||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|9|
|Report ofthe Independent<br>Auditors||10|to|12|
|Statement ofFinancial Activities|||13||
|Balance Sheet||14|to|15|
|Cash Flow Statement|||16||
|Notes to the Cash Flow Statement|||17||
|Notes to the Financial Statements||18|to|28|
|Detailed Statement<br>ofFinancial|Activities|29|to|31|





## 

## 

## 

## 




## 

## 

## 



## 

## 



## 

## 



## 

## 



## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 




## 

## 

## 

## 

## 



## 



## 



## 

||for|the Year|Ended 31March|2023|||
|---|---|---|---|---|---|---|
||||||31.3.23|31.3.22|
||||Unrcstrictcd|Restricted|Total|Total|
||||fund|funds|funds|funds|
|||Notes|f|||f|
|INCOME AND ENDOWMENTS FROM|||||||
|Donations<br>and legacies||2|535,409||535,409|915,508|
|Charitable<br>activities||5|||||
|Theatre|||696,232||696,232|297,984|
|Other trading activities||3|191,801||191,801|58,481|
|Invcstmcnt<br>income<br>Other income||4<br>6|775<br>41,000||775<br>~41 000|39<br>17,977|
|Total|||1,465,217||1,465,217|1,289,989|
|EXPENDITURE ON|||||||
|Raising funds|||||||
|Raising donations<br>and|legacies|7|1,500||1,500|1,500|
|Other trading activities||8|118,632||118,632|59,084|
||||120,132||120,132|60,584|
|Charitable<br>activities|||||||
|Thcatrc|||1,599,234|103,634|1,702,869|1,329,821|
|Total|||~1,719366|103,634|1,823,001|1,390,405|
|NET INCOME/(EXPENDITURE)|||(254,150)|(103,634)|(357,784)|(100,416)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought<br>forrvard|||576,695|3,480,508|4,057,203|4,157,619|
|TOTAL FUNDS CARRIED IiORWARD|||322,545|3,376,874|3,699,419|4,057,203|





## 

|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
||Notes|fund|funds<br>8|funds<br>f.|fundsf|
|FIXEDASSETS||||||
|Tangible assets|16|261,676|3,376,874|3,638,550|3,737,448|
|Investments|26|10|-|10|10|
|||261,686|3,376,874|3,638,560|3,737,458|
|CURRENT ASSETS||||||
|Stocks|17|7,351||7,351|2,682|
|Debtors|18|292,395||292,395|276,059|
|Cash at bank and in hand||237,898||237,898|452,260|
|||537,644||537,644|731,001|
|CREDITORS||||||
|Amounts<br>falling duc within one year|19|(476,785)||(476,785)|(411,256)|
|NKT CURRENT ASSETS||60,859||60,859|319,745|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||322,545|3,376,874|3,699,419|4,057,203|
|NKT ASSETS||322,545|3,376,874|3,699,419|4 057 203|
|FUNDS|21|||||
|Unrestricted<br>funds||||322,545|576,695|
|Restricted<br>funds||||3,376,874|3,480,508|
|TOTAL FUNDS||||3,699,419|4,057,203|





## 

||31|March 2023||||
|---|---|---|---|---|---|
|||||31.3.23|31.3.22|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
||Notes|||||
|IrIXED ASSETS||||||
|Tangible assets|16|261,676|3,376,874|3,638,550|3,737,448|
|CURRENT ASSETS||||||
|Stocks|17|7,351||7,351|2,682|
|Debtors|18|112,853||112,853|106,374|
|Cash at bank and in hand||237,898||~237898|452,260|
|||358,102||358,102|561,316|
|CREDITORS||||||
|Amounts<br>falling due within onc year|19|(297,233)||(297,233)|(241,561)|
|NET CURRENT ASSETS||60,869||~60 869|319,755|
|TOTAL ASSETS LESSCURRENT||||||
|LIABILITIES||322,545|3,376,874|3,699,419|4,057,203|
|NET ASSETS||322,545|3,376,874|3,699,419|4,057,203|
|EUNDS|21|||||
|Unrestricted<br>funds||||322,545|576,695|
|Restricted<br>funds||||3,376,874|3,480,508|
|TOTAL KUNDS||||3,699,419|4,057,203|





## 

||||To|rch The|atre Company<br>Limited|(The)||
|---|---|---|---|---|---|---|---|
||||||Cash Plow Statement|||
|||||for the|Year Ended 31March|2023||
|||||||31.3.23|31.3.22|
|||||Notes||f|f,|
|Cash flows from operating||activities||||||
|Cash generated<br>from operations||||||(186,214)|90,615|
|Nct cash (used in)/provided||by operating||activities||(186,214)|90,615|
|Cash flows from investing||activities||||||
|Purchase oftangible fixed|assets|||||(28,923)|(16,198)|
|Interest received||||||775|39|
|Net cash used in investing|activities|||||~28,148)|~16,159)|
|Change in cash and cash|equivalents||in|||||
|the reporting<br>period||||||(214,362)|74,456|
|Cash and cash equivalents||at the||||||
|beginning<br>ofthe reporting||period||||452,260|377,804|
|Cash and cash equivalents||at the end|of|||||
|the reporting<br>period||||||237,898|452,260|





## 

## 

## 

|ACTIVITIES|||||||
|---|---|---|---|---|---|---|
||||||31.3.23|31.3.22|
||||||g|g|
|Nct expenditure<br>for the reporting||period (as pcr the Statement|of||||
|Financial Activities)|||||(357,784)|(100,416)|
|Adjustments<br>for:|||||||
|Depreciation<br>charges|||||127,822|137,727|
|Interest received|||||(775)|(39)|
|Increase in stocks|||||(4,669)||
|Increase in debtors|||||(6,479)|(6,957)|
|Increase in creditors|||||55,671|60,300|
|Net cash (used in)/provided|by operations||||(186,214)|90,615|
|ANALYSIS OF CIIANGES|IN NKT FUNDS||||||
||||At|1.4.22|Cash flow|At 31.3.23|
|||||6||6|
|Net cash|||||||
|Cash at bank and in hand|||452,260||214,362|237,898|
||||452,260||214,362|237,898|
|Total|||452,260||214,362|237,898|





## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

||DONATIONS<br>AND LEGACIES|||
|---|---|---|---|
|||31.3.23|31.3.22|
|||I|f.|
||Arts Council ofWales|459,310|452,522|
||Pembrokcshire<br>County Council|10,000|20,000|
||Milford Haven Town Council|7,000|7,000|
||Gifts and donations|16,577|15,503|
||Sponsorship|21,483||
||Covid 19JRS grant||25,615|
||PCC rates relief grant||1,500|
||ACW cultural recovery fund||393,368|
||Chapter Cardiff|6,800||
||ACW - cost ofliving award|~14239||
|||535,409|915,508|
|3.|OTIIER TRADING ACTIVITIES|||
|||31.3.23|31.3.22|
||||f|
||Cafe sales|31,474||
||Bar sales|47,282||
||Kiosk sales|91,439|43,016|
||Merchandise<br>sales|3,399||
||Telephone<br>mast rental|18,207|15,465|
|||191,801|58,481|





## 

||||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|---|---|
||||||||f|E|
|Deposit account interest|||||||775|39|
|Thc charity's|investmcnt||income arises wholly||from interest bearing|cash deposits.|||
|INCOME FROM CHARITABLE ACTIVITIES|||||||||
||||||||31.3.23|31.3.22|
|||||Activity|||||
|Theatre||||Theatre|||412,030|171,041|
|Films||||Theatre|||220,470|91,487|
|Youth theatre<br>Hire oftheatre|and education|||Thcatrc<br>Thcatrc|||12,571<br>15,790|9,557<br>3,202|
|Sales ofprogrammes||etc.||Theatre|||2,400|779|
|Tcchnical hire||||Theatre|||7,445|4,881|
|Setconstruction||||Thcatrc|||13,273|7,117|
|Sundry theatre|income|||Theatre|||12,253|9,920|
||||||||696,232|297,984|



## 

## 

|7.|RAISING|DO|NATIONS<br>AND LEGACIES|||
|---|---|---|---|---|---|
|||||31.3.23|31.3.22|
|||||I,|I|
||Administration||expenses|1,500|1,500|
|g.|OTIIER TRADING ACTIVITIES|||||
|||||31.3.23|31.3.22|
|||||f||
||Purchases|||78,200|26,929|
||Staff costs|||32,488|11,644|
||Equipment|repairs and rcncwals||1,606|15,352|
||Other direct|costs||4,807|3,847|
||Depreciation|||1,531|1,312|
|||||118,632|59,084|





## 

## 

|9.|CHARI|TA|BLE ACTI|VITIES COSTS||||
|---|---|---|---|---|---|---|---|
|||||||Support||
||||||Direct|costs (see||
||||||Costs<br>f.|note 10)<br>f|Totals<br>f|
||Theatre||||1,420,906|281,963|~1,702 869|
|10.|SUPPORT||COSTS|||||
|||||||Governance||
||||||Managcmcnt<br>f|costs<br>f|Totals|
||Thcetre||||272,660|9,303|281,963|
|11.|NKT INCOME/(EXPENDITURE)|||||||
||Nct income/(expcnditurc)|||is stated after charging/(crediting):||||
|||||||31.3.23|31.3.22|
|||||||f|f|
||Auditors'|rcmuncration||||2,700|2,600|
||Auditors'|remuneration||for non audit work||3,123|2,924|
||Depreciation||—owned assets|||127,821|137,726|



## 

## 

## 

## 

|STAFF COSTS||||||
|---|---|---|---|---|---|
|||||31.3.23|31.3.22|
|||||f||
|Wages and salaries||||819,866|632,334|
|Social security costs||||49,090|37,593|
|Other pension costs||||10,447|8,593|
|||||879,403|678,520|
|The average monthly|number ofemployees||during thc year was as follows:|||
|||||31.3.23|31.3.22|
|Theatre and facilitics||||26|19|
|Publicity||||2|2|
|Administration||||5|6|
|||||33|27|
|No cmployecs received emoluments||in cxccss off60,000.||||





## 

## 

## 

||Employee<br>numbers<br>rcfiect the avcragc monthly<br>head count of casual and permane<br>estimated 26 full-time<br>equivalent<br>staff.|Employee<br>numbers<br>rcfiect the avcragc monthly<br>head count of casual and permane<br>estimated 26 full-time<br>equivalent<br>staff.|Employee<br>numbers<br>rcfiect the avcragc monthly<br>head count of casual and permane<br>estimated 26 full-time<br>equivalent<br>staff.|nt<br>staff which|cquatcs to an|
|---|---|---|---|---|---|
|14,|COMPARATIVES FORTIIESTATEMENT Olr F'INANCIAL ACTIVITIES|||||
||||Unrestricted|Restricted|Total|
||||fund|funds|funds|
||||||6|
||INCOME AND ENDOWMENTS FROM|||||
||Donations<br>and legacies||915,508||915,508|
||Charitable<br>activities|||||
||Theatre||297,984||297,984|
||Other trading<br>activities||58,481||58,481|
||Investment<br>income||39||39|
||Other income||17,977||17,977|
||Total||1,289,989||1,289,989|
||EXPENDITURE ON|||||
||Raising funds|||||
||Raising donations<br>and|legacies|1,500||1,500|
||Other trading activities||59,084||59,084|
||||60,584||60,584|
||Charitable<br>activities|||||
||Theatre||1,217,395|112,426|1,329,821|
||Total||~1277,979|112,426|~1,390405|
||NET INCOME/(EXPENDITURE)||12,010|(112,426)|(100,416)|
||RECONCILIATION|OF FUNDS||||
||Total funds brought<br>forward||564,685|3,592,934|4,157,619|
||TOTAL FUNDS CARRIED FORWARD||576,695|3,480,508|4,057,203|





## 

## 

## 

|||Theatre||||
|---|---|---|---|---|---|
|||refurbishment||Fixtures||
||Freehold|(1996-|Theatre|and||
||property<br>I|2000)|redcvclopment|fittings<br>I|Totals|
|COST||||||
|At 1 April 2022|407,808|28,270|4,638,069|1,431,126|6,505,273|
|Additions||||28,923|28,923|
|At 31 March 2023|407,808|28,270|4,638,069|1,460,049|6,534,196|
|DEPRECIATION||||||
|At 1 April 2022|156,050|28,270|1,273,975|1,309,530|2,767,825|
|Charge for year|8,157||92,761|26,903|127,821|
|At 31 March 2023|164,207|28,270|1,366,736|1,336,433|2,895,646|
|NET BOOK VALUE||||||
|At 31March 2023|243,601||3,271,333|123,616|3,638,550|
|At 31 March 2022|251,758||3,364,094|121,596|3,737,448|





## 

## 

||||31.3.23|31.3.22|31.3.23|31.3.22|
|---|---|---|---|---|---|---|
|||||E|||
||||Group|Group|Charity|Charity|
||Other debtors||81,999|65,562|261,541|235,247|
||Prcpaymcnts|and accrued income|30,854|24,139|30,854|24,139|
||VAT|||16,673||16,673|
||||112,853|106,374|292,395|276,059|
|19.|CREDITORS: AMOUNTS FALLING DUK WI'flIIN ONE|||YEAR|||
||||31.3.23|31.3.22|31.3.23|31.3.22|
||||E||f||
||||Group|Group|Charity|Charity|
||VAT||17,725||17,725||
||Advance receipts||116,678|72,352|116,678|72,352|
||Deferred income||3377|1,673|3 377|1,673|
||Sundry creditors and accruals||159,453|167,536|339,005|337,231|
||||297,233|241,561|476,785|411,256|



## 

|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||||f,|f|
||Within onc year||||5,271|
|21.|MOVEMKNT|IN FUNDS||||
|||||Net||
|||||movement|At|
||||At 1.4.22|in funds|31.3.23|
||||E||E|
||Unrestricted<br>funds|||||
||Gcncral fund||576,695|(254,150)|322,545|
||Restricted funds|||||
||Restricted<br>funds||3,480,508|(103,634)|3,376,874|
||TOTALFUNDS||4,057,203|~357,784)|3,699,419|





## 

## 

|Net movement<br>in funds, included|Net movement<br>in funds, included|Net movement<br>in funds, included|in the above|arc as follows:|||
|---|---|---|---|---|---|---|
|||||Incoming|Rcsowccs|Movcmcnt|
|||||resources|expended|in funds|
||||||E|E|
|Unrestricted<br>funds|||||||
|General fund||||1,465,217|(1,719,366)|(254,149)|
|Restricted funds|||||||
|Rcstrictcd funds|||||(103,635)|(103,635)|
|TOTALFUNDS||||1,465,217|1,823,001|357,784|
|Comparativcs<br>for movement||in|funds||||
||||||Net||
||||||movement|At|
|||||At 1.4.21|in funds|31.3.22|
|||||f.|E|E|
|Unrestricted<br>funds|||||||
|Gcncral fund||||564,685|12,010|576,695|
|Restricted funds|||||||
|Restricted<br>funds||||3,592,934|(112,426)|3,480,508|
|TOTAL FUNDS||||4,157,619|~100,416)|4,057,203|
|Comparative<br>net movement|in|funds, included||in thc above arc as follows:|||
|||||Incoming|Resources|Movcmcnt|
|||||resources|expended|in funds|
|||||E|E||
|Unrestricted<br>funds|||||||
|General fund||||1,289,989|(1,277,979)|12,010|
|Restricted<br>funds|||||||
|Restricted<br>funds|||||(112,426)|(112,426)|
|TOTALFUNDS||||1,289,989|~1390405)|~100416|





## 

## 

## 

||||Nct||
|---|---|---|---|---|
||||movement|At|
|||At 1.4.21|in funds|31.3.23|
|||||6|
|Unrestricted|funds||||
|General fund||564,685|(242,140)|322,545|
|Rcstrictcd funds|||||
|Restricted<br>funds||3,592,934|(216,060)|3,376,874|
|TOTAL FUNDS||4,157,619|~458,200|3,699,419|



||Incoming|Rcsourccs|Movcmcnt|
|---|---|---|---|
||resources|expended|in funds|
|||6|8|
|Unrestricted<br>funds||||
|General fund|2,755,206|(2,997,345)|(242,139)|
|Restricted funds||||
|Restricted<br>funds||(216,061)|(216,061)|
|TOTALFUNDS|2,755,206|~3,213,406)|458,200|



## 

## 

## 

## 



## 

## 

## 

||||Balance|||
|---|---|---|---|---|---|
||||as at|Movcmcnt|Balance as|
||||01.04.22|in Year|at 31.03.23|
||||6|||
|Capital|Reserve (Main|Theatre)|93,589|(3,757)|89,832|
|Capital|Rc-dcvelopmcnt|Fund|3,333,044|(98,377)|3,234,667|
|Capital|Reserve (Studio|Thcatrc)|53,875|(1,500)|52,375|
||||3,480,508|~363.634|3,376,474|



## 

## 

## 



## 

## 

## 

|SUBSIDIARY UNDERTAKINGS|||||||||
|---|---|---|---|---|---|---|---|---|
|Thc Charity holds the entire issued|share capital of 10|||Ordinary|shares offl each in|Torch Thcatrc|Production||
|Company<br>limited,<br>a company<br>incorporated||in England||and Wales, Company<br>number||09287683.|The Charity||
|acquired<br>the Trading<br>subsidiary<br>on|30th October 2014.|||Thc Torch Theatre Production||Company<br>undertakes||the|
|commercial<br>production oftheatrical|performances.||A summary||ofthc trading results arc shown below.||||
|Summary<br>profit and loss account:|||||Year Ended|Year Ended|||
||||||31.3.23|31.3.22|||
||||||6|f|||
|Income|||||179,545|169,685|||
|Cost ofsales|||||~220,542)|~187,661)|||
|Profit or (Loss) on ordinary<br>activities bcforc||taxation|||(40,997)|(17,976)|||
|Tax credit|||||40,997|17,976|||
|Profit for thc financial period|||||||||
|The assets and liabilities ofthe subsidiary||werc:|||||||
|Current assets|||||220,552|187,671|||
|Creditors|||||~220,542 )|~187,661)|||
|Aggregate<br>share capital and reserves|||||10|10|||





## 

||for the Year Ended|31March 2023||
|---|---|---|---|
|||31.3.23|31.3.22|
|INCOME AND ENDOWMENTS||||
|Donations<br>and legacies||||
|Arts Council ofWales||459,310|452,522|
|Pembrokcshirc<br>County Council||10,000|20,000|
|Milford Haven Town|Council|7,000|7,000|
|Gifts snd donations||16,577|15,503|
|Sponsorship||21,483||
|Covid 19JRS grant|||25,615|
|PCC rates relief grant|||1,500|
|ACW cultural rccovcry fund|||393,368|
|Chapter Cardiff||6,800||
|ACW - cost ofliving|award|14,239||
|||535,409|915,508|
|Other trading activities||||
|Cafe sales||31,474||
|Bar sales||47,282||
|Kiosk sales||91,439|43,016|
|Merchandise<br>sales||3,399||
|Telephone mast rental||18,207|15,465|
|||191,801|58,481|
|Investment<br>income||||
|Deposit account intcrcst||775|39|
|Charitable<br>activities||||
|Theatre||412,030|171,041|
|Films||220,470|91,487|
|Youth theatre and education||12,571|9,557|
|Hire oftheatre||15,790|3,202|
|Sales ofprogrammcs|ctc.|2,400|779|
|Technical hire||7,445|4,881|
|Sctconstruction||13,273|7,117|
|Sundry theatre income||12,253|9,920|
|||696,232|297,984|
|Other income||||
|Theatre Tsx Credit||41,000|17,977|
|Total incoming<br>resources||1,465,217|1,289,989|
|EXPENDITURE||||
|Raising donations<br>and legacies||||
|Administration<br>expenses||1,500|1,500|





## 

|||||for the Year Ended 31M|arch 2023||
|---|---|---|---|---|---|---|
||||||31.3.23|31.3.22|
|Raising donations|and|legacies|||||
|Other trading<br>activities|||||||
|Cafe purchases|||||12,010||
|Bar purchases|||||25,755||
|Shop purchases|||||40,435|26,929|
|Wages|||||29,363|10,896|
|Social security|||||3,125|748|
|Equipment<br>repairs|and|renewals|||1,606|15,352|
|Other direct costs|||||4,807|3,847|
|Fixtures and fittings|||||1,531|1,312|
||||||118,632|59,084|
|Charitable<br>activities|||||||
|Theatre salaries and fccs|||||574,742|421,049|
|Employers<br>national<br>insurance|||||28,435|21,640|
|Employer pension|contributions||||10,447|8,593|
|Rates and water|||||5,602|6,150|
|Insurance|||||47,688|27,718|
|Light and heat|||||45,630|44,358|
|Theatre renewals|||||22,947|45,082|
|Youth theatre and|education||||8,963|8,097|
|Bought in productions||and artists fees|||160,591|59,763|
|Printing<br>and promotion||ofprogrammes||and|||
|publicity|||||106,790|94,302|
|Direct production|costs||||12,227|30,593|
|Royalties<br>and commissions|||||23,944|13,458|
|Travelling|||||33,781|26,909|
|Sundry expenses|||||3,564|3,077|
|Film hire and carriage|||||104,984|54,730|
|Laundry<br>and cleaning|||||15,415|10,525|
|Memberships<br>and|liccnces||||26,640|23,723|
|Workshop cxpcnscs|||||12,425|7,686|
|Motor expenses|||||12,740|10,464|
|Boxoffice tickets|and charts||||26,212|1,252|
|Credit card charges|||||10,848|6,877|
|Depreciation<br>- I'toehold|||||8,157|8,157|
|Depreciation<br>- redevelopment|||||92,762|92,762|
|Depreciation<br>- fixtures||and fittings|||25,372|35,496|
||||||1,420,906|1,062,461|
|Support costs|||||||
|Management|||||||
|Administration<br>and publicity|||salaries||212,281|196,987|
|Social security|||||17,530|15,205|
|Telephone|||||9,217|8,641|
|Postage|||||467|1,364|
|Office stationery|and|ITcosts|||6,824|10,065|
|Recruitmcnt<br>and|training||||8,166|17,721|
|Professional<br>fees|||||13,322|7,231|
|Carried forward|||||267,807|257,214|





## 

|||Torch Theatre Company<br>Limited(The)|||
|---|---|---|---|---|
|||Detailed Statement ofFinancial Activities|||
|||for the Year Ended 31March 2023|||
||||31.3.23|31.3.22|
|||||f|
|Management|||||
|Brought forward|||267,807|257,214|
|Entertainment|||2,490||
|Bank charges|||2,363|1,220|
||||272,660|258,434|
|Governance|costs||||
|Admin salaries|||3,480|3,402|
|Auditors'<br>remuneration|||2,700|2,600|
|Auditors'<br>rcmuncration||for non audit work|3,123|2,924|
||||9,303|8,926|
|Total resources|expended||1,823,001|~1390,405|
|Net expenditure|||~357,784)|~100,416)|





||||I-|ID|NSo<br>Ia o r|NSo<br>Ia o r|NSo<br>Ia o r|||58'<br>Im||||m||||r||||0'|0'|N|N|0|O<br>C<br>0r|0<br>r|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||NNON|Cl<br>0||||||||||||||||||||||||||||
|||m|||||||||||||||||||||||||||||
|||m|||||||||||||||||||||||||||||
|||||||||||||||0|||||||||||||||||
|||||||I||||0||||m<br>'0||m||0||om||ar||||0|||||
||||||Nm|8 <br>N|8|o|Q<br>N|$8<br>m<br> 0||||||||r <br>Xo||»NO<br>k8<br>0<br>0|||r||||||0<br>0<br>cn||
|5<br>:Eg<br>3i-||||'0|C|8 <br>O|8|In<br>0|||0 N|m|rO'|O||||op<br>Ba.||l|o am<br> 88$|||||I||||'8<br>2|
|E|||||||||||||||||||||||||||||||
|0|0)|||||||||||||||||||||||||||||9|
|||||||||||||||||||||||||||||||'2 8<br>K8<br>8|
|-8»<br>Cl 3."gs<br>I||||||||||||||||||||||||||||||80|
|||IVO|CI00||||||||||||||||||||||||||||
|||alO|||||||||||||||||||||||||||||
|||al|||||||||||||||||||||||||||||
||||||O <br>m0|o<br> O|O|||C|o g<br>D|m|Ql<br>0 ma||8o<br>W||0<br>cn||||||m|||m|||||
||||||C|SSN<br> d||||I|Sm||QI|a <br>0|I<br> 0|r|la<br>0|mr<br>r N|I||Inpour||m <br>I||m<br>m<br>I||||mD||






|||||g|0|||e<br>CNRNCNmX<br>'08|e<br>CNRNCNmX<br>'08|e<br>CNRNCNmX<br>'08|e<br>CNRNCNmX<br>'08|e<br>CNRNCNmX<br>'08||0|o<br>$CoCo|o<br>$CoCo|o<br>$CoCo|o<br>$CoCo|o<br>$CoCo|o<br>$CoCo|I 0<br>X||IX|m||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||||||||||0|
||||NN<br>ICo|||||||||||||||||||||||
||||Clo|||||||||||||||||||||||
|||||||||I e<br>CNI <br>eo||IC|m m <br>e|I<br>m||NN|||Nt'0||0|I||||||
|||||||||e<br>q<br>CNII|||N|I||||||||||||||
||||||||||||||||||||0||||||C|
||5|||||C|el|m<br> cm||e|e<br>e|I<br>e,|I|||||||||||||
||||||||||||||CC|||||||||||||
|||||I-|0.|||||||||||||||||||||
||0|||||||||||||||||||||||||
|||||||||||||||||||||||||C|0|
|CI|3|||||||||||||||||||||||||
|I-|=|||||||||||||||||||||||||
|||y|CI<br>IC|Cl<br>0||||||||||||||||||||||
||||Clo|||||||||||||||||||||||
||||Cl|80||||0|||e|I|0|Nc <br>I|cN@|Q|I Q IL'8<br>'CC<br>I||$ R||||Neo|j|0|
||||||||OI|e<br>0'|I|e|c<br>8|Io||||||||||o|QN+e||0C|





||||||||||||||||||||4||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||||m||
|||||||||||||||||||||Ot|
||||||||||||||||||||LO||
||||g V||||||||||||||||||
|||IO<br>IOO|||||||||||||||||0||
|||OO|||||||||||||||||||
|||Dl|||||||||||||||||||
|||CI|||||||||||||||||||
|||Dl|||||||||||||||||||
|||||||||||||||||||||0|
||||||||ro||or||||||||||||
||||'a|w|||||||||||||||||
||||||r<br>w<br>@~X.~<br>O||||N<br>Ol<br>0 r||O<br>Ig||||O <br>0|0<br> 0||||C|
|||||D|@or <br>0|||owigmg<br>Ew<br>0<br>OO<br>I<br>I|||||||O||0|m0|||
||||g|a|||||||||||||||||
|'|00e|||||||||||||||||||Cm|
|g|'E g||||||||||||||||||||
|0|0 C||||||||||||||||||D||
|4I|E||||||||||||||||||CI|4OI|
|||O<br>IO|4I00||||||||||||||||||
|||O|||||||||||||||||||
|||wm|||0 <br>W<br>Mr||r<br>0'|r|0<br>w<br>0<br>ww'mM||||o<br>0|0|O<br>O<br>R-.%<br>e mm||||0||
|||||||||||||||r|||||||
||||a|Ol|||||||||||||||||
||||V||||||||||||||||||
||||00||wm<br>I||I<br>0|COD<br>D||0|+|I <br>W|O<br> r<br>o<br>I|||||m<br>O||CN|
|||||||||||||||||SE||||E|
||||||||||||||||P8|||||K<br>5|
||||||||||||||||4j<br>0 0|||||E<br>8|
||||||||||||||||||E||||