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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