Annual Report & Accounts 1997-98: For the Year 1997/98

Annual Report & Accounts 1997-98

INCOME AND EXPENDITURE ACCOUNT
For the year ended 31 March 1998

	Notes	1998 Ł'000	1997 Ł'000
Gross income - Continuing operations	2	46,007	42,608
Staff costs Before exceptional items Exceptional items	4 7	(15,653) (15,640) (13)	(15,249) (15,320) 71
Depreciation Before exceptional items Exceptional items	8 7	(4,240) (3,031) (1,209)	(3,898) (2,631) (1,267)
Other operating charges Before exceptional items Exceptional items	5 7	(24,536) (23,828) (708)	(23,153) (20,959) (2,194)
Other operating income Exceptional items	7	1,602	3,187
Operating surplus - Continuing operations		3,180	3,495
Loss on disposal of fixed assets		(398)	(85)
Surplus before interest - Continuing operations		2,782	3,410
Notional interest	6	(1,093)	(1,389)
Surplus on ordinary activities	12	1,689	2,021

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
for the year ended 31 March 1998

Surplus for the financial year	1,689	2,021
Unrealised surplus/(deficit) on revaluation of fixed assets	942	(127)
Total recognised gains and losses relating to the year and recognised since last annual report	2,631	1,894

BALANCE SHEET
as at 31 March 1998

FIXED ASSETS Tangible assets	8	15,748	16,387
CURRENT ASSETS Debtors: Amounts falling due within one year after more than one year	9 10	6,479 4,799 1,680	12,474 8,621 3,853
CURRENT LIABILITIES Creditors: Amounts falling due within one year	11	(7,048)	(7,613)
NET CURRENT (LIABILITIES)/ASSETS		(569)	4,861
TOTAL ASSETS LESS CURRENT LIABILITIES		15,179	21,248
FINANCED BY Provisions for liabilities and charges Deferred income General fund Revaluation reserve	16 17 12 13	2,220 1,411 9,275 2,273	6,029 2,437 11,248 1,534
		15,179	21,248

David Hendon
Chief Executive
7 July 1998

CASH FLOW STATEMENT
for the year ended 31 March 1998

	1998 Ł'000	1997 Ł'000
Operating activities
Net cash inflow from operating activities	12,012	11,090
Investing activities Purchase of fixed assets Sale of fixed assets	(5,246) 87	(6,752) 56
Net cash outflow from investing activities	(5,159)	(6,696)
Net cash inflow before financing	6,853	4,394
Financing Cash surplus surrendered and accounted for in DTI Appropriation Account (Class IV Vote 1) DTI notional disaster recovery funding	5,916 937 6,853	1,957 2,437 4,394
Notes to Cash Flow Statement 1. Reconciliation of operating surplus to net cash inflow from operating activities
Operating surplus Depreciation Permanent diminution in value of fixed assets Write off fixed asset Notional audit fee Notional insurance DTI overhead recharges Decrease in debtors (Decrease) / Increase in creditors Decrease in provisions	3,180 4,240 323 - 33 104 1,792 5,995 (565) (3,090)	3,495 3,898 284 259 37 98 2,040 5,379 449 (4,849)
Net cash inflow from operating activities	12,012	11,090
DTI overhead recharges represents the cost of the services provided by DTI central Directorates and their agents which are not paid for in cash by the Agency. Notional charges are explained in note 1(j).
2. No analysis is presented of changes in or balances of cash or cash equivalents. This is because, as explained in Note 9 to the accounts, the Agency does not have its own bank account and carries no balances in respect of cash at bank and in hand in its Balance Sheet.

Contents