REGISTERED COMPANY NUMBER: 02533622 (England and Wales)

REGISTERED CHARITY NUMBER: 1002257

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

BLACK COUNTRY MENTAL HEALTH

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

6

Independent Examiner's Report

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Notes to the Financial Statements

11

to

17

TRUSTEES

Ms H Harris Company Director

Mr M B Khan Motor Mechanic

Ms F J Lucas Self Employed

Ms L Perry University Outreach Advisor (resigned 1/3/2026)

Mr D R Tyler Retired

Mr J A Dickenson Retired (appointed 1/4/2025)

REGISTERED OFFICE

The Hub

Bushey Fields Hospital Site

Bushey Fields Road

Dudley

West Midlands

DY1 2LZ

REGISTERED COMPANY NUMBER

02533622 (England and Wales)

REGISTERED CHARITY NUMBER

1002257

INDEPENDENT EXAMINER

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BANKERS

Handelsbanken

Ground Floor,

2 Trinity Court,

Broadlands,

Wolverhampton

WV10 6UH

SOLICITORS

FBC Manby Bowdler

6-10 George Street

Wolverhampton

WV2 4DN

The trustees present their report and accounts for the year ended 31 March 2026.

The legal and administrative information forms part of this report.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and 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) (as amended for accounting periods commencing from 1 January 2016).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of Black Country Mental Health are 'to promote the preservation and maintenance of good mental health as well as assisting with the recovery of and providing support for those people experiencing emotional or mental distress in the Black Country (The Metropolitan Boroughs of Dudley, Sandwell Walsall and Wolverhampton) and such other areas from time to time determined by the Board of Management'. Black Country Mental Health may from time to time seek grants and loans to finance capital purchases and fund specific activities, accept donations, sponsorship fees, subscriptions, legacies and bequests.

Organisational Management

This is delegated to the Chief Executive who reports to the board of trustees at each meeting. From time to time the Chief Executive may send out briefings to the trustees to keep them informed of current development.

Team

The team at BCMH consists of a small number of paid part time staff and a large group of volunteers who help to deliver and support the services being operated. Being one team is extremely important to BCMH as each member is valued for their individual and collective input. It is also vital that everyone feels part of the wider team as some of the services are away from the central office base.

The wider team now also consists of partnerships with the Jodi Dancers and the Guardians Guild.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

In setting our objectives and planning our activities the Trustees have given careful consideration to the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

In order to achieve its objectives Black Country Mental Health's activities and who it benefits are outlined as follows;

Awards:

We were successful in regaining the best Mental Health First Aid training Provider Award and also the Best Wellbeing Workplace. We strive to make this a supportive and enjoyable environment for all volunteers and students.

Bereavement and Grief Counselling:

This continues to be a much-needed service as we have been able to support a large number of adults and children through their grieving process. Most of this work is delivered on a one to one face to face basis with Nicola being the lead on this,

Counselling

We have continued to offer placement opportunities for students on Level 4, 5, 6 and 7 including trauma informed work. This has enabled us to support more people. Students come from various colleges, Universities and training companies. Students have been offered places on the Mental Health First Aid course along with volunteers.

Fundraising

During the year under review we have had participants in the London Landmarks Half Marathon and also some half marathons in other countries.

There have also been some events organised by others such as the Gentlemen Songsters Concert and Penn Singers. National Grid and other companies have held events internally to raise money for us. We were the charity for Gallaghers.

We had numerous donations, some from people who we had supported and others from people who wanted to help us develop and deliver our services. We are so grateful to everyone who has donated or raised money for us during this financial year and will hopefully support us during the next one. If we have missed anyone out this is not intentional. We have been pleased to welcome Hilary to join our head office team.

Growing In the Park Horticultural Project

This project has undergone a change which has been very much welcomed in providing a supportive and enjoyable space for people to manage their mental wellbeing and also help with maintaining the old Walled Garden at Wollescote Park. The lead is now Simon who has injected into the project a much needed sense of belonging to the volunteers where they enjoy coming and benefiting from the tranquility of the garden as well as helping to maintain it.

Jolly Joggers - Couch to 5k

This remains a popular activity which is conducted over a 12-week period with qualified and experienced volunteers in West Park, Wolverhampton. The programme combines the benefits of physical exercise with our mental wellbeing and being in the open air has an impact directly on this. At the end of the programme everyone takes part in Park Run which is the 5k element. The volunteers continue to be amazing with their encouragement for people taking part. The project has now entered into it's eleventh year of operation and this shows how important and valued it is.

Peer Mentoring/Self Help groups

These have taken place throughout the year facilitated by staff and volunteers. These groups offer mutual support and the sharing of coping strategies in a confidential safe environment. People are free to attend as and when they feel they need the support.

The female trauma group has continued to provide support as well as allowing the participants to develop social networks and keep in touch with each other as well as contact staff if they are needing further support. They have a WhatsApp group that also helps to keep in contact with each other if unable to attend a session.

During this year we had to make the decision to close the facility in Smethwick in order to safeguard staff involved there. This we very much regretted but we have encouraged people to come to Dudley if they required specific support and this has worked well in some cases.

Recovery Activities

A drop in facility is available on Sundays which allows for social interaction as well as the opportunity to be supported with issues which might be impeding recovery. We did for a period run a drop in during the week but this proved to be difficult in encouraging new people.

Lewis, our lead has been providing much needed support to people.

Schools and Colleges

During the year we have promoted the Wellbeing Warriors training for pupils from year 4 and 5 in some Primary Schools. This has enabled pupils to work in liaison with teaching staff to support their peers when they are feeling anxious or upset.

Support Line

Despite other paid services being in place we still have a lot of people who have been given our telephone number by paramedics, the Police, 111 and GPs. We continue to provide support through weekly calls to some people who need this. This has been taking place since Covid and has been facilitated mainly by Lesley one of our long standing volunteers.

Workplace Wellbeing

We have continued to deliver training in the form of the Mental Health First Aid as well as general mental health awareness to several organisations and individuals. We have continued to work with some companies to promote mental health support in the workplace in particular JJX Logistics. We have also partnered with the physical first aid company J & S Training to deliver Mental Health First Aid on their behalf.

Contracts

During this financial year we have again been successful with the Consortium of ourselves, Phase Trust, AOC and The What? Centre in delivering the Getting Help programme for Black Country CAMHS. This has led to providing support in various forms for many children and young people. We also have parents who contact us directly asking if we can help support their child.

In addition we were part of the Talking Therapies Plus contract providing counselling for many people around different issues including bereavement, relationships, finance etc.

SELF REFERRAL

We encourage self referral from everyone so we know the individual is really wanting to access support.

FINANCIAL REVIEW

Financial position

Sources of funding

During the year, the main sources of funding were derived from delivering counselling, training, donations and fundraising together with support from a number of local companies.

Premises

The charity continues to operate from the building on the Bushey Fields Hospital site which has enabled more people to be able to travel to us as the public transport situation is much easier from the other areas of the Black Country thus allowing a better service to be provided whilst also enhancing opportunities to develop income streams. The move has improved our contacts and liaison with the NHS Trust and other Mental Health statutory providers. In the later part of the previous financial period BCMH took part in a pilot to offer 'Getting Help' to children and young people through Black Country CAMHS (Child and Adolescent Mental Health Services). This was extended into a contract through the consortium that BCMH is in partnership with, namely, The What? Centre, Phase Trust and the AOC.

Reserves

The Trustees hold the view that a minimum of six months' salaries and operating overheads should be maintained so that any reduction in funding brought about by political change or otherwise would not have an immediate effect on the services of the charity. Under this policy and considering redundancy and termination costs in 2025/26 we will require a level of reserves of approximately £55,930 whilst the actual level of unrestricted reserves is £148,315.

Transactions and financial position

The Statement of Financial Activities shows income for the year of £117,192 with expenditure of £93,372 resulting in a surplus of £23,820. The balance of the accumulated fund stands at £194,105 in total consisting of £148,315 general unrestricted funds and £45,790 restricted funds. Trustees maintained their intention to reduce any operating deficit through the strategy of growing services and income.

Investment

Under the Memorandum and Articles of Association, Black Country Mental Health has the power to make any investment which the Trustees see fit. To maximize the investment opportunity on monies held in Black Country Mental Health's bank accounts a fixed interest account has been operating throughout the year with Handelsbanken through a 35-day notice account. This arrangement ensures the highest level of interest reconcilable with ease of access to funds is achieved which is monitored monthly.

Risk management

The Board has instituted and maintains a Charity Risk Assessment of the major strategic and operational risks that they face, identifying risk factors, their likelihood and impact, and control procedures to limit risk. The assessment is reviewed and updated as necessary annually by the Board. Risk management is an on-going process, and particular attention is paid to those few aspects that are identified as having a higher likelihood and/or impact. Operational Risk is managed using our risk assessment and risk management tools as well as our Health and Safety documentation which is regularly reviewed by the Board. All serious incidents are reported periodically to the Board.

Plans for the future

The Board recognises that diversification of income is imperative, and some progress has been made in this area. Increased effort in promoting mental health training to both the public and private sectors has begun to show reward and our name is now more widely recognised in this area. We are proud to have been adopted by several local companies as their charity partner, and this has led to further enquiries for training. Interest is being shown in supporting the charity from various sectors as mental health becomes more openly discussed.

There is no doubt that the future continues to be challenging, but there are encouraging signs that the efforts being made by all involved with Black Country Mental Health are now showing returns. The work with Black Country CAMHS supporting children and young people with their parents will continue into the next financial year as will the work with Talking Therapies Plus.

We are also working with a local First Aid training company to deliver Mental Health First Aid on their behalf.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Black Country Mental Health is a charitable company limited by guarantee. When incorporated as Dudley Mind in 1990, it took over the functions, properties and liabilities of a charity registered in 1976, known as the Dudley Association for Mental Health. Black Country Mental Health is governed by its Memorandum and Articles of Association as revised in 1997.

Board of Management ("The Board")

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr D Tyler

Ms F J Lucas

Mr M Khan

Ms L Perry

Ms H Harris

Mr J A Dickenson

Every year one third of the members retire from office; the members so retiring shall be those who have been longest in office since their last election. All retiring members shall be eligible for re-election subject to certain provisons as set out in Rule 43 a) & b) of the Articles of Association.

In the appointment of members, the Board is very mindful of the need to maintain a broad cross section of professional skills and life experience relevant to its duties and obligations. Induction and training of new members is based on individual needs but will always include familiarization with Black Country Mental Health's activities. Prior to appointment on the vote of board members, all potential new members are required to meet the Chair, Vice-Chair and/or Chief Executive to establish that there are no disqualifying conditions, that there is a genuine desire to help and contribute to the organisation and that the obligations and "duty of care" of a director and trustee are fully understood and accepted. Service users and ex-service users who can meet the criteria are sought after as members.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organizational structure and related parties:

Management of the day-to-day operational duties, service provision, staff management is delegated to the Chief Executive. The freedom to act allowed by this delegation may be circumscribed in some areas, for example the company has prescribed financial regulations governing spending limits.

Staffing:

Staff continues to be both the organization's greatest asset and its greatest expense. They have continued to show great dedication to their work in improving mental health despite an uncertain funding climate. All staff members receive support from their line manager. Training is provided as identified for specific job roles including data protection (GDPR).

The trustees' report was approved by the Board of Trustees.

Approved by order of the board of trustees on 6 October 2026 and signed on its behalf by:

Mr D R Tyler - Trustee

Independent examiner's report to the trustees of Black Country Mental Health ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2026.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Nigel Meredith

The Institute of Chartered Accountants in England and Wales

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

6 October 2026

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

2,302

-

2,302

5,125

Charitable activities

5

Charitable activites

95,310

-

95,310

43,371

Other trading activities

3

16,753

1,659

18,412

55,968

Investment income

4

1,168

-

1,168

1,948

Total

115,533

1,659

117,192

106,412

EXPENDITURE ON

Charitable activities

6

Charitable activites

90,078

3,294

93,372

95,921

NET INCOME/(EXPENDITURE)

25,455

(1,635

)

23,820

10,491

RECONCILIATION OF FUNDS

Total funds brought forward

122,860

47,425

170,285

159,794

TOTAL FUNDS CARRIED FORWARD

148,315

45,790

194,105

170,285

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

1,631

45,790

47,421

50,298

CURRENT ASSETS

Debtors

13

13,422

-

13,422

24,357

Cash at bank and in hand

143,244

-

143,244

107,115

156,666

-

156,666

131,472

CREDITORS

Amounts falling due within one year

14

(9,982

)

-

(9,982

)

(11,485

)

NET CURRENT ASSETS

146,684

-

146,684

119,987

TOTAL ASSETS LESS CURRENT LIABILITIES

148,315

45,790

194,105

170,285

NET ASSETS

148,315

45,790

194,105

170,285

FUNDS

15

Unrestricted funds

148,315

122,860

Restricted funds

45,790

47,425

TOTAL FUNDS

194,105

170,285

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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.

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 6 October 2026 and were signed on its behalf by:

Mr D R Tyler - Trustee

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.

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised on receipt..

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution , the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The trustees have adopted a policy whereby fixed assets costing less than £500 are not capitalised.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Over the term of the lease

Computer equipment 33.33% p.a. straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Taxation

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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.

2.	DONATIONS AND LEGACIES

2026

2025

£

£

Donations

2,302

4,835

Other income

-

290

2,302

5,125

3.	OTHER TRADING ACTIVITIES

2026

2025

£

£

Fundraising events

18,412

55,968

4.	INVESTMENT INCOME

2026

2025

£

£

Other participating interests

1,168

1,948

5.	INCOME FROM CHARITABLE ACTIVITIES

2026

2025

Activity

£

£

Charitable activities

Charitable activites

95,310

43,371

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Charitable activites

89,947

3,425

93,372

7.	SUPPORT COSTS

Finance

£

Charitable activites

3,425

8.	NET INCOME/(EXPENDITURE)

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

2026

2025

£

£

Depreciation - owned assets

2,877

2,490

Hire of plant and machinery

523

-

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

10.	STAFF COSTS

2026

2025

£

£

Wages and salaries

65,319

66,129

Social security costs

(114

)

392

Other pension costs

3,826

339

69,031

66,860

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

2026

2025

Charitable activities

1

1

Management and admin

1

2

2

3

There were no employees whose annual remuneration was £60,000 or more

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

5,125

-

5,125

Charitable activities

Charitable activites

43,371

-

43,371

Other trading activities

51,708

4,260

55,968

Investment income

1,948

-

1,948

Total

102,152

4,260

106,412

EXPENDITURE ON

Charitable activities

Charitable activites

90,025

5,896

95,921

NET INCOME/(EXPENDITURE)

12,127

(1,636

)

10,491

RECONCILIATION OF FUNDS

Total funds brought forward

110,733

49,061

159,794

TOTAL FUNDS CARRIED FORWARD

122,860

47,425

170,285

12.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

equipment

Totals

£

£

£

COST

At 1 April 2025 and 31 March 2026

81,768

3,727

85,495

DEPRECIATION

At 1 April 2025

34,343

854

35,197

Charge for year

1,635

1,242

2,877

At 31 March 2026

35,978

2,096

38,074

NET BOOK VALUE

At 31 March 2026

45,790

1,631

47,421

At 31 March 2025

47,425

2,873

50,298

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

11,025

23,251

Prepayments

2,397

1,106

13,422

24,357

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

731

260

Social security and other taxes

1,315

1,382

Other creditors

3,457

-

Accruals and deferred income

4,479

9,843

9,982

11,485

15.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1/4/25

in funds

funds

31/3/26

£

£

£

£

Unrestricted funds

General fund

73,860

25,455

49,000

148,315

Designated Fund

49,000

-

(49,000

)

-

122,860

25,455

-

148,315

Restricted funds

Property Fund

47,425

(1,635

)

-

45,790

TOTAL FUNDS

170,285

23,820

-

194,105

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

115,533

(90,078

)

25,455

Restricted funds

Property Fund

-

(1,635

)

(1,635

)

Get Set To Go

1,659

(1,659

)

-

1,659

(3,294

)

(1,635

)

TOTAL FUNDS

117,192

(93,372

)

23,820

Comparatives for movement in funds

Net

movement

At

At 1/4/24

in funds

31/3/25

£

£

£

Unrestricted funds

110,733

12,127

122,860

Restricted funds

Property Fund

49,061

(1,636

)

47,425

TOTAL FUNDS

159,794

10,491

170,285

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

102,152

(90,025

)

12,127

Restricted funds

Property Fund

(1

)

(1,635

)

(1,636

)

Marathon

1,000

(1,000

)

-

Fisher Trust Garden

1,000

(1,000

)

-

Get Set To Go

2,261

(2,261

)

-

4,260

(5,896

)

(1,636

)

TOTAL FUNDS

106,412

(95,921

)

10,491

A current year 12 months and prior year 12 months combined position is as follows:

Net

Transfers

movement

between

At

At 1/4/24

in funds

funds

31/3/26

£

£

£

£

Unrestricted funds

110,733

37,582

-

148,315

Restricted funds

Property Fund

49,061

(3,271

)

-

45,790

TOTAL FUNDS

159,794

34,311

-

194,105