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This year, the Federation has managed to make a small profit by way of the donations received for the Conservation Fund and the Millennium Beach Clean, together with prudent housekeeping by our Head Office Staff.

As discussed at last year's AGM, the Personal Members Subscriptions have been shown separately on the Income and Expenditure Account, and the Bank Deposit Account shown separately on the Balance Sheet, all as requested.

It was also agreed that we would possibly change our Auditors due to the fact that it was impossible to have the accounts ready for the audit in such a small timescale. This was discussed at an Executive Committee Meeting, and endorsed by the Standing Committee, that we would change the Auditors to those who carried out the audit for the World Championship Accounts.

The accounts enclosed are set out in a slightly different format than usual, but all the information is covered.

The main points in this year's accounts are that we have carried forward the balances from the Junior and
Conservation Funds to help with the costs of these groups in future years. The conservation received £4042 donations during the year against the costs of £3210 for running the Conservation Group, and the Millennium Beach Clean raised £1640 for the Federation which will help towards the cost of the first Recreational Sea Angling Conference.

As in the past, we have received a grant of £30,000 from Sport England, but this year we have received an additional amount of £3,000 to help towards the costs of the World Championships held altogether in Italy. Questions have been raised as to how much the Federation pays towards the costs of these Championships, but the answer is that the costs are partly funded by the grant received from Sport England, with the balance being paid by the competitors themselves.

In the past, these accounts have been shown as an addendum to the Federations Accounts, but this year they have been incorporated into our Accounts, and they are shown in the "Current Assets" and the "Funds Employed", on the Balance Sheet.

You will also see an amount of £40 for Bad Debts in the Income and Expenditure Account. This amount is made up from the old Loan Accounts that have been carried forward for a number of years, but when we tried to ascertain what they were for, we could not find any information about them, so it was agreed that these amounts would be written off. The balance from the defunct Thames Division has still been carried forward.

The breakdowns of the Officers Expenses are as follows: -

1. Chairman
a) 3 trips to Head Office to deal with the business of the Federation including the investigating the purchase of a building.
b) Meetings with various interest groups inc. National Anglers Alliance, Central Council for Physical Recreation and the Sports Minister.
c) General Expenses.

2. Treasurer
a) 3 trips to Head Office to discuss the accounts, and to provide assistance with the Sport England Audit.
b) Telephone, Postage and Stationery.

Well, I think that's all I can say for the moment, but should you have any queries, or require any further information, please do not hesitate to contact me.

Many regards

Eric Gerrey
Hon Treasurer

Addenda:
The audit of Accounts was unfortunately delayed this year because of a matter in which the auditors were in debate with the Inland Revenue. The matter in question has now been resolved but the knock on effect of that unfortunately caused a delay in the preparation of the final accounts which in turn forced us to postpone the arranged date of the AGM and fix a new date of 19th May 2001.