REGISTERED COMPANY.NUMBER: 02355403 (England and Wale5)
REGISTERED CHARITY NUMBER:
Report of the Trustees and
UiiMuditL'd FinfinL'i#I Statemenls for Ihe YeAr Lnded 31 MYdr¢h 202S
for
International Academic Projcets Limited
{A Company Limited by Guarantee)
Guy Walmsley Limited
3 Grove Road
Wrexham
LLII IDY

International Academlc Projects Limited
Contents of the Financial Statements
for the Year Ended 31 March 2025
PAge
Report of the Truslees
Independent Examiner's Report
Statement Inaneial Actlvltles
Balance Sheet
ote$ to the Flnancl#l Stat¢mentS
6 to 10
Detallcd Stalcment of Financial ActlvltlL>S

International Academic Projects Limited
Report of the Trustees
for the Year Ended 31 March 2025
The trustees who aTe also directors of Ihe charity for the purposes of the Companies Act 2006, present their report with
Ihe finanLldl .%t£ltements of Ihc ch￿1(Y f()r the yeai. endLd 31 Mdrch 2025. The IrLl¥tcc% hiive adopted the provisions of
ALL()UT]liiigJ and Reporting hy Cliarities.. Statement of Recommended PraLtice applicable lo charitlL% PTL"pai-ing their
aLL()unts in acLordancc with the FinanLial Reporting Standard dppIiLÉiblL ITI the UK and RcpubliL ()f Ireland (FRS 102}
(elTeLliv¢ l January 2019).
OB.1 P.CI'IVES AND AC.'I'IVII'IES
ObjeLtivL% aims
'I'hL object.s of the Loinp(Iny are the continuing eLIuciilion and training ot pcrsons in the conservalion lind
I'e%l()rdlion ol-work4 ot.arl tliroughoiit lh¢ wurld by Ihe provisiun of tr¢iiningy courses, conAerLncc% and
I'el¢viiiil lilLfiilui'e.
ActivitiL'S
'I'he Lllliipaily conlinued ti) l)e very aclive (SLC bLlow). The main chdng¥ wa8 the absence of upLn vour%es
in 4ilii lind the subseqLILnl iiiLI-e<i%e in virtual COUTSL'% and virtual semin<if5.
l . Cheini%lry foi. C'onsL'i'valor.% - this four nionlh LOTrespondence cour5c agpain had 3 intake8
<ll)(I i-einaiiis popular (Il)e number of sludenls in cEtLh intake is qhown in bi'ackel%)'. I st Seplcillher
71124 {35) dnd I st Jdnuary 2025 (35), I sl MarLlI 2025 (35}, (105 peisons in lol(Il).
7 I)i)Ln %horl virlutil Lour%L4 (() hour% in 2 3-hour spread over 2 c()nseculive ddyS)
werc ()ffLie(l onlinL' (subj¥cl4.' IPM; 11) ot. Insecl l)¢81%' Ha/ards in (:ollecli<)n%)) and 2 private
l)oi'l Lour8Ls f()I' ICRI (Irisli Con$erval()rs) - on¢ ()n l>igFinLnls Ilie oihLr on Polyiiiers
3. 16 ()ne hour %eininar.% L()ur.%es look place ()nlinL in %ubjLLl% includinb... Sionc, Pigmenls, 3D
l)riiiiiii¥. li'()n and Sieel. Coii8¢rvali()11 Cleanin&', Display ()t' I li%t(Jric Dr¢%%, Chiiicsc Melallurb'y
(Ind Adhesivcs lind Consulidtinls.
4. '1'he l()I'malion lif IAP C%Piigiiol in June 2024 orgT4iniscd with Ana W()rlley in Buenos Aircs
ullci-in&Tr one hour virlual 5ciiiinArs in Spani811. One Seminar pcr m()nlh occurred from Junv lo
Dcc'eiiibei.
5. We providLd d 3 day Ll()%ed in-%ilu Irainingy course in OLlober in 8ingFaporc on Hydrogcls
loi. (.'oii%Lrvalion ('ILcinin&F li)r ihe con8ervalii)n deparlinenl iTrf I lerilage Sin&F(IPOI'C ci)ndiiLled by
M4iiihLw ('u8hma
IIINANCIAI, RLVIF.W
'rinL'ipal fundiiikb s(JurLI'5
'riiL lildlli inti0111L slreaiii 1% froin p￿rI1¢1paI]ts, fcc%, or from or&Fani,salions who have aqkcd li.8 t() run a
i)ui'liLuliif L()Lir%e loi. Ilieii. ciiiployees. On occasion byraiit8 by grani fiindin&y bodie,8 or in8lltulion% are &yiven
lor 4uppI)rl ()l-a piibliciiiioii ora book.
I nvcstmeiit poliLy llnd objectlves
'riiL inve,slnienl slraleg'y was disciissed, and rc.scrves were placcd into an interesl-bcaringp account.
RL'serV￿ p¢)IiLy
lill) tlie reserve.s and balaiice slieel in goiid order, we have been able to set up IAP espagnol knowing
IIIMI we will need lo .sub%idise it initially we wdnted to muke inforniation readily uvailable for Spanish
speakers in Latin America and Europc.
We hope to contiiiue to use the rescrvey to support di%ddvantaged conscrvatorslwould be conscrvul()rs
where we SCL IhLre 15 a neL.d.lilerature.
FUTURE PLANS
In 202512C), IAP expecls t() cnntinue to oifLr thL Chemistry for Conservators Lorre8pondence coiirse with
3 intdkc8 pei- anniiiii and virtUc11 courses and virtual seminars in the UK and dhroad. We do not CXPLCI to
run in-situ cour.%es in thL UK except closed Lourges tor pJrti¢ular organisalion%.
Pag¢ I

International Academic Projects Llmited
Report of the Trustees
for the Year Ended 31 March 2025
.%'I'RUCTURE, GOVERNANCE AND MANAGEMENT
( pON'L'I'niiig document
'I'lIL' Inleri)aliondl Academic Pi'ojects Limited is a company limited by giiarantee incorporated 6th March 1989 in
F.Iigland diid Wales as defined by the Compdnies Act 2006 and is governed by its ML'morandum and Articles of
As%oLialion. 111% I'e¥i8lered Charity with the Lharity Commi%qion (F.ngldnd & Wale8). number 802538.
Dii"eLlur% / ii-Lislees
M%. Boyd White. Mi.. Dimoldenberg and Mr. Black have di%LU%%Ld the obligdtion% of directors under charity and
L()Iiipany law. tli¢ MLinor<induin ol- A.%.sociation, and Ihc rL'vLnl and future activities of the coinpany
C.orporale (iOV¢'rnance
'riie Iwo dirLLliii's ucl IhL' g()vcrning body. miiinlainingF conirul vvLr the company and Monitoring￿ ils man<i¥emL'nt,
hdvinbJ Ihc uliiinale respoii%ibilily t.or the tindncilil %labilily of the Lvinpany. The company %eLrelary is responsible lu the
Lloill'd fi)r ensuring Ihilt Ll()ard procedurc4 (Ire f()Ilowed.
Risk managyement
Tlic L4oard has reviewcd L￿d idenlified Ilic risks to which Il)c ()Tgyanisation mighl bc cxpused and has takcn
th¢ requisile %lcp.% for miligaling Ihcin
R Tr.b'b.RENC& AND ADMINISTRA'I'IVE DE'I'AILS
RckFlYtL'red Comp4ny number
023554113 {b.nglaiid and Waleg)
IIL'LJisIL'rcd Ch￿rItY nuinbcr
RLkWl%tI'red orrJcL
3 CJl-Iivi IloaLI
Wi'exli<iin
LLII IDY
ru%lc'es
Mi. l) I I l)im<)IdcnbLr
Mi. I Carlwi'ibylil (i'e%igyned 1.6.24)
l) G L 11 Whylc (appoinlLd 1.6.24)
Company Secretgry
MI'J 141ack
Independent ￿.x￿M1Ner
Qiily Wiilmsley LiinilLd
3 Gri)ve Road
Wi'exhain
LLI I 11)Y
'I'liis I'eporl lia.% been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
i() 41111111 coiiipanies.
ApprovLd hy order ofthe bo<ird ol. Iriistee% on .
g...... and signed on 115 behalf by:
Mr P H Diinoldcnbcrg - Trustee
Page 2

Independent Examiner's Report to the Trustees ot
International Academic Project5 Limited
Independent examiner's report to the trustees of International Aeademlc Projects Limited ('the Company,)
I rL'port to the Lharily ti'u8lees on iny examination of the accouiits of tlie Coinpany foi. the yeai. ended 31 Mai-cl) 2025.
Responslbilities and basls of report
As the charity's ti'ustees of the Comp}￿Y (and also ils directors for the puwoses of company law) you are responsible for
the prep&iration of the accounts in accordance with the requirefftnents of the Companies Act 2006 ('the 2006 Act,).
14<tving satisfie(I my.self that the accoiints of the Company are not required to be audited under Part 16 of the 2006 Act
nd are eligible for indepeiidenl examination, I report in respect of my examination of your charity's accounts as carried
OLII under Section 145 of the Charities Act 2011 ('the 201 l Act,). In carrying out my examination I have followed the
Directions given by the Charity Commission undLr SLLtion 145(5) (b) of the 201 l Acl.
Independent examlner's statement
I h£tve LoiMplLled Iny examindllon. I confinn that no rnallers have come to my altenlioii in connection wilh the
exaiiiinalion &Jiving In¢ oau5e lo believe:
accounting records wer¢ nul kepl in respect of the Company as required by Se¢lion 386 of the 2006 Act: or
Ihc aLL()unls do nol dLLord wilh Ihosc itLord%- or
IIIL. (ILLounl% do nol coimply with Ihc ac¢ounlingJ requir¢inent% ()f Section 396 ot. the 2006 Act oiher than any
i-eLllllI'¢in¢'nl Ili¢tl Ilie aiL()Iinl% &pivc a truc (Ind fnir vieiv which is nol a IMall¢r L()nsidered u% part of (iii indepcndLnl
¢Xiiininati()n: oi.
11)L <iLC()unl.% liavc not bcLn prei)(Ired in d¢cord&inLe with the mclhods and principles of Ihe 8ialLmenl ()f
IILL()iiiinLn(led Pi<iLiice tul. clLLOLinlingi and rLpoi'ling by Lhurilie8 (appliLable lo Lharilie.s prcpdring iheir ¢lLcounls
iii acc(Ird(IllLe with the Financial Reporlingy 8iandiird appliLable iii IhL' IJK lind RLpubliL of Ireland (FR8 102)).
I li(Ive no concLrns ¢lnd have c()Ine acroqs no other njallcrs in connection with Ihc cxainination t() which altenlion should
l)c drawii iii Ihis rLpi)rl in (>rder lo eniible a propcr underslandin&y of the accounls lo bc rL'aLhed.
Nibicl Wynne
CJUY Walinslcy Liniiled
l (.ir()ve Road
Wi'cxhtiin
LLI I IDY
Dcile:
Page 3

International Academic Projects Limited
Statement of Finincial Activities
ror the Year Ended 31 Mareh 2025
31.3.25
Total
funds
31.3.24
Total
fui)ds
Unrestricted
fLmd
Restricted
fund
Notes
INCOME AND EIYDOWMENTS FROM
Charitable activities
Colirses
176,978
176,978
194,749
Inve%tinL'nl incoille
3,166
3,166
2,130
Total
180,144
180,144
196,879
EXP&;NDII'URE ON
Charitable activitles
C(iur%¢¥
158,596
158,596
174,390
NET INCOME
21,548
21.548
22,489
RF.C'ONCILIATION Ob FUNDS
'I'ulal funds hi'oughl f()nvai'd
205,422
205,422
182.933
'I'O'I'AI. FUND% CARRIED FORWARD
226,970
226,970
205,422
Tlie notes forn] part of tliese financial slalemenls
Page 4

Internation21 Academic Projects Limited
Balance Sheet
31 March 2025
31.3.25
Total
funds
31.3.24
Tolal
Unrestricted
fund
Restricted
fund
Notes
CURRENT ASSETS
Debtors
C<ish al bank
3,348
265,859
3,3414
265,859
10.120
217,619
269,207
269,207
227.739
C. R Tr:DITORS
Ain()ui)Is Idllins due within one ycar
(42,237)
(42,237)
(22,317)
NET CURRELYI, ASSETS
226.970
226.970
205,422
TOTAL ASSFT8 LFS.S CURRLN'I,
.IABILI'I'ITr:S
226,970
226,970
205,422
NLT ASSTr:'I"S
226,970
226,970
205.422
Uiii'L%lriLILd funds
226,970
205,422
'()-I'AI, b UNI)Si
226,970
205.422
'I'IIL Lllai'il￿blc Lompany is enlitled lo exempli<)n Ironi audit under Section 477 of thL Companies Acl 21106 for thc year
ciided 31 March 21125.
'ri)c InLiiib¢r% have not required Ihc company lo ()biain an aiidil. of ils financial slatcmcnts for thL year inded
31 March 2025 in LiccordancL wilh 8eLtion 476 01. Ihe CoinpiiniL'.8 ALI 2006.
'I'he Iruslee4 acknowledge their rc%ponsibilities lor
(a)
en8uring Ilial Ihe Ll)aritablc ci)mpany keeps aLcounling rLcords that comply with Sections 38() and 387 01. Ilie
Companics Acl 2006 and
preparing financial sialcinenls which givc a true and fuir view OL. the %lale of affair8 of IhL' cliaritable company as
al ilie end ()[ each finanLial year and {)[ its siirplu% ()r delicil lur LdLh financial ycar in accordance wilh tli¢
I'LqLiiremcnls ol. SeLlion8 394 and 395 and whiLh olhL'fwi.SL Lomply with Ihc r¢quireinenls ol. Ihe C()Inpanies Act
2006 1¢1(tling lo finanLial slatements. so lar db 2ppliLablc to lh¢ charitablc company.
(b)
'I'IIL%e financi<11 .slalemenls liavc been prepared in accordancc with the provisions applicable to charitable coiiipanies
siibjeLI Iii Ihe .%lli<ill Lompanies regimc.
Tlie
ii)L'iil4 were approved by the 13oard of Trustees and iiulhorised for issue
and were signed on ils belialf by:
on
Mr P I l Dinioldunb¢rg - Trustee
The notes fomi parl of Iliese financial slateRnent5
Page 5

International Academie Projects Limited
Notes to the Financi￿1 Statements
for the Year Ended 31 March 2025
ACCOUNI'INC POLICIES
Bxsis ot preparing tlie financial statements
The financial slalements of tlie charitable company, which is a public benefit entity under FRS 102, have been
prepai'ed in accordanctt with the Charities SORP (FRS 102) 'Accounting and Reporllng by Charities: Si<ilement
of ReL'ommended Practice applicable to charities pr¢paring their accounts in accordance with the Financial
Repoi'ting Standard applicable in the UK and Republic of ITeland (FRS 102) (effective l January 2019),,
FinanciLI1 Reporting Siandard 102 'The Finaneiiil Reporting Standard applicablL in the UK and Repiiblic of
Ii'eland, ancl the CoinpaniL's Act 2006. The financial slatL'menls have bL'en prepared under the hislorical cost
convention.
The IrLi%lee8 Consider Ihal there are no material uncertainties about the charity ability lo continue as a going
Loncci-n.
The financic11 glaleinenls are for the individu(Il enliiy only.
Th¢ Lon)pany's funLlional and prcseniational ¢urrLncy is pound sterling, roundcd lo the nearest pound.
IIiLomi'
All inci)Ine 1% recognibed in the SidlLrnenl of Fin<illLial ALlivilies (InLc Ihe uhai'ily h(1% enlitleinenl to the funds, tl
is pi'obablL' Ilial IhL incoinc will bL received, and the atni)unl can be mL(Isured rLliably.
'I'uniovLI' 1% ainounl derived from pr()vision Dl. gu()ds and serviLe8 Sluled after tr<ide disLOUllts and ()thcr Sales
'LC8 rcL'eivLd in I'c.%pec( ol'c()ursc8 run are recognised ai the dale 41 whiLh Ihc cuurse providvd.
E¥pLnditurL
Li(IbililiL'& al'e rccogvni%cd as L'xpendilure a% Soon as Iherc is a Icgyal L)r conslruLlive Dbligyalion Loininiiiingy IhL
Llillrily lo Ilial Lxpendiliire, il 1% pr(Trb¢ible Ilial a Irun.4ler ul. economic bLnefil8 will be re<iuired in %L'iileinLnl dnd
IIIL dinounl ()r IhL obligy<ilion can be InLasurLd reliably. I',xpLndilurc i.s aLLuunled lor on an dLLriials basis and has
been Lla48ifiLd under headings Ihal agLyregalL' all Lo81 relalLd io Ihe cate&F(Iry. Whcre LO81.4 cannol be dircLIIy
Illribiilcd to Pdrliciilcir hcadingls, they have been alloLdled to aclivilies on a basi8 con.sislcnt with Ihe USL of
i-csourLC8.
'aii&yiblL fixL'd as¥L*t%
DLprcLiaiioi) 1% provided ai Illi following annuul rale.$ in ordcr lo wrile off each a%%el over ils eslimated uselul
I, ixliire8 and fillings
2.50/0 on reducing balance
Taxution
'I'li¢ cliarity is ex¢mpt froiii corporation tax on its charitabl¢ activities.
Fund aic(bunlinL
Uni'L'sti-i¢t¢d ILlI)ds can be used in a¢cordan¢e with the charitable objectives al the discretion of the trustees.
Restricted funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions
ai-ise when specified by tlie donor or when funds are raised for particular restricted purposes.
Further explanation of tlie nature and purpose of ¢arh ￿lld is included in the notes lo tlie financial stat¢nients.
Foreign curren¢ic5
Asscls and liabililies in foreign currencies are translated into sterling at the rates of eKchang¢ ruliiig at Ilie
balance slieet date. Transactions in foreign currencies are translated into sterling al the rale of ¢xchange ￿li1]g al
the dale of transaction. Exchange differences are taken into account in arriving at tlie operating result.
Page 6
continued...

Internatlonal Academlc Projects Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
ACCOUNTING POLICIES- continued
Financial instruments
Ti-ade debtors and trade creditors are measured at the undiscounled amount of cash or other Lonsideralion
expeeled lo be paid or received.
Financidl cissets al'e assessed at the end of each reporting period for evidence of impainnent. If evidence of
impairment is found and impaiirnent loss is recognised in the Staternent of financial activities.
INVESTMENT IIYCOME
31.3.25
31.3.24
Deposit accounl iniei'est
3.1()()
2.130
NET INCOMF,I(EXPENDITURF)
Nel income/(¢xpenditui'e) is slated after charging/{Lrediling}
31.3.20
Indep¢ndLnl examincrb fLLs
1,020
1.112U
'I'IIuSTTr:￿'s, RFMUIYF.RA'I'II)N AND BEIYFTrITS
'lie Iru%lL'LS all give frecly their lin)e und Lxperti%e withi)ul any fonn of remiincration or oihL'r benetii in ca8h or
kind (2024.. nil}.
'I'rustL'e¥' Lxpen%Ls
'I'lici'L wL'I'e ni) li-u.slLCS' expcn%Ls paid fur thL year L'nded 31 March 2025 nor for Ihc ycllr ended 31 Mai'cli 2024.
COMI'ARATIVFS Tr'OR TIIL,STAI'LMENT OTr. FIIYALYCIAI, AC'fivi'i'iES
Unrc81ricted
Reslriclcd
rund
Total
INCOMF. AIYD F,IYDOWMENTS TrROM
ChAritublL' uctlvitics
cour.ses
194.749
194.749
Inve.slnient incoine
2,130
2,130
'rotal
196.879
196,879
EXPENDITURE ON
Charitable activities
Coiirses
174,390
174.390
NET IIYCOME
22,489
22,489
RECOIYCILIATION OF FUIYDS
Total fiinds brought torward
182,933
182,933
Page 7
ontinued...

International Academic Project5 Limited
Notes to the Finaneial Statements - eontinued
for the Year Ended 31 March 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
lui)d
TOTAL FUNDS CARRIED FORWARD
205.422
2U5,422
TAIYGIBLE FIXED ASSETS
Fixtures
and
fittings
COST
Al l April 2024 and 31 M￿ch 2025
11,902
DF.PRECIATION
Al l April 2024 and 31 M(Irch 2025
11,902
NF,T BOOK VAI.UE
Al 31 MarLh 2025
Al 31 March 2024
DLBI'ORS: AMOUNTS FAI.I.ILYC DUE WITHIN ONE YEAR
31.3.25
31.3.24
I'rade dLbior8
Prepayinenl8
2,225
1.123
11,987
3.34X
10,120
CREDI'foRS: AM()UNT% Tr ALLING DUF WITHIIY OLYE YEAR
31.3.25
31.3,24
Trade creditors
42,237
22,317
li)cluded in trade creditors 18 accrued cxpen8e8 and deferred income in the sum of £695 (2024.'£6,540). Deferred
iilLom¢ comprises oL-courbe fcLs paid in &idvanre ofthc course date.
fvIOVEMP NI. IN FUIYDS
Nel
movem¢nl
in funds
At
31.3.25
Al 1.4.24
UnrL'5trictcd funds
Genei'al fund
205.422
21,548
226,970
TOTAL FUNDS
205,422
21,548
226.970
Page 8
continued...

Internatlon741 Academic Projects Limlted
IYote$ 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..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Gener£il lund
180,144
{158,596)
21,548
TOTAL FUNDS
181),144
(158,596)
21.548
Comp#ratlvey for movement In funds
Nel
movemenl
in funds
Al
31.3.24
At 1.4.23
Unrestrlctcd fund5
Cieneral fund
182,933
22,489
205,422
TOTAI. bUNDS
1112,933
22,4119
205,422
C.omparalive nel movernent in fund8, included in the above are &8 follows..
ncoining
resource.8
Resource4
expended
M()vemenl
in lundt
Unrestricted fund
General fund
196,879
(174,390)
22,489
'roTAL FUND,8
196.879
{174,390)
22,489
A ¢urrent year 12 months and prior year 12 monlhs combined position is as follows..
Net
movemont
in funds
At
31.3.25
At 1.4.23
Unrestricted funds
General fund
182,933
44,037
226,970
TOTAL FUNDS
182,933
44,037
226,970
Page 9
continued..

International Academic Projects Limited
Notes to the Financi41 Statements - eontinued
for the Year Ended 31 Mareh 2025
MOVEMENT IN FUNDS- eontinued
A CLlI-ren( year 12 Inonths and prior yeai. 12 months combined nel movement in funds, included in the above are
tollow%:
Incoming
resources
Resources
expended
MovLTnent
in thnds
UnrestrictL'd funds
(ieneral fund
377,023
(332,986}
TOTAL FUNDS
377,023
(332,986)
44,037
io.
RELATLI) PARTY DISC.I.OSURES
l)uring Ihe ycar the conipany .secrelary, Mr J BlaL,k. W41S P&iid co-ordinator fccs in the suin of £1 0,000 (2024:
£24,500).
r)uring Ihe year Inlemalional Academic Projects Limited recharged cxpense8, in Ihe 8uin of £4,427 (2024:
£9..$26) l() ArcheiypL PubliL<ili()n.8 Limited and ArchelyPL PubliLalion8 Liiniled rLLhargied Lxpen%L% lo
IniLrn(Itional ALadLinic ProjeLts Limiled in the sum of £8,898 (2024,. £8.853). In Ilie year cnded 3 1st March
21124 ArLliclype lJubli¢alion,% limilcd inadL Siile.s at inarkLI valuc in Ihe 8um of £0 (2024.. £0) 1() Inierntilional
AL'ki(leinic I'rojccl% LiinilL'(l. Thc Loinpany %ecrctary Mr J Lllack is u diroctor (If ArLhelype PubliLaiion.% Limilcd.
LIMI'I'Tr:D BY GUAKAN'I'b:F,
'I'he coinpiiny is liinilLd by guuranlee. F.ach Member has agreed lo pay the niaxiinum of £ l in the evcnl of the
Cliiirily bcin&v wound up.
Page 10

InternAtlonal Academie ProJeets Limited
Detailed Statement of Financigl Activities
for the Year Ended 31 March 2025
31.3.25
31.3.24
INCOME AND ENDOWMENTS
Investment Income
Deposit account interest
3,166
2,130
Charitable activitles
c.ourse feL's
176,978
194.749
Total ineoming resources
180,144
196,879
EXPENDITURE
Charilable aetivitie5
Siatl. LU515
Rent, i'atcs and water
nsuranue
'I'eleplionc
Poslugc and slaiiunery
Sundries
cou￿¢ expenses
37,219
6,215
1,236
,576
6,130
240
98.368
51.120
4,979
1,231
1,263
5,472
240
102.620
150,984
166,925
Support eMts
Financc
Bank charge8
6,539
6,445
Gnv¢rnance eo8ty
Indepcndenl examiner fees
1,073
,020
Total re.￿urCeS expended
158,5C)()
174,390
Net income
21,548
22.489
Tliis page does not forni part of the statutory financial statements
Page 11