Financial Report 2010
| Cash at Bank | 1.1.2010 | 31.12.2010 | ||
| 14 Day a/c | £22,277.04 | £26,298.50 | ||
| Paypal a/c | £212.70 | £700.88 | ||
| Current a/c | £1,313.52 | £1,631.09 | ||
| Total | £23,803.26 | £28630.47 | ||
| Increase in funds at bank | £993.34 | £4,827.21 | ||
| Cashed late | £990.00 | £0.00 | ||
| Income during the year | £32,444.71 |
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| Expenditure during the year | £31637.76 |
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| Adjustment | £186.39 | £171.93 | ||
| Total funds at year end | £23,803.26 | £28630.47 | ||
SHA Income & Expenditure 2010
Income |
Income % |
Expenditure |
Expenditure % |
|
|---|---|---|---|---|
| Administration & Website | £1,510 | 5% | £2844 | 9% |
| Affiliation fees | £9,593 | 27% | £2396 | 8% |
Equipment |
£20.08 | 0.06% | ||
| Donations | £892 | 3% | £535 | 2% |
| External events | £1,112 | 3% | £1,996 | 7% |
Members expenses |
£739 | 2% | ||
| Officers Expenses | £833 | 3% | ||
| Publications | £50 | 0% | £509.38 | 2% |
| Room hire | £296 | 1% | ||
| SHA events | £7476 | 21% | £9,392.20 | 42% |
| Staffing | - | £12,890 | 40.57% | |
| Subscriptions | £13,940 | 40% | ||
| Taxation | - | £19 | 0% | |
Grand Total |
£34,996 | £30,340 |
Income is recorded on a strictly cash basis, expenditure as liability is incurred.
Auditors report
We have examined the vouchers and bank statements for the financial year 1 January to 31 December 2010, and we are content that all monies received and expended have been properly paid and accounted for. We have seen all cheque books, bank receipts and statements.
The majority of payments are now received electronically. The account both captures expenditure as it is incurred and actual expenditure when paid.
Following the decision of the January Central Council to increase the Director’s hours we have considered the budget projections and we are satisfied that the additional costs can be accommodated.
We are satisfied that the Association's finances are still healthy. The discrepancy of £171.93 shows a positive balance. We believe the Association's reserves are sufficient to give the Council more than six months protection against foreseeable liabilities.
Tom Fitzgerald
David Mattocks
Lay Auditors February 2011