Notes - continued 2

	Instruments £	Photocopier £	Trophies £	Total £
Cost
At beginning	1,352	350	530	2,232
Additions	350	-	-	350
At end of year	1,702	350	530	2,582
Depreciation
At beginning of year	563	184	315	1,062
Charge for year	104	15	20	139
At end of year	667	199	335	1,201
Net book value
At 28 February 2009	1,035	151	195	1,381
At 31 March 2008	789	166	215	1,170

	2009 £	2008 £
Finished goods: CDs, Tapes, Anniversary Books	2,705	3,112
T Shirts and Ties	145	145
	2,850	3,257

The maturity dates of the fixed term bonds are all less than one year.

In the period ended 28 February 2009 the restricted income fund previously established in relation to the Stavanger June 2008 trip was closed after completion of the trip, the £625 deficit on the fund was covered by transfer from the General Purposes Fund. Also in the period a designated fund was established in relation to payments from members for the planned trip to Shetland in October 2009. After the period end the committee agreed to designate £1,000 from the General Purposes Fund towards subsidising travel and accommodation costs of the Shetland trip.

 

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.