Summary of results

For the year ended 31 December 2016

20162015
££
Turnover 1,327,060 1,309,849
Cost of Sales (678,846) (679,259)
 
Gross excess of income over expenditure 648,214 630,590
 
Overhead expenses (742,452) (780,741)
Other operating income 298,175 359,209
Interest receivable and similar charges 2,962 2,460
 
Excess of income over expenditure before taxation 206,899 211,518
Taxation on ordinary activities (37,746) (37,721)
 
Excess of income over expenditure for the year 169,153 173,797
 
 
Balance Sheet
Fixed assets 1,845,414 1,963,448
 
Current assets 1,319,374 1,072,549
Creditors - amounts within one year (412,333) (283,434)
 
Net current assets 907,041 789,115
 
Total assets less Current Liabilities 2,752,455 2,752,563
Provisions (46,562) (41,247)
 
Net assets 2,705,893 2,711,317
 
 
Reserves
Accumulated fund 1,274,193 1,105,040
Grant reserve 334,647 343,468
Capital reserve - Shellfish facility 332,442 340,691
Capital reserve 763,611 922,118
 
Total reserves 2,705,893 2,711,317
 
Note assets above include:
Investment by Scira into Outer Harbour and channel and Inner Harbour

Spend to 31 December 2016

Cost brought forward 1,951,170 1,937,370
Capital equipment purchased in the year - 13,800
 
1,951,170 1,951,170
Less depreciation brought forward (1,049,748) (889,732)
Less amounts depreciated in the year (158,507) (160,016)
 
Total included in assets 742,915 901,422
 

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