INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2002
NOTES
2002
2001
HK$
HK$
SUBSCRIPTIONS Life 10,800 9,600 Annual 191,025 182,940 201,825 192,540 ORGANISED ACTIVITIES Income from participants 1,309,301 576,514 Expenses 1,158,960 526,051 150,341 50,463 SALES OF PUBLICATIONS Sales income 29,323 49,919 Cost of sales 3 OTHER INCOME Bank interest 4,589 5,768 Dividends 24,734 44,151 Donations 1,390 15,870 18,531 7,112 4 0 894 19,921 23,876 EXPENDITURE NET INCOME Annual Journal 396,821 311,030 Overhead expenses in 10 5 74,000 Purchase of books for the library 215,558 186,396 3,289 2,403 292,847 267,799 LOSS ON INVESTMENTS 55,424 NET SURPLUS / (DEFICIT) FOR THE YEAR 103,974 (12,193) TRANSFER TO SCHOLARSHIP FUND 100,000 RETAINED SURPLUS / (DEFICIT) FOR THE YEAR 3,974 (12,193) ACCUMULATED FUNDS AT 1 JANUARY 640,610 652,803 ACCUMULATED FUNDS AT 31 DECEMBER 644,584 640,610xli