Financial review 2015

We’re reporting a surplus of income over expenditure from normal activities (prior to the actuarial charge to the Society's closed final salary pension scheme) of £56,000 for the financial year ended 31 October 2015 (2014 - surplus £116,000). The actuarial charge in respect of the scheme was £219,000 (2014 - £189,000). The Society’s income for the year includes a gain on the sale of Heritable Property of £3,135,000, net of corporation tax, resulting in a total recognised surplus for the year of £2,972,000 (2014 - recognised loss £73,000).

Income & Expenditure Account
Our income (excluding the gain made on the sale of Drumsheugh Gardens) amounted to £10.3 million, an increase of 0.5% from last year. The sources of income were as follows:

Graph 1No Text
  •  74% Membership
  •  1% Regulation
  •  4% Events
  •  4% Other Commercial
  •  14% Financial Compliance & Interventions
  •  3% Other

Expenditure
Our expenditure was £10.3 million, an increase of 1.1% from last year. Expenditure was split as follows:

Graph 2No Text
  •  15% Representation
  •  12% Regulation
  •  10% Membership
  •  5% Corporate Office
  •  20% Central Services
  •  7% Communication & Marketing
  •  7% Commercial
  •  2% Final Salary Pension Scheme
  •  11% Financial Compliance & Interventions
  •  6% Irrecoverable VAT & Corporation Tax
  •  2% Council
  •  3% Depreciation

View the full financial report and accounts

View our governance report