74.930 651.978 726,908 726.￿8 18 Qptratlw lease commitm•nts Ltsste At the reporting end date the charitable company had outstèndlng comrnltments for future mlnlmum lease payrnent$ under norrfancellable operatlng I￿seS, whlch fall due asfollow5'. Z025 2024 Wfthin one year Later than one year and wlthln fNe years In over ffveyears 82.860 158.715 141,840 82.860 176.152 383,415 259.012 19 Related party transartlons Aslde frtsm as disclosed In note 7. there have been no related party trdn5aciioDS to disclose In the year. Durln8 the prior year. the company received servlces on normal tradlng terms from Allsop Business se￿ICe5 in which Mi R A1150p has aTr interest, at è tost of £21.657. 21 SCIENCE PROJECTS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL sTATEME1￿rs ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 20 Cash absorbed by operattons 2025 2014 Deficit forthe year 1263,8271 195.4221 Adjustments for: Investn*nl income ￿toEniSed in statement of financial 8ctivrties DeprecIat￿n and Impairment of tangible fixed assets 16,0691 15,414 19,4891 19.19S Movements In worklng (aplial: De(￿aSe in stocks Oecreaselllncreasel in debttsrs Increase/(de£￿asel in credito[5 3.656 2,161 24,070 1,114 110.9381 116.3311 Cash absorb•d by operatltsn$ 1224,59SI 1111,8711 11 Anaty5i5 ol chang￿ In net funds The charitable company had no material debt dU￿n8the year. -22-