Annual Accounts

Notes to the accounts

The 2018/19 Financial Statements for PSNC were audited and prepared by our Chartered Accountants Landau Morley LLP. The below is a summary of the performance and position of the organisation.

PSNC’s accounts show a surplus of £265k in 2018/19 compared to £327k in 2017/18. This is despite having a flat levy from LPCs in both years and is due to acute cost control across the organisation. In fact, for both years the Committee challenged the office with a negative budget, which has been over-achieved. PSNC’s main source of income remains levies gathered from LPCs on a six-monthly basis. All LPCs have paid their invoices in full. Other income generated is minimal.

The largest item of expenditure has remained our ‘Administration’ costs and in particular ‘staff employment’. Costs savings have been made in these areas for example by agreeing more beneficial contract terms for energy supplies and holding fewer PSNC meetings, as well as increasing the number of meetings being held at PSNC’s Office.

PSNC’s balance sheet has strengthened as a result of the cost savings made across the organisation.

Debtors have reduced due to more prompt settling of levy invoices. ‘Other debtors’ were much larger in 2018 accounts reflecting the timing of recharges from PSNC Data Systems Ltd.

Current liabilities have reduced because of lower levies received in advance and lower trade creditors as supplier payments are more up to date at the year end. Lower provisions were required for Committee Member expenses and legal consultancy costs.

Income and Expenditure Account

Year ended 31 March 2019

Balance Sheet

as at 31 March 2019

Cash Flow Statment

Year ended 31 March 2019

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