Scottish Charity No SC038140 Kilmallie and Ardnamurchan Free Church of Scotland Trustees, Report and Financial Statements Year Ended 31 De￿mber 2024 Kllmallie and Ardnamurchan Free Church of Scotland Church Inforniatlon Business address Glenpane Slreet Caol Fort Williarn PH33 7AU Tel Prop Deacons, Court Independent Examiner Voluntary Action Lochaber An Drochaid, Claggan Road Fort William PH33 6PH Bankèrs Bank of Scotland 62 High Street Fort William PH33 6AE Solicito Simpson & Marwick WS Albany House 58 Albany Street Edinburgh Kllmallle and Ardnamurchan Free Chur¢h of Scotland Report of the Trustsos for the year ended 31 December 2024 The Trustees are pleased to present their report together with the financial statements of the church forthe year ended 31 December 2024. Status of Charity and Governlng Document Kilmallie and Ardnamurchan Free Church of Scotland is unincorporated and governed by its Constitution. The church is a registered Scottish Charity (SC 038140). Aims and Afflliation The Free Church of Scotland currently has over 100 congregations in Scotland, as w811 as two in London and five in North America, and sister churches founded by Mission work in India, Peru and South Africa. The Church also has a seminary in Edinburgh for the training of ministers and other Christian workers and sustains an extensive missionary programme relative to the size of Ihe church. The principal activity of the Church is the conduct of public worship and associated matters in the context of local congregations. Dating from 1843, bul with its roots in the Refomation, it owes its distinctive title lo its historical struggle to remain "Free" from slate interference in its spiritual and internal affairs. It has Close and active relations with many other Reformed churches of Jesus Christ throu9hout the world and stands firmly in the tradition which accepts the Bible in its entirety as the Word of God and, consequently, derives its form of teaching, worship, ministry and government from it. The main emphasis in the service of worship is the preaching of the Gospel - the Good News of a sovereign Salvation through Jesus Christ alone. The Free Church of Scotland is a Presbyterian Church adhering in its worship and doctrine to the position of the Free Church of Scotland at the Reformation There is an explanatory document which explains the origins of the Church, and which gives historical background to the Church coming into being in 1843 and lists the documents in which is embodied ils constitution. The document is available on request from the Free Church of Scotland, 15 North Bank St, The Mound, Edinburgh, EH12LS. Kilmallie and Ardnamurchan Free Church of Scotland is a congregation of the national Free Church of Scotland working towards the common aims set out above. The congregation is within the Presbytery of Inverness, Lochaber and Ross. The congregation is authorised by the Church to have a minister paid from central funds of the Church. The Church buildings, Minister's manse and the r8sidential property "Forglen" are the property of the congregation. Trustees and Offic8 Bearers The congregation is governed and administered by elected office bearers (volunteers without payment) and its minister. The Kirk Session, composed of the minister and elected elders, has responsibility for spiritual matters while the Deacons, Court, composed of the Kirk Session with any elected Deacons, is responsible for financial and material matters. Under charity law, the Deacons, Court are deemed to be trustees of the congregation as those with responsibility for day-lo-day management and control. This is distinct from the Congregational trustees who are responsible for holding congregational property in trust. Appolntment of Charity Trustees The Kirk Session exercises its discretion in determining the most appropriate method of electing trustees (Elders and Deacons). Any election process must involve the communicant membership of the congregation. There is no fixed term for Trusteeship. Prior to their appointment, new trustees would have sérved the church for some time in various roles and would be familiar with the church's values, its standards, aims and day to day operations. As part of the induction programme, new trustees are required to understand their stalulory responsibilities as well as their responsibilities of the office within the congregation as Elder or Deacon. Grant making policy The church makes grants from tithed gift income to individuals and organisations that are generally known to the trustees of the church. The beneficiaries are involved in activities or ministries compalible with church objectives. Dunng 2024, donations were made to Compassion lo sponsor a child in Haiti, Asia Link, Oswestry Free Church camp, Tearfund and the Lingard family lour mission partners in Greecel. Statemènt on risk The Trustees assess Ihe major risks to which the congregation is exposed on an ongoing basis and have established procedures to mitigate those that are identified as a result of these reviews. Reservès policy The policy of the Trustees is to aim to retain sufficient resetves to meet the cost of any regular commitmenls, as well as a contingency to enable it to continue to develop further projects. ObJe¢tlvos and activltles The congregation aims to maintain the public worship of God and lo foster Christian fellowship,. to evangelise the local area by proclaiming the Gospel of the Lord Jesus Christ, the exercise of pastoral care and the provision of practical compassion for those in need,. to uphold and further the interests of the Free Church of Scotland,. and to participate in the worldwide promotion of Christian fellowship and the advancement of the Christian faith. All the business and proceedings of the Congregation shall be conducted in accordance with the constitution of the Free Church ol Scotland, under the supervision of the Presbytery of the bounds, and in terms of the Acts, deliverances or directions of the General Assembly of the Free Church of Scotland. Achievements and performance 2024 was an adive and varied year for the congregation in OLsr pursuit of our charilable aims. We held morning and evening serviGe5 each week in our Kilmallie building. These are open to all in the community. A creche and Sunday school ran alongside the services, and a time of hospitality was shared after each morning service. We studied various books of the 8ible including the Psalms and the Acts of the Apostles. An occasional youth fellowship was launchèd for those in High School. This consists of gam8s, discussion and musical rehéarsals after the Sunday evening service. Our services are livestreamed Dver the internet and also to our church building in Acharacle. In- person services and a Sunday school were also held in Achafacle. Our building there underwent a complete refurbishment. The property is now safer, more aC￿SsIble, more energy efficient and more flexible. We had a special re-opening service in December, and the building has been well used sin￿. The project was funded by a combination of our reserves and significant grants from individuals and charities A significant audiovisual upgrade means the Achafacle building is now capable of receiving and broadcasling live s8rvices. During the renovations, Ihe congregation met in the neighbouring community centre. The Sunday school still meets in the community cèntre while the servi￿$ proceed in the church building. We continued lo hold a monthly service in Kilchoan outside of the summer when local Supply is in place. We welcomed a number of preachers lo conduct services at the most Westerly point of the British mainland We are grateful to the Church of Scotland for tha use of Iheir modern church building. The Kilmallie churth hosted a variety of ￿gUlar midweek ministries. On Monday evenings there was a fellowship group for those whose lives are affected by addiction Tuesday evenings saw a combination of prayer meetings and study groups exploring a range of different resources. There was a fortnightly ladie5, Bible study on Wedn8sdays. Two community groups were hosted by our congregation on Thursdays- a toddler's group in the marning and a craft group In the aftemoon. The Saturday event- Families Altogether in the Hall IF.A.I.T.H i - continued to be w@11 attended by local families who engaged with Ihe activities and lessons before sharing together a warm meal. Towards the end ofthe year a fund-raisin9 quiz was hosted an behalf of Tearfund. A Christmas craft and bake sale proved popular as did the congregational Christmas lunch. The Kilrnallie church building was also hired out to external or9anisations including an early years group and a local musical initiative 'Lochaber Music for All,. The Forglen manse was rented to a local family. Both rentals bring in signifiGant income to help with the costs of our properties. Our congregation continue to support generously ministry families are working in Athens among students. refugees and the urban oor. Our church is their sending church. The Minist8r was able to pay 2 brief i'sit lo Athens and see first hand the Christian ministry being undertaken there. serves the church in a wiée rangè of ways as our Minister in Training. The congregation contribute lo his monthly support, and he also receives funds from extemal organisations to enable him to work full-time for Ihe congregation. The church made donations to Compassion.. £384 (supporting a girl in Haiti), Asia Link-. £200, Oswestry Free ChurGh Camp.. £300 towards camp leaders, fee5 and £1,058.96 towards activities on the Camp. the Tearfund Big Quiz Night.- £433.46 and the Lingard family {mission partners in Gr88ce).' £625.98. Flnancial review In relation to congregational funding.. Donations to the General, Building and Maintenance and Acharacle funds in 2024- £98,025.25 (2023 - £69,797.15) (General, Building, Acharaclel, with new generous donations from the congregation and other churches towards 5UPPOrting our Minister in Training, with £14,749.62 given in 2024. £18,825.50 was received as Gift Aid income from HMRC for donations {2023= £18,174.49). The vast majority of tax-payers within the church who donate regularly are members of th8 Gift Aid scheme. The ¢hurch r8C8iv8d £10,800 from renting out the Forglen manse in 2024. Income from room hire was £7,992.70. Many thanks to the members of the congregation who make rt possibl8 to open the church for these events. The Congregation was able to remit £51,941.98 to central church funds (2023 = £45,287.36). This amount met the full Minisiry and admin costs set by the Church, as well as a contribution towards our mission levy-, we were unable to remit our full mission levy due to the increases in th8 everyday running of the church. The Congregation repaid £39,808.48 including interest towards the church building loan for Kilmallie. Following a generous one-off donation towards repaying the building loan (included in this figure), the loan will now te fully r8paid 19 months earlier Ihan planned. Th8 Ministers stipend is paid by the Free Church of Scotland in Edinburgh. The church was able to makè donations in 202410 a number of organisations.. Compas$ion.' £384 supporting a girf in Haiti. Asia Link.. £200. Oswestry Free Church Camp: £300 towards carnp leaders, fees, and £1,058.96 towards acttvities on the camp. Tearfund Big Quiz Night.. £433.46 ission partner$ in Greece): £625.98 Funding has also been re¢eived towards supporting our Minister In Training, in his role. The congregation have generously given. as well as grants from the Ffee Church of Scotland1£5,500) and the Inverness, Lochaber and Ross Presbytery {£4,0001. 2024 Saw the refurbishment and re-opening of the Acharacle Church. Grants were received from several organisations including Congregational and General, the Benefact Trust, the Fynsh Foundation and Digital Connect Scotland. The grants received totalled £49,926.86. £47.580 wa5 also transferred from the funds held centrally on tehalf of Kilmallie and Ardnamurchan Free Church at the Free Church of Scotland in Edinburgh. Brought forward funds of £47,861.63 were also used towards the refurbishment. The total cost of the refurbishmenl was £145,616.20, broken down as follows: Building refurbishment work= £112,739.62 AV equipment= £15,876.66 Chairs = £12,537.36 Misc811aneous, including insurance, lectern, asbestos SUlV8y, building warrant and architect = £4,462.56 Under the Statement of Assets, Acharacle Church has been revalued following the refurbishment in 2024, now valued at £575,000 for the building and £75,000 for contents. The sale value of Kilchoan church is now shown on the same sheet but under Funds held by the Free Church of Scotland Central offi￿ in Edinburgh. In the 2023 accounts, the conference room rental to local businesses and charities at Kilmallie was recorded incorrectly as restricted in¢ome. This should have in fact been recorded as designated income. An amendm8nt to reflect this has been made in th8 2024 accounts. The intention of the Confe￿nCe rental income has always been to assist with the rèpayment of the Kilmallie building loan, therefore this incom8 has then been transferred to the Building and Maintenan¢& fund towards repaying the Kilmallie building loan, as shown in th8 accounts. Principal sources of funding The congregation receives its funding by way of standing orders, weekly offerings and Gift Aid donations. The church building is also hired out to groups and businesses during the week from which the church receives a rental income. In 2024, the church also received a number of grants towards supporting our Minister In Training and towards the refurbishment of the Acharacle church. KILMALLIE AND ARDNAMURCHAN FREE CHURCH OF SCOTLAND Notgs to the Accounts Forth8 year onded 31 DeG•mb•r 2024 1. Basis of Accounting These accounts have been prepared on the Re￿IPtS and Payments basis in accordance with the Charities and Trustee Investment (Scolland) Account 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Deacons, Court agreed to prepare Receipts and Payments accounts from 2020 and have tried to their best endeavours lo calculate the figures to match this basis. VAT The congregation is not registered for VAT and expenditure includes VAT where applicable. Tax Refunds Tax refunds shown in the Income and Expenditur8 Account are the lax refunds received from HMRC in respect of Gift Aid donations 2. Natur? and purpose of funds For the purpose of the Receipts and Payments account as shown, funds are defined as follows- Unrèstrictèd funds are those that may be used at the discr8tion of the trustees in furtherance of the objects of the charity. Desi The nated funds are unrestricted funds set aside for a specrfic essenlial or future purpose. rdnamurchan fund is a designated fund. Restricted funds are those which have been received for the objects of the Gharity and specified for a restricted purpose wilhin these objects by the donor. The funds include the Building and maintenance fund, Acharacle General reslricled fund, Acharade restricted building fund, Jelly Tots, Youth Work and the fund lo support our Minister In Training. Fixed Assets." The congregation owns the Kilmallie and Acharacle church buildings, as well as the Camaghae5 manse, Banavie and residential property Forgl8n, Old Banaviè Road, 8anavie. The manse was informally valued by Court members at 31st December 2020, on the basis of sales of similar properties, al £290,000 and Forglen al £270,000. Both properties are shown at these amounts in the Balanc8 Sheet. The mans8 is insured for £1,000,000, Forglen for £1,000,000, Kilmallie church for £1,548,840 and Acharacle church for £466.764, and the church Contents for £158,189 and £40,070 respectively 3. Related Party Transactions No remuneration was paid to the trustees. The Minister re￿IVeS his stipend paid from the Free Church of Scotland in Edinburgh and the Finance Assistant's and Ministe" 'n Tp?iiiY-. 's salaries are paid centrally from the local church funds. £1.058.96 was given I following collections for the Osweslry Free Church camp. This was used towards funding activities at the camp and accounts therefrom wer8 submitted to the Free Church of Scotland, Edinburgh. tfjlmallie and Ardnamurchan Free Church of Sci)tland (harlty Number SCU38140 R¥celpt5 and Payments Account Far the YEar Endto 315t December 2024 Unrtstricted Funds Restorted Funls Oes18n#Te Total 2024 Totsl 2D23 PECEIPTS DpD¥Uons,6￿Thts￿ Lesades 01{¢littgJ 55,246 42,Tr) 4.84) Z,5 95.D 18,826 18.174 Donatl&ns-CorrourFoundaiivn Donations- FA1T￿lyD￿th Workl Donptlons. 5¥fi3and Yuikey Earnh4uakeAppeil DDnatioThs-51wi¢G05pel Also￿￿tiOn DonatlQD5-Yuuth Work 249 1.117 io DoTrations-Wirrn 3x1 Issjon Work 627 43S 243 816 L4,7YJ 627 Qon3tlQn5- ThUrsdtyTDdd1t￿su Churthcafflp 916 14,750 FUnd￿SIn& BoDks&MagaiinEs CTrfrGroupSub5 CfaftGroup SèSes Fellow5hipLuDthÈs Amazonsmble InvestThEnts Intereston lunds held by Edifflbur8h tsth•r Incorne 665 1,3 L350 27 ?.8n 2.lgo 7.%3 low) CDnlèYèrtcÈ Aoom Hir• l1tèllan￿ 244 1410 244 L142 L410 GT?nts to Supp)rt Role of Mnistef InTrainln8 GNTrts forAtharade r8furb15hmefjt GTètht5 forAth?tade AV replècement Pa¥mÈhtrectived frDmthe 5Ble afthE Kilihoèn IS,8r/ Totsi Re¢eipts PAYfvEMTS Fundrai5ingE¥pEnsEs 22 24 16 Surn Uplp85 (Gen￿21 F￿> GeDeiJl Adwt1es V￿llIng YPèèk8f Èxpenses Salan85 t￿¢￿111￿9 ¥w8kÈfÈArMses- Genth71 Minrslerln Trnin IlllSl*s Expenses- G&% for Ithanse Minisitrs Exw$es- ￿1￿￿8 aid Broa1bt￿d Inisie¢s Expenses- Book5 lJinisi&s Expenses- Car Mile4¢ Minisie¢s Expense$- Mis¢ell8neQUS Coun￿1 Iwater Manse Heating Property. ￿intenan￿ and Cleaning and MÈffttenaxe- Forglgn REpaws A(￿le[@￿rtH￿hment n9 719 7,981 20,591 10.828 7,981 20.591 LW3 3.679 216 45 953 244 266 42 24S 303 1.787 1.(67 3.138 L392 715 2.737 L392 7,552 858 86,117 28.024 114.141 Insvrantè Churth HeatinB& Li8hlin8 JellyTots &YDuthWr&Tk Churth fjeneral Funds LI￿nCeS and Other Feès Phohe &CommunicJtion Book5. 5tstionery and M)8azine5 3.975 6.(￿5 8,951 1,169 45.287 1,6 2.418 $73 5L942 51.ty12 223 331 Presbytery thJes Sundrie5- Kitchen 2.176 L148 13.331 170 1.819 3.875 791 Sundrie5- MIS￿11a￿t0us 11971 Ach￿leAv system Lo?n Repayment Grantand Donatbons ,877 15.877 Comp?SSiOn Portree and Bracadale Flee Church. New knild Ardn4myr¢han PanshChurth- New Build SvrièèndTurke¥Earthquake Appeal 352 249 Misty Glen BèbyBank Foodbank As￿ knnK FC¢45- Fr9e¢h￿tth Camp Leade￿ Fees 05￿51ry F￿2 Ch￿rth Cemp (l￿ra m￿clI1v￿y1 TealL￿- Big Quii NwJht m￿1. soffia Ling han ￿8h fDr kh)SPrtalrty forAnRrGwVi¥l(rf& Loan Charges& StknJtoryFees 203 IL I059 433 626 L(￿9 Othei Piymetstfmm Central offi￿ Funds 15 Total Payments 124 839 10 Rppiesenied by. CurT¢rrtA55ets Unres$r￿IedrUrt￿s Rc5trrtedfunds. Road toREtovEty 8ui1ding& fwbLnttnantr Fund HDlidayClub Vouth Work&JellyTots ThursdayTod41e Acha[ade euildin8 Fund CTrftGroup Achèrnd? GEn2rn1 Fund 53.918 31918 s8,￿5 4.195 aL7 7.874 179 12681 3.591 I8￿) 4,iys 11.709 ?.874 179 7,874 6,243 AchaTadeAV O¥w*SIry FfE¢ (*ur¢Tr￿p CoriwrFoundèt on 418 Il914 LTrE5wJ￿aIf￿1u￿éS. Ardnamur¢han Fund5 Intereston Fund4 held by Edinburyh la3,485 5,*36 2.￿2 8. 169. 33,918 49.764 137,1¥3 21C.765 29a.735 Kilmallie and Ardnamurchan Free Church of Scotland Statamgnt of Balan¢g8 As at 31$1 Deeember 2024 2024 NDte5 Op4ning klancgs rrafisfer5 7&(B6 47,5&) 61.012 1500 CIosingBalantÈ Funds HEldatthe Central Offl¢¢ Opening Balance Surplus/lDeficitl fDryear 217,688 147,Wl 23),188 11g)Ji C1055ng Balance Toral th>neTaryA55e15 P*serves Unrèstricted Funds Unrestricted FuDds- Central Officé I rbsiinated Funds- Ceniral OfficÈ Restricted Funds signated Fund5 14,t691 a8,587 13L541 39,764 85,147 1.541 28,251 210 765 From saleof Kilthoan MBn5e- these fund5are to bÈnÈfltihe woik in Ardnamurthan. From sale of Kilthoan FreE Churth É47,Wwastranslèrrèd from tho fund5 held centrally by EdTDbur8h tothe lool Chuich account to fund the AthaTacle iefurb15hmÈnt S*• statementof A55tts Kilmallie fvtsnse Acharade euildin8 Acharade CoDtentS Kilma11ie Free Church 8tslldifig Fvr8len Buildln8 290.(ts) 575.CXf 75.LW 65S.111 I￿,519 655,111 In¥tstrnents share Pwl Unit5- 1413 5945ustentaiion Endowments- £3,418 Susteatation End(wmènts- Atharèclèl Stiontia)- £3,361 235SustpntatioTh Endowments-Ardnamurchan- EL352 Uabllltles FFee Churth Df S¢otl8nd- KilmalliÈ New Build 15 AoDroved bv rhe Trustees 3nd 51ined on theirbehalf bythe undeiDoied.. Kilmallie and Ardnamurchan Free Church of Scotland Notes As at 31st De¢ember 2024 l Tanglble FIKed Assets A5 listed in the stltementof assets, the conEregètion ownsthe undernoted buildings:. Kil￿a]lle Free Church Acharacle Free Church Kilmallie Free Chtsrch fvknse Forg￿2￿ Manse 2 TThns•ctlonswlth Trustees There were notrans3Ctions with Trusteès duringthe year. 3 BaTrkAttounts/other 2024 2023 Opening Balances Treasurers Account Pay Pal Pettycash 73,803 2.233 59,074 1,878 61,012 Closin8 Balan￿S Treasurer5 Account Pay Pal Petty Cash 37,695 2,881 2.233 40,636 76,L86 4 Arnounts h•ld by t￿ Cantrnl Churth Funds held as Cash 170,128 217,688 5 Unrestrlrted F￿TrdS Balance at 1st January 2024 Balantr bt Resources Transfers 3tst DeTrmber Expended 2024 Incomin8 Resources Unre5trlded Funds 88,755 79,831 86.608 48, 33.918 The Unrestricted Fund encornpèsses all income and expenditure relating to the primaryfocu5 artivities of the charity, otherth#n those forwhich funding 15 festricted 01 designatÈd. 13 6 R¥£trfct•d Funds 8alance at Balan¢e at Resource5 Transfers 31st December Expended 2024 t January Incoming Resources 2024 Road to Recovery Buildin8 & Maintenance Fund oliday Club, Youth Wgrk. JellyTots Thursday Toddlef5 Acharacle 8uildlnE Fund Craft Group Acharacle Generdl Fund Acharacle AV A513 Link 0s￿estry Free Church Camp Tearfund 4,195 1,192 7,874 4,195 11,7C8 7.874 179 44,388 250 243 141.8641 12501 IE41 140,5611 14541 11,9571 115,8771 IiC61 18161 14361 16271 7,993 6,243 l.P47 18151 34,050 2,658 1,957 15,8 12(41 3,591 18151 I￿0) 816 627 Corrour Foundatio 418 15( 119181 305 6,872 Y15 1.5 Tuldl A¥stiicted Funds 129.483 126 962 8,993 7 D•siKnat•d FUNIS 8alance at 1st january 2024 tylance at Resources Trènsfers 31st DecÈmber Expended 2024 Incornin Resources Ardnamurchan Fund Interest on Funds held by Edinbur¢h ForElen- Propertv Repairs Fund Conference Room HSre 169,363 5.996 L420 IB7,9381 47,08A) 128.485 lif4) 7.993 19781 Total Designated Funds 176 779 39, 137,083 The Ardnamurchan Fund Is mède up of the Kilchoan Church sale and Ardnamurchan designated fund (held by Free Church of kotland- Edinburyhl. 8 Bank A•conclllatlor TrÈasurers Account Pay Pal Awount Petty Cash Total Opening Ledger Balance 73,803 2,233 76,Q36 Re￿iptS Payments Central Funds Transfer Closin8 ledger Balan 218,736 1302,4041 730 219,466 1302,4861 37,695 2,881 Bank Ststetnent 31st De￿rnber2D24 37,695 1881 40,636 Outstanding lodiements.. Outstanding cheques.. 40,636 14 Kilrnallie and ArdnAmur¥hAn F'ree Church of S¢ntl*n Charity Number SC031$140 Independeni exgminer 8 ryort to the truste¢8 on the unaudited acci￿￿1$ rfKamaUie and ArdnamurLh#n r,ree Church Of￿0￿9nd, I rq￿rt on the ACCOUtstS uf knlmAllie And .4rdJiArtlllrchan F￿e Church olf coll2[￿ r(>r Ihe I'oxr ended.3141 r)ecember 2024 sei oul uii El)e prei'luus () pAges. R¢8p¢¢tsv¢ r¢Bponsiblliiie& of irusteeB and independent cxamin¢r 'Ihe ihpnl!"'5 TwsleE% Are respoL15Jble fnr tl)¢ prcpAii¢m ol the Accounty in dl[CVTaAn¢r li'Lth the tetm8 of rlie ChRrilieS And T*w*iee In4-e%Tmenl18i()IIAttJ) -4£t 200.7 Ail(l il)e ChAnlke5 il¢touni% l%cotlan(D Re8vlalinns 2tM)6. 'fhe chfirih" rrllsttes consider thAt the 8udit regujytmcnt olRegulatLon 11)111 IA) to (cl of rhe .Iccou1114 Re￿lA11￿1)S doc5 llnt Appl!.. It m!. r¢s￿nSi1}illI!. tcF e¥amLiiC thc RfLuUJlt8 as rcqu￿Cd UiiaeT yettiort 4411) Icl of ihc .Icl tu StAt¢ ii-heiher PArtici?IAr m%iiers liAI'e iolme 10 tni" Altcnriort. Ba$1$ of irtdtpendtnt examiner 4) $tst¢m¢ni l!- eYainyiiAtIOJl IS CRtrJtd oui in ACinrd8nce Ryjth Re&il%titsn I l al Ihe r.IiAriries .l¢cnvni% l£ca(IAndl R¢.￿[￿tI￿Lis 2006. n ¢'¥Rmirt*tion includcs R reTr-ieTh" <)rtlie ACCOUntin% reco￿8 kept bl- the ¢hxrrit!' And A compan50n of the Accniint pre8L'nl<.a %¥'iili thvye ￿L￿[d5. li Al￿) Jjitludtg c(hnsidtrxtion r)(an!' unu5yxI itLmS Ot disclosurey Lii Ihe %CCOUnf5, RLid seck5 eTplxnatio(25 from i￿%ite$ cnn¢eminA An!- such M￿rter4. The proiedures UL)dYrtAkeil do Lior ￿[￿-Ide All rhe ￿.1￿£11( thfil ￿.0￿ld bt tequjred In Rutht. and cons4uend!- I do t]ol eNpr¢55 opinioi) on ihe iriew bi. the A¢i4)UJlts. Indtpettdent exArntncP* sf#icmeni ionnecti