Company registration number.. N162)538 Charity registration nuinber.. 102428 Ornieau Road Boxing Club Ltd (A company limited by guarantee) Annual Report and Ftnancial Statements for the Year Ended 31 March 2023 McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS
Ormeau Road Boxing Club Ltd Contents Reference and Adminisiraiive Details Trustees, Report 2to3 StateiT]ent of Trustees, Responsibilities Independent Exaininer's Report Sialeinent of Financial Activities Balance Sheet Notes to the Financial Statements 8t0 15
Ormeau Road Boxing Club Ltd Reference and Administrative Details Cliarity Registration Number 102428 Company Registration Number N1623538 The charity is incorporated in Northern Ireland. 469 Onneau Road BELFAST BT7 3GR Registered OlCe Independent Examiner Nicholas McKeague McKeague Morgai) & Company 27 College Gardens Belfast BT9 6BS Bankers First Trusi Bai)k (N l) Onmeau Road Branch 425 - 427 Ormeau Road Belfast County Anirim BT7 3GQ Page I
Ormeau Road Boxing Club Ltd Trustees, Report The Ii'ustees, who are director5 for the purposes of coinpany law, present the annual report togeiher with the financial statements of the charitable company for the year ended 31 March 2023. Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Truslees.. Mr John Toland Ms Teresa Doherty Mr Charles Toland Structurei governanee and management Niilure i)fgoveriiiiig cla£'uiiieiil The coinpany is governed by the Memoranduin and Articles of Association. Orguiil.%ffliloiiul Jfriiclure Thc chai'ily was incorporated on 20 Marcli 2014 under the Companies Act 2006, being a privaic company liiniled by guarantee not haviiig a share capital. Trustees are family and friends who have the necessary skills needed lo further advance the needs of the charity. None of the Trustees has any beneficial interest in the coinpany. All of tlie Trustees are members of the oinpaiiy and guarantee to contribute £ l in the event of a winding up. Objectives 8nd a¢tivities ObJeL'I.¥ Iiii(l llliiij The charity's objectives are specifically restricted to the following'.- (i) lo pi'ovide c)pportunilies for Ihe young people from the Ormeau Road and surrounding areas of South Belfast 10 participate in sport aiid physical activity nainely boxing; (li) lo pi'ovide oppoi1unilies for participation in sport and physical activilies to all regardless of sex, religion, ethnicity, age or ability., (iii) lo provide opportunilies for local people to volunteer within the club as adminislralors, coaches and ¢venl stewards. (iv} lo pi'ovide facilities appropi'iate for boxing and other physical fitness activit¢s which meel all relevant liealth and safely regulations., (v) lo deliver persoiii11 developinenl and training programmes for young people from the Ormeau Road and surrounding areas of Sount Belfasiihat are based upon their ne¢ds and interests Piibllc beiiefil The charity is continuing to progress and provide more opportunities to a wider range of meinbers in the surrounding South Belfast Area. There are currently 4 meinbei's who are County Antrim champions and 3 Ulster champions. Tlie Iruslees confirin Ilial they have complied with the requirements of the Charities Act to have due regard to tlie public benefit guidanc¢ issued by the Charity Cominission. Page 2
Ormcau Road Boxing Club Ltd Trustees, Report Fin2ncial review During the financial year the charity continued io raise funds via grant assislance and membership fees. The receipts and payments account sel out on page 6, reflect the activities undertaken by the charity in 2023. The cliarity had income of £1 0,328 and expenditure of £2,825 resulting in a surplus of £7,503. During the financial year the charity was donated 8 minibus valued al £2,500. This donation is included within the donation and legacies income for the year. The charity had reslricled reserves al 31 March 2023 of £5,000 and unrestricted reserves of £5,5 SMAII companies provisi report has been pre statement 'd in accordance with the sinall companies regime under the Companies Act 2006. The nnual eport was a roved by the trustees of the charity on 20 Deceinber 2023 and signed on its behalf by.. l)arles Toland Trustee Page 3
Ormcau Road Boxing Cliib Ltd Statement of Trustees, Responsibilities The trustees (who are also the directors of Onneau Road Boxing Club Ltd for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdoin Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland 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 true and fair view of the stale of affairs of tlie charitable coinpany and of the incoming resources and application of resource5, including ils incoine and expeiidilure, of the charitable coinpany for that period. In preparing these finaiicial slateinents, the trustees are required to.. select suitable accounliiig policies and apply them consistently. observe the methods and principles in the Charities SORP, make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards, comprising FRS 102 have been followed, subject to any malerial departures disclosed and explained in the financial statements; and prepai'e the financial statements on the going concern basis unless it is inappropriate to presume that the charitable compaiiy will continue in business. The Iruslees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any liine the financial position of the Chai'ilable coinpany and enable thein to eiisure Ihat the financial stateinenls coinply witli the C panies Act 2006. Th¢y are also responsibl¢ for safeguarding the asscts of the charitable compiiny aiid lienc I. takins7 reasonable steps for the prevenlion and detection of fralid and other irrebiularilies. Th¢ Iruslees are nsible for the maintenance and integrity of ihc corporate and financial inforination included oli the table conipany's website. Legislatioii governing tlie preparation and disseiniiialion of tiiiancial slaleiiie y differ from legislation in other jurisdictions. esp har tsin oved the trus es of the charity 011 20 December 2023 and signed on its behalf by: iarles Toland Page 4
Ormeau Road Boxing Club Ltd Independent Examiner's Report to the trustees of Ormeau Road Boxing Club Ltd ('the Company,) I report lo the charity trustees on my exainination of the accounts of the Company for the year ended 31 March 2023. Responsibilities and ba515 of report As the charity's Iruslees of Ormeau Road Boxing Clul) Ltd (and also its directors for the purposes of company law) you are responsible for the preparation ot the accounts in accordance with the requirements of the Coinpaiiies Act 2006 {'tlie 2006 Act,). Having satisfied myself Ihat the accounts of Orineau Road Boxing Club Ltd are not required to be audited under the 2006 Act and are eligible for independent exainination, il is Iny repoiisibil ily Io.. cxai)iiiie tlie accouiils under Section 65 of the Cl)arities Act (Noi1herii Ii'eland) 2008 ('Ihe Charities Act,). follow tl)e procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under Section 65{9)(b) of the Charities Act, and st<lte wh¢tl)cr particular Inallers have coine to my altentioii. Basis of ii)dependent examiner's report I liave examined your charity accoiints as required under Section 65 of the Charities Act and my examinaiion was cai'ried oul iii aLCOI'd<ince willi the general Dii'eclions givei) by Ilie Charily Coinmission for Northern Ii'eland ui)der Section 65{9)(b) of Ilic Charities Aci. The exaiiiinatioii included a I'evicw of tlie accounlingv records kept by Ihe chai'ily and a coinparisoii of any unusual iteins or disclosiires In the accounts. and seeking explanaiioi)s froim you as charity Iruslees concerning any such Inalters. My I'ole is lo stale wliether any material matters have conie lo niy iiiiei)lion giving nie cause to believe.. accoLiiiling? records w'ere not kept in respect of Onneau Road Boxing Club Lid as required by seciion 3 86 of Ilic 2006 Act. or 2. the accouiits do not accord with those records. or tlie a¢coun15 do iiol comply witl) Ilie accounlin&y requireinenls of sectioii 396 of the 2006 Act other than any r¢quii'cinenl that the accounts give a 'lrue aiid fair view, which is not a matter considered as part of an 11)depciidcnl ¢xaininalion,' or 4. the accounts have not beeii prepared in accordance with the methods and principles of the Slaleiment of Recomineiided Practice for accouiitii)g and reporting by charities applicable to charities preparing tl)eir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelai)d (FRS 102). I iidependent examiJier'5 StAtement I l)ave iio concerns aiid l)ave come across no other mallers in connection with the exainination lo whicl) attention should be drawn ii) this report in order to enable a proper underslanding of the accounts to be reached. Nicholas McKeague Insliiule of Chartered Accountants in Ireland Mckeague Morgan & Coinpany 27 College Gardens Belfiist BT9 6BS 20 December 2023 Page 5
Ormeau Road Boxing Club Ltd Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2023 Unrestricted Restricted Note Income from: Donations and legacies 10,328 10.328 Total income 10.328 10,328 Expenditu re on.. Chariiable activities (2,825) (2,825) Total expendilure (2,825) (2,825) Nel ii)come 7.503 7.503 Nel Inoveineni in funds 7,503 7,503 Reconciliation of funds Total funds brought forward (1,982 5,000 3,018 Total funds carried fonvard 12 5,521 Unrestrieted fuilds 5,000 Restricted fuiid5 10,.$21 Totdl 2022 Note Incnme and Endowments from: Donations and legacies 4,969 4,969 Total income 4,969 4.969 ExpLiiditure on: Charitable activities (10,711) (10,711) Total expenditure (10,711) (10,711) Net expenditure (5,742 (5,742) Nel Inovemeiil in funds (5,742) (5,742) Reconciliotion of funds Total funds brought forward 3,760 5,000 8,760 Total funds carried forward {1,982} 5,000 3,018 All of the charity's activities derive from conlinuing operations during the above two periods. The notes on pages 8 10 15 forni an integral part of these financial statements. Page 6
Ormeau Road Boxing Club Ltd (Registration number: N1623538) Balance Sheet as at 31 March 2023 2023 2022 Notc Fixed a.ssets Tangible assets 2,000 Current assets Cash at bank and in hand 10 10,553 4,368 Creditors: Amounts falling due wlihin one year Net cu rrenl assets (2,032) (1,350) 8,521 3,018 Net assets 10.521 3,018 Funds ofthe charity: Restricted iiicome funds Restricied funds 5,000 5,000 Unrestricted income funds Unreslricled funds 5,521 (1,982) Total funds 12 10.521 3,018 Foi. 11)e fii)ai)cial year ending 31 Mi arch 2023 the charily was entitled lo exemption from audit under section 477 of the Coinpanies Act 2006 relating to small companies. Directors, responsibiliti¢s: The Ineinber ave not required the charity to obtain an audit of its accounts for the year in questioii in accordance section 476; and iiowledge their respoiisibililies for complyingy witli the requirements of the Act wilh respect rds and the preparation of accounts. The director to accountin ac re financial st te eiiiber 2023 ai) enis on pages 6 10 15 were approved by the trusle¢s, and authorised for issijc on 20 siLyI)ed 01) their behalf by.. rles Toland Trustee The notes on pages 8 to 15 forni an inteoral pait of th¢se financidl statements. Page 7
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 I Charity status The charity is limiled by guarantee, incorporated in Northern Ireland. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £ I towards the assets of the charity in the event of liquidation. The address of its registered office is.. 469 Orineau Road BELFAST BT7 3GR These financial statements were authorised for issue by ihe trustees on 20 December 2023. 2 Accounting polieies Summa ry of significai)t Accounting policies and key accountiiig estimales The pi'incipal accouiiiiiig policies applied in Ilie pi'epai'atioii of tliese financial stal¢ments are set out below. These policies have been consistently applied lo all the yeai's presented, unless otherwise staled. Statement of compliance Tlie tinancial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Reconimended Practice (applicable to charili¢s preparing their accounts in accordance with the Fiiiancial Reportiiig Slandard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Cl)ai'ilies SORP (I", RS 102)), the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (rRS 102) and the Coinpanies Act 2006. Basis of preparation Orineau Road Boxing Club Ltd Ineets the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al hislorical cost or transaction value unless otherwise stated in ihe relevant accounting, policy notes. Going concern I"hc financial statenents have been prepared on a going concern basis, The Iruslee5 assess whether ihe use of going concem is appropriate i.e. whether there are any material lincei1aiiilie5 related to events or conditions that Inay cast sigynificant doubt on the ability of the charity lo continue as a going conc¢rn. The trustees make this assessment in respect of a period of one y¢ar from the dale of approval of the financial statements. Income and endowments All income is recognised once the chai'ity has entitleinent to tlie inconie, il is probable that the incoine will be received and the amount of the income receivable can b¢ Ineasur¢d reliably. Page 8
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 Doiiali0115 aiiil legacie5 Donations are recognised when the charity has been notified in writing of both the amount and settlement dale. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is ¢ntiiled to the funds, the income is deferred and not recognised until either those Conditions are fully met, or the fulfilmenl of those conditions is wholly within Ihe conlrol of the charity and it is probable that tliese conditions will be fulfilled in the reporting period. Expenditure All expendilure is recognised once there is a legal or constructive obliLJalion to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate siini lar costs lo that calegFOry'. Where costs cannot be directly alti'ibiited lo particular headingJs they have been allocated on a basis consistent with th¢ use of resource5, Wlth centi'al staff costs al located on the basis of lime spent, and depi'e¢ialion charges allocaled on the portion of the asset's use. Other support costs are allocated based on the spread of slafT costs. Cliiirlliible acliiiilie, Charitable expenditure comprises tliose cosis incurred by the charity in the delivery of its activities and scrvices for ils beiieficiaries. li includes both costs that cali be allocated directly to such activilies and tl)ose costs of an indirecl iiature necessary to support them. Support costs Suppoil costs include central function5 and have been allocated lo activity ¢osl categories on a basis consisteiil witli the use of resources, for exaniple, allocating property Losts by floor areas, or per capila, staff costs by tl)e time spent and oKher costs by their usage. Governance costs Th¢se include the costs attributable lo the cl)ariiy's compliance with constilulioiial and statutory requirenients, including audit, strategic manage1ent and trustees meetings and reimbursed expenses. Taxation Tli¢ ¢liarity is considei'ed to pass the tests sel out in Paragraph I Schedule 6 of the Finance Aci 2010 and therefore il meets the definition of a charitable coinpany for UK corporation tax purposes. Accordingly, the charity is potentially exeimpt from laxalion in respect of income or capital gains received within calegories covered by Chapter 3 Part I l of the Coi'poration Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992. to th¢ ¢xl¢nt thal such incoine or gain5 are applied exclusively to charitable purposes. Tangible fixed assets Tangible assets are stated in the balance sheet at cost. less any subsequent accumulated depreciation and subsequent accuinulaled impainnent losses. Depreciatioii and amortisatioii Depreciation is cliargcd so as to writc off the cosl of assels, other than land and properties under construction over tl)eir estimated useful lives, as follows: Asset class Motor vehicles Depreciation method and rate 200/0 Straight line Page 9
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 Cash and cash equ ivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borroivings Inlerest-bearing borrowings are iiiilially recorded at fair value. net of transaction costs. Interest-bearing borrowings are subsequently carried al amortised cost, with the difference between the proceeds, nel of tra115action costs, and tlie amount due on redempiion being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of ihe effective interest method and is included in interest payable and siini lar charges. Borrowiiigs are classified as current liabilities unless Ihe charity has an uncondiiional rioht to defer settlement of Il)e liability for at leasl Iwelve months after the reporting date. Fund strueture Unrcsli'icled iiicoine funds are general funds that are available for use al the trustees discretion in furtherance of the objectives of11)e charity. Restricted incoine funds are those donated for use in a particular area or for specific purposes, the use of which is restricted lo that area oi. purpose. Finxncial instruments Cl(i.s,slJ7culloii Financial assets and financial liabilities are recognised when the charity becom¥S a party lo the contractual provisions of the instrumenl, Financial liabilities aiid equily instruments are classified according lo the substance of the contractual arraiigeinenls cntci'ed iiilo. An equiiy instruinent is any contract that evidences a residual interest in the assets of the charity after dcductiiig al l of its liabilities. Page 10
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for Ihe Year Ended 31 March 2023 Recogiiliioll (iiicl nieasurenieiil All financial assels and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is i)onnally the transaction price excluding transaction costs), unless the arrangement constilules a financing transaclion. If an arrangeinei)t constitutes a financing transaction, the financial asset or financial liability is measured at Ihe present value of the future paynienls discounted at a market rate of interest for a similar debt inslruinent. Financial assets and liabilities are only offsel in the statement of financial position M,hen, and only when Ihere exists a legally enforceable right to set off Il)e r¢cognised amounts and the charity intend5 eiiher lo settle on a net basis, or to realise the asset and seiile the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of ihe risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, bul not all, significant risks and rewards of ownership, has transferred control of the asset lo another party. Finaiicial liabilities are derecognised only when the obligation specified in lh¢ contract is discharged, cancelled or expii'es. liive.glnieiils Iiivesliiien15 in non-convertible preference shares and non-pultable ordinary or preference shares (where shares are publ icly traded or their fair value is reliably measurable) are Incasured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Inveslinents in subsidiaries and associates are measured al cost less impairnient. For investments in subsidiaries acquired for consideration including tlie issue of shares qualifying for merger relief, cost is measured by refcrence lo the noininal value of the shar¢s issued plus fair value of other consideration. Any premium is ignored, DerlviillveJ7iiffiicl(111113'1runienls Tlie charity uses derivative fit)ancial instrumeiits to reduce exposure lo foreign exchange risk and intercsi rate Inovements. The charity does not hold or issue derivative financial inslrumenls for speculative purposes. Derivatives are initially recogni5ed at fair value ai the dale a derivative contract is entered into and are subsequently remeasured to Iheir fair value at each reporting date. The resulting gain or loss is recognised in stateinent of financial activities iinmediately unless the derivative is designated and effective as a hedging inslriimenl, in which event the tiining ot the recogi)ition in stateinent of financial activities depends on the nature of th¢ h¢d&ie relalionsliip. Fair viilue mea.furenieiif Thc best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is iiot active and recent transactions of an identical asset on their own are nol a good estimate of fair value, Ihe fair value is eslimated by using a valuation techriique. Pagell
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 3 Income from donations and legacies Unrestricted funds Total 2023 Total 2022 General Donations and legacies; Donations fyoim individuals Grants received Membership fees 2,500 6,828 1,000 2,500 6,828 1,000 4,969 10,328 10,328 4,969 4 Expenditure on Cha ritable 8ctivi¢ies Unrestricted funds Total 2023 Total 2022 General Note Depreciation, atnortisalion and other siinilar costs Governaiice costs Premises expenses Administration expens¢5 Equipinent Molor expenses 500 1,032 500 1,032 3,078 6,000 633 1,000 600 693 600 693 2,825 2,825 10,711 S Analysi5 of governance and support costs Governance costs Unrestricted funds GenerAI Total 2023 Total 2022 Independent examiner fees Examination of the financial statenients Allocated support costs 960 72 960 72 780 2,298 1,032 1,032 3,078 Page 12
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 6 Trustees reJlluneratioD and ¢xpens¢s No trustees, nor any persons connected with ihein, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 7 Independenl examiner's remuneration 2023 2022 Exaniination of the financial stateinents 960 780 8 Taxation The charity is a registered charity and is therefore exempt from taxation. 9 Tangible fixed assets Motor vehlcl¢s Total Cost Additions 2,500 2,500 At J l March 2023 2,500 2,500 Depreciation Charuje for the year 500 500 Al 31 March 2023 500 500 Net book value Ai 31 March 2023 2.000 2,000 10 Cash and cash equivalents 2023 2022 Cash at bank 10,553 4.368 Creditors: amount5 falling due within on¢ year 2023 2022 Trustees current accounts Other creditors Accruals 473 473 277 600 1,559 2,032 1,350 Page 13
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 12 Funds Balance at I April 2022 Incoming resources Resources expended Balance at 31 March 2023 Un restrieted General (1,982) 10,328 (2,825) 5,521 Restricted 5,000 5,000 Total funds 3,018 10,328 (2,825) 10,521 BAIAnce at I April 2021 Ineoming resourees Resources expended Balftnce at 31 March 2022 Uiirestrieted General 3.760 4,969 (10,711) (1,982) Restrieled 5.000 5,000 Tota I funds 8,760 4,969 (10,711) 3,018 13 Analysis of net assets between funds Unreslrictcd funds General Total funds at 31 M#reh 2023 Current assets Curreni liabilities 10,553 (2,032) 10,553 (2,032) Total nei assets 8,521 8,521 Un restrieted funds General Total funds at 31 March 2022 Current assets Current liabil ities 4,368 (1,350) 4,368 (I,J50) Total nel assets 3,018 3,018 Page 14
Ormeau Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 14 Analysis of nei funds At l April 2022 Financing cash flows At31 March 2023 Cash at bank and in hand 4,368 6,185 10,553 Net debt 4,368 At l April 2021 6,185 Finllneing cash flows 10,553 At 31 March 2022 Cash at bank and iii hand 10,110 (5,742) 4.368 Net debt 10,110 (5,742 4,368 15 Related party transactions There were no related party transactions in the year. Page 15
Ormeau Road Boxing Club Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2023 Total 2023 Total 2022 Income and Endowments from: Donations and legacies (analysed below) 10.328 4,969 Total income 10,328 4,969 Expeiiditure on". Chai'ilable activities {analysed below) (2,825) Total expenditure (2,825) (10,711) Net incomel(expendilure) Nel movemenl in funds 7,503 (5,742) 7,503 (5,742) Recon¢iliJtion of funds Total funds broughi forward 3,018 8,760 Total funds carried forward 10,521 3,018 This page does not fomi part of the statutory financial slatements. Page 16
Ormeau Road Boxing Club Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2023 Total 2023 Total 2022 Doiirtiloii.g Iiiiil leg<icies Grants received Meinbership fees Other donalions 6,828 1,000 2,500 4,969 10.328 4,969 Cliiiril(Ible IiL'liville,F Prciniscs Expenses Equipinent Adininislralion expenses Molor expenses Depreciation of motor vehicles (owned) Share of support Costs Share of govei'nance costs Bank charges 6,000 1,000 633 600 693 500 2,223 780 75 960 72 2,825 10.711 This page does not fontj part of the statutory financial statements. Pag¢ 17