2021 Review

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Auckland Youth Orchestra Inc. 2021 Review Performance Report

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THANKS TO OUR SUPPORTERS /

Golden Supporters Lodge of the Liberal Arts The Wallace Foundation

Special Supporters Susan & Nick Nihotte John Boscawen Alison Buchanan & Eric Johnston

General Supporters Kate Burke & Hans Heumann Kerin Buttimore Nigel Chadwick Mark Close Gillian & Harold Coop Marcia Dwyer Diana Gash Michael Goodall Julie Goodyer Dora Green

Julia Griffiths & David Yates Judith Gust Diane & Mark Hall Danielle Hancock Chris Kim Acer & Tina Lin Louise & Andre Molon-Noblot Janis & Peter Metcalfe Elizabeth Philipp Elisabeth Wilson

And 10 anonymous General Supporters

ROLL OF HONOUR We appreciate those who have generously left bequests to AYO in the past: 2019 2013 2005 1999 1995 1988 1987

Beverley Alison Simmons Janetta McStay Moya Rea Norman W (Chip) Stevens Alicia Griffin Patricia Emma Sara Cole Alwyn Olive Hutchinson

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THANKS TO OUR SPONSORS We thank the organisations below for their generous support which enables us to continue our work.

ABOUT AYO

Founded in 1948, the Auckland Youth Orchestra (AYO) is the premier regional youth orchestra in New Zealand and was the first youth orchestra established in the Southern Hemisphere, designed to bridge the gap between school orchestras and adult professional groups. AYO inspires young people to excel through their love of musical performance and provides them with a wide range of cultural experiences, thus shaping our leaders of tomorrow. AYO makes an important contribution to the cultural life of Auckland and NZ. AYO performs up to 12 concerts a year throughout the upper North Island region and has attracted full houses at their concerts in many locations. This endeavour requires large operating costs and the AYO relies heavily on the generosity of our Sponsors, Subscribers, and Supporters. All grants and donations are helpful and greatly appreciated.

OBITUARIES We were saddened to learn this month that our Patron, Dame Catherine Tizard ONZ GCMG GCVO DBE QSO DStJ, passed away on 31 October 2021. A true trailblazer, paving the way for women as Auckland's first female mayor and then entering the office as New Zealand's first female Governor-General, Dame Cath also played a vital role for the arts during both her time in and out of office. Not only was she the driving force behind many Auckland projects including the Aotea Centre - but she supported AYO in the capacity of official Patron from 2013, continuing to attend performances at the Auckland Town Hall as frequently as she could. We would also like to record our sadness at the death of Dr Philip Galloway in June 2021, after a brief illness. Philip had played violin in AYO 1975-1983 as he studied to become a GP and, later, a psychiatrist. He was a long-standing Golden Supporter of AYO whose generosity inspired the setting up of our annual Soloist Competition.

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AYO MEMBERS

Governance Dame Catherine Tizard ONZ GCMG GCVO DBE QSO DStJ, Patron (decd 31/10/21) Michael McLellan, FTCL LRSM, President Alastair Clement, Vice-President

Executive Committee Alexander Cowdell Chairman Antun Poljanich Music Director Anne-Marie Forsyth Secretary Rachael Brand Communications Mary Lin Manager Bleau Bustenera Co-Opted Member Helen Lewis Treasurer Bryan Lin Assistant Manager Player Representatives: Tavite Tonga, James Brady

Administration Alison Dunlop and Louise Roe Roy Knill

Librarians Instruments

Honorary Members Alastair Clement Michael McLellan Anne Draffin Cameron Stuart

Lynn Pettit Barrie Ross Lois Westwood

Subscribing Members Philippa Black Rachael Brand Alexander Cowdell Anne-Marie Forsyth Judith Gust

Mark & Diane Hall Helen Lewis Acer & Tina Lin T. McD. Morton Grant Reay

And 1 anonymous Subscriber

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AYO PLAYERS in 2021 Violin I ‡ Jim Wu Zosia Herlihy-O’Brien Kauri May Sheena Lin Martin Qiang Darren Breeze Wenjia Li Tabitha Yates Bethany Yates Chisato Aida Daisy Chen Alan Qin Reuben Chung Emma Ma Hazuki Katsukawa

Violin II #Bryan Lin Matilda Hol Athena Shiu Santiago Romano Annabel O’Rourke Michael Tran Justin Chan Kelly Siew Ollie Burton Ailis Su Joey Lee Theo McIntosh Sebastian Romano Nathan Choi Zac Turner Angeline Xiao Maggie Yang

Viola # Jessie Anderson Jasper Lin Daniel Kim Irene Kim Tony Zhang Nicholas Newman Elise Ji Elena Bloksberg Hazel Watson-Smith Elisa Wu

Cello #Damon Herlihy-O’Brien Eva Wu Claire Xu Vincent Chen Ben Lin Phoebe Qiu Max Wen Masha Pavlenko Wooyoung Wang Cindy Huang Eric Liang Tara Hurley Season Kan Double Bass # Oliver Spalter Alicia Kidd Zazi Ndebele Kahnyell Talamaivao Flute # Anna Kexin Zhang Claire Huang Isobel Hegan Alina Chen (piccolo) Oboe # Akari Ouchi Matilda Hur (Cor Anglais) George Guo (Cor Anglais) Hannah Barber-Wilson Emily Grant Clarinet # Kiara Kong Olivia Littlejohn Matthew Donnelly Jack Sloan Alex Vincent (Eb Clarinet) Marlon Sullivan (Bass Clarinet) Bassoon # Monica Dunn (Guest) Sue Lynn Leong Daniel Huang Venice Qin Saxophone Tessa Frazer

French Horn # Henry Close Max Glazier Evan Metcalfe Fergus Dunlop Ella Riley Steven Yu Trumpet # Jake Krishnamurti James Brady James Liston Hamish Butterworth-Snell Trombone # Daniel Nihotte Amy Laithwaite Tavite Tonga Esther Simpson Euphonium # Mark Bingham (Guest) Tuba # Lachlan Grant Timpani # Camryn Nel Percussion #Michael Cai James Tang Naomi Kelly Annabel Yu Amy Laithwaite Jason Wong Geoff Hill Catherine Chang (celesta) Harp Harrison Chau Ella Liang Piano Daniel Huang

Legend ‡ Concertmaster # Principal

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Auckland Youth Orchestra Inc. Performance Report For the Year Ended 31 October 2021

CONTENTS

Page

Non-Financial Information: Entity Information

2

Statement of Service Performance

3

Financial Information: Accountant's Review Report

5

Statement of Financial Performance

6

Statement of Financial Position

7

Statement of Cash Flows

8

Statement of Accounting Policies

9

Notes to the Performance Report

10

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Auckland Youth Orchestra Inc. Entity Information "Who are we?", "Why do we exist?"

For the Year Ended 31 October 2021 Legal Name of Entity: Other Name of Entity: Type of Entity and Legal Basis: Registration Numbers:

Auckland Youth Orchestra Incorporated AYO Incorporated Society and Registered Charity Incorporation Number: 221562 Charity Number: CC45382

Entity’s Mission The purpose of AYO is to maintain a symphony orchestra comprised of talented young musicians; to support and foster the orchestral education and training of its members; to promote and foster music in the community; to encourage and support the composition and performance of music; to collaborate with and support any institution, society or other body whose objects are similar to the objects of the Society; to act in the interests of its members and the Orchestra for the benefit of the community in the Auckland region. Entity’s Structure The Society is governed by an Executive Committee comprised of the Music Director, elected Members of the Society and elected Player Representatives. The Executive Committee is responsible for all matters relating to the Society's governance and operations. An Artistic Sub-Committee (including the Music Director) sets the works to be performed each year. The Society's investments are managed by the Finance Sub-Committee (including the Treasurer). The Orchestra Manager is responsible for preparing the calendar of concerts, tours and rehearsals, booking venues and managing players. Main Sources of the Entity's Cash and Resources The Society relies on a range of sources of income to enable successful operation, the main ones being revenues from concerts, donations from Supporters, grants, investment income and subscription income from players. Main Methods Used by the Entity to Raise Funds Revenues from performances are received either from tickets sales or as a performer's fee from regional music societies. Donations are invited annually from regular Supporters and from the public who attend concerts. Our Supporters Programme offers reserved seating to Supporters in the Town Hall in appreciation of their donations. Players pay an annual subscription of $150 as a contribution towards the orchestra's running costs.

Entity's Reliance on Volunteers and Donated Goods or Services The Society is run on a voluntary basis. The Music Director, Orchestra Manager and Assistant Orchestra Manager are offered modest annual honoraria and all other work by the Executive Committee is voluntary. Running the orchestra absorbs many hundreds of hours for each programme and the voluntary roles include marketing and publicity, treasury/finance/accounts, supporter liaison, music procurement/library. In addition, volunteers organise an annual Soloist Competition for players and manage the hiring and maintenance of instruments. Additional Information The Auckland Youth Orchestra (AYO) is the premier youth orchestral institution in New Zealand. Since its inception in 1948, more than 2,600 young musicians have benefitted from expert training in orchestral playing. AYO is usually comprised of around 80 musicians, aged 14-26 years old. The orchestra performs up to 12 concerts annually to a total audience of approximately 5,000 people. Involvement in the Orchestra enables young people to develop orchestral playing skills with important repertoire, gain performance and life experience, learn new musical skills and build music industry relationships. Physical Address: Postal Address: Email/Website: Social Media:

C/- 28 Freya Place, Torbay, Auckland 0630 PO Box 99830, Newmarket, Auckland 1149 ayo@ayo.org.nz www.ayo.org.nz

Telephone: (09) 473-1171

facebook.com/AYOrchestra twitter.com/AYOrchestra instagram.com/aucklandyouthorchestra

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Auckland Youth Orchestra Inc. Statement of Service Performance "What did we do?", When did we do it?"

For the Year Ended 31 October 2021 Description of the Entity’s Outcomes A total of 104 talented young musicians from around the wider Auckland region were involved in AYO in 2021. Having successfully auditioned to be a part of this experience, they were offered training in the skills of orchestral playing and the opportunity to build friendships with other like-minded young people. Concerts In a normal year, AYO presents three concert programmes; each programme is usually performed four times at various venues, with the fourth being at the Auckland Town Hall. However, like last year, 2021 was not a normal year for AYO nor for any performing arts organisation in New Zealand; fortunately the orchestra was able to rehearse and present two complete concert series in 2021 but the Covid-lockdown from mid-August, half way through the scheduled rehearsals for the third programme, meant that the orchestra was unable to resume rehearsals for the remainder of the season. This was a blow, as the orchestra had planned an exciting programme, together with the Auckland Town Hall Organ Trust and the Lodge of the Liberal Arts No.500, which was to involve two weekend tours. It is hoped that this programme will be performed in 2022. Works performed during the year were: Composer

Work

March (Whitianga, Katikati, Howick, Auckland Town Hall) Copland Fanfare for the Common Man Vaughan Williams The Lark Ascending Ravel Pavane for a Dead Princess Mussorgsky Pictures at an Exhibition June (Howick, Orewa, Helensville & Auckland Town Hall) Prokofiev Romeo & Juliet Suites 1 & 2 Concert Fantasia on Motives from Verdi / Bassi Verdi's Opera: "Rigoletto" Bernstein West Side Story Symphonic Dances

Soloists

Jim Wu, violin

Kiara Kong clarinet

Training & Development The works rehearsed and performed in 2021 challenged and developed the players under the expert guidance of the Music Director and professional musicians who tutored the sections. Most of the tutors were members of the Auckland Philharmonia Orchestra; building connections with such people helped the players in their personal musical development and in learning more about a potential career as a professional musician. Promoting Music in the Community As usual, the Auckland Town Hall concerts were offered free to the community. Support from Wallace Foundation assisted with this. The cost of attending a symphony concert can be a deterrent for many, hence a free concert affords everyone the opportunity to participate in the enjoyment of the arts. The audience typically represents a wide range in both age and cultural background. Tours AYO toured to Whitianga and Katikati in March 2021 and appreciated the usual enthusiastic support of the Whitianga cultural community. The size and enthusiasm of the Katikati audience was a wonderful conclusion to that weekend tour away. Such weekend tours offer the players the benefits of learning to be adaptable in performing in a variety of venues and of building social relationships with one another. Costs of touring are significant and the players pay for their own hostel accommodation and food; AYO covers the transportation expenses of hiring two coaches and a truck to move players and instruments.

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Soloist Competition This annual in-house competition offers AYO players an opportunity to compete for donated monetary prizes and the winner gains the additional sought-after prize of performing as a soloist with the orchestra the following year. The 2020 competition winner, Kiara Kong, performed as soloist with AYO in the June concert series. The 2021 competition was to have been held in October but the extended lockdown resulted in its postponement to February 2022. We are grateful to the Perpetual Guardian Margaret Neutze Legacy Fund for supporting the competition prize money pool with a $5,000 grant - this is being held for recognition and use in 2022. Young Soloists As usual, each concert series performed featured a young soloist performing works for solo instruments with orchestra. Both soloists were AYO players. Such solo performances are rare and valuable opportunities for musicians and their impressive performances provided inspiration for other orchestra members and audiences alike. Collaboration With Other Institutions The orchestra's relationship with the Auckland Philharmonia Orchestra (APO) was continued this year primarily through the tutoring programme.

Description and Quantification of the Entity's Outputs

Number of players involved during the year Number of rehearsal and tutoring hours Number of online masterclass hours Number of concerts presented Total audience numbers over all concerts Youtube Views of June 2020 recordings

2021 104 72 8 3,540 1,260

2020 93 76 16 3 1,250 1,500

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INDEPENDENT ASSURANCE PRACTITIONER'S REVIEW REPORT AUCKLAND YOUTH ORCHESTRA INCORPORATED We have reviewed the accompanying financial statements of the Auckland Youth Orchestra Incorporated, which comprise the statement of financial position as at October 31, 2021, and the statement of financial performance, and statement of cashflows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Executive Committee's Responsibility for the Financial Statements The Executive Committee is responsible for the preparation and fair presentation of these financial statements in accordance with New Zealand equivalents to International Financial Reporting Standards and for such internal control as the Executive Committee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Assurance Practitioner's Responsibility Our responsibility is to express a conclusion on the accompanying financial statements. We conducted our review in accordance with International Standard on Review Engagements (New Zealand) (ISRE (NZ)) 2400, Review of Historical Financial Statements Performed by an Assurance Practitioner who is Not the Auditor of the Entity. ISRE (NZ) 2400 requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared in all material respects in accordance with the applicable financial reporting framework. This Standard also requires us to comply with relevant ethical requirements. A review of financial statements in accordance with ISRE (NZ) 2400 is a limited assurance engagement. The assurance practitioner performs procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, and applying analytical procedures, and evaluates the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (New Zealand). Accordingly, we do not express an audit opinion on these financial statements. Other than in our capacity as assurance practitioner we have no relationship with, or interests in, Auckland Youth Orchestra Incorporated.

Basis for Qualified Conclusion As is usual with organisations of this nature, control over the revenues from door collections prior to being recorded is limited, and there are no practical review procedures to determine the effect of this limited control.

Qualified Conclusion Based on our review, except for the possible effects of the matter described in the Basis for Qualified Conclusion paragraph, nothing has come to our attention that causes us to believe that the accompanying financial statements do not present fairly, in all material respects, the financial position of the Auckland Youth Orchestra Incorporated as at October 31, 2021, and its financial performance and cash flows for the year then ended in accordance with the New Zealand Equivalents to International Financial Reporting Standards.

Kennerley & Co Chartered Accountants Limited Auckland 22 November 2021

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Auckland Youth Orchestra Inc. Statement of Financial Performance For the Year Ended 31 October 2021

$ Note

2021

2020

15,461 19,164 8,014 15,276 23,316

15,894 37,304 3,575 18,057 -

81,231

74,830

14,200 53,372 2,000 8,287

14,400 40,256 1,500 24,316

77,859

80,472

3,372

(5,642)

Income Donations, Grants and Sponsorship Fees, Subscriptions and Donations from Members Revenue from Providing Goods & Services Interest & Dividends Other Revenue

Expenditure Volunteer and Officer-Related costs Costs Related to Providing Goods or Services Grants and Donations Made - Stevens Award Other Expenses

Net Surplus/(Deficit) for Year

1 2 3 4

5 6 7

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Auckland Youth Orchestra Inc. Statement of Financial Position As At 31 October 2021 $ Current Assets Cash & Deposits Debtors & Prepayments

2021

Note 8

2020

107,903 5,460

13,720 3,160 113,363

Non-Current Assets Investments: Shares and Bonds Term Deposits

Fixed Assets

Note 9

277,835 206,867

Note 10

Total Assets Less: Current Liabilities Sundry Creditors Unspent Grant

254,391 281,945 484,702

536,336

45,405

49,871

643,470

603,087

10,755 30,630

Accumulated Funds Opening Balance Surplus for Year Closing Balance

16,880

3,703 671 41,385

4,374

602,085

598,713

332,547 3,372

338,189 (5,642) 335,919

332,547

Insurance Reserve Foundation Fund

30,000 236,166

30,000 236,166

TOTAL RESERVES

602,085

598,713

For and on behalf of the Society

President

Treasurer

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Auckland Youth Orchestra Inc. Statement of Cash Flows For the Year Ended 31 October 2021 $

2021

2020

Cash Flows from Operating Activities Cash was received from: Donations, Grants & Sponsorship Fees, Subscriptions and Donations from Members Receipts from providing goods or services Interest, dividends and other investment receipts Net GST (Paid) / Received

15,432 25,764 8,014 15,276 (2,721)

15,894 33,567 3,575 18,057 352

(70,828) 28,916

(52,225) (8,634)

19,853

10,586

-

23,205

Cash was applied to: Payments to acquire instruments Payment to purchase investment Net transfer of funds from Cash to Term Deposits Interest on Term Deposits Reinvested

(620) (128) 82,581 (7,503)

(23,182) (2,488) (9,614)

Net Cash Flows from Investing and Financing Activities

74,330

(12,079)

Net Increase/(Decrease) in Cash Opening Cash Closing Cash

94,183 13,720 107,903

(1,493) 15,213 13,720

This is represented by: Cash and Deposits

107,903

13,720

Cash was applied to: Payments to suppliers and employees Donations, grants and competition prize money paid Net Cash Flows from Operating Activities

Cash flows from Investing and Financing Activities Cash was received from: Receipt on sale of investment

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Auckland Youth Orchestra Inc. Statement of Accounting Policies For the Year Ended 31 October 2021 Auckland Youth Orchestra Inc. has elected to apply PBE SFR-A (NFP) Public Benefit Entity Simple Format Reporting Accrual (Not-For-Profit) on the basis that it does not have public accountability and has total annual expenses of equal to or less than $2,000,000. General Accounting Policies The general accounting principles recognised by Chartered Accountants Australia and New Zealand have been adopted in the preparation of these financial statements and include the following: 1. The measurement basis is historical cost unless otherwise stated; 2. The Orchestra will continue in operation as a going concern for the foreseeable future; 3. Revenues earned and expenses incurred are matched in accordance with the principles of accrual Specific Accounting Policies The following specific accounting principles which materially affect the measurement of financial performance and position have been applied: Grants Grants received are considered a liability until spent. Only the portion of grants expended is shown as Income, with the unexpended balance shown as a liability. Depreciation Depreciation has been calculated using the diminishing value method for all assets. Instruments and General Equipment are depreciated at 10%DV and the Music Library is depreciated at 25%DV. Fixed Assets

Fixed Assets are recorded at cost less accumulated depreciation.

Goods and Services Tax These financial accounts are prepared exclusive of GST. Income Tax Auckland Youth Orchestra Inc. is wholly exempt from New Zealand income tax having fully complied with all statutory conditions for these exemptions. Investments Investments in shares and bonds are recorded at fair value with value changes recognised in profit or loss. They are originally recorded at cost and are subsequently revalued to the closing market price each balance date with the change in value being recognised in the Statement of Financial Performance. Premiums on bonds purchased are matched against interest received in the year of purchase. Interest received on investments is recorded on a cash basis or when compounded. Legacies Major legacies received are invested and the resulting net annual income received is applied to operating expenses. Changes in Accounting Policies The accounting policies have been applied on a basis consistent with those used in the prior year.

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Auckland Youth Orchestra Inc. Notes to the Performance Report For the Year Ended 31 October 2021 Note 1 Donations, Grants and Sponsorship Grants for Regular Operations Wallace Foundation Creative Communities NZ Waitemata Local Board Albert-Eden Local Board Total Grants Donations from the public

2

3

4

5

6

Fees, Subscriptions and Donations from Members & Supporters Lodge of the Liberal Arts P Galloway Anonymous Donor Special Supporters General Supporters Donations from Supporters Subscriptions and Donations from Public Members Subscriptions & Fees from Playing Members Tour Levies from Playing Members

Revenue from Providing Goods & Services Concert Ticket Sales to the Public Instrument Hire Music Hire

Other Revenue Gain on Disposal of Instrument Case Gain on Valuation of Investments

Volunteer and Officer-Related costs Music Director's Honorarium & Expenses Manager's Honorarium & Expenses Assistant Manager's Honorarium & Expenses Officers' Expenses

Costs Related to Providing Goods or Services Cost of Concerts Cost of Soloist Competition Storage Rehearsal Venue Hire Tutoring Music Hire Other

2021

2020

6,800 904 2,637 10,341 5,120 15,461

6,800 3,180 2,830 12,810 3,084 15,894

2,350 4,000 6,350 225 8,763 3,826 19,164

8,000 7,500 5,000 2,000 3,885 26,385 280 10,639 37,304

6,144 1,805 65 8,014

965 2,610 3,575

23,316 23,316

-

7,000 5,000 1,200 1,000 14,200

7,000 5,000 1,200 1,200 14,400

33,620 6,111 2,915 2,546 5,303 2,877 53,372

15,717 6,977 5,869 2,160 4,287 2,323 2,923 40,256

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Note 7

Other Expenses Accountant's Review Fee Depreciation Instrument Repairs Loss on Sale of Investment Loss on Valuation of Investments

2021 1,300 5,086 1,901 8,287

2020 1,300 5,681 265 12,173 4,897 24,316

8

Debtors & Prepayments GST Receivable Sundry Receivables Prepayment

2021 5,431 29 5,460

2020 2,710 450 3,160

9

Investments designated as Fair Value Through Profit or Loss 2021 $ Investments - Shares SmartFONZ NZG (Smartshares Top 50) Kiwi Property Group Australian Foundation Investment Co. Foreign & Colonial Investment Trust

Investments - Bonds Vector Ltd (5.7% Bonds)

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Movements in Year Change in Fair Value

99,566 25,734 26,033 39,790 29,545

11,696 1,737 (1,335) 7,820 5,655

220,668

25,573

57,167

(2,257)

277,835

23,316

(Loss) on Sale

Purchased/ (Sold) 128

-

Instruments 10%DV

$ 87,870 23,869 27,368 31,970 23,890

128

194,967

-

-

59,424

-

128

254,391

Fixed Assets Total

2020

Music 25%DV

General Equipment 10%DV

This Year Opening Carrying Amount Additions/Disposals Current Year Depreciation Charge Closing Carrying Amount

49,871 620 (5,086) 45,405

40,162 620 (4,022) 36,760

625

9,084

(156) 469

(908) 8,176

Last Year Opening Carrying Amount Additions/Disposals Current Year Depreciation Charge Closing Carrying Amount

55,552 (5,681) 49,871

44,625

834

10,093

(4,463) 40,162

(209) 625

(1,009) 9,084

The addition and disposals to instruments related to the replacement of four timpani heads.

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Note 11

Accrued Interest In accordance with our accounting policy for investments, interest has been recorded on a cash basis or when it has been compounded. Total interest earned but not accrued at 31 October 2021 amounted to $ 1,623 (Last Year: $1,830).

12

Commitments There are no commitments as at balance date (Last Year: Nil).

13

Contingent Liabilities There are no contingent liabilities at year end (Last Year: Nil).

14

Related Party Transactions Description of Related Party Relationship Anne-Marie Forsyth, Secretary, owns New Zealand Easybook Tours (2006) Ltd. Antun Poljanich and Mary Lin, Music Director and Manager, jointly own Educonnect Ltd.

Description of the Transaction Value of Transactions This Year Last Year Coaches for NZ weekend tours were booked through $ 2,452 Easybook Tours. Annual fees for services of Music Director and Manager were paid to Educonnect this year

$ 12,000

Amount Outstanding This Year Last Year

-

-

-

-

-

All services provided by Educonnect and Easybook were charged at less than market rates. Executive Committee

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Members of the governing group have used their professional skills to provide services at no charge to the charity.

-

-

-

-

Events After the Balance Date There were no events that occurred after the balance date having a material impact on the Performance Report (Last Year: Nil).

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