Page 18 - Annua lReport 2014_2015
P. 18
Summary of Income and Expenditure Account
Statement of Total Recognised Surpluses and Deicits
Balance Sheet
Cash Flow Statement
Board Attendance Details/ CEO Emolument








8 Summary Income and Expenditure Account
for the Year Ended 31 March 2015






2015 2014
£ £
Turnover 2233905 2114405
Less operating costs ( 1485974 ) ( 1543485 )


Operating surplus 747931 570920
Surplus on property disposals 123531 128418
Interest receivable 1 8
Interest payable and other charges ( 511190 ) (499285)
Financing (cost)/income 18000 11000


Surplus on ordinary activities before taxation 378273 211061


Corporation tax on surplus - -
Grant receivable against taxation - -




Surplus for the year after taxation 378273 211061


Transfer to disposal proceeds fund (123531) (128418)


Surplus for the year 254742 82643




Continuing operations
None of the Association’s activities were acquired or discontinued during the above two inancial years.
Historical cost
The difference between the results as disclosed in the Income and Expenditure Account before tax,
and retained surplus for the year, on an unmodiied historical cost basis is not material.














17 : annual report & accounts 2014-15 : rural housing association
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