Overleaf from this report is a copy of the annual accounts for the year ended 31 March 2005. This is the forth year for which I have presented accounts to the A G M. As at 31 March this year the General Funds stood at £1744.17, compared with £1111.02 last year, and the Glauert Fund stood at £3000.00, compared with £2195.28.

The accounts are in the same format as previously and, I hope, fairly self-explanatory.

Looking first at the General Fund:

• our subscriptions are up on the previous year, in part due to having received 12 life memberships, but also the annual subscriptions have increased this year; 167 paid (£835) compared with 119 (£595) last year.
• expenses are the usual items.

About half way down the page you can see that our total income for the year exceeded total expenditure by £923.05, almost £300.00 of which was transferred to the Glauert Fund.

Looking now at the Glauert Fund:

• there were several fundraising events specifically for the Glauert Fund; a coffee morning and a Christmas Fayre being the main events with raffles and quiz sheets sold at the AGM lunch and autumn lunch. Together with several donations these raised a total of £504.29.
• the funds are held in a National Savings Bank Investment account that yielded interest of £60.53 but it has been agreed by the committee to move these to a higher earning account. We should then be able to increase the Glauert prize to £100 and still not eat into the capital.
• I am pleased to be able to report that there were 9 girls who were successful with their Maths ‘A’ level exams and the Glauert prize was awarded to Samantha Lockley who obtained a grade B and went on to read Maths and Finance at Keele University. Samantha was given a £50 book token at the Sixth Form College Certificate and Awards Presentation evening.

The excess of income over expenditure for the year is £514.82.

Finally I should like to once again put on record my thanks to our accountant, Chris Found, who has reported on the accounts in a very short time scale. This was made all the more difficult by my being on holiday up to 9 April, so I should also like to thank Joyce (Perry, assistant treasurer) for helping out. I am stepping down as treasurer at this AGM so this was an ideal way of letting Joyce move seamlessly into the post!