|
|
|
|
6. Stocks
|
. |
1999 |
1998 |
|
engineering spares |
582 |
534 |
|
stock |
65 |
63 |
|
total |
647 |
597 |
To comply with the requirements of the revised Accounts Direction a prior period adjustment was made to bring in the closing stock figure for 1998. The effect of the prior period adjustment was to increase the balance on the General Fund by £596,780 at 31 March 1998, with no effect on the net cost of operations for that year. The effect in the current year was to reduce the net cost of operations by £50,121.
7. Debtors due within one year
|
. |
1999 |
1998 |
|
trade |
20 |
4 |
|
prepayments |
84 |
12 |
|
others |
41 |
45 |
|
total |
145 |
61 |
Other debtors include debtors over one year in respect of housing advances paid to staff of £31,670 (1998: £32,000).
8. Cash at bank and in hand
|
. |
1999 |
1998 |
|
bank |
28 |
18 |
|
cash balance held on-board vessels |
6 |
6 |
|
total |
34 |
24 |
9. Creditors due within one year
|
. |
1999 |
1998 |
|
trade |
307 |
165 |
|
other creditors |
40 |
47 |
|
total |
347 |
212 |
10. Movement in general fund
| . |
1999 |
1998 |
|
as restated |
||
|
£000 |
£000 |
|
|
balance at 1 april 1998 as previously reported |
587 |
2,294 |
|
prior period adjustment |
||
|
revaluation reserve |
9,000 |
9,000 |
|
realised revaluation reserve |
251 |
251 |
|
stock (note 6) |
597 |
597 |
|
as restated |
10,435 |
12,142 |
|
vote funding |
12,345 |
11,588 |
|
non-cash funding |
||
|
revenue |
1,083 |
1,108 |
|
capital |
56 |
114 |
|
net cost of operations |
(14,785) |
(14,554) |
|
standing imprests |
12 |
37 |
|
balance at 31 march 1999 |
9,146 |
10,435 |
The Agency's activities are financed by Parliamentary Grant. The grant utilised, less appropriations in aid, is credited to the General Fund. The net cost of operations for the year is charged to the General Fund.
In accordance with the requirements of the Resource Accounting Manual, prior period adjustments have been actioned to restate the General Fund 1998 closing balance to account for the transfer of Realised Revaluation Reserve and to account for the opening stock figure.
When the Agency was set up in 1991, the net assets transferred to the Agency were revalued, and the revaluation surplus of approximately £10m was credited to the Revaluation Reserve. However, the revalued amount represented the cost to the Agency of the net assets, and this amount should have been taken to the General Fund. In the intervening period, the amount treated as opening revaluation surplus reduced to £9m through realisation of previously unrealised revaluation gains.
A prior period adjustment has been made to transfer £9m from the Revaluation Reserve to the General Fund. There is no effect on the net cost of operations in the current or preceding years.
The effect of the Realised Revaluation Reserve prior period adjustment was to increase the balance on the General Fund by £251,000 as at 31 March 1998 and to reduce the balance on the revaluation reserves by an equivalent amount. There is no effect on the net cost of operations in the current or preceding years.
11. Movement in revaluation reserve
| . |
1999 |
1998 |
|
as restated |
||
|
£000 |
£000 |
|
|
balance at 1 april 1998 as previously reported |
12,748 |
12,520 |
|
prior period adjustment |
||
|
general fund |
(9,000) |
(9,000) |
|
general fund |
(251) |
(251) |
|
as restated |
3,497 |
3,269 |
|
net revaluation surplus |
351 |
521 |
|
backlog depreciation adjustment |
(232) |
(293) |
|
balance at 31 march 1999 |
3,616 |
3,497 |
Surpluses and deficits arising on revaluation are taken to the revaluation reserve where appropriate.
|
|
|