Registration number N1033560 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Company limited by guarantee Annual, report and financial statements for the year ended 31 March 2024 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Reference and Administrative Details Trustees Louise Togneri, Chairperson Leanne Brown Colin Foote Valerie Goodchild Robin Mcclelland, Vice-chairperson Anne McKenna, Treasurer Aaron Mulholland Vivienne Beck Gavin North John Coley Peter Gamble Susan McKee Secretary Leanne Brown Company number N1033560 Charity number 101425 Registered office Hamilton Road Community Hub 39A Hamilton Road Bangor Co Down BT20 4LF Auditors Mccreery Turkington Stockman LTD l Lanyon Quay Bclfast BTI 3LG Bankers Danske Bank 77 Main Street Bangor BT20 SAF Solicitors Mccoubrey Hinds 61 Main Street Bangor Co Down BT20 SAF COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Contents Page Trustees" report Auditors, report Statement of Financial Activities Balance sheet io Cash flow slatcment 11 Notes to the financial statements 12-19 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 The Trustees present their report with the audited fmancial statements for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Reconunended Practice applicable to Charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019" Management Structure Community Advice Ards and North Down Ès an independent local Charity, rl￿ by local people for the benefit of local peoplc. CAAND was fonnerly Citizens Advice Ards and North Down and part of the UK wide Cit17,ens Advice service. The Citizens Advice brand was withdrawn from Northern Ireland in 2018 requiring implementation of the name change to Comn]unity Advice Ards and North Down (CAAND) with effect from January 2019. CAAND is a member of AdviceNI the independent advice network. CAAND subscribes fully to AdviceNI embership criteria which include the requirements to bc independent of central or local governtnent control. non-profit making, providing advice free and accountable to the community. CAAND ts gov¢med by its board of trustees, which is drawn from the local community. The members are harity trustees and company directors who are collcctively responsibl¢ for the governance, including setting an overall vision and making strategic decisions. The board ensures there is cffectiv¢ planning, financial management and control plus compliance with charity law/company law and other relevant Icgislation. ITR practice, day-to-day managem¢nt Rs delegated to a manager who is also responsible for quality and service delivery.The board holds staff accountablc while carying ultimate responsibility for the activities of the organksation. Trustee Board Truste¢5 ar¢ ¢leKted at the Annual General Meeting. Officers arc ¢lected by the trustees at the first meeting after the AGM. The board nonnally meets monthly throughout each year. The board may delegate any of thetr powers and duties to a sub-committee comprising at least threc Board m¢mb¢rs; there are three sub-committees within the board dcaling with Finance. Planning and Staffing matters. The chair of the board is ex officio on all committces and th¢ managers act as facilitators. CAAND aims to ensure the members of thc trustee board reflect the local community and trustees are provided with appropriate training as required. Risk Assessment CAAND undertakes timely risk assessments and the results ar¢ used to inforni financial and business planning for contingency Page I COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Purpose and Aims l. To ensure that individuals do not suffer through.. lack of knowledge of their rights and responsibilities. lack of knowledge of service available to them. an inability to express their needs effectively. 2. To exercise a responsible intluence on the development of social policies and services both locally and nationally. CAAND aims to achieve its purpose by: providing free, confidential, independent advice and assistance for the people in the conmiunity, regardless of religion, race, sex, di￿>abIlity or sexuality. contributing to the dcvelopment of social policy from the expericncc of working with clients. managing operations within availabEe funding and in compliance with rcgulatory, statutory and AdviceNI membership requirements , developing its staff and systems to respond to busincss needs, arranging appropriate training for volunteers, staff and trustees so as to ensure the delivery of quality services to clients- making people aware of the work of CAAND; working effectively with its main funder. Ards and North Down Borough Council, to maintain thc efficiency. effectiveness and economy of its service delivery. networking wÈthin AdviceNI and similar organisations in Northern Ireland. Services provided CAAND'S core contract is with Ards and North Down Borough Council and provides a general advice service through an appointm¢nt and drop-in service, plus telephone advic¢ from offices in Bangor, Newtownards and Holywood. Weekly advice sessions are also available at 10 outreach advice clinics. to gkve citizens throughout the Borough Council's geographkc area access to CAAND'S services. Other services available include Spccialist Debt Advice (funded by Ards & North Down Borough Council ore funding) and Tribunal represcntation (social becurity)- Additional Advice Projects CAAND provides additional advice services under a number of other funded projects including Wclfare Refonn. Debt Action. Advocacy Representation (funded by The National Lottery) and Macmillan Cancer Care advice servi¢cs based in the Ulster Hospital, Dundonald. In th¢ 2023124 year, across all projects, CAAND provided advice, help and support to over l 0,000 people, dealing with almost 30.000 issues. The total income generated for our client5 was over £4.1 million. Page 2 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Public Benefit Statement The trustees confirn] that they have complied with their duty as prescribed by section 4 of the Charities Act (Northern-Ireland) 2008 to have due regard to the Charity Commission for Northern Ireland public benefit guidance. CAAND records client statistics relating to disability and ethnicity in order to assist identification of under use by client groups. Posters stating the service's commitment to equality, diversity and non-discrimination are displayed in public areas in the CAAND offices. Promotional material is prepared and distributed as widely as possible. CAAND has on display as many leaflets in many languages relating to benefits, services and employment. CAAND has an up to date child protection policy. Copies of CAAND'S Strategic Plan and Annual Operational Plan were available on request. Social Policy Throughout the 2023124 year, actions continued to achieve CAAND'S second purpose of cxercising a responsible influence on the devclopmcnt of social policies and services to improve the lives of people in the community. Drawing on the evidence of advisers, work in providing advice and helping people, CAAND prepared quarterly Social Policy reports to assist in raising awareness of evidence of shortcomings in laws, policies and public services. These rcports wer¢ shared wÈth MPS, MLAS and Councillors and provided to the regional organisation Advic¢ NI to support lobbying on social policy issues. Financial Review CAAND'S funding contract wÉth the Ards and North Down Borough Council provided core funding for the three-year period from l April 2021 plus options for th¢ annual renewal of the contract to March 2026. As well as this core fimding, other sources of income for the 2023124year included: . Funding from MacmilEan Care for the advice project based Én the Ulster Hospital Funding from the D¢partment of Communities for employmcnt of advisers to meet advice demands and assist with appeals arising from Welfare Refom] Funding from the National Lottery for Advisors to represent clients at tribunal hearings FLU]ding provided vÈa Advice Nl for the Debt Action project Funding provided by The Headley Trust to allow for aD advisor to specifically adviser issues impacting on older people -Funding provid¢d by the Trussell Trust to facilitate an advisor being present at Bangor Foodbank The combination of the above ￿ndIng has enabled CAAND to finish the 2023124 year with a surplus of income over expenditure amounting to £54,622. Reserve5 Policy The ttustees reviewed and reaffirmed the policy to achieve reserves in unrestricted ￿ndS equivalent to up to six months of CAAND'S annual operating expenditure. Going Concern The trustees have a reasonable expectation that the organisation has adequate resources to continue in operational cxistence for the foreseeable future. In arriving at this conclusion, the year to date budgets for 2024125 and current cash position were reviewed. For this reason they continue to adopt the going concern basis in preparing the financial statements. Page 3 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Statement of Trustees, Responsibilities The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees, AnnuaR Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a truc and fair view of the state of affaii-s of the charitable company and of the incoming resources and applicalion of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the t￿SteeS are required to.. s¢l¢ct suitable accounting policies and then apply them consistcntly- observe the methods and princRples in the Charities SORP. make judgments and estimatcs that are reasonable and prudent; state whether applÈcabl¢ UK Accounting Stthdards have been followed, subject to any material departures disclosed and explained in the financial statcmcnts. prepare the financial statcments on the going concern basis unless it is inappropriate to presum¢ that the company will continu¢ in operation. The trustecs are responsible for keeping adequatc aocounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enablc them to ¢nsure that the financial statement5 comply with the Companies Act 2006. They are also iesponsibl¢ for safeguarding the assets of the charitablc company and hencc for taking reasonable steps for the prevention and detcction of fraud and other irregularities. Auditors The auditors are deemed to be reappointed Rn accordance with Section 487(2) of the Companies Act 2006. In so far as the trustees are aware". th¢r¢ is no relevant audit infonnation of which the charitable company's auditor is unaware. and the trustees have taken alE steps that they ought to have tak¢ll to make themselves aware of any relevant audit infonnation and to establish that the auditor is aware of that information. This report was approved by the Board on 15th October 2024 and signed on its behalf by Louise Togneri Trustee Page 4 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Independent auditors, report to the members of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Opinion We have audited the financial statements of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD for the year ended 31 March 2024 which comprise the Statement of Financial Activities the Balance Sheet, the Cash Flow Statement and notes to the f￿anCIal statements, including significant accounting policies.The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In oiir opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the Year then ended. have been properly prepared in accordance with UnÉted Kingdom Generally Accepted Accounting Practice. and - have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUK) (ISAS (UK)) and applicable law. Our rcsponsibilities under those standards are further described in thc Auditor's responsibilities for the audit of the financial stafrments section of our report. We indcpcndent of the charÈty in accordance with the ethical requircments that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilÈties in accordance with these requir¢ments. We believe that the audit evidence we have obtained is sufficient and appropriat¢ to provid¢ a basis for our opinion. Conclusions relating to going concern In audÈting the financial statements, we have concludcd that thc trustees, use of th¢ going concern basis of accounting in the preparation of the financial statements is appropriat¢. Based on the work w¢ have performed, we have not identified any material uncertainties relating to events or onditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at Icast twelvc months fr()m when the financial statements are authorised for issue. Howcv¢T, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that wcre reasonable at the tim¢ they were made, the absence of reference to a material uncertainty in this auditor's report is not a guarantee that the Company will continue in operation. Our responsibilities and the responsibilities of the trnstees with respcct to going concern are described in the relevant sections of this report. Other information The other infornwtion comprises the inforniatÈon included in the annual report, other than the accounts and our auditors report thereon. The trustees are responsible for the other Knfonnation. Our opinion on the accounts docs not cov¢r the other inforn]ation and we do not express any fonn of assurance conclusion thereon. In conncction with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other infonnation is matcrially inconsistent with the accounts or our knowledge obtained Èn the audit or othenvisc appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material misstatement in the accounts or a material misstatement of the other inforniation, If, based on the work we have perfornied, we conclude that there is a material misstatement of this other inforn]ation, w¢ are required to report that fact. We have nothing to report in this regard. Page 5 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Independent auditors, report to the members of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD continued Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the infonnation given in the trustees, Report, which includes the directors, report prepared for the purposes of company law, for the f￿anCIal year for which the financial statements are prepared is consistent with the financial statements. and the directors, report included within the trustees, report has been prepared in a¢¢ordan¢e with applicable legal requirements. Matters on which Ive are required to report by exception We have nothing to report in respect of the following matters in rclation to which the Companies Act 2006 requires us to report to you if, in our opinion.. the inforniation given in the financial statements is inconsistent in any material respect with the trustees, report; or sufficient accounting r¢¢ords hav¢ not been kept. or th¢ financial statements are not in agreemcnt with the accounting records. or we have not received all thc inforn]ation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of trustees, Responsibilities, the trustees, who are also the Directors of the charity for the purpose of company law, ar¢ r¢sponsible for the preparation of th¢ accounts dnd for being satisfied that thcy give a true and fair view, and for such internal control as th¢ committee detemiine is necessary to enable the prepdration of accounts that are free from matcrial misstatement, whether due to fraud or e￿or. In preparing the accounts, the trustees are responsAble for assessing the charity's ability to continue as a going concern, discEosing, as applicable. matters rclated to going concern and using the going conc¢rn basis of accounling unlcss th¢ trustees either intend to liquidate the charity or to cease operations, or have no realistic altcrnatkvc but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about wh¢theT the financial statements as a whole are free from material misstatement, whether du¢ to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detcct a material misstatement when it exists. Misstatements can ari5¢ from fraud or error and are considered maleTial if, individually or in the aggregate, they could reasonably be expected to influenc¢ the economic decisions of users taken on the basis of these financial statements. Page 6 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Extent to which the audit was capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outRined above, to detect mafrrial misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is detailed below: We identified the areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and risks of material misstatement due to fraud, using our understanding of the entity's industry, regulatory environment and other external factors and inquiry with the Trustees. In addition, our risk assessment proceduies in¢luded- inquiring with the TNstees as to tlie charities policies and procedures regarding compliance with laws and regulations and prevention and detection of fraud. inquiring whcther the Trustees have knowledge of any actual or suspected non-coinpliance with laws or regulations or alleged fraud- inspecting the charities regulatory and legal correspondence. and reading Board mtnutes. We discussed identified laws and regulations, fraud risk factors and the need to remain alert among the audit team. The charity is subject to laws and regulations that directly affect the financiaE statements charity and financial reportlng legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items, including assessing the financial statement disclosures and agr¢¢ing them to supporting documentation when necessary. The charity is subject to many other laws and regulations where the consequ¢nces of non-compliance could have a material effect on amounts or disclosurcs in the financial statements, for iustance through the imposition of fines or litigation. We identified the following areils as those most likcly to have such an ¢ffect'. health and safety. anti-bribery, employment law, environmental law. Auditing standards limit thc rcquired audit procedures to identify non-compliancc with thes¢ non-direct laws and regulations to inquiry of the Trustees and inspection of rcgulatory and legal co￿¢spOndenCe, if any. These limited proccdures did not identify actual or suspected non- compliance. We assessed events or conditions that could indicate an incentivc or pressure to commit fraud or provide an opportunity to commit fraud. As required by auditing standards, we performed procedures to address the risk of management ovcrridc of controls. On this audit we do not believe there is a fraud risk reRated to revenue recognition. We did not identify any additional fraud risks. In response to risk of fraud, we also perforn]ed procedures includTrng.' identifying joumal entries to test based on risk crit¢ria and comparing the identified entries to supporting documentation. evaluating the business purpose of significant unusual transactions. assessing significant accounting estimates for bias. and assessing the disclosures in the financÉal statemcnts. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatemcnts in the f￿anCIal statements, even though wc have properly planned and perfomied our audit in accordance with auditing standards. For example, the further removed non- compliance wkth laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less Likely the inherently limited procedures required by auditxng standards would identify it. Page 7 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD In addition, as with any audit, there remains a higher risk of non4letection of itregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all Eaws and regulations. A fijrther description of our responsibÈlities for the audit of the accounts is located on the Financial Reporting Council's website at.. http:/lwww.frc.org.uklauditors responsibilities. This description forms part of our auditor's report. The purpose of our audit work and to whom we owe our responsibilities This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are requircd to state to tem in an auditors, report and for no otheT puryose. To the ￿lIest extent pern]itted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have fomed. Richard Mcclay FCA (Senior Statutory Auditor) For and on behalf of Mccreery Turkington Stockman LTD l Lanyon Quay BELFAST BTI 3LG Chartered Accountants 15th October 2024 Page 8 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Statement of Financial Activities (Including Summary Income and Expenditure Account) for the year ended 31 March 2024 Unrestricted Restricted Funds Funds Total Total 2024 2024 2024 2023 Income from: Charitable activities Donations and legacies Investment Income Notes 307,880 220 1,833 506,903 814,783 220 1,833 529,278 385 580 Total incomRng resources 309,933 506,903 816,836 530,243 Expenditure on: Charitable activities (308,274) (453,940)(762,214) (660,877) Total resources expended (308,274) (453.940)(762,214) (660,877) Net income before transfers 1,659 52,963 54,622 (130,634) Net incoming resources 1,659 52,963 54,622 (130,634) Fund balances brought forward 280,189 15,025 295,214 425,848 Fund balances carried forward 281,848 67,988 349,836 295,214 All of the above results are derived from continuing gains and losses recognised in the year included above. The notes on pages 12 to 19 form an integral part of these financial statements. Page 9 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Balance sheet as at 31 March 2024 2024 2023 Notes Fixed assets TangibEe assets 12,678 15,704 Current assets Debtors Cash at bank and in hand 119,657 223,739 122,451 167,327 343,396 289,778 Creditors: amounts falling due within one year 10 (6,238) (10,268) Net current assets 337,158 279,510 Net assets 349,836 295,214 Capital and reserves Restricted funds Unrestrict¢d funds 11 li 67,988 281.848 15,025 280,189 Total funds 349,836 295,214 The financial statements wcrc approved by the Dkrectors on 15 Octobcr 2024 and signed and approvcd for issue on its bclialf by Louise Togneri Trustee The notes on pages 12 to 19 form an integral part of these financial statements. Page 10 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Cash flow statement for the year ended 31 March 2024 2024 2023 Cash generated from operations Net income / (expenditure) for the year Depreciation Decrease in debtors (Decrease) in creditors Investment income recognised in statement of financial activitkes 54,622 3,027 2,793 (4,030) (1,833) (130,634) 7,252 35,989 5,668 (580) Net cash inflow from operating activities 54,579 (82,305) Cash flow statement Net cash inflow from opcrating activities 54,579 (82,305) Cash flow from investing activities Interest Teceived 1,833 580 Increase in cash in the year 56.412 (81,725) Reconciliation of net cash flow to movement in net funds Increase in cash in the year Cash and cash equivalents at l April 2023 56,412 167,327 (81.725) 249,052 Cash and cash equivalents at 31 March 2024 223,739 167,327 Page 11 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Notes to the finaDei21 statements for the year ended 31 March 2024 Accounting policies Company information Community Advice Ards and North Down is a Cotnpany limited by guarantee, regtstered tn Northern Ireland. The addi.ess of the registered offIce is Hamilton Road Coinmunity Hub, 39A Hamilton road, Bangor, Co Down, BT20 4LF. Accounting convention The accounts have been prepared in accordance with the charity's Memorandum and ArtkcEes of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Prdctice applkcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablc in the UK and Republic of Ireland published in Octob¢r 2019" The charity is a Public Benefit Entity as defmed by FRS 102. The financial statements are prepared in sterling, which is the ￿nCtIOnal CU￿¢￿rY of the company. Monetary amounts in these financial statements are rounded to th¢ n¢ar¢st £. Going concern At thc time of approving the accounts the trustees have a reasonable ¢xp¢ctation that the charity has adequate resource5 to continue in opeiational existence for thc foreseeable futurc. Thus th¢ trustees continue to adopt the going concern basis of accounting in pr¢paring the financial statements. 1.3. Charitable funds Unrcstrict¢d funds are available for use at th¢ discretion of thc Trustc¢s in furtherancc of their charitable objectives unless the funds have been designated for other PUTposes. Restricted funds are subject to specific conditions by donors as to how they tnay be used. The purposes and uses of the restricted funds are set out in the notes to thc financial statements. 1.4. Incoming resources Income is recognised when the charity is legally entitled to it after any perfomiance conditions have been met, the amounts Can b¢ measured reliably, and it is probable that income will be received. Cash donations are recognis¢d on receipt. Other donations are recognised once the charity has been notified of the donation, unless pcrfonllance conditions require deferral of the amount. Income tax r¢coverable in relation to donations Teceived under Gift Aid or d¢eds of covenant IS Tecognised at the ttme of the donation. Legacies are recognised on receipt or otherwise if thc charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Inv¢stment income is rccognised once thc income and been declared and notified to bank accounts. 1.5. Resources expended All expenditure is accounted foi on an accruals basis. Expenditure is recognised where there is a legal or construclivc obligation to make paynents to third parties, it is probable that the settlement will be required, and the amount of th¢ obligation can be measured reliably. Page 12 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Notes to the financial statements for the year ended 31 Marcb 2024 continued 1.6. Tangible fixed assets and depreciation Tangible fixed assets are initially recorded at cost and subsequentEy stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impainnent losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at rates calculated to write off the cost less residual valu¢ of each asset over its expected usefiJl life, as follows: Land and buildings Fixtures, fittings and equipment l O /0 Straight Ilne 25 % reducing balance 1.7. Impairment of fixed assets Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estitnated, and compared to the canying amount. Where the carrying amount exceeds its r¢¢overable amount, an impaimient loss is recognised in surplus or deficit unless the asset is carried