Summary of results

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For the year ended 31 December 2013

20132012
££
Turnover 1,514,611 2,457,265
Cost of Sales (914,695) (1,619,552)
 
Gross excess of income over expenditure 599,916 837,713
Overhead expenses (965,228) (774,332)
Other operating income 527,336 206,302
Interest receivable and similar charges 1401 127
 
Excess of income over expenditure before taxation 163,425 269,910
Taxation on ordinary activities (20,363) (58,652)
 
Excess of income over expenditure for the year 143,062 211,258
 
Balance Sheet
Fixed assets 2,223,495 1,920,655
 
Current assets 920,623 756,225
Creditors - amounts within one year (395,973) (289,588)
 
Net current assets 524,650 466,637
 
Total assets less current liabilities 2,748,145 2,387,292
Provisions (29,290) (15,223)
 
Net assets 2,718,855 2,372,069
 
Reserves
Accumulated fund 776,786 647,776
Grant reserve 361,110 369,931
Capital reserve - Shellfish facility 355,189 -
Capital reserve 1,225,770 1,354,362
 
2,718,855 2,372,069
 
Note assets above include:
Investment by Scira into Outer Harbour and channel and Inner Harbour
Spend to 31 December 2012
Cost brought forward 1,880,599 1,685,126
Capital equipment purchased in the year 30,000 195,473
 
1,910,599 1,880,599
Less depreciation brought forward (526,237) (369,102)
Less amounts depreciated in the year (158,592) (157,135)
 
Total included in assets 1,225,770 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.

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