2023-12-31-accounts

Charity number: 311348

THE WATERBEACH CHARITY UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE WATERBEACH CHARITY

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CONTENTS

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Page| |Reference|and|administrative|details of the|Charity,|its Trustees|and|advisers|1| |Trustees‘|report|2-4| |Independent|examiner's|report|5-8| |Statement of financial|activities|7|.| |Balance sheet|8| |Notes|to the financial statements|9-19| |The|following|pages|do|not|form|part of the|statutory|financial|statements:| |Charity|Detailed income and expenditure|account and stiimmaries|17-18|

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THE WATERBEACH CHARITY

REFERENCE AND	ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEESAND ADVISERS	ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEESAND ADVISERS
	FOR THE YEAR	ENDED 31 DECEMBER 2023
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Trustees	MrC Bryant, Chair
	Dr R M Witlamson
	The Revd Paul Butler
	MrA Read (resigned	1 December 2023)
	MrR Stobart (resigned 22 March 2023)
	Mrs KAstley (resigned 22 March 2023)
	MrA Glover (appointed 21 September2023)
Charity registered
number	311348
Principal office	33 Bannold Road
	Waterbeach
	Cambridgeshire
	CB25 GLa
Accountants	Whitings LLP
	George Court
	Bartholomew's Walk
	Ely
	Cambridgeshire
	CBT 4UW
Bankers	Meiro Bank
	Unit 1 Christ's Lane
	Cambridge
	Cambridgeshire
	CB2 3BZ
Solicitors	Hewitson
	Shakespeare Hause
	42 Newmarket Road
	Carnbridge
	Cambridgeshire
	CB5BEP

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THE WATERBEACH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 teammatennn nee nee tpg The Trustees present their annual report together with the financial statements of the The Waterbeach Charity for the year 1 January 2023 to 31 December 2023.

Objectives and activities

a. Policies and objectives

The Waterbeach Charity distributes its income via 3 charities for the public benefit of the children who attend Crurch of England schools in the Ely Diocese, to the Church of St Jahn the Evangelist in Waterbeach and to the people of Waterbeach Parish who may need financial assistance. The distribution split between the three charities is as follows: Ely Diccesan Board of Education - 57.00% Waterbeach Ecclesiastical Charity - 24.50% Waterbeach United Charities -~ 18.50%

in setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission retating to public benefit, including the guidance ‘Public benefit: running a charity (PB2y.

b, Activities undertaken to achieve objectives

The trustees aim to achieve steady income and capital growth ta maximise investment returns. The majority of the capital is to be invested in equities of UK and overseas companies operating ethical policies. Diversity is to be obtained with the investments in property amd fixed interest security funds. The whole portfolio is to be managed by one or more professional management cornpanies. Land and property owned by the charity is to be fel at the prevailing rate and reviewed periodically within the terms of the tenancy agreement. The trustees have the right to buy or sell land or proparty for the benefit if and when such a need arises.

Achievements and performance

a. Key performance indicators

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|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022|2027|2020|2019| |a|%|Ya|%|%| |Charity's|Return|+|Growth|9.00|(8.00)|15.00|9,06|19.90| |Investment|Benchmarks| |Average|Bank|Base|Rate|4.73|4.44|0.10|6.10|0.70| |Retail|Price|Index|5.20|13.40|§.30|0.80|2.00| |FT-SE Capital Growth|2.40|18.30|44.34|(14.55)|47.30|

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The long term reinvestment of capital returns into the CCLA Investment continues to give above average income with the market value of the portfolio at above £4 million pounds.

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THE WATERBEACH CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

b. Review of activities

Unrestricted Funds

Grant distributions during the year totalled £133,517 (2022 - £134,359

Ely Diocesan Board of Education £76,106 (2022 - £76,585) Waterbeach Ecclesiastical Charity £32,712 (2022 - £32,918) Waterbeach United Charities £24,700 (2022 - £24,098)

This represents a neutral position (2022 - neutral performance position).

Endowment Funds

The investment portfolio invested in the Church of England investment and Property Fudns wereboth impacted by high inflation but still managed to get goad returns. The trustees held 2 (2022 - 2} meetings during the year to consider the affairs of the charity.

Financial review

a, Going concern

After making appropriate enauiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continus fo adapt the gaing concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be faund in the accounting policies.

b. Reserves policy

The charity distributes all net operating surpluses to the 3 beneficiary charities, except for a £2,000 buffer reserve. As these distributions are made quarterly in arrears, and as any shortfall in funds could potentially be supplemented by realising invesiments, no further amounts of unrestricted funds are felt necessary to be retaines as "reserves",

Structure, governance and management

a, Constitution

The Waterbeach Charity is a registered charity, number 311348, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed,

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THE WATERBEACH CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 sineinnernn erent eps ener erential nnnntennpeeine tintin iets tte

Statement of Trustees‘ responsibilities

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),

The law applicable to charities in England & Wales requires the Trustees to prepare financial staternents for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trusiees are required to:

• ® select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102):

• e make judgments and accounting estimates that are reasonable and prudent; * state whether applicable UK Accounting Standards (FRS 102} have been followed, subject fo any material

• departures disclosed and explained in the financial slaterents:

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial pasition of the Charity and enable them to ensure that the financial staternents comply with the Charities Act 2011, the Charity {Accounts and Reports} Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

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DB J Armstrong
Charity Secretary ; .
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THE WATERBEACH CHARITY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

independent examiner's report to the Trustees of The Waterbeach Charity (the Charity’)

| report fo the charity Trusteas on my examination of the accounts of tne Charity for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Act 20114 (the 2014 Act).

I report in respect of my examination of the Charity's accounts carried out under sectian 145 of the 2011 Act and in carrying out my examination | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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THE WATERBEACH CHARITY

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 tn eit enero nytt orem npn pitt ise

independent examiner's statement

Your attention is drawn to tne fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. | understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 7 January 2015. i have completed my examination. | confirm that no matters have come te my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 136 of the 2017 Act or

2. ihe accounts do not accord with those records; or

3. fhe accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matier considered as part of an independent examination.

| 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.

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This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports} Regulations 2008. My work has been undertaken so that | might state to the Charity's
Trustees those matters | am required to state to them in an Independent examiner's tepart and for no other
purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the
Charity and the Charity's Trustees as a bady, for my work or for this report.
Signed:[GC. Piper,4s F.C.A.a—ao goaa Dated:, ‘Lomea. Al yv ~ As e
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Partner, Whitings LLP George Court Bartholomew's Walk rly Cambridgeshire CB? 45W

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THE WATERBEACH CHARITY

		STATEMENT	STATEMENT	OF FINANCIAL	ACTIVITIES	ACTIVITIES
	FOR THE YEAR ENDED 31 DECEMBER 2023
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				Endowment	Unrestricted		Total	Tatail
				funds		funds	funds	funds
				2023		2023	2023	2022
			Note	£		£	£	£
Income and endowments from:
Investments			3	-		138,435	138,435	137,565
Total income and endowments				~		438,435	138,435	137,565
Expenditure on:
Charitable activities				-		138,435	438,435	137,565
Total expenditure				-		438,435	138,435	137,564
Net income before net gains/{losses}
on investments				-		-	~	-
Revaluation on listed investments		and
freehold property				382,112		-	382,112	{446,475}
Netmovement infunds				382,112		*	382,712	(450,474)
Reconciliation offunds:
Total funds brought forward				4,530,006		2,008	4,532,006	4,982,481
Netmovement in funds				382,742		-	382,742	(450,475)
Totalfundscarriedforward				4,312,118		2,000	4,944,418	4,532,006

The Statement of financia! activities includes all gains and losses racognised in the year.

The notes on pages 9 to 18 form part of these financial statements.

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THE WATERBEACH CHARITY

BALANCE SHEET AS AT 31 DECEMBER 2023

			2023		2022
	Note		£		£
Fixed assets
Tangible assets	7		685,006		565,000
Invesiments	&		4,227,178		3,985,007
			4,912,418		4,530,007
Current assets
Sebtors	10	4,682		4,661
Cash at bank and in hand		2,005		2,005
		6,687		6,686
Creditors: amounis falling due within one
year	4	(4,687)		(4,687)
Net current assets			2,000		7,929
Total assets less current flabilities			4,974,118		4,532,006
Net assets excluding pension asset			4,914,118		4,832,006
Total netassets			4,914,118		4,532,006
Charityfunds
Endowment funds			4,912,118		4,530,006
Restricted funds			-		-
Unrestricted funds			2,060		2,000
Totalfunds			4,514,448		4,532,006

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr cC Bryant

Date: 2.1 | A \ bee Me

The notes on pages 9 to 16 form part of these financial statements.

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THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

+, General information

Enter taxt here - user input

a. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Charities Act 2011.

The financial statements have been prepared ta give e ‘true and fair’ view and have departed fram the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 7 April 2005 which has since been withdrawn.

The Waterbeach Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

• 2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

23 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not atiributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs ere allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged In the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject te conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

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THE WATERBEACH CHARITY

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 attennenre-inenensntninnivnsittinnreennnn atin einrenteiperetpn t t i ieny ony o o

2, Accounting policies (continued)

2.4 Interest receivable

interest on funds held on deposit is included when receivable and the amount can be measured rellably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing ENIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably,

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment iosses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided an the following basis:

2.6 Investments

Fixed asset investments are a form of financial instrument and are inftially recognised at their lransaction cast and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/{Losses} on investments’ in the Statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or fess from the date of acquisition or opening of the deposit or similar account.

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THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 annareentrantterete ent np

2. Accounting policies (continued)

2.9 Llabliities and provisions

Liabilities are recognised when there is an obligation af the Balance sheet date as a result of a past event, it is probable that a transfer of econamic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the arnount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of thase amounts, discounted at the pre-fax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.16 Financial instruments

The Charity only has financial assets and financial tiabilities of a kind that qualify as basic financial! instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the excention of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated far other purposes.

investment income, gains and losses are allocated to the approoriate fund.

1. Investment Income

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	z	£	£
Rental Income	15,799	18,799	15,496
Listed investmentincome	122,636	122,636	122,044
invesiment income - local cash	~	~	28
	138,435	138,435	137,565

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THE WATERBEACH CHARITY

HOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4, Scheme Distributions

	Grants to	Grants to	Total	Total
	instiutions	Individuals	funds	funds
	2623	2023	2023	2022
	z	£	£	£
ElyDiocesan Board ofEducation	76,705	-	76,708	76,588
Waterbeach Ecclesiatical Charity	32,712	~	32,712	32,918
Waterbeach United Charities	24,700	-	24,700	24,856
	133,517	-	133,517	134,359

5. Analysis of expenditure

	Grant
	funding of activities	Support costs	Total funds	Tata! funds
	2023	2023	2023	2022
	£	£	£	£
ElyDiocesan Board ofEducation	76,105	-	76,105	76,586
Waterbeach Ecclesiastical Charity	32,712	“	32,712	32,978
Waterbeach United Charities	24,700	-	24,700	24,856
Support costs	-	4,918	4,918	3,206
Total 2023	133,517	4,948	438,435	137,865
Total2022	434,360	3,206	137,566

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THE WATERBEACH CHARITY

MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure (continued)

Analysis of support costs

	Support	Total funds	Total funds
	2023	2023	2022
	£	£	£
Clerk's honorarium	2,000	2,000	7,900
insurances	440	440	392
Valuation costs	1,500	4,506	-
independent examiner's fea	978	978	G14
Total2023	4918	4,918	3,206

&. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 ~ ENIL).

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - ENIL}.

7. Tangible fixed assets

	Freshold
	property
	£
Cost or valuation
At 1 January2023	565,000
Revaluations	120,600
At 31 December2023	635,000
Net book value
At 31 December2023	685,006
Ai 31December2022	565,000

THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2623 ttnnentnennonnreennriinstnninspip-vnena ernenerrnnnenennanteee vine epee ttt 7. Tangible fixed assets (continued)

The valuation took place in 2023 by Cheffins Auctioneers and Property Valuers. The value comprises:

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|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Schoal|Farm|Land|~ 65|acres|646,809|525,000| |Town|Holt,|West|-|1|acre|Waterbeach|20,000|15,000| |Access|Road|off Cambridge|Road,|Waterbeach|25,0006|25,000| |685,000|565,000|

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&. Fixed asset investments

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||||||| |---|---|---|---|---|---| |Listed| |investments| |E| |Cast|or|valuation| |Al|4|January 2023|3,965,006| |Revatluations|;|262,112| |At3i|December 2623|4,227,118| |Net|book|value| |At|34|December 2023|4,227|118| |Ai 31|December 2022|3, 965,|006| |9,|Material|investments| |2023|2022| |£|£| |CBF|-|Property Fund|274,768|255,241| |CBF|-|Investment|Fund|3,952,350|3,609, 765| |4,227,448|3, 965, B06|

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THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

79. Debtors

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||||||| |---|---|---|---|---|---| |2023|2022| |£|£| |Bue|within|one|year| |Other debtors|4,583|4,583| |Prepayments|and|accrued|income|99|$8| |4,682|4,587|

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14, Creditors: Amounts falling due within one year

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|||||| |---|---|---|---|---| |2023|2022| |£|£| |Accruals and|deferred|income|4,687|4,687|

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12. Sutramary of funds

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||||||| |---|---|---|---|---|---| |Balance|at| |Balance|at|1|34| |January|Gains/|December| |2023|Income|Expenditure|{Losses}|2023| |£|£|£|£|£| |General funds|2,000|138,435|(138,435)|-|2,006| |Endowment funds|4,530,006|.|-|382,112|4,912,118| |4,532,006|138,435|(138,435)|382,112|4,914,118|

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THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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13. Analysis of net assets between funds

	Endowment	Unrestricted	Toial
	funds	funds	funds
	2023	2023	2023
	£	£	£
Tangible fixed assets	685,000	~	685,000
Fixed asset investments	4,227,118	-	42aVis
Current assets	-	6,887	6,687
Creditors due within oneyear	-	(4,687)	(4,687)
Total	4,972,118	2,000	4,814,118

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THE WATERBEACH CHARITY

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 34 DECEMBER 2023

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|||||||| |---|---|---|---|---|---|---| |2023|2023|2022|2022| |Income|£|£|£|£| |Rent|- School|Farm|Land 64a|45,556|75,700| |Rent|- Town|Halt|-|12a|100|106| |Wayleave|-|14 Cambridge|Road|4|7| |CBF|- Property Fund|Dividends|14,664|14,601| |CBF|- Investment Fund|Dividends|108,035|107,440| |Nationwide|Building|Soceity|Interest|-|26| |National|Raif|148|295| |GainsLosses)|on|investments|438,435|137,565| |Revaluation|of|listed|investments|262,112|(450,|475)| |Revaluation|of freehold|property|126,500|-| |382,112|(450,|475)| |Gross income|in the reporting|period|$20,547|(312,840)|

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THE WATERBEACH CHARITY

INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 321 DECEMBER 2023

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|||||||| |---|---|---|---|---|---|---| |2023|2023|2022|2022| |£|é|£|£| |Less:| |Ely|Diocesan|Board|of|Education| |Onening|deferred|grant|2,612|2,692| |Quarter|1|18,582|18,870| |Quarter 2|19,386|18,6170| |Quarter|3|47,100|27,090| |Quarter 4|21,044|17,875| |Closing|deferred|grant|(2,612)|(2,692)| |76,186|76,585| |Waterbeach|Ecclesiastical|Charity| |Opening|deferred|grant|1,123|1,723| |Quarter|1|7,387|6,085| |Quarter 2|§,336|6,085| |Quarter|3|7,350|9,065| |Quarter 4|9,045|7,683| |Closing|deferred|grant|{1,123}|(1,123)| |32,712|32,978| |Waterbeach|United|Charities| |Opening|deferred|grant|848|848| |Quarter|{|6,037|6,705| |Quarter|2|6,290|6,705| |Quarter|3|5,550|6,845| |Quarter 4|6,529|5,802| |Closing|deferred|grant|{848}|(8483)| |24,700|24,857| |Support|costs|4,917|3,205| |Total|expenditure|136,435|:|137,585| |Net|income/(expenditure)|for the|reporting|SEAR|Sanne| |period|382,142|(450,475)| |Net|income/(expenditure)|for the|reporting|period|382,112|(450,475)|

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The notes on pages 9 to 16 form part of these financial statements.

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