Company registration number.. N1036126 Charity registration number.. 100496 AGE north down & ards (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024
AGE north down & ards Contents Reference and Administrative Detsils Trustees, Report 2to5 Statement of Trustees, Responsibilities Independent Examinees Report Statement of Financial Activities Balance Sh¢ct Notes to the Financial Statements 1010 18
AGE north down & ards Reference And Administrative Details Trustees Paul Leathem Heather Mason Adrianne Brown Gerard O'Boyle Dorodiy Willis Beattie Secretary Registered Office 24 Hamilton Road Bangor Down BT20 4LE The charity is incorporated in Northern Ireland. N1036126 Company Registratlon Number Charity Registration Number 100496 IndepeJ)d¢nt Examiner Hamilton Morris Waugh Chartered Certified Accounlanls 34 Dufferin Avenue Bangor Co Down BT20 3AA Page I
AGE north down & ards Trustees, Report Trustees and offlcers Tlie trnstees and officers serving during the year and since the year end were as follows.. Jarnes Steven Johnston (resigned 30 November 2023) Paul Leathein Trustees: Heather Mason Adrianne Brown Gerard O'Boyle (appointed 30 August 2023) Secretary.. Dorothy Willis B¢attie The trustees. who are also directors for the purposes of company law, have pleasure in presenting their reporl and the financial statements of the charity for the year ttnded 31 Mar¢li 2024. Structure, GovernaDce and MaD8Eement Governing document AGE north down & ards (AGEnda) is a conipany limited by guarantee governed by its Memordndum dnd Arti¢les of Association. Lt is recognised as a charily by HM Revcnue & Customs. Re¢ruAtment and appointment of trustees Tlie tSlee$ of the Gharity are also directors for the purposes of company law. Under the tei'ms of the Memorandum and Articles of A550e.ialion the directors retire every three years by rotation at the Annual Meeting. None of the trustees receive any remuneration from the charity. Tlie trustees are a blend of senior business professionals and sociauvolunlary sector ski115. As and wli¢n certain skillslexperience are lost due to natural rotation, active steps are taken lo secur¢ successor TTUStees from within the busines51voluntary se¢lors. Trustee inductfion and tTRlnlng Most tnistees are already familiar wilh the work of the charity and have an affinity with the vision, purpose, and values. All new Trustees will undertake comprehensive induction to ensure they #re familiar with their Icgal responsibilities as a Trustee of AGEnda. This induGtion is nomially carried oiil by a siiitably qualified external onsullant and is framed aiound the Principles of Good Govemance developed by the Governments Developing Governance Group (Revised 2016) and is also a practi¢¢ recommended by Charity Commission for Northern Ireland. Organisation AGEnda 18 a limited company which has developed ils ¢apabililies and reputation in the Ards and North Down area. covering both urban and rural 51tualions. Together with a strong committed team coupled with sound financial manageTnent, thes¢ provtde a platforni to progress its strdtegy over the next years. AGEnda has developed the ne¢essary sy5t¢ms. st¢re, policies, und procedures ¢0 manage finances, staff, and volunteers. Tliis includes good financial control and monitoring and evaluation procedures. AGEnda has a 3-year strategic plan for 2023 - 2026 and an outcome based operational plan to be reviewed aniiually. Page 2
AGE north down & ards Trustees, Report AGEnda's work is caled out by a team comprising of 8 part time paid staff and over 30 volunteers. Led by a voluntary Board of Trustees, the slaff Complement is funded from grant aid to deliver a range of services lo Ioc81 people. As in other voluntary charitable organisations. a substantial volume of work is carried out by people who ar¢ commilled to working wilh older people and give their lime willingly without recompense. The Board of AGEnda greatly value the work of the volunteers ]d continually stiive to ensure tliis contribution i'eceives suitable recognition. AGEnda complies with all public sector directives and legislation relating to working conditions, heilth. and safely at work and equal opportunities. The charity is also Committed lo coinply with all ¢urrenl equality and human rights legislation. Over its 24 years as a limited company. AGE north downs & ards has provided direct support e.g., Good Morning Call. Service. Floating Suppon S¢rvice, Support and Signposting, to ensure older people in the Ards & North area are comfortable with growing old. Relationships AGEnda has strong working relationships with a wide range of organi5ations and agencies that have a mandate for the delivery of servi¢es to older people. Risk management Tlie niajor risk5, to which the Charity could potentially be exp05cd as idenlificd by the Tru5t¢es. is kept under constant Teview. Objective5 and activitie5 Charity'5 Aims The principal activities of the company ar¢ to advance the interc5ts and be for the benefit of th¢ elderly in tli¢ ai'ea known as North Dowii and Ards. aiid lo assist others In the pursuanc¢ of these activities. The AGEnda Strategy 2021 2023 sets out the following. Vision Ards and North Down celebrating older people living healthy and fulfilling lives. Purpose To support and enLourage all old¢r p¢ople to live w¢ll and become active. engaged and influential members of the community. Mission To provide person-centered and ¢aring Programmes that keep people safe, well. connected and independent. Our Values To be Collaborative. To be Open aiid Transparent. Trealing all with Dignity & Respect. To be Inclusive & Accessible. Pag¢ 3
AGE north doivn & ards Trustees, Report Achievements and Performances Strategy Review In 2022. we developed a new 3-year strategic plan for 2023-2026. This was shaped and led by older people in our local community. We completed an intcnsiv¢ consultation with older people and stakeholders including 70 surv¢y respondents. 14 stakeholder interviews. a focu5 group with 20 participants from a range of organisations and a telephone consultation with 21 users. The feedback highlight¢d an increasing need for enhanced levels of social opportunities for older people and tnore spaces for them to not only so¢ialise but to interact. engage and speak to Statutory agencies such a5 the PSNL. Nl Fire and Rescue and th¢ NHS, as well as ¢xpanding their knowledge and skillset on issues such as budgeting, navigating and accessing services, technology, cooking, seams and advice on housii)g, benefit5 and financial security thyough speaking lo experts in that field etc. As a result, we agreed the following priorities for action for the next 3 years. Priorities for action 2023 - 2026 To sustain and ¢xl¢nd a free, confidenli&l, telephone service. To sustain and extend floating support services of help and advice in a person's home lo make it easier to maintain their independence in the home and community. To create additional support to people who are isolated and lonely. To enable people to access the support they need to live healthy and independent lives. To organise events thal give peopl¢ an opportunity to connecl, leam, access serviceb and support each other. To conttnue to build th¢ ¢&pucity and long-tem sustainability of the charity. Services Our main services in this year were.. Good Morning Call service -a free confidential daily telephone call service for those over 65 in our couiicil area, which encourages conimunication among older people. This year ihe nuniber of successtul calls made to support older people were 20.988. Floating Support Service which provides short term advice and help5 encourage independence among older people ai home and in their community. Support & Signposting - which is a listening ear to those who need reassurance and support. If AGEnda can't l)elp the clients. they pass them on to the person or organisation who can support them. AGEnda acts as a "Hub" in the local area, focusing on delivering services lo older people from 65 years of age. AGEnda provide assistance to individuals contacting via email, telephone and website. According to the 2021 Census, Ards and North Down h85 the oldest age profile in Northern Ireland. The percentage of the population who are aged 65 or more has increased over the last ten years from 17.7010 in 2011 to22.lQ/oin2021. Ards and North Down Borougli Council have over 33.000 over 65-year-olds. AGEnda recognis¢s that one organisatioii cannot pos.8ibly deliver s¢rviees to all older people in need throughout the local area. AGEnda is therefore commi11 to working in Partnership to ensure older people get tlie services they i)eed. Page 4
AGE north down & ards Trustees, Report Finonclal review Results for the year The total income for the year was £119,003 {2023.' £103,253) and Lhe overall n¢t deficit was £17,475 (2023 deficit of £9,856). The deficit on unresiricled funds was £6,325 (2023 unrestricied surplus £4,796). The principal funder5 for the year were NIHE - Supporting People, the South-Eastern Healili & Social Care Trust & Community Foundation Nl. The charity a159 received grants from Halifax as well as various donations. Reserves policy The Trustees have examined the charity's r¢quirement for reserves in light of the main risks to th¢ ndillg of the organisation. Unrestricted free reserves al the year-end were £57,428 (2023 £53.643) which represents 5 months of operating costs. Free reserves are needed to sustain the day-to-day operations of Ilie charity. Tlie Trustees onsider that the ideal level of reserves to meet the running eosls for a period of 6 months to be in the region of £60.000. The Trustees consider that the free reserves will be needed to sustain the charity as future funding opportunities are explored. Disclosure of information to auditor Each trustee l)as taken steps that they ought to have taken as a Iru5tee in order to make themselves aware of any relevant audit informatioii and to establish that the charity's audilor is aware of that infomialion. The truslccs confirm that there is no relevant infoiinalion that Ihcy know of and of which they know the auditor ib unawar¢. Approved by the Iruslees of the charity on and signed on its btthalf by.. Paul Leathem Tru5t¢e Page 5
AGE north down & ards Statement of Trustees, Responsibilities The trustees (who arc also the directors of AGE north down & ards for the purposes of company law) are responsible for prepai'ing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally A¢cepled Accounting Practi¢e). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial slalemenls for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including ils income and expenditure, of Ihe charitable Company for that period. In preparing these financial statements, the tnbstees are required to.. scl¢¢t suitable accounting policies and apply them consistently. observe the m¢thod8 and principl¢s in the Charities SORP. make judgemcnls and estimates that are reasonable and prudent. slate whetlier applicable a¢coLinting standards, comprising FRS 102 have been followed, siibject lo any material departures disclosed and explained in the financial stateinents.. and prepare the financial stateiments on the going concern basis unless it is inappropriate to pr¢siime that the charitabl¢ ¢ompany will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure th&1 the financial statements comply with the Companies Act 2006. They are also responsible for saleguarding Ilie assets of the charitable company and hence for taking reasonable steps for th¢ prevention and detection of fraud and other irre&Fularilies. The trustees are responsible for the maintenance and integrity of the corporate and financial inforn)ation included on the charitable company's website. Legislation governing the preparation and disseinination of fiiiancial stalenienls may differ from legislation in other jurisdictions. Approved by the trustees of the charity on .-..... L*and Signed on its behalf by.. Paul Leathcm Trustee Page 6
AGE north down & ards Independent Examiner's Report to the trustees of AGE north down & ards ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Independent examiner's Statement I have completed my examination. I confirni that no matters have come to my atieniion in connection with Ilie examination giving me cause to believe.. accountjDg records were not kept in respect of AGE north down & ards as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirenient that the accounts give a 'tNe and fair view, which is not a matter considered as part of an ndependent eKainination' or 4. the accounts have not been prepared in accordance with the methods and principles of the Statemenl or Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no ¢on¢crns and have come across no other Inatlcrs in connection willi tlie examinaiioii to which altention should be drawn in this report in order to enable a proper uiiderstanding of tlie accounis lo be reached. Adam McDowell FCCA Chartered Certified Ac¢ounlants 34 Dufferin Avenue Bangor Co Down BT20 3AA Dale.. ..I:...l.Ig Page 7
AGE north down & ards Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2024 Unrestricted Restricted Note Income aDd Endowments from: Charitable activities Donalions and legacies Investment income 31,330 1,088 1.463 79,122 6,000 110,452 7,088 1,463 Total Income 33.881 85,122 119,003 Expcndlture on: Charitable activities Goveman¢e costs (38,649) (1.557) (95,493) (779) (134,142) (2,336) Total Expenditure (40.206) (96,272) (136.478) Net expenditure Net movement in funds (6,325) (11.150) {17.475 (6.325) (11,150) (17,475) Re¢onciliatioii of funds Total funds broiight fonvard Total funds carried forward 67,982 30,471 98.453 13 61.657 19,321 80,978 TotRI 2023 Unrestrict¢d Restricted r4ote Incon)e and Endowments from: Charitable activities Donation5 and legacies Investment income 36,567 897 284 48,383 17.392 84,950 18.289 284 Total Income 37,748 65.775 103,523 Expenditure on: Charitable aclivilies Governance costs (31,395) (1.557) (76.078) (779) (107.473) (2,336) Total ExpenditUTe Net in¢omel(expenditure) (32.952) (76,857) (109,809) 4.796 {11,082) (6,286) Net movemcnt in funds 4.796 (11,082) (6,286) Recon¢ili3tlon of funds Total funds brought forward Total funds carried forward 63,186 41.553 104.739 13 67.982 30,471 98,453 All of the charity's activities derive from continuing operdtions during the above Iwo periods. The notes on pages l O to 18 form an integral parl of these financial statements. Page 8
AGE north down & ards (Registration number: N1036126) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets 4,230 5,638 Current assets Debtors Cash at bank and in hand 434 81.242 449 96,875 10 81,676 97,324 Creditors: Amount5 falllng due within one year (4.928) 4,509) Net current assets 76,748 92,815 80,978 98,453 N¢t assets Funds of the chArity: Restricted income funds Reslri¢led tunds 19,321 30,471 Unrestricted income funds Unrestricted funds 61,657 67,982 Total funds 13 80,978 98,453 For the financial year ending 31 March 2024 the ¢harity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to Small companies. Directors, responsibilities.. The members have not required Ihe charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors a¥knowlgdgc their responsibilities for complying with the reqiiirements of the Act with respcct to accounting rccords and the preparation of accounts. nancial statements on pages 8 to 18 were approved by the trustees, and autliorised for issue on L4r.. and signed on their behaifby.. Paul Leathem Trustee yle Trustee The notes on page5 1 O to 18 forni an integral part of these financial stalemenls. Page 9
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The Charity is a charity limited by guarantee and consequently does not have share capital. Each of the Iru5tees is liable to contribute an amount not exceeding £1 towards Ihe assets of the charity in the ev¢nt of liquidalion. The address of its registered office 15.. 24 Hamilton Road Bangor Down BT20 4LE Authorised for issue dat¢ 2 Ac¢ounting policies Summary of $ignifJcollt accounting policies 2nd key #¢counting estlmates Tlie principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the y¢ars presented, unless othenvise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities-. Statement of Recomrnendod Practice (applicable to uharilies preparing Ihcir aLCOllIlts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019} (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and R¢public of Lrelaiid (FRS 102) and tlie Companies Act 2006. Basis of preparation AGE north down & ards meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy no¢es. Going concern Tlie trustees consider that there are no material uncertainties about the charity's ability to continue as a going con¢¢rn nor aiiy significant areas of uncertainty that affect the cairying value of assets held by the charity. In¢ome and endowments All income is recognised once the charity has entitlement to the income, il is probable that the income will be received and the amount of the income receivable can b¢ measiired reliably. Giants receivable Grants are recognised when the charity has an entitlement to the funds and any conditioiis linked to the graJ]ts liave been met. Where performance conditions are attached lo the grant and are yet 10 be mel, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Page 10
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 Expendlture All expenditure is recognised once there is a legal or constructive obligation lo that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where ¢osls cannot be dire¥tly altribiiled to particulai. headings th¢y have been 8llocat¢d on a basis consistent with the use of resources, with central staff ¢osls allocated on the basis of time spent, and depreciation charges allocated OD the portion of the asset's use. Other support costs are allocated based on ihe spread of staff costs. Raisingfuiids These are costs incurred in altracting voluntary income, the management of inv¢stments and those incurred in trading activities that raisc funds. Support costs Suppon costs include ¢entral fijnctions and have been allocated to aetivity Cost categories on a basis con8lStent with the use of resources. for example, allocating property Costs by floor 21'eas. or per capita, staff ¢osts by the time spent and other costs by their usag¢. GovernaDee costs These include the costs attributable lo the charity's compliance with constitutional and statutory r¢quir¢ments. including audit. strategic Jnanagcment and trustees meetings and reimbursed expenses. Tayation The charity is considered 10 pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingyly. the ¢liarity is potentially exempt from taxaiion in respeet of incoine or capital gaiiis reccived within categories overed by Chapter 3 Part I l of Ihe Corporalion Tax Acl 201 O or Se¢lion 256 of Ilie Taxation of Chargeable Gains Act 1992, 10 lh¢ extent that such income or gains are applied exclusively lo charitable purposes. T Angible fixed Assets Lndividual fixed assets c05ting £500.00 or more are initially recorded at cost, less any subseqiient accumulated depreciation aiid subsequent accumulated impainn¢nt105ses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows: Cash gnd cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other 5hort-term highly liquid investments that are readily convertible to a known amount of cash and are 3ubj¢ct to an insignificant risk of change in vali1¢. Page 11
AGE north doivn & ards Notes to the Financlal Statements for the Year Ended 31 March 2024 Trade creditors Trade creditors are obligations to pay for goods or services thai have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as CUlTenl liabilities if the charity does not have an unGonditional right, at the end of the reporting period, lo defer settlement of the creditor for at leasi twelve months after the reporting date. If there is an unconditional right to defer settlement for al least twelve months after the reporting dale. they are presented as non-current liabilities. Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised Cost using the effective interest method. Fund structure Unrestricted income funds are general funds that are available for use al th¢ trustee5 discretion in furtherance or the objectives of the charity. Restricted income funds aTe those donated for use in a parti¢ular area or for specific purposes. the use of whi¢h is restricted to that area or purpose. Page 12
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from charitable aetivities Unrestricted funds General Restricted funds TotAI 2024 Total 2023 South Eastem Health & Social Care Trust NIHE- Supporting People PCSP - Ards & North Down Community Foundation for Nl Donations & Subscriptions Grants & Other income Interest received Awards for All John Moore Foundation 31,330 31,330 44,847 28,360 45,978 2,000 44,847 34,275 34,275 1,088 6,000 1,463 1.088 897 12,815 284 9,949 J,240 6,000 1.463 33,881 85,122 119.003 103,523 4 Investment income Unrcstrict¢d fund5 General Total funds Other investmenl income 1,463 1,463 1,463 Total for 2024 1,463 284 284 Total for 2023 Page 13
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 5 Expenditure on charitable aetlvities Unrestricted funds General Restricted runds Total funds Note Governance costs 1,557 779 2,336 Total for 2023 1,557 779 2,336 Unrestricted funds General Restricted funds Total 2024 Total 2023 Advertising & sundry expenses Travelling Subscriptions Legal. pyofessional & consultancy fees Proj¢cl costs Bank charges Leasing payments F&F depreciation Staff Costs Casual wages & staff traiiiing Office costs Staff pensions 140 16 243 360 138 712 500 154 955 270 185 1,410 768 39 312 423 6,811 18,862 75 446 985 53,482 53 13,068 501 8,221 19,630 L14 758 1,408 81,681 91 19.762 868 15,804 8,478 91 720 1,880 60,971 28,199 38 6,694 367 18,495 579 18.649 95,493 134,142 107,473 6 Independent examiner's remuneration 2024 2023 Examination of the financial stat¢ments 2.336 2,336 Page 14
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 7 Taxation The charity is a registered charity and is therefore exempt from taxation. 8 Tangible fixed assets Lnnd and building5 Furniture and equipment Total Cost At l April 2023 20,689 64,362 85,051 Ai 31 March 2024 20.689 64,362 85,051 Depreciation Ai l April 2023 Charge for ihe year 20.689 58,724 1,408 79,413 1,408 At 31 March 2024 20,689 60,132 80,821 Net book value Ai 31 March 2024 4,230 4,230 Al 31 March 2023 5,638 5,638 9 Debtors 2024 2023 Prepayments Other debtors 434 420 29 434 449 10 Cash and cash equivalents 2024 2023 Cash at bank 81.242 96.875 Page 15
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 I I Creditors: amounts fAlling due withln one year 2024 2023 Trade Creditors Other taxation and so¢ial security Other Creditors Ac¢ruals 1,119 847 626 2,336 1,632 541 2,336 4,928 4,509 12 Pensi1) and other schemes Defined contribution pension scheme The charily operates a defined contribution pension s¢heme. The pension cost ¢harge for the year rcpresents contributions payable by the charity to the scheme and amounted to £600 (2023 - £630). Page 16
AGE north down & ards Notes to the Financial Statements for the Year Ended 31 March 2024 13 Fund5 Balance at I April 2023 Incoming resources Resources expended Balance at 31 March 2024 Unrestricted funds General UnrestTiCted funds 67.982 33,881 (40,206) 61,657 Restricted funds NIHE (Supporting People) Commuiiily Foundation for Nl Halifax Granls 39 26.168 44,847 34.275 6,000 (44,834) {47,174) 52 13,269 6,000 4,264 (4,264) Total r¢stricted funds 30,471 85.122 (96,272) 19.321 Total funds 98,453 119,003 {136,478) 80,978 Balanee at I April 2022 Incoming resources Resourees ¢xpended Balan¢e at 31 March 2023 Unrestri¢ted funds General Unr¢stricted funds 63,186 37,748 (32,952) 67.982 Restricted NIHE (Supporting People) Community Foundation for Nl Grants DFC (31) 34,584 7,000 45.978 (45.908) (8.416) (20,533) (2.000 39 26,168 4,264 17.797 2.000 Total restricted funds 41,553 65,775 (76,857) 30,471 Total funds 104,739 103.523 (109,809) 98,453 14 Analysis of net funds At l April 2023 Fin8neing cash At 31 March flows 2024 Cash at bank and in hand 96.875 {15,633) 81.242 Net debt 96,875 (15.633) 81,242 Page 17
AGE north down & ard5 Notes to the Financial Statements for the Year Ended 31 March 2024 15 Analysis of net assets betiveen funds Unrestricted funds Generthl Total funds at 31 Mareh 2024 Restricted funds 4.230 80,976 (4,9281 Tangible fixed asset5 Current assets cuellt liabilities 4,230 61,655 (4,928) 60,957 19,321 19.321 80,278 Total nei ass¢ts Unrestricted funds General Total funds at 31 March 2023 Restri¢ted funds Tangible fixed assets Current assets Current liabilities 5,638 66,853 (4,509) 67,982 5,638 97,324 (4,509) 98,453 30,471 30.471 Total net assets Page 18