NOTES TO THE ACCOUNTS
For the Year Ended 30 June 2003

1. Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

a) Company Status

The charity is a company limited by guarantee. The members of the company are the trustees.

b) Basis of Preparation

The financial statements have been prepared under the historical cost accounting rules, and in accordance with the Charities SORP and the Financial Reporting Standard for Smaller Entities (effective June 2002).

c) Income and Expenditure

Income and Expenditure is accounted for on an accruals basis. Subscription income is apportioned over the period to which it relates.

d) Tangible Fixed Assets

Tangible fixed assets are stated at historical cost less depreciation. Depreciation is provided using the reducing balance basis at rates which reflect the anticipated useful lives of the assets and their estimated residual values:

Office Equipment	15%
Computer Equipment	331/3%

 

2. Annual Conference

Income	£
From Corporate Sponsors	38495
Satellite Meeting	10500
From individual registrations	52126
From Convatec for programmes	5000
	________
	106121
Less: expenditure	(103379)
	________
Surplus on Conference	2742

3. Fixed Assets

	Office Equipment	Computer Equipment	Total
	£	£	£
Costs:
Brought Forward	2457	2823	5280
Additions	-	-	-
	________	________	________
Carried Forward	2457	2823	5280
	________	________	________
Depreciation:
Brought Forward	883	1493	2376
Additions	236	443	679
	________	________	________
Carried Forward	1119	1936	3055
	________	________	________
Net Book Value:
As at 30 June 2003	1338	887	2225
As at 30 June 2002	1574	1330	2904
	________	________	________

4. Prepayments
Included within prepayments is an amount of £18,168 relating to expenses incurred for the Tampere Meeting being held in September 2003.

5. Accruals and Deferred Income

	2003	2002
	£	£
Accountancy and Professional Fees	1300	1250
Deferred Income	60828	40897
	________	________
	62128	42147
	________	________

During the year subscriptions were received from individual members covering the subscription year ending 30 September 2003 and corporate members covering the subscription year ending 31 December 2003. As these financial statements have been prepared to 30 June 2003 the element of subscriptions paid in advance at that date amounting to £43,604 has been treated as deferred income.

6. Restricted Fund

This is a specific grant from Nutricia for the production of Nutritional guidelines.

7. Trustees Expenses

Fifteen Trustees were reimbursed for their expenses, amounting to £25733 (2002 : £12976).

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ACCOUNTANTS’ REPORT ON THE UNAUDITED ACCOUNTS

To the Members of the
EUROPEAN PRESSURE ULCER ADVISORY PANEL CHARITY

We report on the accounts for the year ended 30 June 2003 set out above.

Respective Responsibilities of Directors and Reporting Accountants

As described above the trustees, who are also the directors of European Pressure Ulcer Advisory Panel Charity for the purposes of company law, are responsible for the preparation of the accounts, and they consider that the company is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

Basis of Opinion

Our work was conducted in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

a) the accounts are in agreement with the accounting records kept by the company under section 221 of the Companies Act 1985;

b) having regard only to, and on the basis of, the information contained in those accounting records:
(i) the accounts have been drawn up in a manner consistent with the accounting requirements specified in section 249C(6) of the Act; and
(ii) the company satisfied the conditions for exemption from an audit of the accounts for the year specified in section 249A(4) of the Act and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemption specified in section 249B(1).

ABINGDON, OXON, UK 19 August 2003

Critchleys Chartered Accountants