Professional and progressive - Society of Radiographers

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COMMENTARY ON THE BALANCE SHEET Total assets at the 2010 year end amounted to £4,980,419, an increase of £487,011 from the value at September 2009 for the reasons set out in the previous section. Tangible fixed assets, which include the head office property, were down £36,340, mainly due to depreciation set aside each year for replacements, which again exceeded expenditure on new assets. The Society and College fixed asset investments amounted to £3,439,676, reflecting improving values, income re-invested, and the transfer of £2,000,000 from cash deposits to the portfolio. Current assets, less liabilities at £1,123,603, were £1,368,619 lower than at September 2009. The Money-market Deposits of £2,000,000 were transferred to the investment portfolio during the year to earn an income and provide protection from the effects of inflation. Bank balances increased by £772,454, largely reflecting the surplus earned in 2010. The pension scheme, as with nearly all other schemes, continues to show a deficit due mainly to increased life expectancy and currently depressed investment returns. The scheme deficit on the FRS 17 accounting basis was £735,000 at September 2010. BALANCE SHEETS AT 30 SEPTEMBER 2010 2010 2009 figures in £ SOR COR CONTRA Combined Combined Tangible fixed assets Long leasehold property - 1,038,506 - 1,038,506 1,064,797 Office fixtures, furniture & equipment 501 62,617 - 63,118 77,943 Computers 6,825 43,691 - 50,516 45,740 Total 7,326 1,144,814 - 1,152,140 1,188,480 Fixed Asset investment 1,719,838 1,719,838 - 3,439,676 1,172,706 Investment in subsidiary 2 0 (2) 0 0 Current assets less liabilities 0 Debtors 217,140 184,937 - 402,077 456,341 Money market deposits - - - - 2,000,000 Bank balances 887,243 500,957 - 1,388,200 615,746 Creditors (341,995) (324,679) - (666,674) (579,865) Total 762,388 361,215 - 1,123,603 2,492,222 Pension Scheme liability (468,000) (267,000) - (735,000) (360,000) Total assets at September 2010 2,021,554 2,958,867 (2) 4,980,419 4,493,408 Share capital - 2 (2) - - Reserves General fund 2,489,554 - - 2,489,554 1,976,522 Restricted funds - 42,729 - 42,729 33,445 Unrestricted funds - 3,183,136 - 3,183,136 2,843,441 Less Pension Scheme liability (468,000) (267,000) - (735,000) (360,000) Total capital & reserves at September 2010 2,021,554 2,958,867 (2) 4,980,419 4,493,408 Signed on behalf of The Society Council and The College Board of Trustees 1 and 2 March 2011 REPORTING ON SUMMARISED ACCOUNTS The above figures on pages 27 to 31 have been extracted from the full Society Council and College Board of Trustees reports and financial statements, which have both been audited by Crowe Clark Whitehill LLP, who gave unqualified audit reports in March 2011. The auditors have confirmed to the Council and Trustees that the summarised financial statements are consistent with the full financial statements for the year ended on 30 September 2010. The Council’s and Trustees’ reports and financial statements were approved by Council and the Trustees and signed on their behalf on 2 March 2011 and 1 March 2011, respectively. The College report will be submitted to the Charity Commission in July. Crowe Clark Whitehill LLP also gave an unqualified audit report on the financial statements of the Benevolent Fund for the year to 30 September 2010. These summarised financial statements may not contain sufficient information to gain a complete understanding of the financial affairs of the above entities. The full reports, audit reports and financial statements may be obtained from The Secretary, Society and College of Radiographers, 207 Providence Square, London SE1 2EW. 32 ANNUAL REPORT 2010/11
20% 18% ASSETS 2010 2% Fixed Asset Investments Current Assets (Cash, Debtors Less Creditors) Long Leasehold Property Other Fixed Assets 60% REVIEW OF MEMBERSHIP Newly qualified radiographers continue to see the value of joining the Society. Membership numbers over the last six years show a pleasing increase and are as follows: 2006: 18,635 2007: 19,249 2008: 19,628 2009: 20,388 2010: 21,093 The number of student members of the Society continues to be at a satisfactory level: 2006: 4,566 2007: 4,447 2008: 3,020 2009: 2,845 2010: 3,018 24,000 22,000 20,000 Members Students 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 2006 2007 2008 2009 2010 ANNUAL REPORT 2010/11 33
Page 1 and 2: Society of Radiographers Annual Rep
Page 3 and 4: Annual report 2010/11 for the year
Page 5 and 6: The Society's Council Front row fro
Page 7 and 8: A busy and challenging year Sandie
Page 9 and 10: The respect and influence we have e
Page 11 and 12: Radiography research grows as more
Page 13 and 14: great acclaim at the United Kingdom
Page 15 and 16: decided out of court. Going forward
Page 17 and 18: for the SCoR at the Royal Lancaster
Page 19 and 20: complacency. New versions of Guidan
Page 21 and 22: • Ultrasound Training, Employment
Page 23 and 24: eported that the submission of arti
Page 25 and 26: ANNUAL REPORT 2010/11 25
Page 27 and 28: COMMITTEES AND WORKING PARTIES OF C
Page 29 and 30: COMMENTARY ON INCOME AND EXPENDITUR
Page 31: EXPENDITURE 2010 13% Salary Costs 3

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