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REGISTERED COMPANY NUMBER: SC557334 (Scotland)
REGISTERED CHARITY NUMBER: 051449














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MUCKLE TOON MEDIA LIMITED

MUCKLE TOON MEDIA LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 16

MUCKLE TOON MEDIA LIMITED (REGISTERED NUMBER: SC557334)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objectives of the company are:

- The advancement of community development in Langholm and the surrounding area which comprises DG13, DG14 and the Newcastleton District Community Council area within TD9 ("the community") by developing and operating community newspapers and community websites;
- The advancement of Heritage by maintaining and archive of local history and making it available to the public.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
2024 has seen a successful 'bedding-in' process for our new local editor. Now with an emphasis much more on local news wherever possible, positive comments received from the public have welcomed the change to the E&L's content.

It remains the objective of the board and staff to make the E&L an integral part of community life by continuing to inform, educate and entertain. To this end we intend to introduce free online subscriptions to pupils, and former pupils in higher education, of Langholm Academy to encourage younger reader who may go on to participating in the life of the paper. We will discuss this directly with the school.

Even with the industry-wide reduction in hard copy newspaper sales, our local paper remains the best-selling weekly publication in the Langholm and Eskdale area and even exceeds the best daily sales of any of the national newspapers. We publish over 800 copies of the Eskdale & Liddesdale Advertiser (E&L) each week as well as having over 150 online subscribers, which is an increase of just short of 50% on last year and allows us to achieve an estimated overall readership in excess of 3,000 people.

This level of penetration shows how much the E&L is not only appreciated but is required reading for information on local affairs for an essentially elderly population who prefer the paper to the online word. That said, we will be looking to improve and upgrade our online presence over the next year.

FINANCIAL REVIEW
Financial position
During the year, income of £102,322 was received. Expenditure totalled £92,337. Total reserves at 31st December 2024 stood at £47,910, all of which relate to unrestricted funds.

Reserves policy
In the perfect world, we would aim to hold reserves of the equivalent of six months running costs which would be around £50,000.
Obtaining charitable status has helped our fundraising ability and we expect to generate more income through grants and donations in future.


MUCKLE TOON MEDIA LIMITED (REGISTERED NUMBER: SC557334)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024

FUTURE PLANS
Our plans remain to continually improve the quality and extent of our coverage of news, views, events and activities in the Eskdale and Liddesdale valleys. We encourage and receive editorial contributions from all aspects of the community to give balance and local interest. Indeed, the number of contributors has increased in 2024, and we intend to encourage this further.
We are currently working on funding plans and applications to various funders that will help sustain the paper for 3 years from the start of 2026.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

OSCR gave Muckle Toon Media Limited permission to become a Charitable Company on 13/12/2021. Previously known as Muckle Toon Media CIC (a Community Interest Company), Muckle Toon Media CIC transferred all of its activities, assets and liabilities from 13/12/2021 to the charity.

Organisational structure
The structure of the company consists of:-
The Members - who have the right to attend the annual general meeting (and any other general meeting) and have important powers under the Articles of Association and the Act; in particular, the members elect people to serve as directors and take decisions in relation to changes to the articles themselves.

The Directors - who hold regular meetings during the period between annual general meetings, and generally control and supervise the activities of the company; in particular, the directors are responsible for monitoring the financial position of the company.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC557334 (Scotland)

Registered Charity number
051449

Registered office
Ashleybank House
High Street
Langholm
Dumfriesshire
DG13 0AN

Trustees
D D Stevenson (resigned 10.11.24)
J H Hammond
W S Young
G J Graham

Company Secretary
Y Murray


MUCKLE TOON MEDIA LIMITED (REGISTERED NUMBER: SC557334)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL

Approved by order of the board of trustees on 30th May 2025 and signed on its behalf by:





J H Hammond - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MUCKLE TOON MEDIA LIMITED

I report on the accounts for the year ended 31st December 2024 set out on pages five to sixteen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeking explanations from you as 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
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Joanne Gibson
The Institute of Chartered Accountants of Scotland

JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL

24th June 2025

MUCKLE TOON MEDIA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 12,999 26,000 38,999 35,997

Charitable activities 4
Community newspaper 63,315 - 63,315 66,226

Other trading activities 3 8 - 8 30
Total 76,322 26,000 102,322 102,253

EXPENDITURE ON
Charitable activities 5
Community newspaper 62,013 30,324 92,337 85,971

NET INCOME/(EXPENDITURE) 14,309 (4,324 ) 9,985 16,282


RECONCILIATION OF FUNDS
Total funds brought forward 33,601 4,324 37,925 21,643

TOTAL FUNDS CARRIED FORWARD 47,910 - 47,910 37,925

MUCKLE TOON MEDIA LIMITED (REGISTERED NUMBER: SC557334)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 12 500 1,640

CURRENT ASSETS
Debtors 13 10,508 11,459
Cash at bank and in hand 42,181 31,278
52,689 42,737

CREDITORS
Amounts falling due within one year 14 (5,279 ) (6,452 )

NET CURRENT ASSETS 47,410 36,285

TOTAL ASSETS LESS CURRENT
LIABILITIES

47,910

37,925

NET ASSETS 47,910 37,925
FUNDS 16
Unrestricted funds 47,910 33,601
Restricted funds - 4,324
TOTAL FUNDS 47,910 37,925

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


MUCKLE TOON MEDIA LIMITED (REGISTERED NUMBER: SC557334)

BALANCE SHEET - continued
31ST DECEMBER 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 30th May 2025 and were signed on its behalf by:





J H Hammond - Trustee





W S Young - Trustee

MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The trustees have considered the impact of current global events on the charity and are satisfied that they have sufficient cash and support from third parties to meet all financial obligations for the foreseeable future. The accounts have therefore been based on the going concern basis.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations and legacies
Donations are recognised when they are received and when any conditions attached thereto have been fulfilled.

Grants receivable
Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Charitable Activities
Newspaper and advertising sales are recognised when the transaction has taken place. Income received in advance is deferred until the criteria for income recognition are met.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Statement of Financial Activities.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations and grants 38,999 35,997


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

3. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Photocopying 8 30

4. INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Activity £    £   
Newspaper sales Community newspaper 31,360 33,027
Advertising Community newspaper 25,709 27,013
Royalties Community newspaper 403 592
Online subscriptions Community newspaper 5,843 5,594
63,315 66,226

5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 6) note 7) Totals
£    £    £   
Community newspaper 78,555 13,782 92,337

6. DIRECT COSTS OF CHARITABLE ACTIVITIES
2024 2023
£    £   
Staff costs 44,727 29,426
Bad debt provision 186 -
Printing services 18,715 18,797
Distribution costs 2,298 2,437
Freelance staff 11,208 22,626
Sales commissions 208 136
Computers & software 1,213 1,955
78,555 75,377


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

7. SUPPORT COSTS
Governance
Management Finance costs Totals
£    £    £    £   
Community newspaper 11,452 830 1,500 13,782

Support costs, included in the above, are as follows:
2024 2023
Community Total
newspaper activities
£    £   
Rent, rates and water 3,043 1,710
Insurance 368 560
Light and heat 2,047 1,306
Telephone 609 452
Postage and stationery 453 400
Sundries 1,122 603
Repairs & maintenance 1,038 255
Legal & professional fees - 40
Subscriptions 1,072 1,191
Accountancy and payroll fees 560 600
Depreciation of tangible and heritage
assets

1,140

1,179

Bank charges 830 898
Independent examiners fee 1,500 1,400
13,782 10,594

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 1,140 1,179


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.


10. STAFF COSTS
2024 2023
£    £   
Wages and salaries 43,583 28,750
Other pension costs 1,144 676
44,727 29,426

The average monthly number of employees during the year was as follows:

2024 2023
Staff 2 2

No employees received emoluments in excess of £60,000.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 11,997 24,000 35,997

Charitable activities
Community newspaper 66,226 - 66,226

Other trading activities 30 - 30
Total 78,253 24,000 102,253

EXPENDITURE ON
Charitable activities
Community newspaper 64,007 21,964 85,971

NET INCOME 14,246 2,036 16,282


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   

RECONCILIATION OF FUNDS
Total funds brought forward 19,355 2,288 21,643

TOTAL FUNDS CARRIED
FORWARD

33,601

4,324

37,925

12. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2024 and
31st December 2024

820

3,258

4,078

DEPRECIATION
At 1st January 2024 232 2,206 2,438
Charge for year 88 1,052 1,140
At 31st December 2024 320 3,258 3,578
NET BOOK VALUE
At 31st December 2024 500 - 500
At 31st December 2023 588 1,052 1,640

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,837 11,063
Prepayments 671 396
10,508 11,459


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,192 1,822
VAT 657 734
Accrued expenses 2,430 3,896
5,279 6,452

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Fixed assets 500 - 500 1,640
Current assets 52,689 - 52,689 42,737
Current liabilities (5,279 ) - (5,279 ) (6,452 )
47,910 - 47,910 37,925

16. MOVEMENT IN FUNDS
Net
movement At
At 1.1.24 in funds 31.12.24
£    £    £   
Unrestricted funds
General fund 33,601 14,309 47,910

Restricted funds
Foundation Scotland 4,324 (4,324 ) -

TOTAL FUNDS 37,925 9,985 47,910

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 76,322 (62,013 ) 14,309

Restricted funds
Foundation Scotland 26,000 (30,324 ) (4,324 )

TOTAL FUNDS 102,322 (92,337 ) 9,985


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 19,355 14,246 33,601

Restricted funds
Raising the standards of the E&L
Advertiser

2,288

(2,288

)

-
Foundation Scotland - 4,324 4,324
2,288 2,036 4,324
TOTAL FUNDS 21,643 16,282 37,925

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 78,253 (64,007 ) 14,246

Restricted funds
Raising the standards of the E&L
Advertiser

-

(2,288

)

(2,288

)
Foundation Scotland 24,000 (19,676 ) 4,324
24,000 (21,964 ) 2,036
TOTAL FUNDS 102,253 (85,971 ) 16,282

Foundation Scotland - through Crossdykes Community Benefits Limited, towards Hold the Front Page! project. The project will contribute towards the cost of employing a General Manager.


MUCKLE TOON MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

17. RELATED PARTY DISCLOSURES

Donations were received from The Stevenson Trust, a charity in which D D Stevenson is a trustee. The total amount received during the year, without conditions, amounted to £3,000.

A donation was received from J Hammond Charity Trust, a charity in which J H Hammond is a trustee. The total amount received during the year, without conditions, amounted to £4,000.