Report - Fire Brigades Union

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SECTION K — ACCOUNTS 2010 AND FINANCIAL STATEMENT Notes to the Accounts For the year ended 31 December 2010 1 Accounting Policies (a) These accounts have been prepared under the historical cost convention. Income and expenditure is dealt with in the various fund accounts of the union. (b) Fixed assets are initially recorded at cost. Depreciation is provided on all tangible fixed assets, except for freehold land, on a straight line basis, at rates estimated to write off the cost or valuation of each asset over its expected useful life. The rates used are: Buildings 2.50% Computer equipment 25% Fixtures or fittings 10% or 20% Motor Vehicles 25% No depreciation is provided on freehold land. Where no information is available as to the allocation of the original cost or valuation of property between land and buildings, best estimates of that allocation are used. (c) Rental payments in respect of operating leases are charged to the General Fund Income and Expenditure Account in the period in which they are incurred. (d) Investments are stated at cost. Provision is made against investments where there is a permanent impairment in value. Income from the investments is recognised when the monies are received. (e) Members’ legal expenses are charged in these accounts net of reimbursements obtained in respect of certain cases, on an invoiced basis. No provision is made for outstanding legal costs not invoiced, or for reimbursements not received at the balance sheet date. All other income and expenditure is accounted for on an accruals basis. (f) Provisions for future expenditure are included in the accounts, only where the union has a present obligation to meet such expenditure. (g) Provision is only made for material corporation tax on investment income and capital gains arising in the year after relief given for provident benefits paid. No provision is made for any potential corporation tax liabilities arising as a result of revaluations of the union’s properties or investments. (h) Value added tax (VAT) is only partially recoverable. The non-recoverable element is shown separately in the income statement. All expenditure is shown exclusive of VAT where applicable. (i) (j) Contributions include those amounts receivable from members in respect of the year under review. The union’s pension schemes are defined benefit schemes. The amounts charged to Income and Expenditure Account are the current service costs. Actuarial gains and losses are recognised immediately in the Consolidated Income and Expenditure Account. The assets of the schemes are held separately from those of the union in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and a discounted rate equivalent to the current rate of return on high quality corporate bonds of equivalent currency and term to the scheme liabilities. (k) Accident and injury fund contributions are recognised on an accrual basis in accordance with union rules. Provisions for expenditure are included in the accounts when there is certainty that a future payment will be made as at the balance sheet date. (l) All union learning fund grant income is recognised as and when the union is entitled to the monies and matched against relevant expenditure. 170 FBU Annual Report 2011
Notes to the Accounts For the year ended 31 December 2010 SECTION K — ACCOUNTS 2010 AND FINANCIAL STATEMENT 2 Benefits Note 2010 2009 £ £ Legal Fees 393,831 576,375 Education 356,253 286,949 Accident and Injury Claims 923,243 1,579,697 Payments for Support 10,000 30,795 Victimisation Payments 41,211 25,399 1,724,538 2,499,215 3 Administration 2010 2009 £ £ Salaries, National Insurance and Pension Contributions 2,426,138 2,461,088 FRS 17 Pension Scheme Adjustment 8 (263,000) (452,000) Honoraria 29,958 30,228 Travelling 825,167 953,339 Hotels and Subsistence 984,588 1,113,614 Motor Expenses 742,097 568,762 Other Organising Expenses 226,036 267,458 Trade Union Leave 1,307,863 1,098,974 Reports, Journals and Subscriptions 83,341 97,148 Ballot Expenses 99,597 36,149 Donations 196,087 134,790 Goods for Resale, Presentations & Campaigning 58,455 123,059 Repairs and Renewals 125,575 167,765 Office Expenses 497,100 550,187 Communications 700,593 642,187 Printing and Stationery 403,056 472,808 Advertising 35,841 63,284 Insurance 27,377 28,395 Bank Charges and Interest Payable 44,314 33,392 Audit, Pension Audit and Accountancy 58,601 33,445 Professional Fees 361,679 408,285 Computer Leasing 8,834 58,531 8,979,297 8,890,888 FBU Annual Report 2011 171
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The Fire Brigades Union Executive C
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MICK SHAW President MATT WRACK Gene
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Section D Pensions 91 Section E AIF
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Report - Fire Brigades Union

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