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Annual Report2015

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Company registration number: SC356041

Charity registration number: SC022411

The Leprosy Mission Scotland(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 December 2015

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St Vincent Street

Glasgow

G2 5JF

The Leprosy Mission Scotland

Contents

Reference and Administrative Details 1

Trustees' Report 2 to 3

Trustees' responsibilities in relation to the financial statements 4

Independent auditor's report 5 to 6

Statement of financial activities 7

Balance Sheet 8

Notes to the financial statements 9 to 16


Reference and Administrative Details

Charity name The Leprosy Mission Scotland

Charity registration number SC022411

Company registration number SC356041

Registered office Suite 2, Earlsgate Lodge

Livilands Lane

Stirling

FK8 2BG

Trustees Mr J D Barr

Mrs M Francis, Chair

Mrs A Muir (resigned 6 June 2015)

Rev L Murray

Mr D Simpson, Treasurer

Mr J Twynam-Perkins

Mr J McMillan

Ms Shona Leisk (appointed 6 June 2015)

Chief executive officer Miss L Todd, C.E.O.

Secretary Miss L Todd, C.E.O.

Solicitor Holmes Mackillop

109 Douglas Street

Glasgow

G2 4HB

Bankers Barclays Bank plc

The Royal Bank of Scotland plc

CAF Bank Ltd

Auditor McLay, McAlister & McGibbon LLP


Glasgow

G2 5JF

Page 1


Trustees' Report

The trustees, who are also the Directors of The Leprosy Mission Scotland (TLMS), have the pleasure in presenting their

report and financial statements for the year ended 31st December 2015.

Structure, governance and management

The day to day management of the charity is delegated to the C.E.O. who attends all meetings of the Board of Directors

but does not vote. Sub committees of the Board, which include a Nominations Committee and Finance Committee,

operate under the delegated authority of the Board. All trustees are subject to a comprehensive induction programme and

skills analysis to determine training and development needs.

The Finance Committee recommended the attached financial statements to the Directors for approval.

Risk Review

The Directors take steps to protect the charitable company from avoidable risks through a process of rigorous scrutiny and

review of the company's actual and potential activities, and are satisfied that adequate safeguards are in place to mitigate

exposure to major risk.

2015 saw the completion of the new TLMS Strategy for the period 2016 – 2020. The four new strategic objectives are: i.

Global partnerships; ii. Raising resources - money, people and prayers; iii. Education and advocacy; and iv. Growth and

learning.

TLMS acknowledge God’s provision through the churches and individual supporters and we remain committed to

developing and expanding these.

Achievements, Performance and Plans for the Future

Financial Analysis

Total income for the year was £689k. The highlight for the year was voluntary income at £317k (excluding the special

Nepal earthquake appeal) which was ahead of budget by 14% and last year by 11%. The development of this area remains

a key goal for the charity. The Nepal appeal contributed a further £59k and also raised the profile of the work of the

charity. TLMS also received a Scottish Government grant of £97k which was specifically directed to the Bangladesh

project.

Our main streams of income continue to be from individual donors, churches, community groups, legacies and Scottish

Government grants. Remittances to The Leprosy Mission International during the year totalled £460k. This was £55k

higher than budget due to the Nepal appeal. We continue to target a sustained and gradually increasing remittance in order

to best facilitate planning and development in implementing countries.

Reserves Policy

Unrestricted funds are maintained at a level that will enable the charity to fund its on-going operations for a period of

three months. This level is set and approved by the Directors with the actual level being reviewed on a quarterly basis.

Additionally, there is a Project Reserve where TLMS has agreed with the wider TLM Fellowship to hold a minimum of

5% of forecast remittances. This minimum level is 19k (2014: £20k). The reserves policy is kept under regular review.

Highlights of 2015

2015 has been another year of blessing for the work of The Leprosy Mission Scotland.

As a result of the devastating earthquake in Nepal in April 2015, injured people came to The Leprosy Mission hospital in

Anandraban where generous donations from Scotland and around the world provided thousands of people with medical

and humanitarian aid. Shovakhar Kandel, Country Leader for The Leprosy Mission Nepal wrote to say thank you to

Scotland saying “without you, we could not have saved so many lives.”

Stuart McAra, Communications Manager at TLMS, attended the inaugural Africa Learning Conference in September,

organised by TLM England & Wales and attended by colleagues from all over Africa. TLMS sponsored the attendance

from our key partner in Angola. The learning from this event is influencing the direction of travel within each country.

Stuart then travelled to Nigeria to visit projects funded by TLMS to gain greater understanding and collect promotional

materials for our fundraising.

TLMS Vision Day in September 2015 brought together TLM Country Leaders from Bangladesh, Nepal and South Sudan

with TLMS trustees, key volunteers and fundraisers to share their stories and experiences of the projects being supported

by TLMS.

Page 2


Trustees' Report

The Board

The Board continue to seek to be as effective and focussed as possible. The Board acknowledge and thank the CEO and

staff of TLMS for their constant hard work over 2015 and their on-going commitment and enthusiasm.

The work of TLMS is only possible with the support of many hundreds of volunteers, local churches, community groups,

young people, individuals and organisations. We acknowledge the great kindness and contributions of so many across

Scotland to support people affected by leprosy. As a Board, we are very grateful and thankful for this massive effort made

by so many.

Future Plans:

•To actively partner with TLM Fellowship Members and other relevant organisations with the aim of defeating

leprosy and transforming lives.

•To generate and utilise income, volunteers and prayer to benefit programmes that cure, care for restore people

affected by leprosy, constantly making sure we are as efficient as possible in all our operations.

•To engage people and organisations across Scotland with the need to defeat leprosy and transform lives in 21st

century.

• To develop the abilities of strategic partners to contribute effectively to the success of our global mission.

Disclosure of information to the auditor

In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is

unaware: and the trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit

information and to establish that the auditor is aware of that information.

Reappointment of Auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of McLay, McAlister and

McGibbon LLP as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 4 June 2016 and signed on its behalf by:

.........................................

Mrs M Francis

Trustee

Page 3


Trustees' Responsibilities in relation to the Financial Statements

The trustees (who are also directors of The Leprosy Mission Scotland for the purposes of company law) are responsible

for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the United

Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view

of the state of affairs of the charitable company and of the incoming resources and application of resources, including

income and expenditure, for that year. In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed

and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable

company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time

the financial position of the charitable company and enable them to ensure that the financial statements comply with the

Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland)

Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and

hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditor is unaware; and

- the trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit information

and to establish that the auditor is aware of that information.

Page 4

Independent Auditor's Report to the Trustees of


We have audited the financial statements of The Leprosy Mission Scotland for the year ended 31 December 2015 which

comprise Statement of Financial Activities, the Balance Sheet and related notes. The financial reporting framework that

has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities

(Effective January 2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006 and to the charitable trustees, as a body, in accordance with Section 44(1)(c) of the Charities and

Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as

amended). Our audit work has been undertaken so that we might state to the charitable company's members and its

trustees those matters we are required to state to them in an auditors' 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, the charitable

company's members as a body and its trustees as a body, for our audit work, for this report, or for the opinions we have

formed.

Respective responsibilities of trustees and auditors

As explained more fully in the Trustees' Responsibilities Statement set out on page 4, the trustees (who are also the

directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial

statements and for being satisfied that they give a true and fair view.

We have been appointed as auditor under section 44 (1)(c) of the Charities and Trustee Investment (Scotland) Act 2005

and under the Companies Act 2006 and report to you in accordance with regulations made under those Acts.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and

International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices

Board's (APB's) Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give

reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

This includes an assessment of: whether the accounting policies are appropriate to the charitable company's circumstances

and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made

by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and

non-financial information in the Trustees' Report to identify material inconsistencies with the audited financial statements

and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the

knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2015 and of its incoming

resources and application of resources, including its income and expenditure, for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable

to smaller entities; and

- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee

Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Opinion on the other matter prescribed by the Companies Act 2006

In our opinion the information given in the Trustees' Annual Report for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Page 5

Independent Auditor's Report to the Trustees of


......... continued

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006

(as amended) requires us to report to you if, in our opinion:

- the information given in the Trustees' Annual Report is inconsistent in any material respect with the financial

statements; or

- the charitable company has not kept adequate accounting records; or

- the financial statements are not in agreement with the accounting records and returns; or

- we have not received all the information and explanations we require for our audit.

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and

take advantage of the small companies exemption in preparing the directors report.

.........................................

Paul Martin

Senior Statutory Auditor

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

6 June 2016


Glasgow

G2 5JF

McLay, McAlister & McGibbon LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Page 6


Statement of Financial Activities (including Income and Expenditure Account) for the Year

Ended 31 December 2015

Unrestricted

Funds

Restricted

Funds

Total Funds

2015

Total Funds

2014

Note £ £ £ £

Incoming resourcesIncoming resources from generated funds

Voluntary income 2 460,638 125,602 586,240 726,759

Activities for generating funds 3 6,281 - 6,281 6,713

Investment income 4 26 - 26 113

Incoming resources from charitable activities 5 - 96,506 96,506 102,217

Total incoming resources 466,945 222,108 689,053 835,802

Resources expendedCosts of generating funds

Fundraising trading: cost of goods sold and

other costs 6 190,873 - 190,873 192,567

Charitable activities 6 312,176 245,292 557,468 538,908

Governance costs 6 11,022 - 11,022 17,185

Total resources expended 514,071 245,292 759,363 748,660

Net movements in funds (47,126) (23,184) (70,310) 87,142

Reconciliation of funds

Total funds brought forward 310,111 27,605 337,716 250,574

Total funds carried forward 262,985 4,421 267,406 337,716

The notes on pages 9 to 16 form an integral part of these financial statements.

Page 7

The Leprosy Mission Scotland (Registration number: SC356041)

Balance Sheet as at 31 December 2015

2015 2014

Note £ £ £ £

Fixed assets

Tangible assets 11 1,679 1,007

Current assets

Stocks 12 4,943 6,121

Debtors 13 77,942 126,160

Cash at bank and in hand 244,039 263,030

326,924 395,311

Creditors: Amounts falling due within

one year 14 (31,197) (58,602)

Net current assets 295,727 336,709

Total assets less current liabilities 297,406 337,716

Provisions for liabilities 16 (30,000) -

Net assets 267,406 337,716

The funds of the charity:

Restricted funds 4,421 27,606

Unrestricted funds

Unrestricted income funds 262,985 310,110

Total charity funds 267,406 337,716

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small

companies regime and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 4 June 2016 and signed on its behalf by:

.........................................

Mrs M Francis

Trustee

.........................................

Mr D Simpson

Trustee

The notes on pages 9 to 16 form an integral part of these financial statements.

Page 8


Notes to the Financial Statements for the Year Ended 31 December 2015

1 Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the

Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2015)', issued in July 2014, the

Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the

objectives of the charity.

Restricted Funds - these funds can only be used for particular restricted purposes within the object of the charity.

All such income is remitted to The Leprosy Mission International in accordance with those restrictions.

Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.

Further details of each fund are disclosed in note 21.

Incoming resources

Voluntary income including donations and legacies is recognised where there is entitlement, certainty of receipt and

the amount can be measured with sufficient reliability.

Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift

to which they relate.

Investment income is recognised on a receivable basis.

Income from charitable activities includes income recognised as earned (as the related goods or services are

provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant

income included in this category provides funding to support programme activities and is recognised where there is

entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the

expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that

aggregate all costs related to the category.

Costs of generating funds are the costs of trading for fundraising purposes.

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.

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee

meetings and the cost of any legal advice to trustees on governance or constitutional matters.

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.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Page 9



......... continued

Depreciation

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:

Office and computer equipment 33.33% of the cost per annum

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for

resale or distribution are not included in the financial statements until they are sold or distributed.

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis

over the lease term.

Pensions

The charity participates in the Leprosy Mission Central Pension Scheme, a multi-employer defined benefit plan.

The employer is not legally responsible for the plan and does not have sufficient information to use defined benefit

accounting. Accordingly, the plan is accounted for as if it is a defined contribution plan.

The charity has entered into an agreement with the multi-employer plan that determines how the charity will fund its

share of the deficit and accordingly the charity has recognised a liability for the contributions payable in accordance

with the provisions of FRS 102.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as

financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a

residual interest in the assets of the charity after deducting all of its liabilities.

2 Voluntary income

Unrestricted

Funds

£

Restricted

Funds

£

Total Funds

2015

£

Total Funds

2014

£

Donations and legacies

Trusts 13,056 21,660 34,716 32,941

Legacies and bequests 147,467 - 147,467 380,321

Appeals and donations 272,228 103,942 376,170 286,473

Gift Aid tax reclaimed 27,887 - 27,887 27,024

460,638 125,602 586,240 726,759

3 Activities for generating funds

Unrestricted

Funds

£

Restricted

Funds

£

Total Funds

2015

£

Total Funds

2014

£

Operating activity

Other income 6,281 - 6,281 6,713

Page 10



......... continued

4 Investment income

Unrestricted

Funds

£

Restricted

Funds

£

Total Funds

2015

£

Total Funds

2014

£

Interest on cash deposits 26 - 26 113

5 Incoming resources from charitable activities

Unrestricted

Funds

£

Restricted

Funds

£

Total Funds

2015

£

Total Funds

2014

£

Charitable activity

Scottish Government grants - 96,506 96,506 102,217

Page 11



......... continued

6 Total resources expended

Operating

activity

Charitable

activityGovernance Total

£ £ £ £

Direct costs

Charitable donations - 460,000 - 460,000

Cost of goods sold 1,836 - - 1,836

Employment costs 105,228 59,243 - 164,471

Printing, posting and stationery 9,977 194 - 10,171

Subscriptions and donations 481 30 - 511

Sundry and other costs 10,093 17,109 - 27,202

Advertising and promotion 225 225 - 450

Depreciation of tangible fixed assets 839 - - 839

128,679 536,801 - 665,480

Support costs

Employment costs 28,585 8,751 6,613 43,949

Repairs and maintenance 5,639 877 151 6,667

Office expenses 6,535 2,959 22 9,516

Printing, posting and stationery 5,426 1,121 52 6,599

Subscriptions and donations 1,108 394 16 1,518

Sundry and other costs 14,057 6,378 99 20,534

Auditor's remuneration - - 4,020 4,020

Bank charges 844 187 49 1,080

62,194 20,667 11,022 93,883

190,873 557,468 11,022 759,363

The allocation of Support Costs includes an element of judgement and the charity has had to consider the cost

benefit of detailed calculations and record keeping. The allocations shown are therefore the best estimate of costs

incurred in providing IT, payroll, finance and other central services for the charity. Cost allocation has been

attributed on the basis of estimated time spent on each activity or, if this is not appropriate, then on a basis consistent

with the use of resources.

Charitable donations represent grants made to the following charitable organisations:

2015 2014

The Leprosy Mission International, Brentford, UK 460,000 459,313

7 Trustees' remuneration and expenses

No trustee received any remuneration or expenses during the year (2014 - nil).

Page 12



......... continued

8 Net (expenditure)/income

Net (expenditure)/income is stated after charging:

2015 2014

£ £ £ £

Auditor's remuneration - audit services 4,020 4,000

Depreciation of tangible fixed assets 839 881

9 Employees' remuneration

The average number of persons employed by the charity (including trustees) during the year, analysed by category,

was as follows:

2015

No.

2014

No.

Charitable activities 3 3

Fundraising and marketing 2 2

5 5

The aggregate payroll costs of these persons were as follows:

2015

£

2014

£

Wages and salaries 140,060 125,955

Social security 13,078 9,516

Other pension costs 51,123 20,484

204,261 155,955

Pension costs in 2015 include the additional funding charge of £30,000 explained at note 15.

10 Taxation

The company is a registered charity and is, therefore, exempt from taxation.

Page 13



......... continued

11 Tangible fixed assets

Office and

computer

equipment

£

Cost

As at 1 January 2015 9,892

Additions 1,511

As at 31 December 2015 11,403

Depreciation

As at 1 January 2015 8,885

Charge for the year 839


Net book value



12 Stocks and work in progress

2015

£

2014

£

Stocks 4,943 6,121

13 Debtors

2015

£

2014

£

Other debtors 77,942 126,160

14 Creditors: Amounts falling due within one year

2015

£

2014

£

Trade creditors - 48,000

Other creditors 17,242 1,747

Accruals and deferred income 13,955 8,855

31,197 58,602

Page 14



......... continued

15 Pensions

Employees of The Leprosy Mission Scotland participate in the Leprosy Mission Central Pension scheme, a multi

employer defined benefit plan. The employer is not legally responsible for the plan and does not have sufficient

information to use defined benefit accounting. Accordingly, the plan is accounted for as if it is a defined contribution

plan.

The various employers are jointly and severably liable for the Scheme's deficit. At 31 December 2012, the date of

the latest information, the funding liability was £1,755,000.

The Scheme is currently in deficit and, as set out in the recovery plan the employer agreed to participate in a fund

plan to reduce the deficit. The liabilities set out in the table below (2014: nil) have been recognised in the income

and expenditure account.

The amount recognised in the Statement of Financial Position and in the income and expenditure account for The

Leprosy Mission Scotland is as follows:

31 December 2015 31 December 2014

Pension liability at start of the year - -

Charge for the year 2,000 4,000

Employer Contributions paid (2,000) (4,000)

Additional funding charge 30,000 -

Pension liability at end of year 30,000 -

16 Provisions for liabilities

Pension

provision

£

Pension provision movement (30,000)

As at 31 December 2015 (30,000)

17 Members' liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the

members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of

liquidation. At the balance sheet date there were 24 members. The accounts have been prepared on a going concern

basis and accordingly the contingent possibility of the company receiving those sums is considered by the trustees to

be remote, and is not reflected or disclosed further in the accounts.

In view of the above, the trustees consider that disclosures regarding liabilities and shareholders' funds, are not

applicable.

18 Operating lease commitments

As at 31 December 2015 the charity had annual commitments under non-cancellable operating leases as follows:

Operating leases which expire:

Other

2015

£

2014

£

Within one year 5,034 -

Within two and five years - 6,712

5,034 6,712

Page 15



......... continued

19 Pension scheme

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the period represents

contributions payable by the charity to the scheme and amounted to £21,123 (2014 - £20,484).

There were no outstanding or prepaid contributions at either the beginning or end of the financial year.

20 Related parties

Controlling entity

The charity is controlled by the trustees who are all directors of the company.

21 Analysis of funds

At 1

January

2015

Incoming

resources

Resources

expended

At 31

December

2015

£ £ £ £

Designated Funds

Projects 2015 92,498 - (92,498) -

General Funds

Unrestricted income fund 217,613 466,945 (421,573) 262,985

Restricted Funds

Restricted income fund 27,605 222,108 (245,292) 4,421

337,716 689,053 (759,363) 267,406

22 Net assets by fund

Unrestricted

Funds

Restricted

Funds

Total Funds

2015

Total Funds

2014

£ £ £ £

Tangible assets 1,679 - 1,679 1,007

Current assets 322,503 4,421 326,924 395,311

Creditors: Amounts falling due within

one year (31,197) - (31,197) (58,602)

Provisions for liabilities (30,000) - (30,000) -

Net assets 262,985 4,421 267,406 337,716

Page 16

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