Annual Report and Financial Statements for the Year ended 28 February 2010
Our 2010 Annual report was the winner in the Charities Online Financial Reporting Awards in the below £250,000 income category.
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|
Instruments £ |
Office Equipment £ |
Trophies £ |
Total £ |
|
| Cost | ||||
| At beginning of year | 1,702 | 350 | 530 | 2,582 |
| Additions | - | 50 | - | 50 |
| At end of year |
1,702
|
400
|
530
|
2,632
|
| Depreciation | ||||
| At beginning of year | 667 | 199 | 335 | 1,201 |
| Charge for year | 104 | 20 | 20 | 144 |
| At end of year |
771
|
219
|
355
|
1,345
|
| Net book value | ||||
| At 28 February 2010 |
931
|
181
|
175
|
1,287
|
| At 28 February 2009 |
1,035
|
151
|
195
|
1,381
|
The Society owns three original music manuscripts by Peter Milne and one music manuscript by J Scott Skinner. Due to the difficulty in valuing these they are not incorporated in the above table. The manuscripts are currently on loan to the University of Aberdeen and can by viewed in their archives by contacting them directly.
|
UK Fixed Term Bond £ |
||
| Cost and market value | ||
| At beginning of year | 1,000 | |
| Investment matured | (1,000) | |
| New fixed rate bond purchased | 1,000 | |
| At end of year |
1,000
|
|
2010 £ |
2009 £ |
|
| Finished goods: CDs, Tapes, Anniversary Books | 2,447 | 2,705 |
| T Shirts and Ties | 143 | 145 |
|
2,590
|
2,850
|
|
2010 £ |
2009 £ |
|
| Trade debtors | 150 | - |
| Gift Aid recoverable | 63 | 163 |
| Other debtors and prepayments | 961 | 593 |
|
1,174
|
756
|
|
UK Fixed Term Bond £ |
||
| Cost and market value | ||
| At beginning of year | 8,000 | |
| Investments matured | (8,000) | |
| New fixed rate bonds purchased | 4,000 | |
| At end of year |
4,000
|
The maturity dates of the fixed term bonds are all less than one year.
|
2010 £ |
2009 £ |
|
| Trade creditors | 26 | 165 |
| Deferred income | 90 | 690 |
| Accruals and other creditors | 988 | 666 |
|
1,104
|
1,521
|
In the period ended 28 February 2009 a designated fund was established in relation to payments from members for the planned trip to Shetland in October 2009. In March 2009 the committee agreed to designate £1,000 from the General Purposes Fund towards subsidising travel and accommodation costs of the Shetland trip, a further transfer from the General Purposes Fund was made in October 2010 to cover additional costs of the trip including costs for performing, taking the total transfer for the year to £1,500
The income from the Iain Fraser Award endowment fund is restricted and is to be used as a prize (the Iain Fraser Award) in the Society’s annual competition. The income may be variable and/or received in arrears. The committee has agreed that any deficit arising on the fund should be carried forward, reducing the following year’s prize.
|
Fund name |
Opening balance £ |
Incoming Resources £ |
Resources Expended £ |
Transfers £ |
Closing balance £ |
| Unrestricted: General purposes fund | 19,226 | 6,266 | (5,913) | (1,500) | 18,079 |
| Designated fund – Shetland Trip 2009 | - | 2,752 | (4,252) | 1,500 | - |
| Restricted: | |||||
| Iain Fraser Award prize fund | (3) | 40 | (37) | - | - |
| Endowed: Iain Fraser Award endowment fund | 1,000 | - | - | - | 1,000 |
| Total all funds |
20,223
|
9,058
|
(10,202)
|
-
|
19,079
|
| Unrestricted funds: | |||||
|
General purposes fund £ |
Designated funds £ |
Restricted income funds £ |
Endowed funds £ |
Total |
|
| Tangible fixed assets | 1,287 | - | - | - | 1,287 |
| Investments (fixed assets) | - | - | - | 1,000 | 1,000 |
| Net current assets | 16,792 | - | - | - | 16,792 |
|
18,079
|
-
|
-
|
1,000
|
19,079
|
|
The Society was under the control of the committee members, as detailed on page 1, throughout the current year. Refer to the previous year's annual report for a full list of the committee members that served during that period.
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