Summary of results

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For the year ended 31 December 2012

20122011
££
Turnover 2,457,265 2,043,113
Cost of Sales (1,619,552) (1,298,606)
 
Gross excess of income over expenditure 837,713 744,507
Overhead expenses (774,332) (1,023,693)
Other operating income 206,302 505,987
Interest receivable and similar charges 127 101
 
Excess of income over expenditure before taxation 269,910 226,902
Taxation on ordinary activities (58,652) (47,084)
 
Excess of income over expenditure for the year 211,258 179,818
 
Balance Sheet
Fixed assets 1,920,655 1,767,437
 
Current assets 756,225 1,013,845
Creditors - amounts within one year (289,588) (634,764)
 
Net current assets 466,637 379,081
 
Creditors - amounts due after one year - -
Total assets less current liabilities 2,387,292 2,146,518
Provisions (15,223) (16,130)
 
Net assets 2,372,069 2,130,388
 
Reserves
Accumulated fund 647,776 435,612
Grant reserve 369,931 378,752
Capital reserve 1,354,362 1,316,024
 
2,372,069 2,130,388
 
Note assets above include:
Investment by Scira into Outer Harbour and channel and Inner Harbour
Spend to 31 December 2012
Cost brought forward 1,685,126
Capital equipment purchased in the year 195,473
 
1,880,599
Less depreciation brought forward (369,102)
Less amounts depreciated in the year (157,135)
 
Total included in assets 1,354,362
 

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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