BCS, The Chartered Institute for IT Annual Report and Consolidated ...

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BCS, The Chartered Institute for IT NOTES (continued) i-2-K Limited The wholly-owned subsidiary i-2-K Limited, which is incorporated in the United Kingdom, provides services to Blue Chip and government clients to implement and manage a Continuous Professional Development (CPD) programme. The Institute owns the entire issued share capital of two ordinary shares of £1 each. The trading operations of i-2-K were transferred in to BCS during the prior financial period therefore there have been no profit generating transactions processed through i-2-K in the year. A summary of the trading results is shown below: - 40 - 12 months ended 31 August 2010 16 months ended 31 August 2009 Summary profit and loss £000 £000 Turnover - 897 Cost of sales and administrative expenses - (436) ───── ───── Net profit - 461 ───── ───── The assets and liabilities of the subsidiary were: Fixed assets - - Current assets 7 47 Creditors: amounts falling due with one year - (40) ───── ───── Total net assets/(liabilities) 7 7 ───── ───── Aggregate share capital and reserves 7 7 ───── ───── 21 Financial activities of the charity A summary of the financial activities undertaken by the Institute is set out below: 12 months ended 31 August 2010 16 months ended 31 August 2009 £000 £000 Gross incoming resources 20,325 26,364 Total expenditure on charitable activities (19,933) (27,372) Designated fund expenditure (2,149) (3,226) Governance costs (789) (507) Investment income 191 1,130 ───── ───── Net outgoing resources (2,355) (3,611) Total funds brought forward 12,140 15,751 ───── ───── Total funds carried forward 9,785 12,140 ───── ───── Represented by: General funds 8,898 8,239 Designated funds 887 3,901 ───── ───── 9,785 12,140 ───── ─────
BCS, The Chartered Institute for IT NOTES (continued) The Institute holds a 100% investment in British Informatics Society Limited. Transactions during the financial year are as follows: � Gift Aid £12,000 (2009: £250,000) included in investment income: � Management Charge £24,996 (2009: £31,249). - 41 -
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BCS, The Chartered Institute for IT Annual Report and Consolidated ...

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