Nacro annual review

FinancesNacro summary accounts for 2004/05Summary of consolidated income and expenditureYear ended 31 March 20052005 2004£000 £000Incoming resourcesFrom operating activities tofurther our objectives* 59,006 60,021Interest and investments 28 36Total incoming resources 59,034 60,057Resources expendedCost of generating funds– fundraising (79) (77)Costs of activities (58,578) (60,804)Management and administration (340) (358)Total resources expended (58,997) (61,239)Net incoming/(outgoing) resourcesfor the year 37 (1,182)Other recognised gains and lossesNet investment gains 42 153Gain on revaluation of fixed assets - 777Net movement in funds 79 (252)Summary consolidated balance sheet31 March 20052005 2004£000 £000Fixed assetsTangible assets 3,544 3,811Investments 574 9984,118 4,809Current assetsStocks 16 11Debtors 7,856 8,689Cash 3,513 3,46911,385 12,169CreditorsAmounts falling due within one year (10,882) (12,406)Net current assets 503 (237)Total assets less current liabilities 4,621 4,572CreditorsAmounts falling due aftermore than one year (703) (733)Net assets 3,918 3,839FundsUnrestricted funds– General funds (175) 396*including all donations and legaciesRestricted funds 3,887 3,254Endowment funds 206 189Total funds 3,918 3,839Trustees’ statementThese summary financial statements are not the statutoryaccounts, but a summary relating to both the Statement ofFinancial Activities and the Balance Sheet. The financialstatements, from which the summary is derived, have beenaudited. The audit report was unqualified. The full annualreport and accounts were approved on 20 October 2005 andwill be filed with the Charity Commission and with theRegistrar of Companies. Copies may be obtained from NacroPublications, 169 Clapham Road, London SW9 0PU.Signed on behalf of the trustees Date: 20 October 2005Independent auditors’ statement tothe trustees of NacroWe have examined the summarised financial statements ofNacro.aware of any apparent misstatements or materialinconsistencies with the summarised financial statements.Our report has been prepared pursuant to the requirementsof the Companies Act 1985 and for no other purpose. Noperson is entitled to rely on this report unless such a personis a person entitled to rely upon this report by virtue of andfor the purpose of the Companies Act 1985 or has beenexpressly authorised to do so by our prior written consent.Save as above, we do not accept responsibility for this reportto any other person or for any other purpose and we herebyexpressly disclaim any and all such liability.Basis of opinionWe conducted our work in accordance with Bulletin 1999/6‘The auditors’ statement on the summary financialstatements’ issued by the Auditing Practices Board for use inthe United Kingdom.Respective responsibilities of trustees and auditorsThe trustees are responsible for preparing the summarisedfinancial statements in accordance with the recommendationsof the charities SORP.Our responsibility is to report to you our opinion on theconsistency of the summarised financial statements with thefull financial statements and trustees’ annual report. We alsoread the other information contained in the annual reportand consider the implications for our report if we becomeOpinionIn our opinion the summarised financial statements areconsistent with the full financial statements and trustees’annual report of Nacro for the year ended 31 March 2005.BDO STOY HAYWARD LLP Chartered Accountants andRegistered AuditorsEmerald House, East Street, Epsom, SurreyDate: 20 October 200524