page14.htm-Income and Expenditure Account

Annual Report & Accounts 1998 - 1999

Income and Expenditure Account

for the year ended 31 March 1999

	Notes	1999 Ł'000	1998 Ł'000
Operating income	2	62,175	46,007
Staff costs Before exceptional items Exceptional items	4	(16,380) (16,380) 0	(15,653) (15,640) (13)
Depreciation Before exceptional items Exceptional items	8	(3,886) (3,886) 0	(4,240) (3,031) (1,209)
Other operating charges Before exceptional items Exceptional items	5	(27,779) (27,779) 0	(24,536) (23,828) (708)
Other income Exceptional items	7	1,203	1,602
Operating surplus		15,333	3,180
Loss on disposal of fixed assets		(769)	(398)
Surplus before capital charge		14,564	2,782
Capital charge	6	(854)	(1,093)
Surplus on ordinary activities	12	13,710	1,689

Statement of Recognised Gains and Losses

for the year ended 31 March 1999

Surplus for the financial year	13,710	1,689
Unrealised surplus on revaluation of fixed assets	116	942
Gains and losses related to the year and recognised since last annual report	13,826	2,631

Balance Sheet

at 31 March 1999

	Notes	1999 Ł'000	1998 Ł'000
FIXED ASSETS Tangible assets Investments	8 9	19,060 1	15,748 0
		19,061	15,748
CURRENT ASSETS Debtors: Amounts falling due within one year after more than one year	10	6,174 5,815 359	6,479 4,799 1,680
CURRENT LIABILITIES Creditors: Amounts falling due within one year after more than one year	11	(7,426)	(7,048)
Net current liabilities		(1,252)	(569)
TOTAL ASSETS LESS CURRENT LIABILITIES		17,809	15,179
Provisions for liabilities and charges Deferred income	16 17	(906) 0	(2,220) (1,411)
		16,903	11,548
TAXPAYER'S EQUITY General fund Revaluation reserve	12 13	15,431 1,472	9,275 2,273
		16,903	11,548

David Hendon
Chief Executive
7 July 1999

CASH FLOW STATEMENT

for the year ended 31 March 1999

OPERATING ACTIVITIES Net cash inflow from operating activities	1999 Ł'000	1998 Ł'000
	20,988	12,012
INVESTING ACTIVITIES Purchase of fixed assets Purchase of shares Sale of fixed assets	(9,619) (1) 567	(5,246) 0 87
Net cash outflow from investing activities	(9,053)	(5,159)
Net cash inflow before financing	11,935	6,853
FINANCING Cash surplus surrendered and accounted for in DTI Appropriation Account (Class V Vote 1)	11,705	5,916
DTI notional disaster recovery funding
	230	937
	11,935	6,853
NOTES TO CASH FLOW STATEMENT 1 Reconciliation of operating surplus to net cash inflow from operating activities
Operating surplus	15,333	3,180
Depreciation	3,886	4,240
Permanent diminution in value of fixed assets	184	323
Notional insurance	0	104
Notional audit fee	25	33
DTI overhead apportionment	1,788	1,792
Decrease in debtors	1,256	5,995
Increase/(Decrease) in creditors	1,241	(565)
(Decrease) in provisions	(2,725)	(3,090)
Net cash inflow from operating activities	20,988	12,012

DTI overhead apportionment represents the cost of the services provided by DTI central Directorates and their agents which are not paid for in cash by the Agency.

2. No analysis is presented of changes in or balances of cash or cash equivalents. This is becaues, as explained in Note 1 (h) 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.

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