Summary of results

For the year ended 31 December 2015

20152014
££
Turnover 1,309,849 1,506,820
Cost of Sales (679,259) (884,576)
 
Gross excess of income over expenditure 630,590 622,244
 
Overhead expenses (780,741) (744,433)
Other operating income 359,209 315,105
Interest receivable and similar charges 2460 2003
 
Excess of income over expenditure before taxation 211,518 194,919
Taxation on ordinary activities (37,721) (40,462)
 
Excess of income over expenditure for the year 173,797 154,457
 
 
Balance Sheet
Fixed assets 1,963,448 2,052,603
 
Current assets 1,072,549 1,013,226
Creditors - amounts within one year (283,434) (336,936)
 
Net current assets 789,115 676,290
 
Total assets less Current Liabilities 2,752,563 2,728,893
Provisions (41,247) (29,087)
 
Net assets 2,711,317 2,699,806
 
 
Reserves
Accumulated fund 1,105,040 931,243
Grant reserve 343,468 352,289
Capital reserve - Shellfish facility 340,691 347,940
Capital reserve 922,118 1,068,335
 
Total reserves 2,711,317 2,699,806
 
Note assets above include:
Investment by Scira into Outer Harbour and channel and Inner Harbour

Spend to 31 December 2014

Cost brought forward 1,937,370
Capital equipment purchased in the year 13,800
 
1,951,170
Less depreciation brought forward (889,732)
Less amounts depreciated in the year (160,016)
 
Total included in assets 901,422
 

Wells Harbour Commissioners are a non-profit making organisation whose excess of income over expenditure is ploughed back into the harbour for the good of the stakeholders.

For the full text of the Annual Report, please see WHC documents and downloads