2021-12-31-accounts - Dean Heritage Museum Trust

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REGISTERED COMPANY NUMBER: 01931454 (England and Wales) REGISTERED CHARITY NUMBER: 298647

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

DEAN HERITAGE MUSEUM TRUST

Centora Ltd Jury Farm, Ripley Lane West Horsley KT24 6JT

DEAN HERITAGE MUSEUM TRUST

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
	Page
Report of the Trustees	3 to 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8 to 9
Notes to the Financial Statements	10 to 15
Detailed Statement of Financial Activities	16

Page 2

Dean Heritage Centre A company limited by guarantee

Dean Heritage Centre Trustees report for year ending 31 December 2021.

Summary

The Dean Heritage Centre is an accredited museum located in the historic Forest of Dean, but we are far more than just a museum. The building itself has had more than six different uses over a 400-year period, beginning life as an iron forge to support the iron ore mining activity which has been a part of the area since 500BC. It now houses a collection of over 20,000 items, all relating to the rich cultural history of the area.

In 1979 Forest of Dean Rotary Club instigated the formation of the Dean Heritage Museum Trust, in recognition that the unique cultural heritage of the area was being lost. In 1983 the building at Camp Mill was entrusted to the local council for use by the Trust to open a museum to house the collection and provide information and enjoyment to visitors wishing to understand more about the area. The stated aims of the Charity are to provide a local museum with articles and stories from the local area and provide education about all aspects of the Forest of Dean, it’s history, geology flora and fauna. We also now house a local area reference library housing thousands of maps, pamphlets and pictures and are the depositary for local archaeological finds.

In addition to welcoming 20,000 visitors each year, the centre also hosts a number of school groups (2,000 children) through a programme of interactive learning days which are linked to different aspects of the National Curriculum. Through the school holidays children can take part in practical activities and workshops covering a wide variety of topics. Our chainsaw carvers operate at one end of the site – rather unique skills to watch.

Since 2018 the onsite Café has been taken in house and now runs directly for the benefit of the Heritage Centre.

The Dean Heritage Centre provides

An in-door museum experience telling the story of the Forest’s geology and archaeology from the ice-age to the present day, the medieval hunting forest, and its mining, industrial and engineering history, and the people who have lived and worked here through the ages.
The Dennis Potter collection of manuscripts and a reconstructed living room from his childhood home in the Forest of Dean.
A Victorian school-room brought to life by lessons given by a Victorian school mistress
A traditional Forester’s cottage and cottage garden.

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A five-acre site with outdoor exhibits and woodland trails specifically designed for children, such as our Gruffalo trail featuring larger-than-life carved wooden Gruffalos, foxes, owls and snakes.
WW1 trenches used to bring war experiences to life, especially for historical education days for schools.
A children’s playground.
A working mill waterwheel demonstrating eco-generation of electric power.
An annual three-day traditional charcoal burn in our charcoal burners’ camp.
Demonstrations of chainsaw carving.
A café and a shop which includes space where local artisans can sell their work.
Enjoyment of the Centre’s beautiful forest location.

Museum and Cafe

2021 Report

Once again, the pandemic affected trading almost throughout the year with restrictions changing as the year went on. It was impossible to compare figures in a meaningful way.

The Trustees advertised and recruited for a new Centre Manager and Mark George, experienced working in museum environments and running a business, started in May. He took stock of how the Centre runs through the summer and, in Autumn, applied for and was awarded and Covid Recovery Grant from the NLHF, giving us significant funds to cover staff salaries, core funds and to build reserves.

The Centre was notified that the owner of the clocks exhibited at the Centre, Mr Voyce, had passed away and left the clocks, plus proceeds from his property to the Dean Heritage Museum Trust. This money will not come through for about 12 months, but we expect it to create opportunities for some bigger plans in the near future. The Trustees are very grateful for this legacy which could make a significant difference to the museum going forward.

The Trustee Board is now quite well balanced, with the group having a wealth of experience in almost every business and heritage area.

After some tumultuous years as Chair of Trustees, with multiple changes of manager and the Covid pandemic, I resigned the chairmanship of the trustee board and my vice chair, Iain Baird, has taken on the Chairs role. I shall stay on the board to help with the Finance and Marketing.

Ms A J Breton Chair of Trustees

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DEAN HERITAGE MUSEUM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01931454 (England and Wales)

Registered Charity number

298647

Registered office

Dean Heritage Centre Camp Mill Soudley Cinderford Gloucestershire GL14 2UB

Trustees

Mr R I Baird, Education Consultant Mrs A J Breton, Company Director Mr T F Cotterell, Senior Curator Ms S M Dudley, Marketing Consultant (resigned 21.4.22) Ms A Hill, Volunteer Coordinator (appointed 15.4.21) (resigned 21.4.22) Mr P A Smith, Commercial Director Mr N Goodison, Finance Director (appointed 18.11.21) Mr S P Greenway, (appointed 19.5.22) Mrs E J Skelton, (appointed 21.7.22)

Company Secretary

Mr T F Cotterell

Independent Examiner

Centora Ltd Jury Farm Ripley Lane West Horsley KT24 6JT SIGNED SECURELY Approved by order of the board of trustees on ............................................. and signed on its behalf by: 03/10/2022 at 10:18:39 AM UTC

SIGNED SECURELY

.............................................................................. 03/10/2022 at 10:18:39 AM UTC Mrs A J Breton - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEAN HERITAGE MUSEUM TRUST

Independent examiner's report to the trustees of Dean Heritage Museum Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCMA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

K D N De Silva FCMA Centora Ltd Jury Farm, Ripley Lane West Horsley KT24 6JT

Date: ............................................. 03/10/2022

Page 6

DEAN HERITAGE MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,148 Charitable activities Operation of heritage centre 153,131 Admissions & Season Tickets 44,656 Other trading activities 2 104,331 Investment income 3 3 Other income 373 Total 313,641 EXPENDITURE ON Raising funds (4,058) Charitable activities Operation of heritage centre 67,359 Direct Costs 44,674 Staff Costs 129,352 Other 4,859 Total 242,186 NET INCOME 71,455 RECONCILIATION OF FUNDS Total funds brought forward (20,249) TOTAL FUNDS CARRIED FORWARD 51,206	Restricted funds £ - 41,800 - - - 479 42,280 - 12,807 - - - 12,807 29,473 341,070 370,543	31.12.21 31.12.20 Total Total funds funds £ £ 11,148 11,943 194,931 104,105 44,656 16,151 104,331 62,410 3 4 852 30,756 355,921 225,369 (4,058) - 80,166 78,206 44,674 35,097 129,352 106,506 4,859 - 254,993 219,809 100,928 5,560 320,821 315,261 421,749 320,821	31.12.21 31.12.20 Total Total funds funds £ £ 11,148 11,943 194,931 104,105 44,656 16,151 104,331 62,410 3 4 852 30,756 355,921 225,369 (4,058) - 80,166 78,206 44,674 35,097 129,352 106,506 4,859 - 254,993 219,809 100,928 5,560 320,821 315,261 421,749 320,821
			225,369
			- 78,206 35,097 106,506 -
			219,809
			5,560 315,261
			320,821

The notes form part of these financial statements

Page 7

DEAN HERITAGE MUSEUM TRUST

BALANCE SHEET 31 DECEMBER 2021

Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 2,162 Heritage assets 9 - 2,162 CURRENT ASSETS Stocks 10 - Debtors 11 881 Cash at bank and in hand 88,971 89,852 CREDITORS Amounts falling due within one year 12 (23,725) NET CURRENT ASSETS 66,127 TOTAL ASSETS LESS CURRENT LIABILITIES 68,289 CREDITORS Amounts falling due after more than one year 13 (17,083) NET ASSETS 51,206 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted funds £ 336,014 2,971 338,985 4,058 - 30,336 34,394 (2,836) 31,558 370,543 - 370,543	31.12.21 Total funds £ 338,176 2,971 341,147 4,058 881 119,307 124,246 (26,561) 97,685 438,832 (17,083) 421,749 51,206 370,543 421,749	31.12.20 Total funds £ 350,259 2,971 353,230 4,859 1,560 29,365 35,784 (64,976) (29,192) 324,038 (3,217) 320,821 (20,249) 341,070 320,821

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

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DEAN HERITAGE MUSEUM TRUST

BALANCE SHEET - continued

31 DECEMBER 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. SIGNED SECURELY

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were 03/10/2022 at 10:18:39 AM UTC signed on its behalf by:

SIGNED SECURELY

............................................. 03/10/2022 at 10:18:39 AM UTC Mrs A J Breton - Trustee

The notes form part of these financial statements

Page 9

DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

	31.12.21	31.12.20
	£	£
Shop income	20,911	7,705
Café sales	65,610	39,998
Other sales	17,487	14,307
Premises hire	323	400
	104,331	62,410

continued...

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DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

3. INVESTMENT INCOME

INVESTMENT INCOME
	31.12.21	31.12.20
	£	£
Deposit account interest	3	4

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):
	31.12.21	31.12.20
	£	£
Depreciation - owned assets	12,808	12,583
Surplus on disposal of fixed assets	(479)	-

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

			31.12.21		31.12.20
	Employees		16		21
	No employees received emoluments in excess of £25,000.
7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted		Total
		funds	funds		funds
		£	£		£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	11,943		-	11,943
	Charitable activities
	Operation of heritage centre	73,605	30,500		104,105
	Admissions & Season Tickets	16,151		-	16,151
	Other trading activities	62,410		-	62,410
	Investment income	4		-	4
	Other income	30,756		-	30,756
	Total	194,870	30,499		225,369
	EXPENDITURE ON
	Charitable activities
	Operation of heritage centre	65,083	13,123		78,206
	Direct Costs	35,097		-	35,097
	Staff Costs	106,506		-	106,506
	Other	(1,247)	1,247		-
	Total	205,439	14,370		219,809

continued...

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DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2021

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1 January 2021 Additions At 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 9. HERITAGE ASSETS MARKET VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020	Unrestricted funds £ (10,569) (759) (11,328) (8,921) (20,249) Freehold Plant and property machinery £ £ 495,378 27,144 - - 495,378 27,144 159,352 24,132 9,738 1,557 169,090 25,689 326,288 1,455 336,026 3,012	Restricted funds £ 16,129 759 16,888 324,182 341,070 Fixtures and fittings £ 175,498 725 176,223 164,277 1,513 165,790 10,433 11,221	Total funds £ 5,560 - 5,560 315,261 320,821 Totals £ 698,020 725 698,745 347,761 12,808 360,569 338,176 350,259 Total £ 2,971 2,971 2,971	Total funds £ 5,560 -
				5,560 315,261
				320,821

continued...

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DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10.	STOCKS
		31.12.21	31.12.20
		£	£
	Finished goods	4,058	4,859
11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Trade debtors	235	35
	Other debtors	646	681
	Prepayments	-	844
		881	1,560
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Bank loans and overdrafts (see note 14)	-	12,878
	Other loans (see note 14)	10,983	34,195
	Trade creditors	5,213	2,893
	Social security and other taxes	1,794	1,271
	Pensions payable	507	403
	VAT	5,064	7,365
	Accrued expenses	3,000	5,971
		26,561	64,976
13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		31.12.21	31.12.20
		£	£
	Other loans (see note 14)	17,083	3,217
14.	LOANS
	An analysis of the maturity of loans is given below:
		31.12.21	31.12.20
		£	£
	Amounts falling due within one year on demand:
	Bank overdrafts	-	12,878
	CAF Loan	5,983	9,195
	Bounce Back Loan	5,000	25,000
		10,983	47,073
	Amounts falling between one and two years:
	Other loans - CAF	-	3,217
	Amounts falling due between two and five years:
	Bounce Back Loan 2-5 years	17,083	-

continued...

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DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

15. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
			Net
			movement		At
		At 1.1.21	in funds	31.12.21
		£	£		£
Unrestricted funds
Operation of heritage centre		(20,249)	71,455		51,206
Restricted funds
Operation of heritage centre		341,070	29,473		370,543
TOTAL FUNDS		320,821	100,928		421,749
Net movement in funds, included in the above	are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£		£
Unrestricted funds
Operation of heritage centre		313,641	(242,186)		71,455
Restricted funds
Operation of heritage centre		42,280	(12,807)		29,473
TOTAL FUNDS		355,921	(254,993)		100,928
Comparatives for movement in funds
		Net	Transfers
		movement	between		At
	At 1.1.20	in funds	funds	31.12.20
	£	£	£		£
Unrestricted funds
Operation of heritage centre	(8,921)	(10,569)	(759)		(20,249)
Restricted funds
Operation of heritage centre	324,182	16,129	759		341,070
TOTAL FUNDS	315,261	5,560	-		320,821
Comparative net movement in funds, included	in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£		£
Unrestricted funds
Operation of heritage centre		194,870	(205,439)		(10,569)
Restricted funds
Operation of heritage centre		30,499	(14,370)		16,129
TOTAL FUNDS		225,369	(219,809)		5,560

continued...

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DEAN HERITAGE MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds Operation of heritage centre Restricted funds Operation of heritage centre TOTAL FUNDS	Net movement At 1.1.20 in funds £ £ (8,921) 60,886 324,182 45,602 315,261 106,488	Transfers between funds £ (759) 759 -	At 31.12.21 £ 51,206 370,543 421,749

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds Operation of heritage centre Restricted funds Operation of heritage centre TOTAL FUNDS	Incoming resources £ 508,511 72,779 581,290	Resources Movement expended in funds £ £ (447,625) 60,886 (27,177) 45,602 (474,802) 106,488

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

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DEAN HERITAGE MUSEUM TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
	31.12.21	31.12.20
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Gifts	11,148	11,943
Other trading activities
Shop income	20,911	7,705
Café sales	65,610	39,998
Other sales	17,487	14,307
Premises hire	323	400
	104,331	62,410
Investment income
Deposit account interest	3	4
Charitable activities
Grants	159,770	58,102
Admissions	44,656	16,151
HMRC JRS Grant	35,161	45,276
EOTHO Grant	-	727
	239,587	120,256
Other income
Gain on sale of tangible fixed assets	479	-
Electricity income	-	3
General fundraising	373	41
Insurance claim	-	30,712
	852	30,756
Total incoming resources	355,921	225,369
EXPENDITURE
Other trading activities
Closing stock	(4,058)	-
Charitable activities
Wages	127,151	104,151
Social security	528	1,115
Pensions	1,673	1,240
Direct costs	44,674	32,097
Support costs	80,166	81,206
	254,192	219,809
Other
Opening stock	4,859	-
Total resources expended	254,993	219,809
Net income	100,928	5,560

This page does not form part of the statutory financial statements

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