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Although the
shop has not yet commenced trading, there have been a number of activities
raising money through fund raising and grant support, as well as expenditure
on professional fees and building works. The Association elected for a
year end of 31 January and accounts were duly produced for the 5 months
to 31 January 2007 which were signed on 14 May 2007, approved at the Annual
General Meeting on 26th July 2007 and submitted to the FSA as part of
the annual return on 4th August 2007. A
copy of these accounts is attached here for reference;
Shop accounts to January
2007
The Management Committee has availed itself
of the small company dispensations in the IPS legislation to waive the
requirement for an audit and opted for an accountant’s report. This
needs approval annually in general meeting and shareholders ratified this
approach at the annual general meeting on 25th July 2007.
As of the 31 July 2007 the shop association
had received funds of approximately £55,000 of which £25,000 had been
paid to advisers and contractors. | 
