Dairy: Food for Life Annual Report 2009 - The National Dairy Council
Dairy: Food for Life Annual Report 2009 - The National Dairy Council
Dairy: Food for Life Annual Report 2009 - The National Dairy Council
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>The</strong> <strong>National</strong> <strong>Dairy</strong> <strong>Council</strong><br />
Notes to the financial statements (continued)<br />
For the year ended 31 December, <strong>2009</strong><br />
10. ANALYSIS OF CHANGES IN NET FUNDS<br />
Opening balance Cashflow Closing balance<br />
€ € €<br />
Cash at bank and in hand 3,135,343 (752,658) 2,382,685<br />
11. OPERATING LEASES<br />
<strong>The</strong> company had annual commitments under non-cancellable operating leases, these leases were due to<br />
expire as follows:<br />
<strong>2009</strong> 2008<br />
€ €<br />
Between two and five years – office equipment 2,600 4,485<br />
12. RELATED PARTY TRANSACTIONS<br />
Certain directors of the company are also directors of the co-operatives from which the company receives<br />
voluntary levy income. <strong>The</strong> total voluntary levy income received in the normal course of business from these<br />
co-operatives amounted to €1,597,174 (2008: €1,632,933). <strong>The</strong> total expenses claimed by these directors <strong>for</strong><br />
the year ended 31 December <strong>2009</strong> amounted to €9,780 (2008: €8,109). <strong>The</strong> directors held six meetings during<br />
the year ended 31 December <strong>2009</strong> (2008: 7 meetings).<br />
13: APPROVAL OF FINANCIAL STATEMENTS<br />
<strong>The</strong> financial statements were approved by the Board of Directors on 21 April, 2010.<br />
<strong>National</strong> <strong>Dairy</strong> <strong>Council</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2009</strong><br />
21
Change language