Company Registration Number: N1038531 Charity Registration Number: NIC103358 The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Annual Report and Unaudited Financial Statements For the year ended 31 March 2024 McGarry
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Con For ear d31Mar h 2024 Page General Informatlon Trustees Annual Report Independent Examlner's Report Statement of Flnanclal Activltles io Statement of Flnanclal Positlon 11- 12 Notes to the Flnancial Statements 13-22
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) ENERAL INF RMATION Board of Trustees Arnold Hatch Geraldine Lawless Bryan McLaughlin Mary Josephine Loughran Kyle Alfred Davld Savage Violet Noelle Menual Walter Ferris William Harris Jones Sheila Nccreesh Lenny Deans Martin Busch Company Secretary Arnold Hatch Registered offlce Unit loa 19 Carn Business Park Portadown Cragavon Co Armagh 8T63 5WG Company reglstration number N1038531 Charity reglstration number NIC103358 Independent examlners McGarry & Co Chartered Accountants Millennlum Court William Street Portadown Co Armagh BT62 3NX Bankers Danske Bank 39 Market street Lurgan Co Armagh BT66 6AB
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) For the year ended 31 March 2024 The Dlrectors, who are the trustees for the purpose of charlty law, have pleasure in presentlng thelr report and the unaudited financial statements of the charitable company for the year ended 31 March 2024. The flnancial statements have been prepared In accordance with the Statement of Recommended Practice "Accounting and Reportlng by Charities" (FRS 102), United Kingdom Generally Accepted Accountlng Practice and the Companles Act 2006. The reference and admlnistration detalls of the charlty are as shown on page 3. The Trustee's report contains the informatlon required to be provlded In the Trustees, Annual Report under the Statement of Recommended Practice (SORP) guldellnes, The trustees of the company are also the charlty trustees for the purpose of charity law and under the company's consitutions are known as members of the board of trustees. In thls report the trustees of The Antrim Down and Armagh Rural Support Network (T.A.D.A.) present a summary of its purpose, governance, actlvlties, achlevements and finances for the financial year 31 March 2024. The company Is a registered charity and hence the report and results are presented In a form which complies wlth the requlrements of the Companies Act 2006 and, although not obliged to comply wlth the Statement of Recommended Practice, the organisation has Implemented Its recommendations where relevant In these financlal statements Public Beneflt Statement The DSrectors of T.A,D.A confirm that they have complled wlth the guldance produced on Public Beneflt by the Charlty Commlssion for Northern Ireland, and are pleased to report that during the year the charitable cornpany has contlnued to provlde Publlc Benefit through the servlces offered.
TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) For the year ended 31 March 2024 Review of Activities, Achievements and Performance. During the year sUPPOrt has been provided to rural community groups in the Armagh, Banbridge, Craigavon, Lisburn and Castlereagh area to improve the quallty of life for all people of the area, TADA strive to develop capacity and leadershlp skills asslstlng to empower and sustain local communltles. Support Is provided on good governance, Charity Commission registration and annual reporting, completing funding applicatlons and project action planning. Regular emails go out to educate and provide groups wlth advice, guidance, information of activities and events, tralning and funding. TADA is one of seven Rural Support Network providers In Northern Ireland awarded the DAERA Rural Community Development Support Service contracted to provide local communlty development support and an advlce service to the rural communltles. TADA supports the sustainabillty of vlbrant rural communlties, by provldlng Information, advocacy, capaclty building and partnershlp worklng. TADA prlmarlly work in the rural areas of Armagh, Banbrldge and Cralgavon areas but we also have a Jolnt contract with our sister network, County Down Rural Support Network, to work In Llsburn and Castlereagh rural areas. Financlal Review Flnancial Performance At the end of the flnanlcal year the company had assets of £182,645 (2023 - £182,714) and liabilitles of £16,795 (2023 £22,144). The net assets of the compnay have Increased by £5,280. Reserves Pollcy The Trustees have conflrmed £80,000 as the level of free reserves that the charity alms to have on an ongoing basls. The trustees belleve this level of free reserves Is essential to cover running costs and redundancies should funding cease. structure, Governance and Management Organisational structure The charitable company is a company limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Association which establlshed the objects and powers of the charitable company and is governed under Its Articles of Association.
TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) For the year ended 31 March 2024 In accordance with the Articles of Association, the mernbers to retire by rotation shall be those who have been longest In office since their last election, and the relevant motlon will be put at the Annual General Meetin9. A retlring member shall be eliglble for re-election. Directors The Directors during the year are the same as the Trustees as Ilsted on page 3, Taxation Status The charitable company is recognised as a charlty by HM Revenue & Customs, Accordlngly, the charitable company has availed of the exemptlons contalned In Chapter 3 Part 11 Corporatlon Taxes Act 2010 and Section 256 Taxatlon of Chargeable Gains Act 1992. Dlrectors, Responsibilitles The Directors are responsible for preparing the financial statements accordance wlth applicable law and Unlted Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accounting Practice). Cornpany law requlres the Dlrectors to prepare flnanclal statements for each flnanclal year which give a true and falr vlew of the state of the affairs of the charitable company and of the incoming resources and application of resources, Including the income and expenditure, of the charltable company for that year. In preparlng these financlal statements the Dlrectors are requlred to.. •select suitable accounting policies and apply them consistentlyi •observe the methods and prlnclples in the Charities SORP (FRS 102); •make judgements and estimates that are reasonable and prudent, •State whether applicable UK Accountlng Standards have been followed, subject to any materlal departures disclosed and explalned in the ftnancial statements,. and •prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the charltable company will contlnue in operatlon. The Directors are responsible for keeplng adequate accounting records that disclose wlth reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charltable company and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.
TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) For the year ended 31 March 2024 Small Companies Exemption The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on i 4 by: Zo"L'% and signed on its behalf GERALDI Trustee LAWLESS BRYA Trustee MCL HL4N Company Registration Number: N1038531 Charity Registration Number: NIC103358
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Independent Examiners. Report to the members on the unaudited financial statements of The Antrim Down and Armagh Rural Support Network (T.A.DA.) for the year ended 31 March 2024 We report on the financlal statements of the charltable company for the year ended 31 March 2024 whlch are set out on pages 10 - 22. Respective Responsibilitles of Trustees and Independent Examlner As the charitable company's Dlrectors, who are the trustees for the purpose of charlty law, you are responsible for the preparatlon of the financlal statements in accordance with the requirements of the Companies Act 2006. Havlng satisfled ourselves that the charltable company Is not subject to audlt under company law, and Is ellglble for independent examlnation, It Is our responslblllty to: a) examlne the accounts under sectlon 65 of the Charltles Act (Northern Ireland) 2008; b) follow the procedures laid down in the general dlrectlons given by the Charlty Commisslon for Northern Ireland under section 65(9}(b) of the Charlties Act (Northern Ireland) 2008, and c) state whether particular matters have come to our attentlon. Basis of Independent Examiner's Report We have examined your charitable company's flnancial statements as required under section 65 of the Charltles Act (Northern Ireland) 2008 and our examlnation was carried out accordance wlth the general directlons given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination Included a review of the accountlng records kept by the charitable company and a comparison of the accounts presented with those records. It also Includes consideration of any unusual Items or dlsclosures In the accounts and seeking explanations from you as charitable company Dlrectors concerning any such matters. Our role Is to state whether any materlal matters have come to our attentlon giving us cause to belleve,. a) That accountlng records were not kept in accordance with section 386 of the Companles Act 2006. or b) That the accounts do not accord with those accounting records. or c) That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the rnethods and princlples of the Charities Statement of Recommended Practice applicable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland; or d) That there is further information needed for a proper understanding of the accounts to be reached.
Independent Examiners, Report to the members on the unaudited financial statements of The Antrim Down and Armagh Rural Support Network (T.A.DA.) for the year ended 31 March 2024 Independent Examiner's Statement We have completed our examlnation and have no concerns in respect of the matters Ilsted above and, in connection wlth following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawlng to your attention. Ruairi McGarry McGarry & Co Chartered Accountants MillennSum Court Willlam Street Portadown Co Armagh, BT62 3NX Date: I
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Statement of Financial Activities For the year ended 31 March 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Notes INCOME AND ENDOWMENTS Voluntary Income other Income TOTAL INCOME AND ENDOWM 224,943 224,943 2,607 224,943 227,550 216,221 401 216,622 2,607 Expenditure Charitable actlvlties Total expendlture 215 815 215 815 222 270 222 270 202 261 202 261 Net Income / (outgoing) resources for the year (3,847) 9,128 5,280 14,361 Transfers between funds Balance brought forward 123,998 36,573 160,571 146,210 Balance carried forward 120 151 165 851 160 571 The above Statement of Financial Actlvltles Includes all Informatlon as requlred to be dlsclosed by the Companles Act 2006. All of the actlvitles of the charltable company are classed as contlnulng. The Statement of Financial Actlvltles Includes all galns and losses recognised during the year. The notes on pages 13 to 22 form an integral part of the flnancial statements. io
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) statement of Financial Position As at 31 March 2024 2024 2023 Notes Non-current Assets Propertyi plant and equlpment Current assets Recelvables Cash and cash equivalents 7,737 172 427 180,164 6,547 173 248 179,795 Payables: Amounts falllng due within one year io Net current assets 163 370 157 652 Total assets less current Ilabilities 165,851 160,571 Payables: Amounts falling due after one year Net Assets 165 851 160 571 REPRESENTED BY: Unrestrlcted funds Restrlcted funds Total Funds 12 12 12 120,151 123,998 165 851 160 571 The directors, statements shown on the following page form part of this Statement of Financial Position. li
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Statement of Financial Position As at 31 March 2024 (Continued) These financial statements have been prepared in accordance with the provisions applicable to the small companies, regime within Part 15 of the Companies Act 2006. For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The Directors confirm that the members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with Section 386; and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its incoming or outgoing resources for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes on pages 13 to 22 form an integral part of the financial statements. The financial statements were approved and authorised for issue by the Board of Directors and signed on their behalf by.. GE ALDINE LAWLESS Trustee BRYAN MCLAUGHLI Trustee Date Date Company Registration Number: N1038531 Charity Registration Number: NIC103358 12
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 I. GENERAL INFORMATION The Antrim Down and Armagh Rural Support Network (T.A.D.A.) is a charltable company Ilmited by guarantee incorporated in Northern Ireland. In the event of the charltable company belng wound up, the liabllity in respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered office is as shown on page 3. 2. ACCOUNTING POLICIES The followlng accounting policles have been applied conslstently in deallng with Items which are considered material in relation to the charitable company's financial statements. 2.1 Statement of Compliance The flnancSal statements have been prepared In accordance wlth Accountlng and Reportlng by Charltes,, Statement of Recommended Practice (SORP) applicable to charlties preparlng thelr flnanclal statements in accordance with the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2021 (Second Edition), the Flnanclal Reportlng Standard appllcable Sn the United Klngdom and Republlc of Ireland (FRS 102) and the Companies Act 2006. 2.2 Basis of Preparation The financial statements are prepared on a goSng concern basls under the hlstorlcal cost conventlon unless otherwlse stated in the relevant accountlng policy. Historical cost is generally based on the falr value of the consideration given In exchange for assets, The following accounting policles have been appllecS consistently in deallng with items whlch are considered material in relation to the charitable company's financial statements. 2.3 Cash Flow Statement The charltable company has applied Update Bulletin 2 as published on 5th October 2018 (effective l January 2019) and does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. 13
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 2.4 Income and Endowments (l) Charitable Activities Income from charltable activities includes Income received under contract or where entitlement to grant funding is subject to speclflc performance conditlons. It Is recognised as earned as the related services or goods are provlded. Grant income is recognlsed in the Statement of Financlal Activities when receivable. Grant income Included In thls category provides funding to support projects and Is recognlsed where there Is entitlement, certainty of receipt and the amount can be measured with sufficlent reliability. (li) Other Income other Income is recognised in the Statement of Flnanclal Actlvitles where there is entitlement, certalnty of receipt and the amount can be measured with sufficient reliabllity. 2.5 Expendlture Expenditure is recognlsed when a Ilabillty is incurred. Contractual arrangements and performance related grants are recognised as goods and servlces are supplled, Where costs cannot be directly attributed to a partlcular heading, they have been allocated to activitles on a basis consistent wlth use of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff tlme spent on those actlvlties. (5) Charitable Activities This comprlses all the resources applied by the charltable company in undertaklng its work to meet its charltable objectives. Charitable activlties will include the costs of governance arrangements whlch relate to the general running of the charitable company. 2.6 Fund Accountlng The charitable company has two types of funds for whlch It Is responsible at the year-end: Unrestricted Funds - Funds which are expendable at the discretion of the Board of Directors in furtherance of the objectives of the charitable company. In additions, funds may be held in order to finance capital investment and working capital. 14
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 Restricted Funds Income recelved for specific purposes. Such purposes are within the overall aims of the charitable company. 2.7 Propertyi Plant and Equipment and Depreciation All propertyi plant and equipment are Inltlally recorded at cost. Depreciation Ss provlded at rates calculated to wrlte off the cost less residual value of each asset over Its expected useful Ilfe, as follows: Flxtures, Fittlngs & Equlpment 15 % Reduclng Balance 2.8 Trade and Other Receivables Trade and other receivables are initially recorded at falr value and thereafter stated at cost less Impalrment losses for bad and doubtful debts. 2.9 Trade and Other Payables Trade and other payables are Inltlally recognlsed at falr value and thereafter stated at cost. 2.10 Taxation As a charltyi the charitable company Is not liable to Corporation Tax. 2.11 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposlts held at call wlth banks, other short term highly liquid investments wlth original maturities of three months or less. 2.12 Finance Costs Finance Costs are charged to the Statement of Flnancial Activities over the term of the debt. 15
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 2.13 Financial instruments (i) Flnanclal assets Basic financlal assets, including trade and other receivables, cash and bank balances and amounts owed by related partles and are initially recognlsed at transaction price, unless the arrangement constitutes a financlng transaction, where the transaction is measured at the present value of the future receipts dlscounted at a market rate of i nterest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reportlng perlod financial assets rneasured at amortised cost are assessed for objectlve evidence of Impairment. If an asset Is Impaired the Impalrment loss is the difference between the carrylng amount and the present value of the estimated cash flows dlscounted at the asset's orlglnal effective interest rate. The Impalrment loss Is recognised In profit or loss. If there Is decrease In the Impairment loss arSsing from an event occurrlng after the Impalrment was recognlsed, the impalrment is reversed. The reversal is such that the current carrylng amount does not exceed what the carrylng amount would have been had the Impalrment not prevlously been recognlsed. The impairment reversal Is recognised In profit or loss. Flnancial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the rlsks and rewards of the ownershlp of the asset are transferred to another party or (c) desplte having retalned some significant rlsks and rewards of ownershlp, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. (li) Financial Ilabilities Basic financial Ilabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related partles are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt Instruments are subsequently carried at amortlsed cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. 16
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 Trade payables are obligatlons to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liablllties if payment is due within one year or less, If not, they are presented as non-current liabllities. Trade payables are recognised Inltlally at transactlon price and subsequently measured at amortised cost using the effectlve Interest method. (111) Offsetting Financial assets and lIablItieS are offset, and the net amounts presented In the financlal statements when there is a legally enforceable right to set off the recognlsed amounts and there is an Intention to settle on a net basis or to realise the asset and settle the liabllity slmultaneously. 2.14 Critical Accountlng Judgements and Estimatlon Uncertalnty Estlmates and judgements are contlnually evaluated and are based on hlstorlcal experience and other factors, including expectations of future events that are belleved to be reasonable under the circumstances. Critical judgements in applying the entity's accounting pollcies There are no crltical judgements In applying the charlty's accountlng policies. Critical accounting estimates and assumptions There are no actual accounting estimates and assumptions. 17
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 3. INCOME AND ENDOWMENTS Unrestricted Funds 2024 Restricted Funds 2024 Total Funds Total Funds 2024 2023 Charitable Activities Grant income; Core & Project Fund ABC Grant Aid Lisburn Grant Ald DFC Jobstart Rank Foundation Total Income from Charitable Activltles 173,790 8,728 2,075 3,735 36,615 224,943 173,790 8,728 2,075 3,735 36,615 224,943 172,611 8,136 6,207 6,423 193,377 Other Income other Income 770 770 2,607 2,607 18
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 4. EXPENDITURE CHARITABLE ACTIVITIES Other Costs 2024 Support Costs 2024 Total Toal 2024 2023 Charitable activities DFC Jobstart TADA 2 - Charlty Runnlng Costs Lisburn Grantald ABC Grantald Rank Foundatlon 3,735 3,735 181,470 181,470 2,247 2,247 9,435 9,435 25,382 222,270 222,270 8,195 172,899 1,532 7,495 202,261 4.1 Analysis of sUPPOrt costs Total Total 2024 2023 Programme Costs Accountancy / Bookeeping Salarles, wages & related costs General Office running costs Bank Fees Staff training Consultancy 26,701 3,388 159,655 24,806 221 5,337 2,162 222,270 22,498 3,890 145,441 27,818 207 1,893 201,747 19
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 5. NET INCOME/{EXPENDITURE) FOR THE YEAR Net income/{expenditure Is stated after charglng/(crediting)'. 2024 2023 Depreciation of property, plant and equlpment 438 438 516 516 6. INDEPENDENT EXAMINER'S REMUNERATION The Independent Examiner's remuneratlon amounts to a fee of £1,800 (2023., £1,800) 7. STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons employed by the charStable company durlng the year 6 (2023,, 6). The total staff costs and employee benefit's was as follows., 2024 2023 Wages, salaries and pensions (Including soclal securSty) 154,920 140,365 No employee of the chartiable company received total employee beneflts of more than £60,000. 7.1 DIRECTORS, REMUNERATION The Dlrectors neither received nor walved any remunerations or any other benefits durlng the year and no reimbursements of expenses Incurred. 20
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 8. PROPERTY, PLANT AND EQUIPMENT Fixtures, Fittings and Equipment Total Cost At 31 March 2023 Additions At 31 March 2024 27,378 27,378 Depreclatlon At 31 march 2023 Charge for the year At 31 March 2024 24,459 438 24,459 438 Net Book Value At 31 March 2024 At 31 March 2023 9. RECEIVABLES 2024 2023 Trade Debtors Prepayments & Accrued Income 4,103 3,634 7,737 2,913 6,547 10. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank Overdraft Trade Creditors Accruals & Deferred income Taxation & Social Security costs 305 54 20,001 1,784 22,144 14,002 2,793 16,795 21
The Antrim Down and Armagh Rural Support Network (T.A.D.A) (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2024 11. RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 At 1st April 2022 Movement during Financial Year At 31 March 2023 Movement during Financlal Year At 31 March 2024 126,897 19,313 146,210 123,998 36,573 160,571 120 151 165 851 12. ANALYSIS OF MOVEMENTS IN FUNDS Opening Income Balance Expenditure Transfer Between Funds Closing Balance Core & Project Fund DFC Warm, Well Coni ABC Grantaid Llsburn Grantald DFC Jobstart Rank Foundation Restrlcted Funds 31,847 173,790 (175,016) 30,621 1,102 268 2,496 860 36,573 8,728 2,075 3,735 {9,435) (2,247) (3,735) 395 96 2,496 224,943 (215,815) 45,701 Unrestrlcted Funds 123,998 2,607 (6,454) 120,151 Total Funds 160 571 227 550 222 270 165 851 13. CONTINGENT LIABILITIES A contingent liabillty exists to repay grants recelved should certaln condltions not be fulfilled by the company. 22