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1.

2.
Contents
3.
Chairman's Summary
4.
Managing Director's Review
5.
Looking ahead
6.

7.
Competing for the Customer
8.

9.
People, Products, Places
10.

11.
Rewarding Tourism ExSEllence
12.

13.
Performance through Partnership
14.

15.
Director's Report
16.

17.
Profit & loss account
18.
Cash flow statement
19.
Notes to the financial statements
20.

21.
Notes to the financial statements
22.

23.
Notes to the financial statements
24.

 Text only version of page 17. Profit & loss account

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Profit and loss account
for the year ended 31st March 2009
Note
2009
2008
£
£
Turnover
2
5,450,576
5,542,739
cost of sales
(
4,389,617 )
(
4,755,783 )
Gross profit
1,060,959
786,956
administrative expenses 
(
950,792 )
(
935,013 )
Operating surplus / (deficit)
3
110,167
(
148,057 )
Interest receivable
113,870
133,960
Other finance charges
(
79,000 )
(
6,000 )
Surplus / (deficit) on ordinary activities before taxation
145,037
(
20,097 )
Tax charge on ordinary activities
5
(
25,703 )
(
24,781 )
 
Surplus / (deficit) for the year
119,334
(
44,878 )
all operations are continuing
Statement of total recognised gains and losses  
for the year ended 31st March 2009
2009
2008
£
£
Surplus / (deficit) for the year
119,334
(
44,878 )
Pension scheme net actuarial (loss) / gain
(
1,837,000 )
1,079,000
Total recognised (losses) / gains relating to the year
(
1,717,666 )
1,034,122
Balance sheet as at 31st March 2009
Note
2009
2008
£
£
Fixed assets
Tangible assets
6
561,382
604,953
Current assets
Stock
84,564
109,194
debtors
7
392,474
579,244
Short term deposits
2,050,000
2,500,000
cash at bank and in hand
951,963
184,022
3,479,001
3,372,460
Creditors: amounts falling due within one year
8
(
1,985,201 )
(
2,059,565 )
Net current assets
1,493,800
1,312,895
Net assets before pension liability
2,055,182
1,917,848
Pension liability
14
(
2,944,000 )
(
1,089,000 )
Net (liabilities) / assets including pension liability
(
888,818 )
828,848
Capital and reserves
10
Pension funding reserve
217,000
217,000
Special projects reserve
50,000
50,000
Sub-regional reserve
228,068
132,385
accumulated (deficit) / surplus
(
1,383,886 )
429,463
Total (deficit) / funds
(
888,818 )
828,848
The financial statements were approved by the Board of Directors and authorised for issue on 7th July 2009
J C W Williams
D R Philip
director
director
www.visitsoutheastengland.com
17