COMPANY REGISTRATION NUMBER." N1028651 CHARITY REGISTRATION NUMBER: 100769 Galbally Youth & Community Association Company Limited by Guarantee Unaudited Financial Statements 31 August 2022 BRIAN ROBINSON ACCOUNTANCY LTD Chartered Accountants 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP
Galbally Youth & Community Association Company Limited by Guarantee Financial Statements Year ended 31 August 2022 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees statement of financial activities (Including income and expenditure account) Statement of financial position Notes to the financial statements 10 The following pages do not form part of the financial statements Detailed statement of financial activities 19
Galbally Youth & Community Associatlon Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 August 2022 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022. Roference and admlnistrative detalls Reglstered charlty name Galbally Youth & Communily Assoclation Charity registratlon number 100769 Company registratlon number N1028651 Prlncipal office and registerod 38 Lurgylea Road offlce Galbally Dungannon BT70 2NX Tyrone The trustees Mr Michael O'Hag8n Mr Marlln Rafferty Mr Brendan Kane Mr Brlan Kelly Ms Paullne Glrvan Mr Paul Kelly Mr Michael Mcvelgh Mr Fergal O'Donnell Company secretary Mr N061 McG8ary Independent examlner Brian Roblnson Accountancy Ltd 30 Main Street Castlecaulfleld Dungannon Co Tyrone N Ireland BT70 3NP structure, governance and management Galbally Youth & Community Associatlon 18 a company limlted by guarantee governed by Its memorandum and articles of association whlch was adopted on 24th October 1995. It Is reglstered with the Charity Commission for Northern Ireland. The trustees listed above manage and govern the organisatSon and all decisions are made at committee level. Marlin Rafferty acts as Chairperson, Noel McGeary as Secretary and Michael O'Hagan as Treasurer. In addltion to the trustees the organlsation relies on the assistance of approxlmately fifty volunteers in relation to fundralsing, planning and delivering a ranse of local activities and events.
Galbally Youth & Community Association Company Llmlted by Guarantee Trustees, Annual Report {Incorporating the Director's Report) {contlnuedJ Year ended 31 August 2022 Objectivas and actlvltlos In setllng our oblectlves and planning our activities for the year the Trustees have given caroful consid6ration to the Charity Commlsslon for Northern Ireland's guidance on public beneflt to ensure that th8 aclivities have helped the charlty achieve il's purposes and provlde a publlc benefit to the beneflciaries. The Charitable Obl6ctlves of our organlsalion are as follows, The advancement of citizenship or community development The advancement of educatlon The prevention or rellef of poverty The advancement of the 8rts, culture, herltage or sclence The rellef of those In need by reason of youlh, age, ill health, disabillty, financ121 hardshlp or other disadvantage The maln activitles we undertook In thls perlod Includes, Providing leadership and management for Galbally Community Centre as a central rursl hub providlng a range of services for people living In Galbally, Cappagh and surroundlng communlties. Ensure the long term sustainability of Galbally Community Centre and ensure that it is maintained to a high standard for communilylpublic use, Working in partnershlp wlth other local organisatlons (e,g. Galbally Pearses GAC, Paddlngton Playgroup and Out of School Club, Cappagh Village Regeneration Group, Country Club, Galba11y Youlh Club, Galbally Friends Fund) to address local issues and Improve quality of lif8 for local people. Working in partnershlp with statutory agencies and other community and voluntary sector organisations to add value to the range and quality of servlces and activities provlded for local people. Develop the knowledge, skills and capaclty of local people through training and educational actlvlties. Improve health and wellbeing of Ioc21 people through a range of Innovative health and wellbeing programmes. Strateglc report The following sections for achlevements and performance and financial review form the slrateglc report of the charity,
Galbally Youth & Community Associatio Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 August 2022 Achlevements and performance Main achlovemenls in this perlod Include,. Delivery of Game Chan96r, a programmo targeting young people aged 16-25 in areas of p6rsonal development, employability and good relations. Supported development of Galbally Youth Club. Further work progressed with the Department of Educatlon (through the Youth Work Capltal Scheme) for new Youth Annexe at Galbally Communlty Centre. New Collab Club (mixed abillty group) establlshed for young people. Range of health and wellbeing talks and seminars hosted. Blood Transfusion Service hosted, Hosted wedding for local couple. Hosted a Night for Aimee (in memory of a young woman killed In a car accident) which raised circa £30,000 for charity. Big Spring Clean done Includlng significant exterior deaning of roof and walls, Makeover of coffee bar wlth new tables 8nd chairs purchased. New gym facility opened al Galbally Communlty Centre, attracting an influx of new members and providing approx. 12 classes per week and personal training to help improve health outGomes and reduce health inequalities. Walklng for Health Group for 50+ Still going strong and undertook a range of weekly walking trlps. Gymnastlcs classes and varlous dance and fitness classes contlnued on a weekly basls when Covid regulations permitted. Provided facilities for continued use by Ioc81 Playgroup and Afterschool Club,. Galbally Pearses GAC. Cannyman Community Arts., Galbally Country Club; Galbally Parent and Toddler., Galbally Youth Club, Contlnued fundraising io ensure that the organlsalion ram8ins sustalnable and to facilitate all necess8ry malntenance and upkeep of Galbally Communlty Centre, Flnanclal review The financial statements for the year were presented at the AGM and accepted and approved by the trustees. Brian Robinson Accountancy Ltd has carrled out a review of these accounts and has completed an Independent examiner's report on the accounts. The financial performance was In line with the trustees, expectations and the charitable company remains In a sound financial position at the year end. The results for the year are set out in detail on pages 7 to 19. These show an overall deficit for the year of £18,003. At 31 August 2022, the net assets of the charitable company, includlng property, amounled to £620,500. The net current assets amounted to £114.007. The truslees can confirm that the charity does not hold any funds Ihat were materially in deficit at 31 August 2022.
Galbally Youth & Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 August 2022 The trustees, annual report and the strategic report were approved on 30 May 2023 and signed on behalf of the board of trustees by: Mr Michael O'Hagan Director
Galbally Youth & Community Association, Company Limited by Guarantee Independent Examiner's Report to the Trustees of Galbally Youth & Communlty Association Year ended 31 August 2022 I report to the trustees on my examinatlon of the financial statements of Galbally Youth & Communlty Association {'the charity,) for the year ended 31 Augusl 2022. Responslbllltles and basis of report As the trustees of tha company (and also Ils directors for the purposes of company law) you are responsible for tho preparatlon of the financial statements In accordance wlth the r8quirements of Charlties Act (Northern Ireland) 2008 (the '2008 Act,) and the Companles Act 2006 ('the 2006 Act'>. You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen Instead to have an independent examlnation. Havlng satisfied myself that Ihe accounts of the company are not required to be auditod under Part 16 of the 2006 Act and are ellgible for independent examlnation, I report in respect of my examination of the charlty's flnancial statements as carried out under section 65 of Ihe 2008 Act. In carrylng out my examinallon I have followed the general Direction8 given by the Charity Commission for Northern Ireland under sectlon 65(9)(bl of the 2008 Act. Independent examlner's statement I have completed my examlnation. I confirm that no matters hav8 come to my atlontion in connectlon with my examination givlng me cause to believe that in any materlal respect: accountlng records were not kept In respect of the charity as required by section 386 of the 2006 Act. or the financial statement8 do not accord with those record8. or Ihe financial statements do not comply with the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement th8t the accounts glve a 'true and fair, view whlch Is nol a matter consldered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and prlnclples of the Statement of Recommended Practlce for accounting and reporting by charities appllcable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102).
Galbally Youth & Community Association Company Llmlted by Guarantee Independent Examiner's Report to the Trustees of Galbally Youth & Community Association (contlnued) Year ended 31 August 2022 I ccnflrm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounls to be reached. n Robinson Accountancy Ltd Independent Examlner 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP 30 May 2023
Galbally Youth & Community Associatiort Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 August 2022 2022 Restricted funds Total funds Unrestricted funds Note Income and endowments Donations and legacies Charitable aotivities 43,575 45,088 88,663 101,846 145,421 45,088 Total Income 101,846 190,509 Expendlture Expenditure on charltable activities Total expendlture 77,311 77,311 131.201 208,512 208,512 131,201 Net (oxpandlture)Ilncome and net movament in funds 11,352 {29,355) (18,003) Reconclllatlon of funds Total funds brought forward Total funds carrled fOard 92,621 103,973 545,882 516,527 638,503 620,500 The slatement of financial acllvltles Includes all galns and losses recognlsed In the year, All income and expenditure derive from continuing aclivities, The notos on pages 10 to 17 form part of these financial statements.
Galbally Youth & Community Associatlon Company Limited by Guarantee Statement of Financial Position 31 August 2022 2022 Note Fixed assets Tanglble fixed assets 14 1,002,585 Currenl assets Debtors Cash al bank and in hand 15 34,118 118,481 152,599 Creditors: amounts falling due withln one year Net curront a8Sgts 38,592 114,007 Total assets le88 current liabilitles 1,116,592 Creditors,. amounts falling due after more than one year Net a88ets 17 496,092 620,500 Funds of the charlty Restricted funds Unrestricted funds 516,527 103,973 620,500 Total charlty funds 19 For the year ending 31 August 2022 the charity was enlitled to exemption from audit under section 477 of the Companles Act 2006 relating to small Companies. Directors, responsibllitios: The members have not requlred the company to obtain an audit of ils flnanclal statements for the year In question In accordance with section 476; The dlrectors acknowledge their responsibillties for complying wlth the requlrements of the Act wllh respect to accounting records and the preparatlon of financial slalements. These flnancial statements have been prepared In accordance with the provlslons appll¢able to ompanies subject to the small companles, regime. The statement of financial position continues on the following page. The notes on pagos 10 to 17 form part of these flnancial statements.
Galbally Youth & Community Association Company Limited by Guarantee Statement of Financial Position (continuedj 31 August 2022 These financial statements were approved by the board of trustees and authorised for issue on 30 May 2023. and are signed on behalf of the board by.. Mr Michael O'Hagan Director The notes on pag68 10 to 17 form part of these flnancial statements.
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2022 General information Th8 charity Is a public benefit entlty and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the regisl8red offlc8 is 36 Lurgylea Road, Galbally, Dungannon, BT70 2NX, Tyron8. Statement of compllance These financial statements have been prepared in compliance with FRS 1Q2, 'The Flnanclal Reporting Standard applS¢able in the UK and the Republlc of Ireland,, the Statement of Recommended Practice appllcabla to charitles preparlng thelr accounts in accordance wlth the Financlal Reporting Standard appllcable in the UK and Republlc of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Companles Act 2006. Accountlng pollcles Ba819 of preparation The financlal statements have been prepared on Ihe hlstorlcal cost b8sS5, as modlfled by the revaluatlon of certaln fi nancial assets and liabilities 8nd Investment properties measured at fair value through Income or expendituro. The financlal statements are prepared in sterling, whlch Is tho functlonal currency of the entity. Golng concern There are no material uncertainties about the charlly's ability to conllnue. Judgements and key sources of e8tlmatlon unGertalnty The preparation of the financi81 statements requlres management to make judgements, estimales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experlence and olher factors, Including expectations of future events thal are believed to be reasonable under the circumstances. Fund accounting Unrestrlcted funds are available for use at the éiscrelion of the trustees lo further any of the charitvs purp08es, Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restrlcted funds are subjected to reslrlctlons on their expenditure declared by the donor or Ihrough the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or endowment ftjnds. 10
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2022 Accountlng pollclos (contlnu¢dJ Incoming resources All incoming resources are included in the statement of financial aclivit16s when entltlemenl has pasyed to the charily., it is probable that the economic benefits associated with the transactlon will flow to the charity and the amount can be rellab1y measured. The followlng speclflc policies are applied lo parlicular categorles of income.. income from donations or grants is recognised when there is evldence of entitlement lo the glfl, recelpt Is probable and Its amount can be measured rellably. legacy income is recognised when rec61pt 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 facillties and services are recognlsed In the 8ccounts when received If the value c8n be reliably measured. No amounts are Included for the contrlbutlon of general volunteers. income from contracts for the supply of Servlces is recognised with the dellvery of the contracted service. Thls is dassified as unrestrlcted funds unless there is a contractual requirement for It to be spent on a particular purpose and returned If unspent, In whlch case 11 may be regarded as restrlcted. Rèsources expended Expendlture Is recognised on an accruals basis as 8 liability Is Incurred. Expendlture Includes Sny VAT which cannot be fully recovered, and is classrfied under haadlngs of the statement of flnancial activitles to whlch It relates,. expenditure on raislng funds Includes the costs of all fundralslng actlvltles, events, non-charitable tradlng activities, and the sale of donated goods. expendlture on charltable actlvllles Includes all costs incurred by a charity in undertaking activities thal 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 actlvlties. other expenditure Includes all expenditure that is nelther related to ralslng 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 altributable to a single activity are allocaled dlreclly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and conslstent basis. Tanglble assets Tangible assets are inilially recorded at cost, and subsequently staled at cost less any accumulated depreciation and impairment losses, Any tangib58 assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. 11
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 August 2022 Accountlng pollcle8 (contlnued) Tangiblo assets (contlnuod) An increase in the carrying amount of an asset as a result of a revaluatlon, Is recognlsed In other recognised gains and losses, unless it reverses a charge for Impairment that has previously been recognised as expendilure within the statement of financlal activities. A decrease In the carrying amount of an asset as a result of revaluation, is recognlsed In other recognlsed galns and losses, except to which it offsets any previous revaluation gain, In which case the loss Is shown withln other recognised gains and losses on the statement of financial activitles, Depreclatlon 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 a88et as follows,, Freehold property Fixfures and fittings 2 % straight line 150/0 reduGing balance Impalrm&nt of flxed assets A review for indicators of impairment is carried out at each reportlng date, wlth the recoverable amounl being estimated where such indlcators exlsl. Where the carrylng value exceeds the recoverable amount, the asset is impalr6d accordingly. Prlor Imp8lrment8 are also revlewed for posslble reversal at each reporting date, For the purp0888 of Impairmenl t8stlng, when it is not possible to estimate the recoverable amount of an Indlvidual asset, an estlmate 18 made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest Identifiable group of assets that includes the asset and generates ¢ash inflows that 18rgely independent of the cash inflows from other assets or groups of assets. For impairment le8ting of goodwill, the goodwlll acquired in a business combination is, from the 8cqulsltion date, allocated to each of the cash-generating unils that are expected to benefit from the synergies of the combination, irrespectlve of whether other assets or liabilities of the charity are assigned to those units. Government grants Government granls gre recognised at the falr value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charlty will comply with the condilions attaching to them and the grants will be recelved. Where the grant does not impose specified future performance-related conditlons on the recipient, it is recognised in Income when the grant proceeds are received or receivable. Vvhere the grant does Impose specifled future performance-related conditions on the reciplent, it Is recognised in income only when the performance-related condltions have been met. Where grants received are prior to satlsfying the revenue recognitlon criteria, they are recognised as a liability. 12
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2022 Accountlng pollcle8 {contlnu•d) Financlal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognlsed at the amount recelvable or payable Including any related transaction costs. Current assets and current liabilitles are subsequently measured at the cash or other consideration expected to be paid or received and not discount6d. Debt instruments are subsequently measured at amortised cost, Where Investments In Shares are publicly traded or their fair value can otherwise be measured reliably, tho Investment Is subsequently measured at fair value with changes In fair value recognlsed in income and expenditure. All other such Investments are subsequently measured at cost less impairment. Other financial Instruments, includlng derivatives, are Inltlally recognlsed at fair value, unless payment for an asset is deferred beyond normal buslness terms or flnanced at a rale of Interest that is not a market rate, in which case the asset is measur6d al the present value of the future payment8 discounted at a market r8te of interest for a slmilar debt Instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financlal activities, wllh the exception of hedging instruments In a designated hedging relationship. Flnancial assets that are measured at cost or amorllsed cost are reviewed for objective ovldence of impairment at the end of each reportlng dale. If there Is objective evidence of impalrment, an impairment loss Is recognised under the appropriate headlng In the statement of financial actlvit5es In which the inltial galn was recognlsed. For all equlty Instruments regardless of slgnlficance, and other financlal assets that are Indlvidually signifScant, th6so are assessed indlvldually for impalrment. Other financlal assets are either assessed Indlvldually or grouped on the basis of similar credit rlsk char8cterlstlC8. Any reversals of Impalrment are recognised immedlately, to the extent that the reversal does not result in a carrying amounl of the financial asset that exceeds what the carylng amount would have been had the Impairment not prevlously been recognlsed. Llmlted by guarant80 The company Is Slmited by guarantee and does not have a share capital. 13
Galbally Youth & Community Associatlon Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2022 Donatlons and legacles Unr8Strlcted Funds Restricted Total Funds Funds 2022 Donatlons Donalions Gift Aid Tax Reclaim 17,408 4,071 17,408 4,071 Grants Grants recelvable- 5FI Youlh Program Grants recelvable- The Executlve Office Funding Grants recelvable- EducatSon Authorlty Grants rece5vable- Community FOUndaOn Nl Grants recelvable - E)ungannon Distrlct Councll Grants receivable - Ofgem (RHI) Grants receivable type 10 Grants receivable- Other 84,967 84,967 5,400 5,819 5,400 5,819 9,000 1,262 5,660 11,834 145,421 9,000 1,262 5.660 11,834 43,575 101,846 Charitable actlvltle8 Unrestricted Total Funds Fund8 2022 Charitable activilies - functions and fundraising 45,088 45,088 Other Income Restrlcted Total Funds Funds 2022 £0 £0 Expendlture on charltable aclivitles by fund lype Unreslrlcted Funds Restricted Total Funds Funds 2022 Charltable activities 77,311 131,201 208,512 Expondlturé on charltable actlvltlos by acllvlty type Actlvitles undertaken Total funds direclly 2022 Charitable actlvltles 208,512 208.512 14
Galbally Youth & Community Association Company Llmited by Guarantee Notes to the Financial Statements fcontlnuedj Year onded 31 August 2022 10. Net {exponditure)lincome Net {expenditure)lincome is stated after chargingl{crediling).' 2022 Depreciation of tangible fixed assets 43,054 11. Independent examlnation fees 2022 Fees payable to the independent examlner for: Independent examination of the financial statements 950 12. Staff costs The average head count of employees during the year was 4. The average number of full-tlme equivalent employoes during the year is an81ysed as follows., 2022 No. Number of staff - aémin and project delivery No employee recelved employee benefits of more than £60,000 during the year (2021,. Nil). 13. Trusteo remunerallon and expense8 No remuneration or other benefits from employmenl with the charlty or a related entity were received by the trustees. 14. Tanglble fixed assets Freehold Fixtures and property fittlngs Total Cost At 1 September 2021 Additions 1,488,353 343.660 6,760 350,420 1,832,013 6,780 At 31 August 2022 Depreclation At 1 September 2021 Charge for the year At 31 August 2022 Carrylng amount At 31 August 2022 1,488,353 1,838,773 531,297 29,767 561,064 261,837 13,287 793,134 43,054 275,124 836,188 927,289 75.296 1,002,585 15
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (Gontlnu8d) Year ended 31 August 2022 15. Debtors 2022 Prepaymenls and accrued income Other debtors 29,118 5,000 34,118 16. Credltors: amount8 falllng due within one year 2022 Accruals and deferred Income Other creditors 9.549 29,043 38,592 17. Creditors: amount8 falling due aftar more than one yoar 2022 Accruals and deferred income 496,092 18. Govarnment grant8 The amounts recognised in the flnancial statements for government grants are as follows: 2022 Recognised in cred itors., Deferred government grants due after more than one year 496,092 19. Analy818 of charltabla funds Unrestrlcted funds At 1 September 2021 At 31 August 2022 Income Expenditure General funds 92,621 88,663 (77,311) 103,973 Restrlcted f und8 At 1 September 2021 At 31 August 2022 Income Expenditure Restricted Funds 545,882 1D1,846 1131,201) 516,527 16
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2022 20. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater th8n 1 ye8r Net assets 1,002,585 1,002,585 25,494 152,599 (15,460) (38,592) (496,092) {496,0921 516,527 620,500 127,105 (23,1321 103,973 17
Galbally Youth & Community Association Company Limited by Guarantee Management Information Year ended 31 August 2022 The following pages do not fonn part of the financial 8tatemont8. 18
Galbally Youth & Community Association Company Limited by Guarantee Detailed Statement of Flnancial Activitles Year ended 31 August 2022 2022 Income and endowment8 Donatlons and Icgaclos Donatlons Glfl Ald Tax Reclalm Grants receivable - IFI Youth Program Grants receivable - Education Authority Grants receivable - Community Foundallon Nl Grants receivable - Dun9annon Distrlct Councll Grants receivable - Ofgem (RHI) Grants receivable - Public Health Agency Grants receivable - Other 17,408 4,071 84,967 5,4DO 5,819 9.000 1.262 5,660 11,834 145,421 Charltable activities Charilable actlvities functlons and fundraislng 45,088 Total income 190,509 Expendlture Expendlture on charitable actlvlties Event cost8 and programme costs Wages and salaries Water rates Light and heat Repairs and maintenance Insurance Legal and professlonal fees Telephone Stationery and advertising Computer costs Depreclation Grants re1Vable- amortisatlon Bank charges General expenses 83,898 50,610 1,469 28,859 9,426 4,614 1,496 836 1,696 144 43.054 (19,538) 802 1.346 208,512 Total expendlture on charitabla actlvltlas 208,512 Net (expenditure}lincome (18,003)