Notes to the accounts 1
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 1996
| 1 | ACCOUNTING POLICIES | |||
| a. | Basis of Accounts | |||
| The Accounts have been prepared under the historical cost basis of accounting and in accordance with applicable Accounting Standards. | ||||
| b. | Affiliation Fee Income | |||
| Affiliation Fees are shown in the Accounts on the basis of cash receivable during the year. | ||||
| c. | Depreciation and Amortisation | |||
| Leasehold Property | The cost plus further expenditure will be written off over the period of the lease which runs from 25 December 1981 for a term of 125 years. | |||
| Furniture and Fittings | 10% per annum on cost | |||
| Equipment | 20% or 25% per annum on cost as applicable. | |||
| Motor Vehicle | 25% per annum on cost | |||
| Furniture, Fittings and Equipment with a nil book value at the beginning of the year have been treated as disposals. | ||||
| 1996 | 1995 | |||
| £ | £ | |||
| 2 | STAFF COSTS | |||
| Salaries and National Insurance | 4,206,862 | 4,802,419 | ||
| Pension Contributions | 447,161 | 472,839 | ||
| Welfare and Training | 279,882 | 249,835 | ||
| Restructuring Costs | 310,335 | 922,977 | ||
| Advertising | 75,893 | 13,656 | ||
| £5,320,133 | £6,461,726 | |||
| 3 | PROPERTY CHARGES | |||
| Rent and Rates | 470,677 | 368,029 | ||
| Heat and Light | 112,571 | 95,138 | ||
| Cleaning | 76,655 | 128,654 | ||
| Insurance | 75,207 | 56,141 | ||
| Lifts and Maintenance | 283,395 | 187,341 | ||
| External Functions | 287,834 | 323,804 | ||
| Provision for Dilapidations | 250,000 | 250,000 | ||
| £1,556,339 | £1,409,107 |
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