REGISTERED COMPANY NUMBER: 02370494 (England and Wales REGISTERED CHARITY NUMBER: 801391 Heads Up Somerset Ltd. (A Company Limited by Guarantee) Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 Webb & Co Ltd Accountants and Business Advisers One New Street Wells
Heads Up Somerset Ltd. Contents of the Financial Statements for the year ended 31 March 2025 Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Page 1 to 6 7 8 9 to 10 11 to 17
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 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 March 2025. 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 a Company Limited by Guarantee, initially incorporated under the name of The Industrial Therapy Centre (North Somerset) Limited on 15 March 1989. The Charity was registered with the Charity Commission on 18 April 1989, Registered Charity Number 801391. The change of name to Heads Up Somerset Limited was registered at Companies House on 8 February 2016. The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The Board of Trustees is responsible for determining the overall policy direction of the charity, for fixing and reviewing its annual budget and for approving annual accounts. The Service Director, Bridget Harvey, is responsible for day-to-day management in accordance with determined policies. The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2025. The financial statements comply with the current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities. Page 1
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT THE MISSION STATEMENT "Our mission is to improve the mental health and wellbeing of adults in the local area by helping them to prevent, cope with or recover from issues that may affect them. We provide a range of services, facilities and opportunities delivered by professionals and peers. Through helping people to help themselves and others, we will work together to ensure that people with a mental health issue are accepting and accepted, so that maintaining positive mental health and wellbeing becomes a way of life." Heads Up was originally set up to provide Day Services to individuals suffering with Mental Health problems, including Dementia. It has established a high quality and widely respected centre for activity based learning and development for individuals with mental health needs, including adults with dementia, learning disabilities and physical disability. It has successfully diversified into providing services at other locations in recent years. Heads Up believes strongly in: * The right of clients to be treated with respect and dignity * The right of clients to expect effective support * The importance of a safe environment where clients and carers can share personal experiences with honesty and * The right of clients to be given opportunities to explore and participate in therapy in a safe and supportive environment * The promotion of positive view on mental health Heads Up sees itself as: * Caring and respecting people's individuality * Promoting people's rights * Enabling and empowering people to take action to enhance their wellbeing * Maintaining people's confidentiality (subject to safeguarding issues) * Valuing the client and their contribution to the service * Non-condemnatory, judging situations, not people * Independent, but complementary to statutory services * Seeking and gaining the respect of professional colleagues * Working consultatively and collaboratively * Open and communicative * Knowledgeable, with practical and creative approaches to problem solving * Recognised as a beacon of excellence in community based mental health and wellbeing practice. Page 2
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT ACHIEVEMENTS AND PERFORMANCE Heads Up has supported an average of 72 clients per week during 2024-2025 providing therapeutic workshops for people who are experiencing both mental ill-health and dementia. Our Community Outreach Service provided 36 visits per week, averaging 89 hours of supporting people in their home and within the local community. Carers continue to be supported with monthly coffee mornings in both Wells and Wedmore and a specific peer support group called Heads Up Connect, where signposting is also offered to help find additional services and facilities. cole marine both yea We have continued to build on our community learning initiatives to increase our reach and support the general wellbeing of our community by providing 26 courses of our Wellbeing & Enablement Project in collaboration with Somerset Council. For the second consecutive year Heads Up has won Gold in the Wells in Bloom competition for our 'Community Garden'. One of the biggest highlights of 2024/2025 has been the recognition received in the Somerset Business Awards 2025, where we were awarded 'Charity of The Year'. We also continue to improve our facilities to help deliver our services effectively. Heads Up provided: * 13 x 2-hour Wellbeing workshops on site, per week, including Woodcraft, Pottery, Gardening, Creative Activities, Cookery and a wellbeing group, for individuals with long term, mental health needs. * 2 × 5-hour Memories workshops per week, for adults with dementia. * Two monthly Carers support groups, providing information and signposting for carers to other services. * One carers peer support 'Heads Up Connect' group, with monthly meetings. * A Client Signposting Service, giving information and links to the local community. * 36 outreach support visits per week * Provided 126 community course sessions as part of our Wellbeing & Enablement Project, connecting 70 unique learners to safe, supportive learning opportunities. * 19 x 'Changes' Peer Support drop in sessions providing 24 people with mental health support. * Heads Up had a total staff of 27 during 2024/2025 - consisting of 1 full time, 13 part-time and 13 bank staff * 38 Volunteers donated 2,711 hours during the 2024-2025 financial year, equivalent to £31,013.84, (based on the National Living Wage during that period of £11.44), compared to the financial equivalent in 2023-2024 of £17,680. Page 3
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT THE VISIONS AND AIMS Our aims are to: • Inform the community of the needs and provision available to support people with mental health needs (including dementia) and help to educate and dispel stigma and discrimination. o Extend our services to meet demand and broaden our provision to meet the further mental health & dementia needs within the community. o Expand on our programme of community learning courses to support the general wellbeing of the local community and offer opportunities for creative and life skill sessions, which encourage social connections, help reduce anxiety and build confidence and resilience. • Increase our staffing levels and offer more employment opportunities. o Increase our volunteering opportunities. o By 2026 to be recognised as a beacon for provision of mental health services and wellbeing support in the community Organisational growth is key to the sustainability and resilience of Heads Up and its goal to meet the demand for services within the community. The charity needs to be of sufficient size to maintain a professional core function that is sufficiently remunerated to attract and retain appropriately qualified and experienced personnel. Our success will be measured by the lowering of the current reliance on expensive intervention and care for those it serves, as well as an increase in not only their wellbeing, but those who care for them. By 2026 we will: • Implement targeted programmes of support to vulnerable young adults 16-25yrs. • Build and maintain strong partnerships with local health and wellbeing providers; and where appropriate develop opportunities that may arise from the signing of the Memorandum of Understanding (MoU) between Somerset Council, Somerset NHS, and the Voluntary sector (VCFSE) which outlines a shared vision and commitment to work more closely together to achieve better health and wellbeing for the people of Somerset). • Continue to develop alternative income streams to strengthen our sustainability and provide further opportunities for support and learning within the community. • Now that the charity owns the freehold of the premises, research ways in which we can invest to make the building more energy efficient and more serviceable to the community. Page 4
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT FUNDING AND STRATEGIC AIMS * Heads Up relies on grant funding and donations to supplement fees from Direct Payments from both Somerset Partnership and Social Services referrals; but continues to develop areas within the charity to build on its diversification of funding streams. * It is recognised for its financial prudence and control of core costs. Heads Up is fortunate in the continued support it has received from local organisations and businesses. * The charity's standing in the local community remains high and receives good publicity from local media. RESERVES POLICY AND RISK MANAGEMENT The Trustees reviewed and agreed a revised Reserves Policy in July 2024. Reserves are solely based on the Unrestricted Funds that the Charity holds. The Trustees have determined that there should be a minimum General Reserve of 25% of the annual budgeted cost to cover running expenses and to cover the maintenance of the freehold property. The General Reserve is equivalent to the Net Current Assets that the Charity holds at any point in time and for the current financial year 2025/26 this is set at £102k and the equivalent for 2024/25 was £90k. The Net Current Assets the Charity held at the year end was £222K (2024-£201K). The Trustees considered that the Charity should maintain a minimum Cash Reserve consisting of Bank Balances and Cash of 150% of expected monthly expenditure amounting to £51k. The Cash Reserve also forms part of the General Reserve. The Cash Reserve at the year end was £203K (2024- £187K). The Trustees regularly review financial risks to the Charity, there are two main risks to the charity firstly that a major financial institution might fail, and the Charity mitigates this risk by splitting the placement of funds between Charity Bank United Trust Bank, Aldermore and Nat West. The second significant risk is that the Charity derives a large portion of its Revenue from contracts with Somerset County Council and the loss of these contracts would significantly affect the Charity, The Trustees seek to mitigate this risk by diversifying income streams in both the public and private social care sectors as well as building and maintaining relationships with public bodies. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02370494 (England and Wales) Registered Charity number 801391 Registered office Upper Breach South Horrington Wells Somerset BA5 3QG Trustees Nendy Attridge (resigned 31/5/2025 John Bouche Vanessa Gordon Carolle Skeates Philip Welch Paul Sealey (appointed 24/7/2024) Company Secretary Georgina Smith Page 5
Heads Up Somerset Ltd. (Registered number: 02370494) Report of the Trustees for the year ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Barry Davidson FCA FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA Approved by order of the board of trustees on 3 September 2025 and signed on its behalf by: Paul Sealey - Trustee Page 6
Independent Examiner's Report to the Trustees of Heads Up Somerset Ltd. Independent examiner's report to the trustees of Heads Up Somerset Ltd. ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 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 member of the Institute of Chartered Accountants in England and Wales, 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: 1. 2. 3. 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 4. 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. Barry Davidson FCA FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA 10 September 2025 Page 7
INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Charitable activity Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Charitable activity Depreciation Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD Heads Up Somerset Ltd. Statement of Financial Activities for the year ended 31 March 2025 Unrestricted funds Notes 75,211 2 3 282,560 22,103 5,452 385,326 8,651 359,172 9,070 376,893 8,433 Restricted funds 16,119 - : 16,119 500 5,129 5,629 10,490 287,418 295,851 675 11,165 The notes form part of these financial statements Page 8 2025 Total funds € 91,330 282,560 22,103 5,452 401,445 9,151 364,301 9,070 382,522 18,923 288,093 307,016 2024 Total funds 69,312 220,991 6,822 6,263 303,388 8,003 302,917 11,378 322,298 (18,910) 307,003 288,093
Heads Up Somerset Ltd. (Registered number: 02370494) Balance Sheet 31 March 2025 Unrestricted funds Restricted funds 2025 Total funds FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand Notes 7 84,219 - 84,219 2024 Total funds 87,350 8 16,812 203,152 219,964 11,165 11,165 27,977 203,152 231,129 24,111 187,451 211,562 CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS (8,332) 211,632 - 11,165 (8,332) 222.797 (10,819) 200,743 TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS 295,851 295,851 11,165 11,165 307,016 307,016 FUNDS 10 Unrestricted funds 295,851 Restricted funds 11,165 TOTAL FUNDS 307,016 288,093 288,093 287,418 675 288.093 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025 The members have not required the company to obtain an audit of its financial statements for the year ended 31 Mard 025 in accordance with Section 476 of the Companies Act 200€ The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company a at the end of each financial year and of its surplus or deficit for each financial year in accordance with thi 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 Page 9 continued...
Heads Up Somerset Ltd. (Registered number: 02370494) Balance Sheet - continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 3 September 2025 and were signed on its behalf by: Paul Sealey - Trustee The notes form part of these financial statements Page 10
Heads Up Somerset Ltd. Notes to the Financial Statements for the year ended 31 March 2025 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. Critical accounting judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Income * income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. * legacy income is recognised when receipt is probable and entitlement is established. * income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. * income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it * expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. * expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. * other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Page 11 continued...
1. Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 ACCOUNTING POLICIES - continued Tangible fixed assets Freehold property Plant and machinery Fixtures and fittings Motor vehicles Computer equipment - Land 0%. Buildings over 50 years. : 10% on cost 10% on cost - 20% on cost - 33.3% on cost 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. Cash at Bank and in hand Cash at bank and in hand includes cash and current and deposit accounts. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount can be measured or reliably estimated. Financial instruments Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised Limited by guarantee Page 12 continued...
1. 2. 3. 4. 5. 6. Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 ACCOUNTING POLICIES - continued Heads Up Somerset Ltd is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. OTHER TRADING ACTIVITIES Trading income INVESTMENT INCOME Deposit account interest NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2025 22,103 2025 5,452 2024 6,822 2024 6,263 2025 9,070 2024 11,378 Depreciation - owned assets TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year endec 31 March 2024. Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was as follows: Engaged on charitable activities Management and administration 2025 12 10 22 2024 11 19 No employees received emoluments in excess of £60,000. Page 13 continued...
Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 7. TANGIBLE FIXED ASSETS At 1 April 2024 Additions Disposals At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 COST At 1 April 2024 Additions Disposals At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Freehold property € 58,284 58.284 566 565 1,131 57.153 57,718 Motor vehicles € 25,195 - 25.195 5,669 5,039 10.708 14.487 19,526 Page 14 Plant and machinery 6,065 (1,462) 4,603 3,576 606 (1,462) 2,720 1,883 2,489 Computer equipment € 16,976 1,811 18,787 14,776 1,704 16,480 2,307 2,200 Fixtures and fittings 7,432 4,128 11,560 2,015 1,156 3,171 8,389 5,417 Totals 113,952 5,939 (1,462) 118,429 26,602 9,070 (1,462) 34,210 84,219 87,350 continued...
8. 9. Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors PAYE debtor Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS Unrestricted funds General fund Designated budget fund Restricted funds HU Connect Wedmore Carers Mark Benevolent Fund Big Give TOTAL FUNDS At 1/4/24 260,904 26.514 287,418 153 522 288.093 Page 15 2025 22,073 1,443 4,461 27,977 2025 2,798 - 894 1,381 3,259 8,332 Net movement in funds (28,868) 37,301 8,433 (59) (82) 4,960 5,671 10,490 18,923 2024 19,671 4,440 24,111 2024 2,336 3,683 785 845 3,170 10,819 At 31/3/25 232,036 63,815 295,851 94 440 4,960 5,671 11,165 307,016 continued...
10. Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated budget fund Restricted funds HU Connect Wedmore Carers ST Cuthberts Parish Mark Benevolent Fund Big Give TOTAL FUNDS Comparatives for movement in funds Incoming resources 325,910 59.416 385,326 204 522 500 8,463 6,430 16,119 401.445 Unrestricted funds General fund Designated budget fund Restricted funds HU Connect Old Deanery Wedmore Carers TOTAL FUNDS At 1/4/23 264,133 41,151 305,284 396 1,323 1,719 307.003 Page 16 Resources expended (354,778) (22,115) (376,893) (263) (604) (500) (3,503) (759) (5,629) (382,522) Net movement in funds (54,083) 36,217 (17,866) (243) (1,323) 522 (1,044) (18,910) Movement in funds € (28,868) 37,301 8,433 (59) (82) 1,960 5,671 10,490 18.923 At 31/3/24 210,050 77,368 287,418 153 522 675 288,093 continued...
10. 11. Heads Up Somerset Ltd. Notes to the Financial Statements - continued for the year ended 31 March 2025 MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated budget fund Restricted funds HU Connect Old Deanery Wedmore Carers TOTAL FUNDS RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Incoming resources 259,863 42.325 302,188 : 1,200 1,200 303,388 Resources expended (313,946) (6,108) (320,054) (243) (1,323) (678) (2,244) (322,298) Movement in funds € (54,083) 36,217 (17,866) (243) (1,323) 522 (1,044) (18,910) Page 17
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