Annual Report 2010 to 2011 - Fife Coast & Countryside Trust

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7. Tangible Fixed Assets Motor Tools & Fixtures & Computer Vehicles Equipment Fittings Equipment Total Cost £ £ £ £ £ At 1 April 2010 8,040 49,057 5,593 14,639 77,329 Added in the year - 6,177 - 180 6,357 At 31 March 2011 8,040 55,234 5,593 14,819 83,686 Depreciation At 1 April 2010 3,574 14,982 3,269 11,620 33,445 Charge for year 2,681 15,249 1,078 455 19,463 At 31 March 2011 6,255 30,231 4,347 12,075 52,908 v Net book value At 31 March 2011 1,785 25,003 1,246 2,744 30,778 At 31 March 2010 4,466 34,075 2,324 3,019 43,884 8. Fixed Asset investments 2011 2010 £ £ Unlisted UK investments 25 25 9. Debtors 2011 2010 £ £ Trade debtors 184,679 184,073 Other debtors – amounts due from funding bodies 55,797 37,774 Prepayments and accrued income 12,087 9,320 252,563 231,167 10. Creditors: amounts falling due within one year 2011 2010 £ £ Trade creditors 105,820 45,558 Other taxation & social security 50,136 24,221 Other creditors 3,444 5,372 Accruals 39,503 46,631 Deferred income 83,500 135,790 282,403 257,572 30 Fife Coast and Countryside Trust Audited Accounts 2010-2011
11. Pension Costs The Trust operates a defined benefit scheme in respect of its employees. The scheme is part of the Fife Council Pension Fund and is administered by Fife Council. It is a funded scheme and the assets are administered by its trustees and are independent of the Trust. The related costs are assessed in accordance with the advice of professionally qualified actuaries. A full actuarial valuation was carried out at 31 March 2011, results of which are shown below. The financial assumptions used by the actuary were:- 2011 2010 % % Expected return on assets 6.8 7.2 Rate of increase in salaries 5.1 5.3 Rate of increase in pensions in payment 2.8 3.8 Inflation assumption 2.8 3.8 Discount rate 5.5 5.5 v The fair value of assets in the scheme and the expected rate of return were:- Long Term Return At Value At 2011 2010 2011 2010 % % £ £ Equity 7.5 7.8 1,109,000 941,000 Bonds 4.9 5.0 246,000 213,000 Property 5.5 5.8 154,000 75,000 Cash 4.6 4.8 31,000 25,000 1,540,000 1,254,000 The following amounts at 31 March 2011 were measured in accordance with the requirements of FRS17:- 2011 2010 £ £ Total fair value of assets 1,540,000 1,254,000 Present value of funded liabilities (1,709,000) (1,834,000) Net pension liability (169,000) (580,000) Fife Coast and Countryside Trust Audited Accounts 2010-2011 31
Page 1 and 2: FIFE COAST AND COUNTRYSIDE TRUST An
Page 3 and 4: Contents Page Trust Information 4 D
Page 5 and 6: Chairman’s Message Once again, I
Page 7 and 8: REVIEW OF ACTIVITIES Conservation h
Page 9 and 10: Best practice recommendations will
Page 11 and 12: ACCESS PROJECTS Coastal Path Works
Page 13 and 14: Path Improvements at Kinkell Braes
Page 15 and 16: FCCT attended the Big Tent event ag
Page 17 and 18: The second way to help is for busin
Page 19 and 20: Members of the Board of Directors M
Page 21 and 22: Scope of the Audit of the Financial
Page 23 and 24: STATEMENT OF FINANCIAL ACTIVITIES (
Page 25 and 26: NOTES ON FINANCIAL STATEMENTS for t
Page 27 and 28: 3. Directors and Staff Costs 2011 2
Page 29: 5. Total Resources Expended (contin
Page 33 and 34: 12. Funds Restricted Unrestricted F
Page 35 and 36: Notes Paper kindly donated by Tulli

Annual Report 2010 to 2011 - Fife Coast & Countryside Trust

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