| |
S. THOMAS' COLLEGE GURUTALAWA
OLD BOYS ASSOCIATION |
|
INCOME AND EXPENDITURE ACCOUNT |
|
FOR THE YEAR ENDED 31ST DECEMBER
2007 |
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|
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2007 |
|
2006 |
|
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|
Rs. |
|
Rs. |
|
INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Get-together - Wadduwa |
|
|
|
|
73,500.00 |
|
41,650 |
|
Membership Fees |
|
|
|
|
11,000.00 |
|
11,000 |
|
Interest from Deposits |
|
|
|
|
132,640.11 |
|
6,768 |
|
Income Fellowship Dinner |
|
|
|
|
867,400.00 |
|
0 |
|
Donations |
|
|
|
|
18,800.00 |
|
0 |
|
Sale of Membership Directory |
|
|
|
|
21,390.00 |
|
0 |
|
Reunion Celebration/ AGM |
|
|
|
|
86,000.00 |
|
64,800 |
|
|
|
|
|
1,210,730.11 |
|
124,218 |
|
|
|
|
|
|
|
|
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|
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|
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|
|
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EXPENDITURE |
|
|
|
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|
|
|
|
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|
|
|
|
|
|
Printing of Membership Directory |
|
|
|
|
50,000.00 |
|
0 |
|
Fellowship Dinner |
|
|
|
|
407,016.88 |
|
0 |
|
Advertisement |
|
|
|
|
13,800.00 |
|
0 |
|
Bank Charges |
|
|
|
|
3,339.80 |
|
2,138 |
|
Thomian Fair |
|
|
|
|
0.00 |
|
50,000 |
|
Postage and Stationery |
|
|
|
|
34,088.38 |
|
0 |
|
Re Union & A.G.M |
|
|
|
|
151,288.25 |
|
77,126 |
|
Get together - Wadduwa |
|
|
|
|
81,844.00 |
|
0 |
|
Donation to College |
|
|
|
|
167,500.00 |
|
0 |
|
Prize Giving |
|
|
|
|
61,000.00 |
|
0 |
|
Clearing of Computers |
|
|
|
|
40,000.00 |
|
0 |
|
|
|
|
|
1,009,877.31 |
|
129,265 |
|
|
|
|
|
|
|
|
|
Excess of Income Over Expenditure
Transferred to |
|
|
|
|
|
|
|
Accumulated Fund
|
|
|
|
|
200,852.80 |
|
-5,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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S.THOMAS' COLLEGE GURUTALAWA |
|
OLD BOYS ASSOCIATION |
|
BALANCE SHEET AS AT 31ST
DECEMBER 2007 |
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31.12.2007 |
|
31.12.2006 |
|
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|
Note |
|
Rs. |
|
Rs. |
|
|
|
|
|
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|
1. CURRENT ASSETS |
|
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|
|
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|
Dr. Hayman - Canon Foster
Memorial Museum |
|
|
|
|
122,510.62 |
|
122,511 |
|
College Website |
|
|
|
|
12,000.00 |
|
12,000 |
|
Other Debtors |
|
|
2 |
|
69,036.50 |
|
109,416 |
|
Investments |
|
|
3 |
|
1,070,976.42 |
|
901,555 |
|
Cash and Bank Balances |
|
|
4 |
|
340,430.45 |
|
268,619 |
|
Banner |
|
|
|
|
6,723.00 |
|
6,723 |
|
|
|
|
|
|
|
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Total Assets |
|
|
|
|
1,621,676.99 |
|
1,420,824 |
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|
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Funds |
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|
|
|
|
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|
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|
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Accumulated Fund |
|
|
5 |
|
451,411.86 |
|
250,559 |
|
Canon A.J. Foster Scholarship
Fund |
|
|
|
|
172,808.00 |
|
172,808 |
|
Dr. R.L. Hayman Scholarship Fund |
|
|
|
|
171,458.00 |
|
171,458 |
|
Development Fund |
|
|
|
|
451,358.13 |
|
451,358 |
|
A.K. Chapman Scholarship Fund |
|
|
|
|
374,641.00 |
|
374,641 |
|
Total Funds |
|
|
|
|
1,621,676.99 |
|
1,420,824 |
|
|
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|
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|
|
|
|
|
|
31.12.2007 |
|
31.12.2006 |
|
|
|
|
|
Rs. |
|
Rs. |
|
2. OTHER DEBTORS |
|
|
|
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|
|
|
|
Interest Receivable - NSB F.D.
No. - 26988
|
|
|
|
|
3,899.00 |
|
22,916 |
Dinner Dance
|
|
|
|
|
32,500.00 |
|
32,500 |
Sundry Debtors
|
|
|
|
|
32,637.50 |
|
54,000 |
|
|
|
|
|
69,036.50 |
|
109,416 |
|
|
|
|
|
|
|
|
|
|
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3. INVESTMENTS |
|
|
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|
HNB - Fixed Deposit -
CD0714400009
|
|
|
|
|
465,792.16 |
|
0 |
Commercial Bank -Fixed Deposit
-3930011428
|
|
|
|
|
304,013.01 |
|
0 |
National Savings Bank Fixed
Deposit No - 29680
|
|
|
|
|
0.00 |
|
377,141 |
No - 84124
|
|
|
|
|
301,171.25 |
|
250,000 |
Standard Chartered Grindlays Bank
- Call Deposit
|
|
|
|
|
0.00 |
|
274,414 |
|
|
|
|
|
1,070,976.42 |
|
901,555 |
|
|
|
|
|
|
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|
|
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|
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4.CASH AND BANK BALANCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Bank - Current A/C No.
1930010988
|
|
|
|
|
318,389.15 |
|
0 |
Standard Chartered Grindlays Bank
- Current A/C
|
|
|
|
|
|
|
|
A/C No. 01-1005359-01
|
|
|
|
|
22,041.30 |
|
268,619 |
|
|
|
|
|
340,430.45 |
|
268,619 |
|
|
|
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5. ACCUMULATED FUND |
|
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|
|
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|
Balance at the beginning of the
year
|
|
|
|
|
250,559.06 |
|
255,605 |
Add: Excess of Income over
Expenditure
|
|
|
|
|
200,852.80 |
|
-5,046 |
Balance at the end of the year
|
|
|
|
|
451,411.86 |
|
250,559 |
|
|
|
|
|
|
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|
AUDITORS’ REPORT TO THE
MEMBERS OF
S. THOMAS’ COLLEGE GURUTALAWA OLD BOYS
ASSOCIATION
We have examined
the balance sheet and receipts and payments account with the
books and records maintained by S. Thomas’ College - Gurutalawa
Old Boys Association and have obtained all explanations that we
require.
-
The
Association is not registered for taxes although it is
liable to pay income tax, under Section 101 (1) of the
Inland Revenue Act No. 10 of 2006. Further, a computation
for taxation had not been prepared by the Association.
-
We were not
provided with adequate information to verify the following
balances.
-
Current Assets
Dr.
Hayman – Canon Foster
Memorial Museum
College Website
Other Debtors |
Amount
Rs.
122,510.62
12,000.00
65,137.50 |
-
Income
Get-together
Fellowship Dinner
Sale
of Membership Directory
Reunion Celebration /AGM |
Amount
Rs.
73,500.00
867,400.00
21,390.00
| |
