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2023-12-31-annual-return

Charity Number: 109114

Portadown Baptist Church

Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2023

McCleary & Company Ltd Chartered Accountants Quaker Buildings High Street, Lurgan Co.Armagh BT66 8BB

Portadown Baptist Church

CONTENTS

Page
Trustees' and Other Information 3
Trustees' Report 4 - 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 - 14
Supplementary Information relating to the Financial Statements 16

2

Portadown Baptist Church TRUSTEES' AND OTHER INFORMATION

Trustees Andrew Roycroft (Resigned 5 November 2024) Stephen Archer (Resigned18 November 2024) Anthony Irwin (Resigned18 November 2024) Paul Wright (Resigned18 November 2024) Raymond Pollock (Resigned18 November 2024) Stephen Acheson Ian Campbell Ray Cox Andy Donaldson Stephen Ellis Timothy Kerr Aaron Falloon Stuart Graham Aaron Gray Ashley Gillespie (Resigned 30 September 2023) Philip Martin Kenneth Martin Gareth Martin Matthew McFadden Graham Proctor Gavin Woods Chris Wright Andy Wilson Jeffrey Walker (Appointed 10 April 2024) Deane Gray (Appointed 10 April 2024) Charity Number in Northern Ireland 109114 Principal Address 117 Thomas Street Portadown Craigavon BT62 3AH Independent Examiner McCleary & Company Ltd Chartered Accountants Quaker Buildings High Street Lurgan Co.Armagh BT66 8BB Principal Bankers Danske Bank 45-48 High Street Portadown Craigavon BT62 1LB

3

Portadown Baptist Church TRUSTEES' REPORT

for the financial year ended 31 December 2023

The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 December 2023.

The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.

In this report the trustees of Portadown Baptist Church present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 December 2023.

The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.

Mission, Objectives and Strategy

Mission Statement

Portadown Baptist Church holds regular services for public worship, prayer, Bible Study, preaching and teaching for all age groups and provides pastoral care to members of the church through visitation and prayer. Portadown Baptist Church organises meetings and events that promote our charitable purpose. Portadown Baptist Church participates in the life of the local community and supports other Christian organisations and charities through volunteering, financial gifts and prayer.

Structure, Governance and Management

Structure

The charity has Trustees as detailed in the charity constitution. The church is recognised as a charity under the Charity Commission for Northern Ireland as at the date of registration 21 October 2022.

Where appropriate trustees are appointed following a selection process undertaken by the members of the church. The Trustees will hold their positions on a 3 -year cycle or until they resign, retire or are removed.

Trustee’s records are updated on the charity commission website to reflect these changes.

Review of Activities, Achievements and Performance

The office bearers’ of Portadown Baptist Church, as charity trustees present the following report on the work of the church for the year 2023.

On Sunday 10th December we had a wonderful evening of praise & rejoicing when 18 people took the step of obedience and were baptised. Later that same evening we welcomed twenty new members into the fellowship. Three of our much-loved members went home to be with the Lord during the year, our thoughts and prayers are with the families of Betty England, Joan Corbett and Betty McAvoy.

At the end of 2023 the membership of our church was registered at 249.

We had the joy of conducting five weddings in our church this past year, Emma Stevenson to Matthew Foster on 20th May, Lucy Stevenson to Harry McNeely on 24th May, Kathryn Bond to Jamie Killough on 5th July, Emma-Jayne Wright to Philip Matthews on 1st August, and Rosie Goodman to Ryan Mann on 30th October.

Over the past year we have seen the birth of 6 babies to young married couples in our congregation – what a blessing. On 21st June at a members’ meeting, it was agreed that the church should adopt the Ministry Partnership Scheme run by the Irish Baptist College which seeks to place a new graduate from the college with a church for 2 years as an intern. Matthew Patterson joined the church on this scheme in August, and his role has entailed him working closely with the pastor, doing visitation, general pastoral duties, preaching and working with the young people.

The eldership team within the church had seen the workload and stress burden on the senior pastor Andrew Roycroft, and shared how there was a need for an associate pastor to work alongside him. This would help the church operations to be better coordinated and more intentional, to this end they have been looking at the role of the associate pastor and have created a profile for what type of gifting & qualities he might have. These qualities will complement the senior pastor and will not replicate his role.

4

Portadown Baptist Church TRUSTEES' REPORT

for the financial year ended 31 December 2023

On 11 October a vote was taken by the members on calling Alan McCartney to the role of associate pastor and this was passed with a large majority. Alan was a final year student at the Irish Baptist College and so was not available to start until the academic year finished in May 2024.

Financial Review

The results for the financial year are set out on page 8 and additional notes are provided showing income and expenditure in greater detail.

Results

At the end of the financial year the charity has assets of £1,408,411 and liabilities of £27,741. The net assets of the charity are £1,380,670

Compliance with Sector-Wide Legislation and Standards

The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Portadown Baptist Church subscribes to and is compliant with the following:

■ The Charities SORP (FRS 102)

Public Benefit

Portadown Baptist Church meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian gospel of the Lord Jesus Christ through the advancement of the Christian faith. The direct benefits which flow from the purpose include: - Eternal salvation and adoption into the family of God through the gospel of Jesus Christ. - The spread of the Gospel of Jesus Christ, bringing reconciliation both between human beings and God and between human beings. - The gaining of an understanding in Christian beliefs as set out in the Bible and the Doctrinal Statement of the Church leading to spiritual and moral development and personal growth in the Christian Faith. - The provision of regular Christian education, helping people to understand, live out, defend and promote the Christian gospel of Jesus Christ. - Practical expressions of Christian beliefs and standards in the local community such as through the care of those in need, assistance and comfort to the sick, elderly and bereaved. - The development of individual ability and gift through the engagement of willing volunteers in practical and spiritual service. - The positive impact on society that comes from the living out of a Christian worldview. The benefits arising from the purpose will be demonstrated through; the number of those attending activities and events and benefiting directly each week from the Bible teaching and the corporate worship, the leaders and helpers mobilised each week through various programmes and the positive contributions of members within the wider community; and, the effective pastoral care supporting both families and individuals. This will be evidenced through regular evaluation and informal feedback from members and those attending events, their families and the general public within the community in which the Church operates. The Trustees do not anticipate that any harm will flow from any of the above purposes. The church’s beneficiaries are church members and adherents, and anyone who chooses to attend the church services which are open to members of the general public, other individuals that the Church is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations. The only private benefits flowing from our purposes are the provision of stipend for any pastor of the church who will also assume the role of Trustee and paid employment for the personnel required to manage the work of the Church. Such stipend, salaries and any incurred expenses are incidental and necessary to enable the Church to provide the pastoral and administrative support required to fulfil the stated Purpose.

Approved by the Board of Trustees on 4 December 2024 and signed on its behalf by:

Mr Graham Proctor

Mr Gavin Woods

5

Portadown Baptist Church STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the financial year ended 31 December 2023

The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.

The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act (Northern Ireland) 2008.

In preparing these financial statements, the trustees are required to:

The trustees confirm that they have complied with the above requirements in preparing the financial statements.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on 4 December 2024 and signed on its behalf by:

Mr Graham Proctor

Mr Gavin Woods

6

Portadown Baptist Church

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF PORTADOWN BAPTIST CHURCH

I have examined the financial statements of the charity for the financial year ended 31 December 2023, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

This report is made solely to the charity's members, as a body, in accordance with the Charities Act (Northern Ireland) 2008. My work has been undertaken so that I might compile the financial statements that I have been engaged to compile, report to the Board of Trustees that I have done so, and state those matters that I have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for my work, or for this report.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required.

It is my responsibility to:

Basis of independent examiner's report

I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:

Independent examiner's statement

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

__________John McCleary FCA MCCLEARY & COMPANY LTD Chartered Accountants Quaker Buildings High Street Lurgan Co.Armagh BT66 8BB

Date: 4 December 2024

7

Portadown Baptist Church STATEMENT OF FINANCIAL ACTIVITIES

for the financial year ended 31 December 2023

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total| |Funds|Funds|Funds| |2023|2023|2023| |Notes|£|£|£| |Income| |Donations and legacies|3.1|163,947|19,164|183,111| |Investments|3.2|1,375|2|1,377| |Other income|3.3|49,342|5,087|54,429| |─────── ───────|───────| |Total income|214,664|24,253|238,917| |─────── ───────|───────| |Expenditure| |Charitable activities|4.1|195,306|32,177|227,483| |─────── ───────|───────| |Net income/(expenditure)|19,358|(7,924)|11,434| |Transfers between funds|(196)|196|-| |─────── ───────|───────| |Net movement in funds for the financial year|19,162|(7,728)|11,434| |Reconciliation of funds:| |Total funds beginning of the year|14|1,066,796|302,440|1,369,236| |─────── ───────|───────| |Total funds at the end of the year|1,085,958|294,712|1,380,670| |═══════ ═══════|═══════|

----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.

The notes on pages 10 to 14 form part of the financial statements

8

Portadown Baptist Church BALANCE SHEET

as at 31 December 2023

2023
Notes £
Fixed Assets
Tangible assets 9 826,349
───────
Current Assets
Debtors 10 39,370
Cash at bank and in hand 542,692
───────
582,062
───────
Creditors: Amounts falling due within one year 11 (27,741)
───────
Net Current Assets 554,321
───────
Total Assets less Current Liabilities 1,380,670
═══════
Funds
Restricted funds 294,712
General fund (unrestricted) 1,085,958
───────
Total funds 14 1,380,670
═══════

Approved by the Board of Trustees and authorised for issue on 4 December 2024 and signed on its behalf by

Mr Graham Proctor

Mr Gavin Woods

The notes on pages 10 to 14 form part of the financial statements

9

Portadown Baptist Church NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2023

1. GENERAL INFORMATION

Portadown Baptist Church is a charity incorporated in Northern Ireland. The registered office of the charity is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Basis of preparation

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".

As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.

Statement of compliance

The financial statements of the charity for the financial year ended 31 December 2023 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".

Fund accounting

The following are the categories of funds maintained:

Restricted funds

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.

Unrestricted funds

Unrestricted funds consist of a General fund.

■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.

Income

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.

Income from charitable activities

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.

Grants from governments and other co-funders typically include one of the following types of conditions:

■ Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income.

■Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised

10

continued

Portadown Baptist Church NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2023

in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.

Expenditure

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated, disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold - Not depreciated Fixtures, fittings and equipment - 10% Straight line

Debtors

Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

Taxation and deferred taxation

No current or deferred taxation arises as the charity has been granted charitable exemption.

3. INCOME
3.1 DONATIONS AND LEGACIES Unrestricted Restricted 2023
Funds Funds
£ £ £
Donations and legacies 163,947 19,164 183,111
═══════ ═══════ ═══════
3.2 INVESTMENTS Unrestricted Restricted 2023
Funds Funds
£ £ £
Bank interest 1,375 2 1,377
═══════ ═══════ ═══════
3.3 OTHER INCOME Unrestricted Restricted 2023
Funds Funds
£ £ £
Other income 49,342 5,087 54,429
═══════ ═══════ ═══════

11

continued

Portadown Baptist Church NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2023

4. EXPENDITURE
4.1 CHARITABLE ACTIVITIES Direct Other Support 2023
Costs Costs Costs
£ £ £ £
Expenditure on charitable activites 221,690 - 4,214 225,904
Governance Costs (Note 4.2) - - 1,579 1,579
─────── ─────── ─────── ───────
221,690 - 5,793 227,483
═══════ ═══════ ═══════ ═══════
4.2 GOVERNANCE COSTS Direct Other Support 2023
Costs Costs Costs
£ £ £ £
Accountancy - - 1,579 1,579
═══════ ═══════ ═══════ ═══════
4.3 SUPPORT COSTS **Charitable ** Governance 2023
Activities Costs
£ £ £
Bank charges, depreciation and accountancy 4,214 1,579 5,793
═══════ ═══════ ═══════
5. ANALYSIS OF SUPPORT COSTS
2023
£
Bank charges, depreciation and accountancy 5,793
═══════
6. NET INCOME 2023
£
Net Income is stated after charging/(crediting):
Depreciation of tangible assets 3,810
═══════
7. INVESTMENT AND OTHER INCOME 2023
£
Sundry income 54,429
Bank interest 1,377
───────
55,806
═══════
8. EMPLOYEES AND REMUNERATION
The staff costs (inclusive of trustees' salaries) comprise: 2023
£
Wages and salaries 73,024
Pension costs 3,222
───────
76,246
═══════

12

continued

Portadown Baptist Church NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2023

9. TANGIBLE FIXED ASSETS
Land and Fixtures, Total
buildings fittings and
freehold equipment
£ £ £
Cost
At 1 January 2023 779,594 208,507 988,101
Additions 26,850 - 26,850
─────── ─────── ───────
At 31 December 2023 806,444 208,507 1,014,951
─────── ─────── ───────
Depreciation
At 1 January 2023 - 184,792 184,792
Charge for the financial year - 3,810 3,810
─────── ─────── ───────
At 31 December 2023 - 188,602 188,602
─────── ─────── ───────
Net book value
At 31 December 2023 806,444 19,905 826,349
═══════ ═══════ ═══════
At 31 December 2022 779,594 23,715 803,309
═══════ ═══════ ═══════
10. DEBTORS 2023
£
Trade debtors 2,286
Other debtors 33,696
Prepayments and accrued income 3,388
───────
39,370
═══════
11. CREDITORS 2023
Amounts falling due within one year £
Trade creditors 19,870
Taxation and social security costs (Note 12) 907
Accruals and deferred income:
Pension accrual 329
Other accruals 6,635
───────
27,741
═══════
12. TAXATION AND SOCIAL SECURITY 2023
£
Creditors:
PAYE / NI 907
═══════
13. RESERVES
2023
£
At the beginning of the year 1,369,236
Surplus for the financial year 11,434
───────
At the end of the year 1,380,670
═══════

13

continued

Portadown Baptist Church NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2023

14. FUNDS
14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Total
Funds Funds Funds
£ £ £
At 31 December 2022 1,066,796 302,440 1,369,236
Movement during the financial year 19,162 (7,728) 11,434
─────── ─────── ───────
At 31 December 2023 1,085,958 294,712 1,380,670
═══════ ═══════ ═══════
14.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balance **Income ** Expenditure Transfers Balance
1 January between 31 December
2023 funds 2023
£ £ £ £ £
Restricted funds
Brownstown Youth 653 - - - 653
Campaigners 1,534 3,147 3,026 - 1,655
Fellowship Fund 7,288 600 1,215 - 6,673
Missionary Support Fund - 200 27,246 27,046 -
The Open Door 378 1 30 - 349
Property Fund 281,336 19,754 - (26,850) 274,240
Supplementary Mission Fund 8,362 100 105 - 8,357
Tuesday Fellowship 1,044 1 30 - 1,015
Two by Two 991 - 15 - 976
Walk for Life 220 - 30 - 190
Women’s Fellowship 467 450 450 - 467
Youth Fellowship 167 - 30 - 137
─────── ─────── ─────── ─────── ───────
302,440 24,253 32,177 196 294,712
─────── ─────── ─────── ─────── ───────
Unrestricted funds
Unrestricted General 1,066,796 214,664 195,306 (196) 1,085,958
─────── ─────── ─────── ─────── ───────
Total funds 1,369,236 238,917 227,483 - 1,380,670
═══════ ═══════ ═══════ ═══════ ═══════
14.3 ANALYSIS OF NET ASSETS BY FUND
Fixed Current Current Total
assets assets liabilities
- charity use
£ £ £ £
Restricted funds - 295,872 (1,160) 294,712
─────── ─────── ─────── ───────
Unrestricted general funds 826,349 286,190 (26,581) 1,085,958
─────── ─────── ─────── ───────
826,349 582,062 (27,741) 1,380,670
═══════ ═══════ ═══════ ═══════
15. TRUSTEES' REMUNERATION 2023
£
Remuneration 26,746
═══════

16. POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.

14

PORTADOWN BAPTIST CHURCH

SUPPLEMENTARY INFORMATION

RELATING TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

15

Portadown Baptist Church SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

Operating Statement for the financial year ended 31 December 2023

2023
£
Income 183,111
───────
Expenses
Wages and salaries (including trustees' remuneration) 73,024
Staff defined contribution pension costs 3,222
Staff training 1,015
Rates 1,201
Insurance 3,985
Copyright licences 1,464
Website & technology costs 7,325
Light and heat 22,475
Cleaning 1,516
Repairs and maintenance 4,772
Property Improvements 4,360
Printing, postage and stationery 2,589
Postage, freight & courier 23
Books & literature 3,019
Telephone 1,684
IT Software & consumables 711
Motor expenses 2,314
Accountancy 1,579
Bank charges 404
Insight magazines 155
General expenses 2,797
COVID 492
Pulpit expenses 1,400
Church giving 63,229
Ministries 18,918
Depreciation 3,810
───────
227,483
───────
Miscellaneous income
Sundry income 54,429
Bank interest 1,377
───────
55,806
───────
Net surplus 11,434
═══════

The supplementary information does not form part of the financial statements

16

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