Hon. Treasurer's Report for the year ended 30th April 1990 - Trust Annual Report 1990
The profit on ordinary activities for the year was £736 compared with a loss for the previous year of £1897. There was also an extraordinary gain during the year of £1787 being a further distribution from Hampshire Buildings Preservation Trust in respect of the renovation of 40-49 St. John's Street, Winchester.
The total surplus for the year of £2523 has increased the Trust's Accumulated Fund to £186,666 mainly represented by interest earning assets - £160,870 in Government Stocks, and £24,560 in high interest National Savings and Bank Deposit accounts. This healthy position affords substantial support to the Trust's future requirements.
The ordinary activities profit is made up as follows:-
| 1990 | 1989 | ||||
| Trust-profit (loss) | 2898 | (246) | |||
| Heritage Centre-(loss) | (2606) | ||||
| Heritage Centre Shop-profit | 444 | (2162) | 401 | (1651) | |
| Profit | £736 | £(1897) |
The improvement in the Trust profit is mainly due to the inclusion of a full year's interest arising from the investment of the proceeds of the property sale in December 1988. This has more than offset the increase in routine expenditure and the grant of £2000 towards the balustrade renovation at 4 Eastgate Street.
The increase in the Heritage Centre loss reflects a reduction in Operating Income and Interest Receivable and a modest increase in routine expenditure, partly offset by the improvement in the Shop Profit. The Heritage Centre results continue to suffer due to the proximity of the Brooks Development Site.
Complete copies of the Statutory and Management Accounts are available at the Heritage Centre for the inspection of members.