Annual Report and Financial Statements for the Year ended 28 February 2011
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 | 400 | 530 | 2,632 |
| Less Disposals | - | (350) | - | (350) |
| At end of year |
1,702
|
50
|
530
|
2,282
|
| Depreciation | ||||
| At beginning of year | 771 | 219 | 355 | 1,345 |
| Charge for year | 92 | 141 | 18 | 251 |
| Less disposals | - | (350) | - | (350) |
| At end of year |
863
|
10
|
373
|
1,246
|
| Net book value | ||||
| At 28 February 2011 |
839
|
40
|
157
|
1,036
|
| At 28 February 2010 |
931
|
181
|
175
|
1,287
|
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 £ |
Deposit Account £ |
|
| Cost and market value | ||
| At beginning of year | 1,000 | - |
| Investment matured to deposit account | (1,000) | 1,000 |
At end of year  |
-
|
1,000
|
|
2011 £ |
2010 £ |
|
| Finished goods: CDs, Tapes, Anniversary Books | 2,311 | 2,447 |
| T Shirts and Ties | 142 | 143 |
|
2,453
|
2,590
|
|
2011 £ |
2010 £ |
|
| Trade debtors | - | 150 |
| Gift Aid recoverable | 123 | 63 |
| Other debtors and prepayments | 445 | 961 |
|
568
|
1,174
|
|
2011 £ |
2010 £ |
|
| Trade creditors | 269 | 26 |
| Deferred income | - | 90 |
| Accruals and other creditors | 1,165 | 988 |
|
1,434
|
1,104
|
In the year ended 28 February 2011 the committee established a designated fund for £1,000 in relation to the donation to CLAN that was agreed at the AGM in May 2010.
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.
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 | 18,079 | 9,032 | (9,860) | (1,001) | 16,250 |
| Designated funds: | |||||
| Shetland Trip 2009 | - | - | - | - | - |
| CLAN Donation | - | - | - | 1,000 | 1,000 |
| Restricted: | |||||
| Iain Fraser Award prize fund | - | 20 | (21) | 1 | - |
| Endowed: Iain Fraser Award endowment fund | 1,000 | - | - | - | 1,000 |
| Total all funds |
19,079
|
9,052
|
(9,881)
|
-
|
18,250
|
| Unrestricted funds: | |||||
|
General purposes fund £ |
Designated funds £ |
Restricted income funds £ |
Endowed funds £ |
Total |
|
| Tangible fixed assets | 1,036 | - | - | - | 1,036 |
| Investments (fixed assets) | - | - | - | 1,000 | 1,000 |
| Net current assets | 15,214 | 1,000 | - | - | 16,214 |
|
16,250
|
1,000
|
-
|
1,000
|
18,250
|
|
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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