Our finances....
| SOCIETY FOR THE ASSISTANCE OF LADIES IN REDUCED CIRCUMSTANCES | |||
| SUMMARY STATEMENT OF FINANCIAL ACTIVITIES | |||
| for the year ended 31 December 2007 | 2007 | 2006 | |
| INCOMING RESOURCES | |||
| Voluntary income | 111,830 | 40,702 | |
| Investment Income | 825,257 | 746,131 | |
| Total | 937,087 | 786,833 | |
| RESOURCES EXPENDED | |||
| Cost of Generating Funds | |||
| Costs of generating voluntary income |
2,962 |
||
| Investment Management costs | 74,591 | 73,628 | |
| Charitable Activities | |||
| Grants payable to women in financial need | 707,302 | 715,643 | |
| Support costs | 175,993 | 181,254 | |
| Governance costs | 16,329 | 15,293 | |
| Total | 977,177 | 985,818 | |
| NET INCOMING/(OUTGOING) RESOURCES | (40,090) | (198,985) | |
| GAINS/(LOSSES) ON INVESTMENT ASSETS | 573,725 | 1,844,762 | |
| NET MOVEMENT IN FUNDS | 533,635 | 1,645,777 | |
| BALANCE SHEET | |||
| (as at 31 December 2007) | 2007 | 2006 | |
| FIXED ASSETS | |||
| Tangible fixed assets | 9,967 | 11,804 | |
| Investments | 23,345,799 | 23,704,668 | |
| CURRENT ASSETS | |||
| Debtors | 58,240 | 54,835 | |
| Investments - short term deposits | 1,455,901 | 620,082 | |
| Cash at Bank and in hand | 590,636 | 527,209 | |
| CREDITORS | |||
| Amounts falling due within 1 year | (28,073) | (27,713) | |
| PROVISIONS FOR LIABILITIES AND CHARGES | |||
| Underfunding of staff pension scheme | (64,950) | (57,000) | |
| NET ASSETS | 25,367,520 | 24,833,885 | |
| REPRESENTED BY: | |||
| Unrestricted Funds | 1,507,357 | 1,530,039 | |
| Endowment Funds | 23,860,163 | 23,303,846 | |
| TOTAL FUNDS | 25,367,520 | 24,833,885 | |
| Summary Financial Report The summary figures have been extracted from the Society's full financial statements, which are available separately from Lancaster House, 25 Hornyold Road, Malvern, Worcestershire, WR14 1QQ. These summary figures may not contain sufficient information to give a full understanding of the Society's financial affairs. The full financial statements, which were approved by the Trustees on 16 April 2008 have been audited by haysmacintyre and their audit opinion on those accounts is unqualified. A copy of the accounts will be submitted to the Charity Commission. S D Ginn (Chairman of the Trustees) on behalf of the Trustees 16 April 2008 Auditors' Statement to the Trustees of Society for the Assistance of Ladies in Reduced Circumstances We have examined the summary accounts as set out above, which comprise of the statement of incoming and outgoing resources and balance sheet. Respective responsibilities of Trustees and Auditors The trustees are responsible for preparing the summarised accounts. Our responsibility is to report to you our opinion on the consistency of the summary accounts with the full financial statements and Trustees’ Annual Report. We also read the other information contained in the summarised annual report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summarised accounts. Basis of Opinion We conducted our work in accordance with Bulletin 1999/6 ‘The auditors’ statement on the summary financial statement’ issued by the Auditing Practices Board for use in the United Kingdom. Opinion In our opinion the summarised accounts are consistent with the full financial statements and the Trustees' report for the year ended 31 December 2007. haysmacintyre Chartered Accountants and Registered Auditors Fairfax House, 15 Fulwood Place, London WC1V 6AY 16 April 2008 |