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Financial
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LONDON ADVENTIST CREDIT UNION LTD
Balance Sheet as at 30th September 2008
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2008
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2007
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FIXED ASSETS
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1,073
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2,145
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MEMBERS LOAN ACCOUNTS
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Current balances
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85,004
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87,816
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Less provision for unperforming loans
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(47,917)
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(45,558)
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37,087
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42,258
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SUNDRY DEBTORS AND PREPAYMENTS
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12,425
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11,510
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INVESTMENTS
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Bank and other deposit accounts
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302,130
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305,821
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IMMEDIATE LIQUIDITY
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Cash at bank on current account
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115
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6,886
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Cash in hand
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1,121
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807
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1,236
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7,693
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Less:
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Creditors and accruals
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(3,755)
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(6,050)
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Taxation due within one year
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(3,738)
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(3,289)
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(7,493)
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(9,339)
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NET LIQUIDITY
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(6,257)
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(1,646)
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TOTAL NET ASSETS
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346,458
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360,088
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CAPITAL AND RESERVES MEMBERS SHARES
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Ordinary members shares
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323,132
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332,528
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Junior Members Shares
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1,235
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1,074
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Dividends Proposed
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1,679
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7,208
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326,046
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340,810
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RESERVES
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General reserve
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18,412
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17,278
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Development reserve
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2,000
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2,000
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20,412
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19,278
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TOTAL CAPITAL AND RESERVES
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346,458
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360,088
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