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Institute of Human Resource Management
Contribution by Segment for the period ended 30 June 2010

                                        Training       Training          Total
                                        Secretariat        College          2010
                                            Kshs.           Kshs.          Kshs.

Income

 Membership fees                           2,929,356               -      2,929,356
 Luncheon fees                                58,883               -         58,883
Training                                   5,173,379        22,814,820   27,988,199
Consultancy                                1,218,170               -      1,218,170
Caution fees                                     -             674,500      674,500
Examination fees                                 -           4,368,240    4,368,240
Donations                                        -             260,000      260,000
Graduation fees                                  -             173,000      173,000
Institute's Journal & Advertising            100,000               -        100,000
Interest on treasury bills                   233,320               -        233,320
Sundries income                               12,000             7,000       19,000
                                           9,725,108        28,297,560   38,022,668
Expenditure

Tuition                                          -           8,933,901    8,933,901
Training Materials                               -           1,610,615    1,610,615
Examination fees                                 -           2,445,640    2,445,640
Advertising                                  701,915               -        701,915
Fees refunded                                    -             396,610      396,610
Hotel Charges                                965,570               -        965,570
Consultancy                                  116,000               -        116,000
Rent                                       1,327,504         4,640,010    5,967,514
                                           3,110,989        18,026,776   21,137,765


Contribution                               6,614,119        10,270,784   16,884,903
INSTITUTE OF HUMAN RESOURCE MANAGEMENT

FINANCIAL STATEMENTS

FOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2010
                                                      3
Institute of Human Resource Management
Financial Statements
For the six months period ended 30 June 2010




                                               PAGE
CONTENTS




Income and Expenditure Statement                  2

Balance Sheet                                     3
                                                                             4
Institute of Human Resource Management
Income and Expenditure Statement
For the six months period ended 30 June 2010

                                                     2010           2009
                                               Six Months     Six Months
                                                    Kshs.          Kshs.

Income                                         38,022,668     27,008,399

Operating expenses                             (31,537,407)   (22,663,267)


Surplus for the year                            6,485,261      4,345,132
                                                                   5
Institute of Human Resource Management
Balance Sheet
As at 30 June 2010

                                              2010         2009
                                              Kshs.        Kshs.
Non - Current Assets
Property and equipment                    5,661,828    5,344,900

                                          5,661,828    5,344,900

CURRENT ASSETS
Treasury bills                           13,810,497    9,854,269
Trade and other receivables               3,469,835    3,084,488
Cash and bank balances                   10,001,572    7,362,762

                                         27,281,904   20,301,519
CURRENT LIABILITIES

Trade and other payables                   432,802      361,644


NET CURRENT LIABILITIES                  26,849,102   19,939,875

TOTAL NET ASSETS                         32,510,930   25,284,775

FINANCED BY

Accumulated Fund                         32,510,930   25,284,775

                                         32,510,930   25,284,775
                                                 6

Institute of Human Resource Management
Management Accounts
For the period ended 30 June 2010




                                         PAGE
CONTENTS




Income and Expenditure Statement            2

Balance Sheet                               3

Cashflow statement                          4

Notes to the Accounts                      5-6
                                                                                              7

Institute of Human Resource Management
Income and Expenditure Statement
For the period ended 30 June 2010
                                            Total         Budget       Budget
                                               2010        2010       Variance    2009
                                              Kshs.        Kshs             %     Kshs.

Income

 Membership fees                             2,929,356    2,000,000       46%     2,609,982
 Luncheon fees                                  58,883      262,500      -78%        62,500
Training                                    33,463,939   24,500,000       37%    40,990,196
Consultancy                                  1,218,170    2,500,000      -51%     2,701,723
Institute's Journal & Advertising              100,000      800,000      -88%       964,854
Interest on treasury bills                     233,320      100,000      133%       382,946
Students Awards                                    -        125,000     -100%       240,000
Sundries income                                 19,000       10,000       90%         9,500
                                            38,022,668   30,162,500       26%    47,961,701
Expenditure

Training expenses                           14,088,681    9,500,000       48%    13,513,030
Audit fees                                         -        140,000     -100%       139,200
Accountancy fees                               127,000      145,000      -12%       254,000
Bank charges                                    99,712      100,000        0%       328,590
Bad debts                                          -              -        0%       167,040
Consultancy fees                               116,000    1,250,000      -91%       616,497
Depreciation                                   553,015            -      100%     1,134,926
Directors Allowances                           112,000      100,000       12%       144,000
Hotel Charges                                  965,570    2,750,000      -65%     4,477,862
Luncheon costs                                     -        240,000     -100%        87,700
Licenses and permits                            50,400       50,200        0%           600
Insurance                                      288,735       37,500      670%           -
Medical expenses                               509,493      375,000      100%       626,241
Newspapers                                      56,280       50,000      100%       840,593
Office expenses                                267,113      300,000      -11%       637,922
Printing and stationeries                    1,059,332    1,070,000       -1%     1,905,226
Photocopying                                    32,993      145,000      -77%       219,578
Publications ,design and commission costs      298,710      375,000      -20%           -
Repairs and maintenance                        130,474      425,000      100%       807,490
Rent                                         5,967,514    2,900,000      106%     5,764,271
Staff costs                                  5,719,790    5,750,000       -1%     9,894,950
Software expenses                               66,040       30,000      100%       110,500
Secretarial fees                                 8,500            -      100%           -
Telephone, fax and postage                     426,065      450,000       -5%       997,502
Travel and parking expenses                    593,990      150,000      296%     1,103,756
                                            31,537,407   26,332,700       20%    43,771,474


Surplus for the year                         6,485,261    3,829,800      -69%     4,190,227
                                                                           8

Institute of Human Resource Management
Balance Sheet
As at 30 June 2010

                                         Notes        2010         2009
                                                      Kshs.        Kshs.
Non - Current Assets
Property and equipment                    1       5,661,828    5,063,425

                                                  5,661,828    5,063,425

CURRENT ASSETS
Treasury bills                                   13,810,497   13,810,498
Trade and other receivables               2       3,469,835    3,669,170
Cash and bank balances                    3      10,001,572    5,269,008

                                                 27,281,904   22,748,676
CURRENT LIABILITIES

Trade and other payables                  4        432,802     1,786,432


NET CURRENT LIABILITIES                          26,849,102   20,962,244

TOTAL NET ASSETS                                 32,510,930   26,025,669

FINANCED BY

Accumulated Fund                          5      32,510,930   26,025,669

                                                 32,510,930   26,025,669

These accounts were approved by .




……..…...……...………………………………. Director




……..…...……...………………………………. Director
                                                                              9

Institute of Human Resource Management
Cashflow statement
For the period ended 30 June 2010
                                                       2010          2009
                                                       Kshs.         Kshs.

  Surplus for the period                           6,485,261     4,190,227
  Adjustments for:
     Depreciation                                   553,015      1,134,926

  Cashflow before working capital changes          7,038,276     5,325,153

  Increase / (Decrease) in debtors                   199,335      (442,284)
  (Decrease) in creditors                         (1,353,630)     (136,228)

  Net cashflow from operating activities           5,883,981     4,746,641

  Investing Activities

  Purchase of fixed assets                        (1,151,418)   (2,074,609)
                                                  (1,151,418)   (2,074,609)

   Net Increase in cash and cash equivalents       4,732,563     2,672,032

  Cash equivalents at the beginning of the year   19,079,506    16,407,474

  Cash equivalents at the end of the period       23,812,069    19,079,506
                                                                                                10

Institute of Human Resource Management
Notes to the Accounts
For the period ended 30 June 2010

1 Fixed Assets
                                   Books & Furniture &   Partitions   Computers        Totals
                                      Seal Equipment

                                     Kshs.       Kshs.      Kshs.         Kshs.        Kshs.
  COST
  At 1 January 2010              2,864,256   5,375,326   618,566      1,886,930   10,745,078
  Additions                        529,388     622,030       -              -      1,151,418
  At 30 June 2010                3,393,644   5,997,356   618,566      1,886,930   11,896,496

  DEPRECIATION
  At 1 January 2010              1,555,167   2,562,891   244,468      1,319,127    5,681,653
  Charge for the period            229,810     214,654    23,381         85,170      553,015
  At 30 June 2010                1,784,977   2,777,545   267,849      1,404,297    6,234,668

  NET BOOK VALUE
  At 30 June 2010                1,608,667   3,219,811   350,717       482,633     5,661,828

  At 31 December 2009            1,309,089   2,812,435   374,098       567,803     5,063,425




 2 Trade and other receivables
                                                                          2010         2009
                                                                          Kshs.        Kshs.

  Trade receivables                                                   2,526,741    1,952,460
  Car park deposit                                                       13,075       13,075
  Rent deposit                                                          675,734      675,734
  Security deposit                                                       10,000       10,000
  Telephone deposit                                                      10,000       10,000
  Staff loans                                                           214,285       46,002
  Vat Control                                                               -        941,899
  Kenya Airways                                                          20,000       20,000
                                                                            -
                                                                      3,469,835    3,669,170
                                                                   11

Institute of Human Resource Management
Notes to the Accounts (cont'd)
For the period ended 30 June 2010

 3 Cash and Bank Balances

                                              2010         2009
                                              Kshs.        Kshs.

  Bank Balance                           10,001,572    5,269,008



 4 Trade and other payables

                                              2010         2009
                                              Kshs.        Kshs.

  PAYE                                     128,054       118,117
  Pension                                  147,558       103,034
  NSSF                                       4,000         4,000
  Accrued expenses                         127,000       879,611
  Sacco contributions                       22,990        17,840
  N.H.I.F                                    3,200         3,200
  Tuition fees paid in advance                 -         660,630
  Vat Control                                  -             -
                                           432,802     1,786,432

 5 Accumulated fund
                                              2010         2009
                                              Kshs.        Kshs.

  At 1 January                           26,025,669   21,835,442
  Surplus for the period                  6,485,261    4,190,227
  At 30 June 2010                        32,510,930   26,025,669
2010 COMBINED INSTITUTE BUDGET


INCOME
Membership Fees               4,000,000
HR Journal & Advertising      1,600,000
Luncheons/HR Talks              525,000
Training                     49,000,000
Consultancy                   5,000,000
Interest on fixed deposits      200,000
Sundry Income                    20,000
Donations of prizes             250,000
Sundry Income                    20,000
Total Income                 60,345,000

EXPENDITURE
Staff expenses                11,500,000
 Training-RP Fees            6,000,000
Training -Lect. Fees         13,000,000
Hotel Charges                 5,500,000
Luncheons/HR Talks              480,000
Printing of publications        750,000
Rent                          5,800,000
Stationery                    1,390,000
Photocopying                    290,000
Accounting &Audit fees          290,000
Travelling and parking          300,000
Bank charges                    200,000
Telephone and postage           900,000
Legal fees                      110,000
Office expenses                 600,000
Insurance                        75,000
Licences                         50,200
Advertising Charges            1,600,000
IHRM Charter                   1,000,000
ConsultancyCharges            2,500,000
Directors Expenses               200,000
                              52,535,200
Surplus for the year           7,809,800

				
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