SXxxxxxxxxxxxxxxx  Co Limited  Pension  Scheme

Income  & Expenditure Account

For The Year Ended 05 April 2012

Investment Income

2012 	2011
£ 	£ 	£

Rent Received	24,000 	23.200

24,000	23,200

Expenditure

Bank Loan Interest 	3,214 	3,882
Death Benefit Contributions 	1,681 	1,681
Bank Charges 	58 	63
Administration Fees 	    590 		2,809 (5,543) 	(8.435)

Net New Money Invested 	18,457 	14,765
Change in Market Value of Property (Unrealized) 	(120,000)
Change in market value of investments (unrealised) 	6,326 	12.129

Transfer to Fund 	(95,217) 	26,894

Value of Fund Brought Forward 	428,173 	401.279

Value of Fund as at 31 December 2010 	   3321256 	281123

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Net Assets Statement As At 05 April 2012

Fixed Assets
Property

Investments
Insurance Policies

Current Assets
Northern Bank Current Account
Debtors

Current Liabilities

2012	2011
£ 	£ 	£

497.264	617.264

67,356	55.030

564,620	672,294

1,571 	385

1,571 	385

Bank Loan Account
Sundry Creditors & Accruals

199,935
33,300

211,567
32.939

233,235	244.506

Net Current Assets	(231,664) (244.121) Net Assets	 337.956	428.173
Represented By:

Value of Fund Brought Forward	428,173	401,279

Net New Money Invested per Revenue Account	18,457	14,765	

Change in Market Value of Investments & Property (Unrealised)	
(113,674)	
12.129	

Value of Fund at 31 December 2010	
332.956	
428.173	

On behalf of the Trustees

---------------------------------------- Trustee 				Date:

---------------------------------------- Trustee 				Date:

Notes to the Financial Statements

For The Year Ended 05 April 2012

1. 	Principal  Accounting Policies

The financial statements have been prepared in accordance with Occupational
Pension Schemes (Disclosure oflnformation) Regulations (NI) 1996.

(a) 	Basis of Preparation

The financial statements are prepared in accordance with the historical cost convention and the accounting concepts as set out in SSAP 2.

(b) 	Valuation of Investments

Insurance policies are value at the latest bid valuation and adjusted for subsequent additions and withdrawals from the policy.

(c) 	Contributions & Benefits

Current service contributions are accounted for on an accruals basis.  Benefits payable are accounted for as they fall due.

2. 	Actuarial Position

The accounts summarize the transactions and net assets of the Scheme.  They do not take account of liabilities to pay pensions and other benefits in the future.  The actuarial position of the fund which does take account of such liabilities is dealt with in the Statement of the Actuary every three years and these financial statements should be read in conjunction therewith.  The last actuarial valuation was carried out on 28 December 2001.

3. 	Insurance Policies

The pension fund currently holds the following insurance policies:

Company

Investment
 	Cost

Year End
Value

Scottish Mutual 	53,500 	67,356

Notes to the Financial Statements

For The Year Ended  05 April 2012

4.	Tangible Assets

Cost
Historical cost at 05 April 2011

NBV
At 05 April 2012

22/30 Hopefield
 	Avenue

497.264

497.264

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