11 HILL VELLACOTT 22 Great Victori8 Street, Belfast BT2 7BA T. +44 (0) 28 9044 2000 E. rmail@hillvellacott.com www.hillvellacott.com CHARTERED ACCOUNTANTS Charity Registration number NIC105833 Company Registration number N1038175 The Men's Advisory Project (A company limited by guarantee) Report and Financial Statements Year ended 31 March 2022 11 The Men's Advisory Project Contents Page Legal and administrative Informal￿n Report of the trustees Statement of trustees, responsibilities Independent auditors, report Statement of financial activities 12 Slalemenl of financial position 13 Notes on and forming part of the financial statements 14 11 The Men's Advisory Project Legal and administrative information Trustees Dr Pauline Irving Ms Margaret Mcllvenny Ms Palrieia Lewsley Mooney CBE Mr Peter McGowan Mr Robert Magee Mr Jake McKibbin Ms Lorna Smyth Auditors Hill Vellacoll Chartered Accountants 22 Great Victoria Street Belfast BT2 7BA Business address Floor 5 Glendinning House 6 Murray Street Belfast BT16DN Bankers Co-operative Bank P.0. Box 250 Delf House Soulhway Skelmersdale WN8 6V Charity Number NIC105833 Company Registration Number N1038175 11 The Men's Advisory Project Report of the trustees The trustees, who are also directors of the Charity have pleasure in submitting their annual report and the audited financial statements of the Charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice {SORPI "Accounting and Reporting by Charities" IFRS 102} in preparing the annual report and financial slaternents of the charity. Legal and administrative information on page 1 forms part of this report. structure¥ govornance and managemènt The Charity is a charitable company limited by guarantee and was set up on 22 March 2000. It is governed by a memorandum and articles of association. On appointment new Iruslees are briefed on their legal obligations under charity and company law, the content of the conslilution. the committee and decision making processes. Results The results for the financial year are sel out in the statement of financial activities on page 12. Directors and trustees The directors of the charitable company (the Charity) are ils trustees for the purpose of charity law and throughout this report are collectively referred lo as the trustees. The members of the Board during the year, and those appointed after 31 March 2022, we￿. Dr Pauline Irving Mr David Armstrong (Resigned 1414121) Mr John Mccandless IResigned 11121221 Mr Andrew Mairs {Resigned 1112122) Ms Margaret Mcllvenny Ms Palricla Lewsley Mooney C8E Mr Shaun Henry {Resigned 12141211 Mr Peter McGeown Mr Robert Magee (Appointed 11121221 Mr Jake Mckibben {Appointed 11121221 Ms Lorna Smyth (Appointed 11121221 Risk management Where appropriate, systems or procedures have been established lo miligale the risks the trust face by the trustees. Internal control risks are minlmised by the implementation of procedures for authorisalion of all transactions and projects 11 The Men's Advisory Project Report of the trustees (continued) Organlsational Structure The Charity has been structured in a way that ensures our members are able lo access management, staff and committee promptly when required. Our structure also ensures clear management responsibility and accountabilty. Objectives and actlvlties The Charity's main aims and objectives are.. to provide counselling services for men experiencing domestic abuse.. to provide support and facilitate men to understand their options and make their own chol￿S and decisions., to put men ill touch with organisations that can help them further., to offer support and ¢ounselling ServI￿S to men who have previously left a violent or abusive relationship and who are still experiencing the effe¢ts. to offer a range of servitss to men and women who warsl assistance and support lo deal with their anger. These services are available to those who have endured abuse and wish to understand powerful emotions, cope more with stress in their lives and adopt more appropriate behaviours for healthy re18tionships. Anger management services can be delivered through one to one counselling or an anger management group programme. We recognise that, although much has been written on anger management. our experience has been that the client is the expert on their anger management problem. 11 is our aim to help the client develop insight into their current way of dealing with their anger. how effective and useful Ihat might be for them. and how they can make changes that will improve their quality of life and their interpersonal relationships. Achievements and performance Over the past year The Men's Advisory Proje¢t has continued lo work as the lead specialist agenGy supporting men who have faced abuse in Northern Ireland. The requirement of services post the Covid pandemic saw only a limited redu￿10n. We worked hard lo folkiw and administer BACP guidelines and develop safe processes, policies and procedures to support and upskill our coun5ellors to work safely online and via telephone and as they returned to offering services face to fa￿. Service user numbers have continued at a high level in all areas of the country. due to the continued dedication of staff and volunteers and the excellent ne￿ork of other agenc￿S, both statutory and community and voluntary, that we work with each day lo ensure male victims and survivors have specialist and quality assured serv￿$ to support their wide-ranging needs. We have seen an increase in service users who have faced inlerfamilial domestn abuse and we worked hard to understand this stigmat15ed and hard to reach group. Especially we have begun the work to support younger men who have faced domestic abuse their entire lives and have had limited SLrpport for this trauma or in how to manage their lives without support outside these homes. Outreach fully qualified volunleer counsellors work in each TTUSt area in Northern Ireland and are supported by coordinators in the Western Trust and Belfast areas. Support required by men from rural areas was at the highest since our incepb'on and we have leamed that a blended approach to 5erviGe delivery will continue to support who live far from other services. Support 11 The Men's Advisory Project Report of the trustees (continued) from the PCSPS allowed us lo support this additional work and we must thank them for their understanding and support as we further develop services lo men and offer them the security ol information regarding legal services and being part of a safer community. The Men's Advisory Project has been rated very good or excellent by the majority of ils service users and we wish to uphold this standard in coming years. This year we were supported by the Northem Ireland Housing Executive to provide floating support and outreach services to men facing homelessness due to domestic abuse. These workers enhanced the overall work of the organisalion offering practical support lo men often very effected by many years and different tyFeS of domestic abuse. Unfortunately, this was in year funding which was sadly not renewed. Our learning has not been lost but the dedicated work required to support traumatised and homeless nEn who have faced abuse is something whlch we cannot carry out without dedicated funding for Floating Support and Outreach workers from the Northern Ireland Housing Executive. We are bereft that men who are homeless due to abuse are being placed into mixed use Hostels without dedlcated and specialist support and we cannot understand the reduction in support for those at risk of losing their tenancies to domestic abuse. This difference in provision is one we will examine with others as the year progresses. Plans for future periods In 2023, The Men's Advisory Project will continue lo develop the current services and will offer further services of education and support to ensure others know more about male victims and understand how lo better support men facing abuse. We wish lo become more sustainable and to have our counselling quality assured and seek course approval. We will actively fund raise to ensure that we become more robust in terms of IT provision and seek Cyber Essentials Plus accreditation io provide additional security lo future funders. We wish to provide additional training to external agencies and hope to support men in a wider sense by the development of this arm of the Charity. The Charity attracts funding from the Health ond Social Care Board. the Halifax Foundation. Tudor Trust and various local Policing Community Safety Partnerships. We have been grea￿Y supported by these fvnds to fvrther develop services within commursities. This funding has allowed men to access housing, primary health. civil and criminal justice and to feel seen as victims and survivors of abuse. We plan to put the voice of male victims further into the heart of government and work hard to have men and their experiences better recognised in policy development and governmental Gonsullalion. We also wish lo develop closer links to the Northem Ireland Housing Executive and Department of Communities to ensure that male victims of abuse are supported in their homelessness post abuse or in the significant diffKullies they face. Finalty, we hope to develop closer working relationships with other significant servi￿$ providing support tri those who have fa￿d of domestic or sexual abuse lo ensure than an apparent hierarchy of victims is removed as we move forward. We recognise that to truly support victims we must work together as a secloi lo offer a wide range of services and support mechanisms. We aim to work in Partnership with other organisations to deliver servitss to ensure this lakes place. Financial rgview Details of the results for the year are set out in the statement of firsancial actlvities on page 12,13 and the related notes. The trustees have reviewed the reserves of the Charity and strive to ensure there are adequate reserves to cover any unforeseen expendilure in the future. Fixed assets The movements in fixed assets during the year are set out in note 9 and 10 to the financial 11 The Men's Advisory Project Report of the trustees (continued) statements. Audltors A resolution will be proposed at the Annual General Meeting lo reappoint Hill Vellacott as auditors. Hill Vellacott have indicated their willingness lo continue in offi￿. By order of the board Patricia Lewsley Moongy CBE Trustee 23 March 2023 11 The Men's Advisory Project Statement of trustees. responsibilities Law applrable to Charliies in Northem Ireland requires the trustee5 to prepare financial slalements for each financial period wh￿h give a true and fair view of the Charity's financial activities during the year and of rts financial position at the end of the year. In preparing those financial stalemenls, the trustees are required to.. select suitable accounting policies and then appty them consistently.. makejudgements and estimates that are reasonable and prudent- slate whether applicable accounting 51andards have been followed. subject to any material departures disclosed and explained in the financial statements-, prepare the financial slalemenls on the going concern basis unless it Is inappropriate to presume that the trust will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any tinie the financial position of The Men's Advisory and to enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland} 2008 and the Companies Act 2006. They have general responsibility for taking such steps as are re850nably open to them to safeguard the assets of The Men's Advisory Project and to prevent and detect fraud and other irregularities Disclosure of Informatlon to Ihe auditors We, the directors of the company who held office al the dale of approval of these Financial Statements as sel out on page 1, each confirm so far as we are aware that.. there is no relevant audit information of which the trust's auditors are unaware- and we have taken all steps that we ought lo have taken as trustees in order to make ourselves aware of any relevant audit infomialion and to establish that the Charity's auditors are aware of that infomTration. By order of the board Patricla Lewsley Mooney CBE Tmstee 23 March 2023 11 HILL VELLACOTT 22 Great Victorio Street. 8elf8st BT2 7BA T. +44 (0128 9044 2000 mail@hillve118COtt.com www.hillvellacott.com CHARTERED ACCOUNTANTS Independent auditors, report to the members of The Men's Advisory Project Audltor's responsibilitles lor the audit of the financlal statements We have been appointed as auditor under section 6513llb} of the Charities Act (Northern Ireland) 2008 and report in accordance with regulations made under section 66 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect material misstatement when it exists. Misslalements can arise from fraud or error and are considefed material if, individually or in the aggregate, they Gould reasonabty be expected to Influen￿ the economic decisions ol users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procèdures in line with our responsibilities, outlined above. lo delecl rnaterial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting iiregularities, including fraLKI is detailed bebw.. Our approach was as follows.. We obtained an understanding ol the legal and regulatory frameworks that are applic8ble to the charity and detefmined that the most signif￿ant are those that relate to: the charitable status of the charity and its registration with The Charity Commission for Northern Ireland under the Charities Act (Northern Ireland) 2008 and the Charsties Act (Northern Ireland) 2013- compliance with the Charities SORP IFRS 1021 (second edition - October 20191- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019}; data protection laws (including UK General Data Protection Regulation (GDPR)): and safeguarding of children and young Feople. Auditorfs approach to assessing the risks of material misstatement due to irregularities, including fraud We assessed Ihe rlsks of material misstatement in respect of fraud with the consideration of= the charity's own assessment of the risks that irregularities may occur either because of fraud or error that was approved by the Iruslees-, the results of our enquiries of management and the trustees a￿￿t their own identification and assessment of the risks of irregularities., HILL VELLACOTT 22 Great Victoria Street. Belfast 8T2 7BA T. +44 (0) 28 9044 2000 mail@hi11ve11acott.com www hillvella¢ott.¢om CHARTERED ACCOUNTANTS Independent auditors, report to the members of The Men's Advisory Project any matters we identified having obtained and reviewed the charity's docurnentalion of their policies and procedures relating to.. Identifying, evaluating and comptying with laws and regulations and whether they were aware of any instances of non-compliance- detecting and responding lo the risks offraud and whether they have knowledge of any actual. suspected or alleged fraud.. the intemal controls established to mitigate risks of fraud or non-compliance with laws and regulations. and the matters discussed among the audit engagement team regarding how and where fraud might occur in the finanrial statements and any potential indicators of fraud. Auditor's resFKJnse and procedures to the rlsks identified Based on the results of our risk assessment we designed our audit pr¢xedLtres to identify non- compliance with such laws and regulations identified above. we considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud in the areas of the controls covering the application of funds to the restTlcted purposes specified by the funders and in wh￿h management is required to exercise significant judgment, Such as disclosure of adjusting items. In common with all audits under ISAS (UK), we are also required to perform specific procedures lo respond to the risk of management override. we also obtalned an understanding of the legal and regulatory framework that the Charity operates in, foeusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial stalemenls. The key laws and regulations we considered in this context included Nl Charity legislation (including the regulator. The Charities Commisslon for Northern Ireland) and the Charity SORP. we made enquiries of management and those charged with governance and reviewed minutes of the Twstee's meetings and enquired about any communicatlons wlth the ¢harity regulator. Audit procedures designed lo respond to the rtsks of fraud we consKlered the risk offraud through transactions outside the normal course of transactions by noting anything that was unusual in nature or size and enquired about such transaction to gain an understanding of their nature., based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relats.on lo fraud and other irregularities. 10 11 HILL VELLACOTT 22 Great Viclorio Street. B$lfèst BT2 7BA T. +44 (0128 9044 2000 mail@hillvellacott.com www.hillvellacott.com CHARfERED ACCOUNTANTS Independent auditors. report to the members of The Men's Advisory Project we reviewed the operation of the controls within the charity over expenditure in general and of the allocation of expenditure to the restricted funds and the segregation of duties within those onlrols, together with substantive testing and analytical review and incorporating an eleTnent of unpredictability in the selection of the nature, timing and extent of audit procedures. we evaluated the selection and application of accounting poliaes by the charity. particularly those related to subjective measurements, that may be indicative of fraudulent financial reporting. As part of an audit in accordan￿ with ISAS {UKI, we exercise professional judgment and maintain professional sceplicism throughout the audit. We also. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the Circumstan￿S, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's inlemal control. Evaluate the approprlateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obt2ined. whether a material uncertainty exists related to events or condition5 that may cast significant doubl on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention ill our auditor's report to the related disclosures in the financial slalements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs reporL However, future events or conditions may cause the charitable company to cease lo continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements. including the disclosures, and whether the financial stalemersls represent the underlying transacbons and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and liming Ot the audit and significant audit findings, indudlng any significant deficiencies in internal control that we identify during our audit. 11 11 HILL VELLACOTT 22 Great Victoria Street. Belfast BT2 7BA T. +44 (0128 9044 2000 E. mail@hillvellacott.com www.hillvellacott.com CHARTERED ACCOUNTANTS Independent auditors, report to the members of The Men's Advisory Project Uso of our report This report is made solely lo the charitsble ￿MpanY'S trustees, as a body, in aCcOrdar￿ with Part 4 of the Charities {Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might stale to the charitable company's trustees those rnatters we are required to slate to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the chari18ble company's trustees as a body, for our audit work, for this report, or for the opinions we have fomied. Conor Mccaffrey ACA {Senior Statutory Audltorl For and on behalf of Hill Vellacott, Statutory AuditOTS. Chartered Accountants 23 March 2023 12 11 The Men's Advisory Project statement of financial activities Year ended 31 March 2022 Unrestricted Restricted funds funds Restated 2021 2022 Note Incomlng resources Incoming resources from charitable activities HSCB Contributlons from clients Olher incoming resources 82.961 82,961 16,599 113,066 95,221 5,892 114,671 16.599 62.560 50.506 Total Incomlng resources 79,159 133,467 212,626 215,784 Resources expended GovernanTr costs Charitable activities 2.522 131.525 2,522 200,466 2,196 182,048 68,941 Total rosources expendod 168.9411 {134,0471 1202,9881 1184,2441 Net incoming resources 10,218 {5801 9,638 31.540 Fund balan￿¥ brought forward 26,638 115,461 142.099 110.559 Fund balances carried forward 17 36,856 114,881 151,737 142,099 The Charity has no recognised gains or losses other than those inclLrded above and therefore no separate statement of total re￿gnIsed gains and losses has been presented. The incoming resources and re50urGes expended amounts as Staled above are derived solely from continuing operations. The notes on pages 14 to 26 form part of these financial statements. 13 11 The Men's Advisory Project statement of financial position 31 March 2022 Restated 2021 2022 Fixed assets Tangible fixed assets Intangible fixed assets 6,818 3,926 11,899 4,172 io Current assets Debtors Cash at bank and in hand 12 61.115 90.665 75,512 54,111 151,780 129,623 Credltors - amounts falling due within one year 13 110,787} {3.5951 Net current assets 140.993 126,028 Net assets 151,737 142.099 Funds Unrestr￿ed furKls- general reserve Restricted funds 1T 17 36,856 114,881 26,638 115,461 151.737 142,099 The financtal slalements were approved by the Iruslees on 23 Mafch 2023 and srgned on their behatf by.. É .£4 Y-/ Patricla Lewsley Mooney CBE Tmslee Registration number.. N1038175 Charity registration rbumber." NIC105833 The notes on pages 14 to 26 form part of these financial statements. 14 11 The Men's Advisory Project Notes General Infomiation The charity is a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered oftice is Gler¢dinning House Slh Floor, 6 Murray Street. Belfast, BT16DN. statement of Compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Irelarid,, the Statement of Recommended Practice applieable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charities SORP IFRS 102}l and the Companies Act 2006. Accounting Policles The accounting policies are consistent with those of the previous period. (i) Basis of accounting The Charity prepares ils financial statements under the historical c05t convention, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. (li? Fund accounting Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and have not been designated for other purposes. Designated fvnds are unrestricted fvnds earmarked by the Executive Committee for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Investment income and gains arising from the general and deposit bank accounts are allocated to the unrestricted fund. Investment inco(ne and gains artsing from designated bank accounts are allocated to the restricted fund. 15 11 The Men's Advisory Project Notes (continued) (Ill) Incoming resources All incoming resources are included in the statement of financial activities when the Trust is legally entitled lo the income and the amount can be qvanb'fied with reasonable accuracy. For legacies. entitlement is the earlier of the Charity being notified of an impending dislributs'on or the legacy being received. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteeTS. Investment income is recognised on 8 receivable basis. Iv) Going Concem There are no material uncertainties about the charity's ability to continue. (vj Judgements and key sources of estlmation uncertainty The preparation of the financial statements requires m2nagemenl to make judgements. estimates and assumptions that affect the amunts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expeclats'ons of future events that are believed lo be reasonable under the circumstances. Significanljudgemènts There are no significant judgements {apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have any significant effect on the amount5 rec￿nIsed in the financial statements. Key sources of eslimaty'on Un￿rtaInty Accounting estimates are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustrnent to the carrying amounts of assets and liabilities within the next financial year. 16 11 The Men's Advisory Project Notes (continued) Accounting policies (continued) (vij Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregsle all costs related to the category. Costs have been allocated lo activities on a basis consistent with use of the resou￿$ as set out in note 2. Costs of generating funds are those Costs incurred in attracting voluntary income and those incurred in trading activities that raise funds. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities ancs servi￿$ lo its beneficiaries. It includes both costs that can be allocated directly to such actlvilies and those costs of an indirect nature necessary to support them. Governance costs include Ihose incurred in the governan￿ of its assets and are primarily associated with constitutional and statutory ￿quIreMents. (vil) Tanglble fixed assets and depreciatlon Tangible fixed assets are staled at cost less depiecialion. Depre¢iats"on is provided at rates calculated to write otf the cost less residual value of each asset over its expected useful life, as follows.. Office equipment Computer equipment 25Vo 33.33% straight line straight line (viiij Intangible fixed assets and amortis?tion Intangible fixed assets are staled at Cost less depreciation. Amortisalion is provided al rates calcLtlated to write off the Gost less estimated residual value of each asset over its expected useful life, 2$ follows.. Webpage design 5% straight line {ix) Grants Grants are recognised as incoming resources once the Charity has entitlement to the resources, il is certain that the resources will be received and the monetary value of incoming resources can be measured with suffic¢enl reliability. Where uncertainty exists as to whether the Charity can meet conditions within ils control the Incoming resource is not recognised but deferred as a liability until certainty exists that the conditions imposed can be meL A Ilability for any repayment is recognised when repayment becomes probable. 17 11 The Men's Advisory Project Notes {contsnued) 3 Accounting pollcles (contlnued) (x) Flnancial Instruments A financial asset or a financial liabillty is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are inilialty recognised at the amoltnt receivable or payable including any related tsansaclions costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequenuy measured at amortised cost. ere investments in shares are publicly traded or their fair value ¢an otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments a subsequenlty measured at cost less impairment. Other financial instruments, including derNalives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business temis or finan￿d at a rale of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument Other financial instruments are subsequerslly measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instnjments in a designated hedging relationship. Financi81 assets that are measured al cost or amortised eost are reviewed for objective evidence of impaimient at the end of each reporting date. If there is objective evider of impairment, an impairment loss is recognised under the appropriate heading in the statement of ffinancial activities in which the initial gain was recognised. For all equity instruments regardless of significan￿. and other financial assets that are individually significant, these are assessed individually for impairment. Other financi81 assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent Ih81 the reveTsal does not result in a carrying amount ofthe financial asset that exceed$ what the Carrying amount would have been had the impairment not previously been recognised. 18 11 The Men's Advisory Project Notes (conlinuedj Llmited by guarantee Every member undertakes to contribute lo the assets of the company in the event of the company being wound up while they are 8 member, or within one year of ceasing to be a member, for payment of the debts and liabilities of the company contracted before they ceased to be a member and of the costs, charges and expenses of winding up and for the adjuslmenl of the rights of the contribulories among themselve$, such amount as may be required not exceeding £1. 19 11 V¥)v )￿*? irnr Inr ￿tr)t0P￿r1n¢7)1yj Co￿￿?0￿Co tn > o) C>1£ L> j U)aJ 0£ E o)w- o) CFC £ ￿cE￿>￿1J ¢n¢n￿oU￿_{LuX<￿<￿[L￿￿0IiVjlD 11 ' W¢DO)rrOLnu)oinoo ' ￿￿￿11[>0(0 11 LY)¢nSoo)J tivi<￿