Summary of results

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For the year ended 31 December 2011

20112010
££
Turnover 2,043,113 529,059
Cost of Sales (1,298,606) (219,639)
 
Gross excess of income over expenditure 744,507 309,420
Overhead expenses (1,022,124) (456,027)
Other operating income 504,418 180,252
Interest receivable and similar charges 101 40
 
Excess of income over expenditure before taxation 262,902 33,685
Taxation on ordinary activities (47,084) (6,921)
 
Excess of income over expenditure for the year 179,818 26,764
 
Balance Sheet
Fixed assets 1,762,729 1,693,900
 
Current assets 1,020,811 289,263
Creditors - amounts within one year (641,730) (194,471)
 
Net current assets 379,081 94,792
 
Creditors - amounts due after one year - (4,291)
Total assetts less current liabilities 2,141,810 1,788,692
Provisions (16,130) (15,876)
 
Net assets 2,125,680 1,768,525
 
Reserves
Accumulated fund 435,612 256,048
Grant reserve 378,752 387,573
Capital reserve 1,311,316 1,124,904
 
2,215,680 1,768,525
 
Note assets above include:
Investment by Scira into Outer Harbour and channel and Inner Harbour
Spend to 31 December 2010
Cost brought forward 1,349,859
Capital equipment purchased in the year 328,990
 
1,678,849
Less depreciation brought forward (244,995)
Less amounts depreciated in the year (142,578)
 
Total included in assets 1,311,316
 

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.

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