Annual Accounts for the year ending 31st December 2007

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Annual Accounts for the year ending 31st December 2007 Depreciation Depreciation rates: Asset Category Excavators, Boats and Dinghies Barges Plant and Machinery Vehicles IT Equipment and Software Furniture and Fittings Canal Structures, Locks, Bridges, Fixed mooring Floating moorings Lock Gates Method 5% to 10% of cost. 5% of cost. 10% to 16.7% of cost. 10% to 16.7% of cost. 20% of cost. 10% of cost. 0.2% of cost. 4% of cost. 2% of cost. 1.5 Pension Costs The North/South Pension Scheme was established by the North/South Implementation Bodies and Tourism Ireland Limited with effect from 29th April 2005. It is a defined benefit pension scheme which is funded annually on a pay as you go basis from monies provided by the UK and Irish Exchequers. The Scheme is administered by an external administrator. Pending the assumption of payment responsibilities by the administrator, Waterways Ireland has made the pension payments on the administrator’s behalf. The Northern Ireland element of the costs is accounted for as if the Scheme were a defined contribution scheme, i.e. the Body recognises only the employer’s contributions in respect of the Northern element of the costs as an expense of the period. It also recognises a corresponding amount as income, representing the value of the resources that the UK Exchequer will make available to fund the Northern Ireland element of the pension costs. In respect of the element of pension costs ultimately borne by the Irish Exchequer, the Finance Departments (North and South) have directed that the only cost recognised in the accounts up to 31st December 2007 will be the cost of pensions paid to the extent that this cost is ultimately borne by the Irish Exchequer. Waterways Ireland Annual Report and Accounts 2007 59
Annual Accounts for the year ending 31st December 2007 1.6 Value Added Tax VAT is included as expenditure or, where appropriate, capitalised in the value of fixed assets. Returns to Revenue Commissioners are in respect of certain services from abroad and intra-community acquisitions. Revenue authorities in Northern Ireland have determined that there is no business activity in Northern Ireland and there is no liability to VAT. 1.7 Stock Stock figures in the accounts are valued at the lower of cost and net realisable value. 60 Waterways Ireland Annual Report and Accounts 2007
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Tuarascáil Bhliantúil agus Cuntai
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Contents Annual Report Foreword by
Page 7 and 8:
Twarthy words bae tha heid yin Am g
Page 9 and 10: Chapter 1 Introduction 1.3 Accounta
Page 11 and 12: Chapter 2 Delivery of the 2007 Key
Page 13 and 14: Chapter 3 Managing and Maintaining
Page 23 and 24: Chapter 4 Developing and Restoring
Page 29 and 30: Chapter 5 Marketing and Promoting o
Page 31 and 32: Chapter 5 Marketing and Promoting o
Page 33 and 34: Chapter 7 Developing an Organisatio
Page 41 and 42: Chapter 7 As part of our Continuous
Page 43 and 44: Appendix 2 Contact Details Headquar
Page 45 and 46: Appendix 2 Contact Details Athlone
Page 47 and 48: Annual Accounts for the year ending
Page 59: Annual Accounts for the year ending
Page 73 and 74: 72 Waterways Ireland Annual Report
Page 75 and 76: Cuntais Bhliantúla don bhliain dar
Page 101 and 102: Cuntais Bhliantúla don Bhliain dar
Page 103 and 104: Aguisín 2 Sonraí Teagmhála An R
Page 105 and 106: Aguisín 1 Uiscebhealaí Éireann -
Page 107 and 108: Caibidil 7 Sáreagraíocht a fhorba
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Caibidil 7 Sáreagraíocht a fhorba
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Caibidil 7 Sáreagraíocht a fhorba
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Caibidil 6 Sócmhainní Uiscebheala
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Caibidil 5 Margaíocht agus Cur Chu
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Caibidil 5 Margaíocht agus Cur Chu
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Caibidil 4 An Gréasán Uiscebheala
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Caibidil 4 An Gréasán Uiscebheala
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Caibidil 3 Na hUiscebhealaí a Chot
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Caibidil 2 Cur i gCrích Chuspóir
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Caibidil 1 Intreoir 1.1 Cúlra Tá
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Réamhrá leis an Phríomhfheidhmea
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Tuarascáil Bhliantúil agus Cuntai
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Annual Accounts for the year ending 31st December 2007

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