CHARITh REGISTRATION NUMBER: NIC100399
The Heart Trust Fund (Belfast Heart Centre)
Unaudited Financial Statements
31 December 2024
Finegan Gibson Ltd
Chartered Accountants & Registered Auditors
Causeway Tower
9 James Street South
Belfast
BT2 8DN

The Heart Trust Fund (Belfast Heart Centre)
Financial Statements
Year ended 31 December 2024
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Notes to the financial statements

The Heart Trust Fund (Belfast Heart Centre)
Trustees. Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year
ended 31 December 2024.
Chair's report
Reference and adminlstratlve detalls
Registered charity name
The Heart Trust Fund (Belfast Heart Centrel
Charity registration number
NIC100399
Principal offjce
9B Castle Street
Comber
Newtonwnards
BT23 5DY
The trustees
Dr R A Hamilton (Chairperson)
Professor J McLaughlin
Dr N Johnston
Sir M Horner
Mr D Allisler
Independent examiner
Conor Dolan FCA

The Heart Trust Fund (Belfast Heart Centre)
Trustees. Annual Report (continued)
Year ended 31 December 2024
Structure. governance and management
Governing Document
The Heart Trust Fund was established by a Trust Deed in 1980. There were subsequent amending
deeds and, in particular, a deed of settlement issued in the High Court in 1990 which clearly sets out
the objectives and the prescribed structure.
A change of name on Ihe Trust Deed from The Heart Trust Fund (Royal Victoria Hospital) to The
Heart Trusl Fund (Belfast Heart Centrel was approved by the Court in September 2021, having been
approved by The Charity Commission in January 2021.
Deeds of Retiremenl and Appointment of new Trustees were also updated in September 2021.
Appointment of Trustees
Trustees are recruited to meet the skills required to effectively run the charity. The number of trustees
is five, as prescribed by the trust deed. The skills and knowledge required include medical knowledge,
legal, investment and an understanding of research. There have been no changes to the Chair or
other Trustees during 2024.
Trustees Induction and Trainlng
New trustees are given a detailed explanation of the work of the charity. They are also guided through
the Trusl Deeds which established the charity with particular emphasis on the objectives. Visits to Ihe
Cardiology Department at the Belfast Trust are arranged at inlervals to allow Ihe trustees to develop a
good understanding of the organisalion which the charity was established to support. Such visils had
not occurred during the COVID pandemic but a visit was re-established during 2022 and hopefully
another will be arranged during the next few years.
Oryanisation Structure
The trustees usually meet or three times a year. depending on applications and financial
commitments. Discussion and decisions taken are recorded in the minules of each meeting. In the
event of an issue having no overall consensus, decisions are taken by a majority of vote. Three
meetings were held during 2024 in March, June and October.
Related Partles and Co-operation with other Organisations
As dictated by our Trust Deed, one of the Trustees is appointed by the Cardiology Department of the
Belfast Trust (Belfast Heart Centre), the organisation whi¢h the Charity was established to support.
Risk Management
The Charity does not recognise any 'major risks,. In order to meet the unlikely risk of legal challenge
the trustees have in place appropriate insurance.

The Heart Trust Fund (Belfast Heart Centre)
Trustees, Annual Report (￿ntInued)
Year ended 31 December 2024
Objectives and activities
The objectives of the fund are set out in Ihe 1990 Trust Deed with the name change updated in Deeds
of Retirement and Appointment of New trustees in 2021 and are as follows..
The advan￿ment and support of the Belfast Heart Centre.
The promotion and support of cardiac research in the Belfast Heart Centre.
The promotion of high standards of patient care in the Belfast Heart Centre.
The provision of facilities and services for the care of patients requiring care in the Belfast Heart
Centre.
The promotion of high standards of palient care in surgical cardiology al the regional centre in
Belfast.
The provision of facilities and services for the care of patienls requiring surgical cardiac treatment
at the regional centre in Belfast.
The promotion and advancement of hospital research into medical and surgical treatment in
cardiac disease in Northern Ireland.
Public Benefit
The Trustees, having regard to the Northern Ireland Charity Commission guidance on public benefit,
have reviewed the activities of the Trust and the work at the Belfast Heart Centre which the Trust
supports. Public health of the population of Northern Ireland is benefitted in a variety of aspecls of
cardiac care and a section on the application form for grants now requests clinical or societal impact to
be addressed.
Achievements and porformance
During 2024 the Trust continued to fund a variety of projects. A project over three years due to
complete early 2024 was given a three months extension, requested due to disruption caused by
COVID. Anolher project over two years for an MD completed in 2024. A third project to run over two
years commenced in August 2023. Progress reports from all grant recipients were provided at
intervals lo reassure progress to the Trustees and to anticipate any problems or delays as early as
possible which could affect funding.
One new application for research was received in 2024. This was the largest request for funding
received to date and a special presentation by the applicant and supervisors was arranged for Ihis
reason.
The applicant was successful in receiving funding from The British Heart Foundation and The Heart
Trust Fund agreed to fund 6 months set up costs with a view lo further funding at a later slage subject
to a further application and progress reports.
No applications were received to support stsff training during 2024.
The Heart Trust Fund website was kepi updated during the year.

The Heart Trust Fund (Belfast Heart Centre)
Trustees. Annual Report (continued)
Year ended 31 December 2024
Flnanclal review
The financial position of The Heart Trust Fund in 2024 was a value of £2,645,707 showing a decrease
in lotal value of 0.1°/.. Expendilure £279.314, was again higher than in the previous three years as
research recommenced following the pandemic and the Trust was fvnding 4 projects during 2024. The
majority of requests are now for 3 years PhD research and salaries have increased and cosls
associated with research have also increased. Tolal income generated from investments and
donations was £329,417, an increase from the previous year both in donations and legacies and
investment income. The investment management cosls associated wilh running Ihe Trust and its
investments was £15,34, higher than the previous year but equivalent to 4.7 /0 of gross income.
ReseNes Policy
It is our policy lo retain a cash resetve of approximately 500/0 of our average annual expenditure. At
the end of year our cash reseNe was £68,360. This is lower than the largel amount but expenditure in
2024 was higher both due to number of projecls funded and costs of individual projects increasing for
reasons given above. This is unlikely to change going forward.
Investment Policy
We maintain a statement of investment policy which continues to be reviewed on an annual basis.
Plans for future periods
We will continue to support the work in the Belfast Heart Centre as well as offering some Iraining
support to nursing staff in olher cardiology departments within Northern Ireland if requested. Due to
the larger amounts of grants being requested and the complexity of the projects il is likely thal the
Trustees will request to meet with the applicants and their supervisors for a presentation and
opportunity to ask questions before a decision regarding funding is made.
Post Year End Impact of Covid-19
Research activity appears to be thriving in the Belfast Heart Cenlre back to levels seen before COVID
and the expectstion is that applicalions for research grants will conlinue as previously. The Charity
finances appear to be fairly stable at present. Funding for projects is from income generated from
investments with some income from individual donations. There is some discretion in this if the value
of the fund is increasing and there are requesls for fvnding for projects deemed by the Trustees to be
worthwhile. The Trustee meetings will continue at two or three each year depending on applications
received. Financially the Trust is stable and in a good position to maintain its objectives in the year
ahead.
The trustees. annual report was approved on 15 Seplember 2025 and signed on behalfofthe board of
truslees by:
Dr R A Hamilton (Chairperson)
Trustee
Professor J McLaughlin
Trustee

The Heart Trust Fund (Belfast Heart Centre)
Independent Examiner's Report to the Trustees of The Heart Trust Fund
(Belfast Heart Centre)
Year ended 31 December 2024
I report to the trustees on my examination of the firbancial statements of The Heart Trust Fund (Belfasl
Heart Centre) ('the charity'l for the year ended 31 December 2024.
Responslbilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the '2008 Act,). You
are satisfied that your charity is not required by charily law lo be audited and have chosen instead to
have an independent examination.
I report in respect of my examination of the charity's financial statements as carried out under section
65 of Ihe 2008 Act. In carrying out my examination I have followed the general Directions given by the
Charity Commission for Northern Ireland under section 6519llb) of the 2008 Act.
Independent examinerfs statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because
l am a member of Chartered Accountants Ireland, which is one ofthe listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any malerial respect..
accounting records were not kept as required by with seclion 63 of the 2008 Act., or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of the 2008 Act: or
the financial ststements do not comply with the applicable requirements concerning the
form and content of accounls set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that Ihe accounts give a 'lrue and fair, view which is not a
matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper
understanding of the accounts lo be reached.
Conor Dolan FCA
Independent Examiner
Finegan Gibson
9 James Street South
Causeway Tower
BT2 8DN
Dale=
Syt

The Heart Trust Fund (Belfast Heart Centre)
Statement of Financial Activities
Year ended 31 December 2024
2024
Unrestricted
funds Total funds Tolal funds
2023
Note
Income and endowments
Donations and legacies
Investment income
21,150
308,267
21,150
308,267
2,775
78,015
Totsl income
329,417
329,417
80,790
Expenditure
Expenditure on raising funds..
Costs of raising donations and legacies
Investment management costs
Expenditure on charitable activities
Total expenditure
(2161
(2161
11971
(15,342)
(15,3421
(12,9011
(263.7561 1263,756) 1182.5591
1279,3141 1279.314) 1195.6571
Net {lossesllgains on investments
10
(53,724)
{53,724)
157,651
Net {expenditure)lincome and net movement in funds
(3.6211
(3,621)
42,784
Reconciliatlon of funds
Totsl funds brought forward
Total funds carried forward
2,649,328
2,649,328
2,606,544
2,645,707
2,645,707
2,649,328
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing aclivities.
The notes on pages 8 to 15 form part of these flnanclal statements.

The Heart Trust Fund (Belfast Heart Centre)
Statement of Financial Position
31 December 2024
2024
2023
Note
Fixed assets
Investmènts
14 2,684,420
2,676,286
Current assèts
Debtors
Cash at bank and in hand
15
350
22,672
366
34,383
23,022
34,749
Creditors: amounts falling due within one year
Net Current liabilities
16
61,735
61,707
38,713
26,958
Total assets less current liabilities
2,645,707
2,649,328
Net assets
2,645,707
2.649.328
Funds of the charlty
Unrestricted funds
2,645,707
2,649,328
Totsl charity funds
17 2,645,707
2,649,328
These financial statements were approved by the board of trustees and authorised for issue on 15
September 2025, and are signed on behalf of the board by..
Dr R A Hamilton (Chairperson)
Trustee
Professor J McLaughlin
Trustee
The notgs on pages 8 to 15 forni part of these financial statements.

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements
Year ended 31 December 2024
General Informatlon
The charity is a public benefit entily and a registered charity in Northem Ireland and is
unincorporaled. The address of the principal office is 9b Castle Streel. Comber. Newtownards,
BT23 5DY.
ststement of Compllance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, Ihe 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 1021 (Charities
SORP (FRS 1021) and the Charities Act (Northern Ireland) 2008.
Accounting policies
Basls of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investmenl properties measured at fair
value through income or expenditure.
The financial statements are prepared in slerling, which is the functional currency of the entity.
Going concern
There are no material uncerlainties about the charity's ability to continue.
Disclosure exemptions
The charity has taken advantage of the exemption in SORP 2015 from the requirement to
produce a cashflow statement because it is a small Charity.
Judgements and key sources of estlmatlon uncertainty
The preparation of the financial statements requires management to make judgemenls,
estimates and assumptions that affect the amounts reported. These estimales and judgements
are continually reviewed and are based on experience and other factors. including expectations
of fulure events thal are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestrrcled funds earmarked by the Irustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds.

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements fconlinuedj
Year ended 31 December 2024
Accounting pollcies (eontinu8d)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed lo the charily- it is probable that the economic benefits associated with the transaction
will flow to the charity and Ihe amount can be reliably measured. The following specific policies
are applied to particular categories of 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 lo Ihe donor
or the estimaled resale value. Donated facilities and services are recognised in the
accounts when re￿iVed rf the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of seNices is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless Ihere 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.
Resources expended
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 relates:
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activilies that further its charitable aims for the benefit of its beneficiaries, including Ihose
support costs and costs relating io the governan￿ of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neilher related to raising funds for the
charity nor part of its expenditure on charitable aclivilies.
All costs are allocated to expenditure catègories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned
be￿een the a¢livities they contribute to on a reasonable. juslifiable and consistent basis.
Tangible assots
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value al the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulaled impairment losses.

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements (continuad)
Year ended 31 December 2024
Accounting policies (6onfinu•d)
Tangtble assets {conlinuedJ
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses. unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial aclivilies. A decrease in the carrying
amount of an assel as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows..
Fixtures and fittings
25°/0 Straight line
Investments
Unlisted equity investments are initially recorded at cost. and subsequently measured at fair
value. If fair value cannot be reliably measured. assets are measured at cost less impairment.
Listed investments are measured at fair value wilh changes in fair value being recognised in
income or expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with Ihe recoverable
amounl being eslimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporknng date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generaling unit to which the assel belongs. The cash-generating unit is Ihe smallest
identifiable group of assets Ihal includes the asset and generates cash inflows that largely
independent of the cash inflows from olher assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefil from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assels and current liabilities are subsequently measured at the cash or olher
consideration expected to be paid or received and not discounted.
10

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 December 2024
Accounting policies (conlinuedj
Financial instruments (continued)
Debt instruments are subsequenlly measured at amortised cost.
Where investments in shares are publicly traded or Iheir fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of inleresl
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rale of interest for a similar debt inslrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective eviden
of impairment at Ihe end of each reporting dale. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriale heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Olher financi81 assets are
either assessed individually or grouped on Ihe basis of similar credit risk characterislics.
Any reversals of impairment are recognised immediately, to the extent Ihat the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donations
Donations
21.150
21.150
2,775
2,775
Investment Income
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Income from UK listed investments
Bank interest receivable
308,200
67
308.200
67
76,758
1.257
76,758
1,257
308.267
308.267
78,015
78,015
11

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Costs of raising donations and legacles
Unrestricled Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Costs of raising donations and legacies
Donations
216
216
197
197
Investment management costs
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Inveslment management fees
15,342
15,342
12,901
12,901
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Support to the Regional Medical
Cardiology Centre at RVH
Governance costs
260,822
2,621
313
263,443
313
178.927
3,632
260,822
2,934
263,756
182,559
Analysis of support costs
Support to the
Regional
Medical
Cardiology
Centre al
RVH Total 2024 Total 2023
Premises
Communications and IT
General office
Governance costs
777
383
1,461
313
777
383
1,461
313
892
353
3.294
3,632
2,934
2,934
8,171
10. Net (losses)Igains on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gainsl(losses) on listed investments
153.724)
(53,7241
157.651
157.651
12

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements fconlinued)
Year ended 31 December 2024
11. Independent examination fees
2024
2023
Fees payable to the independent examiner for:
Independent examination of the financial stslements
1,896
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
re￿iVed by the Irustees.
13. Tangible fixed assets
Fixtures and
fittings
Cost
At 1 January 2024 and 31 December 2024
Depreciation
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024
450
450
At 31 December 2023
14. Investments
Cash or cash
Listed
equivalents investments
Total
Cost or valuation
At 1 January 2024
Additions
Disposals
Fair value movements
Other movements
58,742
{519.0731
653.411
2,617,544
519.073
1653,4111
191,360
191.360
(58,5061 {183,226)
2,616,060
2,684,420
2,676,286
{124.7201
68.360
At 31 December 2024
Carrying amount
At 31 December 2024
68,360
2,616,060
2,684,420
Al 31 December 2023
58,742
2,617,544
2.676,286
All investments shown above are held at valuation.
Financial assets held at fair value
These investments were valued by Brewin Dolphin, Belfast.
13

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements (conlinu¢dJ
Year ended 31 December 2024
15. Debtors
2024
2023
Prepayments and accrued income
350
366
16. Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
Accruals and deferred income
11601
61,895
32,240
29,467
61,735
61,707
17. Analysis of charitable funds
Unrestrlcted funds
At
1 January 20
24
At
Gains and 31 December
losses
2024
Income Expenditure
General funds
2,649,328
329,417
(279,3141
{53,7241 2,645,707
At
1 January 20
23
At
Gains and 31 December
losses
2023
Income Expenditure
General funds
2,606.544
80,790
(195,6571
157,651
2,649,328
18. Analysis of net assets between funds
Unreslricted Total Funds
Funds
2024
Investments
Current assets
Creditors less than 1 year
Not assets
2,684,420
23.022
{61,7351
2,645,707
2.684,420
23.022
{61.735)
2.645.707
Unrestricled Total Funds
Funds
2023
Investments
Current assets
Creditors less than 1 year
Net assets
2.676.286
34,749
{61,7071
2,649,328
2,676,286
34,749
161,7071
2,649,328
14

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Financial Statements (continued)
Year ended 31 December 2024
19. Related partles
No related paty transactions occurred during the 2024 year (2023.'NILI.
15

The Heart Trust Fund (Belfast Heart Centre)
Management Information
Year ended 31 December 2024
The following pages do not fomi part of the flnanclal ststements.
16

The Heart Trust Fund (Belfast Heart Centre)
Detailed Statement of Financial Activities
Year ended 31 December 2024
2024
2023
Income and endowments
Donatlons and legacies
Donations
21,150
2,775
Investment income
Income from UK listed investments
Bank interest receivable
308,200
67
76.758
1.257
308,267
78,015
Total income
329,417
80,790
17

The Heart Trust Fund (Belfast Heart Centre)
Notes to the Detailed Statement of Financial Activities
Year ended 31 December 2024
2024
2023
Costs of raising donations and legacies
Costs of raising donations and legacies . Donations
Fundraising costs
216
197
Costs of raising donations and legacies
216
197
Investment management costs
Investmenl management fees
15,342
12.901
Expenditure on charitable activtties
Support to the Regional Medical Cardiology Centre at RVH
Activities undertaken dlrectly
Research grant costs
Website costs
260.290
532
174,243
145
260,822
174,388
Support costs
Rent & rates
Insurance
Secretarial expenses
Telephone
Poslage. stationery and advertising
Sundry expenditure
625
267
2,572
353
209
513
777
1,082
383
335
44
2,621
4,539
Governance costs
Accountancy services
Bank interest payable
265
48
3.591
41
313
3.632
Expenditure on charitable activities
263,756
182,559
Net (losses)Igains on investments
Gainsl(losses) on listed investments
153,724)
157.651
Net (expenditure)fincome
(3,621)
42.784
18