Charity registration number: $C049742
Sanquhar Enterprise Company f \ Annual Report and Financial Statements for the Year Ended 30 November 2025
Alan Daubney 32/34 High Street Sanquhar DG4 6BL
. Sanquhar Enterprise Company
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|---|---|---|---|
|,|Contents|(continued)|
|Reference and Administrative|Details|1|
|2|to3|
|Trustees'|Report|
|Statement of|Trustees' Responsibilities|4|
|5|
|‘Independent Examiner's|Report|
|Statement ofFinancial Activities|6|
|7|
|Balance|Sheet|
|Notes to the Financial|Statements|8 to|13|
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oo
Sanquhar Enterprise Company
| oo | Sanquhar Enterprise CompanyEnterprise CompanyCompany |
|---|---|
| Reference andAdministrative Details | |
| Trustees | NancyKirkpatrick |
| , | JanNisbet |
| LisaBlack | |
| . | KeithWilson |
| JamesDempster | |
| Norman Burns | |
| Brian Johnson | |
| JimMarshall | |
| Dane Harkness | |
| CharityRegistrationNumber | SC049742 |
| PrincipalOffice | 106High Street Sanquhar |
| DG4 6BL | |
| IndependentExaminer | AlanDaubney 32/34High Street |
| Sanquhar | |
| DG46BL |
Page 1
: . Sanquhar Enterprise Company
So
Trustees’ Report
The trustees present the annual report together with the financial statements of the charity for the year ended 30 November 2025.
Objectives and activities
- ) - .
Objects and aims
The charitable purposes are; «The advancement of citizenship or community development. *The provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended. The relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage.
Structure, governance and management
Financial instruments
Objectives andpolicies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity tisk. The use of fimancial derivatives is governed by the charity’s policies approved by the board of trustees, _which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. .
Cashflow risk
The charity’s activities expose it primarily to the financial risks ofchanges in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. |
‘Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. : Furtherstatements.details.— regarding liquidity risk can be found in the Statement of accounting policies in the financial
The annual report was approved by the trustees of the charity on 26 February 2026 and signed on its behalf by:
Page 2
Sanquhar Enterprise Company
Trustees’ Report (continued)
James Nempster Trustee
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Page 3
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- Sanquhar Enterprise Company
7
i .
Statement of Trustees’ Responsibilities
The trustees aré responsible for preparing the trustees' report and the financial statements in accordance withthe United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which givea true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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- select suitable accounting policies and then apply them consistently;
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¢ observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures
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. disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that 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 and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the constitution. The trustees 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 26 February 2026 and signed on its behalf by:
,
James\Qempster Trustee
Page 4
Sanquhar Enterprise Company
Independent Examiner's Report to the trustees of Sanquhar Enterprise Company
I report to the trustees on my examination of the accounts of Sanquhar Enterprise Company for the year ended 30 November 2025.
Responsibilities and basis of report
As the charity trustees of Sanquhar Enterprise Company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). You are satisfied that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply.
| report in respect of my examination of the Sanquhar Enterprise Company's accounts carried out under section 44 (1)(c) of the 2005 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
Since the charity has prepared its accounts on an accruals basis and is also registered in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Sanquhar Enterprise Company as required by section 44(1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006 (as amended); or
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the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). ;
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 accounts to be reached.
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Alan ul
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ICAS
32/34 High Street Sanquhar DG4 6BL
26 February 2026
Page 5
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Sanquhar Enterprise Company
~ Statement of Financial Activities for the Year Ended 30 November 2025
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|---|---|---|---|---|---|
|,|Unrestricted|Restricted|Total|
|re|Note.|funds£|funds£|2025£|
|Income|and Endowments|from:|
|Donations and legacies|2,180|160,488|162,668|
|Total|income|.|2,180|160,488|162,668|
|Expenditure|on:|
|Charitable activities|-|(207,242)|(207,242)|
|Other expenditure|4|-|(1,475)|(1,475)|
|Total expenditure|-|(208,717)|(208,717)|
|Net income/(expenditure)|2,180|(48,229)|(46,049)|
|Net movement in funds|2,180|(48,229)|(46,049)|
|Reconciliation|of funds|
|Total funds brought forward|3,515|244,270|247,785|
|Total funds|carried forward|11|5,695|196,041|201,736|
|,|Unrestricted|Restricted|Total|
|-|funds|funds|.|2024|
|Note|£|£|a|
|Income and Endowments|from:|
|Donations and legacies.|‘=|291,140|291,140|
|Total income|-|291,140|291,140|
|Expenditure|on:|:|
|Raising ‘funds|-|(2,599)|(2,599)|
|Charitable|activities|(20)|(129,318)|(129,338)|
|Other expenditure|4|-|(400)|(400)|
|Total expenditure|(20)|(132,317)|(132,337)|
|Net (expenditure)/income|(20)|158,823|158,803|
|Net movement in funds|(20)|158,823|158,803|
|Reconciliation|of funds|
|Total funds brought forward.|3,535.|85,447|88,982|
|Total funds|carried forward|11|3,515|244,270|247,785|
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All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 11.
, , The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
oe
Sanquhar Enterprise Company .
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a (Registration number: 12345) De _ Balance Sheet as at 30 November 2025 .
.
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| . | Note | £ | £ | . | ||
| Fixed assets Tangibleassets |
9 | 58,453 | “1,199 | |||
| Current assets Cashatbankandinhand |
10 | 143,283 | 246,586 | |||
| Netassets | ; | 201,736 | 247,785 | |||
| Funds ofthe charity: | ||||||
| Restricted income funds Restrictedfunds |
196,041 | 244,270 | ||||
| Unrestricted income funds Unrestrictedfunds |
5,695 | 3,515 | ||||
| Totalfunds | it | 201,736 | 247,785 |
Total funds
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 26 February 2026 and signed on their behalf by:
James Nempster Trusté ;
:
, oo, . The notes on pages 8 to 13 form an Pageintegral7 part of these financial statements.
, ;
Sanquhar Enterprise Company
,
- Notes to the Financial Statements for the Year Ended 30 November 2025
1 Accounting policies
:
Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommendéd Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation Sanquhar Enterprise Company meets the definition of a public benefit entity under FRS 102. The accounts (financial ‘statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
GoingThe trusteesconcernconsider that there are no material uncertainties about the charity's ability to continue as a going concer. . , . . Income and endowments ; Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. a sO, ,
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been-met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raisingfunds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
,
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ;
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Page 8
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. Sanquhar Enterprise Company Notesto theFinancial Statements for the Year Ended 30 November 2025 (continued)
Support costs. - Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs — These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation . The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act'1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost. ,
Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
‘Asset class Depreciation method and rate Office equipment 25% reducing balance method Buildings 2% straight line method -
Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2 Income from donations and legacies
Page 9
Sanquhar Enterprise Company
[(continued)] Notes to the Financial Statements for the Year Ended[30][ November][ 2025]
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|---|---|---|---|---|---|---|
|ot|Unrestricted|.|;|
|funds|—|Restricted|Total|
|‘|General|funds|funds|
|a|£|£|£|
|Grants,|including|capital grants;|
|Grants from other charities|2,180|160,488|162,668|
|Total for 2025|2,180|160,488|___|162,668.|
|-|291,140|291,140|
|Total|for 2024|
|3° Expenditure on charitable|activities|.|,|
|Unrestricted|
|.|funds|Restricted|Total|
|.|General|funds|funds|
|:|..|.|Note|£|£|£|
|Expenditure on projects|-|168,396.|168,396|
|Allocated support costs|-|38,806|38,806|
|Governance|costs|-|40|40|
|-|207,242|207,242|
|Total|for 2025|
|Total for 2024|20|129,318|"129,338|
|4|Other expenditure|Restricted|Total|
|funds|funds|
|Note|£|£|
|Depreciation, amortisation and other similar costs|1,475|1,475|
|Total for 2025|1,475|1,475|
|Total for 2024|400|400|
|5|Analysis|of governance and|support|costs|
|Governance costs|;|,|
|Unrestricted|
|funds|Restricted|Total|.|
|et,oe|General|funds|,|funds|
|Other governance|costs|-|-|40|-|40|
|Total for|2025|-|40|40|
|Total for 2024|20|1,202|1,222|
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Page 10
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Notes to the Financial Statements for the Year Ended 30 November 2025 (continued) :
Sanquhar Enterprise Company
6 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
7 Independent examiner's remuneration
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2024
£
Examination ofthe financial statements 780
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Page 11
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Notesto the Financial Statements for the Year Ended 30 November 2025 (continued)
Sanquhar Enterprise Company
8 Taxation
The charity charity is a registered charity and a registered charity and registered charity and charity and and is therefore exempt from taxation. therefore exempt from taxation. exempt from taxation. from taxation. taxation.
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|The charity charity|is a registered charity and a registered charity and registered charity and charity and and|is therefore exempt from taxation. therefore exempt from taxation. exempt from taxation. from taxation. taxation.|.|
|9|Tangible|fixed assets|
|Land and|Computer|
|buildings|equipment|Total|
|£|£|£|
|Cost|
|At|1|December 2024|-|1,599|1,599|
|Additions|58,729|-|58,729|
|At 30 November 2025|58,729|1,599|60,328|
|Depreciation|
|At|1|December 2024|-|400|400|
|Charge for the year|1,175|300|1,475|
|At 30 November 2025|1175|.|700|1,875||
|Net book value|
|At 30 November 2025|.|57,554|899|58,453|
|At 30 November 2024|-|1,199|1,199|
|10|Cash and cash|equivalents|
|2025|2024|
|Cash at bank|;|£143,283|246,586£|
|11|Funds|
|Balance|at 1|Balance|at 30|
|December|Incoming|Resources|November|
|2024|resources|expended|2025|
|£|£|£|£|
|Unrestricted|funds|
|General|3,515|2,180|-||5,695|
|Restricted funds|244,270|160,488|(208,717)|196,041|
|Total funds|_|247,785|162,668|(208,717)|201,736|
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Page 12
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Sanquhar Enterprise Company
Notesto the Financial Statements for the Year Ended 30 November 2025 (continued)
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|||||||
|---|---|---|---|---|---|
|Balance at 1|Balance at 30|
|December|Incoming|Resources|.|November|
|,|
|2023|resources|expended|2024|
|£|£|£|£|
|Unrestricted|funds|—|
|General”|3,535|-|(20)|3,515|
|Restricted|fands|85,447|291,140|(132,317)|244,270|
|Total funds|88,982|291,140|(132,337)|247,785|
|12|Analysis|of net|assets between funds|
|Unrestricted|Total funds at|
|funds|Restricted|30 November|
|General|funds|2025|
|£|,|£|£|
|Tangible|fixed assets|+|59,628|59,628|
|Current assets...|5,695|137,588|143,283|
|Total net assets|5,695|197,216|202,911|
|Unrestricted|_|Total funds at|
|.|
|°|funds|Restricted|30 November|
|ee|General|funds|2024|
|£|£|£|
|Tangible fixed assets|-|-|1,199|1,199|
|Currentassets|3,515|243,071|246,586|
|Total net assets|3,515|244,270|247,785|-|
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Page 13
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Sanquhbar Enterprise Company
Statement of Financial Activities by fund for the Year Ended 30 November 2025
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|---|---|---|---|---|
|Total|.|Total|
|Unrestricted|Unrestricted|
|Funds|Funds|
|2025|2024|
|£|£|
|Income|and Endowments|from:|
|Donations and legacies|2,180|-|
|Total income|2,180|-|
|Expenditure|on:|
|-|(20)|
|Charitable|activities|
|-|(20)|
|Total|expenditure|
|Net income/(expenditure)|2,180|(20)|
|Net movement|in funds|-|2,180|(20)|
|Reconciliation|of funds|
|Total funds brought forward|3,515|3,535|
|Total funds|carried forward|5,695|3,515|
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; This page does not form part ofPagethe14statutory financial statements. .
oO
Sanquhar Enterprise Company
;
Statement of Financial Activities by fund for the Year Ended 30 November 2025 (continued)
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|---|---|---|---|
|Total|.|Total|
|;|Restricted|Restricted|
|Funds|Funds|
|2025|2024|
|;|£|£|
|Income|and Endowments|from:|
|Donations and legacies|160,488|291,140|
|Total income|160,488|291,140|
|Expenditure|on:|
|Raising funds|-|(2,599)|
|Charitable activities|(207,242)|(129,318)|
|Other expenditure|(1,475)|(400)|
|Total expenditure|(208,717)|(132,317)|
|Net (expenditure)/income|(48,229)|158,823|
|Net movement|in funds|(48,229)|158,823|
|Reconciliation|of funds|
|Total funds brought forward|244,270|85,447|
|Total funds carried forward|196,041|244,270|
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This page does not form part of the statutory financial statements. Page 15
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Sanquhar Enterprise Company
Detailed Statement of Financial Activities for the Year Ended 30 November 2025
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|---|---|---|---|---|
|:|Total|Total|
|2025|2024|
|£|£|
|Income|and Endowments|from:|
|Donations|and legacies (analysed below)|162,668|291,140|
|Total income|162,668|291,140|
|Expenditure|on:|
|Raising funds (analysed below)|-|(2,599)|
|Charitable|activities|(analysed below)|(207,242)|(129,338)|
|Other expenditure|(analysed below)|(1,475)|(400)|
|Total expenditure|(208,717)|(132,337)|
|Net (expenditure)/income|(46,049)|158,803|
|Net movement|in funds|(46,049)|158,803|
|Reconciliation|of funds|.|
|Total finds brought forward|247,785|88,982|
|.|201,736|247,785|
|Total funds|carried forward|
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— oe, This page does not form part of the statutory financial statements. Page 16
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Sanquhar Enterprise Company
Detailed Statement of Financial Activities for the Year Ended 30 November 2025 a (continued)
| . ae |
Total 2025 |
. | Total © 2024 |
||
|---|---|---|---|---|---|
| £ | £ ; |
||||
| Donationsandlegacies Grants-otheragencies Grants -otheragencies |
160,488 2,180 |
291,140 - |
|||
| 162,668 | 291,140 | ||||
| Raisingfunds | |||||
| Advertising Travelling Insurance Telephoneandfax |
- - - - |
(304) (1,551) (555) (189) |
|||
| - | (2,599) | ||||
| Charitable activities Directcosts Wagesandsalaries Sundryexpenses |
(168,396) (38,806) (40) |
(107,498) (20,618) (422) |
|||
| Sundryexpenses Independentexaminer's fee |
: | - - |
- (20) (780) |
||
| (207,242) | (129,338) | ||||
| ' | Otherexpenditure | ||||
| Depreciationoffreeholdproperty Depreciationofofficeequipment |
(1,175) (300) |
- (400) |
|||
| (1,475) | (400) |
)
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; This page does not form part of the statutory financial statements. Page 17