International Primary Care Respiratory Group

Web Editorial Team
 
Contact IPCRG
     
About the IPCRG
Mission Policies Editorial Team Committee Recruitment News
Reports Meetings Articles Memorandum & Articles Contact
IPCRG Treasurer's Report for the Period to Sept 17 2003

Current position
  1. This report accompanies the accounts.

  2. These accounts are drawn as at 17 September 2003, the last date prior to incorporation as a company limited by guarantee.

  3. Notes to the accounts are an integral part of the accounts and explain our accounting policies. For example, Note 1 explains that most transactions of the organisation are in sterling but they are presented in euro at a fixed exchange rate.

  4. They show that at the point of incorporation, the IPCRG had approximately 65,000 euro in the bank and a further 14,000 euro owed by NAC Australia and no outstanding liabilities.

  5. Our accounting policy is to take income as it arises and to spend it astutely according to our budget. This means that if a payment was made to us in 2003 we will show it in the 2003 accounts, even if the plan is to spend some of it in 2004.

Looking forward

  1. In the future, as a Scottish company limited by guarantee and as a Scottish charity, we have certain obligations about how we present our accounts. These include an annual report with a foreword that describes how we are set up, information about our activities, auditor's statement, statement on internal control (not legally required, but required in all governance recommendations) as well as income and expenditure and balance sheet. We will also produce a cash flow summary.

  2. Therefore we will require an auditor. We propose that we use the University of Aberdeen auditors. If that proves impossible, we would like the directors' approval to seek out an alternative competent auditor that provides value for money.

  3. Our first accounts as a Scottish company limited by guarantee need to be filed with the relevant tax authorities in June 2005. They will take in the period 18 September 2003 - 31 December 2004.

  4. At this stage in our development, the vast majority of our income comes from subscription income. For the calendar year 2004 we expect to receive subscription income from our associate corporate members of approximately 170,000 euro. Over time, we plan to expand the sources of income, including generation of income through educational and research activities, including the biennial conference.

  5. Current projections for this conference are that we have broken even. Our agreement with the hosts, NAC Australia is that any profit or loss will be shared 60/40 to the IPCRG/NAC.

Ron Tomlins
Treasurer
February 2004

The content of this site, unless otherwise specified, is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 2.0 License 2002-2008 International Primary Care Respiratory Group.
Website developed and maintained by danzigdesigns.com • Hosted by Dr Simon Child